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Daily Dispatches
Central banks reduce crisis cash offers as bank system fears ease
Submitted by admin on Wed, 2023-04-26 01:27 Section: Daily DispatchesMuch of this money could be used for surreptitious market interventions and no one outside central banking would ever know -- and financial news organizations will never ask.
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By David McHugh
Associated Press
via ABC News, New York
Wednesday, April 25, 2023
FRANKFURT, Germany -- In a sign fears about the global financial system have eased for now, major central banks are scaling back their offer of emergency dollar loans to banks, a crisis step launched after the collapse of Silicon Valley Bank in the U.S. fed fears about wider troubles.
People should just accept their falling standard of living, Bank of England exec says
Submitted by admin on Tue, 2023-04-25 11:37 Section: Daily DispatchesYes, that might make life easier for central bankers, whose own living standards aren't likely to fall.
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People Need to Accept They Are Poorer, Bank of England Exec Says
By Eir Nolsoe
The Telegraph, London
Tuesday, April 25, 2023
Britons have to accept they have become poorer, a senior Bank of England official has said, claiming that an unwillingness to accept the nation's downward mobility was fuelling inflation.
GATA secretary interviewed in preparation for Mining Investment Asia conference
Submitted by admin on Mon, 2023-04-24 20:15 Section: Daily Dispatches8:15a CST Tuesday, April 25, 2023
Dear Friend of GATA and Gold:
In preparation for next month's Mining Investment Asia conference in Sinagpore, at which your secretary/treasurer will be speaking, Spencer Campbell of Southeast Asia Consulting Pte. Ltd. has interviewed me about GATA's work exposing and opposing manipulation of the gold market. The interview can be found at the consultancy's internet site here:
Zimbabwe's digital-currency plan needs $100 million of gold
Submitted by admin on Mon, 2023-04-24 13:03 Section: Daily DispatchesIf the digital currency isn't to be convertible to real metal, this is just another confidence trick.
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By Ray Ndlovu and Godfrey Marawanyika
Bloomberg News
Monday, April24, 2023
Zimbabwe needs $100 million of gold to kick-start its proposed bullion-backed digital currency, as the southern African nation makes another attempt to stabilize its floundering dollar.
Fire and rain show California still has plenty of gold to discover
Submitted by admin on Sun, 2023-04-23 23:30 Section: Daily DispatchesBy Hope Sloop
Daily Mail, London
Sunday, April 23, 2023
Recent wildfires and rain have caused a "Gold Rush 2.0" in California's Central , where some people have located pieces of gold that were unearthed by the natural events.
According to historian Ed Allen of the Marshall Gold Discovery State Park in Coloma, only about 10-15% of California's gold has been discovered.
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Niall Ferguson: Resentment of dollar's dominance is old hat
Submitted by admin on Sun, 2023-04-23 10:37 Section: Daily DispatchesThe Dollar's Demise May Come Gradually, But Not Suddenly
By Niall Ferguson
Bloomberg News
Sunday, April 23, 2023
"Every night," the president mused, "I ask myself why every country needs to trade in the dollar. ... Who decided it was the dollar after the disappearance of the gold standard? ... Today, countries have to chase after dollars to export, when they could be exporting in their own currencies."
The president in question was Luiz Inacio Lula da Silva of Brazil, and the venue was the New Development Bank in Shanghai on April 13.
Elouise Fowler: Why investors are sick of gold miners hedging
Submitted by admin on Sun, 2023-04-23 10:27 Section: Daily DispatchesBy Elouise Fowler
Australian Financial Review, Sydney
Sunday, April 23, 2023
China, Russia, and Turkey bought vast amounts of gold via their central banks over the past year to bolster their foreign exchange reserves and diversify against the world's most popular currency, the U.S. dollar.
Ruchir Sharma: What strong gold says about the weak dollar
Submitted by admin on Sun, 2023-04-23 10:16 Section: Daily DispatchesHow the hell did this get into the Financial Times? And how the hell can Rockefeller International offer such praise for gold?
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By Ruchir Sharma
Financial Times, London
Sunday, April 23, 2023
https://www.ft.com/content/e9c78b99-8a29-47e2-b5bf-9f7542608cf6
Central banks load up on gold in response to rising geopolitical tensions
Submitted by admin on Sun, 2023-04-23 09:55 Section: Daily DispatchesAnd the Financial Times actually acknowledges it!
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By Daria Mosolova
Financial Times, London
Sunday, April 23, 2023
Central bankers who manage trillions in foreign exchange reserves are loading up on gold as geopolitical tensions including the war in Ukraine force them to rethink their investment strategies.
An annual poll of 83 central banks, which manage a combined $7 trillion in foreign exchange assets, found that more than two-thirds of respondents thought their peers would increase their gold holdings in 2023.
Zimbabwe plans gold-backed digital currency
Submitted by admin on Sun, 2023-04-23 09:43 Section: Daily DispatchesExactly how convertible will it be, if at all? That is not reported here. But at least a resource- and gold-rich, incompetently governed, developing country is starting to perceive gold's strong monetary properties.
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By Debra Matabvu
Sunday Mail, Harare, Zimbabwe
Saturday, April 22, 2023
https://www.sundaymail.co.zw/rbz-introduces-gold-backed-digital-currency
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