You are here
Daily Dispatches
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.
... Dispatch continues below ...
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.
... Dispatch continues below ...
The world is awash in dollar liquidity no one wants
Submitted by admin on Thu, 2021-09-02 11:45 Section: Daily DispatchesBy Tracy Alloway
Bloomberg News
Thursday, September 2, 2021
There's a seismic shift underway in money markets, the equivalent of going from famine to feast.
For years the premium paid for dollars over the euro, Japanese yen, and so on in the cross-currency markets has been negative, indicating rampant demand for greenbacks. Now these so-called cross-currency basis swaps are on the verge of turning positive in a major shift for money markets.
... Dispatch continues below ...
ADVERTISEMENT
Iamgold suspends convoys to Burkina Faso gold mine after attack
Submitted by admin on Wed, 2021-09-01 13:06 Section: Daily DispatchesBy Aaron Ross and Cooper Inveen
Reuters
Wednesday, September 1, 2021
OUAGADOUGOU, Burkina Faso -- Gunmen attacked a convoy of Iamgold Corp. vehicles travelling to the Essakane gold mine in Burkina Faso on Tuesday, wounding one police officer before being repelled by the convoy's security detail, the Canadian mining company said.
Following the attack, Iamgold has suspended convoys to and from Essakane, which is the company's biggest operating mine and is near the border with Niger.
... Dispatch continues below ...
Debt ceiling fight pushes money market funds to brink
Submitted by admin on Wed, 2021-09-01 12:00 Section: Daily DispatchesAnd people sneer that gold doesn't pay interest, though it does when, like anything else, it is leased. To try to avoid negative interest rates, maybe some brokerage house should start a money-market fund that holds gold instead of government currencies -- if, of course, the government would allow any brokerage house to demonstrate gold's enduring utility as money.
* * *
By Kate Duguid
Financial Times, London
Wednesday, September 1, 2021
Around $11 billion in gold was smuggled into India last year, stashed inside wigs, jeans, shoes
Submitted by admin on Tue, 2021-08-31 23:36 Section: Daily DispatchesBy Lukas I. Alpert
MarketWatch, New York
Tuesday, August 31, 2021
The man arriving at Kannur International Airport in Kerala in southern India caught the attention of customs officials right away.
A quick search of his clothes revealed why -- in between the two stitched-together pairs of jeans he was wearing was a thin layer of gold dust that had been made into a paste and applied like paint to the cloth. In all, the man was carrying some 302 grams of gold in his pants worth about $20,000, authorities said.
... Dispatch continues below ...
Craig Hemke at Sprott Money: After the Jackson Holedown
Submitted by admin on Tue, 2021-08-31 17:28 Section: Daily Dispatches5:26p ET Tuesday, August 31, 2021
Dear Friend of GATA and Gold:
Writing at Sprott Money, the TF Metals Report's Craig Hemke says this Friday's U.S. jobs report likely will be construed as a signal of whether the Federal Reserve will start slowing its bond purchases, and if observers think those purchases will diminish, the dollar will strengthen and gold will weaken.
... Dispatch continues below ...
Good Mining Exploration Resumes Search
for Gold at Golden Target Project in Ontario
Nearly 30% of Brazil's gold exports are illegal, report says
Submitted by admin on Mon, 2021-08-30 20:57 Section: Daily DispatchesBy Lisandra Paraguassu
Reuters
Monday,August 30, 2021
BRASILIA -- Roughly 28% of Brazilian gold exports in 2019 and 2020 likely came from illegal mines, a report by public prosecutors and the Federal University of Minas Gerais found, pointing to widespread forging of documents and lack of effective law enforcement.
The report found indications of illegality related to 48.9 tonnes of gold in the two-year period.
... Dispatch continues below ...
ADVERTISEMENT
Pages
