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Daily Dispatches

Alasdair Macleod: 2020-22 vs. 1929-32

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
TDhursday, July 22, 2021

Current levels of equity markets are not only divorced from their underlying economic and business realities but are repeating the madness of crowds that led to the Wall Street crash of 1929-1932. The obvious difference is in the money: gold-backed dollars then compared with unbacked fiat today.

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USA Gold: Coins and Bullion Since 1973

ECB vows to persist with negative rates in bid to fuel inflation

Section: Daily Dispatches

By Martin Arnold
Financial Times, London
Thursday, July 22, 2021

The European Central Bank will keep buying bonds and maintain its deeply negative interest rates in an attempt to shift the eurozone economy out of its persistent pattern of sluggish inflation, its policymakers decided today.

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Good Mining Exploration Resumes Search
for Gold at Golden Target Project in Ontario

Gold trader bragged about 'how easy' it is to manipulate prices

Section: Daily Dispatches

Indeed, ease of manipulation is precisely the purpose of the gold futures market:

https://www.gata.org/node/17081

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By Bre Bradhman
Bloomberg News
via Yahoo News, Sunnyvale, California
Wednesday, July 21, 2021

https://finance.yahoo.com/news/gold-trader-chat-bragged-easy-001619023.html

Potosi, the silver mine that changed the world

Section: Daily Dispatches

9:47p ET Wednesday, July 21, 2021

Dear Friend of GATA and Gold:

Historian Lance Geiger, "The History Guy" at YouTube, today presents a fascinating account of the world's first great silver mine, Potosi in Spanish-ruled Peru. 

Potosi silver, Geiger relates, created the world's first international currency, funded and destroyed empires, and, of course, imposed virtual slavery on the nearby inhabitants, who had to work in the mine.

Basel 3 shows big powers want gold to replace dollar, Naylor-Leyland says

Section: Daily Dispatches

9:21p ET Wednesday, July 21, 2021

Dear Friend of GATA and Gold:

British gold fund manager Ned Naylor-Leyland is the guest on Sprott Money's "Ask the Expert" program this month, and interviewed by host Craig Hemke, Naylor-Leyland says the new "Basel 3" protocols for gold derivatives held by banks suggest that the G-20 powers and the Bank for International Settlements want gold to replace the U.S. dollar as the world's "risk-free instrument."

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Pam and Russ Martens: Markets plunge on reports of fully vaccinated getting Delta strain

Section: Daily Dispatches

By Pam and Russ Martens
Wall Street on Parade
Tuesday, July 20, 2021

Yesterday the Dow Jones Industrial Average fell 725.8 points out of fear that there will be renewed business restrictions to deal with spiking COVID cases in all 50 states in the U.S.

On July 8 the Food and Drug Administration and the Centers for Disease Control and Prevention jointly released an unequivocal statement on the COVID-19 vaccines that are in use in the United States. 

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Brazilian central bank buys 41.8 tons of gold to bolster reserves

Section: Daily Dispatches

From The Rio Times
Rio de Janeiro, Brazil
Saturday, July 17, 2021

RIO DE JANEIRO, Brazil -- After years without substantially changing the amount of gold in its international asset reserves, the Brazilian Central Bank, headed by Roberto Campos Neto, bought 41.8 tons of the metal in June.

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Storage and Withdrawal of Gold 
with Bullion Star in Singapore

UK reaffirms backing for Guaido as Venezuela president ahead of $1 billion gold case

Section: Daily Dispatches

From Reuters
Monday, July 19, 2021

LONDON -- The British government reiterated today that it recognises opposition figure Juan Guaido as Venezuela's president, a move aimed at quashing a bid by the Nicolas Maduro-backed Venezuelan central bank to repatriate nearly $1 billion of its gold stored in London.

Legal teams representing Maduro and Guaido will be at the UK Supreme Court tnday in the latest stage of a long-running tug-of-war over what amounts to about 15% of Venezuela's foreign currency reserves.

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GATA Chairman Murphy reviews failure of 'Basel 3' to stop metals price suppression

Section: Daily Dispatches

1:45p ET Sunday, July 18, 2021

Dear Friend of GATA and Gold:

In an interview this week with Michelle Holiday of Portfolio Wealth Global, GATA Chairman Bill Murphy discusses the years of counterintuitive moves in gold and silver prices and the failure of the "Basel 3" banking protocols to diminish the use of "paper gold" and thus their failure to boost the gold price. Murphy also reviews the refusal of financial news organizations to examine manipulation of the monetary metals markets. The interview is a half hour long and can be viewed at YouTube here:

'Strange' bond reaction to inflation puzzles investors -- because the press won't pose key questions

Section: Daily Dispatches

Well, of course "strange" and "counterintuitive" market action is puzzling investors. For the Financial Times and other financial news organizations never put to central banks the crucial questions about their surreptitious market interventions, starting with the monetary metals markets. Everything would make perfect sense if the FT and other financial news organizations did ask. Here, once again, are a few dozen tips for them:

https://gata.org/node/20925

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