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Daily Dispatches
China thought to be stockpiling gold to cut dependence on U.S. dollar
Submitted by admin on Mon, 2022-11-21 22:39 Section: Daily DispatchesBy Munemasa Horio
Nikkei Asia, Tokyo
Tuesday, November 22, 2022
TOKYO -- Central banks are snapping up gold this year, but it is uncertain which ones are behind most of that shopping spree, fueling speculation that China is a big player.
Seeing how Russia has been hit by monetary sanctions by the West, China and some other countries must be hurrying to reduce dependence on the dollar, analysts reckon.
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Another day, another cryptocurrency fraud
Submitted by admin on Mon, 2022-11-21 22:02 Section: Daily DispatchesTwo Estonians Arrested in $575 Million Crypto Fraud and Money-Laundering Scheme
By Kanishka Singh
Reuters
Monday, November 21, 2022
WASHINGTON -- Two Estonian citizens were arrested in Tallinn, Estonia, on an 18-count indictment for their alleged involvement in a $575 million cryptocurrency fraud and money laundering conspiracy, the U.S. Justice Department said today.
Pam and Russ Martens: FTX's casualties include federally insured banks
Submitted by admin on Mon, 2022-11-21 10:24 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, November 21, 2022
On August 1 this year, we penned this headline at Wall Street On Parade: "Brace Yourself for Federally-Insured Bank Failures Caused by Crypto."
Our research for that article was so stomach-churning and frightening that we emailed the article to key staff for the senators who sit on the Senate Banking Committee.
One of the banks we researched for that article was Silvergate Bank. ...
... For the remainder of the report:
Closing of BIS gold leases shows revaluation is near, Maguire says
Submitted by admin on Fri, 2022-11-18 20:39 Section: Daily Dispatches8:42p ET Friday, November 18, 2022
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, interviewed by Shane Morand for this week's "Live from the Vault" program for Kinesis Money, says the closing of the gold lease positions of the Bank for International Settlements --
https://www.gata.org/node/22286
-- shows that central banks and bullion banks are now heavily long gold and ready for the monetary metal's upward revaluation, which he expects at the turn of the year.
Congress can restore the integrity of the dollar
Submitted by admin on Fri, 2022-11-18 19:14 Section: Daily DispatchesBy David Brat and Alexander William Salter
The Hill, Washington
Friday, November 18, 2022
All government agencies try to maximize power and minimize accountability, but the Federal Reserve is in a league of its own.
What began as a quasi-public clearinghouse with the limited function of stopping bank runs has evolved into a monetary-regulatory behemoth. Its sphere of influence has grown despite its failures, of which 40-year-high inflation is the most recent but by no means the worst.
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Silver heads for biggest deficit in decades, Silver Institute says
Submitted by admin on Fri, 2022-11-18 10:01 Section: Daily DispatchesBy Peter Hobson
Reuters
Friday, November 18, 2022
LONDON -- Global demand for silver is expected to rise 16% this year to 1.21 billion ounces, creating the biggest deficit in decades, according to the Silver Institute said Thursday.
Use of silver by industry, for jewellery and silverware, and for bars and coins for retail investors were all forecast to reach record levels, the institute said.
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Alasdair Macleod: The upside-down world of currency
Submitted by admin on Thu, 2022-11-17 20:26 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, November 17, 2022
The gap between fiat currency values and legal money, which is gold, has widened so that dollars retain only 2% of their pre-1970s value, and for sterling it is as little as 1%. Yet it is commonly averred that currency is money, and gold is irrelevant.
Brien Lundin: Get every word from 'the world's greatest investment event'
Submitted by admin on Thu, 2022-11-17 09:45 Section: Daily DispatchesBy Brien Lundin
Gold Newsletter / Golden Opportunities
Wednesday, November 16, 2022
You could call it the speculator's Nirvana.
Money Magazine dubbed it "the greatest investment show on Earth." Barron's said it was "an investment bazaar."
They were referring to the New Orleans Investment Conference, where fortunes have been made year after year for nearly a half century.
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New York Sun: FTX and the Age of Fiat Money
Submitted by admin on Thu, 2022-11-17 09:28 Section: Daily DispatchesFrom the New York Sun
Thursday, November 17, 2022
The best story so far on the collapse of FTX, at least in our view, is A.R. Hoffman’s dispatch in the Sun that marks the drama as a feature of our national experiment in fiat money. After all, if America had a sound currency, one anchored in the classical monetary specie of gold or silver, we wouldn’t have so many young geniuses out there hawking crypto coins and tokens as units of account and mediums of exchange.
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Craig Hemke at Sprott Money: Comex prices into year-end
Submitted by admin on Tue, 2022-11-15 20:31 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, November 15, 2022
The year 2022 hasn't played out as expected, but as the year draws to a close, the clouds are parting and a vision for 2023 comes into focus.
What did we know about 2022 when the year began?
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