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Daily Dispatches
Ambrose Evans-Pritchard: Rising wave of property defaults threatens hundreds of U.S. banks
Submitted by admin on Fri, 2023-10-27 11:02 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Friday, October 27, 2023
America's commercial property collapse is becoming a danger to the financial system.
Office blocks purchased with debt remain half empty, 18 months after the end of the pandemic. Thousands of buildings will have to be torn down. Hundreds of regional banks are sitting on crippling losses that they yet to acknowledge.
"It's a train wreck in slow motion," said Professor Stijn Van Nieuwerburgh, a property and finance expert at Columbia University.
Top gold refiner exits Swiss industry group amid sourcing dispute
Submitted by admin on Fri, 2023-10-27 10:40 Section: Daily DispatchesBy Eddie Spence
Bloomberg News
Friday, October 27, 2023
Valcambi SA has resigned from the Swiss gold refining association after a disagreement over where it sources its gold.
Ticino-based Valcambi left the Swiss Association of Precious Metal Manufacturers and Traders, which coordinates communication and lobbying on behalf of the industry and requires members to sign a code of conduct, due to "irreconcilable differences," the association said in a statement.
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Gold is outperforming stocks for the year as its war rally continues
Submitted by admin on Fri, 2023-10-27 09:52 Section: Daily DispatchesBy Joseph Adinolfi
MarketWatch, New York
Friday, October 27, 2023
It's official: Gold is outperforming the S&P 500 stock index in 2023 due to an October rally that has brought the price of an ounce of the yellow metal to the cusp of the $2,000 mark, a level it hasn't seen since May.
Metals traders attributed gold's gains to a surge in demand for hedges and safety plays following Hamas' Oct. 7 attack on Israel, which provoked a war between Israel and the group that is deemed a terrorist organization by the U.S. and European Union.
James Turk: Heading toward another U.S. government default
Submitted by admin on Tue, 2023-10-24 14:18 Section: Daily Dispatches"How did you go bankrupt?" Bill asked.
"Two ways," Mike said. "Gradually and then suddenly."
-- Ernest Hemingway, The Sun Also Rises, 1926
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By James Turk
Tuesday, October 24, 2023
The financial position of the federal government of the United States has been gradually deteriorating for decades. It is now rushing headlong to the financial tipping point that will cause it to default on its promises yet again. What kind of default will it be this time?
Robert Lambourne: A strange coincidence or the Fed's back-door intervention in Treasuries?
Submitted by admin on Tue, 2023-10-24 14:03 Section: Daily DispatchesThis dispatch is being repeated from Sunday, when e-mail trouble prevented it from reaching some subscribers.
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By Robert Lambourne
Sunday, October 22, 2023
1. Introduction
This note considers whether the developing short position in U.S. Treasury futures might be linked to the process of "Quantitative Tightening" (QT) whereby the Federal Reserve has been reducing its holdings of U.S. Treasuries and other assets since the peak reached in March 2022.
Why have all Chinese banks disappeared from the LBMA gold price auction?
Submitted by admin on Tue, 2023-10-24 09:32 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Tuesday, October 24, 2023
There has been an unprecedented departure of all the Chinese banks from the London Bullion Market Association gold price auctions.
These departures have gone uncommented by the LBMA, the Financial Conduct Authority, the mainstream media, auction administrator ICE Benchmark Administration, and by the Chinese banks themselves.
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Robert Lambourne: A strange coincidence or the Fed's back-door intervention in Treasuries?
Submitted by admin on Sat, 2023-10-21 21:20 Section: Daily DispatchesBy Robert Lambourne
Sunday, October 22, 2023
1. Introduction
This note considers whether the developing short position in U.S. Treasury futures might be linked to the process of "Quantitative Tightening" (QT) whereby the Federal Reserve has been reducing its holdings of U.S. Treasuries and other assets since the peak reached in March 2022.
Fed is only central bank still fighting gold, London metals trader Maguire says
Submitted by admin on Fri, 2023-10-20 21:13 Section: Daily Dispatches9:12p ET Friday, October 20, 2023
Dear Friend of GATA and Gold:
The Federal Reserve is the last central bank fighting the gold price, London metals trader Andrew Maguire tells Kinesis Money's Shane Morand on this week's episode of "Live from the Vault."
Maguire also reviews the major central bank interventions against gold in the last two decades.
The program is 45 minutes long and can be viewed at YouTube here:
Pam and Russ Martens: JPMorgan paid $1 billion in legal expenses in last six months ...
Submitted by admin on Fri, 2023-10-20 11:48 Section: Daily Dispatches... and is still battling hundreds of charges and legal actions on three continents
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By Pam and Russ Martens
Wall Street on Parade
Friday, October 20, 2023
At some point federal regulators, the Senate Banking Committee, and the criminal division of the U.S. Department of Justice are going to reach the same conclusion that Wall Street On Parade reached quite some time ago: JPMorgan Chase is a criminal enterprise in drag as a federally-insured bank.
To defeat U.S. sanctions, China must turn to gold, researchers say
Submitted by admin on Thu, 2023-10-19 23:48 Section: Daily DispatchesChina Weighs Options to Blunt U.S. Sanctions in a Taiwan Conflict
By Eduardo Baptista
Reuters
Thursday, October 19, 2023
BEIJING -- In a war with the United States over Taiwan, China would need to create a global network of companies under U.S. sanctions, seize American assets within its borders, and issue gold-denominated bonds, according to Chinese government-affiliated researchers studying the Western response to Russia after its invasion of Ukraine.
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