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Daily Dispatches
Argentina, in dollar love affair, agonizes over divorcing the peso
Submitted by admin on Tue, 2023-09-05 21:48 Section: Daily DispatchesBy Marc Jones, Eliana Raszewski, and Rodrigo Campos
Reuters
Tuesday, September 5, 2023
María Barro, a 65-year-old domestic worker in Buenos Aires, buys a few dollars each month with her peso salary, a hedge against Argentina's persistent inflation now running at over 100% and a steady devaluation of the little-loved local peso.
The peso currency is now in the crosshairs of the country's dark-horse presidential front-runner, libertarian radical Javier Milei, who has pledged to eventually scrap the central bank and dollarize the economy, Latin America's third largest.
Jan Nieuwenhuijs: Estimated Chinese gold reserves rise above 5,000 tonnes
Submitted by admin on Tue, 2023-09-05 13:58 Section: Daily Dispatches1:57p ET Tuesday, September 5, 2023
Dear Friend of GATA and Gold:
Gold researcher Jan Nieuwenhuijs, who has closely followed the gold market in China for many years, today provides his estimates of China's official gold reserves and the amount of gold held by the country's residents. It's a lot in both respects.
Nieuwenhuijs' analysis is headlined "Estimated Chinese Gold Reserves Cross 5,000 Tonnes" and it's posted at the Gainseville Coins internet site here:
'Live from the Vault' reviews huge threat to government's money monopoly: Valaurum bills
Submitted by admin on Fri, 2023-09-01 21:52 Section: Daily Dispatches9:53p ET Friday, September 1, 2023
Dear Friend of GATA and Gold:
On this week's episode of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire interviews Adam Trexler, founder of Valaurum, the company issuing polymer-coated, gold-containing bills in assorted denominations that put the monetary metal back in circulation in a supremely practcal way for people of ordinary means.
Ronan Manly: Singapore becomes more open about its gold reserves
Submitted by admin on Thu, 2023-08-31 09:12 Section: Daily Dispatches9:12a ET Thursday, August 31, 2023
Dear Friend of GATA and Gold:
Bullion Star gold researcher Ronan Manly this week examines the recent candor of Singapore's central bank, the Monetary Authority of Singapore, about the nation's rapidly increasing gold reserves.
Manly's analysis is headlined "First-Ever Filming of Singapore's Gold Reserves in Super-Secret Gold Vault" and it's posted at Bullion Star here:
South Africa's Harmony plans to take world's deepest gold mine deeper
Submitted by admin on Wed, 2023-08-30 18:14 Section: Daily DispatchesBy Felix Njini
Reuters
Wednesday, August 30, 2023
NAIROBI, Kenya -- Harmony Gold Mining, South Africa's biggest gold producer by volume, said it will seek board approvals on deepening its flagship Mponeng mine, which buoyed a rebound to profit in the year through June.
The Johannesburg-based firm aims to extend the life of the world's deepest gold mine and will seek board approvals when studies are completed this year, CEO Peter Steenkamp said.
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Alasdair Macleod: Hedging the end of fiat
Submitted by admin on Mon, 2023-08-28 13:03 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Monday, August 28, 2023
It is slowly coming clear that the fiat dollar's hegemony is drawing to a close. That's what the BRICS summit in Johannesburg is all about -- rats, if you like, deserting the dollar's ship. With the dollar's backing being no more than a precarious faith in it, it is bound to be sold down by foreign holders.
Being only fiat, it could even become valueless, threatening to take down the other Western alliance fiat currencies as well.
BRICS summit ended with no new currency and contradictory comments about it
Submitted by admin on Mon, 2023-08-28 09:46 Section: Daily DispatchesBy Huileng Tan
Insider, New York
Monday, August 28, 2023
A group of major emerging economies wrapped up a summit in South Africa last Thursday by welcoming six new members -- but without a new dollar-challenging currency.
The summit of Brazil, Russia, India, China, and South Africa or BRICS nations added Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates to its fold. It is the bloc's first expansion in 13 years as it seeks to be an alternative to Western-led groupings.
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As big oil exporters join BRICS, local currency settlements may replace dollar
Submitted by admin on Fri, 2023-08-25 20:06 Section: Daily DispatchesFrom Global Times, Beijing
Friday, August 25, 2023
With Iran, Saudi Arabia, and the United Arab Emirates joining BRICS, the multilateral mechanism now includes major global oil producers and importers. Analysts said that a wider adoption of local currencies for trade among BRICS countries, rather than using the U.S. dollar, seems more natural.
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Jan Nieuwenhuijs: The West is losing control over the gold price
Submitted by admin on Fri, 2023-08-25 12:47 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Friday, August 25, 2023
An important change has unfolded in the global gold market. The East has been driving up the gold price, predominantly in late 2022 and the first months of 2023, breaking the West’s long standing pricing power.
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U.S. budget deficits are exploding like never before
Submitted by admin on Fri, 2023-08-25 11:57 Section: Daily DispatchesBy Liz Capo McCormick, Erik Wasson, Christopher Condon, and Alexandre Tanzi
Bloomberg News
Thursday, August 24, 2023
American politicians are keener than ever to juice the economy with government cash, a shift that's already helping to drive up borrowing costs and looks likely to keep them high long after the inflation emergency is over.
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