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Daily Dispatches

When buying gold or silver, consider the dealers that support GATA

Section: Daily Dispatches

11:12p ET Tuesday, June 21, 2022

Dear Friend of GATA and Gold:

Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio. 

Ronan Manly: Russia mobilizes its gold for war, EU moves to block it

Section: Daily Dispatches

11:10p ET Tuesday, June 21, 2022

Dear Friend of GATA and Gold:

Bullion Star's Ronan Manly writes tonight that Russia appears to be preparing mechanisms for mobilizing its gold in support of war, while the European Union appears to be moving to prevent Russia from doing just that.

Manly's analysis is headlined "Russia Lines Up Its State Fund of Precious Metals for Military Mobilization" and it's posted at Bullion Star here:

After 15 years in mining he still says central banks leave gold alone

Section: Daily Dispatches

9:48p ET Tuesday, June 21, 2022

Dear Friend of GATA and Gold:

Maybe it's only what to expect from a stock-touting service, but today's commentary by Alastair Ford, senior equities reporter for Proactive Investor in London, is disappointing all the same insofar as it comes from someone claiming 15 years of experience in the mining sector.

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Craig Hemke at Sprott Money: The 'washed-out' silver futures market

Section: Daily Dispatches

By Craig Hemke
TF Metals Report
via Sprott Money, Toronto
Tuesday, June 21, 2022

Recent data from the U.S. Commodity Futures Trading Commission suggests that Comex silver positioning is the most favorable since June 2019.

While this does not preclude more downside, it certainly suggests that any further price drops will be shallow.

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Switzerland imports Russian gold for first time since Ukraine war

Section: Daily Dispatches

By Eddie Spence
Bloomberg News
Tuesday, June 21, 2022

Switzerland imported gold from Russia for the first time since the invasion of Ukraine, showing the industry's stance toward the nation’s precious metals may be softening. 

More than 3 tons of gold was shipped to Switzerland from Russia in May, according to data from the Swiss Federal Customs Administration. That's the first shipment between the countries since February.

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Robert Lambourne: Larry Summers' new study finds inflation is as bad as in the '80s

Section: Daily Dispatches

But today's U.S. debt burden is far worse, and so interest rate increases are far more dangerous.

* * *

By Robert Lambourne
Saturday, June 18, 2022

This month the National Bureau of Economic Research, based in Cambridge, Massachusetts, published a study titled “Comparing Past and Present Inflation":

https://www.nber.org/system/files/working_papers/w30116/w30116.pdf

And:

When buying gold or silver, please consider the dealers who support GATA

Section: Daily Dispatches

7:43p ET Saturday, June 18, 2022

Dear Friend of GATA and Gold:

Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio. 

Despite its negative rate, Swiss franc viewed as better than gold to beat inflation

Section: Daily Dispatches

By Helen Cahill
The Telegraph, London
Friday, June 17, 2022

The Swiss franc is now a better hedge against spiralling inflation than gold, according to bank analysts.

Deutsche Bank has said the Swiss franc is "better than gold" as a safe haven amid the cost-of-living crisis after the Swiss National Bank delivered a surprise 50 basis-point hike in interest rates.

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USA Gold: Coins and Bullion Since 1973

Pam and Russ Martens: Crypto and blockchain have been shams all along

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Friday, June 17, 2022

Crypto pushers hired themselves Trump's outgoing SEC Chairman, Jay Clayton; a boatload of celebrities like Matt Damon, LeBron James, Spike Lee, Tom Brady, and Alec Baldwin, among numerous others; and high-priced lobbyists to sway Congress and state legislatures to back off any regulatory push. Crypto even slapped its name on sports stadiums and arenas -- similar to Enron and Citigroup just before they blew up from specious business models.

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Alasdair Macleod: A perfect storm in banking is brewing

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, June 16, 2022

Now that interest rates are rising with much further to go, the global banking system faces a crisis on a scale like no other in history. Central banks loaded with financial securities acquired through quantitative easing face growing losses, and their balance sheet liabilities are now significantly greater than their assets -- a condition that in the private sector is termed bankruptcy. They will need to be recapitalised urgently to retain credibility.

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