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Daily Dispatches
Pam and Russ Martens: FDIC seizure of foreign deposits at SVB opens Pandora's box at JPM and Citi
Submitted by admin on Mon, 2023-05-15 11:14 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, May 15, 2023
If you have been following the banking crisis, you have likely read at least a dozen times that on March 12 federal banking regulators, with the consent of the U.S. Treasury Secretary Janet Yellen, invoked the "systemic risk exception" in order to protect both insured and uninsured depositors at the two banks that failed in March -- Silicon Valley Bank and Signature Bank.
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'Genuinely worried' Asian investors flock to safe haven gold amid U.S. dollar woes
Submitted by admin on Mon, 2023-05-15 09:25 Section: Daily DispatchesBy Biman Mukherji
South China Morning Post, Hong Kong
Monday, May 15, 2023
Canadian investor Brian Foster (a pseudonym) started buying gold a year ago, picking up a little more of the precious metal every time he visited Hong Kong -- about once every three months -- Singapore or Switzerland, until he’d accumulated some US$120,000 worth.
Australian gold miner Newcrest endorses Newmont's raised offer
Submitted by admin on Sun, 2023-05-14 20:14 Section: Daily DispatchesBy Scott Murdoch and Melanie Burton
Reuters
Sunday, May 14, 2023
Australian gold miner Newcrest Mining said it would back Newmont Corp's A$26.2 billion ($17.8 billion) takeover offer in one of the world's largest buyouts so far this year.
The deal, subject to approval from shareholders of both companies and other regulatory hurdles, would lift Newmont's gold output to nearly double its nearest rival, Barrick Gold Corp., and catapult the miner past Freeport McMoRan to become the largest U.S. gold and copper producer by market capitalisation.
Gold jumps above stocks as Americans' preferred long-term investment while real estate plunges
Submitted by admin on Sat, 2023-05-13 09:00 Section: Daily DispatchesBy Filip De Mott
Insider, New York
Friday, May 12, 2023
American investment preferences have shifted in response to ongoing economic insecurities, according to a new Gallup poll.
When asked what is the best long-term investment, a plurality of respondents still said real estate, but the share sank to 34% this year from 45% last year.
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U.S. Treasury has just $88 billion of measures left to avoid debt cap
Submitted by admin on Fri, 2023-05-12 23:34 Section: Daily DispatchesBy Benjamin Purvis and Michael Mackenzie
Bloomberg News
Friday, May 12, 2023
The U.S. Treasury Department said in a statement today that it had just $88 billion of extraordinary measures to help keep the government's bills paid as of May 10.
That's down from around $110 billion a week earlier and means that just over a quarter of the $333 billion of authorized measures are still available to keep the U.S. government from running out of borrowing room under the statutory debt limit.
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Alaska House passes bill to make gold and silver legal tender
Submitted by admin on Fri, 2023-05-12 23:10 Section: Daily DispatchesBy Sean Maguire
Anchorage Daily News
Thursday, May 11, 2023
JUNEAU -- In the final days of the legislative session, the Alaska House passed a bill that would allow gold and silver to be used as legal tender.
House Bill 3, introduced by Big Lake Republican Rep. Kevin McCabe, would allow business owners to decide if they want to accept the precious metals as currency. The coin or bar would need to be refined and its value would need to be authenticated, so gold dust or nuggets could not be used.
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'Live from the Vault' reviews threats to U.S. electric grid with documentary maker David Tice
Submitted by admin on Fri, 2023-05-12 10:06 Section: Daily Dispatches10:10p SGT Friday, May 12, 2023
Dear Friend of GATA and Gold:
Kinesis Money's "Live from the Vault" program this week includes an interview by London metals trader Andrew Maguire with market expert and former fund manager David Tice about the serious threats to the electric grid in the United States, about which Tice recently made a major documentary film. The program is 49 minutes long and can be viewed at YouTube here:
AngloGold Ashanti to switch primary listing to New York
Submitted by admin on Fri, 2023-05-12 05:11 Section: Daily DispatchesBy William Langley
Financial Times, London
Friday, May 12, 2023
https://www.ft.com/content/7704382c-a8fa-4ec8-9928-88a389449fe6
Miner AngloGold Ashanti has announced plans to transfer its primary listing to New York and redomicile in the UK after winding down its South African operations to focus on other markets.
Under a plan set out today the company, which has its primary listing in Johannesburg, will keep a secondary listing there and have another in Ghana.
Alasdair Macleod: The dynamics driving the dollar down
Submitted by admin on Fri, 2023-05-12 00:32 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, May 11, 2023
This article examines the currency imbalances between U.S. dollars and the other currencies and concludes that should foreign holders decide to reduce their dollar exposure, the consequences for the dollar's value would be dramatic.
Chris Powell: How might gold price suppression policy end?
Submitted by admin on Thu, 2023-05-11 05:32 Section: Daily DispatchesThe slides accompanying this presentation can be viewed here:
https://gata.org/sites/default/files/MiningInvestmentAsia_Singapore2023-05-%20v3.pdf
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SLIDE 1: TITLE
Remarks by Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Mining Investment Asia Conference
Marriott Tang Plaza Hotel, Singapore
Thursday, May 11, 2023
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