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Daily Dispatches
Pam and Russ Martens: Fed telegraphs disaster for mega-banks: rapid rate hikes hitting trillions in derivatives
Submitted by admin on Mon, 2022-04-25 11:23 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, April 25, 2022
The Federal Reserve is the central bank of the United States. It sets monetary policy, including control of the benchmark short-term interest rate known as the Federal Funds rate, or in Wall Street jargon, the "Fed Funds" rate.
This is a key rate because it signals the rate at which overnight loans are made between financial institutions and the direction of interest rates in general.
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Lisa Abramowicz: The Fed is losing control over the inflation narrative
Submitted by admin on Sun, 2022-04-24 11:49 Section: Daily DispatchesBy Lisa Abramowicz
Bloomberg News
via The Washington Post
Sunday, April 24, 2022
The Federal Reserve is poised to raise interest rates at the fastest pace in 40 years after policy makers' hawkish rhetoric turned more aggressive last week. The problem, though, is that bond traders keep boosting their longer-term inflation expectations in a very concerning development for the central bank, the economy and financial markets.
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Payment in gold earns big discount on Russian oil in London trading, Maguire says
Submitted by admin on Sat, 2022-04-23 21:20 Section: Daily Dispatches9:23p ET Saturday, April 23, 2022
Dear Friend of GATA and Gold:
In this week's "Live from the Vault" program from Kinesis Money, London metals trader Andrew Maguire tells host Shane Morand that, through intermediaries -- presumably Chinese -- Russian oil is available at a big discount via trading in London when purchased with gold. This arbitrage is increasing demand for real metal in London, Maguire says, and he expects it to put great strain on the "paper" gold trade there.
The program is 36 minutes long and can be seen at YouTube here:
EU admits rouble payments for Russia's gas might not breach sanctions
Submitted by admin on Fri, 2022-04-22 20:55 Section: Daily DispatchesBy James Warrington and Giulia Bottaro
The Telegraph, London
Friday, April 22, 2022
The European Union admitted that countries may be able to comply with Russian President Vladimir Putin's demand for gas payments in roubles without breaching sanctions against Russia.
London Metal Exchange abandons attempt to crack gold market
Submitted by admin on Fri, 2022-04-22 13:26 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Friday, April 22, 2022
The London Metal Exchange will abandon its attempt to break into precious-metal trading after just five years, citing low trading volumes in its gold and silver contracts.
Gold is 'bargain of the century," Swiss Asia Capital's Kiener tells Bloomberg TV
Submitted by admin on Fri, 2022-04-22 10:14 Section: Daily Dispatches10:14a ET Friday, April 22, 2022
Dear Friend of GATA and Gold:
Gold is the metal with the lowest risk in possession and "the bargain of the century," Swiss Asia Capital founding partner Juerg Kiener tells Bloomberg Television in Singapore in an interview today. But, Kiener adds, "We see a lot of paper market interventions" in gold.
Alasdair Macleod: Value destruction as the financial bubble collapses
Submitted by admin on Thu, 2022-04-21 12:57 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, April 21, 2022
In recent articles I have argued that the era of a financialised fiat dollar standard is ending. This article takes my hypothesis further and explains that it is not just the emergence of new commodity backed currencies in Asia that will threaten the dominance of Western currencies, but the Federal Reserve's failing monetary policies and those of the other major central banks.
An unstoppable rise in interest rates will in large part be responsible for their demise.
Ronan Manly: Where are Russia's gold reserves stored?
Submitted by admin on Thu, 2022-04-21 12:31 Section: Daily Dispatches12:39p ET Thursday, April 21, 2022
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly today delves into Russia's gold reserves to determine their locations and the amounts at each location and concludes that not much more can be established than that they are vaulted in Moscow, St. Petersberg, Yakaterinburg in the Urals -- and maybe elsewhere in the country.
Manly adds that Russia also may be holding gold outside the country, though probably not with traditionally unfriendly countries.
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Sahara solar could soon rescue Britain's broken energy system, replacing OPEC and Russia
Submitted by admin on Wed, 2022-04-20 13:08 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, April 20, 2022
Within five years, the world's longest undersea cable will link Devon to a vast territory of solar panels in the Sahara Desert, supplying electricity directly into Britain's grid at a fraction of today's power prices.
A second cable will land two years later in 2029. Together they will provide 3.6 gigawatts of constant baseload power, equivalent to two Hinkley-sized nuclear reactors. The difference is that we will be able to afford it. That, at least, is the plan.
Israel adds yuan, reduces dollar and euro in 'philosophy' change for FX reserves
Submitted by admin on Wed, 2022-04-20 12:57 Section: Daily DispatchesBy Daniel Avis
Bloomberg News
Wednesday, April 20, 2022
Israel's central bank has made the biggest changes to its allocation of reserves in over a decade, adding the Chinese yuan alongside three other currencies to a stockpile that last year exceeded $200 billion for the first time ever.
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