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Daily Dispatches
Banks prepare to scrap LME gold and silver contracts, sources tell Reuters
Submitted by admin on Wed, 2021-10-13 23:48 Section: Daily DispatchesBy Peter Hobson and Pratima Desai
Reuters
Wednesday, October 13, 2021
LONDON -- A group of banks that partnered with the London Metal Exchange (LME) to launch gold and silver futures in 2017 is preparing to abandon the project after hoped-for volumes did not materialise, three sources with direct knowledge of the matter said.
Such a move would end an attempt by the LME, which dominates industrial metals trading, to capture part of London's bullion market, which is the world's largest with gold worth some $17 trillion changing hands last year.
Pam and Russ Martens: Quietly, the Fed identifies the banks that got billions in emergency loans in 2019
Submitted by admin on Wed, 2021-10-13 11:38 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Wednesday, Ocotber 13, 2021
The Federal Reserve Bank of New York has quietly posted the names of the banks that grabbed billions of dollars under the Fed's emergency repo loan operations that commenced on September 17, 2019 -- months before there was a COVID-19 crisis anywhere in the world.
Craig Hemke at Sprott Money: Comex gold ignores real yields
Submitted by admin on Tue, 2021-10-12 15:52 Section: Daily DispatchesBy Craig Hemke
Sprott Money, Toronto
Tuesday, October 12, 2021
Inflation-adjusted interest rates remain sharply negative, yet the COMEX gold price remains down on the year. On a historical basis, this is a very odd divergence, and it sets up an interesting trade as we move toward 2022.
Much has been made of the current drop in inflation-adjusted or "real" interest rates. And what are real interest rates? The rate of return a bondholder sees once inflation and loss of purchasing power is taken into account. ...
... For the remainder of the analysis:
Pam and Russ Martens: The Dallas Fed board is now complicit in the Robert Kaplan saga
Submitted by admin on Tue, 2021-10-12 12:03 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Tuesday, October 12, 2021
Last Wednesday the editorial board of the Financial Times of London penned an editorial under a headline that read: "The Fed's Trading Scandal Undermines Public Trust." The editorial noted that the president of the Dallas Fed, Robert Kaplan, "held stakes over $1 million each in 27 investments, and moved in and out of S&P 500 futures. The precise dates of his transactions are unknown as his form declaring financial interests merely gives 'multiple' as the timeframe."
The world's greatest investment event is coming to you
Submitted by admin on Mon, 2021-10-11 21:08 Section: Daily DispatchesBy Brien Lundin
Editor, Gold Newsleter
CEO, New Orleans Investment Conference
Monday, October 11, 2021
Dear Fellow Investor:
I'm writing you today for two very important reasons.
The first is a warning.
I've spent 36 years in this business, watching the markets on a daily basis, consulting with some of the world's most insightful analysts and witnessing some of the most tumultuous markets in history.
And I don't know that I've ever seen a setup as worrisome as what lies directly ahead.
Ronan Manly: Poland's central bank plans to accelerate accumulation of gold
Submitted by admin on Sun, 2021-10-10 12:34 Section: Daily DispatchesBy Ronan Manly
Bullion Star, Singapore
Friday, October 8, 2021
Poland's central bank, the National Bank of Poland (NBP), which stunned gold markets back in 2019 when it purchased 100 tonnes of gold bars in London and then promptly flew the gold back to Warsaw, has just confirmed that it now plans to buy another 100 tonnes of gold during 2022.
Wall Street Silver interviews GATA's Steer on monetary metals price suppression
Submitted by admin on Sat, 2021-10-09 11:34 Section: Daily Dispatches11:27a ET Saturday, October 9, 2021
Dear Friend of GATA and Gold:
GATA board member Ed Steer, editor of Ed Steer's Gold and Silver Digest, interviewed this week by Ivan Bayoukhi and Jim Lewis of Wall Street Silver, noted the glaring dichotomy between commodity prices generally, which are soaring, and the prices of gold and silver, which have been falling. Despite the continued suppression of monetary metals prices, Steer thinks governments and central banks are trying to unwind it.
Lost in the 'Twilight Zone,' Peter Schiff can't understand why gold doesn't keep up with inflation
Submitted by admin on Fri, 2021-10-08 12:18 Section: Daily Dispatches12:21p ET Friday, October 8, 2021
Dear Friend of GATA and Gold:
Market analyst, fund manager, and gold advocate Peter Schiff can't figure out why the price of gold isn't soaring along with inflation. His comments came yesterday in his podcast, which is headlined "This Is a Real Twilight Zone" and can be found at the Schiff Gold internet site here:
https://schiffgold.com/peters-podcast/peter-schiff-this-is-a-real-twilight-zone/
Alasdair Macleod: The government funding challenges ahead
Submitted by admin on Thu, 2021-10-07 14:39 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, October 7, 2021
This article looks at the Federal Reserve’s funding challenges in the new fiscal year for the United States government, which commenced on 1 October.
There are three categories of buyers for U.S. federal debt: the financial and non-financial private sector, foreigners, and the Fed. The banks in the financial sector have limited capacity to expand bank credit, and U.S. consumers are being encouraged to spend, not save.
... Dispatch continues below ...
Jan Nieuwenhuijs: The mechanics of the global gold market
Submitted by admin on Thu, 2021-10-07 13:49 Section: Daily Dispatches1:47p ET Thursday, October 7, 2021
Dear Friend of GATA and Gold:
After taking a break for a few months, The Gold Observer's Jan Nieuwenhuijs is back with an excellent primer on the structure of the gold market, to which we can only add that this structure allows central banks and bullion banks to sell and lease to the unsuspecting world a lot more gold than there turns out to be.
Nieuwenhuijs' report is headlined "The Mechanics of the Global Gold Market" and it's posted at The Gold Observer here:
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