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Daily Dispatches
Indian crypto exchanges struggle as banks cut ties after frown by central bank
Submitted by admin on Thu, 2021-07-01 14:30 Section: Daily DispatchesBy Nupur Anand
Reuters
Thursday, July 1, 2021
MUMBAI -- Indian cryptocurrency exchanges are scrambling to secure viable, permanent payment solutions to ensure seamless transactions after banks and payment gateways started cutting ties with them, six industry insiders said.
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USA Gold: Coins and Bullion Since 1973
Pam and Russ Martens: Hedge funds are getting '100 times' leverage on crypto
Submitted by admin on Thu, 2021-07-01 14:08 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, July 1, 2021
Yesterday the House Financial Services’ Subcommittee on Oversight and Investigations held a critically important hearing on the crypto craze that has engulfed U.S. financial markets. The hearing was titled: "America on 'FIRE': Will the Crypto Frenzy Lead to Financial Independence and Early Retirement or Financial Ruin?" ...
Jeffrey E. Garten: When the U.S. gave up gold
Submitted by admin on Thu, 2021-07-01 13:46 Section: Daily DispatchesBy Jeffrey E. Garten
The Wall Street Journal
Thursday, July 1, 2021
Fifty years ago next month, at a secret weekend meeting at Camp David, President Richard Nixon and his top economic advisors decided to take the U.S. off the gold standard.
The dramatic move, announced by the president upon his return to the White House on August 15, 1971, suspended the most fundamental rules of the international monetary system, affecting the prices of all products, commodities, and services in world commerce.
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Dave Kranzler: Are you ready for the next big move in gold and silver?
Submitted by admin on Wed, 2021-06-30 23:38 Section: Daily DispatchesBy Dave Kranzler
Investment Research Dynamics, Denver
Wednesday, July 30, 2021
The precious metals sector has been in a downtrend since August 2020.
The silver chart shows a high closing price last August. But the silver price has traded in a sideways trading channel since the end of last August. And actually, silver has been in a gentle uptrend since late October 2020.
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U.S. dollar's share of world FX reserves rises slightly to 59.5%
Submitted by admin on Wed, 2021-06-30 23:24 Section: Daily DispatchesFrom Reuters
Wednesday, June 30, 2021
NEW YORK -- The U.S. dollar's share of currency reserves reported to the International Monetary Fund edged up to 59.5% in the first quarter of the year, from 58.9% in the previous quarter, IMF data showed today.
USAGold's July 'News & Views': Gold in the age of inflation
Submitted by admin on Wed, 2021-06-30 12:06 Section: Daily Dispatches12:05p ET Wednesday, June 30, 2021
Dear Friend of GATA and Gold:
USAGold's July "News & Views" newsletter, headlined "Gold in the Age of Inflation," notes that the age began in 1971 with the severance of gold from the U.S. dollar and that gold actually has outperformed stocks since then.
July's "News & Views" is posted in the clear here:
Craig Hemke at Sprott Money: Comex silver offtake exceeds last year's record rate
Submitted by admin on Tue, 2021-06-29 16:06 Section: Daily Dispatches4p ET Tueday, June 28, 2021
Dear Friend of GATA and Gold:
Silver offtake on the New York Commodities Exchange is exceeding the rate that produced a record offtake last year, the TF Metals Report's Craig Hemke writes today at Sprott Money.
This is important, Hemke writes, "because even though price is still 'discovered' through the trading of the highly leveraged derivative contracts, the scramble for physical metal decreases the availability and opportunity for the banks to hedge-control-short the price at their discretion."
Matthew Piepenburg: Gold and Basel 3's trillion-dollar question
Submitted by admin on Tue, 2021-06-29 13:07 Section: Daily Dispatches1:07p ET Tueday, June 28, 2021
Dear Friend of GATA and Gold:
In commentary posted today at King World News, Matterhorn Asset Management's Matthew Piepenburg examines the possible impact of the "Basel 3" banking regulations on the price of gold. Some of it is favorable and some isn't.
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Asante Gold Acquires Key Exploration Land
on Ashanti and Asankrangwa Gold Belts in Ghana
Company Announcement
via Globe Newswire, Omaha, Nebraska
Friday, May 28, 2021
Mexico warns against cryptocurrency after billionaire endorses it for his bank
Submitted by admin on Tue, 2021-06-29 12:50 Section: Daily DispatchesBy Justin Villamil
Bloomberg News
Monday, June 28, 2021
Mexico's central bank said financial institutions aren't allowed to trade or offer services based on cryptocurrencies such as Bitcoin, a day after billionaire Ricardo Salinas Pliego said his bank is on the way to accepting the virtual token.
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U.S. home prices rise at fastest pace in more than 30 years
Submitted by admin on Tue, 2021-06-29 12:34 Section: Daily DispatchesBy Mamta Badkar
Financial Times, London
Tuesday, June 28, 2021
U.S. home price growth accelerated in April at the fastest pace in more than three decades as strong housing demand continued to come up against a shortage of residential properties.
The S&P Case-Shiller national home price index, which covers all nine U.S. census divisions, rose 14.6 per cent year on year in April, data today showed. That followed a 13.3 per cent annual jump in March, and was "the highest reading in more than 30 years," according to the report.
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