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Daily Dispatches
China sets up gold fund as part of 'Silk Road' initiative, official media say
Submitted by cpowell on Mon, 2015-05-25 09:48 Section: Daily DispatchesBy Ruby Lian and A. Ananthalakshmi
Reuters
Monday, May 25, 2015
China has established a fund that is expected to raise about $16 billion for gold-related investment as part of its "Silk Road" initiative to develop trade and transport infrastructure across Asia and beyond, official media reported.
Businesses turn to dollar in fiercely anti-American Venezuela as currency crashes
Submitted by cpowell on Mon, 2015-05-25 09:42 Section: Daily DispatchesBy Hannah Dreier
Associated Press
via Minneapolis Star-Tribune
Saturday, May 24, 2015
CARACAS, Venezuela -- It's still possible to buy a gleaming Ford truck in Venezuela, rent a chic apartment in Caracas, and snag an American Airlines flight to Miami. Just not in the country's official currency.
Governments keep metals down to avert 'derivatives nightmare,' Murphy says
Submitted by cpowell on Sun, 2015-05-24 21:40 Section: Daily Dispatches9:40p ET Sunday, May 24, 2015
Dear Friend of GATA and Gold:
Banks brace for more FX-rigging pain as civil lawsuits come forth
Submitted by cpowell on Sat, 2015-05-23 21:04 Section: Daily DispatchesBy James Titcomb
The Telegraph, London
Saturday, May 23, 2015
Banks are bracing for hundreds of millions of pounds in new claims for foreign exchange manipulation from class-action lawsuits triggered by last week's vast market rigging fines.
Barclays, Royal Bank of Scotland, and four other banks were ordered on Wednesday to pay $6 billion (L3.84 billion) by UK and US authorities.
ECB would save Greek banks but not the government, Sprott tells KWN
Submitted by cpowell on Sat, 2015-05-23 18:50 Section: Daily Dispatches6:50p ET Saturday, May 23, 2015
Dear Friend of GATA and Gold:
Koos Jansen: China sets up gold fund for central banks
Submitted by cpowell on Sat, 2015-05-23 18:40 Section: Daily Dispatches6:40p ET Saturday, May 23, 2015
Dear Friend of GATA and Gold:
Gold researcher and GATA consultant Koos Jansen elaborates on today's announcement that the Shanghai Gold Exchange will be arranging acquisition of gold for as many as 60 countries participating in the "Silk Road" trading area.
The objective seems to be to reduce the U.S. dollar's function as the world reserve currency.
60 countries invest in Chinese fund to facilitate central bank gold purchases
Submitted by cpowell on Sat, 2015-05-23 15:04 Section: Daily DispatchesChina Sets Up Largest Gold Fund
From Xinhua News Agency, Beijing
Saturday, May 23, 2015
XI'AN, China -- A gold-sector fund involving countries along the ancient Silk Road has been set up in northwest China's Xi'an City during an ongoing forum on investment and trade this weekend.
Reuters: Austrian central bank plans to repatriate gold from Britain, newspaper says
Submitted by cpowell on Fri, 2015-05-22 22:46 Section: Daily DispatchesFrom Reuters
Friday, May 22, 2015
VIENNA, Austria -- Austria's central bank plans to repatriate some of its gold reserves from Britain after facing criticism for storing too much of the precious metal abroad, the Krone newspaper reported today without naming any sources for the information.
Officials at the Austrian National Bank were not immediately available for comment.
Hyperinflation in Venezuela, which just pawned its gold
Submitted by cpowell on Fri, 2015-05-22 22:38 Section: Daily DispatchesBy Hannah Dreier
Associated Press
via Yahoo News, New York
Friday, May 22, 2015
CARACAS, Venezuela -- Venezuelans are dumping their rapidly-depreciating currency at a quicker pace, leading to a staggering plunge in its free-market value, as the crisis-plagued economy edges closer to an outbreak of hyperinflation.
Defaults, bankruptcies will make things plain, but too late, Sprott says
Submitted by cpowell on Fri, 2015-05-22 14:27 Section: Daily Dispatches2:25p ET Friday, May 22, 2015
Dear Friend of GATA and Gold:
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