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Daily Dispatches
'Audit the Fed' bill gets new push under Trump
Submitted by cpowell on Wed, 2017-01-04 14:55 Section: Daily DispatchesBy Peter Schroeder
The Hill, Washington, D.C.
Wednesday, January 4, 2017
Controversial legislation to subject the Federal Reserve's monetary policy powers to outside scrutiny is getting new life in Washington.
Rep. Thomas Massie, R-Ky., and Sen. Rand Paul, R-Ky., have re-introduced legislation to "audit the Fed" after a similar effort stalled in the last Congress.
U.S. LIBOR breaks above 1 percent for first time since 2009
Submitted by cpowell on Wed, 2017-01-04 10:58 Section: Daily DispatchesBy Richard Leong and Dan Burns
Reuters
Wednesday, January 4, 2017
The rate banks charge each other to borrow dollars for three months rose above 1 percent today for the first time since May 2009 as global interest rates extend their climb on expectations of accelerating growth and inflation.
China Inc.'s large dollar debts fuel Beijing's efforts to curb yuan plunge
Submitted by cpowell on Tue, 2017-01-03 18:11 Section: Daily DispatchesBy Lingling Wei
The Wall Street Journal
Tuesday, January 3, 2017
BEIJING -- The large pile of foreign debt owed by Chinese companies, from state-owned banks to airlines, is giving added impetus to Beijing's efforts to keep the yuan from falling too steeply against the rallying dollar.
Mike Kosares: The gold owner's guide to 2017
Submitted by cpowell on Tue, 2017-01-03 14:47 Section: Daily Dispatches2:45p ET Tuesday, January 3, 2017
Dear Friend of GATA and Gold:
In his "Gold Owner's Guide to 2017," Mike Kosares of USAGold in Colorado writes that gold remains in a long-term uptrend and the U.S. dollar in a long-term downtrend despite the movements of the last several years. Silver, Kosares adds, has been doing especially well. His analysis is posted at USAGold here:
GATA's Ed Steer to speak at Vancouver Resource Investment Conference
Submitted by cpowell on Tue, 2017-01-03 14:07 Section: Daily Dispatches2:07p ET Tuesday, January 3, 2017
Dear Friend of GATA and Gold:
GATA Board of Directors member Ed Steer, publisher of the daily Ed Steer's Gold and Silver Digest letter --
Note ban seen shaving a third of India's gold demand in 2017
Submitted by cpowell on Sun, 2017-01-01 18:48 Section: Daily DispatchesBy Rejesh Bhayani
Business Standard, New Delhi
Saturday, December 31, 2016
Demonetization is expected to shave 300 tonnes off India's gold demand, which is unlikely to come back in a hurry.
India discounts widen, China premiums narrow on sluggish demand
Submitted by cpowell on Sat, 2016-12-31 09:55 Section: Daily DispatchesBy Rajendra Jadhav and Apeksha Nair
Reuters
Friday, December 30, 2016
Gold discounts in India widened this week as a rebound in global prices prompted buyers to postpone purchases amid a severe cash crunch, while demand across Asia remained subdued.
U.S. dollar's share of global currency reserves slips in third quarter
Submitted by cpowell on Sat, 2016-12-31 08:56 Section: Daily DispatchesBy Jason Lange
Reuters
Friday, December 30, 2016
The U.S. dollar's share of currency reserves reported to the International Monetary Fund slipped in the third quarter of 2016 to its lowest level in two years, data from the IMF showed today.
Currency revocation seems unlikely to generate windfall for Indian government
Submitted by cpowell on Fri, 2016-12-30 22:45 Section: Daily DispatchesIndians Rush to Exchange Cash Ahead of Deadline
Demonetisation Has Seen More Money Returned to the System than Originally Expected
By Kiran Stacey
Financial Times, London
Friday, December 30, 2016
https://www.ft.com/content/699c0d30-ce56-11e6-864f-20dcb35cede2
A tally of Iran sanctions relief includes more than $10 billion in cash, gold
Submitted by cpowell on Fri, 2016-12-30 20:40 Section: Daily DispatchesBy Carole E. Lee and Jay Solomon
The Wall Street Journal
Friday, December 30, 2016
WASHINGTON -- In the three years since a preliminary nuclear deal was struck with Iran, Tehran has received more than $10 billion in sanctions relief from around the world in the form of cash and gold, according to current and former U.S. officials.
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