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Daily Dispatches
Gold jumps above stocks as Americans' preferred long-term investment while real estate plunges
Submitted by admin on Sat, 2023-05-13 09:00 Section: Daily DispatchesBy Filip De Mott
Insider, New York
Friday, May 12, 2023
American investment preferences have shifted in response to ongoing economic insecurities, according to a new Gallup poll.
When asked what is the best long-term investment, a plurality of respondents still said real estate, but the share sank to 34% this year from 45% last year.
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U.S. Treasury has just $88 billion of measures left to avoid debt cap
Submitted by admin on Fri, 2023-05-12 23:34 Section: Daily DispatchesBy Benjamin Purvis and Michael Mackenzie
Bloomberg News
Friday, May 12, 2023
The U.S. Treasury Department said in a statement today that it had just $88 billion of extraordinary measures to help keep the government's bills paid as of May 10.
That's down from around $110 billion a week earlier and means that just over a quarter of the $333 billion of authorized measures are still available to keep the U.S. government from running out of borrowing room under the statutory debt limit.
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Alaska House passes bill to make gold and silver legal tender
Submitted by admin on Fri, 2023-05-12 23:10 Section: Daily DispatchesBy Sean Maguire
Anchorage Daily News
Thursday, May 11, 2023
JUNEAU -- In the final days of the legislative session, the Alaska House passed a bill that would allow gold and silver to be used as legal tender.
House Bill 3, introduced by Big Lake Republican Rep. Kevin McCabe, would allow business owners to decide if they want to accept the precious metals as currency. The coin or bar would need to be refined and its value would need to be authenticated, so gold dust or nuggets could not be used.
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'Live from the Vault' reviews threats to U.S. electric grid with documentary maker David Tice
Submitted by admin on Fri, 2023-05-12 10:06 Section: Daily Dispatches10:10p SGT Friday, May 12, 2023
Dear Friend of GATA and Gold:
Kinesis Money's "Live from the Vault" program this week includes an interview by London metals trader Andrew Maguire with market expert and former fund manager David Tice about the serious threats to the electric grid in the United States, about which Tice recently made a major documentary film. The program is 49 minutes long and can be viewed at YouTube here:
AngloGold Ashanti to switch primary listing to New York
Submitted by admin on Fri, 2023-05-12 05:11 Section: Daily DispatchesBy William Langley
Financial Times, London
Friday, May 12, 2023
https://www.ft.com/content/7704382c-a8fa-4ec8-9928-88a389449fe6
Miner AngloGold Ashanti has announced plans to transfer its primary listing to New York and redomicile in the UK after winding down its South African operations to focus on other markets.
Under a plan set out today the company, which has its primary listing in Johannesburg, will keep a secondary listing there and have another in Ghana.
Alasdair Macleod: The dynamics driving the dollar down
Submitted by admin on Fri, 2023-05-12 00:32 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, May 11, 2023
This article examines the currency imbalances between U.S. dollars and the other currencies and concludes that should foreign holders decide to reduce their dollar exposure, the consequences for the dollar's value would be dramatic.
Chris Powell: How might gold price suppression policy end?
Submitted by admin on Thu, 2023-05-11 05:32 Section: Daily DispatchesThe slides accompanying this presentation can be viewed here:
https://gata.org/sites/default/files/MiningInvestmentAsia_Singapore2023-05-%20v3.pdf
* * *
SLIDE 1: TITLE
Remarks by Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Mining Investment Asia Conference
Marriott Tang Plaza Hotel, Singapore
Thursday, May 11, 2023
Craig Hemke at Sprott Money: Bullion bank trade-at-settlement abuse continues
Submitted by admin on Thu, 2023-05-11 04:51 Section: Daily Dispatches4:45p SGT Thursday, May 11, 2023
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing at Sprott Money, today updates his readers about the continuing use by bullion banks of the "trade at settlement" mechanism for controlling the gold price.
Hemke's analysis is headlined "Bullion Bank Trade-at-Settlement Abuse Continues" and it's posted at Sprott Money here:
https://www.sprottmoney.com/blog/Bullion-Bank-TAS-Abuse-Continues-May-10-2023
'Weird gold trick' -- revaluation -- may not be so weird after all
Submitted by admin on Wed, 2023-05-10 05:12 Section: Daily Dispatches5:21p SGT Wednesday, May 10, 2023
Dear Friend of GATA and Gold:
In his commentary yesterday at the Daily Reckoning, author and market analyst James G. Rickards described the "weird gold trick" by which the U.S. Treasury could conjure $500 billion from the Federal Reserve to help avert a debt ceiling shutdown. The "trick: is gold revaluation, official repricing of the U.S. gold reserve of 8,133 tonnes from the antique valuation of $42.22 per ounce to a market price of more than $2,000 per ounce.
Mexican president backs U.S. dollar as world's 'principal currency'
Submitted by admin on Tue, 2023-05-09 09:34 Section: Daily DispatchesFrom Reuters
Monday, May 8, 2023
MEXICO CITY -- Mexican President Andres Manuel Lopez Obrador gave the U.S. dollar a vote on confidence Monday after he was asked if a weakening greenback might spur a move to diversify Mexico's foreign currency reserves.
"We are going to continue considering the dollar as the world's principal currency," Lopez Obrador told a press conference.
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