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Daily Dispatches
Federal Reserve carrying $330 billion in unrealized losses on its assets
Submitted by admin on Mon, 2022-05-30 12:07 Section: Daily DispatchesBy Howard Schneider
Reuters
Friday, May 27, 2022
WASHINGTON -- The U.S. Federal Reserve is carrying $330 billion in unrealized losses on its holdings of U.S. Treasury and mortgage-backed securities as of the end of March, according to newly released financial statements showing the impact of rising interest rates on the market value of the Fed's balance sheet.
The central bank's holdings of nearly $9 trillion in assets still allowed the Fed to remit $32.2 billion to the U.S. Treasury in the first quarter of 2022, according to the documents.
When buying gold or silver, consider the dealers who support GATA
Submitted by admin on Mon, 2022-05-30 12:04 Section: Daily Dispatches12:04p Monday, May 30, 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.
Mining journalist, gold and silver advocate David Bond passes
Submitted by admin on Mon, 2022-05-30 11:56 Section: Daily Dispatches11:55a Monday, May 30, 2022
Dear Friend of GATA and Gold:
We should have taken note of the passing of monetary metals advocate and mining journalism David Bond of Wallace, Idaho, whose work often was publicized by GATA, but did not become aware of it until we went looking for him today.
His work was appreciated and he will be remembered for it.
A news obituary from the Coeur d'Alene Press from February 2020 can be found here:
Tennessee governor signs full repeal of sales taxes on gold and silver
Submitted by admin on Mon, 2022-05-30 11:35 Section: Daily DispatchesFrom Money Metals News Service
Eagle, Idaho
Sunday, May 29, 2022
NASHVILLE, Tennessee -- With Gov. Bill Lee's signature on Friday, Tennessee has officially become the 42nd state to remove sales taxes from constitutional sound money -- gold and silver.
Tennessee's House Bill 1874 and Senate Bill 1857, introduced by Rep. Bud Hulsey and Sen. Frank Niceley, passed both chambers of the Tennessee legislature overwhelmingly last month and took effect immediately upon the governor's signature at the start of Memorial Day weekend.
German inflation rises to record 8.7% as food and energy prices jump
Submitted by admin on Mon, 2022-05-30 10:41 Section: Daily DispatchesBy Martin Arnold
Financial Times, London
Monday, May 30, 2022
German inflation rose by more than expected to a new record of 8.7% in May, driven by soaring energy and food prices, increasing pressure on the European Central Bank to raise interest rates faster than planned.
The annual increase in the harmonised index of consumer prices in Germany was up from 7.8% in the previous month and higher than the 8% expected by economists, according to a Reuters poll.
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Ronan Manly: Czech Republic to join Visegrád Group allies in Central European gold rush
Submitted by admin on Sat, 2022-05-28 17:26 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Saturday, May 28, 2022
It was almost inevitable that the Czech Republic would buy more gold.
With all of its regional neighbours having recently either repatriated large quantities of gold (Germany and Austria) or bought large quantities of gold (Poland and Hungary), it seems that the Czech Republic has now taken note and does not want to be left out of this Central European gold rush.
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In 'Live From The Vault,' Andrew Maguire interviews Bill Holter
Submitted by admin on Sat, 2022-05-28 07:54 Section: Daily Dispatches7:55a ET Saturday, May 28, 2022
Dear Friend of GATA and Gold:
Kinesis Money's "Live From The Vault" program this week consists of a discussion between London bullion trader Andrew Maguire and financial analyst and GATA supporter Bill Holter, who argues that silver is the fuse that can excplode the Western financial derivatives system.
The interview is 40 minutes long and can be viewed at YouTube here:
When buying gold or silver, consider the dealers who support GATA
Submitted by admin on Sat, 2022-05-28 07:50 Section: Daily Dispatches7:49a ET Saturday, May 28, 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: A Roman lesson on inflation
Submitted by admin on Fri, 2022-05-27 20:56 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, May 26, 2022
After two centuries of debasement the Roman denarius ended up with no silver content. The decline of the empire was accompanied by increasingly costly bureaucracy, stifling the economy. It was a template for today.
There are differences. But we share suffocating bureaucracy and the lack of specie in our currency systems. As Rome did from Nero onwards, we have lost the plot. A general deterioration in our sense of purpose is an additional factor.
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New Czech central bank governor aspires to a huge increase in gold reserves
Submitted by admin on Fri, 2022-05-27 12:06 Section: Daily DispatchesIncoming Czech Central Bank Chief Wants More Stocks, Gold to Make Bank Profitable
By Jan Lopatka
Reuters via Nasdaq.com
Wednesday, May 25, 2022
PRAGUE, Czech Republic -- The Czech central bank needs to keep interest rates above standard levels, support the government in cutting budget deficits and urge wage restraint to avoid mostly supply-side inflation from spilling to the demand side, incoming Governor Ales Michl said in a magazine interview.
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