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Daily Dispatches
Cuba announces surprise reversal of U.S. dollar deposit ban
Submitted by admin on Tue, 2023-04-11 11:25 Section: Daily DispatchesFrom Agence France-Presse
Tuesday, April 11, 2023
HAVANA -- Cuba's government on Monday announced a surprise lifting of its ban on U.S. dollar deposits in banks, reversing a policy that had been in place across the communist island nation since June 2021.
"From this moment on, financial and banking institutions will accept cash deposits of US dollars in bank accounts," said a Central Bank of Cuba resolution published Monday in the country's Official Gazette.
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Jim Rickards: Goodbye, King Dollar
Submitted by admin on Mon, 2023-04-10 20:39 Section: Daily DispatchesBy James G. Rickards
The Daily Reckoning, Baltimore
Monday, April 10, 2023
I’ve written for years about different nations’ persistent efforts to dethrone the U.S. dollar as the leading global reserve currency and the main medium of exchange.
At the same time, I’ve said that such processes don’t happen overnight; instead, they happen slowly and incrementally over decades.
While that’s true, the process is accelerating in ways no one could have anticipated just over a year ago. ...
For the remainder of the analysis:
London metals trader Maguire reviews movement to escape dollar
Submitted by admin on Sat, 2023-04-08 17:00 Section: Daily Dispatches5p ET Saturday, April 8, 2023
Dear Friend of GATA and Gold:
Commenting on Kinesis Money's "Live from the Vault" program this week, London metals trader Andrew Maguire reviews the maneuvers of more countries to escape the U.S. dollar and the U.S.-controlled international payment system. The program is 41 minutes long and can be seen at YouTube here:
U.S. dollar isn't the only currency making colonies of its users
Submitted by admin on Sat, 2023-04-08 09:59 Section: Daily Dispatches10a ET Saturday, April 8, 2023
Dear Friend of GATA and Gold:
The U.S. dollar isn't the only currency operating as a mechanism of imperialism. The Central African franc, administered by the French government, mostly in its former colonies in Africa, deprives them of sovereignty over their monetary policy and, it is argued, drains their wealth away to France. A video by an Azerbaijan-based organization, Caspian Report, titled "France Secretly Owns 14 Countries," explains it at YouTube here:
Chinese government view: U.S. plunders the world with dollar hegemony
Submitted by admin on Sat, 2023-04-08 09:31 Section: Daily DispatchesDollar Hegemony Creates Chaos
From China Daily, Beijing
Saturday, April 8, 2023
https://www.chinadaily.com.cn/a/202304/08/WS6430bfb2a31057c47ebb8fcc.html
The world is holding its breath for a simmering bank crisis in the United States triggered by the spectacular collapse of Silicon Valley Bank and Signature Bank.
Peter Hambro: He who has the gold makes the rules
Submitted by admin on Fri, 2023-04-07 13:13 Section: Daily DispatchesBy Peter Hambro
Reaction, London
Thursday, April 6, 2023
Straws in the wind presage the oncoming storm, and not everyone notices in time. One such straw has just appeared in the gold market and only the most beady-eyed of your readers will have noticed that JPMorganChase did not, as is usual, roll over its maturing derivatives position in gold. Instead the bank delivered physical gold to those standing for delivery.
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China reports fifth month of increasing gold reserves
Submitted by admin on Fri, 2023-04-07 12:44 Section: Daily DispatchesFrom Bloomberg News
Friday, April 7, 2023
The People’s Bank of China raised its holdings by about 18 tons in March, according to data on its website on Friday. Total stockpiles now sit at about 2,068 tons, after growing by about 102 tons in the four months before March.
Nations have been building up stockpiles of bullion amid heightened geopolitical risks and high inflation. Central-bank demand rose for a second year in 2022, and the biggest buyers in January of this year were Turkey, China and Kazakhstan, according to the World Gold Council.
Texas legislators propose a gold-backed digital currency for state
Submitted by admin on Fri, 2023-04-07 08:09 Section: Daily DispatchesBy Jordan Finneseth
Kitco News, Montreal
Thursday, April 6, 2023
As lawmakers in the U.S. introduce bills pushing back against the creation of a U.S.-dollar-based central bank digital currency, Texas is opting to go a different route with the creation of a state-issued, gold-backed digital currency.
'Everything is being stripped and stolen' in South Africa's run-down city of gold
Submitted by admin on Fri, 2023-04-07 08:02 Section: Daily DispatchesBy Joseph Cotterill
Financial Times, London
Friday, April 7, 2023
When Roesdien Hendricks warns that his community in the heart of Johannesburg is about to explode because of illegal gold miners who scare away the police, strip power cables, and divert water supplies, he is not exaggerating.
Alasdair Macleod: Time to trash Triffin
Submitted by admin on Thu, 2023-04-06 10:48 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, April 6, 2023
The dollar-based credit bubble is imploding and emerging economies are seeking protection by accepting trade settlement in other currencies. The U.S. policy of threatening regime change, currency destabilisation, or other means of ensuring that nations remain in its sphere of influence are failing.
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