GATA

Has the lost Island of Gold been found?

Section: Daily Dispatches

By Nick Enoch
Daily Mail, London
Saturday, October 23, 2021

The site of a fabled Indonesian kingdom renowned for its golden treasures may finally have been discovered on Sumatra, known as the Island of Gold.

For the past five years, fishermen exploring the crocodile-infested Musi River, near Palembang, have hauled a staggering treasure trove from the depths -- including gemstones, gold ceremonial rings, coins, and bronze monks' bells.

Robert Lambourne: Small decline in BIS gold swaps in August

Section: Daily Dispatches

By Robert Lambourne
Saturday, October 23, 2021

The recently released September statement of account of the Bank for International Settlements -

https://www.bis.org/banking/balsheet/statofacc210930.pdf

— contains information suggesting a decrease of about 26 tonnes in the bank's gold swaps during August, from 464 tonnes to 438 tonnes.

This compares to the record high estimated at 552 tonnes as of February this year.

Interviewing Ron Paul, even Daniela Cambone marvels at gold's failure to reflect inflation

Section: Daily Dispatches

10:55p CT Friday, October 22, 2021

Dear Friend of GATA and Gold:

Is there anyone left who can't see or strongly suspect government gold price suppression policy, even if many people still can't acknowledge it?

In an interview this week with former U.S. Rep. Ron Paul, even Daniela Cambone of Stansberry Research, formerly of Kitco News, marveled at gold's failure to reflect the inflation exploding all around her. She asked Paul whether the government is suppressing the gold price.

Serbia vows to boost gold reserves as China's Zijin opens mine

Section: Daily Dispatches

By Misha Savic
Bloomberg News
Friday, October 22, 2021

Serbia plans to boost its gold reserves from an already record-high 37 tons to prepare for challenges such as the energy crisis rattling Europe, President Aleksandar Vucic said.

The National Bank of Serbia may buy gold at the "most favorable prices" from the local units of China-based Zijin Mining Group, Vucic said at the opening of the company's new Cukaru Peki high-grade copper and gold mine. ...

... For the remainder of the report:

Fed to ban policymakers from owning individual stocks, restrict trading following controversy

Section: Daily Dispatches

By Jeff Cox
CNBC, New York
Thursday, October 21, 2021

Responding to a growing controversy over investing practices, the Federal Reserve announced Thursday a wide-ranging ban on officials owning individual stocks and bonds and limits on other activities as well.

The ban includes top policymakers such as those who sit on the Federal Open Market Committee, along with senior staff. Future investments will have to be confined to diversified assets such as mutual funds.

... Dispatch continues below ...

Deutsche Bank whistleblower gets $200 million record reward for exposing LIBOR rigging

Section: Daily Dispatches

By Stefania Palma and Neil Hume
Financial Times, London
Friday, October 22, 2021

The Commodity Futures Trading Commission has awarded almost $200 million to a former Deutsche Bank employee who raised concerns about the manipulation of the Libor interest rate benchmark, marking the largest-ever payment under U.S. whistleblower programmes.

The U.S. derivatives regulator said the payment had been made for "timely original information" that significantly contributed to an already "open investigation."

... Dispatch continues below ...

Asante