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Daily Dispatches
Alasdair Macleod: The credit cycle and the zombies' downfall
Submitted by admin on Thu, 2021-12-16 13:18 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, December 16, 2021
Leading central banks like to think that through careful interest rate management, they have tamed the economic cycles which lead to regular economic downturns. Instead, they have only managed to bury the evidence.
Russia's central bank would stop investment in cryptocurrencies
Submitted by admin on Thu, 2021-12-16 12:39 Section: Daily DispatchesBy Elena Fabrichnaya and Andrey Ostroukh
Reuters
Thursday, December 16, 2021
MOSCOW -- The Russian central bank wants to ban investments in cryptocurrencies in Russia, seeing risks to financial stability in the rising number of crypto transactions, two financial market sources close to the bank said.
Leading cryptocurrency bitcoin fell after the report to $48,656 from levels around $49,144 seen shortly before.
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Biden nominates two Republicans for depleted CFTC
Submitted by admin on Thu, 2021-12-16 09:25 Section: Daily DispatchesBy Pete Schroeder
Reuters
Thursday, December 15, 2021
https://www.reuters.com/world/us/biden-taps-two-us-cftc-white-house-2021-12-15/
WASHINGTON, Dec 15 (Reuters) - President Joe Biden on Wednesday nominated Summer Mersinger and Caroline Pham to fill two Republican spots on the Commodity Futures Trading Commission, the White House said.
Ed Steer's Gold and Silver Digest for Dec. 12
Submitted by admin on Wed, 2021-12-15 22:24 Section: Daily Dispatches11:30a ET Tuesday, December 14, 2021
Dear Friend of GATA and Gold:
GATA board member Ed Steer's Gold and Silver Digest (https://edsteergoldsilver.com/) letter for December 12, headlined "Another Very Excellent CoT Report," has been posted in the clear at GoldSeek's companion site, SilverSeek, here:
https://silverseek.com/article/another-very-excellent-cot-report
Craig Hemke at Sprott Money: After the Fed
Submitted by admin on Wed, 2021-12-15 22:18 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Wednesday, December 15, 2021
As I type this on Wednesday morning, there's really no sense in discussing other news or datapoints today, as everything is meaningless ahead of the Federal Open Market Committee -- which should stop you in your tracks when you consider how Fed-dependent EVERYTHING has become.
The news doesn't matter anymore. All that matters is the anticipated Fed reaction to said news. Could "the markets" be any more broken?
So what is expected today? Anything and nothing. How about these scenarios? ...
'Imagine' free markets in the monetary metals
Submitted by admin on Tue, 2021-12-14 11:35 Section: Daily Dispatches11:30a ET Tuesday, December 14, 2021
Dear Friend of GATA and Gold:
GATA board member Ed Steer's newsletter (https://edsteergoldsilver.com/) today calls attention to a clever adaptation of John Lennon's "Imagine" by subscriber Ray Cordes, wistfully contemplating, as Lennon did, what may never be -- in this case, free markets in the monetary metals.
Ronan Manly: Coordinated jawboning from central banks, but 'you can't taper a Ponzi'
Submitted by admin on Mon, 2021-12-13 20:54 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Monday, December 13, 2021
For the world's financial markets, which have become literally dependent on the pronouncements of central banks, this week is lining up to be one of the most important in a while.
Because this week no fewer than four of the most powerful central banks are meeting to discuss quantitative easing (QE) and interest rate decisions, after which they will "inform" financial markets as to what extent the markets will be kept on life-support stimulus.
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Bloomberg purports to be unable to understand what used to be called 'financial repression'
Submitted by admin on Mon, 2021-12-13 11:33 Section: Daily DispatchesBond Traders Stare at Worst Real Returns Since Volcker Era
By Ye Xie and Liz McCormick
Bloomberg News
Monday, December 13, 2021
Treasury investors are losing more money than they have in four decades, once inflation is taken into account. And if markets are right, they're unlikely to come out ahead for years.
Robert Lambourne: BIS gold swaps increased slightly in November
Submitted by admin on Sun, 2021-12-12 22:32 Section: Daily DispatchesBy Robert Lambourne
Sunday, December 12, 2021
The recently released November statement of account of the Bank for International Settlements —
https://www.bis.org/banking/balsheet/statofacc211130.pdf
— contains information suggesting an increase of about 37 tonnes in the bank's gold swaps, from 414 tonnes in October to 451 tonnes in November.
This compares to the record high estimated at 552 tonnes as of February 25 this year.
IMF, 10 countries simulate cyberattack on world financial system
Submitted by admin on Fri, 2021-12-10 23:29 Section: Daily DispatchesBy Steven Scheer
Reuters
Thursday, December 8, 2021
JERUSALEM -- Israel today led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage to financial markets and banks.
The simulated "war game," as Israel's Finance Ministry called it and planned over the past year, evolved over 10 days, with sensitive data emerging on the Dark Web. The simulation also used fake news reports that in the scenario caused chaos in global markets and a run on banks.
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