Bloomberg details how commodity fraud works but of course omits gold
Submitted by admin on Wed, 2022-08-17 11:43 Section: Daily Dispatches"Overpledging" goes far beyond copper trading.
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Why Metals Keep Going Missing in Commodity Trading
From Bloomberg News
Tuesday, August 16, 2022
A group of Chinese traders discovered in August that a copper merchant in northern China wasn't holding the half a billion dollars' worth of ore that was meant to be their collateral. This followed an episode in June involving missing aluminum.
Craig Hemke at Sprott Money: The convicted criminals of JPMorgan
Submitted by admin on Tue, 2022-08-16 21:07 Section: Daily Dispatches9:25p ET Tuesday, August 16, 2022
Dear Friend of GATA and Gold:
Writing tonight at Sprott Money, Craig Hemke of the TF Metals Report notes the inability of the U.S. Commodity Futures Trading Commission to discover the manipulation of the gold and silver markets for which the U.S. Justice Department just achieved conviction of two former traders at bullion bank JPMorganChase.
Russian government plans to 'break the LBMA monopoly' on gold
Submitted by admin on Tue, 2022-08-16 11:30 Section: Daily DispatchesTreasury Proposes to Create Alternative to the London Precious Metals Standard
From Vzglyad
Institute for Socio-Economic and Political Studies, Moscow
Thursday, July 28, 2022
Via Google Translator
https://vz.ru/amp/news/2022/7/28/1169741.html
A new international standard for the precious metals market, the Moscow World Standard (MWS), should be created to become an alternative to the standard of the London Bullion Market Association (LBMA), the Russian Finance Ministry said.
The New Orleans conference is back in a big way, so join GATA there
Submitted by admin on Sun, 2022-08-14 22:10 Section: Daily DispatchesBy Brien Lundin
Editor, Gold Newsletter
CEO, New Orleans Investment Conference
Wednesday, July 20, 2022
As a serious investor, you’re well aware of the unique challenges presented by today’s markets.
-- Central banks -- led by the Federal Reserve -- intent to fight off rising inflation with rate hikes.
-- The markets responding with massive selloffs, sending a clear message to the Fed to lay off.
... Dispatch continues below ...
Nine in 10 Bank of England staffers get bonuses as inflation soars
Submitted by admin on Sun, 2022-08-14 19:12 Section: Daily DispatchesBy Laura Onita
The Telegraph, London
Sunday, August 14, 2022
Nine in 10 employees at the Bank of England were handed bonuses last year even as inflation soared beyond its 2% target.
A total of 4,263 workers, accounting for about 90% of its workforce, received a bonus last year, disclosures show. The highest payouts were between L15,000 and L20,000, with 34 members of staff getting rewards in this range.
... Dispatch continues below ...
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How the U.S. toppled the world's most powerful gold trader
Submitted by admin on Sun, 2022-08-14 11:22 Section: Daily DispatchesExcept that the world's most powerful gold traders are really the U.S Treasury Department, the Federal Reserve, and the Bank for International Settlements, for which JPMorgan Chase long has been executing trades.
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How the U.S. Toppled the World's Most Powerful Gold Trader
Eddie Spence, Joe Deaux, and Tom Schoenberg
Bloomberg News
via Yahoo News, Sunnyvale, California
Sunday, August 14, 2022
