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Daily Dispatches

India and Russia suspend talks to settle trade in rupees

Section: Daily Dispatches

But both nations seem to have a lot of a stronger currency, a shiny yellow metal. ...

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By Aftab Ahmed and Swati Bhat
Thursday, May 4, 2023

India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers, two Indian government officials and a source with direct knowledge of the matter said.

U.S. Rep. Alex Mooney, advocate of a free gold market, seeks West Virginia Senate seat

Section: Daily Dispatches

Race for West Virginia U.S. Senate seat heating up

From WOWK-TV, Huntington, West Virginia
Tuesday, May 2, 2023

CHARLESTON, W. Va. -- The race for a contested U.S. Senate seat in West Virginia is already getting heated. It also looks to get very expensive.

It is a contested Republican primary, and that usually means a lot of sharp elbows and advertising money being spent.

"Liberal Jim Justice just can't be trusted," says an attack ad produced for the U.S. Senate campaign of U.S. Rep. Alex Mooney, R-West Virginia.

Ambrose Evans-Pritchard: Half of U.S. banks may be insolvent and this is how a credit crunch begins

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Tuesday, May 2, 2023

The twin crashes in U.S. commercial real estate and the U.S. bond market have collided with $9 trillion uninsured deposits in the American banking system. In the cyber age such deposits can vanish in an afternoon.

The second and third biggest bank failures in U.S. history have followed in quick succession. The U.S. Treasury and Federal Reserve would like us to believe that they are "idiosyncratic." That is a dangerous evasion.

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Craig Hemke at Sprott Money: Comex gold JOLTed again

Section: Daily Dispatches

10:58a ICT Wednesday, May 3, 2023

Dear Friend of GATA and Gold (and Silver):

Writing at Sprott Money, Craig Hemke of the TF Metals Report says the latest U.S. jobs report's indication of recession and the continued insolvencies of U.S. banks support expectations that Federal Reserve interest rate increases will be reversed and that the monetary metals will rise.

Hemke's analysis is headlined "Comex Gold JOLTed Again" and it's posted at Sprott Money here:

Fed is ready to buy defaulted Treasuries, so debt ceiling matters little

Section: Daily Dispatches

Biden Can Steamroll Republicans on the Debt Ceiling

By Nathan Tankus
Politico, Washington
Wednesday, April 19, 2023

The threat of a real debt ceiling crisis is growing rapidly. House Republicans are still pushing steep spending cuts that the White House won't countenance, even as the Republicans remain deeply divided on a strategy. And we're now as little as eight weeks away from the "X date" when the Treasury Department no longer has legal authorization to issue new securities and fill up its checking account.

USA Gold's top 10 reports and commentaries for April

Section: Daily Dispatches

1:38p ICT Tuesday, May 2, 2023

Dear Friend of GATA and Gold:

USA Gold's summary of its top 10 monetary-metals-related reports and commentaries for April are largely encouraging and can be found here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


Mexican Senate hastily approves new mining rules

Section: Daily Dispatches

By Raul Cortes
Saturday, April 29, 2023

MEXICO CITY -- The Mexican Senate today approved in an express session a package of laws including two constitutional reforms and a new mining law rebuked by the mining chamber and Canada.

Representatives of the president's Morena party and its allies, nearly unanimously and with little debate, approved the laws in a fast-tracked process without opposition legislators present. Legislators convened outside the chamber's usual voting location after the opposition occupied the chamber to try to prevent the session.

Ronan Manly: Sound money legislation rapidly gains traction in many U.S. states

Section: Daily Dispatches

By Ronan Manly
Bullion Star, Singapore
Sunday, April 30, 2023

As the U.S. federal government and Federal Reserve head ever more into the abyss of destroying the value of the U.S. dollar, continually breaching debt ceilings, creating asset bubbles, and intervening in and manipulating financial markets, there is an accelerating counterforce emerging in the U.S. that is the antithesis of this madness.

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JPMorgan, PNC bidding for First Republic as part of FDIC takeover

Section: Daily Dispatches

By Andrew Ackerman, David Benoit, and Rachel Louise Ensign
The Wall Street Journal
Friday, April 28, 2023

Big banks including JPMorgan Chase & Co. and PNC Financial Services Group are vying to buy First Republic Bank in a deal that would follow a government seizure of the troubled lender, according to people familiar with the matter.

A seizure and sale of First Republic by the Federal Deposit Insurance Corp. could come as soon as this weekend, the people said.

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Eric Sprott details his investment outlook in interview with Craig Hemke

Section: Daily Dispatches

2:45p ICT Friday, April 28, 2023

Dear Friend of GATA and Gold (and Silver):

Craig Hemke's monthly wrapup on the monetary metals markets for Sprott Money is an interview with mining entrepreneur Eric Sprott, who says he is investing on the assumption of an economic recession, stock market decline, continued crisis in banking worsened by the collapse of commercial real estate, and strength in the monetary metals.

Silver has been manipulated so long, Sprott says, that one day it could explode seemingly out of the blue.