Why central banks disagree with Gary North about gold

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1p ET Friday, October 20, 2017

Dear Friend of GATA and Gold:

In his essay this week, "The Case Against Gold as a Central Bank Asset" --

https://www.garynorth.com/public/17271.cfm

-- the economic historian and libertarian financial writer Gary North argues that central banks should get rid of their gold reserves.

Barclays sued by fund for $850 million in metals market abuse

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By Jack Farchy and Mark Burton
Bloomberg News
Thursday, October 19, 2017

Red Kite Management Ltd., the world's largest metals hedge fund, is suing Barclays for alleged market abuse in the copper market that it claims cost the firm at least $850 million between 2010 and 2013.

Barrick gives Tanzania stake in mines, $300 million to end dispute

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From Reuters
via The New York Times
Thursday, October 19, 2017

DAR ES SALAAM, Tanzania -- Barrick Gold will give Tanzania a 16 percent stake in three gold mines, a 50 percent share of revenue from those mines, and a one-off payment of $300 million to resolve a dispute that has hit its operations in the country, the two sides said.

Hugo Salinas Price: How unbacked fiat money corrupts society

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7:44p ET Wednesday, October 18, 2017

Dear Friend of GATA and Gold:

In commentary he laconically headlines "Anecdotes and Reminiscences," Hugo Salinas Price of the Mexican Civic Association for Silver today uses episodes from his country's history to illustrate the corrupting tendency of unbacked fiat money.

Bitcoin falls on reminder that CFTC might regulate it

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Bitcoin Just Had Its Biggest Drop in a Month

By Constantine Courcoulas
Bloomberg News
Wednesday, October 18, 2017

Traders waiting for a pullback in bitcoin’s price to rebuild positions in the world's largest cryptocurrency may have the U.S. Commodity Futures Trading Commission to thank.

Chinese buyers reported interested in Scotiabank's gold business

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Scotiabank Looks to Sell Gold Trading Unit After Money-Laundering Scandal

By Henry Sanderson, Neil Hume, James Fontanella-Khan, and Gregory Meyer
Financial Times, London
Wednesday, August 18, 2017

Charts from Incrementum's latest 'In Gold We Trust' report updated and compiled

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10:06a ET Wednesday, October 18, 2017

Dear Friend of GATA and Gold:

The charts from Incrementum AG's "In Gold We Trust" report for 2017, compiled by Ronald-Peter Stoferle and Mark Valek, have been updated and assembled and posted in PDF format at Incrementum's internet site. Stoferle and Valek consider them pretty bullish. They can be found here:

Global warming uncovers biggest Canadian gold deposit

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By Anna Golubova
Kitco News, Montreal
Tuesday, October 17, 2017

Miners could not even see Canada's biggest gold deposit until a glacier receded and uncovered what lay beneath, according to one mining executive with operations in northern British Columbia.

Silver coin proposal discussed on Mexican TV by Salinas Price

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9:58p ET Tuesday, October 17, 2017

Dear Friend of GATA and Gold:

Hugo Salinas Price, president of the Mexican Civic Association for Silver, was interviewed on television in Mexico on Saturday about his proposal for Mexico's central bank to issue an undenominated silver coin whose price in pesos would be guaranteed by the bank not to fall.

Leonid Bershidsky: Authoritarian cryptocurrencies are coming

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By Leonid Bershidsky
Bloomberg News
Tuesday, October 17, 2017

With Russia and China both embracing the idea of sovereign cryptocurrencies, it's time to ask a simple question: Why is a technology threatening to decentralize money so attractive to highly centralized, authoritarian regimes?