GATA

Gold and silver still protect purchasing power, Turk tells Wall Street Silver

Section: Daily Dispatches

9:27p ET Sunday, May 22, 2022

Dear Friend of GATA and Gold:

GoldMoney founder and GATA consultant James Turk, interviewed by Ivan Bayoukhi and Jim Lewis of Wall Street Silver, shows that despite their recent smashings in the futures market, gold and silver long have protected and still are protecting the purchasing power of their owners, especially in regard to the key measure of energy, the price of oil.

Turk's interview is 14 minutes long and can be viewed at YouTube here:

AOC touts 'zero-emission' engagement ring made with 'recycled gold'

Section: Daily Dispatches

By Jon Levine
New York Post
Saturday, May 21, 2022

Super-woke Congresswoman Alexandria Ocasio-Cortez boasts that her new engagement ring is made from "recycled gold" and is "zero-emission."

The just-engaged socialist made the claim on Twitter in response to a follower who warned that "your ring gotta be made of tinfoil, otherwise the right's gonna flip."

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Robert Lambourne: BIS gold swaps fall by a third in two months. Is 'Basel 3' kicking in?

Section: Daily Dispatches

By Robert Lambourne
Saturday, May 21, 2022

The recently released March and April 2022 statements of account of the Bank for International Settlements — 

https://www.bis.org/banking/balsheet/statofacc220331.pdf

https://www.bis.org/banking/balsheet/statofacc220430.pdf

— contain information suggesting a significant decrease in the bank's gold swaps.

Ruble rises to 2015 level against euro as EU prepares to pay for gas

Section: Daily Dispatches

Wonderful sanctions you got there, Boys and Girls.

* * *

From Reuters
Friday, May 20, 2022

The Russian ruble today rallied to its strongest levels against the euro and dollar since June 2015 and March 2018 respectively, which analysts attributed to EU countries preparing to pay Russia for gas and to capital controls imposed by Moscow.

Russia said Thursday that half of gas giant Gazprom's 54 clients have opened accounts at Gazprombank, as European companies approach imminent deadlines to pay for their gas supplies.

When buying gold and silver, consider the dealers who support GATA

Section: Daily Dispatches

12:23p Friday, May 20, 2022

Dear Friend of GATA and Gold:

Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio. 

Ronan Manly: Most of Portugal's gold is being leased or swapped through the Bank of England

Section: Daily Dispatches

12:07p ET Friday, May 20, 2022

Dear Friend of GATA and Gold:

Bullion Star's Ronan Manly notes today that the grand tour of its gold vault given this week by Portugal's central bank only concealed the important information of the day, information not extracted by the starry-eyed journalists invited.

That is, Manly writes, the Portuguese central bank's accounts show that most of Portugal's gold, largely held in London, is being leased or swapped through the Bank of England.

Asante