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Daily Dispatches
The writing on the floor
Submitted by admin on Tue, 2024-10-29 13:46 Section: Daily DispatchesMene, mene, tekel, upharsin.
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By Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Tuesday, October 29, 2024
The universe seems to know the dollar is in trouble.
During a recent news conference, a reporter asked Treasury Secretary Janet Yellen, "How concerned are you about the potential impact of the dollar's status as the world reserve currency?"
Before the reporter could finish the question, the Treasury Department seal fell off the podium and hit the floor with a loud series of thuds.
BIS debates ending project eyed by Putin for undermining dollar
Submitted by admin on Mon, 2024-10-28 19:33 Section: Daily DispatchesBy Bastian Benrath-Wright, Mark Schroers, and Jana Randow
Bloomberg News
Monday, October 28, 2024
The Bank for International Settlements is debating whether to shut down a pilot cross-border payments platform after Russia's President Vladimir Putin identified the underlying technology as a tool to circumvent sanctions and potentially undermine the dollar's dominance in the global financial system.
Jim Rickards: BRICs trading plan is an informal gold standard
Submitted by admin on Mon, 2024-10-28 19:26 Section: Daily DispatchesParticipating countries will resolve trade imbalances by buying gold
By Jim Rickards
Daily Reckoning, Baltimore
Monday, October 28, 2024
There's so much to discuss right now, from the upcoming election to geopolitical instability. But today I want to talk about gold. I call it the once and future money.
The use of gold as money existed from antiquity until gold backing broke down entirely in 1971. Still, central banks and finance ministries hold more than 37,000 metric tonnes of gold in reserve.
Peter Hambro: How to buy gold at a discount
Submitted by admin on Mon, 2024-10-28 10:58 Section: Daily DispatchesBy Peter Hambro
This is Money / Daily Mail, London
Sunday, October 27, 2024
At today's gold price of $2,733 per troy ounce, just a single 400-ounce "large bar" will cost you $1 million or L840,000.
In the 1960s the late Jocelyn Hambro, chairman of his family bank, entertained her late Majesty Queen Elizabeth II and the Duke of Edinburgh to lunch in the bank's famous dining room.
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History Channel posts 'America's Book of Secrets' episode citing GATA
Submitted by admin on Sun, 2024-10-27 15:40 Section: Daily Dispatches3:45p ET Sunday, October 27, 2024
Dear Friend of GATA and Gold:
China, BRICs bloc not ready to reject U.S. dollar despite Russian entreaties
Submitted by admin on Fri, 2024-10-25 23:53 Section: Daily DispatchesBy Amanda Lee
South China Morning Post, Hong Kong
Friday, October 25, 2024
While there are growing concerns among the BRICs bloc of emerging economies over the scope of financial sanctions from the United States, few countries in the grouping seem ready to ditch the U.S. dollar despite Russian President Vladimir Putin's recent efforts to encourage an alternative system of payment among members.
Newmont shares fall as cost struggles undermine gold profit surge
Submitted by admin on Fri, 2024-10-25 11:06 Section: Daily DispatchesBy Jacob Lorinc
Bloomberg News
Thursday, October 24, 2024
Newmont Corp. shares had their biggest decline in more than two years after investors soured on earnings results that suggest the top gold producer is struggling to control mining costs and capitalize on surging bullion prices.
Gold and silver bull builds excitement for 50th anniversary New Orleans conference
Submitted by admin on Thu, 2024-10-24 20:06 Section: Daily DispatchesJoin GATA there but act soon. The conference's room block at the conference hotel, the Hilton New Orleans Riverside, closes tomorrow, Friday, October 25.
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By Brien Lundin
Gold Newsletter and New Orleans Investment Conference
Metairie, Louisiana
Thursday, October 3, 2024
We're in the final stages of preparing our agenda for this year's blockbuster 50th anniversary New Orleans Investment Conference, and I'm excited about the surprises we'll have in store for you.
Russia proposes to put the Comex and LME out of the market-rigging business
Submitted by admin on Thu, 2024-10-24 14:56 Section: Daily DispatchesRussia in Talks with BRICS Over Precious Metals Exchange
By Anastasia Lyrchikova, Darya Korsunskaya, and Gleb Bryanski
Reuters
Thursday, October 24, 2024
MOSCOW -- Russia is in talks with other BRICS members about creating an international precious metals exchange to ensure fair pricing and trade growth, the country's Finance Minister Anton Siluanov said in a statement today.
HSBC Hong Kong joins China's alternative to SWIFT payments system
Submitted by admin on Thu, 2024-10-24 10:46 Section: Daily DispatchesBy Kaye Wiggins
Financial Times, London
Thursday, October 24, 2024
HSBC Hong Kong has joined China's international payments system as a direct participant, giving the world's biggest player in trade finance a key role in Beijing's push to expand use of the renminbi.
The bank's Hong Kong unit is "formally joining" China's Cross-Border Interbank Payment System, known as CIPS, David Liao, co-chief executive of the bank's business in the Chinese territory, told a conference in Beijing, where he said the dominant role of the U.S. dollar was being "diluted."
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