Daily Dispatches

Ronan Manly: French central bank and JP Morgan team up to boost gold lending


5:04p ET Sunday, December 9, 2018

Dear Friend of GATA and Gold:

Bullion Star gold analyst Ronan Manly today examines the Banque de France's (relatively) new partnership with JPMorganChase in gold swapping and lending -- that is, the gold market-rigging business -- noting connections with other central banks and the strict secrecy in which their gold business is conducted.

India and United Arab Emirates to stop using U.S. dollars in trade


India, UAE Sign Currency Swap Deal to Boost Trade Ties

By Fareed Rahman
From Gulf News, Dubai, United Arab Emirates
Tuesday, December 4, 2018

ABU DHABI, United Arab Emirates -- India and the UAE today signed a currency swap agreement to boost trade and investment ties between the two countries.

Detour Gold's battle with billionaire down to the wire -- and both sides may claim victory


By Gabriel Friedman
National Post, Toronto
Friday, December 7, 2018

U.S. hedge fund billionaire John Paulson’s battle to oust the entire board of directors at Toronto-based Detour Gold Corp. and replace them with his own hand-picked group officially ends when final ballots are counted on Tuesday, but he may already claim some victory.

And perhaps Detour will too.

BIS gold swaps fall in November but bank continues secret trading


By Robert Lambourne
Saturday, December 8, 2018

November saw a continuation of significant trading in gold swaps by the Bank for International Settlements.

After falling in August and September, the BIS' purchases of gold via gold swaps soared in October, falling back by around 64 tonnes in November.

London metals trader told CFTC, Justice about JPM's market rigging 7 years ago


1:20p ET Friday, December 7, 2018

Dear Friend of GATA and Gold:

London metals trader Andrew Maguire, interviewed today by King World News, says he alerted the U.S. Commodity Futures Trading Commission and Justice Department seven years ago to the gold and silver market rigging done by a JPMorganChase trader who recently confessed in a plea bargain with the Justice Department.

Ireland's central bank says its gold transactions are too 'sensitive' to disclose


Thanks to GoldCore's Mark O'Byrne for publicizing this.

* * *

Central Bank silent over plans for Irish gold in UK

By John Mulligan
Irish Independent, Dublin
Friday, December 7, 2018

NYSE accused of letting Morgan Stanley make after-hours trades


By Kevin Dugan
New York Post
Thursday, December 6, 2018

At the New York Stock Exchange, some traders are more equal than others.

That's the bitter takeaway from stockbrokers, who say the Big Board, in an unusual move last week, gave special treatment to a broker at Morgan Stanley who asked to trade large blocks of stocks for several minutes after the markets closed.

Central banks fear they might not rule the world forever


All Around the World, Central Bank Independence Is Under Threat

Anirban Nag, Rene Vollgraaff, and Walter Brandimarte
Bloomberg News
Thursday, December 6, 2018

South Africa's top monetary policy maker spoke for his peers around the world last week when he declared that threats to central-bank independence from politicians are no longer just an "emerging-market phenomenon."

Maduro says Russia will invest billions in Venezuela's oil and gold production


Russia May Be Handing Vanezuela a $6 Billion Lifeline

By Jim Wyss
Miami Herald
Thursday, December 6, 2018

BOGOTA, Colombia -- As Washington tries to build an economic wall around Venezuela, President Nicolás Maduro keeps digging tunnels.

Venezuelan officials seek meeting with Bank of England over gold repatriation, sources tell Reuters


By Mayela Armas
Thursday, December 6, 2018

CARACAS -- Two high-ranking Venezuelan officials are traveling to London with plans to meet with the Bank of England over the repatriation of $550 million in gold held in the bank’s coffers, according to two sources with knowledge of the situation.

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