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Daily Dispatches
Alasdair Macleod: Money and recession
Submitted by admin on Thu, 2023-02-09 11:24 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, February 9, 2023
How reliable is the link between money supply growth and the economic outlook?
Monetarists are warning now that money supply has stopped growing and even turned negative, so we are heading for a recession. This article examines the position for U.S. dollar M2 money supply and the prospects for the U.S. economy.
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Swiss may vote on preventing cashless society
Submitted by admin on Mon, 2023-02-06 09:41 Section: Daily DispatchesBy John Stonestreet
Reuters
Monday, February 6, 2023
Swiss citizens will get the chance to try to ensure that their economy never becomes cashless, a pressure group said, after collecting enough signatures to trigger a popular vote on the issue.
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Newmont bids for Australia's Newcrest but it may not be enough
Submitted by admin on Mon, 2023-02-06 08:31 Section: Daily DispatchesBy Melanie Burton and Scott Murdoch
Reuters
Monday, February 6, 2023
MELBOURNE, Australia -- Top gold producer Newmont Corp said it had made a $16.9 billion offer for Australian peer Newcrest Mining Ltd. to build a global gold behemoth, although investors and analysts said it undervalued the target amid a leadership change.
Newcrest is seeking a new boss, with previous chief executive Sandeep Biswas having stepped down in December, while global interest rates are expected to peak this year and turn down, improving the outlook for gold prices.
Nouriel Roubini: A bipolar currency regime will replace the dollar's exorbitant privilege
Submitted by admin on Sun, 2023-02-05 11:00 Section: Daily DispatchesBy Nouriel Roubini
Financial Times, London
Sunday, February 5, 2023
The U.S. dollar has been the predominant global reserve currency since the design of the Bretton Woods system after the second world war. Even the move from fixed exchange rates in the early 1970s did not challenge the greenback's "exorbitant privilege."
Indian refiners pay traders in UAE dirhams for Russian oil, Reuters says
Submitted by admin on Sat, 2023-02-04 19:05 Section: Daily DispatchesBy Nidhi Verma
Reuters
Friday, Febraruy 3, 2023
NEW DELHI -- Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars, four sources with knowledge of the matter said.
NPR discovers the new global gold rush
Submitted by admin on Fri, 2023-02-03 21:17 Section: Daily DispatchesBy Stacey Vanek Smith
National Public Radio, Washington
Friday, February 3, 2023
2022 was a rough year for investors: Between inflation, falling stock prices, and the crypto crash, it was hard to find a safe haven.
All of that economic turmoil had a lot of investors looking at one of the most ancient places to store wealth: gold.
For decades, investing in gold has been seen as a very old school investment, for the maverick, perhaps slightly anti-establishment investor.
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Wyoming Senate votes to hold, invest, and receive tax payments in gold and silver
Submitted by admin on Thu, 2023-02-02 19:00 Section: Daily DispatchesBy JP Cortez
Money Metals News Service
Eagle, Idaho
Thursday, February 2, 2023
CHEYENNE, Wyoming -- The Wyoming State Senate today voted 16-15, on a bipartisan basis, to pass a bill prompting the state treasurer to hold gold and silver "specie" to protect the state -- as well as establish a process to receive certain tax payments in specie.
Alasdair Macleod: The real war is in currencies, not Ukraine
Submitted by admin on Thu, 2023-02-02 11:31 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, February 2, 2023
In the war between the Western alliance and the Asian axis, the media focus is on the Ukrainian battlefield. The real war is in currencies, with Russia capable of destroying the dollar.
So far, Russian President Vladimir Putin's actions have been relatively passive. But already both Russia and China have accumulated enough gold to implement gold standards. It is now overwhelmingly in their interests to do so.
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Russian mercenaries fight for gold mines in Central African Republic
Submitted by admin on Thu, 2023-02-02 11:21 Section: Daily DispatchesBy Zeinab Mohammed Salih and Jason Burke
The Guardian, London
Thursday, February 2, 2023
Russian mercenaries from the Wagner Group have sustained heavy casualties in a new surge of fighting between government troops and rebels over the control of lucrative goldmines in Central African Republic.
The clashes come amid increasing instability in the anarchic, resource-rich country, which in recent years has become one of Russia’s main hubs of influence in sub-Saharan Africa.
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Amid soaring inflation, Turkey's government and people hurl themselves into gold
Submitted by admin on Wed, 2023-02-01 10:05 Section: Daily DispatchesGold as Inflationary Hedge Makes Turkey World's Biggest Buyer
ByKerim Karakaya and Beril Akman
Bloomberg News
Tuesday, January 31, 2023
Turkey was the biggest buyer of gold among central banks last year, with households also rushing to buy the commodity to shield from geopolitical uncertainty and rampant inflation.
The central bank's gold reserves were at the highest level on record, the World Gold Council said in a report today. The official figure was 542 tonnes, up by 148 tonnes.
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