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Russian central bank chief rejects linking ruble to gold, differing with Kremlin
Submitted by admin on Fri, 2022-04-29 11:47 Section: Daily DispatchesFrom Bloomberg News
Friday, April 29, 2022
Bank of Russia Governor Elvira Nabiullina today dismissed the idea of pegging the ruble to gold after the Kremlin said it was a proposal under consideration.
"It is not being discussed in any way," Nabiullina told reporters at a briefing after the central bank cut the key interest rate by 300 basis points.
The ruble must continue to have a floating exchange rate, she said, though volatility of the currency will be higher amid capital controls imposed after Russia began its invasion of Ukraine.
Ronan Manly: Kremlin confirms intention to back the ruble with gold and commodities
Submitted by admin on Thu, 2022-04-28 20:14 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Thursday, April 28, 2022
On Tuesday, April 26, in an interview with newspaper Rossiyskaya Gazeta, the secretary of the Russian Federation’s Security Council, Nikolai Patrushev, said that Russian experts are working on a project to back the Russian ruble with gold and other commodities.
The interview, which is in Russian, can be seen on the newspaper's website here:
Tennessee becomes 42nd state to end sales taxes on gold and silver
Submitted by admin on Thu, 2022-04-28 13:05 Section: Daily DispatchesBy Stefan Gleason
Money Metals Exchange, Eagle, Idaho
via Coin Week, Ormond Beach, Florida
Thursday, April 28, 2022
Both houses of the Tennessee legislature yesterday overwhelmingly passed bills that would make the Volunteer State the 42nd state in the U.S. to remove sales taxes from constitutional sound money -- gold and silver).
Alasdair Macleod: Building a better banking system
Submitted by admin on Thu, 2022-04-28 12:54 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, April 28, 2022
This article anticipates the rapidly approaching time when we might be engulfed in a combined currency, asset, and banking crisis. It is becoming clear that such an event can no longer be ruled out.
Ed Steer: The nearly comprehensive complicity in monetary metals price suppression
Submitted by admin on Thu, 2022-04-28 11:37 Section: Daily DispatchesCanadian mining and media mogul and zillionaire Frank Giustra, quoted below in an excerpt from GATA board member Ed Steer's market letter today, has declined over the years several requests to help GATA or just acknowledge its work. But then as a respectable figure in the world's financial establishment and a pal and major financial benefactor of former President Bill Clinton --
Pam and Russ Martens: Mega-banks are tanking, the same ones Fed rescued in 2019
Submitted by admin on Wed, 2022-04-27 12:03 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Wednesday, April 27, 2022
As long-term readers of Wall Street On Parade know well, we have regularly warned that the failure of Congress to meaningfully reform Wall Street by restoring the Glass-Steagall Act poses a security threat to our nation in times of crisis.
Craig Hemke at Sprott Money: Where are stocks and gold going?
Submitted by admin on Tue, 2022-04-26 21:38 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, April 26, 2022
Two weeks ago we wrote a post that warned against a pending drop in the stock market. Two weeks later, it's probably a good idea to update that theme.
The post from two weeks ago mainly focused upon remarks from Fed goons Dudley and Bullard, and it followed a sort of "don't fight the Fed" narrative. To wit, if the Fed is intent upon "inflicting more losses upon stock market investors," you might want to take that into your investment considerations. Here's the link:
Swiss gold exports to U.S. rocketed in March
Submitted by admin on Tue, 2022-04-26 11:15 Section: Daily DispatchesFrom Reuters
Tuesday, April 26, 2022
LONDON -- Swiss shipments of gold to the United States surged in March to their highest since May 2020, Swiss customs data showed, as investors spooked by Russia's invasion of Ukraine and the threat of a global economic slowdown stocked up on bullion.
Switzerland's exports to Britain, which like the United States is a centre for gold investment and trading, also rose, while shipments of gold to China and India, the biggest consumer markets, fell sharply.
Toronto-based Kinross Gold to exit Ghana mine in US$225-million deal
Submitted by admin on Mon, 2022-04-25 21:13 Section: Daily DispatchesBy Niall McGee
The Globe and Mail, Toronto
Monday, April 25, 2022
Kinross Gold Corp. plans to sell its Ghana gold mine, as it continues on its quest to unload problem assets and reinvent itself as a less risky investment among the giants of the global gold sector.
Kinross, Canada’s second-biggest gold miner by production, said on Monday that it plans to sell its 90-per-cent stake in the Chirano mine for US$225-million to Asante Gold Corp., a Vancouver-based junior development company.
Russian rouble nears 2-year high vs. euro
Submitted by admin on Mon, 2022-04-25 12:37 Section: Daily DispatchesFrom Reuters
Monday, April 25, 2022
The Russian rouble strengthened on Monday, firming past 77 against the euro to a near two-year high, helped by tax payments that companies are due to make this week and as the market looked ahead to a central bank rate decision on Friday.
By 1453 GMT, the rouble had gained 3.6% to trade at 77.25 versus the euro , earlier clipping 76.96, its strongest mark since June 2020.
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