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Ambrose Evans-Pritchard: U.S. inflation fears mount as the Fed 'monetizes' Biden's deficits
By Ambrose Evans-Pritchard
The Telegraph, London
Friday, May 7, 2021
The U.S. Federal Reserve and Treasury are repeating one of the most disturbing episodes of the 1940s and risk stoking a destructive inflationary boom, a leading monetary watchdog has warned.
The Center for Financial Stability (CFS) in New York says U.S. money supply data is flashing a red alert and that excess reserves in the banking sector threaten to set off an "explosion of lending" as the recovery accelerates.
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Asante Gold C$5 Million Placement Is Oversubscribed
and Another C$2 Million Is Accepted;
Drilling Finds 7.47 g/t Gold over 30 Meters
Monday, March 22, 2021
VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE, Frankfurt: 1A9, U.S. OTC:ASGOF) announces that assays have been received for the first hole of a three-hole geotechnical drill program at our Kubi Gold project in Ghana.
DDHK21-001 was collared approximately 100 meters to the north of the Kubi Pit, near the middle of the 1Kubi Main Mineral Resource. On this section gold mineralization has been previously outlined to a depth of 450 meters. The gold is free milling and occurs within a near vertical 1-kilometer by 1-meter to 15-meter-thick shear-bounded "garnet" zone.
Gold is associated with up to 30% garnet and 15% sulfide mineralization and as coarse gold in late quartz veins.
The drilling has confirmed typical Kubi Main Zone gold mineralization.
-- 30 meters grading 7.47 g/t gold (true width estimated at 7.5 meters), including:
-- 14.31 g/t over 10 meters.
-- 5.69 g/t over 9.0 meters.
-- 10.75 g/t over 16 meters.
Given the presence of visible gold and the numerous high assays received, samples have been resubmitted for screened metallics assays, which give more exact results when coarse gold is present. Further results will be announced as received. ...
... For the remainder of the announcement:
The Fed is riding a tiger by the tail and may have great difficulty extricating itself from a torrid monetary experiment that is reaching its limits.
The CFS said its "divisia" measure of the broad M4 money supply rose 24 percent in March from a year earlier, and narrow its M1 variant rose 36.9 percent. "Those monetary growth rates are potentially alarming," said Professor William Barnett, the institution's director.
Barnett said de-facto collusion between the Fed and the Treasury is much like that of the 1940s, when the Fed served as a fiscal agent for Democratic administrations and mopped up the vast bond issuance needed to pay for the Second World War and its aftermath.
Inflation reached 17 percent by mid-1947 and creditors were gradually expropriated in what amounted to a stealth default stretched over several years. ...
... For the remainder of the report:
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