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Daily Dispatches
To boost revenue, Philippines terminates nine-year ban on new mines
Submitted by admin on Thu, 2021-04-15 21:01 Section: Daily DispatchesBy Enrico Cruz
Reuters
Thursday, April 15, 2021
Philippine President Rodrigo Duterte has lifted a moratorium on new mineral agreements imposed in 2012, reopening the door to investments in a move that will boost state coffers but has dismayed environmental activists.
The Philippines, the top supplier of nickel ore to China and a major producer of copper and gold, imposed the moratorium while the government worked on legislation to boost the state's share of mining revenues. Since 2018 the excise tax on minerals has doubled to 4%.
Hugo Salinas Price: Mexico could remonetize silver without its central bank's approval
Submitted by admin on Thu, 2021-04-15 20:46 Section: Daily Dispatches8:45p ET Thursday, April 15, 2021
Dear Friend of GATA and Gold:
In a video conversation today, the Mexican Civic Association for Silver's Hugo Salinas Price describes a plan by which the Mexican government could effectively remonetize silver and bypass the longstanding opposition of the country's central bank.
Silver suppression just might be beaten this year, GATA's Steer tells Investing News Network
Submitted by admin on Wed, 2021-04-14 15:44 Section: Daily Dispatches3:40p ET Wednesday, April 13, 2021
Dear Friend of GATA and Gold:
GATA board member Ed Steer, editor of Ed Steer's Gold & Silver Digest letter (https://edsteergoldsilver.com/), was interviewed this week by Charlotte McLeod of Investing News Network, discussing the prospects for overthrowing the manipulative short position in silver on the New York Commodities Exchange. Steer is cautious but hopeful that the market rigging can be defeated this year.
JPMorgan sued by London trader fired over spoofing claim
Submitted by admin on Wed, 2021-04-14 12:12 Section: Daily DispatchesBy Jonathan Browning
Bloomberg News
via The Edge Markets, Petaling Jaya, Malaysia
Wednesday, April 14, 2021
A former JPMorgan Chase & Co trader who was fired over a spoofing allegation said he was dismissed only because the bank wanted to "appease" U.S. regulators following a scandal that cost the bank close to $1 billion in penalties.
Bradley Jones, a former cash equities trader, is suing the bank for unfair dismissal in London, saying that compliance officials ruled there was nothing suspicious about his trading only to revisit it three years later.
Ronan Manly: LBMA acknowledges severe shortage of silver
Submitted by admin on Wed, 2021-04-14 11:14 Section: Daily Dispatches11:10a ET Wednesday, April 14, 2021
Dear Friend of GATA and Gold:
Bullion Star's Ronan Manly writes today that after declaring that there was plenty of monetary metal around, the London Bullion Market Association has issued a report acknowledging scarcity of silver and the effectiveness of the recent "silver squeeze" campaign by the Reddit gang on social media.
Manly's analysis is headlined "LBMA Acknowledges 'Buying Frenzy' in Silver Market and Silver Shortage Fears" and it's posted at Bullion Star here:
Sprott Physical Gold and Silver Trust prepares to acquire another $1 billion in metal
Submitted by admin on Wed, 2021-04-14 00:45 Section: Daily DispatchesSprott Physical Gold and Silver Trust Updates Its 'At-The-Market' Equity Program
Company Announcement
via Globe Newswire, Omaha, Nebraska
Tuesday, April 13, 2021
Inflation is here already, Hemke says at Sprott Money and Russell says at GoldCore
Submitted by admin on Tue, 2021-04-13 20:37 Section: Daily Dispatches8:34p ET Tuesday, April 13, 2021
Dear Friend of GATA and Gold:
Writing at Sprott Money tonight, Craig Hemke of the TF Metals Report notes that as of today the official U.S. inflation rate is suddenly a percentage point above the interest rate of the benchmark 10-year U.S. Treasury bond, and thus U.S. real interest rates are officially and substantially negative. Yet, Hemke adds, gold is priced $300 lower than it was the last time this happened, last August.
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Ted Butler: BankAmerica suddenly becomes a big player in silver
Submitted by admin on Tue, 2021-04-13 13:56 Section: Daily DispatchesBy Ted Butler
Tuesday, April 13, 2021
Suddenly out of nowhere BankAmerica has emerged as a major participant in precious metals OTC derivatives.
This new fact is contained in the latest release of the Treasury Department's Office of the Comptroller of the Currency (OCC) Quarterly Derivatives Report for U.S. banks. The report covers derivatives contracts in the over the counter (OTC) market as opposed to exchange-traded options and COMEX gold and silver futures.
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A guess: Metals were smashed yesterday to offset today's bad inflation report
Submitted by admin on Tue, 2021-04-13 12:05 Section: Daily Dispatches12:09p ET Tuesday, April 13, 2021
Dear Friend of GATA and Gold:
Many people were wondering why gold and silver were smashed yesterday when there seemed to be no particular news unfavorable to the monetary metals.
So here is a guess.
... Dispatch continues below ...
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More razzle-dazzle hypothecation to divert investment from actual gold
Submitted by admin on Tue, 2021-04-13 11:14 Section: Daily DispatchesNew York Real Estate Mogul Secures $6 Billion in Gold to Back New Cryptocurrency
By Devon Pendleton
Bloomberg News
Tuesday, April 13, 2021
New York City real estate mogul Kent Swig has secured a minimum of $6 billion in gold reserves to back his new cryptocurrency.
The value of the digital token, DIGau, will be pegged to the market price of the precious metal, guaranteed by liens Swig and partner Stephen Braverman's company, Dignity Gold, secured against mining claims in Nevada and Arizona.
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