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Daily Dispatches
African banks set up shop in China as Beijing pushes for yuan to eclipse U.S. dollar
Submitted by admin on Sat, 2024-12-07 22:28 Section: Daily DispatchesBy Jevans Nyabiage
South China Morning Post, Hong Kong
Saturday, December 7, 2024
Africa's top lenders are opening branches in major Chinese cities in a race to tap into growing trade ties between China and Africa amid Beijing's push for yuan-based transactions.
This is despite threats from the United States, where president-elect Donald Trump has said he will impose 100% tariffs on BRICs countries that pursue de-dollarisation.
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Chinese central bank resumes reporting gold purchases
Submitted by admin on Sat, 2024-12-07 09:20 Section: Daily DispatchesReuters keeps pretending they stopped.
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China's Central Bank Resumes Gold Purchases After Six-Month Hiatus
By Polina Devitt, Qiaoyi Li, Ryan Woo, and Winni Zhou
Reuters
Saturday, December 7, 2024
SHANGHAI -- China's central bank resumed buying gold for its reserves in November after a six-month pause, official data by the People's Bank of China showed today.
Rouble rebounds past 100 vs. dollar after Putin's gas payments decree
Submitted by admin on Fri, 2024-12-06 19:00 Section: Daily DispatchesBy Gleb Bryanski and Elena Fabrichnaya
Reuters
Fridqy, December 6, 2024
MOSCOW -- The Russian rouble rebounded past 100 to the U.S. dollar, trading at 99.50 on Friday, after a decree by President Vladimir Putin which opened new payment options for European buyers of Russian gas, allowing foreign currency flows to resume.
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CME to offer 1-ounce gold futures to divert retail demand from real metal
Submitted by admin on Fri, 2024-12-06 09:05 Section: Daily DispatchesCME to Offer 1-Ounce Gold Futures to Meet Surging Demand From Retail Traders
By Yvonne Yue Li
Bloomberg News
via Yahoo News, Sunnyvale, California
Thursday, December 5, 2024
CME Group Inc. will start offering a one-ounce gold futures contract in January to meet surging demand from retail investors amid bullion's record-breaking rally.
Fed chairman's brazen lies about gold go unchallenged at NY Times conference
Submitted by admin on Fri, 2024-12-06 08:49 Section: Daily Dispatches8:54a ET Friday, December 6, 2024
Ðear Friend of GATA and Gold:
Money Metals writer Mike Maharrey yesterday shot down the laughable assertion made this week by Federal Reserve Chairman Jerome Powell that bitcoin is, "like gold," merely a "speculative asset" and thus a competitor with gold, not the dollar, because people aren't using bitcoin for payments or as a store of value.
Mali issues arrest warrant for Barrick Gold CEO Bristow
Submitted by admin on Thu, 2024-12-05 23:52 Section: Daily DispatchesBy Katarina Höije and William Clowes
Bloomberg News
via Yahoo News, Sunnyvale, California
Thursday, December 5, 2024
Mali's military-controlled government has issued an arrest warrant for money laundering against Barrick Gold Corp. Chief Executive Officer Mark Bristow amid an escalating dispute over mine revenues in the West African nation.
The authorities in Mali are also seeking to arrest Abbas Coulibaly, the general manager of the Canadian mining company's Loulo-Gounkoto complex, according to people familiar with the matter.
Jan Nieuwenhuijs: Repatriated gold reaches historic highs
Submitted by admin on Thu, 2024-12-05 13:26 Section: Daily DispatchesBy Jan Nieuwenhuijs
Money Metals Exchange, Eagle, Idaho
Thursday, December 5, 2024
The share of global official gold reserves NOT stored at the Federal Reserve Bank of New York and Bank of England in London has reached 78% in 2024, from 51% in 1972.
The shift in this ratio appears to be accelerating and can be seen as a proxy for the West’s decline in financial dominance.
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From the New Orleans Investment Conference: The future of money
Submitted by admin on Thu, 2024-12-05 11:51 Section: Daily DispatchesBy Brien Lundin
Gold Newsletter/Golden Opportunities
New Orleans Investment Conference
Metairie, Louisiana
Thursday, December 5, 2024
This year's 50th anniversary New Orleans Conference was packed full of highlights, but one of the best was our Future of Money Panel.
This is always a thought-provoking panel, and over recent years it has featured a number of today's most insightful monetary and macroeconomic experts exploring big ideas and providing compelling forecasts.
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Bitcoin is a competitor for gold, not dollar, Fed chairman says
Submitted by admin on Wed, 2024-12-04 18:01 Section: Daily DispatchesBy Rocio Fabbro
Quartz, New York
Wednesday, December 4, 2024
While cryptocurrency fans like to float bitcoin as a possible replacement for the U.S. dollar, Federal Reserve Chairman Jerome Powell doesn't quite see it that way.
Speaking today at The New York Times DealBook Summit in Manhattan, the central banker said bitcoin is a speculative asset like gold rather than something comparable to a currency.
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Putin questions need for dollar forex reserves, touts bitcoin -- and omits gold
Submitted by admin on Wed, 2024-12-04 13:09 Section: Daily DispatchesBut then why build up an asset if you're trying to acquire it?
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By Gleb Bryanski
Reuters
Wednesday, December 4, 2024
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