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Daily Dispatches
Swiss propose referendum on nationalizing UBS
Submitted by admin on Sun, 2023-09-17 11:01 Section: Daily DispatchesBy Bastian Benrath
Bloomberg News
Sunday, September 17, 2023
A popular initiative in Switzerland wants to hold a vote on partially nationalizing UBS Group, the initiators wrote on their website.
The so-called banks initiative proposes to amend the Swiss constitution to say that "large banks of systemic importance are to be managed as joint stock companies with the confederation as majority shareholder in terms of share capital," according to the website.
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Another admission from the BIS that central banks rig the gold market
Submitted by admin on Sat, 2023-09-16 11:02 Section: Daily Dispatches11:08a Saturday, September 16, 2023
Dear Friend of GATA and Gold:
While central bank trading is a primary determinant of the price of gold and other currencies, gold market analysis seldom makes any reference to the broker that provides much camouflage for central bank gold trading: the Bank for International Settlements.
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Yvonne Blaszczyk succeeds Nick Barisheff as CEO of bullion investment house BMG Group
Submitted by admin on Fri, 2023-09-15 20:46 Section: Daily DispatchesCompany Announcement
Friday, September 15, 2023
MARKHAM, Ontario, Canada -- The Board of Directors of BMG Group Inc. announces the appointment of Yvonne Blaszczyk as interim president and chief executive officer, effective immediately. The board also announces that Nick Barisheff, the founder, president, CEO of BMG Group Inc., has had to relinquish his role for personal reasons.
Remembering monetary metals dealer Larry LaBorde
Submitted by admin on Fri, 2023-09-15 20:14 Section: Daily Dispatches8:13p ET Friday, September 15, 2023
Dear Friend of GATA and Gold:
Larry LaBorde, who died a year ago after a long career as a U.S.-based dealer in the monetary metals and writer about financial affairs, is remembered today by his son, Christopher, with a eulogy that is not just a touching tribute to his father but a wonderful essay about life and its lessons, lessons everyone might want to learn.
The eulogy is headlined "The Silver Lining Lessons from the Loss of My Father, Larry LaBorde" and it's posted at SilverSeek here:
First Majestic opens its own mint, aims to sell all silver mine production to physical market
Submitted by admin on Thu, 2023-09-14 12:09 Section: Daily DispatchesFirst Majestic Announces the Opening of a Minting Facility
Company Announcement
Thursday, September 14, 2023
VANCOUVER, British Columbia, Canada -- First Majestic Silver Corp. is pleased to announce the launch of its 100%-owned and operated minting facility, First Mint LLC.
Alasdair Macleod: Currency wars vs. gold standards
Submitted by admin on Thu, 2023-09-14 11:57 Section: Daily DispatchesBy Alasdair Macleod
Head of Research, GoldMoney, Toronto
via Schiff Gold, White Plains, New York
Thursday, September 14, 1012
Russia and the Saudis are driving up oil and diesel prices. But these moves are likely to undermine the rouble more than they undermine the dollar, euro, and other major currencies.
Therefore, higher energy prices will rebound on the Russians this winter: If they shiver in Germany, they will freeze in Russia. If the dollar is king of the fiats, the rouble is just a lowly serf.
Pam and Russ Martens: Another FDIC-insured bank teeters, its stock price down 96% in a year
Submitted by admin on Thu, 2023-09-14 11:38 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, September 14, 2023
There may be a lesson here: don’t put the word “Republic” in the name of your bank; don’t hold a lot of uninsured deposits; and don’t have wads of unrealized losses on your investment securities.
If those lessons sound familiar, it’s because they played out in stunning fashion earlier this year when the second, third and fourth largest bank failures in U.S. history occurred. ...
... For the remainder of the analysis:
Ed Steer: A surprising and ugly commitment-of-traders report, but. ...
Submitted by admin on Wed, 2023-09-13 13:07 Section: Daily Dispatches1:o5p ET Wednesday, September 13, 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 Surprising and Ugly Commitment-of-Traders Report, But. ..." and it's posted in the clear at GoldSeek's companion site, SilverSeek, here:
https://silverseek.com/article/surprising-and-ugly-cot-report
South Africa's top gold miner weighs CEO succession amid tilt to copper
Submitted by admin on Wed, 2023-09-13 12:06 Section: Daily DispatchesBy Felix Njini
Reuters
Wednesday, September 13, 2023
NAIROBI, Kenya -- Harmony Gold Mining boss Peter Steenkamp plans to retire at the end of next year as South Africa's biggest gold producer by volume seeks new growth opportunities mining copper.
Steenkamp, who turns 64 in November, has been at the helm at Harmony since returning in 2016. In 2022, the company extended the veteran gold mining executive's tenure by two years.
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For a pittance, miners can work public land but there's a push to make them pay
Submitted by admin on Tue, 2023-09-12 21:52 Section: Daily DispatchesBy Lisa Friedman
The New York Times
Tuesday, September 12, 2023
Since Ulysses S. Grant was in the White House, any company that mines gold or other metals from public land has been able to haul it away without paying a dime in royalties to the federal government.
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