Daily Dispatches

Argentina raises interest rate to 60% after currency resumes slide

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By Colby Smith
Financial Times, London
Thursday, August 30, 2018

Argentina's central bank pumped up interest rates by 15 percentage points to 60 percent today after the peso plunged in early trading.

Petro cryptocurrency is harder to find in Venezuela than toilet paper

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In Venezuela, New Cryptocurrency Is Nowhere to Be Found

By Brian Ellsworth
Reuters
Thursday, August 30, 2018

ATAPIRIRE, Venezuela -- To hear Venezuela's leftist President Nicolas Maduro tell it, this remote hamlet of 1,300 souls is perched on the cutting edge of an innovation in cryptocurrency.

BBC video tour of London silver vaults fails to produce the queen

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7:46p ET Tuesday, Augusdt 28, 2018

Dear Friend of GATA and Gold:

Venezuela proclaims the solution for hyperinflation: paper gold

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In its own way, it sort of works for Western governments too.

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Venezuela to Sell Gold Ingots to Pensioners as Inflation Soars

By Patricia Laya and Noris Soto
Bloomberg News
Monday, August 27, 2018

President Nicolas Maduro said Venezuela will begin to sell certificates backed by gold ingots as a savings mechanism starting next month.

Craig Hemke at Sprott Money: The trend away from the dollar accelerates

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5:31p ET Tuesday, August 28, 2018

Dear Friend of GATA and Gold:

The trend away from use of the U.S. dollar as the world reserve currency is accelerating as the United States weaponizes the dollar, Craig Hemke of the TF Metals Report writes at Sprott Money today. He concludes that eventually this will boost gold and silver prices.

Gal Luft: The anti-dollar awakening could be ruder and sooner than most think

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By Gal Luft
CNBC, New York
Monday, August 27, 2018

The United States is waging economic warfare against one tenth of the world's countries with cumulative population of nearly 2 billion people and combined gross domestic product of more than $15 trillion.

EU looking to sidestep U.S. sanctions with payment system plan

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By William Horobin and Birgit Jennen
Bloomberg News
Monday, August 27, 2018

Germany and France said they're working on financing solutions to sidestep U.S. sanctions against countries such as Iran, including a possible role for central banks.

Deutsche Bank merger with Commerzbank considered likely

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Deutsche-Commerzbank Deal Seen as a Question of When, Not If

By Olaf Storbeck
Financial Times, London
Monday, August 27, 2018

FRANKFURT, Germany -- To many observers in Frankfurt a tie-up between Deutsche Bank and Commerzbank is not seen as a question of if, but when. 

China suggests it wants no more devaluation of yuan

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Yuan Hits Four-Week High as China Signals Support, Revives X-Factor for Fixing

From Reuters
Sunday, August 26, 2018

Would Tocqueville's Hathaway risk too much by being honest?

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10:07p Sunday, August 26, 2018

Dear Friend of GATA and Gold:

In response to GATA's August 23 dispatch -- "Tocqueville's Hathaway Marvels at Gold's Depression but Declines to Explain It" --

http://www.gata.org/node/18446

-- a friend who is a fund manager writes:

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