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Daily Dispatches
Biden's Treasury nominee Yellen discloses paid speaking gigs for financial firms
Submitted by cpowell on Fri, 2021-01-01 11:28 Section: Daily DispatchesFrom Reuters
Thursday, December 31, 2020
President-elect Joe Biden's pick for Treasury secretary, Janet Yellen, earned at least $7 million from speaking engagements over the past two years, according to disclosures posted today.
Dollar's growing dominance in Venezuela leaves locals 'short-changed'
Submitted by cpowell on Thu, 2020-12-31 12:01 Section: Daily DispatchesBy Sarah Kinosian and Mayela Armas
Reuters
Thursday, December 31, 2020
CARACAS, Venezuela -- With her arms full of $11.87 worth of bananas, red peppers and onions, an elderly woman at a produce stand in western Caracas approaches vendor Walquiria Garcia and offers to pay with a $10 or $20 bill.
China state banks buy dollars to ease sharp rally in yuan, traders say
Submitted by cpowell on Thu, 2020-12-31 11:59 Section: Daily DispatchesEverybody is rigging the currency markets, and while some of it can be reported, nothing about gold market rigging can be.
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From Reuters
Thursday, December 31, 2020
Gold heads for best year in a decade with dollar on the ropes
Submitted by cpowell on Wed, 2020-12-30 21:38 Section: Daily DispatchesFrom Bloomberg News
Wednesday, December 30, 2020
Gold is poised to cap the biggest annual advance in a decade after a tumultuous year, with gains this month aided by the dollar's decline to the lowest level since April 2018. Silver has surged almost 50% in 2020.
Alasdair Macleod: Monetary and economic outlook for 2021
Submitted by cpowell on Wed, 2020-12-30 21:21 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, St. Helier, Jersey, Channel Islands
Wednesday, December 30, 2020
The most important event in the new year is likely to be the Fed losing its iron grip on markets. The dollar's declining trend is already well established against other currencies and commodities, leading to this outcome.
Tyler Cowen: Cryptocurrency is not necessarily the future
Submitted by cpowell on Tue, 2020-12-29 12:12 Section: Daily DispatchesBy Tyler Cowen
Bloomberg News
Tuesday, December 29, 2020
As Bitcoin soared to above $28,000 over the weekend, talk resumed about the promising and dramatic future of cryptocurrency. The chief global strategist of Morgan Stanley Investment Management even suggested that Bitcoin could replace the dollar as a global reserve currency.
Pensions swamped in a sea of negative real rates
Submitted by cpowell on Mon, 2020-12-28 12:22 Section: Daily DispatchesBy Brian Chappatta
Bloomberg News
Monday, December 28, 2020
Defined-benefit pension plans were already barely treading water heading into 2020. In the years ahead, the risk is as great as ever that a large swath of them will drown.
Gold miners set for another banner year with focus on discipline
Submitted by cpowell on Mon, 2020-12-28 11:01 Section: Daily DispatchesBy Aoyon Ashraf
Bloomberg News
Monday, December 28, 2020
The good times for gold miners are expected to continue next year, especially for those able to tighten spending and increase returns to investors.
U.S. banks rack up $200 billion in fines and penalties over 20 years
Submitted by cpowell on Sun, 2020-12-27 11:58 Section: Daily DispatchesBy Laura Noonan
Financial Times, London
Thursday, December 24, 2020
The six largest U.S. banks are close to hitting a milestone $200 billion paid out in fines and penalties globally since the turn of the century, according to a new tally by advocacy group Better Markets.
When money is free, lenders start charging for everything else
Submitted by cpowell on Sat, 2020-12-26 21:06 Section: Daily DispatchesBy Charlie Devereux, Charlie Wells, and Stefania Spezzati
Bloomberg News
Wednesday, December 23, 2020
In normal times, bankers who oversee assets exceeding $1 trillion wouldn't be groping for loose change under the sofa.
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