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Daily Dispatches
The UK's crisis of confidence was years in the making
Submitted by admin on Thu, 2022-09-29 11:24 Section: Daily DispatchesBy Philip Aldrick, Libby Cherry, and David Goodman
Bloomberg News
via Yahoo News, Sunnyvale, California
Thursday, September 29, 2022
Britain is in a self-inflicted financial crisis, years in the making, that threatens to accelerate the economy’s dive into recession — and the country’s new prime minister is coming under intense pressure to blink.
China's state banks told to stock up for yuan intervention
Submitted by admin on Thu, 2022-09-29 11:02 Section: Daily DispatchesBy Julie Zhu
Reuters
Thursday, September 29, 2022
HONG KONG -- China's central bank has asked major state-owned banks to be prepared to sell dollars for the local unit in offshore markets as it steps up efforts to stem the yuan's descent, four sources with knowledge of the matter said.
State banks were told to ask their offshore branches, including those based in Hong Kong, New York and London, to review their holdings of the offshore yuan and ensure U.S. dollar reserves are ready to be deployed, three of the sources, who declined to be identified, told Reuters.
Alasdair Macleod: Kwarteng and a job half done
Submitted by admin on Thu, 2022-09-29 10:53 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, September 29, 2022
Following the new Kwarteng/Truss economic policies revealed in last week’s mini budget for the United Kingdom, the widespread condemnation is a reflex Keynesian response from a world that has become hostage to erroneous economic and monetary groupthink in its major institutions.
Lawrie Williams: Gold fulfills expectations in the U.K. and elsewhere if not the U.S.
Submitted by admin on Wed, 2022-09-28 13:52 Section: Daily DispatchesBy Lawrie Williams
SharpsPixley.com, London
Tuesday, September 27, 2022
If one reads all the headlines about gold, one could be forgiven for thinking that 2022 has been a pretty disastrous year for those banking on the yellow metal to preserve their wealth.
Craig Hemke at Sprott Money: Crash watch becomes crash warning
Submitted by admin on Tue, 2022-09-27 21:01 Section: Daily Dispatches9p ET Tuesday, September 27, 2022
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing tonight at Sprott Money, says the stock market crash the Federal Reserves seems to be determined to induce will crash gold and all asset prices in a "liquidity squeeze" before the Fed reverses course on interest rates.
Hemke's analysis is headlined "Crash Watch Becomes Crash Warning" and it's posted at Sprott Money here:
Dave Kranzler: Paper vs. physical and why the monetary metals should rally
Submitted by admin on Mon, 2022-09-26 20:06 Section: Daily DispatchesBy Dave Kranzler
Investment Research Dynamics, Denver
Monday, September 26, 2022
GoldSeek Radio's Chris Waltzek interviews GATA Chairman Bill Murphy
Submitted by admin on Mon, 2022-09-26 19:22 Section: Daily Dispatches7:21p ET Monday, September 26, 2022
Dear Friend of GATA and Gold (and Silver):
Interviewed by GoldSeek Radio's Chris Waltzek, GATA Chairman Bill Murphy says the daily bombardment of the gold and silver futures
markets has destroyed investor interest in the monetary metals sector. When and if the gold and silver cartels exhaust their supply of real metal needed to control the futures markets, Murphy says, prices will explode.
The interview is 19 minutes long and can be heard at GoldSeek Radio here:
Pound falls again as Bank of England rules out emergency rate hike
Submitted by admin on Mon, 2022-09-26 12:10 Section: Daily DispatchesBy James Warrington, Tom Rees, and Matt Oliver
The Telegraph, London
Monday, September 26, 2022
The governor of the Bank of England has ruled out an emergency rate rise following a rout in the pound.
In a statement just minutes after a separate one by Kwasi Kwarteng, the chancellor, Andrew Bailey said the bank's monetary policy committee "will not hesitate to change interest rates by as much as needed" to bring inflation under control.
... Dispatch continues below ...
Bank of England prepares emergency intervention as pound slumps to all-time low
Submitted by admin on Mon, 2022-09-26 10:19 Section: Daily DispatchesBy James Warrington,Tom Rees, and Matt Oliver
The Telegraph, London
Monday, September 26, 2022
The Bank of England is understood to be preparing an intervention after the pound crashed to an all-time low against the dollar.
The Bank is expected to issue a statement as soon as today amid mounting pressure on Governor Andrew Bailey for an intervention to help shore up the economy.
... Dispatch continues below ...
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Ghana's central bank to buy another 125,000 oz. of domestic gold by year-end
Submitted by admin on Sun, 2022-09-25 11:00 Section: Daily DispatchesFrom the Ghana News Agency
via PeaceFM, Accra
Saturday, September 24, 2022
Gold-producing member companies of the Ghana Chamber of Mines will, by December 2022, sell about 125,000 ounces of gold to the Bank of Ghana under the central bank's Domestic Gold Purchase Programme.
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