You are here
Daily Dispatches
Alasdair Macleod: Financial war may crash euro system, end fiat Ponzi, exalt gold
Submitted by admin on Thu, 2022-03-03 14:09 Section: Daily DispatchesWhen Normality Is Exposed as a Ponzi
By Alasdair Macleod
GoldMoney, Toronto
Thursday, March 3, 2022
Russian President Vladimir Putin's hubris, yes-men for generals, lack of fighting conviction among the men, poor logistics, and strong Ukrainian leadership and determination have combined to turn the Russian invasion of Ukraine into a military quagmire.
To lessen appeal of foreign currency, Russia prepares to end tax on gold bars
Submitted by admin on Thu, 2022-03-03 13:56 Section: Daily DispatchesWhat has taken Russia so long to get around to this?
* * *
Ministry of Finance Supports Abolition of Value-Added Tax on Gold Bars for Individuals
By Anastasia Selivanova
Rossiyskaya Gazeta, Moscow
Wednesday, March 2, 2022
https://rg.ru/2022/03/02/minfin-podderzhal-otmenu-nds-na-zolotye-slitki-dlia-fizlic.html
How Putin prepared for sanctions with tonnes of African gold
Submitted by admin on Thu, 2022-03-03 13:41 Section: Daily DispatchesBy Tom Collins
The Telegraph, London
Thursday, March 3, 2022
Russia has smuggled hundreds of tonnes of illicit gold from Sudan over the last few years as part of wider efforts to build "fortress Russia" and ward against anticipated Ukraine-related sanctions.
The Kremlin has more than quadrupled the amount of gold held in Russia’s central bank since 2010, creating a "war chest" through a mix of foreign imports and vast domestic gold reserves as the third largest producer of the precious metal in the world.
... Dispatch continues below ...
Harold James and Brendan Greeley: Gold fetishism has had its day
Submitted by admin on Thu, 2022-03-03 13:34 Section: Daily DispatchesBy Harold James and Brendan Greeley
Financial Times, London
Wednesday, March 2, 2022
https://www.ft.com/content/1de156dc-e4aa-4afb-accf-69c62193cbc6
Putin's war on Ukraine rested on two premises: that a massive show of force would demoralise Kyiv; and that Russia's $630 billion in financial reserves would deter anyone who might question the value of the rouble.
Kinross Gold suspending Russian mining operations amid Ukraine invasion
Submitted by admin on Thu, 2022-03-03 13:10 Section: Daily DispatchesBy Niall McGee
The Globe and Mail, Toronto
Thursday, March 3, 2022
Kinross Gold Corp. is suspending its mining operations and all development work in Russia's far east, amid the country's continuing military incursion into Ukraine.
Last year Russia accounted for 23% of Kinross' production, and the Kupol mine complex was its most profitable operation, generating US$443-million in income.
... Dispatch continues below ...
... ADVERTISEMENT ...
Gold, silver, base metals, commodities, and help for GATA in The Calandra Report
Submitted by admin on Tue, 2022-03-01 22:08 Section: Daily Dispatches10:17p ET Tuesday, March 1, 2022
Dear Friend of GATA and Gold:
The gold price, the TF Metals Report's Craig Hemke wrote tonight at Sprott Money, carries more than a "war premium." Additionally, anyone who follows GATA knows that there long has been a massive and uncoverable short position in gold instigated and backstopped by central banks. This short position will be called someday, and when that happens, the monetary metals mining industry will be much more profitable.
Craig Hemke at Sprott Money: Gold's rise is more than a war premium
Submitted by admin on Tue, 2022-03-01 21:15 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, March 1, 2022
As anyone who has watched the precious metals for any amount of time will tell you, price rallies on geopolitical concerns rarely hold. The same might be true today. However, do not make the mistake of thinking that the current rally in gold and silver is based solely upon geopolitics. There's a lot more going on at present, and those drivers will persist regardless of the outcome of the Ukraine crisis.
... Dispatch continues below ...
Ronan Manly: LBMA quietly expels its two Russian bank members
Submitted by admin on Tue, 2022-03-01 09:56 Section: Daily Dispatches9:56a ET Tuesday, March 1, 2022
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly reports that the London Bullion Market Association has quietly expelled its two Russian bank members. Manly adds that Western economic sanctions against Russia may impair the tradability of "London good delivery" gold bars produced by Russian refiners and purchased long before sanctions were imposed.
Manly's report is headlined "LBMA a Deer in Headlights as Western Sanctions Show Up Russian Gold Refiners" and it's posted at Bullion Star here:
BIS hasn't answered the question about Russian transactions
Submitted by admin on Mon, 2022-02-28 13:31 Section: Daily Dispatches1:35p ET Monday, February 28, 2022
Dear Friend of GATA and Gold:
Last night as Western economic sanctions against Russia over its invasion of Ukraine started to get more serious, your secretary/treasurer sent a question to the press office of the Bank for International Settlements in Switzerland:
"Is the BIS freezing or otherwise restricting Russian assets and transactions through the BIS?"
... Dispatch continues below ...
... ADVERTISEMENT ...
USAGold's 'News & Views' for March: Waiting for the Fed
Submitted by admin on Mon, 2022-02-28 12:59 Section: Daily Dispatches12:58p ET Monday, February 28, 2022
Dear Friend of GATA and Gold:
USAGold's "News & Views" letter for March is headlined "Waiting for the Fed" and makes reference to the 1950s play by Samuel Beckett, "Waiting for Godot," which, for some reason, high schools across the country used to make required reading, maybe because it was meaningless. In any case, as "News & Views" notes, in the play Godot never shows up.
Pages
