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Daily Dispatches

Yikes! Gold and silver market rigging gets acknowledged at PDAC

Section: Daily Dispatches

11:55p ET Wednesday, June 15, 2022

Dear Friend of GATA and Gold:

With the Prospectors and Developers Association of Canada resuming its annual convention in Toronto this week, First Majestic Silver CEO Keith Neumeyer tells Stansberry Research's Daniela Cambone that he sponsored a reception for silver mining executives and investors in part because he wanted them to discuss market manipulation and maybe even try to do something about it.

Kinross Gold sells off Russian mines but at half the agreed price

Section: Daily Dispatches

By Barbara Shecter
National Post, Toronto
Wednesday, June 15, 2022

Kinross Gold Corp. has sold all its Russian assets to the Highland Gold Mining group of companies, but the Canadian miner will realize just half the $680 million in proceeds agreed to in April, following a review by the recently formed Russian Sub-commission on the Control of Foreign Investments.

The Russian sub-commission "approved this transaction for a purchase price not exceeding $340 million," Kinross said in a statement today.

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When buying gold or silver, consider the dealers who support GATA

Section: Daily Dispatches

9:35p Wednesday, June 15, 2022

Dear Friend of GATA and Gold:

Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio. 

Robert Lambourne: BIS gold swaps fell substantially again in May

Section: Daily Dispatches

By Robert Lambourne
Tuesday, June 14, 2022

Another substantial reduction in the gold swaps of the Bank for International Settlements is indicated by the bank's statement of account for May:

https://www.bis.org/banking/balsheet/statofacc220531.pdf

Crypto firms Celsius, Binance halt withdrawals as bitcoin plummets

Section: Daily Dispatches

By Karl Evers-Hillstrom
The Hill, Washington
Monday, June 13, 2022

Cryptocurrency companies today blocked users from withdrawing funds as the value of bitcoin and other prominent digital assets plunged. 

Crypto lending company Celsius Network announced late Sunday night that it would freeze all withdrawals and transfers due to "extreme market conditions." The move sparked an enormous selloff, with the price of bitcoin falling 12% to its lowest level since December 2020. 

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Huge selloff rocks Treasury markets, inverting yield curve

Section: Daily Dispatches

By Yoruk Bahceli and Sujata Rao
Reuters
Monday, June 13, 2022

U.S. two-year Treasury yields rose above 10-year borrowing costs today -- the so-called curve inversion that often heralds economic recession -- on expectations interest rates may rise faster and further than anticipated.

Fears the U.S. Federal Reserve could opt for an even larger rate hike than anticipated this week to contain inflation sent two-year yields to their highest levels since 2007.

But a view is also playing out that aggressive rate hikes may tip the economy into recession. ...

Having left Kitco for Stansberry, Cambone can abide mention of gold market rigging

Section: Daily Dispatches

8:56a ET Saturday, June 11, 2022

Dear Friend of GATA and Gold:

Daniela Cambone couldn't address gold market manipulation when she was doing interviews for Kitco News, and her successors there still can't, but this week, now that she is at Stansberry Research, she got around to it during an interview in Zurich with Commodity Discovery Fund manager and financial author Willem Middlekoop.

Grandich, Maguire salute GATA, see gold displacing dollar

Section: Daily Dispatches

9:49p ET Friday, June 10, 2022

Dear Friend of GATA and Gold:

Financial analyst Peter Grandich is the guest of London metals trader Andrew Maguire on this week's "Live from the Vault" program from Kinesis Money, and they salute GATA's work exposing gold market manipulation. 

Grandich believes that the U.S. government's weaponization of the dollar against Russia and other adversaries marks the beginning of the end of the dollar as the world reserve currency, leading to gold's ascent. Maguire envisions Russia and China increasingly monetizing gold.

When buying gold or silver, consider the dealers who support GATA

Section: Daily Dispatches

4:22p Friday, June 10, 2022

Dear Friend of GATA and Gold:

Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio. 

Alasdair Macleod: Protection from a currency collapse

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Friday, June 10, 2022

While markets seem becalmed, financial conditions are rapidly deteriorating. 

Last week Jamie Dimon of JPMorgan Chase gave the clearest of signals that bank credit is beginning to contract. Russia has consolidated its rouble, which has now become the strongest currency by far. The Fed announced the previous week that its balance sheet is in negative equity. And there's mounting evidence that we have a nascent crack-up boom.

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