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Daily Dispatches
Central banks scale back dollar lending operation as demand drops
Submitted by cpowell on Thu, 2020-08-20 10:36 Section: Daily DispatchesBy Martin Arnold and Eva Szalay
Financial Times, London
Thursday, August 20, 2020
Four leading central banks have further scaled back the U.S. dollar liquidity they offer via emergency swap lines with the Federal Reserve, in the latest illustration of the global financial system's recovery from the market panic caused by coronavirus earlier this year.
Scotiabank pays $127.4 million to settle gold and silver spoofing claims
Submitted by cpowell on Wed, 2020-08-19 21:05 Section: Daily DispatchesBy Matt Robinson
Bloomberg News
Wednesday, August 19, 2020
Bank of Nova Scotia agreed to pay $127.4 million to settle U.S. allegations that the company engaged in spoofing of gold and silver futures contracts, and made false statements to the government.
Craig Hemke at Sprott Money: 'Speculative bubble' in gold and silver is fiction
Submitted by cpowell on Wed, 2020-08-19 11:24 Section: Daily Dispatches11:24a ET Wednesday, August 19, 2020
Dear Friend of GATA and Gold:
While some mainstream financial news organizations are reporting that gold and silver prices are in a "speculative bubble," the TF Metals Report's Craig Hemke, writing today at Sprott Money, shows that gold and silver futures contract volumes have been contracting steadily amid the recent price increases.
Venezuelan central bank's gold reserves fall to lowest level in 50 years
Submitted by cpowell on Mon, 2020-08-17 21:12 Section: Daily DispatchesFrom Reuters
Monday, August 17, 2020
CARACAS -- Venezuela's gold reserves fell by seven tonnes in the first half of the year to reach just 98 tonnes, their lowest level in 50 years, according to data published on Monday by the South American country's central bank.
Fed soon will endorse the inflation that has been running wild for years
Submitted by cpowell on Mon, 2020-08-17 11:34 Section: Daily DispatchesFed Close to Making Its New Inflation Strategy Official
By Christopher Condon and Vivien Lou Chen
Bloomberg News
Monday, August 17, 2020
The Federal Reserve will soon reveal a subtle yet profound shift in how it conducts monetary policy for the world’s largest economy, officially embracing a more relaxed view on inflation.
Neil Newman: It's time to ditch the crashing U.S. dollar and buy groceries with gold. Here's how
Submitted by cpowell on Mon, 2020-08-17 00:03 Section: Daily DispatchesBy Neil Newman
South China Morning Post, Hong Kong
Monday, August 17, 2020
I was having a beer the other week with an esteemed former colleague and superb commodities commentator, Tom Holland, who was saying that he kept hearing from people thinking the U.S. dollar would "crash" and that he thought they might be right.
The U.S. dollar threat is becoming very real for China
Submitted by cpowell on Sun, 2020-08-16 23:57 Section: Daily DispatchesBy Stephen Bartholomeusz
Sydney Morning Herald
Monday, August 17, 2020
When the Trump administration imposed sanctions on 11 senior Hong Kong officials, including chief executive Carrie Lam, just over a week ago, the responses of the individuals targeted ranged from the dismissive to derision. Banks and mainland China’s financial authorities aren’t as complacent.
China's bank regulator warns that dollar dominance is seed of crisis
Submitted by cpowell on Sun, 2020-08-16 23:48 Section: Daily DispatchesFrom Bloomberg News
Sunday, August 16, 2020
China's top banking watchdog cautioned that U.S. dollar dominance combined with the massive stimulus unleashed by the Federal Reserve could push the world to the edge of another financial crisis.
Pressure mounts on Swiss refinery Valcambi over questionable gold origins
Submitted by cpowell on Sun, 2020-08-16 15:52 Section: Daily DispatchesFrom the Swiss Broadcasting Corp.
Bern, Switzerland
Sunday, August 16, 2020
Industry associations are calling on Switzerland's largest gold refinery to clarify the origins of its gold purchased from Dubai traders.
Nick Barisheff: Gold has been the best investment of the last 20 years
Submitted by cpowell on Sun, 2020-08-16 13:21 Section: Daily Dispatches1:20p ET Sunday, August 16, 2020
Dear Friend of GATA and Gold:
Don't expect the Financial Times or Wall Street Journal to reprint the new essay by Nick Barisheff of Bullion Management Group in suburban Toronto, but with several charts he shows that gold has delivered superior investment performance against all currencies for the last 20 years.
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