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Daily Dispatches
Central banks can be beaten with gold and silver, Turk tells KWN
Submitted by admin on Mon, 2021-06-14 13:43 Section: Daily Dispatches1:40p ET Monday, June 14, 2021
Dear Friend of GATA and Gold:
Central banks have been beaten when they go too far, GoldMoney founder and GATA consultant James Turk tells King World News today, and with gold and silver this is one of those times when investors can "fight City Hall." Turk's comments are posted at KWN here:
https://kingworldnews.com/turk-at-last-gold-silver-prices-are-going-to-break-free-from-manipulation/
Tanzania to add gold to reserves, resume $3 billion iron project
Submitted by admin on Sun, 2021-06-13 15:06 Section: Daily DispatchesBy Fumbuka Ng'Wanakilala
Bloomberg News
Sunday, June 13, 2021
Tanzania launched a new gold refinery as its central bank plans to start buying the metal to diversify its reserves.
The Mwanza Precious Metal Refinery Ltd. is able to process 480 kilogrammes of gold per day, and plans to double the capacity in a few months, Tanzanian President Samia Suluhu Hassan said in a televised speech today.
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Robert Lambourne: BIS gold swaps rose in May despite approach of Basel 3 rules
Submitted by admin on Sat, 2021-06-12 11:39 Section: Daily DispatchesBy Robert Lambourne
Saturday, June 12, 2021
The recently released May statement of account of the Bank for International Settlements reports an increase of 45 tonnes in the bank's gold swaps to 517 tonnes. This follows declines in March and April 2021 from the record high estimated at 552 tonnes as of February 25, 2021.
The BIS seemingly remains an active trader of significant amounts of gold swaps on a regular basis.
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Congressman presses Treasury secretary to disclose U.S. gold activities
Submitted by admin on Thu, 2021-06-10 21:42 Section: Daily DispatchesFrom Money Metals News Service, Eagle, Idaho
Thursday, June 10, 2021
WASHINGTON -- As foreign governments reportedly accumulate gold and de-dollarize their sovereign wealth funds, a Republican congressman is asking tough questions of the U.S. Treasury about its secretive gold activities.
Silver isn't a real market but may become one soon, Turk tells KWN
Submitted by admin on Thu, 2021-06-10 13:10 Section: Daily Dispatches1p ET Thursday, June 10, 2021
Dear Friend of GATA and Gold:
GoldMoney founder and GATA consultant James Turk, in comments to King World News today, notes the gap between the "artificial" prices of monetary metals on the futures exchanges and the much higher prices for real metal in hand.
The shorts, Turk says, have drawn "a line in the sand" for silver at $28 and gold at $1,900, but they know that with inflation soaring, the end game is upon them. Above those price levels, Turk says, "the curtain will finally fall."
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Global banking regulator urges toughest capital rules for crypto
Submitted by admin on Thu, 2021-06-10 12:45 Section: Daily DispatchesBy Philip Stafford and Owen Walker
Financial Times, London
Thursday, June 10, 2021
Global regulators are calling for cryptocurrencies to carry the toughest bank capital rules of any asset, arguing that requirements for holding bitcoin and similar tokens should be far higher than those for conventional stocks and bonds.
Banks with exposure to volatile cryptocurrencies should face stricter capital requirements to reflect the higher risks, said the Basel Committee on Banking Supervision, the world’s most powerful banking standards-setter.
Paris and Berlin lead fight to dilute EU's stricter bank capital rules
Submitted by admin on Tue, 2021-06-08 22:45 Section: Daily DispatchesBy Sam Fleming and Martin Arnold
Financial Times, London
Tuesday, June 8, 2021
Several European Union states are fighting a last-ditch battle to thin down the bloc's most significant change in banking regulation for a decade, as Brussels prepares to set out long-awaited legislation.
The proposed rules will introduce a new capital minimum, or floor, making it harder for banks to use their own internal calculations to decide the size of their capital base.
Craig Hemke at Sprott Money: Hints that Basel 3 is curtailing Comex gold shorting
Submitted by admin on Tue, 2021-06-08 21:56 Section: Daily Dispatches9:54p ET Tuesday, June 8, 2021
Dear Friend of GATA and Gold:
The TF Metals Report's Craig Hemke reports tonight at Sprott Money that "Basel 3" Net Stable Funding Ratio regulations appear staged for implementation by banking regulators in the United States on July 1 and that the banks trading gold futures on the New York Commodities Exchange appear to be steadily closing their short positions.
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1933 Double Eagle gold coin sells for record $18.9 million
Submitted by admin on Tue, 2021-06-08 14:27 Section: Daily DispatchesFrom Reuters
Tuesday, June 8, 2021
A 1933 Double Eagle gold coin sold for a record-setting $18.9 million at auction in New York on Tuesday, and the world's rarest stamp went for $8.3 million.
The coin, the only 1933 Double Eagle ever allowed to be privately owned, was expected to sell for between $10 million and $15 million at the Sotheby's auction.
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Ed Steer: No silver eagle sales for the last two months
Submitted by admin on Mon, 2021-06-07 22:17 Section: Daily Dispatches10:15p ET Monday, June 7, 2021
Dear Friend of GATA and Gold:
GATA board member Ed Steer's weekend commentary in his Gold and Silver Digest letter is headlined "No Silver Eagle Sales For the Last Two Months" and it's posted in the clear at GoldSeek's companion site, SilverSeek, here;
https://silverseek.com/article/no-silver-eagle-sales-last-two-months
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