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Daily Dispatches
Alasdair Macleod: The consequences of statist intervention
Submitted by admin on Fri, 2023-04-28 01:07 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, April 27, 2023
This article looks at our current economic condition from the viewpoint of classical economics. It is now 87 years since classical economics were dismissed by John Maynard Keynes in his "General Theory of Employment, Interest, and Money."
Craig Hemke's options price balancing successfully predicts Comex gold price
Submitted by admin on Thu, 2023-04-27 05:45 Section: Daily Dispatches4:43p ICT Thursday, April 27, 2023
Dear Friend of GATA and Gold:
Comex gold futures options levels seem to have predicted the closing price of the June Comex gold contract just as the TF Metals Report's Craig Hemke said it would, "near or just below $1,990," more evidence of market manipulation by the bullion banks that buy and sell the options.
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Sharp selloff in First Republic shares causes alarm in Washington
Submitted by admin on Wed, 2023-04-26 04:14 Section: Daily DispatchesBy James Fontanella-Khan, Colby Smith, Stephen Gandel, and Brooke Masters
Financial Times, London
Wednesday, April 26, 2023
Shares of First Republic continued to plunge on Tuesday as regulators in Washington and financiers on Wall Street scrambled to come up with a plan to stabilise the ailing bank.
The California-based lender’s stock price, which is down by more than 93 per cent this year, fell by a further 49.4 per cent, a day after it revealed its customers had withdrawn $100 billion of deposits during last month's turmoil.
Central banks reduce crisis cash offers as bank system fears ease
Submitted by admin on Wed, 2023-04-26 01:27 Section: Daily DispatchesMuch of this money could be used for surreptitious market interventions and no one outside central banking would ever know -- and financial news organizations will never ask.
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By David McHugh
Associated Press
via ABC News, New York
Wednesday, April 25, 2023
FRANKFURT, Germany -- In a sign fears about the global financial system have eased for now, major central banks are scaling back their offer of emergency dollar loans to banks, a crisis step launched after the collapse of Silicon Valley Bank in the U.S. fed fears about wider troubles.
People should just accept their falling standard of living, Bank of England exec says
Submitted by admin on Tue, 2023-04-25 11:37 Section: Daily DispatchesYes, that might make life easier for central bankers, whose own living standards aren't likely to fall.
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People Need to Accept They Are Poorer, Bank of England Exec Says
By Eir Nolsoe
The Telegraph, London
Tuesday, April 25, 2023
Britons have to accept they have become poorer, a senior Bank of England official has said, claiming that an unwillingness to accept the nation's downward mobility was fuelling inflation.
GATA secretary interviewed in preparation for Mining Investment Asia conference
Submitted by admin on Mon, 2023-04-24 20:15 Section: Daily Dispatches8:15a CST Tuesday, April 25, 2023
Dear Friend of GATA and Gold:
In preparation for next month's Mining Investment Asia conference in Sinagpore, at which your secretary/treasurer will be speaking, Spencer Campbell of Southeast Asia Consulting Pte. Ltd. has interviewed me about GATA's work exposing and opposing manipulation of the gold market. The interview can be found at the consultancy's internet site here:
Zimbabwe's digital-currency plan needs $100 million of gold
Submitted by admin on Mon, 2023-04-24 13:03 Section: Daily DispatchesIf the digital currency isn't to be convertible to real metal, this is just another confidence trick.
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By Ray Ndlovu and Godfrey Marawanyika
Bloomberg News
Monday, April24, 2023
Zimbabwe needs $100 million of gold to kick-start its proposed bullion-backed digital currency, as the southern African nation makes another attempt to stabilize its floundering dollar.
Fire and rain show California still has plenty of gold to discover
Submitted by admin on Sun, 2023-04-23 23:30 Section: Daily DispatchesBy Hope Sloop
Daily Mail, London
Sunday, April 23, 2023
Recent wildfires and rain have caused a "Gold Rush 2.0" in California's Central , where some people have located pieces of gold that were unearthed by the natural events.
According to historian Ed Allen of the Marshall Gold Discovery State Park in Coloma, only about 10-15% of California's gold has been discovered.
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Niall Ferguson: Resentment of dollar's dominance is old hat
Submitted by admin on Sun, 2023-04-23 10:37 Section: Daily DispatchesThe Dollar's Demise May Come Gradually, But Not Suddenly
By Niall Ferguson
Bloomberg News
Sunday, April 23, 2023
"Every night," the president mused, "I ask myself why every country needs to trade in the dollar. ... Who decided it was the dollar after the disappearance of the gold standard? ... Today, countries have to chase after dollars to export, when they could be exporting in their own currencies."
The president in question was Luiz Inacio Lula da Silva of Brazil, and the venue was the New Development Bank in Shanghai on April 13.
Elouise Fowler: Why investors are sick of gold miners hedging
Submitted by admin on Sun, 2023-04-23 10:27 Section: Daily DispatchesBy Elouise Fowler
Australian Financial Review, Sydney
Sunday, April 23, 2023
China, Russia, and Turkey bought vast amounts of gold via their central banks over the past year to bolster their foreign exchange reserves and diversify against the world's most popular currency, the U.S. dollar.
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