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Daily Dispatches

Jan Nieuwenhuijs: Poland's central bank buys gold in accordance with secret EU plan

Section: Daily Dispatches

By Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Monday, December 4, 2023

The Polish central bank has bought roughly 300 tonnes of gold in recent years to bring its gold-gross national product ratio in line with the average in the eurozone. 

For medium and large economies in the eurozone, in which Poland might be included in the future, an equal monetary gold-to-GDP ratio is a covert requirement for nations to be prepared for a shift to a new gold standard. Based on these requirements I expect Poland to buy an additional 130 tonnes of gold.

Zimbabwe monetizes its platinum, sort of

Section: Daily Dispatches

Zimbabwe Uses Platinum to Pay $400 Million Afrexim Bank Debt

By Ray Ndlovu
Bloomberg News
Monday, December 4, 2023

Zimbabwe is using the proceeds of its platinum exports to settle a $400 million loan from the African Export-Import Bank as the indebted nation turns to its mineral wealth to open lines of credit.

NY Fed refuses to say if it been repatriating or intervening in gold

Section: Daily Dispatches

Can you help us get the answers?

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10:35a ET Saturday, December 2, 2023

Dear Friend of GATA and Gold:

With repeated telephone calls and e-mails, for three weeks your secretary/treasurer has been trying to get the Federal Reserve Bank of New York to answer two simple questions about its gold responsibilities -- questions the New York Fed has answered for others in years past -- but has been unable to get any form of acknowledgment.

Would you be kind enough to help?

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LFTV: Gold reset is imminent but will it be coordinated or weaponized?

Section: Daily Dispatches

9:12p ET Friday, December 1, 2023

Dear Friend of GATA and Gold:

Will the coming reset of the gold price be coordinated among central banks or weaponized by some of them, and what will be its effect on the New York Commodities Exchange, the primary venue of price rigging?

London metals trader Andrew Maguire offers answers to those questions in this week's episode of Kinesis Money's "Live from the Vault" program hosted by Shane Morand.

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LME vindicated for cancelling nickel trades; Comex must feel relief

Section: Daily Dispatches

LME Triumphs in Lawsuit Over Cancelled Nickel Trades

By Sam Tobin and Pratima Desai
Reuters
Wednesday, November 29, 2023

LONDON -- The London Metal Exchange won Wednesday a legal battle with U.S. financial firms that brought a case demanding $472 million in compensation after the exchange cancelled billions of dollars in nickel trades last year following a surge in prices.

No, gold market manipulation didn't end in 2008

Section: Daily Dispatches

5:11p ET Tuesday, November 28, 2023

Dear Friend of GATA and Gold:

Gold advocate John Rubino writes this month that the gold market used to be manipulated by Wall Street traders "spoofing" the futures market, by commercial fabricators trying to trick hedge funds and other speculators in the futures market, and by Western central banks lending gold to bullion banks so they would sell it into the market to depress the price and thereby defend government currencies against competition from the monetary metal.

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Watch the New Orleans conference at home while helping GATA too

Section: Daily Dispatches

5p ET Monday, November 27, 2023

Dear Friend of GATA and Gold:

You missed a lot if you didn't attend the New Orleans Investment Conference this month -- a great city renovating itself, wonderful restaurants, refreshing weather, people who make hospitality a way of life, and, of course, financial commentary from some great minds. (Oh, well, GATA's too.)

Just how bad is the U.S. cost-of-living squeeze? We did the math

Section: Daily Dispatches

By Reade Pickert and Jennah Haque
Bloomberg News
Monday, November 27, 2023

After years of inflation, U.S. consumers are shouldering a burden unlike anything seen in decades -- even as the pace of price increases has slowed.

It now requires $119.27 to buy the same goods and services a family could afford with $100 before the pandemic. Since early 2020, prices have risen about as much as they had in the full 10 years preceding the health emergency.

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Kinesis Money's Andrew Maguire interviews GATA Chairman Bill Murphy

Section: Daily Dispatches

11:30a ET Friday, November 24, 2023

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy joins London metals trader Andrew Maguire and host Shane Morand on this week's edition of Kinesis Money's "Live from the Vault" program, discussing GATA's formation and work over the last quarter century.

Murphy explains why he was censored long before "cancel culture," how the silver market is manipulated just as the gold market is, and the potential consequences of the manipulations and their failure.

Burkina Faso begins construction of its first gold refinery

Section: Daily Dispatches

From Agence France-Presse
via Barron's, New York
Thursday, November 23, 2023

Burkina Faso's junta-led government today launched the construction of the country's first refinery for gold, Burkina's main mineral resource, an AFP journalist said.

The refinery will have a production capacity of around 400 kilograms (880 pounds) of gold per day, according to Ismael Siby, CEO of the refinery's co-managing company, Marena Gold.

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