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Daily Dispatches
Bank runs happening across China as depositors can't get at their money
Submitted by admin on Thu, 2022-06-23 21:47 Section: Daily DispatchesBy Nicole Hao
The Epoch Times, New York
Thursday, June 23, 2022
After nearly one million Chinese people were unable to access their bank deposits in central China's Henan province earlier this year, residents in east China's Shanghai, south China's Shenzhen, north China's Dandong, and central-east China's Jiujiang reported the difficulties they faced when trying to withdraw cash from their bank accounts.
John Authers: The age of central bank credibility is over
Submitted by admin on Thu, 2022-06-23 11:54 Section: Daily DispatchesBy John Authers
Bloomberg News
Thursday, June 23, 2022
Monetary regimes don't fall often.
Half a century ago, in 1971, Richard Nixon ended the Age of Gold by formally eliminating the dollar's peg to the precious metal. Since then, the dollar and other currencies have rested on fiat -- they're worth something because governments say they are.
You could call this the Age of Credibility. In place of gold, currency's anchor is the trust in the central banks that issue them.
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Alasdair Macleod: Russia is winning the financial war
Submitted by admin on Thu, 2022-06-23 11:48 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, June 23, 2022
Sanctions have backfired on those described by Vladimir Putin as the unfriendly nations. It is setting in train a series of events likely to undermine the whole Western financial system, as prices rise driving interest rates higher, and economic activity shrinks. These developments alone are leading to contracting bank credit, crashing stock markets, and sharply higher bond yields.
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Swiss refiners say they didn't import mystery Russian gold
Submitted by admin on Thu, 2022-06-23 11:08 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Thursday, June 23, 2022
The industry association for Switzerland's gold refiners said its members didn't import gold from Russia last month, raising questions about who bought the country's precious metals.
Over 3 tons of gold -- worth about $200 million -- were shipped from Russia to Switzerland in May, almost all of which was marked as being for refining, according to data from the Swiss Federal Customs Administration. It was the first recorded shipment between the countries since February, when the war in Ukraine began.
GATA's Ed Steer discusses central banking's destruction of markets
Submitted by admin on Wed, 2022-06-22 15:46 Section: Daily Dispatches3:44p ET Wednesday, June 22, 2022
Dear Friend of GATA and Gold:
In an interview with "Operation Freedom" talk show host Dave Janda on WAAM-AM1600 in Ann Arbor, Michigan, GATA board member Ed Steer, publisher of Ed Steer's Gold & Silver Digest letter, discusses central banking's destruction of markets, including the gold market, and its pursuit of infinite money creation and inflation.
The interview is 24 minutes long and can be heard here:
When buying gold or silver, consider the dealers that support GATA
Submitted by admin on Tue, 2022-06-21 23:12 Section: Daily Dispatches11:12p ET Tuesday, June 21, 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.
Ronan Manly: Russia mobilizes its gold for war, EU moves to block it
Submitted by admin on Tue, 2022-06-21 23:10 Section: Daily Dispatches11:10p ET Tuesday, June 21, 2022
Dear Friend of GATA and Gold:
Bullion Star's Ronan Manly writes tonight that Russia appears to be preparing mechanisms for mobilizing its gold in support of war, while the European Union appears to be moving to prevent Russia from doing just that.
Manly's analysis is headlined "Russia Lines Up Its State Fund of Precious Metals for Military Mobilization" and it's posted at Bullion Star here:
After 15 years in mining he still says central banks leave gold alone
Submitted by admin on Tue, 2022-06-21 21:36 Section: Daily Dispatches9:48p ET Tuesday, June 21, 2022
Dear Friend of GATA and Gold:
Maybe it's only what to expect from a stock-touting service, but today's commentary by Alastair Ford, senior equities reporter for Proactive Investor in London, is disappointing all the same insofar as it comes from someone claiming 15 years of experience in the mining sector.
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Craig Hemke at Sprott Money: The 'washed-out' silver futures market
Submitted by admin on Tue, 2022-06-21 21:00 Section: Daily DispatchesBy Craig Hemke
TF Metals Report
via Sprott Money, Toronto
Tuesday, June 21, 2022
Recent data from the U.S. Commodity Futures Trading Commission suggests that Comex silver positioning is the most favorable since June 2019.
While this does not preclude more downside, it certainly suggests that any further price drops will be shallow.
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Switzerland imports Russian gold for first time since Ukraine war
Submitted by admin on Tue, 2022-06-21 06:41 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Tuesday, June 21, 2022
Switzerland imported gold from Russia for the first time since the invasion of Ukraine, showing the industry's stance toward the nation’s precious metals may be softening.
More than 3 tons of gold was shipped to Switzerland from Russia in May, according to data from the Swiss Federal Customs Administration. That's the first shipment between the countries since February.
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