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Daily Dispatches
Bankrupt crypto storage firm FTX hit by mysterious outflow of about $662 million
Submitted by admin on Sat, 2022-11-12 10:33 Section: Daily DispatchesBy Suvashree Ghosh
Bloomberg News
Saturday, November 12, 2022
Sam Bankman-Fried’s bankrupt digital-asset exchange FTX was hit by a mysterious outflow of about $662 million in tokens in the past 24 hours, the latest twist in one of the darkest periods for the crypto industry.
Customers still coming to terms with the platform's Friday plunge into Chapter 11 proceedings were subsequently confronted with what the general counsel of its U.S. arm, Ryne Miller, described as "abnormalities with wallet movements."
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Frank Giustra: Almost alone, Canada's central bank owns no gold, and it's a mistake
Submitted by admin on Sat, 2022-11-12 09:29 Section: Daily DispatchesBy Frank Giustra
Toronto Star
Friday, November 11, 2022
Stefan Gleason: Crypto carnage exposes untold risks of unbacked digital wealth
Submitted by admin on Fri, 2022-11-11 15:17 Section: Daily DispatchesBy Stefan Gleason
Money Metals Exchange, Eagle, Idaho
Thursday, November 10, 2022
Cryptocurrency markets were rattled this week by the abrupt collapse of FTX, a major exchange.
Facing a wave of customer requests for withdrawals, FTX announced it was experiencing "liquidity" issues. Rival firm Binance initially offered to help facilitate an emergency rescue of FTX.
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A top gold-buying central bank plans to acquire a lot more
Submitted by admin on Thu, 2022-11-10 18:21 Section: Daily DispatchesBy Nariman Gizitdinov and Maria Kolesnikova
Bloomberg News
Thursday, November 10, 2022
The world's second-biggest buyer of gold among central banks last quarter believes there's hardly such a thing as too much bullion.
Uzbekistan has brought the share of the precious metal in its $32 billion reserves to almost two-thirds, in a reversal of a plan to cut it below 50% by buying U.S. and Chinese sovereign debt.
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Robert Lambourne: BIS is nearly out of its gold swap business
Submitted by admin on Thu, 2022-11-10 15:06 Section: Daily DispatchesBy Robert Lambourne
Thursday, November 10, 2022
After 12 years in the gold swap business, the Bank for International Settlements seems to have just about gotten out.
The bank's October statement of account, just published --
The End Times arrive! Kitco covers gold manipulation in some detail
Submitted by admin on Thu, 2022-11-10 13:51 Section: Daily Dispatches2:08p ET Thursday, November 10, 2022
Dear Friend of GATA and Gold:
More evidence that the End Times are here!
Yesterday Kitco News editor Michelle Makori moderated a discussion about gold market manipulation with mining entrepreneur Frank Giustra taking the position that the manipulation emanates from government and mining entrepreneur Rick Rule taking the position that it doesn't.
Alasdair Macleod: Legal definitions of money and credit
Submitted by admin on Thu, 2022-11-10 11:48 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, November 10, 2022
At these times of growing confusion over the future of currencies’ purchasing power, it is time to remove all doubt in the definitions of the differences between money, currency, and credit. This article traces the history and legal background to these relationships.
Brien Lundin: The new, old safe haven
Submitted by admin on Wed, 2022-11-09 23:26 Section: Daily DispatchesBy Brien Lundin
Gold Newsletter / Golden Opportunities
Metairie, Louisiana
Wednesday, November 9, 2022
It’s been an interesting ride for investors over the past week — and an exhilarating one for gold and silver investors.
First we had the Fed meeting last week, with Fed Chairman Jerome Powell essentially doubling down on his commitment to continue tightening in the fight to rein in inflation with little regard for the consequences.
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Silver Bullion TV interviews GATA secretary about gold's prospects
Submitted by admin on Wed, 2022-11-09 23:04 Section: Daily Dispatches11:08p ET Wednesday, November 9, 2022
Dear Friend of GATA and Gold:
Your secretary/treasurer, interviewed this week by Patrick Vierra for Silver Bullion TV in Singapore, discussed indications that the trade in "paper gold" is being wound down even as the U.S. government seems to have succeeded in persuading financial markets that gold is no longer a good hedge against currency debasement. Foremost among those indications is the sharp decline this year in gold swaps undertaken by the Bank for International Settlements, the gold broker for major central banks.
600-year-old gold coin discovered in Newfoundland could be oldest discovered in Canada
Submitted by admin on Wed, 2022-11-09 22:22 Section: Daily DispatchesFrom the Canadian Press
via CTV Television, Toronto
Wednesday, November 9, 2022
ST. JOHN'S, Newfoundland -- A history enthusiast in Newfoundland has discovered what may be the oldest known English coin ever found in Canada.
Provincial archeologist Jamie Brake said today he knew he was looking at something very special when Edward Hynes sent him photos of a gold coin he'd found this past summer. The coin has since been determined to be about 600 years old, which predates the first documented European contact with North America since the Vikings.
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