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Daily Dispatches
U.S. Treasury secretary would expropriate Russian assets, give them to Ukraine
Submitted by admin on Wed, 2024-02-28 13:23 Section: Daily DispatchesYellen Urges World Leaders to 'Unlock' Frozen Russian Central Bank Assets and Send Them to Ukraine
By Fatima Hussein
Associated Press, New York
Tuesday, February 27, 2024
WASHINGTON -- Treasury Secretary Janet Yellen on Tuesday offered her strongest public support yet for the idea of liquidating roughly $300 billion in frozen Russian central bank assets and using them for Ukraine's long-term reconstruction.
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German financial magazine interviews GATA secretary on gold price suppression
Submitted by admin on Tue, 2024-02-27 17:19 Section: Daily Dispatches5:17p ET Monday, February 27, 2024
Dear Friend of GATA and Gold:
Rainer Kromarek of the German financial magazine Smart Investor has just interviewed your secretary/treasurer about gold price suppression and what it will take for the monetary metal to break free of its central bank chains.
The interview can be found at the Smart Investor internet site --
https://www.smartinvestor.de/2024/02/22/im-zangengriff-der-notenbanken/
Maguire discounts gold confiscation, says bitcoin threat to dollar grows
Submitted by admin on Fri, 2024-02-23 20:54 Section: Daily Dispatches8:54p ET Friday, February 23, 2024
Dear Friend of GATA and Gold:
On this week's edition of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire tells host Shane Morand that any attempt by the U.S. government to confiscate gold would collapse bullion banks and cause an explosive rise in the monetary metal's price.
Maguire adds that there seems to be a big shift of investment from gold exchange-traded funds into bitcoin ETFs and that bitcoin is becoming as much a threat to the dollar as gold is.
Bundesbank burns through more than E20 billion to cover huge losses
Submitted by admin on Fri, 2024-02-23 12:08 Section: Daily DispatchesNext stop: gold revaluation?
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By Martin Arnold
Financial Times, London
Friday, February 23, 2024
The German central bank has burnt through the entire E19.2 billion of provisions it built up to cover financial risks as well as most of its E3.1 billion reserves to absorb the huge losses it made last year due to higher interest costs.
Ted Butler: Locked and loaded
Submitted by admin on Thu, 2024-02-22 21:54 Section: Daily DispatchesBy Ted Butler
SilverSeek.com
Thursday, February 22, 2024
We have now reached the point in silver (and gold) where it is difficult for me to see how prices don't quickly explode.
Everything I look at, from a physical supply/demand perspective to the paper positioning set up on the Comex, tells me we are at the point where only an upward price surge makes any sense.
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Could Kansas residents start using gold as currency?
Submitted by admin on Wed, 2024-02-21 18:45 Section: Daily DispatchesBy Jack Harvel
Topeka (Kansas) Capital-Journal
Wednesday, February 21, 2024
Kansans could start using gold and silver as currency to cover debts, taxes, and state fees if the Kansas specie legal tender act is passed.
Twenty-seven Kansas representatives sponsored the bill, which advocates say allows people to protect themselves from inflation. Several of the proponents also spoke broadly about their belief that gold is a superior form of currency compared to fiat.
Pam and Russ Martens: JPMorgan says its 'trading venues' are under investigation
Submitted by admin on Tue, 2024-02-20 10:22 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Tuesday, February 20, 2024
Last Friday, ahead of a three-day weekend when bad news could be expected to evaporate into the ether by the next news cycle, JPMorgan Chase dropped a bombshell in its 10-K (annual report) filing with the Securities and Exchange Commission.
The bank, which has admitted to an unprecedented five criminal felony counts since 2014, said its "trading venues" were under investigation by three unnamed regulatory bodies.
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Bad property debt exceeds reserves at largest U.S. banks
Submitted by admin on Tue, 2024-02-20 10:10 Section: Daily DispatchesBy Stephen Gandel
Financial Times, London
Tuesday, February 20, 2024
Bad commercial real estate loans have overtaken loss reserves at the biggest U.S. banks after a sharp increase in late payments linked to offices, shopping centers, and other properties.
The average reserves at JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley have fallen from $1.60 to 90 cents for every dollar of commercial real estate debt on which a borrower is at least 30 days late, according to filings to the Federal Deposit Insurance Corp.
Markets start to speculate if the next Fed move is up, not down
Submitted by admin on Tue, 2024-02-20 09:57 Section: Daily DispatchesBy Liz Capo McCormick and Ye Xie
Bloomberg News
Tuesday, February 20, 2024
Investors are beginning to war-game how the Federal Reserve can manage a U.S. economy that just won't land, with some even debating whether interest-rate hikes will be needed only weeks after a steady run of reductions appeared all but certain.
Bets on lower rates coming soon were so prevalent a few weeks ago that Fed Chair Jerome Powell publicly cautioned that policymakers were unlikely to be in position to cut as of March.
Grand jury adds details in disappearance of gold and silver from Delaware depository
Submitted by admin on Mon, 2024-02-19 19:55 Section: Daily DispatchesBy Joseph N. DiStefano
Philadelphia Inquirer
Monday, February 19, 2024
Robert Leroy Higgins' Delaware gold and silver storage businesses ran out of operating funds in 2012, but, according to a federal grand jury, the West Chester precious-metals dealer was able to attract new clients and stay in business for 10 more years by stealing coins and bullion that a thousand customers had entrusted to the vaults at his Wilmington warehouse.
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