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Daily Dispatches
Top official gold seller in first half of 2024 is big U.S. ally
Submitted by admin on Wed, 2024-09-25 15:13 Section: Daily DispatchesPhilippines Tops World Gold Sales in First Half of 2024
By Ian Laqui
Philippine Star, Manila
Thursday, September 26, 2024
MANILA -- The Bangko Sentral ng Pilipinas disclosed that it sold gold during the first half of the year, following a report identifying the central bank as the largest precious metal seller for that period.
In a statement, the central bank said the gold sales were part of an "active management strategy" of the country's gold reserves, which form a portion of the Philippines' gross international reserves.
Gold suppression policy is blown, GATA's Ed Steer tells talk radio's Dave Janda
Submitted by admin on Wed, 2024-09-25 12:46 Section: Daily Dispatches12:50p ET Wednesday, September 25, 2024
Dear Friend of GATA and Gold:
Interviewed last week by talk radio host Dave Janda on WAAM-AM1600 in Ann Arbor, Michigan, GATA board member Ed Steer, publisher of Ed Steer's Gold and Silver Digest letter, said the U.S. and international economies are in their most fragile condition ever, being supported only by frantic creation of money by governments and central banks.
Ambrose Evans-Pritchard: Groundswell builds for massive Chinese stimulus but today wasn't real thing
Submitted by admin on Tue, 2024-09-24 22:07 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, September 24, 2024
China urgently needs a stimulus of shock-and-awe proportions, backed by a deep cleansing of its broken banks along the lines of America's "TARP" (Troubled Asset Relief Program) rescue in 2008. The latest package announced today falls far short.
50 years after 'show audit,' status of U.S. gold reserve remains in doubt
Submitted by admin on Mon, 2024-09-23 22:28 Section: Daily Dispatches10:32p ET Monday, September 23, 2024
Dear Friend of GATA and Gold:
The Sound Money Defense League's policy assistant, Matthew Cortez, notes that today is the 50th anniversary of the U.S. Treasury Department's public relations stunt at Fort Knox in Kentucky, wherein a few gold bars in one of the bullion depository's 15 vault compartments were shown to members of Congress and some journalists.
Jan Nieuwenhuis: Nations in mBridge project are stockpiling gold, driving up price
Submitted by admin on Mon, 2024-09-23 19:05 Section: Daily DispatchesBy Jan Nieuwenhuis
Money Metals Exchange, Eagle, Idaho
Monday, September 23, 2024
Countries that participate in the novel cross-border payments system mBridge are each hoarding gold and are largely responsible for the bull market of the past two years.
How and when the global dollar standard will disintegrate is hard to predict, but setting up a non-dollar payments system (mBridge) and aggressively accumulating gold to replace U.S. Treasuries as the prime international reserve asset is a potent strategy to de-dollarize.
Are federally insured banks trading monetary metals derivatives for the government?
Submitted by admin on Mon, 2024-09-23 11:39 Section: Daily Dispatches11:41a ET Monday, September 23, 2024
Dear Friend of GATA and Gold:
In their report today at Wall Street on Parade, Pam and Russ Martens marvel at the increasing amount of stock, foreign exchange, and derivatives trading that has been moved into federally insured banks by Wall Street megabanks, federally insured banks that hold most deposits for ordinary Americans.
The Martenses also marvel at the explosion of monetary metals derivatives trading by federally insured banks. They write:
Financial Times discovers that the Federal Reserve serves only the banking industry
Submitted by admin on Sun, 2024-09-22 10:03 Section: Daily DispatchesFed's High-Rates Era Handed $1 Trillion Windfall to U.S. banks
By Stephen Gandel and Joshua Franklin
Financial Times, London
Sunday, September 22, 2024
U.S. banks made a $1 trillion windfall from the Federal Reserve's 2 1/2-year era of high interest rates, an analysis of official data by the Financial Times has found.
Lenders got higher yields for their deposits at the Fed but kept rates lower for many savers, the review of Federal Deposit Insurance Corp. data showed. The boost to the U.S.'s more than 4,000 banks has helped pad out profit margins.
U.S. gold suppression policy has been figured out and isn't working anymore, Maguire tells LFTV
Submitted by admin on Sat, 2024-09-21 08:40 Section: Daily Dispatches8:38a ET Saturday, September 21, 2024
Dear Friend of GATA and Gold:
Central banks not aligned with the United States have figured out U.S. gold price suppression policy and are blowing it away with steady purchases of physical gold, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program with Shane Morand.
Mitch Daniels: 'The day the dollar died' is coming, so what's the plan?
Submitted by admin on Fri, 2024-09-20 08:17 Section: Daily DispatchesBy Mitch Daniels
The Washington Post
Friday, September 20, 2024
https://www.washingtonpost.com/opinions/2024/09/19/national-debt-disaster-plan-conference/
Record imports by India help drive gold rally
Submitted by admin on Fri, 2024-09-20 08:00 Section: Daily DispatchesThe Indian government's jettisoning its longstanding hostility to gold is a major indicator of dramatically changing times for the monetary metals.
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By Leslie Hook and Chris Kay
Financial Times, London
Thursday, September 19, 2024
A surge in demand among Indian consumers for gold jewellery and bars after a recent cut to tariffs is helping to drive global bullion prices to a series of fresh highs.
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