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Daily Dispatches
North Carolina House Republicans want state savings held as gold bullion
Submitted by admin on Tue, 2023-06-13 20:33 Section: Daily DispatchesBy Lynn Bonner
NCNewsline.com, Raleigh, North Carolina
Tuesday, June 13, 2023
North Carolina House Republicans want the state to use some of its savings to buy gold bullion and bury it in Texas.
A group of House Republicans filed a bill in mid-April that would have the state use $2 billion from its savings reserve to buy gold bullion. The bill sat idle in the House Appropriations Committee until Thursday, when it was sent to the Committee on State Government. It's set for a committee hearing tomorrow.
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Ed Steer: Another decrease in SLV's short position
Submitted by admin on Mon, 2023-06-12 19:31 Section: Daily Dispatches7:29p ET Monday, June 12, 2023
Dear Friend of GATA and Gold (and Silver):
The weekend edition of Ed Steer's Gold and Silver Digest, published by GATA board member Ed Steer, is headlined "Another Decrease in SLV's Short Position" and it's posted in the clear at SilverSeek here:
https://silverseek.com/article/another-decrease-slvs-short-position
Ghana regains top gold spot in Africa as output jumps 32%
Submitted by admin on Fri, 2023-06-09 19:50 Section: Daily DispatchesBy Christian Akorlie
Reuters
Friday, June 9, 2023
ACCRA, Ghana -- Ghana recorded a 32% increase in gold production last year, enabling it to win back the top spot from South Africa as the largest gold producer on the continent, the president of the mines chamber said today.
Ghana lost the position to South Africa in 2021 after a drastic fall in output.
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Jan Nieuwenhuijs: The Shanghai International Gold Exchange and de-dollarization
Submitted by admin on Fri, 2023-06-09 16:46 Section: Daily DispatchesBy Jan Nieuwenhuijs
Gainsville Coins, Lutz, Florida
Friday, June 9, 2023
This article is a primer on the Chinese gold market, more specifically the Shanghai International Gold Exchange (SGEI).
The SGEI facilitates "offshore" gold trading in renminbi and can play a crucial role in de-dollarization, as it allows countries to use renminbi as a trade currency that can be converted into gold without affecting China's balance of payments.
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Ambrose Evans-Pritchard: Forget inflation, for deflation is the real danger now
Submitted by admin on Fri, 2023-06-09 10:36 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
via MSN Money, Redmond, Washington
Thursday, June 8, 2023
The global inflation shock of the last two years is over except for the shouting. Legacy effects will generate much noise for a few months but the one-off spike is reversing almost everywhere with an elegant symmetry.
Alasdair Macleod: The entire euro system faces failure
Submitted by admin on Thu, 2023-06-08 15:26 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney, Toronto
Thursday, June 8, 2023
In these dog days of summer, there is a new complacency over the financial and economic status of the Eurozone. Inflation is down, bank shares have rallied, and the end of rises in interest rates is in sight.
Will Argentina ditch its peso for the dollar?
Submitted by admin on Thu, 2023-06-08 10:04 Section: Daily DispatchesLeading presidential candidate says he'd "blow up" the central bank.
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By Ignacio Olivera Doll
Bloomberg News
Thursday, June 8, 2023
The Argentine peso has had a tumultuous life. In the 1980s it was temporarily dethroned by a new currency called the austral. An arranged marriage with the dollar in 1991 produced some years of bliss but ended in a ruinous divorce. More recently, the peso has suffered the humiliation of being tagged the worst-performing currency in emerging markets.
India's gold reserve up more than 40% in five years
Submitted by admin on Thu, 2023-06-08 09:41 Section: Daily DispatchesBy Gayatri Nayak
The Times of India, Mumbai
Thursday, June 8, 2023
The Reserve Bank of India's gold reserves have risen by more than 40% since it resumed the purchase of the yellow metal over five years ago. This shows gold has emerged as a strong hedge against inflation and has helped reduce dependence on the dollar to an extent.
India's central bank, unlike others, never sells its gold.
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China's gold binge extends to seventh month as reserves climb
Submitted by admin on Wed, 2023-06-07 09:57 Section: Daily DispatchesBy Sybilla Gross
Bloomberg News
Wednesday, June 7, 2023
China increased its gold reserves for a seventh straight month, signaling ongoing strong demand for the precious metal from the world’s central banks.
China raised its gold holdings by about 16 tons in May, according to data from the People's Bank of China on Wednesday. Total stockpiles now sit at about 2,092 tons, after adding a total of 144 tons from November through last month.
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Ted Butler: Mission accomplished?
Submitted by admin on Tue, 2023-06-06 21:41 Section: Daily DispatchesBy Ted Butler
SilverSeek.com
Tuesday, June 6, 2023
A set of readily-verifiable facts have combined to point to a stunning conclusion, namely, that thanks largely to enough people doing the right thing, the federal commodities regulator, the Commodity Futures Trading Commission, may have also finally done the right thing when it comes to the decades-old Comex silver price manipulation.
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