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Daily Dispatches
Alasdair Macleod: The dollar's debt trap
Submitted by admin on Thu, 2021-08-19 13:07 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, August 19, 2021
On the 50th anniversary of the Nixon Shock, this article explains why fiat currencies have become joined at the hip to financial asset values, and why they are about to descend into the next financial crisis together.
Rare 1804 silver dollar sells for record-breaking $7.7 million
Submitted by admin on Wed, 2021-08-18 21:16 Section: Daily DispatchesBy Rachel Cormack
Robb Report, Los Angeles
Wednesday, August 18, 2021
The king of American coins just fetched a princely, world-record sum.
The single finest example of the 1804 U.S. silver dollar sold Tuesday for an astonishing $7.68 million at a Stack's Bowers Galleries auction to become the most expensive coin of its kind.
The Class I silver dollar, which has been graded Proof-68 by Professional Coin Grading Service, was offered from the collection of the late coin connoisseur D. Brent Pogue and boasts one helluva backstory.
Financial Times: Believe in unicorns, not gold
Submitted by admin on Tue, 2021-08-17 21:18 Section: Daily Dispatches9:27p ET Tuesday, August 17, 2021
Dear Friend of GATA and Gold:
In its editorial today, "A 50-Year Quest for Monetary Stability," the Financial Times, the posturing mouthpiece of the Anglo-American financial establishment, notes the 50th anniversary of the destruction of the Bretton Woods system of linking gold to the U.S. dollar, and, through the dollar, to all major currencies. The FT declares that "nostalgia for the gold standard is misguided and misplaced":
Craig Hemke at Sprott Money: A system of confidence is going down the tubes
Submitted by admin on Tue, 2021-08-17 20:38 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, August 17, 2021
On Twitter this week someone sent me a note asking if this weekend's events represented "Peak America." I responded that "Peak America" actually came a long time ago.
The fall of Afghanistan is just the latest milepost on the way down.
And what does this have to do with the precious metals? Everything!
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The great New Orleans conference returns, and with a money-back guarantee
Submitted by admin on Tue, 2021-08-17 20:34 Section: Daily DispatchesBy Brien Lundin
Publisher, Gold Newsletter
CEO, New Orleans Investment Conference
Tuesday, August 17, 2021
This year’s New Orleans Investment Conference is coming up -- Tuesday through Friday, October 19-22 -- and you’ll kick yourself if you miss it.
Why? Because this is without a doubt the most valuable, important, rewarding -- and eagerly awaited --event in many years.
It will be the first big in-person event of its kind post-pandemic --a "welcome home" for hundreds of today's smartest and most active investors.
Edwin Vieira: The constitutional questions on money need to be answered
Submitted by admin on Tue, 2021-08-17 16:51 Section: Daily DispatchesBy Edwin Vieira
The New York Sun
Tuesday, August 17, 2021
Any close observer of contemporary discussions of monetary policy must become disheartened by the tendency to treat that subject as a matter of politics, economics, and social effects, with little to no consideration of its necessary foundation in monetary law -- and, even more to the point, of the dependence of monetary law on the Constitution of the United States.
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Palantir purchases $50 million in gold bars as cash pile grows
Submitted by admin on Tue, 2021-08-17 16:43 Section: Daily DispatchesBy Jordan Novel
CNBC, New York
Tuesday, August 17, 2021
While some companies such as Tesla are diversifying into bitcoin, data analytics software company Palantir is betting on gold. Palantir bought $50 million in gold bars in August, the company disclosed in its latest earnings statement.
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Ronan Manly: How Britain's request for $3 billion in metal shattered the 'gold window'
Submitted by admin on Tue, 2021-08-17 12:14 Section: Daily Dispatches12:10p ET Tuesday, August 17, 2021
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly has produced a detailed report on the de-facto bank run that caused the closing of the U.S. government's "gold window" in August 1971 -- European government requests, particularly from France and, more so, the United Kingdom, to convert huge amounts of their dollars into metal.
Manly reports evidence that even back then the United States did not have the gold reserves it claimed to have, at least not in "good delivery" form.
India's central bank buys record amount of gold in first half of 2021
Submitted by admin on Tue, 2021-08-17 11:12 Section: Daily DispatchesRBI buys record gold this year, and at 700 tonnes, reserves up 27% in 2 years
By Rajesh Bhayani
Business Standard, New Delhi
Thursday, August 12, 2021
The Reserve Bank of India has increased its gold purchases, as part of its foreign exchange reserves.
In the first half of 2021, the addition of gold to India's forex reserves has been the highest -- on a half-yearly basis -- at 29 tonnes.
Now the RBI's gold holding -- as a proportion of its forex reserves — has for the first time crossed 700 tonnes. ...
Ed Steer: A commitment of traders report for the ages
Submitted by admin on Mon, 2021-08-16 18:11 Section: Daily Dispatches6:06p ET Monday, August 16, 2021
Dear Friend of GATA and Gold:
GATA board member Ed Steer's Saturday commentary at Ed Steer's Gold & Silver Digest, headlined "A Commitment of Traders Report for the Ages," is posted in the clear at GoldSeek here:
https://goldseek.com/article/commitment-traders-report-ages
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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