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Daily Dispatches
A polite discussion of the danger of unallocated pool accounts in silver
Submitted by admin on Wed, 2021-04-07 21:30 Section: Daily Dispatches9:15p ET Wednesday, April 7, 2021
Dear Friend of GATA and Gold:
In an interview with Daniela Cambone of Stansberry Research today, fund manager Vince Lanci of EchoBay Partners in Stamford, Connecticut, politely discusses the vulnerability of the fractional-reserve silver banking system.
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German financial magazine Smart Investor cites BIS intervention in gold
Submitted by admin on Wed, 2021-04-07 11:45 Section: Daily Dispatches11:40a ET Wednesday, April 7, 2021
Dear Friend of GATA and Gold:
Word of surreptitious intervention in the gold market by governments and central banks cointinues to get around. The April edition of the German financial magazine Smart Investor publishes a report by Rainer Kromarek, "The Unexpected Decline of the Gold Price," that cites the interventions by the Bank for International Settlements. A PDF copy of the report can be viewed here:
Hungary triples gold reserves as central banks turn buyers again
Submitted by admin on Wed, 2021-04-07 11:24 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Wednesday, April 7, 2021
Hungary tripled its gold reserves in one of the biggest purchases by a central bank in decades -- the latest sign of governments turning to the precious metal as a safeguard of value.
The monetary authority raised its bullion holdings to 94.5 tons last month, it said in an emailed statement:
Craig Hemke at Sprott Money: When buying gold and silver, avoid unallocated 'pool' accounts
Submitted by admin on Tue, 2021-04-06 20:31 Section: Daily Dispatches8:28p ET Tuesday, April 6, 2021
Dear Friend of GATA and Gold:
Writing tonight at Sprott Money, the TF Metals Report's Craig Hemke notes that buying into the "pool" accounts of coin and bullion dealers defeats the primary purpose of owning monetary metals -- security, the certainty that you will have the metal when you need it and won't get stiffed by another fractional-reserve banking system and its counterparty risk.
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Jim Rickards: The next phase of the war on cash
Submitted by admin on Tue, 2021-04-06 12:24 Section: Daily DispatchesBy James Rickards
The Daily Reckoning, Baltimore
Friday, April 2, 2021
With so much news about an economic reopening, a border crisis, massive government spending, and exploding deficits, it's easy to overlook the ongoing war on cash.
That's a mistake because it has serious implications not only for your money but for your privacy and personal freedom, as you'll see today.
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Philippines plans to issue U.S. dollar bonds 'before rates skyrocket'
Submitted by admin on Mon, 2021-04-05 23:55 Section: Daily DispatchesGet the stuff out there before it all turns to dust.
* * *
By Siegfrid Alegado and Ditas B Lopez
Bloomberg News
Tuesday, April 6, 22021
Philippines Finance Secretary Carlos Dominguez said the government plans to sell dollar bonds before interest rates rise, and will look for new revenue sources and ways to wind down debt next year.
"We will tap the U.S. bond market before rates skyrocket," Dominguez said in an interview with Bloomberg Television's Kathleen Hays on today. He didn’t provide more details on the debt plan.
Tom O'Connor: Sanctions are destroying U.S. dollar's status as top currency
Submitted by admin on Mon, 2021-04-05 20:28 Section: Daily DispatchesBy Tom O'Connor
Newsweek, New York
Monday, April 5, 2021
The United States' reliance on economic sanctions to coerce other countries is gradually losing its effectiveness and slowly degrading one of Washington's most influential tools in international affairs, the power of the U.S. dollar, experts told Newsweek.
The greenback stands in a class of its own as the most popular and robust currency across the international banking system, outsizing its next largest competitor, the euro, a by a factor of nearly three to one.
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Economist, euro 'inventor' Mundell advised China to buy gold
Submitted by admin on Mon, 2021-04-05 19:43 Section: Daily Dispatches7:39p ET Monday, April 5, 2021
Dear Friend of GATA and Gold:
Thirteen years ago your secretary/treasurer unexpectedly shared the dias with the Nobel Prize-winning economist and euro "inventor" Robert Mundell, whose death was announced today --
-- and while it may be hard to admire anyone who facilitated something as undemocratic as the European Union, Mundell made some surprisingly pro-gold remarks at the time.
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Dave Kranzler: A bottom in gold and silver?
Submitted by admin on Mon, 2021-04-05 17:54 Section: Daily DispatchesBy Dave Kranzler
Investment Research Dynamics, Denver
Monday, April 5, 2021
The downtrend in the precious metals sector that began in August has been punctuated over the last month with one of the most aggressive and blatant price manipulation efforts that I have witnessed in 20 years.
Robert Mundell, Nobel laureate who inspired the euro, dies at 88
Submitted by admin on Mon, 2021-04-05 12:09 Section: Daily DispatchesBy Nancy Moran and Sho Chandra
Bloomberg News
Monday, April 5, 2021
Robert Mundell, the Nobel Prize-winner and supply-side economist who was considered the intellectual father of the euro, has died. He was 88.
His death was confirmed by Sophia Johnson, assistant director of the program for economic research at Columbia University, where Mundell was professor emeritus.
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