You are here

Daily Dispatches

Alasdair Macleod: The dollar's debt trap

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, August 19, 2021

On the 50th anniversary of the Nixon Shock, this article explains why fiat currencies have become joined at the hip to financial asset values, and why they are about to descend into the next financial crisis together.

Rare 1804 silver dollar sells for record-breaking $7.7 million

Section: Daily Dispatches

By Rachel Cormack
Robb Report, Los Angeles
Wednesday, August 18, 2021

The king of American coins just fetched a princely, world-record sum.

The single finest example of the 1804 U.S. silver dollar sold Tuesday for an astonishing $7.68 million at a Stack's Bowers Galleries auction to become the most expensive coin of its kind.

The Class I silver dollar, which has been graded Proof-68 by Professional Coin Grading Service, was offered from the collection of the late coin connoisseur D. Brent Pogue and boasts one helluva backstory.

Financial Times: Believe in unicorns, not gold

Section: Daily Dispatches

9:27p ET Tuesday, August 17, 2021

Dear Friend of GATA and Gold:

In its editorial today, "A 50-Year Quest for Monetary Stability," the Financial Times, the posturing mouthpiece of the Anglo-American financial establishment, notes the 50th anniversary of the destruction of the Bretton Woods system of linking gold to the U.S. dollar, and, through the dollar, to all major currencies. The FT declares that "nostalgia for the gold standard is misguided and misplaced":

Craig Hemke at Sprott Money: A system of confidence is going down the tubes

Section: Daily Dispatches

By Craig Hemke
Sprott Money, Toronto
Tuesday, August 17, 2021

On Twitter this week someone sent me a note asking if this weekend's events represented "Peak America." I responded that "Peak America" actually came a long time ago. 

The fall of Afghanistan is just the latest milepost on the way down.

And what does this have to do with the precious metals? Everything! 

... Dispatch continues below ...


The great New Orleans conference returns, and with a money-back guarantee

Section: Daily Dispatches

By Brien Lundin
Publisher, Gold Newsletter
CEO, New Orleans Investment Conference
Tuesday, August 17, 2021

This year’s New Orleans Investment Conference is coming up -- Tuesday through Friday, October 19-22 -- and you’ll kick yourself if you miss it.

Why? Because this is without a doubt the most valuable, important, rewarding -- and eagerly awaited --event in many years.

It will be the first big in-person event of its kind post-pandemic --a "welcome home" for hundreds of today's smartest and most active investors.

Edwin Vieira: The constitutional questions on money need to be answered

Section: Daily Dispatches

By Edwin Vieira
The New York Sun
Tuesday, August 17, 2021

Any close observer of contemporary discussions of monetary policy must become disheartened by the tendency to treat that subject as a matter of politics, economics, and social effects, with little to no consideration of its necessary foundation in monetary law -- and, even more to the point, of the dependence of monetary law on the Constitution of the United States.

... Dispatch continues below ...


Palantir purchases $50 million in gold bars as cash pile grows

Section: Daily Dispatches

By Jordan Novel
CNBC, New York
Tuesday, August 17, 2021

While some companies such as Tesla are diversifying into bitcoin, data analytics software company Palantir is betting on gold. Palantir bought $50 million in gold bars in August, the company disclosed in its latest earnings statement.

... Dispatch continues below ...


Buy, Sell, or Store Precious Metals with Money Metals Exchange

Ronan Manly: How Britain's request for $3 billion in metal shattered the 'gold window'

Section: Daily Dispatches

12:10p ET Tuesday, August 17, 2021

Dear Friend of GATA and Gold:

Bullion Star researcher Ronan Manly has produced a detailed report on the de-facto bank run that caused the closing of the U.S. government's "gold window" in August 1971 -- European government requests, particularly from France and, more so, the United Kingdom, to convert huge amounts of their dollars into metal.

Manly reports evidence that even back then the United States did not have the gold reserves it claimed to have, at least not in "good delivery" form.

India's central bank buys record amount of gold in first half of 2021

Section: Daily Dispatches

RBI buys record gold this year, and at 700 tonnes, reserves up 27% in 2 years

By Rajesh Bhayani
Business Standard, New Delhi
Thursday, August 12, 2021

The Reserve Bank of India has increased its gold purchases, as part of its foreign exchange reserves. 

In the first half of 2021, the addition of gold to India's forex reserves has been the highest -- on a half-yearly basis -- at 29 tonnes. 

Now the RBI's gold holding -- as a proportion of its forex reserves — has for the first time crossed 700 tonnes. ...

Ed Steer: A commitment of traders report for the ages

Section: Daily Dispatches

6:06p ET Monday, August 16, 2021

Dear Friend of GATA and Gold:

GATA board member Ed Steer's Saturday commentary at Ed Steer's Gold & Silver Digest, headlined "A Commitment of Traders Report for the Ages," is posted in the clear at GoldSeek here:

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