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Daily Dispatches
Russian government plans to 'break the LBMA monopoly' on gold
Submitted by admin on Tue, 2022-08-16 11:30 Section: Daily DispatchesTreasury Proposes to Create Alternative to the London Precious Metals Standard
From Vzglyad
Institute for Socio-Economic and Political Studies, Moscow
Thursday, July 28, 2022
Via Google Translator
https://vz.ru/amp/news/2022/7/28/1169741.html
A new international standard for the precious metals market, the Moscow World Standard (MWS), should be created to become an alternative to the standard of the London Bullion Market Association (LBMA), the Russian Finance Ministry said.
The New Orleans conference is back in a big way, so join GATA there
Submitted by admin on Sun, 2022-08-14 22:10 Section: Daily DispatchesBy 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.
-- The markets responding with massive selloffs, sending a clear message to the Fed to lay off.
... Dispatch continues below ...
Nine in 10 Bank of England staffers get bonuses as inflation soars
Submitted by admin on Sun, 2022-08-14 19:12 Section: Daily DispatchesBy Laura Onita
The Telegraph, London
Sunday, August 14, 2022
Nine in 10 employees at the Bank of England were handed bonuses last year even as inflation soared beyond its 2% target.
A total of 4,263 workers, accounting for about 90% of its workforce, received a bonus last year, disclosures show. The highest payouts were between L15,000 and L20,000, with 34 members of staff getting rewards in this range.
... Dispatch continues below ...
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How the U.S. toppled the world's most powerful gold trader
Submitted by admin on Sun, 2022-08-14 11:22 Section: Daily DispatchesExcept that the world's most powerful gold traders are really the U.S Treasury Department, the Federal Reserve, and the Bank for International Settlements, for which JPMorgan Chase long has been executing trades.
* * *
How the U.S. Toppled the World's Most Powerful Gold Trader
Eddie Spence, Joe Deaux, and Tom Schoenberg
Bloomberg News
via Yahoo News, Sunnyvale, California
Sunday, August 14, 2022
When buying gold or silver, consider the dealers who support GATA
Submitted by admin on Fri, 2022-08-12 22:43 Section: Daily Dispatches10:43p ET Friday, August 12, 2022
Dear Friend of GATA and Gold:
Being the only forms of money without counterparty risk, at least when held directly by their owners, gold and silver are often seen as the foundation of a sound investment portfolio.
Spoofing trial indicated that JPMorgan traded gold for central banks, Maguire says
Submitted by admin on Fri, 2022-08-12 22:23 Section: Daily Dispatches10:28p ET Friday, August 12, 2022
Dear Friend of GATA and Gold:
Evidence in the trial of the former JPMorgan traders convicted of gold market manipulation this week indicated that the bank long has been trading the monetary metal for central banks and the Bank for International Settlements, London metals trader Andrew Maguire says in this week's "Live from the Vault" program from Kinesis Money.
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Ronan Manly: India's new gold exchange unlikely to influence prices
Submitted by admin on Thu, 2022-08-11 20:39 Section: Daily Dispatches8:40p ET Thursday, August 11 2022
Dear Friend of GATA and Gold:
Bullion Star gold researcher Ronan Manly tonight examines the new Indian International Bullion Exchange and concludes that it will be a while, if ever, before the exchange has any impact on the world price of the premier monetary metal.
... Dispatch continues below ...
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Relevant Gold Announces Trading,
Begins Drilling at Golden Buffalo Site
New Orleans conference will be spectacular in October, so join GATA there
Submitted by admin on Thu, 2022-08-11 14:10 Section: Daily DispatchesBy 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.
-- The markets responding with massive selloffs, sending a clear message to the Fed to lay off.
... Dispatch continues below ...
Morgan gold spoofers convicted of fraud were acquitted of racketeering
Submitted by admin on Thu, 2022-08-11 13:09 Section: Daily DispatchesEx-JPMorgan Traders Cleared of Racketeering, Found Guilty of Fraud
By Jody Godoy and Michelle Price
Reuters
Thursday, August 11, 2022
WASHINGTON -- Three former JPMorgan Chase & Co. employees were acquitted Wednesday of racketeering and conspiracy charges in a landmark futures manipulation trial, although two were found guilty on other charges including fraud, a Department of Justice spokesperson said.
Two of three JPMorgan gold traders convicted of market rigging via 'spoofing'
Submitted by admin on Wed, 2022-08-10 19:11 Section: Daily DispatchesBy Joe Deaux
Bloomberg News
Wednesday, August 10, 2022
The former head of the JPMorgan Chase & Co. precious-metals business and his top gold trader were convicted in Chicago on charges they manipulated markets for years, handing the US government a win in its long crackdown on bogus “spoofing” orders.
Michael Nowak and Gregg Smith were found guilty today by a federal jury after a three-week trial and more than eight days of deliberations.
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