Daily Dispatches

IMF admits disastrous love affair with euro, apologizes for immolating Greece

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By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, July 28, 2016

The International Monetary Fund's top staff misled their own board, made a series of calamitous misjudgments in Greece, became euphoric cheerleaders for the euro project, ignored warning signs of impending crisis, and collectively failed to grasp an elemental concept of currency theory.

Barrick puts Super Pit stake on the market

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By Nick Evans
The West Australian, Perth
Thursday, July 28, 2016

Barrick Gold has put on the market its half of Kalgoorlie's iconic Super Pit gold mine, finally confirming it intends to complete its exit from Australia.

Joe Weisenthal: How Donald Trump changed my mind about gold

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By Joe Weisenthal
Bloomberg News
Thursday, July 28, 2016

If you poke around on the internet, you'll find a lot of people who have criticized me for being a "gold hater." Here are two different pieces that took me just a few seconds to find:

http://www.bullionbaron.com/2015/08/the-religion-of-gold-hating.html

There are plenty of tweets out there saying the same thing.

TD's $230 billion man goes maximum gold as volatility mounts

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By Eric Lam and Allison McNeely
Bloomberg News
Thursday, July 28, 2016

In a world flush with central bank stimulus and swirling with volatility, Bruce Cooper is pushing for the one asset he says he can count on: gold.

DRD Gold CEO sees metal shortage as 'paper gold' increases

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4:16p ET Wednesday, July 27, 2016

Dear Friend of GATA and Gold:

Mining Weekly this week quotes DRD Gold CEO Niel Pretorius as recognizing a growing problem with "paper gold," with the supply expanding while gold production declines.

"There's a shortage of real gold to cover the paper gold position that's out there," Pretorius says.

K92 Mining may show that Barrick is much better at geology than business

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3:55p ET Wednesday, July 27, 2016

Dear Friend of GATA and Gold:

Reuters reported today that, continuing efforts to reduce its huge debt, Barrick Gold is negotiating to sell another $1.9 billion in gold-mining interests in Africa:

http://www.gata.org/node/16621

Barrick weighs sale of $1.9 billion Acacia stake, sources tell Reuters

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By John Tilak and Nicole Mordant
Reuters
Tuesday, July 28, 2016

Barrick Gold Corp, the world's largest gold producer, is weighing a sale of its majority stake in African unit Acacia Mining and has approached several South African miners, according to sources familiar with the situation.

Nick Barisheff: Gold and pork bellies

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The former is always money, the latter is breakfast.

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By Nick Barisheff
BMG Bullion, Markham, Ontario, Canada
Tuesday, July 26, 2016

'Impending gold production cliff' may deliver a jolt to prices

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Assuming, of course, that buyers want actual metal instead of "paper gold."

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By Myra P. Saefong
Marketwatch.com, New York
Tuesday, July 26, 2016

Gold discoveries peaked in 2007 and production will soon follow, strengthening the value of the yellow metal and possibly fueling a boom in mergers and acquisitions in the gold-mining sector, according to Sprott Asset Management.

Events are against monetary metals this week, Turk tells KWN

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6:04p ET Monday, July 25, 2016

Dear Friend of GATA and Gold:

Events are against the monetary metals this week, GoldMoney founder and GATA consultant James Turk tells King World News today. Turk adds that if the metals show any strength at all this week, it will be a sign that governments are losing control of the market. An excerpt from the interview is posted at KWN here:

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