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Daily Dispatches

Silver suppression just might be beaten this year, GATA's Steer tells Investing News Network

Section: Daily Dispatches

3:40p ET Wednesday, April 13, 2021

Dear Friend of GATA and Gold:

GATA board member Ed Steer, editor of Ed Steer's Gold & Silver Digest letter (https://edsteergoldsilver.com/), was interviewed this week by Charlotte McLeod of Investing News Network, discussing the prospects for overthrowing the manipulative short position in silver on the New York Commodities Exchange. Steer is cautious but hopeful that the market rigging can be defeated this year.

JPMorgan sued by London trader fired over spoofing claim

Section: Daily Dispatches

By Jonathan Browning
Bloomberg News
via The Edge Markets, Petaling Jaya, Malaysia
Wednesday, April 14, 2021

A former JPMorgan Chase & Co trader who was fired over a spoofing allegation said he was dismissed only because the bank wanted to "appease" U.S. regulators following a scandal that cost the bank close to $1 billion in penalties.

Bradley Jones, a former cash equities trader, is suing the bank for unfair dismissal in London, saying that compliance officials ruled there was nothing suspicious about his trading only to revisit it three years later. 

Ronan Manly: LBMA acknowledges severe shortage of silver

Section: Daily Dispatches

11:10a ET Wednesday, April 14, 2021

Dear Friend of GATA and Gold:

Bullion Star's Ronan Manly writes today that after declaring that there was plenty of monetary metal around, the London Bullion Market Association has issued a report acknowledging scarcity of silver and the effectiveness of the recent "silver squeeze" campaign by the Reddit gang on social media.

Manly's analysis is headlined "LBMA Acknowledges 'Buying Frenzy' in Silver Market and Silver Shortage Fears" and it's posted at Bullion Star here:

Sprott Physical Gold and Silver Trust prepares to acquire another $1 billion in metal

Section: Daily Dispatches

Sprott Physical Gold and Silver Trust Updates Its 'At-The-Market' Equity Program

Company Announcement
via Globe Newswire, Omaha, Nebraska
Tuesday, April 13, 2021

Inflation is here already, Hemke says at Sprott Money and Russell says at GoldCore

Section: Daily Dispatches

8:34p ET Tuesday, April 13, 2021

Dear Friend of GATA and Gold:

Writing at Sprott Money tonight, Craig Hemke of the TF Metals Report notes that as of today the official U.S. inflation rate is suddenly a percentage point above the interest rate of the benchmark 10-year U.S. Treasury bond, and thus U.S. real interest rates are officially and substantially negative. Yet, Hemke adds, gold is priced $300 lower than it was the last time this happened, last August.

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Ted Butler: BankAmerica suddenly becomes a big player in silver

Section: Daily Dispatches

By Ted Butler
Tuesday, April 13, 2021

Suddenly out of nowhere BankAmerica has emerged as a major participant in precious metals OTC derivatives. 
This new fact is contained in the latest release of the Treasury Department's Office of the Comptroller of the Currency (OCC) Quarterly Derivatives Report for U.S. banks. The report covers derivatives contracts in the over the counter (OTC) market as opposed to exchange-traded options and COMEX gold and silver futures. 

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A guess: Metals were smashed yesterday to offset today's bad inflation report

Section: Daily Dispatches

12:09p ET Tuesday, April 13, 2021

Dear Friend of GATA and Gold:

Many people were wondering why gold and silver were smashed yesterday when there seemed to be no particular news unfavorable to the monetary metals.

So here is a guess. 

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More razzle-dazzle hypothecation to divert investment from actual gold

Section: Daily Dispatches

New York Real Estate Mogul Secures $6 Billion in Gold to Back New Cryptocurrency

By Devon Pendleton
Bloomberg News
Tuesday, April 13, 2021

New York City real estate mogul Kent Swig has secured a minimum of $6 billion in gold reserves to back his new cryptocurrency.

The value of the digital token, DIGau, will be pegged to the market price of the precious metal, guaranteed by liens Swig and partner Stephen Braverman's company, Dignity Gold, secured against mining claims in Nevada and Arizona.

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Arcadia Economics interviews Gold Newsletter's Brien Lundin on silver

Section: Daily Dispatches

9:28p ET Monday, April 12, 2021

Dear Friend of GATA and Gold:

Chris Marcus of Arcadia Economics today interviewed Gold Newsletter publisher and New Orleans Investment Conference organizer Brien Lundin about silver's prospects, about which they are hopeful. Perhaps even more hopeful for hundreds in the gold and silver sector, Lundin remarks that the New Orleans conference anticipates being held live and in person this year, from Tuesday, October 19, through Friday, October 22.

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Simple math is about to cause an inflation problem

Section: Daily Dispatches

By Reade Pickert
Bloomberg News
Monday, April 12, 2021

No economic question is being debated more right now than whether the United States will see a sharp rise in inflation. But the answer for the next few months is simple: Yes.

Due to the way the government's inflation metrics are calculated, what will appear to be significant price increases are all but guaranteed. The phenomenon is known as the base effect, a term worth keeping in mind when new figures make the argument even wilder.

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