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Daily Dispatches
Lawsuit charges that half of Chicago futures are illegal 'wash' trades
Submitted by cpowell on Thu, 2014-07-24 21:34 Section: Daily Dispatches9:34p ET Thursday, July 24, 2014
Dear Friend of GATA and Gold:
Jim Sinclair calls attention to a report by Pam Martens of Wall Street on Parade about a lawsuit charging that half of all futures trades on the Chicago Mercantile Exchange are illegal "wash" trades, trades in which the buyer and seller are essentially the same party:
So what if there's no gold if people are happy to take paper and electrons?
Submitted by cpowell on Thu, 2014-07-24 13:46 Section: Daily Dispatches1:48p ET Thursday, July 24, 2014
Dear Friend of GATA and Gold:
Gold fund manager Egon von Greyerz, interviewed today by King World News, notes that gold deposit discoveries have collapsed and that the time required for turning a deposit into a mine has lengthened. Von Greyerz argues that this foretells much higher gold prices.
U.S. gold ETF delivers first physical bullion coins; holdings grow
Submitted by cpowell on Thu, 2014-07-24 00:44 Section: Daily DispatchesBy Frank Tang
Reuters
Wednesday, July 23, 2014
NEW YORK -- Merk Gold Trust, a bullion-backed exchange-traded fund that allows its shares to be redeemed for physical gold, said on Wednesday it has made its first delivery in dozens of U.S. gold coins to an investor.
U.K. hastens negotiations for currency-rigging settlement
Submitted by cpowell on Wed, 2014-07-23 14:29 Section: Daily DispatchesBy Lindsay Fortado, Suzi Ring, and Gavin Finch
Bloomberg News
Wednesday, July 23, 2014
http://www.bloomberg.com/news/2014-07-23/u-k-fca-said-to-near-fx-rigging...
Pento sees QE cycle repeating; Rule finds resource prices surprisingly strong
Submitted by cpowell on Wed, 2014-07-23 14:19 Section: Daily Dispatches2:15p ET Wednesday, July 23, 2014
Dear Friend of GATA and Gold:
Fund manager Michael Pento predicts to King World News that when the Federal Reserve stops "quantitative easing," there will be a crash in asset prices and then the Fed will start up QE all over again:
The revolving door in U.S. government regulation has never spun faster
Submitted by cpowell on Wed, 2014-07-23 14:12 Section: Daily DispatchesU.S. Swaps Regulator O'Malia to Head Bank Lobby Group
By Douwe Miedema and Michelle Price
Reuters
Wednesday, July 23, 2014
A member of the U.S. Commodity Futures Trading Commission will become the new head of a bank lobby group that is fighting the derivatives regulator in court over a crucial new rule curtailing Wall Street.
Gene Arensberg: The gold trade seems to see little downside risk
Submitted by cpowell on Tue, 2014-07-22 22:42 Section: Daily Dispatches10:40p ET Tuesday, July 22, 2014
Dear Friend of GATA and Gold:
The Got Gold Report's Gene Arensberg tonight looks again at trader positions in gold futures and concludes that "the gold trade," the people who do the biggest business in gold, "are currently positioned as though they do not believe that gold has any significant downside."
Jeremy Warner: Have central banks been breaking the law?
Submitted by cpowell on Tue, 2014-07-22 08:46 Section: Daily DispatchesBy Jeremy Warner
The Telegraph, London
Monday, July 21, 2014
http://www.telegraph.co.uk/finance/comment/jeremy-warner/10981011/Have-c...
The best way to destroy the capitalist system, the Russian revolutionary leader Vladimir Lenin is reputed to have said, is to debauch the currency.
Petropavlovsk's Hambro 'horrified' by gold market rigging; he should buy a GATA T-shirt
Submitted by cpowell on Tue, 2014-07-22 08:32 Section: Daily DispatchesHambro 'Horrified' by Tampering of London Gold Fix
By Thomas Biesheuvel
Bloomberg News
Tuesday, July 22, 2014
http://www.bloomberg.com/news/2014-07-22/hambro-horrified-by-tampering-o...
LONDON -- Peter Hambro, chairman of gold producer Petropavlovsk Plc, said he was "horrified" by the manipulation of the London fix given its importance to the industry.
New gold miner ETF avoids primary investment in Barrick
Submitted by cpowell on Mon, 2014-07-21 23:26 Section: Daily Dispatches11:24p Monday, July 21, 2014
Dear Friend of GATA and Gold:
Looks like you can now buy a gold-mining stock exchange-traded fund without putting the biggest part of your money in Barrick Gold, the biggest gold hedger and enabler of gold price suppression, the company that 11 years ago, by virtue of its enormous hedging, claimed to be the agent of central banks in the gold market:
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