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Daily Dispatches
William Pesek: China's gold stockpiling is a warning sign on dollar
Submitted by admin on Thu, 2022-11-24 08:26 Section: Daily DispatchesBy William Pesek
Asia Times, Hong Kong
Thursday, November 24, 2022
TOKYO -- One of the worst-kept secrets in global central banking is the extent to which Chinese officials are swapping dollars for gold.
Governor Yi Gang's team at the People's Bank of China isn't admitting as much. The PBOC doesn't have to, though, given the clear policy trajectory Chinese leader Xi Jinping has pursued in recent years: internationalizing of the yuan as the top rival to the dollar.
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Craig Hemke at Sprott Money: Comex fun and games
Submitted by admin on Wed, 2022-11-23 20:38 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, November 22, 2022
From time to time, we like to update you on the scale and scope of two arcane Comex systems that The Banks like to regularly abuse for profit. Let's do so again today.
Let's start with the "exchange for physical" (EFP) process that The Banks have abused for years as they arbitrage the difference between the spot and futures prices.
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Rare gold coins reveal new Roman emperor
Submitted by admin on Wed, 2022-11-23 20:11 Section: Daily DispatchesBy Aylin Woodwar
The Wall Street Journal
Wednesday, November 23, 2022
A new analysis of rare Roman coins said to have been unearthed more than three centuries ago but long dismissed as forgeries provides compelling evidence that the gold pieces are authentic -- and that the crown-wearing man whose likeness appears on one of them was a real historical figure who ruled as a Roman emperor almost 2,000 years ago.
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How Celtic gold heist in Germany unfolded in just 9 minutes
Submitted by admin on Wed, 2022-11-23 20:04 Section: Daily DispatchesBy Frank Jordans
Associated Press
Wednesday, November 23, 2022
BERLIN -- Thieves who broke into a southern German museum and stole hundreds of ancient gold coins got in and out in nine minutes without raising the alarm, officials said today, in a further sign that the heist was the work of organized criminals.
Police have launched an international hunt for the thieves and their loot, consisting of 483 Celtic coins and a lump of unworked gold that were discovered during an archeological dig near the present-day town of Manching in 1999.
China thought to be stockpiling gold to cut dependence on U.S. dollar
Submitted by admin on Mon, 2022-11-21 22:39 Section: Daily DispatchesBy Munemasa Horio
Nikkei Asia, Tokyo
Tuesday, November 22, 2022
TOKYO -- Central banks are snapping up gold this year, but it is uncertain which ones are behind most of that shopping spree, fueling speculation that China is a big player.
Seeing how Russia has been hit by monetary sanctions by the West, China and some other countries must be hurrying to reduce dependence on the dollar, analysts reckon.
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Another day, another cryptocurrency fraud
Submitted by admin on Mon, 2022-11-21 22:02 Section: Daily DispatchesTwo Estonians Arrested in $575 Million Crypto Fraud and Money-Laundering Scheme
By Kanishka Singh
Reuters
Monday, November 21, 2022
WASHINGTON -- Two Estonian citizens were arrested in Tallinn, Estonia, on an 18-count indictment for their alleged involvement in a $575 million cryptocurrency fraud and money laundering conspiracy, the U.S. Justice Department said today.
Pam and Russ Martens: FTX's casualties include federally insured banks
Submitted by admin on Mon, 2022-11-21 10:24 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, November 21, 2022
On August 1 this year, we penned this headline at Wall Street On Parade: "Brace Yourself for Federally-Insured Bank Failures Caused by Crypto."
Our research for that article was so stomach-churning and frightening that we emailed the article to key staff for the senators who sit on the Senate Banking Committee.
One of the banks we researched for that article was Silvergate Bank. ...
... For the remainder of the report:
Closing of BIS gold leases shows revaluation is near, Maguire says
Submitted by admin on Fri, 2022-11-18 20:39 Section: Daily Dispatches8:42p ET Friday, November 18, 2022
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, interviewed by Shane Morand for this week's "Live from the Vault" program for Kinesis Money, says the closing of the gold lease positions of the Bank for International Settlements --
https://www.gata.org/node/22286
-- shows that central banks and bullion banks are now heavily long gold and ready for the monetary metal's upward revaluation, which he expects at the turn of the year.
Congress can restore the integrity of the dollar
Submitted by admin on Fri, 2022-11-18 19:14 Section: Daily DispatchesBy David Brat and Alexander William Salter
The Hill, Washington
Friday, November 18, 2022
All government agencies try to maximize power and minimize accountability, but the Federal Reserve is in a league of its own.
What began as a quasi-public clearinghouse with the limited function of stopping bank runs has evolved into a monetary-regulatory behemoth. Its sphere of influence has grown despite its failures, of which 40-year-high inflation is the most recent but by no means the worst.
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Silver heads for biggest deficit in decades, Silver Institute says
Submitted by admin on Fri, 2022-11-18 10:01 Section: Daily DispatchesBy Peter Hobson
Reuters
Friday, November 18, 2022
LONDON -- Global demand for silver is expected to rise 16% this year to 1.21 billion ounces, creating the biggest deficit in decades, according to the Silver Institute said Thursday.
Use of silver by industry, for jewellery and silverware, and for bars and coins for retail investors were all forecast to reach record levels, the institute said.
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