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Daily Dispatches
Australia to overhaul central bank after stumble on inflation and pandemic
Submitted by admin on Thu, 2023-04-20 11:59 Section: Daily DispatchesBy Nic Fildes
Financial Times, London
Thursday, April 20, 2023
Australia's treasurer has announced the biggest shake-up of the country's central bank in its 63-year history, proposing the establishment of a new interest rate-setting board and an overhaul of its culture.
The reforms were unveiled after a review of the Reserve Bank of Australia, the first in four decades, was launched last year following sharp criticism of its handling of interest rate guidance and slow response to rising inflation.
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Alasdair Macleod: How quickly will the U.S. dollar collapse?
Submitted by admin on Thu, 2023-04-20 10:14 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, April 20, 2023
This article looks at the factors behind the growing rejection of the dollar for trade settlement purposes by non-aligned nations. They no longer fear political or economic reprisals from America.
The dollar's monopoly was notably challenged by Saudi Arabia, which removed itself from the U.S. sphere of influence to that of China and Russia. Consequently, peace has broken out throughout the Arab lands.
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Global Times: Dollar hegemony, not China, is the cause of Africa's debt problems
Submitted by admin on Wed, 2023-04-19 20:07 Section: Daily DispatchesBy Shi Qing
Global Times, Beijing
Wednesday, April 19, 2023
Not long ago U.S. Vice President Kamala Harris visited three African countries -- Ghana, Tanzania, and Zambia. This is the fifth visit by a high-ranking Biden administration official to Africa this year.
Arkansas affirms gold and silver as legal tender and eliminates taxes on them
Submitted by admin on Wed, 2023-04-19 00:09 Section: Daily DispatchesFrom Money Metals News Service, Eagle, Idaho
Tuesday, April 18, 2023
LITTLE ROCK, Arkansas -- Sound money advocates are rejoicing as House Bill 1718, the Arkansas Legal Tender Act, has become the law in the Natural State.
Backed by the Sound Money Defense League, Money Metals Exchange, and sound money advocates and supporters throughout the state, HB 1718 reaffirms gold and silver as legal tender, as well as ending all taxes on the purchase, sale, or exchange of specie, including state capital gains taxes.
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Jan Nieuwenhuijs: Is Saudi Arabia selling oil to China for gold?
Submitted by admin on Wed, 2023-04-19 00:00 Section: Daily Dispatches11:56p Tuesday, April 18, 2023
Dear Friend of GATA and Gold (and Silver):
Gold researcher Jan Nieuwenhuijs today addresses speculation, for which there is limited evidence, that Saudi Arabia is surreptitiously selling oil to China in exchange for gold from the Shanghai international exchange.
Nieuwenhuis' analysis is headlined "Is Saudi Arabia Selling Oil to China for Gold?" and it's posted at the Gainesville Coins internet site here:
Craig Hemke at Sprott Money: Comex gold options sweet spot
Submitted by admin on Tue, 2023-04-18 23:48 Section: Daily Dispatches11:50p Tuesday, April 18, 2023
Dear Friend of GATA and Gold (and Silver):
Working from the assumption that the Comex gold and silver futures markets are largely rigged by the positioning of big options traders, the TF Metals Report's Craig Hemke today tries predicting where that rigging will place gold and silver prices next Tuesday when options on the June contracts expire.
Hemke's analysis is headlined "Comex Gold Options Sweet Spot" and it's posted at Sprott Money here:
Ronan Manly: JPMorgan traders appeal, claiming that their 'spoofing' hurt no one
Submitted by admin on Mon, 2023-04-17 12:19 Section: Daily Dispatches12:19p Monday, April 17, 2023
Dear Friend of GATA and Gold (and Silver):
Bullion Star gold researcher Ronan Manly reports today that the former JPMorganChase gold and silver futures traders convicted of "spoofing" the markets are appealing their convictions by asserting that their "spoofing" did no actual harm, though it generated misleading prices on which the world traded. Manly's report is headlined "JPMorgan Gold Traders Show Contempt for the Law, Plan to Appeal their Convictions" and it's posted at Bullion Star here:
Swiss-owned company's Russian gold trades expose gap in Western sanctions
Submitted by admin on Mon, 2023-04-17 10:30 Section: Daily DispatchesBy Harry Dempsey and Chris Cook
Financial Times, London
Monday, April 17, 2023
A Swiss commodity trader's Abu Dhabi subsidiary has been able to buy tens of millions of dollars of Russian gold despite a ban on Swiss entities undertaking such activity, the latest evidence of a gap in Western sanctions against Moscow.
Penny keeps proclaiming currency devaluation
Submitted by admin on Sun, 2023-04-16 16:32 Section: Daily DispatchesNot a Penny More: The Time to Abolish the U.S. Coin Has Come
By Sam Learner
Financial Times, London
Sunday, April 16, 2023
They pile up in drawers. They're taken or left on a whim at store counters. Vending machines and parking metres won't accept them. And last year they cost the U.S. Treasury $100 million more to produce than they're worth. Despite all this, the penny -- America's copper-plated 1-cent coin -- persists.
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Yellen says sanctions may risk U.S. dollar's hegemony
Submitted by admin on Sun, 2023-04-16 16:18 Section: Daily DispatchesFrom Agence-France Presse
via Al Arabiya, Dubai
Sunday, April 16, 2023
Economic sanctions imposed on Russia and other countries by the United States put the dollar's dominance at risk as targeted nations seek an alternative, Treasury Secretary Janet Yellen said today.
"There is a risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar," Yellen said on CNN.
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