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Daily Dispatches
Pam and Russ Martens: Atlanta Fed president hid his trades as Fed rescued Wall Street
Submitted by admin on Mon, 2022-10-17 11:09 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, October 17, 2022
It was one year ago that Wall Street On Parade raised a multitude of red flags about Raphael Bostic, the president of the Federal Reserve Bank of Atlanta. We have published the entirety of that article below so that our readers can see just how long it took both Bostic and the Atlanta Fed to come clean with the American people about his trading on Wall Street.
China state banks step up dollar sales to support renminbi
Submitted by admin on Mon, 2022-10-17 10:58 Section: Daily DispatchesBy Hudson Lockett
Financial Times, London
Monday, October 17, 2022
China's state banks stepped up selling of the dollar today, supporting the renminbi against the surging U.S. currency as the Chinese Communist Party's 20th congress got under way in Beijing.
Traders in China said large state-run banks were swapping renminbi for U.S. dollars in the country’s forwards market, then selling the dollars in the country's onshore markets in an intervention to bolster the domestic currency.
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G7 fails to reach intervention deal to ease pain of soaring dollar
Submitted by admin on Sun, 2022-10-16 20:56 Section: Daily DispatchesBy Leika Kihara
Reuters
Sunday, October 16, 2022
WASHINGTON -- Japan and other countries facing the fallout from a soaring U.S. dollar found little comfort from last week's meetings of global finance officials, with no sign that joint intervention along the lines of the 1985 "Plaza Accord" was on the horizon.
With a strong push from Japan, finance leaders of the Group of Seven advanced economies included a phrase in a statement on Wednesday saying they will closely monitor "recent volatility" in markets.
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World Gold Council has plan to dematerialize gold market even more
Submitted by admin on Sun, 2022-10-16 12:11 Section: Daily DispatchesA Digital Drive to Reform the $11 Trillion Global Gold Market
By Eddie Spence and Ranjeetha Pakiam
Bloomberg News
Sunday, October 16, 2022
Trading on one of the world's oldest markets depends on a network of high-security vaults located underneath Greater London. There, some 50,000 gold bars, each worth more than $650,000, change hands every day among the four big banks in charge of processing transactions.
How sound money won the Battle of Yorktown and saved the American Revolution
Submitted by admin on Sat, 2022-10-15 23:25 Section: Daily DispatchesBy Lawrence W. Reed
Foundation for Economic Education, Atlanta, Georgia
Saturday, October 15, 2022
Early this month, U.S. Rep. Alex Mooney of West Virginia introduced the Gold Standard Restoration Act (H.R. 9157). If enacted into law, it would require public disclosure of the federal government's gold holdings and eventually define the dollar as a weight of gold.
Ted Butler: Stand up against market manipulation and make a difference
Submitted by admin on Fri, 2022-10-14 23:44 Section: Daily DispatchesBy Ted Butler
SilverSeek.com
Friday, October 14, 2022
If you are tired of witnessing silver (and gold) continuing to be manipulated in price, here's a no-cost, no-risk, high-potential return action you can take that will only involve a few minutes of your time. Quite literally, there's absolutely nothing to lose and quite a lot of potential good to be had.
Jan Nieuwenhuijs: Europe has been preparing a gold standard since the 1970s
Submitted by admin on Fri, 2022-10-14 11:22 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainesville Coins, Lutz, Florida
Friday, October 14, 2022
There is more evidence of how European central banks are equalizing their monetary gold reserves proportionally to Gross Domestic Product.
Secret agreements make countries sell or buy gold to balance gold reserves within Europe, and relative to large economies abroad.
Wary of U.S. dollar hegemony, Chinese state researchers float idea of a pan-Asian digital currency
Submitted by admin on Fri, 2022-10-14 09:53 Section: Daily DispatchesBy Frank Tang
South China Morning Post, Hong Kong
Thursday, October 13, 2022
The conditions are right for the establishment of a pan-Asian digital currency that could enhance regional monetary cooperation and loosen reliance on the U.S. dollar, Chinese state researchers say.
The idea of an Asia-wide digital token comes as Beijing tries to consolidate its economic influence in the region and its position as a global leader in digital currency development.
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UK's Royal Mint lifted by market turmoil as demand for gold surges
Submitted by admin on Thu, 2022-10-13 17:13 Section: Daily DispatchesBy Daniel Thomas
Financial Times, London
Thursday, October 13, 2022
Market turmoil during the past year has boosted the performance of the Royal Mint as demand for gold coins and precious metals surged, pushing the profits of the UK's oldest surviving manufacturer to a record high.
The wholly state-owned company has supplied the country's coins since the reign of King Alfred the Great more than 1,100 years ago. But in its modern form it has expanded into sales of precious metals, historic coins, jewellery, and luxury collectibles.
Alasdair Macleod: Banking crisis prompts the great unwind
Submitted by admin on Thu, 2022-10-13 12:11 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, October 13, 2022
There is a growing feeling in markets that a financial crisis of some sort is now on the cards. Credit Suisse's very public struggle to refinance itself is proving to be a wake-up call for markets, alerting investors to the parlous state of global banking.
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