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Daily Dispatches
Alasdair Macleod: The Great Unwind, II
Submitted by admin on Thu, 2022-11-03 10:23 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, November 3, 2022
With price inflation rising out of control and interest rates rising strongly, the trading environment for commercial banks has fundamentally changed. With bad debts looming and bond prices in entrenched downtrends, procrastination is now the enemy of bankers.
We are at the beginning of The Great Unwind, and this article elaborates on my first article for Goldmoney on the subject, published here:
Ambrose Evans-Pritchard: Europe's next debt crisis is only starting, tearing north and south apart
Submitted by admin on Wed, 2022-11-02 12:23 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, November 2, 2022
The eurozone credit crunch has begun in earnest. Lending conditions across the currency bloc are the tightest since late 2012, when the region was still crippled by the sovereign debt crisis.
The European Central Bank's lending survey is a leading indicator of what is to come. Both the supply and demand for credit definitively buckled in the third quarter, even if the eurozone economy eked out a last gasp of legacy growth. Lending is deteriorating most rapidly in Italy and Spain.
Dutch central bank governor admits gold revaluation can restore bank's solvency
Submitted by admin on Wed, 2022-11-02 12:01 Section: Daily Dispatches12:11p ET Wednesday, November 2, 2022
Dear Friend of GATA and Gold:
Gold researcher Jan Nieuwenhuijs reports today that the governor of the Netherlands central bank, Klaas Knot, is talking publicly about an upward revaluation of gold to restore the bank's solvency.
The central banker's comments might remind you of the gold revaluation speculations of the U.S. economists Paul Brodsky and Lee Quaintance and the Scottish economist Peter Millar, speculations GATA often has called to your attention:
USA Gold's 'News & Views' letter for November
Submitted by admin on Tue, 2022-11-01 10:27 Section: Daily Dispatches10:27a ET Tuesday, November 1, 2022
Dear Friend of GATA and Gold:
USA Gold's "News & Views" letter for November, published today, has excerpts from 15 analysts commenting on gold, currencies, and the economy. The letter is headlined "Steady Wins the Race" and it's posted in the clear at USA Gold here:
https://www.usagold.com/nv1047nov2022/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Who are the mystery buyers responsible for central bank gold boom?
Submitted by admin on Tue, 2022-11-01 07:50 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Monday, October 31, 2022
Central banks bought a record amount of gold last quarter as they diversified foreign-currency reserves, with a large chunk of the purchases coming from as yet unknown buyers.
Almost 400 tons were scooped up by central banks in the third quarter, more than quadruple the amount a year earlier, according to the World Gold Council. That takes the total so far this year to the highest since 1967, when the dollar was still backed by the metal.
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Record central bank buying lifts global gold demand, gold council says
Submitted by admin on Mon, 2022-10-31 23:14 Section: Daily DispatchesBy Peter Hobson
Reuters
Tuesday, November 1, 2022
LONDON -- Central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, helping to lift global demand for the metal, the World Gold Council said today.
Demand for gold was also strong from jewellers and buyers of gold bars and coins, the gold council said in its latest quarterly report, but exchange traded funds storing bullion for investors shrank.
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Pure Gold shareholders face wipeout after junior fails at Red Lake mine
Submitted by admin on Mon, 2022-10-31 22:23 Section: Daily DispatchesBy Niall McGee
Globe and Mail, Toronto
Monday, October 31, 2022
Pure Gold Mining Inc. PGM-X shareholders face losing their entire investment with the junior miner filing for creditor protection after it failed to turn around its gold project in the notoriously hard-to-mine Red Lake district of Northern Ontario.
Robert Lambourne: BIS gold swaps stay very low for second month
Submitted by admin on Mon, 2022-10-31 20:31 Section: Daily DispatchesBy Robert Lambourne
Monday, October 31, 2022
The recently released September statement of account of the Bank for International Settlements --
Brien Lundin: A real silver squeeze may be underway
Submitted by admin on Mon, 2022-10-31 13:26 Section: Daily DispatchesBy Brien Lundin, Editor
Gold Newsletter / Golden Opportunities
Metairie, Louisiana
Monday, October 31, 2022
If recent data -- and some little-noticed correspondence between the Comex futures exchange and the U.S. Commodity Futures Trading Commission -- are any indication, we could be in for a new silver squeeze that will finally upset the rigged "paper silver" game.
Eurozone inflation hits record 10.7%
Submitted by admin on Mon, 2022-10-31 12:54 Section: Daily DispatchesBy Martin Arnold
Financial Times, London
Monday, October 21, 2022
Eurozone inflation surged to a record high of 10.7% in October, keeping the pressure on the European Central Bank to continue raising interest rates despite a sharp slowdown in growth in the third quarter.
The increase in eurozone consumer prices accelerated from 9.9% in September, which was already the highest in the 23-year history of the euro.
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