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Daily Dispatches
Jan Nieuwenhuijs: Thailand joins China in driving gold bull market
Submitted by admin on Mon, 2024-06-17 11:10 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Monday, June 17, 2024
Shedding its long-standing price sensitivity to the price of gold, Thailand is a gold buyer driving the price up, just like China.
Present changes in the global gold market, in which pricing power is shifting East, could be a precursor to a transformation in the international monetary order. Possibly, trade in the East will settle through a system connecting local central bank digital currencies, while any remaining imbalances are transferred in gold.
Silver market manipulation adversary Ted Butler dies
Submitted by admin on Sun, 2024-06-16 20:48 Section: Daily Dispatches8:49p ET Sunday, June 16, 2024
Dear Friend of GATA and Gold (and Silver):
Friends confirmed tonight that silver market analyst Ted Butler, who exposed and became the scourge of silver market manipulation for almost three decades, died Saturday.
Butler lived in Florida and wrote about silver market manipulation since 1996. In 2009 he formed Butler Research LLC and began publishing a subscription newsletter.
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Tanzania issues directive to curtail rampant use of U.S. dollar
Submitted by admin on Sun, 2024-06-16 16:41 Section: Daily DispatchesBy Paul Owere
The Citizen, Dar Es Salaam, Tanzania
Sunday, June 16, 2024
Tanzania's finance minister, Mwigulu Nchemba, issued a decisivie directive on June 13 aimed at curbing the widespreadd use the the U.S. dollar within the country in a bid to address a critical challenge to the economy.
Joseph Adinolfi: Reports of the petrodollar system's demise are 'fake news,' and here's why
Submitted by admin on Sat, 2024-06-15 16:08 Section: Daily DispatchesBy Joseph Adinolfi
Dow Jones News Service
via Morningstar.com, Chicago
Saturday, June 15, 2024
Stories about the collapse of a longstanding "petrodollar" agreement between the United States and Saudi Arabia spread like wildfire on social media this week. But the agreement never existed.
It seemed like big news, and many wondered why the mainstream media had seemingly ignored it. Turns out there was a very good reason.
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Saudi Arabia ends 50-year petrodollar deal with U.S., boosting other currencies
Submitted by admin on Fri, 2024-06-14 08:43 Section: Daily DispatchesBy Pawan Kumar
The Times of India, Mumbai
Friday, June 14, 2024
Hit by new U.S. sanctions, Russia halts dollar and euro trade on main bourse
Submitted by admin on Wed, 2024-06-12 20:15 Section: Daily DispatchesBy Alexander Marrow and Mark Trevelyan
Reuters
via Yahoo News, Sunnyvale, California
Wednesday, June 12, 2024
New U.S. sanctions against Russia have forced an immediate suspension of trading in dollars and euros on its leading financial marketplace, the Moscow Exchange.
The exchange and the central bank rushed out statements today -- a public holiday in Russia -- within an hour of Washington announcing a new round of sanctions aimed at cutting the flow of money and goods to sustain Russia's war in Ukraine.
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The world will never be free if it believes official gold data
Submitted by admin on Tue, 2024-06-11 23:29 Section: Daily Dispatches11:52p ET Tuesday, June 11, 2024
Dear Friend of GATA and Gold:
Headlines like this have been pummeling the monetary metals sector in recent days: "Gold Is Getting So Expensive That Even China's Central Bank Stopped Buying."
Singapore to lead gold market as it shifts east, World Gold Council says
Submitted by admin on Tue, 2024-06-11 10:25 Section: Daily DispatchesBy Lee Ying Shan
CNBC, New York
Monday, June 10, 2024
SINGAPORE -- Singapore is set to become a leading gold hub as trading shifts east, according to the World Gold Council.
One key reason is that gold consumption in major emerging economies is rising, and a majority of these markets are concentrated in Asia, said Shaokai Fan, head of Asia-Pacific and global head of central banks.
Singapore's proximity to these central banks, which are snapping up gold, is another factor, he added.
Vietnam expected to start allowing private companies to import gold again
Submitted by admin on Tue, 2024-06-11 10:09 Section: Daily DispatchesBy Ashitha Shivaprasad and Brijesh Patel
Reuters
Tuesday, June 11, 2024
SINGAPORE -- Vietnam is expected to allow companies to import gold for the first time in over a decade, as it aims to bridge the widening gap between local prices and international benchmarks, an industry official told Reuters.
The Vietnam Gold Traders Association has been in protracted talks with the government over measures to correct the imbalance in supply and demand of gold, Huynh Trung Khanh, the association's vice chair said.
Utah Sen. Mike Lee introduces bill to end the Fed
Submitted by admin on Mon, 2024-06-10 13:35 Section: Daily DispatchesBy Jeffrey Gogo
Cryptopolitan, London
Sunday, June 9, 2024
U.S. Sen. Mike Lee has introduced a bill calling for the abolition of the Federal Reserve system, including the Board of Governors. Dubbed the "Abolition Act," the proposed law also seeks to repeal the foundational 1913 Federal Reserve Act.
Lee, a Republican senator from Utah, said the U.S. central bank, "overstepped" its mandate and failed to control key economic variables like inflation and public debt.
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