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Daily Dispatches
Citigroup to pay $425 million to end CFTC benchmark probes
Submitted by cpowell on Wed, 2016-05-25 20:18 Section: Daily DispatchesMatt Robinson and Matthew Leising
Bloomberg News
Wednesday, May 25, 2016
Citigroup Inc. will pay $425 million to resolve U.S. Commodity Futures Trading Commission claims that the bank attempted to manipulate global benchmarks for interest-rate products multiple times from 2007 to 2012.
Nick Barisheff: The billionaires are wrong on gold
Submitted by cpowell on Wed, 2016-05-25 20:01 Section: Daily Dispatches8p ET Wednesday, May 25, 2016
Dear Friend of GATA and Gold:
Paul Brodsky: The monetary system has devalued 47% in 10 years
Submitted by cpowell on Wed, 2016-05-25 10:02 Section: Daily Dispatches10a ET Wednesday, May 25, 2016
Dear Friend of GATA and Gold:
China wants to set prices for the world's commodities
Submitted by cpowell on Wed, 2016-05-25 09:35 Section: Daily DispatchesFrom Bloomberg News
Wednesday, May 25, 2016
China has put the world's traditional financial centers on notice that it wants to develop its raw material markets as hubs for setting prices, seeking to marry the country's commercial heft with a much greater say in determining how much commodities cost.
Venezuela fights crisis with biggest sovereign gold sale since 2007
Submitted by cpowell on Wed, 2016-05-25 09:19 Section: Daily DispatchesBy Ranjeetha Pakiam and Eddie Van Der Walt
Bloomberg News
Wednesday, May 25, 2016
Venezuela held the biggest gold sale by a central bank in eight years as the country's economic crisis deepened and the government faced concern that it may struggle to honor bond payments.
The gold mine Barrick might regret selling
Submitted by cpowell on Tue, 2016-05-24 19:59 Section: Daily Dispatches8:04p ET Tuesday, May 24, 2016
Dear Friend of GATA and Gold:
Resource company publicist Tommy Humphreys of CEO.CA today issued a report that may be most interesting for showing how insanely cheap the junior gold mining business remains despite the rise in the monetary metal's price since the start of the year.
Embry sees dollar vulnerable, expects change in market sentiment
Submitted by cpowell on Tue, 2016-05-24 17:36 Section: Daily Dispatches5:35p ET Tuesday, May 24, 2016
Dear Friend of GATA and Gold:
Sprott Asset Management's John Embry tells King World News today that the U.S. dollar is vulnerable because of the decline of its use in the oil trade. Embry adds that he thinks a major change in market sentiment is coming. An excerpt from the interview is posted at the KWN Internet site here:
Hugo Salinas Price: Mechanical 'economics'
Submitted by cpowell on Tue, 2016-05-24 12:17 Section: Daily Dispatches12:15p ET Tuesday, May 24, 2016
Dear Friend of GATA and Gold
Former IMF economist asserts that gold is money as good as government bonds
Submitted by cpowell on Tue, 2016-05-24 09:56 Section: Daily Dispatches9:59a ET Tuesday, May 24, 2016
Dear Friend of GATA and Gold:
GoldCore's Mark O'Byrne this week calls attention to commentary written this month by Harvard economics professor Kenneth Rogoff recommending that countries diversify their foreign exchange holdings away from the government bonds of developed countries and into gold.
Banks must defend Libor lawsuits after judges warn of impact
Submitted by cpowell on Mon, 2016-05-23 20:49 Section: Daily DispatchesBy Bob Van Voris
Bloomberg News
Monday, May 23, 2016
Sixteen of the world's largest banks, including JPMorgan Chase & Co. and Citigroup Inc., must face antitrust lawsuits accusing them of hurting investors who bought securities tied to Libor by rigging an interest-rate benchmark, a ruling that an appeals court warned could devastate them.
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