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Daily Dispatches

Alasdair Macleod: Why central bank digital currencies may never happen

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, January 27, 2022

The Federal Reserve has just released its first public consultation paper on a dollar-based central bank digital currency. For many, central bank digital currencies (CBDCs) are a means of heading off private-sector cryptos, but coincidentally the prices of bitcoin and others have collapsed, losing half their value since early November.

China's 2021 gold consumption jumps by a third in year as economy grows

Section: Daily Dispatches

By Emily Chow
Reuters
Thursday, January 27, 2022

BEIJING -- China's 2021 gold consumption rose by over a third from the previous year, as its economy rebounded from the coronavirus impact, the China Gold Association said today.

Consumption in the world's largest gold consumer rose 36.53% year-on-year to 1,120.9 tonnes. It was also up 11.78% compared with consumption in 2019, before the pandemic.

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Pam and Russ Martens: Wall Street megabanks have shifted their derivative exposure to corporations

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Thursday, January 27, 2022

The last thing a volatile stock market needs right now is more surprises from the dark corners of Wall Street. Unfortunately, we can guarantee you that more surprises are coming in the way of uncleared derivatives blowing up on the balance sheets of publicly-traded corporations.

How do we know this? 

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Craig Hemke: The strange correlation of Comex silver and GDX

Section: Daily Dispatches

By Craig Hemke
Sprott Money, Toronto
Tuesday, January 25, 2022

As we all await the latest Federal Open Market Committee mutterings on Wednesday, I thought it might be fun to write this week about something you may not have noticed. And what's that? 

It's the curious yet almost 100% long-term correlation between the price of Comex silver and the price of the popular gold mining share exchange-traded fund with the symbol GDX.

Pam and Russ Martens: Federal agency hides bank identities in study of dangerous derivatives 

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Tuesday, January 25, 2022

The Office of Financial Research is the federal agency created under the Dodd-Frank financial reform legislation of 2010. Its role is to provide early warnings to U.S. bank regulators and the public of systemic risks that threaten U.S. financial stability, so that another 2008-style Wall Street crisis can never again devastate the U.S. economy.

Silver is on the launchpad, GATA's Steer tells Wall Street Silver

Section: Daily Dispatches

11:58a ET Tuesday, January 25, 2022

Dear Friend of GATA and Gold:

GATA board member Ed Steer, editor of Ed Steer's Gold & Silver Digest, was interviewed by the Wall Street Silver boys a few days ago and said that silver supplies are tight and that the metal is "on the launchpad." 

The interview is 17 minutes long and can be viewed at YouTube here:

https://www.youtube.com/watch?v=-E272CXDQCg

Ted Butler: JPMorgan must have 'tricked' Bank of America into shorting so much gold and silver

Section: Daily Dispatches

11:54a ET Monday, January 24, 2022

Dear Friend of GATA and Gold:

Silver market analyst Ted Butler writes today that Bank of America has taken what seem huge short positions in gold and silver because the bank was "tricked in some way" by bullion bank JPMorganChase & Co.

India plans 'gold savings accounts' to reduce demand for real metal -- and thus its price

Section: Daily Dispatches

How stupid does the government think its people are? Comprehensively stupid.

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Gold Savings Accounts Likely to Check Widening Current Account Deficit

By Sutanuka Ghosal
The Times of India, Mumbai
Saturday, January 22, 2022

The case for 'digital gold' unravels as bitcoin's plunge deepens

Section: Daily Dispatches

By Akayla Gardner
Bloomberg News
Friday, January 21, 2021

The argument Bitcoin is a form of "digital gold" is falling apart.

As the largest cryptocurrency slips to $38,000, the lowest price since August, its decline in tandem with risk assets such as tech stocks is casting a shadow on a long-touted similarity to gold. 

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Emirates take on LBMA with launch of UAE Good Delivery Standard for gold

Section: Daily Dispatches

By Ronan Manly
Bullion Star, Singapore
Friday, January 21, 2022

In the ongoing tug of war between the gold trading centres of, on the one hand, the United Arab Emirates, and, on the other, the axis of London-Switzerland, the UAE has now thrown down the gauntlet with the launch of a UAE Good Delivery Standard for gold, a system that will go into effect in February.

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