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Daily Dispatches
Ex-JPMorgan gold trader found guilty in spoofing trial
Submitted by admin on Fri, 2022-12-09 17:22 Section: Daily DispatchesBy Joe Deaux and Kim Chipman
Bloomberg News
Friday, December 9, 2022
Former JPMorgan Chase & Co. gold and silver trader Christopher Jordan today was convicted of wire fraud affecting a financial institution by a federal jury in Chicago, the latest win for U.S. prosecutors in their crackdown on illegal "spoofing" trades and market manipulation.
Alasdair Macleod: The debate between gold and bitcoin in 2023
Submitted by admin on Fri, 2022-12-09 10:49 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Friday, December 9, 2022
The FTX scandal has thrown the future of cryptocurrencies into doubt. Supporters of bitcoin, which has proved to be remarkably robust at a time when the whole cryptocurrency ecosystem is threatened by scandal and systemic collapse, are still asserting that it is the future money.
Gold hits record in Pakistan as economic woes spur buying frenzy
Submitted by admin on Thu, 2022-12-08 08:44 Section: Daily DispatchesBy Faseeh Mangi and Ismail Dilawar
Bloomberg News
Wednesday, December 7, 2022
Gold prices in Pakistan surged to a record as people took refuge in the safe-haven metal on mounting concerns that the nation’s economic conditions will deteriorate further.
China reveals gold buying after quarter of mystery purchases
Submitted by admin on Wed, 2022-12-07 21:16 Section: Daily DispatchesThis is so silly and pathetic. How much gold did Chinese state banks and other enterprises purchase in the last three years, holding it off the books of the People's Bank of China? None? Does Bloomberg really think that China (or any rival of the United States) will be honest about its gold investories with the International Monetary Fund, the compiler of official gold reserve data and an instrument of U.S. dollar imperialism? At least Bloomberg could raise the question of unreported gold purchases by Chinese state agencies -- if the news agency ever wanted to get real.
Dave Kranzler: Why is gold a good inflation hedge?
Submitted by admin on Wed, 2022-12-07 15:36 Section: Daily DispatchesBy Dave Kranzler
Investment Research Dynamics, Denver
via Kinesis Money, London
Wednesday, December 7, 2022
With inflation raging and the price of gold seemingly not keeping pace with rising rates, articles suggesting that gold is no longer a valid hedge against inflation or preservation of wealth assets have proliferated in the mainstream financial media.
Robert Lambourne: BIS gold swaps reverse sharply upward as metal's price rises
Submitted by admin on Wed, 2022-12-07 15:09 Section: Daily DispatchesBy Robert Lambourne
Wednesday, December 7, 2022
On November 10 my most recent commentary on the gold swaps of the Bank for International Settlements noted that "after 12 years in the gold swap business, the BIS seems to have just about gotten out":
It goes to show how wrong you can be, since the bank's November statement of account, just published --
Craig Hemke at Sprott Money: Finding order in chaos
Submitted by admin on Wed, 2022-12-07 10:53 Section: Daily DispatchesBy Craig Hemke
Sprott Money,Toronto
Wednesday, December 7, 2022
It's that time of year when analysts and prognosticators begin issuing their forecasts for the year to come. This is always challenging business, and predicting 2023 promises to be even more difficult than usual.
'Huge, missing, and growing': $65 trillion in dollar debt sparks concern
Submitted by admin on Tue, 2022-12-06 08:56 Section: Daily DispatchesBy Greg Ritchie
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, December 5, 2022
There's a hidden risk to the global financial system embedded in the $65 trillion of dollar debt being held by non-US institutions via currency derivatives, according to the Bank for International Settlements.
India's trade ministry seeks to cut gold tariff to curb smuggling
Submitted by admin on Mon, 2022-12-05 21:17 Section: Daily DispatchesBy Ruchi Bhatia and Adrija Chatterjee
Bloomberg News
Monday, December 5, 2022
India’s trade ministry is discussing a reduction in import taxes on gold to rein in illegal shipments, according to people familiar with the matter.
Crypto broker Genesis owes Winklevoss exchange's customers $900 million
Submitted by admin on Sun, 2022-12-04 11:19 Section: Daily DispatchesBy Nikou Asgeri and Joshua Oliver
Financial Times, London
Saturday, December 3, 2022
Digital asset trading group Genesis and its parent company Digital Currency Group owe customers of the Winklevoss twins' crypto exchange $900 million as the collapse of FTX reverberates across the market.
New York crypto exchange Gemini, run by Tyler and Cameron Winklevoss, is trying to recover the funds after Genesis was wrongfooted by last month's failure of Sam Bankman-Fried's FTX crypto group, according to people familiar with the matter.
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