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Daily Dispatches
Something may be up at IMF: Chinese central banker to become deputy director
Submitted by admin on Mon, 2021-06-28 18:51 Section: Daily DispatchesIMF Managing Director Kristalina Georgieva Proposes Appointment of Mr. Bo Li as Deputy Managing Director
Frpm the International Monetary Fund
Washington, D.C.
Sunday, June 28, 2021
WASHINGTON -- Kristalina Georgieva, managing director of the International Monetary Fund, announced today to the Executive Board of the IMF her proposal to appoint Mr. Bo Li as deputy managing Director, effective August 23, 2021. Mr. Li is currently deputy governor of the People's Bank of China. He will succeed Mr. Tao Zhang, who, as previously announced, steps down on August 22.
Indonesia and China to reduce U.S. dollar in bilateral trade
Submitted by admin on Mon, 2021-06-28 11:23 Section: Daily DispatchesBy Vincent Fabian Thomas
The Jakarta Post
Monday, June 28, 2021
Indonesia and China are closer to reducing their reliance on the U.S. dollar as they plan to start using their own currencies for bilateral trade and investment within weeks.
The switch to local currency settlement (LCS) is expected to take place in the third quarter of this year. Bank Indonesia's head of financial market development, Donny Hutabarat, said the move was part of Indonesia's effort to diversify currencies used in trade and investment with bilateral partners.
Ronan Manly: Thai central bank buys 90 tonnes of gold in April and May
Submitted by admin on Sun, 2021-06-27 22:10 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Sunday, June 27, 2021
In early April this year the Hungarian central bank stunned gold markets with the surprise announcement that it had purchased a massive 63 tonnes of gold during March, and in doing so tripled its gold reserves from 31.5 tonnes to 94.5 tonnes.
At the time, this 63.5 tonnes purchase (the details of which we covered) was the largest year-to-date gold purchase by a central bank during 2021.
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Bitcoin exchange Binance banned from UK as crypto frauds double
Submitted by admin on Sun, 2021-06-27 11:19 Section: Daily DispatchesGovernment keeps protecting people against ... government's own competitors.
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By Will Kirkman and Matthew Field
The Telegraph, London
Sunday, June 27, 2021
The City watchdog has banned one of the world's largest Bitcoin exchanges from operating in Britain amid mounting fears over the rise of cryptocurrency crime.
The Financial Conduct Authority ordered Binance Markets Ltd. to remove all advertising and financial promotions by Wednesday and told the firm it must not carry out any regulated activities in Britain without prior consent.
At King World News, GATA secretary discusses Basel 3's possible impact on gold
Submitted by admin on Sat, 2021-06-26 10:42 Section: Daily Dispatches10:42a ET Saturday, June 26, 2021
Dear Friend of GATA and Gold:
Implementation of the "Basel 3" regulations on "unallocated" gold was the subject yesterday as King World News interviewed your secretary/treasurer, who expressed optimism that the regulations eventually might vaporize a lot of the imaginary metal that long has been suppressing prices.
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GoldMoney's Roy Sebag: Gold's greatest virtue
Submitted by admin on Fri, 2021-06-25 23:29 Section: Daily Dispatches11:27p ET Friday, June 25, 2021
Dear Friend of GATA and Gold:
Turning philosophical in his company's annual shareholder letter, GoldMoney CEO Roy Sebag argues that gold's greatest virtue is "is in helping the common man ascertain the truth when he is asked to buy into new economic and political ideologies by those within or outside of the power structure."
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USA Gold: Coins and Bullion Since 1973
If Basel 3 is enforced, it will support gold, 'Rigged' author Englert says
Submitted by admin on Fri, 2021-06-25 23:03 Section: Daily Dispatches11p Friday, June 26, 2021
Dear Friend of GATA and Gold:
Stuart Englert, author of "Rigged," a history of gold market manipulation by central banks, was interviewed this week about the new "Basel 3" banking regulations by Investing News Network's Charlotte McLeod, concluding that if they are implemented and enforced, the regulations are likely to support gold prices. The interview is 20 minutes long and can be viewed at YouTube here:
Alasdair Macleod: Inflation and asset and consumer prices
Submitted by admin on Fri, 2021-06-25 22:52 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Wednesday, June 24, 2021
"The Fed finds itself between a rock and a hard place: either it keeps inflating or the whole confidence-based valuation of financial assets collapses. Either it raises interest rates or the dollar collapses."
Bolivia may require all gold production to be offered to its central bank
Submitted by admin on Fri, 2021-06-25 12:14 Section: Daily DispatchesBlack Market Bullion Is in Crosshairs of Bolivian Lawmakers
By Sergio Mendoza
Bloomberg News
Wednesday, June 23, 2021
Bolivian lawmakers are debating a bill that would require all gold produced in the country to be offered to the central bank as the nation builds its reserves and cracks down on the illegal bullion trade.
Judge blocks FBI from keeping cash, gold, and silver seized in Beverly Hills raid
Submitted by admin on Fri, 2021-06-25 00:13 Section: Daily DispatchesBy Michael Finnegan
Los Angeles Times
Wednesday, June 23, 2021
A federal judge has blocked the FBI from confiscating some of the valuables it seized from safe deposit boxes at a Beverly Hills business, saying the government appeared to be violating the owners' rights.
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