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Daily Dispatches

Bolivia sold $1 billion in gold this year but remains broke as its bonds collapse

Section: Daily Dispatches

Western gold price suppression policy doesn't seem to bother the government of another resource-rich nation that insists on being poor.

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Bolivia Running Out of Cash After $1 Billion in Gold Sales

By Oliver West
Global Capital, London
Wednesday, October 11, 2023

Bolivia is plunging into a balance of payments crisis amid a continued shortage of dollars, no recent official data on foreign currency reserves, and a hefty fiscal deficit. 

Stirring the pot is former President Evo Morales, forced to flee the country in 2019.

Alasdair Macleod: Don't rely on GDP

Section: Daily Dispatches

By Alasdair Macleod
Head of Research, GoldMoney, Toronto
via Schiff Gold, White Plains, New York
Thursday, October 12, 2023

An important error in statistical analysis is that mathematical economists have lost sight of what their beloved statistics represent -- none more so than with gross domestic product.

New details about $20 million Toronto airport gold heist revealed in Brink's suit vs. Air Canada

Section: Daily Dispatches

By Adrian Humphreys
National Post, Toronto
Tuesday, October 10, 2023

The shock Toronto airport heist of $20 million in gold bars -- weighing 400.19 kilograms -- along with US$2 million in cash was as easy as walking into Air Canada's cargo facility, showing a false waybill, and leaving with the enormous haul, according to a lawsuit filed in court.

It was gone 42 minutes after it was unloaded from a plane arriving from Switzerland and transferred to a supposedly secure warehouse on the periphery of Toronto's Pearson airport, according to the statement of claim.

Nigeria can be another African gold powerhouse

Section: Daily Dispatches

By Oluwatomisin Amokeoja
Forbes / Forbes Africa, Jersey City, New Jersey
Tuesday, October 10, 2023

According to Statista's second-quarter report, Nigeria has secured the sixth spot among the top 10 African countries with the most substantial gold reserves.

At the forefront of West Africa, Nigeria boasts of 21.37 metric tons of gold reserves, valued at $1 billion -- resources considered by analysts as part of Nigeria's broader economic strategy to fortify foreign exchange reserves and decrease dependence on oil exports.

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In GoldSeek Radio interview, GATA chairman discusses prospects for monetary metals

Section: Daily Dispatches

7:42p ET Monday, October 9, 2023

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy and GoldSeek Radio's Chris Waltzek today discuss the prospects for the monetary metals amid rising debt and interest rates and the possibility that the Federal Reserve will stop raising rates. The interview is 14 minutes long and can be heard at Goldseek here:

Ed Steer's weekend review posted in the clear at SilverSeek

Section: Daily Dispatches

11:51a ET Sunday, October 7, 2023

Dear Friend of GATA and Gold (and Silver):

The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "A COT Report Certainly Worth Framing" and it's posted in the clear at GoldSeek's companion site, SilverSeek, here:

Gold premiums in Moscow and Shanghai will bust Comex, Maguire says

Section: Daily Dispatches

11:45p ET Saturday, October 7, 2023

Dear Friend of GATA and Gold:

Kinesis Money's "Live from the Vault" program this week has London metals trader Andrew Maguire asserting that substantial premiums for gold in the Moscow and Shanghai markets continue to draw bullion out of the West, where the gold price is suppressed by official policy, and eventually will bust the New York Commodities Exchange's gold futures business. Maguire adds that speculators now are the big shorts in gold futures and that all major bullion banks have gone long.

Jim Sinclair, the 'Mister Gold' of the United States, dies at 82

Section: Daily Dispatches

8:47p ET Friday, October 6, 2023

Dear Friend of GATA and Gold:

James E. Sinclair, long the "Mister Gold" of the United States -- an advocate of gold as money, a gold market maker, a gold mining company founder, and an internationally known commenter on the markets -- died of a heart attack today, his business associate, Bill Holter, confirmed to GATA. He was 82.

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Prohibit gold mining? Totalitarians would love that

Section: Daily Dispatches

8:19p ET Friday, October 6, 2023

Dear Friend of GATA and Gold:

Toronto's Glode and Mail today published a long essay by Christopher Pollon, a Vancouver-based journalist who focuses on the mining industry, arguing for prohibiting gold mining on account of the environmental damage it often does.

Toward the end of his essay Pollon acknowledges gold's monetary function but suggests that it could be sustained by digitizing unmined gold from certified reserves, creating another sort of digital currency like bitcoin.