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Daily Dispatches
China opens its borders to multi-billion-dollar gold imports, sources tell Reuters
Submitted by admin on Fri, 2021-04-16 09:37 Section: Daily DispatchesBy Xiao Han, Peter Hobson and Swati Verma
Reuters
via Yahoo News
Friday, April 16, 2021
China has given domestic and international banks permission to import large amounts of gold into the country, five sources familiar with the matter said, potentially helping to support gold prices after a months-long decline.
China is the world's biggest gold consumer, gobbling up hundreds of tonnes worth tens of billions of dollars each year, but its imports plunged as the coronavirus spread and local demand dried up.
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Palisades Gold Radio interviews Money Metals Exchange's Stefan Gleason
Submitted by admin on Thu, 2021-04-15 22:47 Section: Daily DispatchesBy Tom Bodrovicx
Palisades Gold Radio
Thursday, April 16, 2021
We welcome Stefan Gleason, president of Money Metals Exchange, to the show.
The idea of sound money is something that holds its value over time, in contrast to fiat currencies. The market has chosen gold and silver over thousands of years as the money that sustains and preserves purchasing power.
Alasdair Macleod: Why the future's money is gold and silver, not bitcoin
Submitted by admin on Thu, 2021-04-15 22:35 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Thursday, April 15, 2021
Here is a reminder why gold and silver always will be sound money and why bitcoin cannot fill that role
With bitcoin's price still rising and expected to rise even more, there has been a growing belief in cryptocurrency circles that it will replace unbacked government currencies when they eventually fail.
The assumptions behind this conclusion are naïve, exposing hardly any knowledge in what qualities are needed for sound money.
To boost revenue, Philippines terminates nine-year ban on new mines
Submitted by admin on Thu, 2021-04-15 21:01 Section: Daily DispatchesBy Enrico Cruz
Reuters
Thursday, April 15, 2021
Philippine President Rodrigo Duterte has lifted a moratorium on new mineral agreements imposed in 2012, reopening the door to investments in a move that will boost state coffers but has dismayed environmental activists.
The Philippines, the top supplier of nickel ore to China and a major producer of copper and gold, imposed the moratorium while the government worked on legislation to boost the state's share of mining revenues. Since 2018 the excise tax on minerals has doubled to 4%.
Hugo Salinas Price: Mexico could remonetize silver without its central bank's approval
Submitted by admin on Thu, 2021-04-15 20:46 Section: Daily Dispatches8:45p ET Thursday, April 15, 2021
Dear Friend of GATA and Gold:
In a video conversation today, the Mexican Civic Association for Silver's Hugo Salinas Price describes a plan by which the Mexican government could effectively remonetize silver and bypass the longstanding opposition of the country's central bank.
Silver suppression just might be beaten this year, GATA's Steer tells Investing News Network
Submitted by admin on Wed, 2021-04-14 15:44 Section: Daily Dispatches3:40p ET Wednesday, April 13, 2021
Dear Friend of GATA and Gold:
GATA board member Ed Steer, editor of Ed Steer's Gold & Silver Digest letter (https://edsteergoldsilver.com/), was interviewed this week by Charlotte McLeod of Investing News Network, discussing the prospects for overthrowing the manipulative short position in silver on the New York Commodities Exchange. Steer is cautious but hopeful that the market rigging can be defeated this year.
JPMorgan sued by London trader fired over spoofing claim
Submitted by admin on Wed, 2021-04-14 12:12 Section: Daily DispatchesBy Jonathan Browning
Bloomberg News
via The Edge Markets, Petaling Jaya, Malaysia
Wednesday, April 14, 2021
A former JPMorgan Chase & Co trader who was fired over a spoofing allegation said he was dismissed only because the bank wanted to "appease" U.S. regulators following a scandal that cost the bank close to $1 billion in penalties.
Bradley Jones, a former cash equities trader, is suing the bank for unfair dismissal in London, saying that compliance officials ruled there was nothing suspicious about his trading only to revisit it three years later.
Ronan Manly: LBMA acknowledges severe shortage of silver
Submitted by admin on Wed, 2021-04-14 11:14 Section: Daily Dispatches11:10a ET Wednesday, April 14, 2021
Dear Friend of GATA and Gold:
Bullion Star's Ronan Manly writes today that after declaring that there was plenty of monetary metal around, the London Bullion Market Association has issued a report acknowledging scarcity of silver and the effectiveness of the recent "silver squeeze" campaign by the Reddit gang on social media.
Manly's analysis is headlined "LBMA Acknowledges 'Buying Frenzy' in Silver Market and Silver Shortage Fears" and it's posted at Bullion Star here:
Sprott Physical Gold and Silver Trust prepares to acquire another $1 billion in metal
Submitted by admin on Wed, 2021-04-14 00:45 Section: Daily DispatchesSprott Physical Gold and Silver Trust Updates Its 'At-The-Market' Equity Program
Company Announcement
via Globe Newswire, Omaha, Nebraska
Tuesday, April 13, 2021
Inflation is here already, Hemke says at Sprott Money and Russell says at GoldCore
Submitted by admin on Tue, 2021-04-13 20:37 Section: Daily Dispatches8:34p ET Tuesday, April 13, 2021
Dear Friend of GATA and Gold:
Writing at Sprott Money tonight, Craig Hemke of the TF Metals Report notes that as of today the official U.S. inflation rate is suddenly a percentage point above the interest rate of the benchmark 10-year U.S. Treasury bond, and thus U.S. real interest rates are officially and substantially negative. Yet, Hemke adds, gold is priced $300 lower than it was the last time this happened, last August.
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