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Daily Dispatches
Central banks step up fight against cryptocurrencies
Submitted by admin on Thu, 2021-06-24 12:35 Section: Daily DispatchesBy Eva Szalay
Financial Times, London
Wednesday, June 23, 2021
Central banks have intensified their criticism of cryptocurrencies as battle over the monetary system escalates, arguing that digital tokens such as bitcoin have few redeeming features and "work against the public good."
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Central bank digital currencies get full backing from BIS
Submitted by admin on Thu, 2021-06-24 12:04 Section: Daily DispatchesBy Marc Jones
Reuters
Wednesday, June 23, 2021
LONDON -- The Bank for International Settlements has given its full backing to the development of central bank digital currencies (CBDCs), saying they are needed to modernise finance and ensure 'Big Tech' does not take control of money.
Dubbed the central bank to the world's central banks, the BIS, which is coordinating many of their discussions on digital currencies, set out recommendations on Wednesday on how a CBDC such as a digital dollar, euro, yen or yuan should look.
South African brothers vanish, and so does $3.6 billion in bitcoin
Submitted by admin on Wed, 2021-06-23 21:02 Section: Daily DispatchesBy Roxanne Henderson and Loni Prinsloo
Bloomberg News
Wednesday, June 23, 2021
A pair of South African brothers have vanished, along with Bitcoin worth $3.6 billion from their cryptocurrency investment platform.
A Cape Town law firm hired by investors says they can't locate the brothers and has reported the matter to the Hawks, an elite unit of the national police force. It's also told crypto exchanges across the globe should any attempt be made to convert the digital coins.
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Fed officials say 'temporary' inflation surge may last longer than thought
Submitted by admin on Wed, 2021-06-23 19:08 Section: Daily DispatchesA century maybe?
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By Howard Schneider
Reuters
Wednesday, June 23, 2021
WASHINGTON -- A period of high inflation in the United States may last longer than anticipated, two U.S. Federal Reserve officials said today, prompting one to pull forward his views on when the central bank should start raising interest rates.
Atlanta Fed President Raphael Bostic said with growth surging to an estimated 7% this year and inflation well above the Fed's 2% target, he now expects interest rates will need to rise in late 2022.
Basel 3 to trigger 'liquidity squeeze,' gold price could be $2,100 by year-end, Goldex CEO says
Submitted by admin on Wed, 2021-06-23 15:15 Section: Daily DispatchesBy Anna Golubova
Kitco News, Montreal
Tuesday, June 22, 2021
The risk with Basel III is a major shift toward allocated gold, which could trigger a liquidity squeeze in the physical metal and lead to higher prices by the end of the year, according to Goldex CEO Sylvia Carrasco.
The impact of the Basel III agreement, which will come into force on June 28, for European banks and on January 1, 2022, for British banks, is being debated by many gold industry experts, with opinions ranging from "everything will change" to "no impact at all."
Jim Rickards: The 'great reset' is here
Submitted by admin on Wed, 2021-06-23 14:50 Section: Daily DispatchesBy James G. Rickards
Daily Reckoning, Baltimore
Tuesday, June 15, 2021
For years currency analysts (myself included) have looked for signs of an international monetary "reset" that would diminish the dollar's role as the leading reserve currency and replace it with a substitute, which would be agreed upon at some Bretton Woods-style monetary conference.
Now it looks like the move toward the long-expected Great Reset is accelerating.
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Inflation will get far worse as debt has to be inflated away with dollar, GATA's Steer says
Submitted by admin on Wed, 2021-06-23 14:43 Section: Daily Dispatches2:40p ET Wednesday, June 23, 2021
Dear Friend of GATA and Gold:
Interviewed by talk-show host Dave Janda on WAAM-AM1600 in Ann Arbor, Michigan, GATA board member Ed Steer says inflation will get far worse as worldwide debt, which long ago became unpayable, has to be defaulted upon or inflated away, especially in U.S. dollar terms. The interview is 22 minutes long and can be heard at YouTube here:
New York Sun: The dollar lying in wait
Submitted by admin on Wed, 2021-06-23 14:37 Section: Daily DispatchesFrom The New York Sun
Wednesday, June 23, 2021
Paul Krugman is out with his latest column --
Craig Hemke: After the smash, rising debt, negative rates still support metals
Submitted by admin on Tue, 2021-06-22 22:20 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, June 22, 2021
Once again it was the "escalator up and elevator shaft down" for the Comex digital metals. What does this mean for price moving forward and into the second half of 2021?
First off, we should address what happened and why the precious metals (and most commodities) reacted as violently as they did last week after the June Federal Open Market Committee meeting.
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Fed's cartoons promise 'just the right amount of inflation'
Submitted by admin on Tue, 2021-06-22 14:47 Section: Daily DispatchesThat's all, folks.
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Federal Reserve Builds Lego Town to Explain Inflatin
By Catarina Saraiva
Bloomberg News
via The Detroit News
Monday, June 21, 2021
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