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Daily Dispatches
Pam and Russ Martens: Fed report shows a spike in repo loans warns of market crash
Submitted by admin on Thu, 2021-08-12 11:18 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Thursday, August 12, 2021
On July 29 the Federal Reserve released its annual report for 2020. ahe Appendix contains 13 statistical tables that would make most folks’ eyes glaze over.
Table G.5A., however, is worthy of a glass of good wine, a comfy armchair, and some serious musing.
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Prices paid to producers in U.S. increase more than forecast
Submitted by admin on Thu, 2021-08-12 10:28 Section: Daily DispatchesCounterintuitively enough, gold prices fell.
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By Olivia Rockerman
Bloomberg News
Thursday, August 12, 2021
Prices paid to U.S. producers rose in July by more than expected, suggesting that higher commodity costs and supply bottlenecks are still adding to inflationary pressures for companies.
Yoo-hoo, World Gold Council -- Do you have any explanation for this?
Submitted by admin on Wed, 2021-08-11 18:00 Section: Daily DispatchesGATA does.
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Gold Among the Worst 2021 Investments, Allstarcharts Founder Says
By Thomas Hum
Yahoo Finance, Sunnyvale, California
Wednesday, August 11, 2021
Brien Lundin: Flash crash in gold was obviously an attack of market manipulation
Submitted by admin on Wed, 2021-08-11 12:30 Section: Daily DispatchesBy Brien Lundin, Editor
Gold Newsletter, Metairie, Louisiana
Wednesday, August 11, 2021
We've seen this movie before.
Most notably, it occurred in April of 2013, when high-frequency traders (HFTs) pocketed a billion or so dollars by taking the gold price down more than $250 over the course of two trading sessions.
They did it again on Sunday night.
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Kyrgyzstan set to complete seizure of Centerra gold mine
Submitted by admin on Wed, 2021-08-11 11:52 Section: Daily DispatchesFrom Agence France-Presse
via Yahoo News, Sunnyvale, California
Wednesday, August 11, 2021
Kyrgyzstan said today that it had launched the process of kicking out its largest foreign investor, Canada's Centerra Gold, over "large-scale corruption" at the impoverished country's largest gold mine.
Kyrgyz authorities earlier this year seized control over the mine formerly operated by the company which accounted for 12.5 percent of Kyrgyzstan's GDP in 2020 and has long fuelled political struggles in the ex-Soviet republic.
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Bloomberg's spin: Inflation 'moderates' as it keeps going up
Submitted by admin on Wed, 2021-08-11 10:31 Section: Daily DispatchesConsumer Inflation in U.S. Moderates While Remaining Elevated
By Reade Pickert
Bloomberg News
Wednesday, August 11, 2021
Prices paid by U.S. consumers climbed in July at a more moderate pace, though not enough to provide major relief from the cost increases weighing on sentiment and driving policy debate.
The consumer price index increased 0.5% from June and 5.4% from a year ago, according to Labor Department data released today. Excluding the volatile food and energy components, the so-called core CPI rose 0.3% from the prior month and 4.3% from July 2020.
At least the big intervention smash humiliated the World Gold Council
Submitted by admin on Tue, 2021-08-10 22:17 Section: Daily Dispatches10:22p ET Tuesday, August 10, 2021
Dear Friend of GATA and Gold:
Painful as this week's government intervention against gold was for gold investors, at least it may have demolished what was left of the credibility of the World Gold Council.
The council's "chief market strategist," John Reade, tiptoed up to the intervention and then ran away, writing:
"Could the sell-off have been a 'fat finger' or something malicious? Either are possible":
Craig Hemke at Sprott Money: One way forward for the monetary metals
Submitted by admin on Tue, 2021-08-10 17:27 Section: Daily Dispatches5:25p ET Tuesday, August 10, 2021
Dear Friend of GATA and Gold:
The TF Metals Report's Craig Hemke, writing tonight at Sprott Money, reviews the recent setbacks of the monetary metals and speculates on the possible reversal of their trend by the end of the year. Hemke's analysis is headlined "One Way Forward" and it's posted at Sprott Money here:
https://www.sprottmoney.com/blog/One-Way-Forward-Craig-Hemke-August-10-2021
Matthew Piepenburg: The gold market's 'Why Me?' moment and the dark side of manipulation
Submitted by admin on Tue, 2021-08-10 12:56 Section: Daily Dispatches12:55p ET Tuesday, August 10, 2021
Dear Friend of GATA and Gold:
Matterhorn Asset Management's Matthew Piepenburg, writing today at King World News, construes this week's flash crashing of gold as part of a scheme to help overextended bullion banks obtain metal on the cheap as they try to move into compliance with "Basel 3" regulations limiting exposure to derivatives.
Piepenburg's analysis is headlined "Gold Smash: The Gold Market's 'Why Me?' Moment and the Dark Side of Manipulation" and it's posted at King World News here:
Pam and Russ Martens: Long after Volcker Rule purported to outlaw it, Morgan still owns a hedge fund
Submitted by admin on Tue, 2021-08-10 11:19 Section: Daily DispatchesBy Pam and Russ Martens
Wall Street on Parade
Tuesay, August 10, 2021
On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) became the law of the United States. Its promise to Americans was that it would reform the corrupt practices on Wall Street that had led to the worst financial collapse in 2008 since the Great Depression and the largest taxpayer bailout of Wall Street in history.
But here we are, 11 years later, with every one of those corrupt practices in full display at the Wall Street mega-banks today.
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