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Daily Dispatches
Fire and rain show California still has plenty of gold to discover
Submitted by admin on Sun, 2023-04-23 23:30 Section: Daily DispatchesBy Hope Sloop
Daily Mail, London
Sunday, April 23, 2023
Recent wildfires and rain have caused a "Gold Rush 2.0" in California's Central , where some people have located pieces of gold that were unearthed by the natural events.
According to historian Ed Allen of the Marshall Gold Discovery State Park in Coloma, only about 10-15% of California's gold has been discovered.
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Niall Ferguson: Resentment of dollar's dominance is old hat
Submitted by admin on Sun, 2023-04-23 10:37 Section: Daily DispatchesThe Dollar's Demise May Come Gradually, But Not Suddenly
By Niall Ferguson
Bloomberg News
Sunday, April 23, 2023
"Every night," the president mused, "I ask myself why every country needs to trade in the dollar. ... Who decided it was the dollar after the disappearance of the gold standard? ... Today, countries have to chase after dollars to export, when they could be exporting in their own currencies."
The president in question was Luiz Inacio Lula da Silva of Brazil, and the venue was the New Development Bank in Shanghai on April 13.
Elouise Fowler: Why investors are sick of gold miners hedging
Submitted by admin on Sun, 2023-04-23 10:27 Section: Daily DispatchesBy Elouise Fowler
Australian Financial Review, Sydney
Sunday, April 23, 2023
China, Russia, and Turkey bought vast amounts of gold via their central banks over the past year to bolster their foreign exchange reserves and diversify against the world's most popular currency, the U.S. dollar.
Ruchir Sharma: What strong gold says about the weak dollar
Submitted by admin on Sun, 2023-04-23 10:16 Section: Daily DispatchesHow the hell did this get into the Financial Times? And how the hell can Rockefeller International offer such praise for gold?
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By Ruchir Sharma
Financial Times, London
Sunday, April 23, 2023
https://www.ft.com/content/e9c78b99-8a29-47e2-b5bf-9f7542608cf6
Central banks load up on gold in response to rising geopolitical tensions
Submitted by admin on Sun, 2023-04-23 09:55 Section: Daily DispatchesAnd the Financial Times actually acknowledges it!
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By Daria Mosolova
Financial Times, London
Sunday, April 23, 2023
Central bankers who manage trillions in foreign exchange reserves are loading up on gold as geopolitical tensions including the war in Ukraine force them to rethink their investment strategies.
An annual poll of 83 central banks, which manage a combined $7 trillion in foreign exchange assets, found that more than two-thirds of respondents thought their peers would increase their gold holdings in 2023.
Zimbabwe plans gold-backed digital currency
Submitted by admin on Sun, 2023-04-23 09:43 Section: Daily DispatchesExactly how convertible will it be, if at all? That is not reported here. But at least a resource- and gold-rich, incompetently governed, developing country is starting to perceive gold's strong monetary properties.
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By Debra Matabvu
Sunday Mail, Harare, Zimbabwe
Saturday, April 22, 2023
https://www.sundaymail.co.zw/rbz-introduces-gold-backed-digital-currency
Dollar's lead as a reserve currency eroded quickly last year
Submitted by admin on Sat, 2023-04-22 20:19 Section: Daily DispatchesBy Phil Rosen
Insider, New York
Monday, April 17, 2023
The dollar's standing as a reserve currency of choice saw a steep decline in 2022 even though its strength in international trade remains unchallenged, according to Eurizon SLJ Asset Management.
In a Monday note, strategists Joana Freire and Stephen Jen calculated that the greenback accounted for about two-thirds of total global reserves in 2003, then 55% by 2021, and 47% last year.
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Western Australia government to review its ownership of gold processor Perth Mint
Submitted by admin on Sat, 2023-04-22 11:37 Section: Daily DispatchesBy Lewis Jackson
Reuters
via Nasdaq.com, New York
Thursday, April 20, 2023
SYDNEY -- Western Australia state said today it will launch a review of its ownership of The Perth Mint, the world's largest processor of newly mined gold, as the company battles allegations it sold diluted gold to China.
Australian media reported last month Perth Mint may have to recall a potential $9 billion worth of diluted or "doped" 1-kilogram gold bars sold to top consumer China.
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Central bank demand is defeating U.S. gold price suppression policy, Maguire says
Submitted by admin on Sat, 2023-04-22 10:05 Section: Daily Dispatches10:03a Saturday, April 22, 2023
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire, in his weekly discussion with Shane Morand on Kinesis Money's "Live from the Vault" program, details how U.S. gold price suppression policy is failing amid heavy demand for real metal from central banks, which is driving the price up in stair-like steps toward an official revaluation.
The program is 44 minutes long and can be viewed at YouTube here:
Russia and Bolivia dump U.S. dollar and agree on trade increases
Submitted by admin on Sat, 2023-04-22 00:07 Section: Daily DispatchesFrom Russia Briefing
Dezan Shira & Associates
Shenzhen, China
Thursday, April 20, 2023
The Russian foreign minister, Sergey Lavrov, is on a Latin American tour and has been meeting with the Brazilian president and foreign ministers.
When he caught up with his Bolivian counterpart, Rogelio Mayta, in the Venezuelan capital, Caracas, they introduced a new trade transaction system to drop the U.S. dollar and euro and to carry out international commercial transactions using the Russian ruble and the Bolivian boliviano instead.
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