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Daily Dispatches
Indian farmers reminded that gold is always as good as money
Submitted by cpowell on Thu, 2019-08-22 10:06 Section: Daily DispatchesIndians Pawning the Family Gold Amid Credit Crunch
By Rajendra Jadhav and Nupur Anand
Reuters
Thursday, August 22, 2019
Refused a loan by a state-run lender and desperate for funds to buy cotton seeds before the summer sowing season window closed, Indian farmer Babasaheb Mandlik ran out of choices -- he pawned his wife's gold jewelry.
Investors hoard most gold in ETFs in six years
Submitted by cpowell on Thu, 2019-08-22 09:58 Section: Daily Dispatches... And its custodian, HSBC, will be glad to short, swap, and rehypothecate it to prevent them from profiting from it.
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By Ranjeetha Pakiam
Bloomberg News
Thursday, August 22, 2019
FT imagines 'financial literacy' is defeating gold in India
Submitted by cpowell on Wed, 2019-08-21 11:08 Section: Daily Dispatches11:11a ET Wednesday, August 21, 2019
Dear Friend of GATA and Gold:
Predictably enough the Financial Times report today that is appended here underplays the Indian government's unending war against gold, while acknowledging that the government's paperization campaign has failed so far.
Switzerland has a new way to impose the world's lowest interest rate
Submitted by cpowell on Wed, 2019-08-21 10:38 Section: Daily DispatchesBy Catherine Bosley and Richard Jones
Bloomberg News
Wednesday, August 21, 2019
The Swiss National Bank has a new way of enforcing the world's lowest interest rate.
Iran plans currency devaluation
Submitted by cpowell on Wed, 2019-08-21 10:31 Section: Daily DispatchesIran Moves to Strike 4 Zeroes from Its Battered Currency
By Amir Vahdat and Jon Gambrell
Associated Press
Wednesday, August 21, 2019
TEHRAN, Iran -- Iran's president today sent to parliament a bill that would cut four zeroes from the value of the Islamic Republic's sanctions-battered currency, the rial, as tensions remain high between Tehran and Washington.
Dmitry Migunov: Russia needs time to exit the dollar, as a quick withdrawal won't work
Submitted by cpowell on Tue, 2019-08-20 21:42 Section: Daily DispatchesFrom the Middle East Media Research Institute, Washington
Tuesday, August 20, 2019
After sustaining a series of very tough sanctions imposed by the United States in 2017-2019, Russia has redoubled its efforts to modify the dollar-dominated international trade system. Russian expert Dmitry Migunov explained that Russia's de-dollarization plan consists of two parts.
Gold smashdowns aren't working anymore, GATA chairman tells GoldSeek Radio
Submitted by cpowell on Tue, 2019-08-20 20:44 Section: Daily Dispatches8:43p ET Tuesday, August 20, 2019
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy, interviewed by GoldSeek Radio's Chris Waltzek, says the usual smashdowns against gold aren't working anymore and he believes it's because the "gold cartel" is at last running out of the real metal it has used to control the price.
Pam and Russ Martens: Investment bank crony regulators dismember the Volcker Rule
Submitted by cpowell on Tue, 2019-08-20 17:39 Section: Daily DispatchesGoldman Sachs and JPMorgan Have Flagrantly Flouted the Volcker Rule for Nine Years: Now It's to Be Gutted by Federal Regulators
By Pam and Russ Martens
Wall Street on Parade
Tuesday, August 20, 2019
Craig Hemke at Sprott Money: Outlook for Comex silver improves
Submitted by cpowell on Tue, 2019-08-20 17:29 Section: Daily Dispatches5:29p ET Tuesday, August 29, 2019
Dear Friend of GATA and Gold:
Silver is showing signs that it may start to catch up with gold's rally soon, Craig Hemke of the TF Metals Report writes today at Sprott Money. The trader positioning on the New York Commodities Exchange has moved in silver's favor, Hemke writes, and more negative interest rates and "quantitative easing" are likely to help.
Another JPMorgan trader confesses to metals market manipulation, implicates superiors
Submitted by cpowell on Tue, 2019-08-20 17:19 Section: Daily DispatchesFormer JPMorgan Metals Trader Pleads Guilty to Spoofing Charges
By Kadhim Shubber
Financial Times, London
Tuesday, August 20, 2019
https://www.ft.com/content/1ff58008-c377-11e9-a8e9-296ca66511c9
A second former JPMorgan Chase precious metals trader has pleaded guilty to criminal charges of spoofing, the U.S. Department of Justice said today.
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