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Daily Dispatches
Ronan Manly: Margin-call rationale for gold's plunge doesn't fit facts
Submitted by cpowell on Mon, 2020-03-16 12:06 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Monday, March 16, 2020
... It's surprising to many that the gold price has turned back twice in the last two weeks from breaking out above the U.S. $1,700 level -- all in an environment of collapsing stock markets, general market panic, end-of-the-world scenarios, and now a U.S. national emergency.
Dave Kranzler: Extreme disconnect between paper and physical gold
Submitted by cpowell on Mon, 2020-03-16 11:51 Section: Daily DispatchesBy Dave Kranzler
Investment Research Dynamics, Denver
Monday, March 16, 2020
Gold's best chance? BIS employee has virus
Submitted by cpowell on Mon, 2020-03-16 11:35 Section: Daily DispatchesBank for International Settlements Employee in Basel Tests Positive
By Matthew Vincent
Financial Times, London
Monday, March 16, 2020
https://www.ft.com/content/f5bedb66-51a1-3eb2-a1ef-9ab452acc357
Prof. Roubini proposes tokenized toilet paper as currency -- 'more useful than gold'
Submitted by cpowell on Sun, 2020-03-15 20:14 Section: Daily DispatchesBy Mathew Di Salvo
Decrypt.com, Brooklyn
Sunday, March 15, 2020
American economist and long-time crypto skeptic Nouriel Roubini took another dig at virtual currencies on Twitter today -- by saying there should be a virtual currency for toilet paper.
U.S. stock futures tumble to limit down after Fed moves
Submitted by cpowell on Sun, 2020-03-15 19:54 Section: Daily DispatchesBy Sarah Ponczek and Vildana Hajric
Bloomberg News
Sunday, March 15, 2020
U.S. stock futures tumbled, wiping out half of the furious last-hour rally Friday and tripping exchange trading curbs, as investors worried that emergency measures by the Federal Reserve will fall short of cushioning the coronavirus' blows to the economy.
Fed cuts main interest rate to near zero and will boost assets by $700 billion
Submitted by cpowell on Sun, 2020-03-15 17:23 Section: Daily DispatchesBy Craig Torres and Rich Miller
Bloomberg News
Sunday, March 15, 2020
The Federal Reserve swept into action on Sunday in a new bid to save the U.S. economy from the fallout of the coronavirus, cutting its benchmark interest rate by a full percentage point to near zero and promising to boost its bond holdings by at least $700 billion.
Biggest move coming soon for gold and silver, GATA chairman tells USAWatchdog
Submitted by cpowell on Sun, 2020-03-15 13:13 Section: Daily DispatchesBy Greg Hunter
USAWatchdog.com
Sunday, March 15, 2020
Bill Murphy, chairman of the Gold Anti-Trust Action Committee (GATA), says: Don't worry about the recent price drop forced on the markets by the gold cartel with naked short selling. It’s not going to keep prices down for long.
Customers return to Hong Kong's protest-hit jewellery shops to sell their gold as coronavirus pushes prices sky-high
Submitted by cpowell on Sun, 2020-03-15 12:59 Section: Daily DispatchesBy Enoch Yiu
South China Morning Post, Hong Kong
Sunday, March 15, 2020
Hong Kong's jewellers, who took a big hit from months of anti-government protests, have found their shops busy again this year.
But the new customers are not shopping for bracelets, wedding rings, or earrings. They are there to sell their gold jewellery.
... Dispatch continues below ...
Mortgage rate rise increases pressure for Fed intervention
Submitted by cpowell on Sun, 2020-03-15 12:51 Section: Daily DispatchesBy Robert Armstrong and Brendan Greeley
Financial Times, London
Saturday, March 14, 2020
U.S. mortgage rates have risen to the highest level in months despite recent Federal Reserve interest rate cuts, complicating the central bank's efforts to stimulate the U.S. economy as the spread of coronavirus curtails business activity.
The plumbing behind financial markets is creaking -- loudly
Submitted by cpowell on Sun, 2020-03-15 12:43 Section: Daily DispatchesBy Tommy Wilkes
Reuters
Sunday, March 15, 2020
LONDON -- The coronavirus panic is jolting stock markets, with steep drops in major indexes grabbing the public’s attention. But behind the scenes, there is less understood and potentially more worrying evidence that stress is building to dangerous levels in crucial arteries of the financial system.
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