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Daily Dispatches
Nigeria can be another African gold powerhouse
Submitted by admin on Tue, 2023-10-10 23:28 Section: Daily DispatchesBy Oluwatomisin Amokeoja
Forbes / Forbes Africa, Jersey City, New Jersey
Tuesday, October 10, 2023
According to Statista's second-quarter report, Nigeria has secured the sixth spot among the top 10 African countries with the most substantial gold reserves.
At the forefront of West Africa, Nigeria boasts of 21.37 metric tons of gold reserves, valued at $1 billion -- resources considered by analysts as part of Nigeria's broader economic strategy to fortify foreign exchange reserves and decrease dependence on oil exports.
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In GoldSeek Radio interview, GATA chairman discusses prospects for monetary metals
Submitted by admin on Mon, 2023-10-09 19:43 Section: Daily Dispatches7:42p ET Monday, October 9, 2023
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy and GoldSeek Radio's Chris Waltzek today discuss the prospects for the monetary metals amid rising debt and interest rates and the possibility that the Federal Reserve will stop raising rates. The interview is 14 minutes long and can be heard at Goldseek here:
https://goldseek.com/article/goldseek-radio-nugget-bill-murphy-gold-cartel-price-manipulation
TRX Gold pays tribute to its founder and chairman Jim Sinclair
Submitted by admin on Mon, 2023-10-09 10:17 Section: Daily DispatchesTRX Gold Announces Passing of Founder and Chairman James E. Sinclair
Company Announcement
Monday, October 9, 2023
Ed Steer's weekend review posted in the clear at SilverSeek
Submitted by admin on Sun, 2023-10-08 11:51 Section: Daily Dispatches11:51a ET Sunday, October 7, 2023
Dear Friend of GATA and Gold (and Silver):
The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "A COT Report Certainly Worth Framing" and it's posted in the clear at GoldSeek's companion site, SilverSeek, here:
https://silverseek.com/article/cot-report-certainly-worth-framing
Gold premiums in Moscow and Shanghai will bust Comex, Maguire says
Submitted by admin on Sat, 2023-10-07 23:45 Section: Daily Dispatches11:45p ET Saturday, October 7, 2023
Dear Friend of GATA and Gold:
Kinesis Money's "Live from the Vault" program this week has London metals trader Andrew Maguire asserting that substantial premiums for gold in the Moscow and Shanghai markets continue to draw bullion out of the West, where the gold price is suppressed by official policy, and eventually will bust the New York Commodities Exchange's gold futures business. Maguire adds that speculators now are the big shorts in gold futures and that all major bullion banks have gone long.
Jim Sinclair, the 'Mister Gold' of the United States, dies at 82
Submitted by admin on Fri, 2023-10-06 20:45 Section: Daily Dispatches8:47p ET Friday, October 6, 2023
Dear Friend of GATA and Gold:
James E. Sinclair, long the "Mister Gold" of the United States -- an advocate of gold as money, a gold market maker, a gold mining company founder, and an internationally known commenter on the markets -- died of a heart attack today, his business associate, Bill Holter, confirmed to GATA. He was 82.
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Prohibit gold mining? Totalitarians would love that
Submitted by admin on Fri, 2023-10-06 20:06 Section: Daily Dispatches8:19p ET Friday, October 6, 2023
Dear Friend of GATA and Gold:
Toronto's Glode and Mail today published a long essay by Christopher Pollon, a Vancouver-based journalist who focuses on the mining industry, arguing for prohibiting gold mining on account of the environmental damage it often does.
Toward the end of his essay Pollon acknowledges gold's monetary function but suggests that it could be sustained by digitizing unmined gold from certified reserves, creating another sort of digital currency like bitcoin.
Ambrose Evans-Pritchard: Why the Fed will again have to slash rates to zero and relaunch QE
Submitted by admin on Fri, 2023-10-06 10:53 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Friday, October 6, 2023
The U.S. economic expansion is being kept afloat only by extreme fiscal stimulus and war-time deficits, an astonishing state of affairs at the top of the cycle.
The federal government is unable to fund this scale of borrowing from U.S. domestic savings, and global creditors are no longer willing to fund it either at bearable cost.
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Pam and Russ Martens: Despite Citibank's record bailout in 2008, 85.5% of its deposits lack FDIC insurance
Submitted by admin on Thu, 2023-10-05 11:35 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, October 5, 2023
As evidenced by the speech that the chairman of the Federal Deposit Insurance Corp., Martin Gruenberg, delivered at a conference yesterday, the FDIC is very much aware that both the level of uninsured deposits and the concentration of those uninsured deposits among a handful of mega banks is a serious problem for the U.S. banking system.
Gruenberg didn't name names, but we will do that in this article.
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Alasdair Macleod: Unwinding the financial system
Submitted by admin on Thu, 2023-10-05 11:25 Section: Daily DispatchesBy Alasdair Macleod
Head of Research, GoldMoney, Toronto
via Schiff Gold, White Plains, New York
Thursday, October 5, 2023
This article looks at the collateral side of financial transactions and some significant problems that are already emerging.
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