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Daily Dispatches
Burkina Faso will withdraw some mining permits, junta leader says
Submitted by admin on Sat, 2024-10-05 13:09 Section: Daily DispatchesBy Alessandra Prentice
Reuters
Saturday, October 5, 2024
Burkina Faso plans to withdraw mining permits from some foreign companies and will seek to produce more of its own gold, junta leader Ibrahim Traore said today, without specifying which permits could be cancelled.
"We know how to mine our gold and I don't understand why we're going to let multinationals come and mine it," Traore said in a radio address to mark two years since he seized power in a coup.
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Russia to boost silver reserves in major precious metals strategy shift
Submitted by admin on Sat, 2024-10-05 10:58 Section: Daily DispatchesFrom the Jerusalem Post
Friday, October 4, 2024
Russia may be poised to make a notable shift in its precious metals strategy, with silver potentially emerging as a key asset in the country's expanding State Fund.
According to a report released by Interfax this week and cited by Bloomberg News, Russia's draft federal budget outlines plans to significantly bolster its holdings in precious metals over the coming years. Notably, the budget includes plans to acquire gold, platinum, palladium, and, for the first time, silver.
Poland's central bank to keep acquiring gold, already claims more than the UK
Submitted by admin on Sat, 2024-10-05 10:41 Section: Daily DispatchesPolish Central Bank Increases Gold Reserves
From Polish Radio, Warsaw
Friday, October 4, 2024
https://www.polskieradio.pl/395/7786/Artykul/3431781,polish-central-bank-increases-gold-reserves
Poland's central bank has expanded its gold reserves to 420 tonnes, making it one of the leading gold reserve holders globally, its governor said Thursday.
Jan Nieuwenhuijs: How France secretly repatriated all its gold before Nixon's dollar devaluation
Submitted by admin on Sat, 2024-10-05 09:55 Section: Daily Dispatches9:56a ET Saturday, October 5, 2024
Dear Friend of GATA and Gold:
Gold researcher Jan Nieuwenhuijs today provides a fascinating and extraordinarily detailed history of France's famous but generally unexamined departure from Western gold price suppression policy and the repatriation of French gold reserves from the United States and United Kingdom in the 1960s and early '70s.
Gold revaluation is already underway in the open by the BRICs, Maguire tells LFTV
Submitted by admin on Sat, 2024-10-05 09:28 Section: Daily Dispatches9:27a ET Saturday, October 5, 2024
Dear Friend of GATA and Gold:
In this week's edition of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire outlines what he says are the many bullish drivers of the gold price.
He says Chinese central bank buying remained strong this week though retail buying was absent because of the "Golden Week" holidays.
Indian central bank buying remained strong as well, Maguire says.
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Brian Maher: America's 'quiet coup'
Submitted by admin on Fri, 2024-10-04 18:26 Section: Daily DispatchesBy Brian Maher
Daily Reckoning, Baltimore
Friday, October 4, 2024
Is the United States enduring a "quiet coup"?
Economist Peter St. Onge: "In the wake of the 2008 financial crisis, former chief economist of the International Monetary Fund, Simon Johnson, warned that the same dysfunctional policies he saw in his basket-case banana republics had taken hold in the United States.
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Coeur Mining to buy Canadian precious metals miner SilverCrest Metals for $1.7 billion
Submitted by admin on Fri, 2024-10-04 17:16 Section: Daily DispatchesBy Niall McGee
The Globe and Mail, Toronto
Friday, October 4, 2024
Coeur Mining Inc. is buying Vancouver-based SilverCrest Metals Inc. in a US$1.7-billion all-stock deal that should see the American precious metals producer increase its cash flow considerably and cut its high debt load.
Chicago-based Coeur announced today it is paying 1.6022 of its shares for each SilverCrest share, or US$11.34 a share. The deal price is a 22% premium to SilverCrest’s closing price on Thursday on the New York Stock Exchange.
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Fed's paper losses exceed $200 billion
Submitted by admin on Thu, 2024-10-03 20:21 Section: Daily DispatchesBy Michael S. Derby
Reuters
via Yahoo News, Sunnyvale, California
Thursday, October 3, 2024
NEW YORK -- U.S. Federal Reserve losses crossed the $200 billion point this week, according to data released today by the central bank.
The Fed reported that as of Wednesday, the level of its so-called earnings remittance to the Treasury Department stood at negative $201.2 billion. The number represents a paper loss that central bank officials have noted does not impair their ability to conduct monetary policy.
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Joshua D. Glawson: The untold history of gold rushes in the United States
Submitted by admin on Thu, 2024-10-03 08:36 Section: Daily DispatchesBy Joshua D. Glawson
Money Metals Exchange, Eagle, Idaho
Wednesday, October 2, 2024
The discovery of gold in the United States profoundly shaped the nation's economic and social development, especially during the 19th century.
These gold rushes transformed regional economies, spurred massive population movements, led to the establishment of new towns, and influenced U.S. territorial expansion.
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Jim Rickards: Here comes the biggest monetary shock in 50 years
Submitted by admin on Wed, 2024-10-02 11:29 Section: Daily DispatchesBy James Rickards
Daily Reckoning, Baltimore
Monday, September 30, 2024
... [W]ith so much attention focused on the U.S. presidential election, the war in Ukraine, and the war in Gaza, which is spreading to Lebanon, it's easy to lose sight of other geopolitical developments that may be even more significant in the long run.
One of these developments is the rise of the new BRICS currency and its potential role in the global monetary system.
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