You are here

Daily Dispatches

China's central bank, BIS set up renminbi liquidity arrangement

Section: Daily Dispatches

By Brenda Goh
Reuters
Saturday, July 25, 2022

https://www.reuters.com/markets/currencies/chinas-central-bank-bis-set-up-renminbi-liquidity-arrangement-2022-06-25/

SHANGHAI -- China's central bank said today it had signed an agreement with the Bank for International Settlements to establish a Renminbi Liquidity Arrangement that will provide support to participating central banks in times of market fluctuations.

Pam and Russ Martens: JPMorgan's derivatives surpass $60 trillion, a six-year high

Section: Daily Dispatches

But what if they are really U.S. government positions? This analysis notes that 100% of the bank's monetary metals derivatives and 96% of its foreign exchange derivatives are not centrally cleared. Might central clearing expose the government's connection?

* * *

By Pam and Russ Martens
Wall Street on Parade
Friday, June 224, 2022

Add JPMorgan Chase, the biggest bank in the United States with an unprecedented five criminal felony counts since 2014, to the growing list of debacles of which the Federal Reserve has lost control.

Russia, China, other BRICs plan challenge to dollar with new reserve currency

Section: Daily Dispatches

By George Glover
Insider, New York
Friday, June 24, 2022

Russia is ready to develop a new global reserve currency alongside China and other BRICS nations, in a potential challenge to the dominance of the US dollar.

President Vladimir Putin signaled the new reserve currency would be based on a basket of currencies from the group's members: Brazil, Russia, India, China, and South Africa.

... Dispatch continues below ...


... ADVERTISEMENT ...

Switzerland says Russian gold imports arrived from UK

Section: Daily Dispatches

By Eddie Spence
Bloomberg News
Friday, June 24, 2022

Gold recorded as originating from Russia arrived in Switzerland from the UK last month, according to the Swiss Federal Customs Administration.

More than 3 tons of gold -- worth about $200 million -- was recorded as being imported from Russia to Switzerland last month, according to customs data. The industry has been abuzz with speculation about the trade, especially after the association of Swiss refiners said its members hadn’t imported the metal.

... Dispatch continues below ...

GATA Chairman Murphy interviewed by Andrew Maguire on 'Live from the Vault'

Section: Daily Dispatches

9:14a ET Friday, June 24, 2022

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy is the guest in this week's interview with London metals trader Andrew Maguire on Kinesis Money's "Live from the Vault" program, discussing the longstanding manipulation of the gold and silver markets and GATA's work exposing it. The interview is 40 minutes long and can be viewed at YouTube here:

https://www.youtube.com/watch?v=BxSwl_7GOrY

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

Section: Daily Dispatches

9:48p ET Thursday, June 23, 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. 

Bank runs happening across China as depositors can't get at their money

Section: Daily Dispatches

By Nicole Hao
The Epoch Times, New York
Thursday, June 23, 2022

After nearly one million Chinese people were unable to access their bank deposits in central China's Henan province earlier this year, residents in east China's Shanghai, south China's Shenzhen, north China's Dandong, and central-east China's Jiujiang reported the difficulties they faced when trying to withdraw cash from their bank accounts.

John Authers: The age of central bank credibility is over

Section: Daily Dispatches

By John Authers
Bloomberg News
Thursday, June 23, 2022

Monetary regimes don't fall often. 

Half a century ago, in 1971, Richard Nixon ended the Age of Gold by formally eliminating the dollar's peg to the precious metal. Since then, the dollar and other currencies have rested on fiat -- they're worth something because governments say they are. 

You could call this the Age of Credibility. In place of gold, currency's anchor is the trust in the central banks that issue them. 

... Dispatch continues below ...

Alasdair Macleod: Russia is winning the financial war

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, June 23, 2022

Sanctions have backfired on those described by Vladimir Putin as the unfriendly nations. It is setting in train a series of events likely to undermine the whole Western financial system, as prices rise driving interest rates higher, and economic activity shrinks. These developments alone are leading to contracting bank credit, crashing stock markets, and sharply higher bond yields.

... Dispatch continues below ...


... ADVERTISEMENT ...

Swiss refiners say they didn't import mystery Russian gold

Section: Daily Dispatches

By Eddie Spence
Bloomberg News
Thursday, June 23, 2022

The industry association for Switzerland's gold refiners said its members didn't import gold from Russia last month, raising questions about who bought the country's precious metals.

Over 3 tons of gold -- worth about $200 million -- were shipped from Russia to Switzerland in May, almost all of which was marked as being for refining, according to data from the Swiss Federal Customs Administration. It was the first recorded shipment between the countries since February, when the war in Ukraine began.

Pages