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Daily Dispatches
Whatever happened to the ‘ton of gold’ ship that started the Klondike Gold Rush?
Submitted by admin on Mon, 2021-05-10 00:26 Section: Daily DispatchesBy David Reamer
Anchorage (Alaska) Daily News
Sunday, May 9, 2021
A cheering throng of thousands met the SS Portland as it pulled up to Seattle’s Schwabacher Dock on July 17, 1897. The spectators chanted, over and over, to see the gold.
The perhaps slightly bewildered but good-humored miners on board the steamer waved in return.
Today, a plaque at the Seattle Waterfront Park notes the location of the festivities.
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As gold and silver join commodity boom, try The Calandra Report and help GATA
Submitted by admin on Sun, 2021-05-09 11:19 Section: Daily Dispatches11:13a ET Sunday, May 9, 2021
Dear Friend of GATA and Gold:
With gold and silver showing strong signs of breaking out at last and the London Bullion Market Association appealing for central bank help to keep monetary metals prices down --
-- interest in gold and silver mining shares is rebounding.
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Ambrose Evans-Pritchard: U.S. inflation fears mount as the Fed 'monetizes' Biden's deficits
Submitted by admin on Sat, 2021-05-08 20:44 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Friday, May 7, 2021
The U.S. Federal Reserve and Treasury are repeating one of the most disturbing episodes of the 1940s and risk stoking a destructive inflationary boom, a leading monetary watchdog has warned.
The Center for Financial Stability (CFS) in New York says U.S. money supply data is flashing a red alert and that excess reserves in the banking sector threaten to set off an "explosion of lending" as the recovery accelerates.
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Basel 3 rules will wreck gold price suppression, LBMA warns Bank of England
Submitted by admin on Sat, 2021-05-08 12:19 Section: Daily Dispatches12:29p ET Saturday, May 8, 2021
Dear Friend of GATA and Gold:
Pending "Basel III" regulations emanating from the Bank for International Settlements could destroy the clearing and settlement system for “unallocated” -- that is, “paper” or imaginary -- gold and silver, the London Bullion Market Association and the World Gold Council warned the Bank of England this week.
The bigger question behind 'regulatory capture' at the CFTC
Submitted by admin on Fri, 2021-05-07 12:57 Section: Daily Dispatches1:05p ET Friday, May 7, 2021
Dear Friend of GATA and Gold:
Chris Marcus of Arcadia Economics notes on YouTube this week that the U.S. Commodity Futures Trading Commission has named a Goldman Sachs commodity trading official, Alicia Crighton, as co-chair of a committee advising the commission about the commodity markets:
Alasdair Macleod: Rising bond yields threaten financial markets
Submitted by admin on Thu, 2021-05-06 13:17 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, St. Hellier, Jersey, Channel Islands
Thursday, May 6, 2021
There is a growing recognition in financial circles that price inflation will increase significantly in the near future, and official estimates that it will be a temporary phenomenon limited to an average of 2% are overly optimistic. There is, therefore, increasing speculation about the need for interest rates to rise.
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Little notice for Indian central bank's recent steady accumulation of gold
Submitted by admin on Thu, 2021-05-06 12:07 Section: Daily DispatchesShould India Pile Its Reserves with Gold?
By Lokeshwarri SK
The Hindu, Chennai, India
Thursday, May 6, 2021
The Reserve Bank of India's transactions in gold have always attracted much attention. The pledging of gold with the Bank of England in 1991 to meet the balance of payment crisis is still considered a nadir for the Indian economy. There was also much patriotic cheer when 200 tonnes of gold were purchased from the International Monetary Fund in 2009.
Barrick CEO blasts 'hysterical' fund managers chasing quick cash
Submitted by admin on Wed, 2021-05-05 12:03 Section: Daily DispatchesBy James Attwood
Bloomberg News
Wednesday, May 5, 2021
Investors are undermining the gold industry’s ability to grow by demanding a bigger share of profits from high bullion prices, according to the CEO of the world's second-largest producer.
"Fund managers just bash the table and want money -- they're not interested in this industry reinforcing its foundations," Barrick Gold Corp. Chief Executive Officer Mark Bristow said in an interview today. "Then they turn around and get hysterical when a host country demands returns."
Dollar share of global FX reserves drops to 25-year low, IMF says
Submitted by admin on Wed, 2021-05-05 10:25 Section: Daily DispatchesFrom the International Monetary Fund, Washington
Wednesday, May 5, 2021
The share of U.S. dollar reserves held by central banks fell to 59 percent -- its lowest level in 25 years -- during the fourth quarter of 2020, according to the IMF's Currency Composition of Official Foreign Exchange Reserves survey.
Richard Nachbar, coin dealer and longtime friend to GATA, dies at 66
Submitted by admin on Wed, 2021-05-05 01:17 Section: Daily Dispatches1:16a ET Wednesday, May 5, 2021
Dear Friend of GATA and Gold:
GATA's longtime friend and supporter, the veteran numismatist and coin dealer Richard Nachbar of Williamsville, New York, who was known throughout the gold and silver world by virtue of his expertise and attendance at coin shows and mining conferences, died a week ago at age 66 after a short illness.
Richard was extremely generous, helpful, and kind to GATA -- as well as to scores of others -- and will be fondly remembered.
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