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Daily Dispatches
Maduro is using Queen Elizabeth's letters in fight over Venezuelan gold
Submitted by admin on Fri, 2022-08-05 15:10 Section: Daily DispatchesSo just have the queen send Maduro another letter, this one urging him to drop dead.
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By Samy Adghirni, Fabiola Zerpa, and Jeremy Hodges
Bloomberg News
Friday, August 5, 2022
Venezuela's government has produced letters apparently signed by Queen Elizabeth II to bolster its claim to more than $1 billion of gold stored in the Bank of England.
The diplomatic correspondence is evidence that the UK recognized Nicolas Maduro as Venezuela's president, said Calixto Ortega, the head of Venezuela's central bank.
When buying gold or silver, consider the dealers who support GATA
Submitted by admin on Thu, 2022-08-04 11:54 Section: Daily Dispatches11:51a ET Thursday, August 4, 2022
Dear Friend of GATA and Gold:
Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio.
Alasdair Macleod: Is bank credit friend or foe?
Submitted by admin on Thu, 2022-08-04 11:48 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, August 4, 2022
Advocates of sound money place much of the blame for inflation on bank credit. Do away with the creation of bank credit, they say, and the destructive cycle of boom and bust will be cured. But is this solution practical, and is it the real inflation problem?
It may be an inconvenient fact, but commodity prices prove to be far more volatile under a fiat currency regime than they ever where under sound money and fluctuations in bank credit.
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New Orleans conference returns spectacularly in October so join GATA there
Submitted by admin on Thu, 2022-08-04 11:44 Section: Daily DispatchesBy Brien Lundin
Editor, Gold Newsletter
CEO, New Orleans Investment Conference
Wednesday, July 20, 2022
As a serious investor, you’re well aware of the unique challenges presented by today’s markets.
-- Central banks -- led by the Federal Reserve -- intent to fight off rising inflation with rate hikes.
-- The markets responding with massive selloffs, sending a clear message to the Fed to lay off.
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Switzerland adopts EU sanctions on Russian gold
Submitted by admin on Thu, 2022-08-04 09:37 Section: Daily DispatchesFrom the Swiss Broadcasting Corp., Bern
Wednesday, August 3, 2022
Switzerland, a major global hub for gold, has followed the European Union in banning imports of Russian gold as part of new sanctions due to the war in Ukraine.
"The new measures primarily concern a ban on buying, importing, or transporting gold and gold products from Russia. Services in connection with these goods are also prohibited," the economics ministry wrote on Wednesday.
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Ronan Manly: LBMA silver inventories near 6-year low, falling below 1 billion ounces
Submitted by admin on Wed, 2022-08-03 10:04 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Wednesday, August 3, 2022
One trend in the precious metals markets that has yet to get widespread coverage but deserves more attention is the plummeting inventories of physical silver in the London vaults of the London Bullion Market Association.
These LBMA vaults comprise vaults in and around London run by the bullion banks JP Morgan, HSBC, and ICBC Standard Bank, as well as the London vaults of three security operators, Brinks, Malca-Amit, and Loomis, the London sub-Billion Market Association.
Another gold fund for the politically correct -- and the bullion banks
Submitted by admin on Tue, 2022-08-02 15:20 Section: Daily DispatchesSome discouraging disclosure from the company, admitting that the fund will operate just like GLD as the tool of the bullion banks:
https://www.sprott.com/media/5525/sesg-factsheet.pdf
"Shares are not individually redeemable. Investors buy and sell shares of the Sprott ESG Gold ETF on a secondary market. Only market makers or 'authorized participants' may trade directly with the fund, typically in blocks of 50,000 shares."
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Sprott Launches First ESG Gold ETF
GATA's Ed Steer discusses markets with WAAM-AM1600's Dave Janda
Submitted by admin on Tue, 2022-08-02 15:00 Section: Daily Dispatches3p ET Tuesday, August 2, 2022
Dear Friend of GATA and Gold:
GATA board member Ed Steer, publisher of Ed Steer's Gold & Silver Digest, discusses the prospects for the monetary metals markets, as well as the threat of what he calls "the new Great Depression," with talk show host Dave Janda of WAAM-AM1600 in Ann Arbor, Michigan. The interview is 24 minutes long and can be heard here:
Join GATA as the New Orleans Investment Conference returns spectacularly
Submitted by admin on Tue, 2022-08-02 14:51 Section: Daily DispatchesBy Brien Lundin
Editor, Gold Newsletter
CEO, New Orleans Investment Conference
Wednesday, July 20, 2022
As a serious investor, you’re well aware of the unique challenges presented by today’s markets.
-- Central banks -- led by the Federal Reserve -- intent to fight off rising inflation with rate hikes.
-- The markets responding with massive selloffs, sending a clear message to the Fed to lay off.
... Dispatch continues below ...
Jan Nieuwenhuijs: Turkish central bank sends gold back to London, likely to secure FX loans
Submitted by admin on Tue, 2022-08-02 14:38 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainsville Coins
Lutz, Florida
Tuesday, August 2, 2022
After having repatriated 104 tonnes from the Bank of England in 2018, the Central Bank of Turkey sent gold back to London in 2020 and 2021.
Amid economic turmoil that has been weakening the Turkish lira, the central bank is likely using its gold at Bank of England as collateral for foreign exchange loans.
Turkey's situation is reminiscent of Venezuela several years ago. ...
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