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Daily Dispatches
Robert Lambourne: BIS gold swaps fell slightly in December; no hint of 'Basel III' influence
Submitted by admin on Sun, 2022-01-09 14:06 Section: Daily DispatchesBy Robert Lambourne
Sunday, January 9, 2022
The recently released December statement of account of the Bank for International Settlements --
https://www.bis.org/banking/balsheet/statofacc211231.pdf
-- contains information suggesting a decrease of about 37 tonnes in the bank's gold swaps, from 451 tonnes in November to 414 tonnes in December.
This compares to the record high estimated at 552 tonnes as of February 25 this year.
Sri Lanka sells monetary gold as forex reserves drop
Submitted by admin on Sat, 2022-01-08 17:45 Section: Daily DispatchesFrom Economy Next, Columbo, Sri Lanka
Saturday, January 8, 2022
Sri Lanka liquidated a part of its gold holdings in December 2020 to boost liquid foreign assets in line with a drop in annual foreign reserves holdings, Central Bank Governor Nivard Cabraal said, even as year-end reserves were boosted with a swap from China.
The central bank is estimated to have sold about 3.6 tonnes out of a 6.69 tonne stockpile of gold (about 215,000 troy ounces) it had at the beginning of 2021, leaving it with around 3.0 to 3.1 tonnes of gold.
Pam and Russ Martens: Fed's repo loans propped up Deutschebank and its counterparties
Submitted by admin on Fri, 2022-01-07 11:40 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Friday, January 7, 2022
Nine days ago the Fed released the names of the Wall Street trading houses that had borrowed a cumulative total of $4.5 trillion in emergency repo loans from the Fed during just the last quarter of 2019.
From September 17, 2019, through July 2, 2020, the same banks had borrowed a cumulative total of $11.23 trillion.
Alasdair Macleod: Money supply and rising interest rates
Submitted by admin on Thu, 2022-01-06 12:56 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, January 6, 2021
The establishment, including the state, central banks and most investors are thoroughly Keynesian, the latter category having profited greatly in recent decades from their slavish following of the common meme.
That is about to change. The world of continual Keynesian stimulus is coming to its inevitable end with prices rising beyond the authorities' control. Being blinded by neo-Keynesian beliefs, no one is prepared for it.
... Dispatch continues below ...
Brien Lundin: Inflation spooks the Fed but too late to stop gold
Submitted by admin on Wed, 2022-01-05 16:47 Section: Daily DispatchesBy Brien Lundin, Editor
Gold Newsletter / Golden Opportunities
New Orleans, Louisiana
Wednesday, January 4, 2021
Gold rallied over the last couple of days, essentially regaining all that it had lost on Monday’s sell-off. And then the Fed minutes were released.
Amazingly, the minutes showed that Federal Reserve officials and economists had apparently just discovered the rampant price inflation that everyone else had been talking about for months.
... Dispatch continues below ...
How a gold-mining merger tightened a company's hold on northern Nevada
Submitted by admin on Tue, 2022-01-04 23:55 Section: Daily DispatchesBy Daniel Rothberg and Nick Bowlin
The Nevada Independent, Las Vegas
Monday, January 3, 2022
In the final days of 2019, Ches Carney noticed something strange on the bulletin boards at the northern Nevada gold mines where he had worked for nearly three decades. Stores in the nearby town of Elko were playing holiday music, but Carney was upset: The labor union documents normally posted to bulletin boards had disappeared.
Craig Hemke at Sprott Money: A new year for Comex gold
Submitted by admin on Tue, 2022-01-04 20:22 Section: Daily Dispatches8:22p ET Tuesday, January 4, 2022
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing at Sprott Money, notes tonight that the last time the Federal Reserve entered a cycle of raising interest rates, gold rose steadily. He adds that it's common enough for gold to have a bad year during a bull market, it's rare for gold to have two bad years in a row.
Hemke's analysis is headlined "A New Year for Comex Gold" and it's posted at Sprott Money here:
India more than doubled its gold imports in 2021
Submitted by admin on Tue, 2022-01-04 14:22 Section: Daily DispatchesNo wonder gold's price went down, right? After all, in mainstream financial journalism, anything can rationalize a decline in the gold price -- rain in Peoria or snow in Sweden.
* * *
India Spent Record $55.7 Billion on Gold Imports in 2021
By Rajendra Jadhav
Reuters
Tuesday, January 4, 2021
USAGold's 'News & Views' letter for January
Submitted by admin on Mon, 2022-01-03 11:01 Section: Daily Dispatches10:48a ET Monday, January 3, 2022
Dear Friend of GATA and Gold:
USAGold's "News & Views" letter for January contains more gold-related views than ever, including some from billionaires who haven't given up on the monetary metal. The letter is posted in the clear at USAGold's internet site here:
https://www.usagold.com/nv1037january2022/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Pam and Russ Martens: There's a news blackout on banks that got Fed's emergency repo loans
Submitted by admin on Mon, 2022-01-03 10:12 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, January 3, 2022
Four days ago the Federal Reserve released the names of the banks that had received $4.5 trillion in cumulative loans in the last quarter of 2019 under its emergency repo loan operations for a liquidity crisis that has yet to be credibly explained.
Among the largest borrowers were JPMorgan Chase, Goldman Sachs and Citigroup, three of the Wall Street banks that were at the center of the subprime and derivatives crisis in 2008 that brought down the U.S. economy.
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