Daily Dispatches

J.P. Koning: How much U.S. currency is held overseas?

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9:42p ET Wednesday, July 3, 2019

Dear Friend of GATA and Gold:

Trying to calculate how many U.S. dollars are circulating outside the United States, Bullion Star monetary historian J.P. Koning deduces that the country's greatest export is simply Federal Reserve notes, and the trade is highly profitable to Americans.

Trump tweet puts him at odds with his Fed nominee, Judy Shelton

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By Victoria Guida
Politico, Washington, D.C.
Wednesday, July 3, 2019

President Donald Trump's call today for the United States to manipulate its currency to boost exports is in direct conflict with the long-held view of at least one key scholar: his newest pick for the Federal Reserve board, Judy Shelton.

Treasury should tell President Trump that U.S. already manipulates the currency markets

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Dollar Dips After Trump Says U.S. Should Play 'Currency Manipulation Game' Like Europe, China

By Thomas Franck
CNBC, New York
Wednesday, July 3, 2019

The greenback fell today after President Donald Trump said in a tweet that the U.S. should match China and Europe’s "currency manipulation game."

Hugo Salinas Price: How to truly MAGA

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5:17p ET Wednesday, July 3,2019

Dear Friend of GATA and Gold:

In seeking devaluation of the dollar, Hugo Salinas Price of the Mexican Civic Association for Silver writes today, President Trump seems not to notice what a huge advantage accrues to the United States by virtue of the dollar's use as the world reserve currency.

Russia encouraging gold exports -- to ease the squeeze?

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Russian Central Bank Lowered Its Gold Purchase Price to Encourage Exports, Governor Says

By Andrey Ostroukh and Elena Fabrichnaya
Reuters
Wednesday, July 3, 2019

MOSCOW -- Russia's central bank has been buying gold on the domestic market at less than the industry benchmark to encourage Russian producers to export more of the metal, the governor told Reuters.

Craig Hemke at Sprott Money: Gold futures contract supply is virtually infinite

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10:12p ET Wednesday, July 3, 2019

Dear Friend of GATA and Gold:

Amid the surprising recent rally in gold prices, Craig Hemke of the TF Metals Report, writing at Sprott Money, today cautions monetary metals investors about the nature of the gold futures markets, which are controlled by bullion banks with access to the infinite money of central banks.

Central banks, bullion banks losing control of gold, GATA chairman says

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10:38p ET Tuesday, July 2, 2019

Dear Friend of GATA and Gold:

Interviewed today for Silver Doctors, GATA Chairman Bill Murphy says central banks and their agent bullion banks seem to be losing control of the gold market, but silver remains under their thumb. The interview is 21 minutes long and can be heard at YouTube here:

https://www.youtube.com/watch?v=EJIev1Or5To&t=59s

Short squeeze in gold has begun and has long way to go, Turk tells KWN

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10:20p ET Tuesday, July 2, 2019

Dear Friend of GATA and Gold:

GoldMoney founder and GATA consultant James Turk tells King World News tonight that the short squeeze in gold has begun and has a long way to go:

https://kingworldnews.com/james-turk-the-real-gold-short-squeeze-is-now-...

CHRIS POWELL, Secretary/Treasurer

IMF's Lagarde tapped to head ECB as EU reaches deal on top jobs

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By Alex Barker, Michael Peel, Jim Brunsden, and Mehreen Khan
Financial Times, London
Tuesday, July 2, 2019

European leaders have agreed a deal to fill the EU's most important jobs, backing Christine Lagarde to lead the European Central Bank and Ursula von der Leyen to be president of the European Commission.

Trump picks two Fed nominees likely to support lowering rates

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By Josh Wingrove and Rich Miller
Bloomberg News
Tuesday, July 2, 2019

After a year-long assault on the Federal Reserve and its chairman, President Donald Trump has tapped two wildly different economists to the central bank's board who seemingly have one important thing in common.

They're both likely to support the president's call for lower interest rates.

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