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Daily Dispatches
Desperate for cash, Venezuela keeps selling gold
Submitted by admin on Tue, 2021-09-07 21:27 Section: Daily DispatchesVenezuelan Central Bank Gold Reserves Fall as Maduro Seeks Cash
From Reuters
Tuesday, September 7, 2021
CARACAS -- Venezuela's gold reserves fell by 3 tonnes in the first half of 2021 to their lowest level in 50 years, central bank data showed today, as President Nicolas Maduro's cash-strapped government continues selling gold as a source of income.
The withdrawals in the first six months of the year brought total reserves to 83 tonnes. The once-prosperous OPEC nation's economy is mired in a years-long collapse, starving the government of funds.
Tour the Bank for International Settlements exhibition to discern all that's missing
Submitted by admin on Tue, 2021-09-07 12:24 Section: Daily Dispatches12:35p ET Tuesday, September 7, 2021
Dear Friend of GATA and Gold:
If you're near Switzerland at the end of October and the beginning of November, you might want to head over to Basel to help the Bank for International Settlements celebrate itself.
The bank announced yesterday that it is planning "a special exhibition marking its 90 years of promoting global monetary and financial stability":
Real yields on European junk bonds go negative for first time
Submitted by admin on Tue, 2021-09-07 11:20 Section: Daily DispatchesBy Naomi Rovnick and Martin Arnold
Financial Times, London
Tuesday, September 7, 2021
Investors in European junk bonds have begun accepting interest payments that are lower than eurozone inflation levels for the first time ever, in the latest sign that central banks' crisis-era debt purchases have shifted the balance between risk and reward.
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Good Mining Exploration Resumes Search
for Gold at Golden Target Project in Ontario
'Enormous' treasure trove of 6th-century gold found in Denmark
Submitted by admin on Mon, 2021-09-06 18:13 Section: Daily DispatchesFrom Agence France-Presse
via EuroNews, Lyon, France
Sunday, September 5, 2021
One of the biggest treasure troves ever found in Denmark has been discovered in the southwest of the country.
Some 22 gold objects, dating from the sixth century, were discovered by an amateur archaeologist near the town of Jelling.
According to the Vejle Museum, where the horde is due to be displayed, Ole Ginnerup Schytz had just acquired a metal detector and was walking the fields when he came across the gold.
Venezuela's new 'lettuce'-based economy is good enough for now
Submitted by admin on Mon, 2021-09-06 08:53 Section: Daily DispatchesBy Virginia Lopez Glass
The New York Times
September 6, 2021
CARACAS, Venezuela -- A few years ago, Venezuela was experiencing such devastating food shortages that people stood for hours in lines just for a chance to buy basic staples. Venezuelans reported losing an average of 24 pounds in 2017. Today such hard times feel like a distant nightmare.
India's August gold imports nearly double from last year, highest in 5 months
Submitted by admin on Mon, 2021-09-06 08:46 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
Monday, September 6, 2021
MUMBAI -- India's gold imports in August nearly doubled from a year earlier to the highest in five months on strong demand and as weaker prices prompted jewellers to ramp up purchases for the festive season, a government source said.
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Crypto's rapid move into banking elicits alarm in Washington
Submitted by admin on Sun, 2021-09-05 13:18 Section: Daily DispatchesBy Eric Lipton and Ephrat Livni
The New York Times
Sunday, September 5, 2021
BlockFi, a fast-growing financial start-up whose headquarters in Jersey City are across the Hudson River from Wall Street, aspires to be the JPMorgan Chase of cryptocurrency.
It offers credit cards, loans, and interest-generating accounts. But rather than dealing primarily in dollars, BlockFi operates in the rapidly expanding world of digital currencies, one of a new generation of institutions effectively creating an alternative banking system on the frontiers of technology.
Dave Kranzler: Gold and silver shares are extremely cheap
Submitted by admin on Fri, 2021-09-03 17:00 Section: Daily Dispatches5p ET Friday, September 3, 2021
Dear Friend of GATA and Gold:
Dave Kranzler of Investment Resarch Dynamics in Denver writes today that gold and silver mining stocks are extremely cheap relative to gold and silver prices. He thinks the shares are forming a bottom.
Kranzler's analysis is headlined "A Taper Is Likely Off the Table -- Gold, Silver and Mining Stocks Are Ready to Rumble" and it's posted at IRD here:
Alasdair Macleod: Inflation is a monetary curse
Submitted by admin on Thu, 2021-09-02 12:39 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, September 2, 2021
Remarkably, in a speech on monetary policy given at the Jackson Hole conference last Friday, Federal Reserve Chairman Jay Powell never mentioned money, money supply, M1, or M2. With money supply expanding at a record pace to fund both quantitative easing and intractable budget deficits, the omission is extraordinary.
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Good Mining Exploration Resumes Search
for Gold at Golden Target Project in Ontario
Russia's gold and FX reserves hit record high after IMF transfer
Submitted by admin on Thu, 2021-09-02 11:53 Section: Daily DispatchesRussia's gold and FX reserves hit record high after IMF transfer
From Reuters
Thursday, September 2, 2021
MOSCOW -- Russia's international gold and foreign currency reserves rose to a record high of $615.6 billion after receiving a tranche from the International Monetary Fund, the central bank said today.
The IMF gave Russia around $17.5 billion in its Special Drawing Rights in late August as part of the global $650 billion SDR allocation, its largest distribution of monetary reserves on record.
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