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Daily Dispatches
New Wyoming currency, the Goldback, is printed with actual gold
Submitted by admin on Fri, 2022-10-07 20:46 Section: Daily DispatchesBy Kevin Killough
Cowboy State Daily, Cheyenne, Wyoming
Monday, September 26, 2022
A private currency company is hoping its new Wyoming currency has the Midas touch for users.
Utah-based Goldback Inc. has released a Wyoming Series of its Goldback bills printed with physical gold in the currency, which the company says makes its value more stable than the U.S. dollar.
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Alasdair Macleod: The consequences of imploding credit
Submitted by admin on Thu, 2022-10-06 11:21 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, October 6, 2022
There is a growing realisation that the world faces a combination of persistent inflation of prices and a recession at the same time. The factors driving both are visibly intensifying. Those of us versed in the cycle of bank credit are aware that it is the contraction of bank balance sheets which is driving the recession, while it is continuing currency debasement driving inflation.
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Pam and Russ Martens: Wall Street banks double down on risk, sell credit default swaps
Submitted by admin on Thu, 2022-10-06 11:07 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, October 6, 2022
Last Thursday, while news outlets focused on videos of the devastating impact of Hurricane Ian on the southwest coast of Florida, two researchers at the Office of Financial Research published a breathtaking and almost surreal analysis of how the mega banks on Wall Street are once again doubling down on unprecedented risk with derivatives and threatening the financial stability of the United States.
The report was ignored by mainstream business media. ...
GATA's Ed Steer interviewed by Dave Russell of GoldCore
Submitted by admin on Tue, 2022-10-04 21:42 Section: Daily Dispatches9:42p Tuesday, October 4, 2022
Dear Friend of GATA and Gold:
GATA board member Ed Steer, publisher of Ed Steer's Gold and Silver Digest, is interviewed today by GoldCore's Dave Russell about the international financial markets, the depression he sees looming ahead, and the potential for the monetary metals and commodities to serve as havens against disaster.
The interview is 28 minutes long and can be heard at YouTube here:
Banks divert gold supply from India to China and Turkey
Submitted by admin on Tue, 2022-10-04 16:37 Section: Daily DispatchesBy Rajendra Jadhav
Reuters
Tuesday, October 4, 2022
MUMBAI -- Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focusing on China, Turkey, and other markets where better premiums are offered, three bank officials and two vault operators told Reuters.
That could create scarcity in the world's second-biggest market for gold, and force Indian buyers to start paying hefty premiums for supplies in the approaching peak-demand season.
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Turkish inflation tops 83% as Erdogan promises more interest rate cuts
Submitted by admin on Mon, 2022-10-03 12:07 Section: Daily DispatchesBy Laura Pitel
Financial Times, London
Monday, October 3, 2022
Turkey's official inflation rate climbed to a new 24-year high last month as the country reeled from President Recep Tayyip Erdoğan's unorthodox economic policy.
The consumer price index rose 83.45 per cent in September, according to data from the Turkish Statistical Institute, the highest level since July 1998 and up from 80.21 per cent the previous month. ...
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Pam and Russ Martens: Trouble with Credit Suisse causing panic among banks
Submitted by admin on Mon, 2022-10-03 11:18 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, October 3, 2022
The Swiss global bank, Credit Suisse, a derivatives counterparty to major Wall Street banks and U.S. insurers, raised alarm bells in markets on Friday and is raising more anxiety this morning. Its five-year credit default swap, a measurement of its risk of defaulting on its debt, jumped to 250 basis points on Friday and traded as high as 350 basis points in early trade today.
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Gold and silver are reviving so join GATA in New Orleans next week
Submitted by admin on Mon, 2022-10-03 10:22 Section: Daily DispatchesGATA Chairman Bill Murphy and your secretary/treasurer will be among the speakers.
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By Brien Lundin
Editor, Gold Newsletter
CEO, New Orleans Investment Conference
Wednesday, July 20, 2022
As a serious investor, you’re well aware of the unique challenges presented by today’s markets.
-- Central banks -- led by the Federal Reserve -- intent to fight off rising inflation with rate hikes.
USAGold's October letter finds some encouragement for the monetary metal
Submitted by admin on Mon, 2022-10-03 10:17 Section: Daily Dispatches10:17a ET Monday, October 3, 2022
Dear Friend of GATA and Gold:
USA Gold's October edition of its "News & Views" letter begins by asserting that "finding an encouraging word on the gold and silver markets isn't easy" -- and with heroic diligence proceeds to find a bunch of encouraging words.
The October edition is posted in the clear at USAGold here:
Relentless dollar rally raises chance of interventions, investors say
Submitted by admin on Mon, 2022-10-03 09:54 Section: Daily DispatchesNot much more would need to be done than to end the longstanding interventions against gold.
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By Liz McCormick, Simon White, and Matt Turner
Bloomberg News
Sunday, October 2, 2022
The U.S. dollar is expected to extend its gains, increasing speculation that governments will stage unusual market interventions to drive up the value of the currencies on the losing end of the trade.
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