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Daily Dispatches
Ted Butler: BankAmerica suddenly becomes a big player in silver
Submitted by admin on Tue, 2021-04-13 13:56 Section: Daily DispatchesBy Ted Butler
Tuesday, April 13, 2021
Suddenly out of nowhere BankAmerica has emerged as a major participant in precious metals OTC derivatives.
This new fact is contained in the latest release of the Treasury Department's Office of the Comptroller of the Currency (OCC) Quarterly Derivatives Report for U.S. banks. The report covers derivatives contracts in the over the counter (OTC) market as opposed to exchange-traded options and COMEX gold and silver futures.
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A guess: Metals were smashed yesterday to offset today's bad inflation report
Submitted by admin on Tue, 2021-04-13 12:05 Section: Daily Dispatches12:09p ET Tuesday, April 13, 2021
Dear Friend of GATA and Gold:
Many people were wondering why gold and silver were smashed yesterday when there seemed to be no particular news unfavorable to the monetary metals.
So here is a guess.
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More razzle-dazzle hypothecation to divert investment from actual gold
Submitted by admin on Tue, 2021-04-13 11:14 Section: Daily DispatchesNew York Real Estate Mogul Secures $6 Billion in Gold to Back New Cryptocurrency
By Devon Pendleton
Bloomberg News
Tuesday, April 13, 2021
New York City real estate mogul Kent Swig has secured a minimum of $6 billion in gold reserves to back his new cryptocurrency.
The value of the digital token, DIGau, will be pegged to the market price of the precious metal, guaranteed by liens Swig and partner Stephen Braverman's company, Dignity Gold, secured against mining claims in Nevada and Arizona.
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Arcadia Economics interviews Gold Newsletter's Brien Lundin on silver
Submitted by admin on Mon, 2021-04-12 21:30 Section: Daily Dispatches9:28p ET Monday, April 12, 2021
Dear Friend of GATA and Gold:
Chris Marcus of Arcadia Economics today interviewed Gold Newsletter publisher and New Orleans Investment Conference organizer Brien Lundin about silver's prospects, about which they are hopeful. Perhaps even more hopeful for hundreds in the gold and silver sector, Lundin remarks that the New Orleans conference anticipates being held live and in person this year, from Tuesday, October 19, through Friday, October 22.
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Simple math is about to cause an inflation problem
Submitted by admin on Mon, 2021-04-12 20:12 Section: Daily DispatchesBy Reade Pickert
Bloomberg News
Monday, April 12, 2021
No economic question is being debated more right now than whether the United States will see a sharp rise in inflation. But the answer for the next few months is simple: Yes.
Due to the way the government's inflation metrics are calculated, what will appear to be significant price increases are all but guaranteed. The phenomenon is known as the base effect, a term worth keeping in mind when new figures make the argument even wilder.
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Singapore dealer prepares vault for 15,000 tons of silver
Submitted by admin on Mon, 2021-04-12 12:45 Section: Daily DispatchesBy Ranjeetha Pakiam and Yvonne Yue Li
Bloomberg News, New York
via Yahoo News, Sunnyvale, California
Monday, April 12, 2021
Inside a six-story high warehouse near Singapore's Changi airport, a vast hangar-like space is waiting to be filled with a precious metal that usually plays second fiddle to its more lustrous sibling.
Government intervention against gold fails again to make Hathaway's list
Submitted by admin on Mon, 2021-04-12 12:30 Section: Daily Dispatches12:31p ET Monday, April 12, 2021
Dear Friend of GATA and Gold:
In his latest report, Sprott Asset Management's John Hathaway writes that "four familiar refrains explain gold's recent correction." Surreptitious intervention by governments and central banks with the assistance of the Bank for International Settlements again fails to make Hathaway's list, though intervention in the gold market by the BIS on behalf of its member central banks appears to have reached a record level --
India's gold imports jump to near two-year high as weddings revive demand
Submitted by admin on Mon, 2021-04-12 11:24 Section: Daily DispatchesBy Shruti Srivastava and Swansy Afonso
Bloomberg News, New York
via Business Standard, New Delhi
Monday, April 12, 2021
Gold imports by India surged in March to the highest monthly total in nearly two years as a slump in prices stoked demand for jewelry during the ongoing wedding season.
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USAGold: Coins and bullion since 1973
Ecuador elects businessman; leading candidate in Peru would nationalize everything
Submitted by admin on Mon, 2021-04-12 11:07 Section: Daily DispatchesMillionaire Businessman Guillermo Lasso Elected Ecuador's President
By Gideon Long
Financial Times, London
Monday, April 12, 2021
QUITO, Ecuador -- Millionaire businessman Guillermo Lasso will be Ecuador’s next president after pulling off a remarkable victory in Sunday’s election, overcoming a deficit of 13 percentage points between the first and second rounds to beat leftwing candidate Andres Arauz.
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London metal trader Andrew Maguire interviews GoldMoney's Alasdair Macleod
Submitted by admin on Fri, 2021-04-09 22:51 Section: Daily Dispatches1:06p ET Sunday, April 11 2021
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, in his weekly program with Shane Moran for Kinesis Money, praises GATA's consultant on the Bank for International Settlements, Robert Lambourne, and explains why he sees the current futures trader positioning in gold as bullish.
Then Maguire interviews GoldMoney research director Alasdair Macleod.
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