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Daily Dispatches
Physical silver supply squeeze to get worse, First Majestic's Keith Neumeyer warns
Submitted by cpowell on Mon, 2020-03-23 23:04 Section: Daily Dispatches11:06p ET Monday, March 23, 2020
Dear Friend of GATA and Gold:
First Majestic Silver CEO Keith Neumeyer today tells Daniela Cambone of Kitco News that "the paper markets are completely a fallacy" and First Majestic is withholding sales of its metal in anticipation of higher prices. "It's a very tight market," Neumeyer adds, "and now you can't buy any metal at all."
Fed move awakens gold just as supply of the metal hits a snag
Submitted by cpowell on Mon, 2020-03-23 22:32 Section: Daily DispatchesBy Myra P. Saefong
MarketWatch.com, New York
Monday, March 23, 2020
Gold's one-day dollar surge is one for the record books. But as bullion deliveries hit a snag and mining operations slow, the precious metal may soon see prices rally to new heights.
Michael Hudson: A debt jubilee is the only way to avoid a depression
Submitted by cpowell on Mon, 2020-03-23 11:41 Section: Daily DispatchesBy Michael Hudson
Washington Post
Saturday, March 21, 2020
Even before the novel coronavirus appeared, many American families were falling behind on student loans, auto loans, credit cards, and other payments. America's debt overhead was pricing its labor and industry out of world markets. A debt crisis was inevitable eventually, but covid-19 has made it immediate.
It's not just toilet paper -- dealers can't find enough gold either
Submitted by cpowell on Mon, 2020-03-23 11:06 Section: Daily DispatchesGold Bars in Short Supply Due to Coronavirus Disruption
By Henry Sanderson
Financial Times, London
Monday, March 23, 2020
https://www.ft.com/content/81d915e2-6cef-11ea-89df-41bea055720b
India's jewelry industry closes amid virus outbreak
Submitted by cpowell on Mon, 2020-03-23 10:46 Section: Daily DispatchesBy Swansy Afonso
Bloomberg News
Monday, March 23, 2020
India's jewelry industry has come to a standstill as the government locked down much of the country to try to stem the spread of the coronavirus.
Three Swiss gold refineries suspend production due to virus threat
Submitted by cpowell on Mon, 2020-03-23 10:40 Section: Daily DispatchesBut don't worry, central bankers. Paper mills around the world remain open.
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By Peter Hobson
Reuters
Monday, March 23, 2020
https://www.reuters.com/article/precious-refining-argor/update-1-three-s...
Fed unveils unlimited QE and aid for businesses and states
Submitted by cpowell on Mon, 2020-03-23 10:20 Section: Daily DispatchesBy Christopher Condon, Craig Torres, Matthew Boesler, and Michael McKee
Bloomberg News
Monday, March 23, 2020
The Federal Reserve today announced a massive second wave of initiatives to support a shuttered U.S. economy, including buying an unlimited amount of bonds to keep borrowing costs low and setting up programs to ensure credit flows to corporations and state and local governments.
Bullion Star's Ronan Manly: Reuters misses disparity between physical and paper metals markets
Submitted by cpowell on Sun, 2020-03-22 20:36 Section: Daily Dispatches8:40p ET Sunday, March 22, 2020
Dear Friend of GATA and Gold:
Pam and Russ Martens: Big Wall Street banks are bleeding out their equity capital
Submitted by cpowell on Sun, 2020-03-22 11:57 Section: Daily DispatchesFive Mega Wall Street Bank Stocks Have Lost Average of 45% in Five Weeks
By Pam and Russ Martens
Wall Street on Parade
Sunday, March 22, 2020
Dire dollar shortage shows world failed to fix key crisis flaw
Submitted by cpowell on Sun, 2020-03-22 11:48 Section: Daily DispatchesBy Christopher Anstey and Enda Curran
Bloomberg News
Sunday, March 22, 2020
The global rush for dollars that's been roiling the $6.6 trillion-a-day foreign-exchange market has showcased a missing piece of financial-safety architecture that world policy makers never addressed in the aftermath of the 2008 crisis.
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