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Daily Dispatches
Biden's trillion-dollar debt reduction barely dents U.S. debt
Submitted by admin on Mon, 2022-03-28 22:25 Section: Daily DispatchesBy Steven T. Dennis
Bloomberg News
Monday, March 28, 2022
President Joe Biden’s budget request highlights shrinking cumulative deficits by more than $1 trillion over the next decade, but that barely makes a dent in the government’s ballooning debt.
Biden’s 10-year outlook still would rack up $14.4 trillion in deficits -- most of it on autopilot -- even after accounting for that $1 trillion in net deficit cuts from new policies like tax increases on the wealthy and corporations.
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1839 gold medal of Revolutionary War general called 'shocking and important discovery'
Submitted by admin on Mon, 2022-03-28 21:55 Section: Daily DispatchesFrom CBS News, New York
Monday, March 28, 2022
When numismatist John Kraljevich of Fort Mill, South Carolina opened a box containing a unique solid gold medal that an auction house asked him to authenticate, his jaw dropped.
"My reaction was somewhere along the lines of, holy (expletive)," Kraljevich said. "As soon as I laid my eyes on it, I knew what it was."
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Brett Arends: Russia just made a case for owning gold -- and nobody noticed
Submitted by admin on Mon, 2022-03-28 21:48 Section: Daily DispatchesBy Brett Arends
MarketWatch, New York
Monday, March 28, 2022
Here's a strong argument for adding some gold bullion to your retirement portfolio right now, alongside those stocks and bonds.
And it comes courtesy of Pavel Zavalny, the head of the Russian parliament.
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Bullion groups launch gold bar database to thwart fraud
Submitted by admin on Mon, 2022-03-28 21:41 Section: Daily DispatchesBy Peter Hobson
Reuters
Monday, March 28, 2022
LONDON -- Two gold industry associations are working with miners, refiners, traders, and shippers to create a database of gold bars in an effort to prevent trade in counterfeit metal and allow buyers of bullion to trace its origin, they said today.
The scheme aims to exclude gold linked to violence and crime from the mainstream market. Gold worth billions of dollars is mined each year in illegal conditions and large amounts are sold by groups including warlords and drug traffickers.
Resuming gold purchases, Russia sets fixed price below world market
Submitted by admin on Mon, 2022-03-28 21:33 Section: Daily DispatchesBy Anna Golubova
Kitco News, Montreal
Monday, March 28, 2022
Russia's central bank resumed its gold purchases from local banks today, but it set a fixed price on the precious metal.
Starting this week the Russian central bank will pay a fixed price of 5,000 roubles ($52) per gram between March 28 and June 30, the bank said on Friday. This is below the current market value of around $68.
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Russia's 'nuclear option' isn't bombs but gold, London trader Maguire says
Submitted by admin on Sat, 2022-03-26 11:55 Section: Daily Dispatches11:55a ET Saturday, March 26, 2022
Dear Friend of GATA and Gold:
Russia, London metals trader Andrew Maguire says in his weekly interview with Shane Morand for Kinesis Money, is moving steadily toward using its "nuclear option" in its conflict with the West over Ukraine. That option, Maguire says, doesn't involve bombs but rather demanding gold as payment for Russia's oil and gas exports.
Western sanctions against Russia, Maguire adds, are tightening gold supplies and putting gold derivatives in danger.
Ambrose Evans-Pritchard: China's coal revival may soon slash our energy bills but at wicked cost
Submitted by admin on Sat, 2022-03-26 10:57 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Friday, March 25, 2022
It would be a grim irony if the Chinese Communist Party rescues Europe from an energy shock this year by shovelling wagons of coal from the mines of Shanxi and Inner Mongolia, trashing the planet in the process.
Citigroup thinks this is exactly what may now happen. Surging coal use in China will displace imports of liquefied natural gas (LNG) used in power plants, freeing up hydrocarbons for the rest of the world.
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Dollar reserve system frays with India-Russia currency deals
Submitted by admin on Sat, 2022-03-26 10:50 Section: Daily DispatchesBy David P. Goldman
Asia Times, Hong Kong
Saturday, March 26, 2022
Russia and India took a small but important step toward non-dollar trade financing and investment on Friday when the Reserve Bank of India allowed Russia to invest the proceeds of its arms sales to India in local-currency corporate bonds.
Russia's account with India's central bank is small, with a reported balance of US$262 million, but the prospective advantages to both countries are enormous.
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Russian central bank will resume buying gold from banks, doing so at fixed price
Submitted by admin on Sat, 2022-03-26 10:34 Section: Daily DispatchesFrom Reuters
Friday, March 25, 2022
The Russian central bank will restart buying gold from banks and will pay a fixed price of 5,000 roubles ($52) per gram between March 28 and June 30, the bank said today.
Brien Lundin: Sanctioning Russia's gold reserves may boomerang against U.S.
Submitted by admin on Fri, 2022-03-25 21:59 Section: Daily DispatchesBy Brien Lundin
Gold Newsletter, Metairie, Louisiana
https://goldnewsletter.com/
Thursday, March 25, 2022
Any U.S. sanctions on Russia's gold reserves would do little more than reveal the degree to which government bureaucrats don't understand gold.
The beauty of gold, unlike currencies, is that it is an untrackable store of value that has no counterparty.
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