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Daily Dispatches
Ukraine has sold more than $12 billion of its gold during war with Russia
Submitted by admin on Sun, 2022-07-17 17:39 Section: Daily DispatchesGold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted. -- Alan Greenspan, former chairman of the Federal Reserve Board.
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By Max Hunder
Reuters
Sunday, July 17, 2022
Jan Nieuwenhuijs: Swiss vault renovation delays transfer of Austrian gold from London
Submitted by admin on Sun, 2022-07-17 11:44 Section: Daily Dispatches11:35a ET Sunday, July 17, 2022
Dear Friend of GATA and Gold:
Gold researcher Jan Nieuwenhuijs of Gainesville Coins writes today that Austrian gold reserves that were to have been transferred from the Bank of England in London to storage in Switzerland are still in London.
But he adds that the delay doesn't seem to be nefarious. Rather, Nieuwenhuijs writes, the problem is that the Swiss central bank's main gold vault is still being renovated and Switzerland's own gold reserves have been temporarily relocated as a result.
Comex prices for gold and silver aren't real anymore, Maguire says
Submitted by admin on Sat, 2022-07-16 11:04 Section: Daily Dispatches11:05a ET Saturday, July 16, 2022
Dear Friend of GATA and Gold:
Official intervention in the gold futures market to suppress the monetary metal's price is making conversion of gold contracts to physical metal immensely profitable, London gold trader Andrew Maguire says.
JPMorgan gold trader turned whistle-blower admits lying before he flipped
Submitted by admin on Fri, 2022-07-15 21:09 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
via Yahoo News, Sunnyvale, California
Friday, July 15, 2022
When FBI agents knocked on the door of his Brooklyn, New York, home in August 2018, trader John Edmonds told them he didn't know anything about gold and silver price manipulation at JPMorgan Chase & Co. That was a lie, he admitted Thursday.
When buying gold or silver, consider the dealers who support GATA
Submitted by admin on Fri, 2022-07-15 21:06 Section: Daily Dispatches9:05p ET Friday, July 15, 2022
Dear Friend of GATA and Gold:
Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio.
Alasdair Macleod: The collapsing euro and its implications
Submitted by admin on Thu, 2022-07-14 18:21 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, July 13, 2022
The euro system and its currency are descending into crisis. Comprised of the European Central Bank and the national central banks, the system is over its head in balance-sheet debt and it is far from clear how that can be resolved.
Normally, a central bank is easy to recapitalise. But in the case of the euro system, when the lead institution and all its shareholders need to be recapitalised all at the same time, the challenge could be impossible.
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Litigation over Venezuelan gold resumes in London court
Submitted by admin on Wed, 2022-07-13 21:35 Section: Daily DispatchesBy Kirstin Ridley and Marc Jones
Reuters
Wednesday, July 13, 2022
LONDON -- A long-running legal battle between Venezuelan President Nicolas Maduro and opposition leader Juan Guaido over who should hold the key to more than $1.5 billion of gold stored at the Bank of England resumed today at the London High Court.
The UK Supreme Court ruled last year that Guaido should be recognised as the Latin American country's head of state, taking a lead from the British government's position, and that he had the authority to determine the future of the 31 tonnes of bullion
Pam and Russ Martens: Brightest tech minds say crypto and blockchain are shams
Submitted by admin on Wed, 2022-07-13 11:19 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Wednesday, Junly 13, 2022
The letter is a punch in the gut to the Wall Street underwriters who have brought billions of dollars of crypto related companies to the public markets, most of which have now collapsed in price.
It makes the billionaire venture capitalists who have invested billions in crypto startups look like fools. And it renders the big-name celebrities who have promoted this garbage in TV commercials look like the shills that they are.
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JPMorgan gold desk's 'spoofing' cheated market, former trader testifies
Submitted by admin on Wed, 2022-07-13 11:06 Section: Daily DispatchesBy Tom Schoenberg and Eddie Spence
Bloomberg News
via Yahoo News, Sunnyvale, California
Wednesday, July 13, 2022
https://finance.yahoo.com/news/jpmorgan-gold-desk-cheated-market-211639062.html
JPMorgan Chase & Co.'s gold trading and sales team was so focused on making money that they scammed the market for years with so-called spoofing trades, according to a former colleague who testified at the trial of three former bank employees charged with fraud.
Hedge funds cut back trading after LME nickel chaos
Submitted by admin on Tue, 2022-07-12 10:38 Section: Daily DispatchesBy Laurence Fletcher
Financial Times, London
Tuesday, July 12, 2022
Hedge funds have cut back positions in some markets that they fear could suddenly become difficult to transact in, following the London Metal Exchange’s decision to void thousands of nickel trades.
The LME's move in March to cancel eight hours’ worth of trades has pushed a number of hedge funds to reassess the risk they face across their portfolios from human interference upending their positions.
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