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Daily Dispatches
Alasdair Macleod: Money supply and rising interest rates
Submitted by admin on Thu, 2022-01-06 12:56 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, January 6, 2021
The establishment, including the state, central banks and most investors are thoroughly Keynesian, the latter category having profited greatly in recent decades from their slavish following of the common meme.
That is about to change. The world of continual Keynesian stimulus is coming to its inevitable end with prices rising beyond the authorities' control. Being blinded by neo-Keynesian beliefs, no one is prepared for it.
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Brien Lundin: Inflation spooks the Fed but too late to stop gold
Submitted by admin on Wed, 2022-01-05 16:47 Section: Daily DispatchesBy Brien Lundin, Editor
Gold Newsletter / Golden Opportunities
New Orleans, Louisiana
Wednesday, January 4, 2021
Gold rallied over the last couple of days, essentially regaining all that it had lost on Monday’s sell-off. And then the Fed minutes were released.
Amazingly, the minutes showed that Federal Reserve officials and economists had apparently just discovered the rampant price inflation that everyone else had been talking about for months.
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How a gold-mining merger tightened a company's hold on northern Nevada
Submitted by admin on Tue, 2022-01-04 23:55 Section: Daily DispatchesBy Daniel Rothberg and Nick Bowlin
The Nevada Independent, Las Vegas
Monday, January 3, 2022
In the final days of 2019, Ches Carney noticed something strange on the bulletin boards at the northern Nevada gold mines where he had worked for nearly three decades. Stores in the nearby town of Elko were playing holiday music, but Carney was upset: The labor union documents normally posted to bulletin boards had disappeared.
Craig Hemke at Sprott Money: A new year for Comex gold
Submitted by admin on Tue, 2022-01-04 20:22 Section: Daily Dispatches8:22p ET Tuesday, January 4, 2022
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report, writing at Sprott Money, notes tonight that the last time the Federal Reserve entered a cycle of raising interest rates, gold rose steadily. He adds that it's common enough for gold to have a bad year during a bull market, it's rare for gold to have two bad years in a row.
Hemke's analysis is headlined "A New Year for Comex Gold" and it's posted at Sprott Money here:
India more than doubled its gold imports in 2021
Submitted by admin on Tue, 2022-01-04 14:22 Section: Daily DispatchesNo wonder gold's price went down, right? After all, in mainstream financial journalism, anything can rationalize a decline in the gold price -- rain in Peoria or snow in Sweden.
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India Spent Record $55.7 Billion on Gold Imports in 2021
By Rajendra Jadhav
Reuters
Tuesday, January 4, 2021
USAGold's 'News & Views' letter for January
Submitted by admin on Mon, 2022-01-03 11:01 Section: Daily Dispatches10:48a ET Monday, January 3, 2022
Dear Friend of GATA and Gold:
USAGold's "News & Views" letter for January contains more gold-related views than ever, including some from billionaires who haven't given up on the monetary metal. The letter is posted in the clear at USAGold's internet site here:
https://www.usagold.com/nv1037january2022/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Pam and Russ Martens: There's a news blackout on banks that got Fed's emergency repo loans
Submitted by admin on Mon, 2022-01-03 10:12 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Monday, January 3, 2022
Four days ago the Federal Reserve released the names of the banks that had received $4.5 trillion in cumulative loans in the last quarter of 2019 under its emergency repo loan operations for a liquidity crisis that has yet to be credibly explained.
Among the largest borrowers were JPMorgan Chase, Goldman Sachs and Citigroup, three of the Wall Street banks that were at the center of the subprime and derivatives crisis in 2008 that brought down the U.S. economy.
Robert Lambourne: An extraordinary rise in U.S. debt in just the last two weeks
Submitted by admin on Sun, 2022-01-02 16:47 Section: Daily DispatchesBy Robert Lambourne
Sunday, January 2, 2022
The debt of the U.S. federal government is a factor that should affect the price of gold since the U.S. dollar is the world reserve currency. Recent developments in the level of the federal government debt are perplexing and it appears that debt levels are increasing rapidly, but presumably some of this is due to efforts to suppress reported debt levels below the official debt limit prior to its increase on December 16, 2021.
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Alasdair Macleod: The ugly side of Triffin
Submitted by admin on Fri, 2021-12-31 21:13 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Friday, December 31, 2021
Following the Lehman crisis, it became fashionable to cite the Triffin dilemma as justification for inflationary U.S. policies and why they would not undermine the U.S. dollar in the foreign exchanges.
But far from being simply a justification for continual dollar trade deficits, Triffin correctly described a situation that was bound to lead to problems for a reserve currency.
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Ted Butler: Bank of America's silver short position is even larger than he thought
Submitted by admin on Thu, 2021-12-30 22:30 Section: Daily Dispatches10:36p ET Thursday, December 30, 2021
Dear Friend of GATA and Gold:
Following up today on his commentary earlier this week on the latest gold and silver derivatives report from the U.S. Office of the Comptroller of the Currency, silver market analyst Ted Butler suggests that Bank of America may have sold short as many as 800 million ounces of silver.
Such an amount, Butler notes, probably can't be repaid in any practical sense, and if the silver price rises, the bank would lose billions of dollars.
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