Posts

Showing posts with the label GATA | THE GATA DISPATCH .

GATA | THE GATA DISPATCH - December 19, 3014: Too big to tax: Settlements are tax write-offs for big banks.

Image
Too big to tax: Settlements are tax write-offs for big banks Submitted by cpowell on Friday, December 19, 2014.  By Lynnley Browning Newsweek, New York Monday, October 27, 2014 At the Justice Department, senior officials like to congratulate themselves on the headline-making, big-bucks settlements they have imposed upon banks and lenders for their part in causing the 2008 mortgage meltdown that sparked the biggest American financial crisis since the Great Depression. But wait a moment. Those settlement figures are not quite what they seem. Buried deep in the announcements of the astronomical sums that Wall Street banks are being forced to pay is a dirty secret: A big chunk of the hundreds of billions of dollars banks have paid in settlements to various federal agencies and regulators since 2010 is deductible from the taxes banks and lenders pay. When is a fine not a fine? When it can be put against your tax bill. ... ... For the remainder of the report: http://www.

GATA | THE GATA DISPATCH - December 5, 2014: Koos Jansen: World Gold Council increases estimate of Chinese gold demand.

Image
Koos Jansen: World Gold Council increases estimate of Chinese gold demand Submitted by cpowell on  Friday, December 5, 2014.  Friday, December 5, 2014 Bullion Star market analyst and GATA consultant Koos Jansen reports today that the World Gold Council has increased its estimate of China's gold demand but still doesn't come close to Jansen's own calculations drawn from Chinese sources. Jansen's commentary is headlined "World Gold Council Rectifies 2013 Chinese Gold Demand" and it's posted at Bullion Star here: https://www.bullionstar.com/ blog/koos-jansen/world-gold- council-rectifie... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.

GATA | THE GATA DISPATCH - December 4, 2014: 3 Articles China said to consider scaling back restrictions on gold imports / KWN interviews Kaye on metals' rise and report trouble at NW Territorial Mint / New York Sun Beyond Bernard von NotHaus

Image
China said to consider scaling back restrictions on gold imports Submitted by cpowell on  Thursday, December 4, 2014.  By Feiwen Rong Bloomberg News Thursday, December 4, 2014 BEIJING -- China's central bank has circulated a draft plan to ease restrictions on gold imports, said people with knowledge of the matter, in a move that may lead to lower prices in the world's biggest market for bullion. The People's Bank of China drafted a plan that will open up gold imports to qualified miners as well as all the banks that are members of the Shanghai Gold Exchange, according to the people, who asked not to be identified because the proposal hasn't been made public. China Gold Coin Inc., a maker of commemorative gold and silver coins, could also qualify to import bullion, they said. Chinese regulators are pushing to open up the country's gold trade and lure foreign investors as part of its broader effort to link the mainland to global markets. In September

GATA | THE GATA DISPATCH - November 26, 2014: How JPMorgan struck gold with copper.

Image
How JPMorgan struck gold with copper Submitted by cpowell on Thursday, November 27, 2014.    Thursday, November 27, 2014 Reuters writer Andy Home today examines a detail of the U.S. Senate committee report on commodity market manipulation that GATA called to your attention a few days ago -- http://www.gata.org/node/14772 -- JPMorganChase's domination of the copper market and the metal's strange classification as "bullion" by U.S. government financial regulatory agencies, thereby exempting trading in the metal from ordinary anti-monopoly controls. Home's analysis is headlined "How JPMorgan Struck Gold with Copper" and it's posted at Reuters here: http://www.reuters.com/ article/2014/11/27/jpmorgan- copper-home-idUSL6N0T... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.

GATA | THE GATA DISPATCH - August 5, 2014: Hamstrung by dollar, Ecuador will create its own virtual currency.

Image
Hamstrung by dollar, Ecuador will create its own virtual currency Submitted by cpowell on  Tuesday, August 5, 2014.  10:33a ET  Tuesday, August 5, 2014 Bloomberg's headline on the report appended here about Ecuador's plan to create "bitcoin-like money" is misleading, insofar as bitcoin's virtue as money, like gold's virtue, is its supposed finiteness, while any money created by government is far more likely to become infinite in supply. The report itself seems worthwhile mainly for indicating another government's inability to accept that other than perhaps sunshine, wind, rain, and tides, no real resource is infinite and that, as a result, human affairs require choices. Indeed, maybe Ecuador should name its virtual currency the "infinito" -- if the name isn't grafted onto the dollar, euro, yen, and yuan first. CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.

GATA | THE GATA DISPATCH - July 22, 2014: Jeremy Warner: Have central banks been breaking the law?.

Image
Jeremy Warner: Have central banks been breaking the law?  Tuesday, July 22, 2014. Section:  Daily Dispatches By Jeremy Warner The Telegraph, London Monday, July 21, 2014 http://www.telegraph.co.uk/ finance/comment/jeremy-warner/ 10981011/Have-c... The best way to destroy the capitalist system, the Russian revolutionary leader Vladimir Lenin is reputed to have said, is to debauch the currency. The world's major central banks have certainly been having a fair old go at it. In the six years since the financial crisis first broke, they've been printing money like there is no  tomorrow . Fortunately, they have not yet managed to bring down the free-market system. On the other hand, they have succeeded in putting a rocket under asset prices and, in so doing, they have greatly exaggerated the wealth divide. In a number of cases, including the US and the UK, they have also significantly assisted governments in financing burgeoning fiscal deficits. To the extent tha

GATA | THE GATA DISPATCH - July 17, 2014: Dallas radio program interviews GATA Chairman Murphy.

Image
Dallas radio program interviews GATA Chairman Murphy Submitted by cpowell on  Thursday, July 17, 2014.   July 17, 2014 GATA Chairman Bill Murphy was interviewed for 13 minutes yesterday on the Dan Cofall program on KFXR-AM1190 in Dallas, discussing GATA's research into gold price suppression. The interview has been archived at Cofall's Internet site and begins at the 34:15 mark here: http://dancofall.com/? powerpress_pinw=2331-podcast CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.

GATA | THE GATA DISPATCH December 11, 2013: North Korea Reported to be Selling Gold to China.

Image
North Korea reported to be selling gold to China Submitted by cpowell on 05:42AM ET Wednesday, December 11, 2013. Section:  Daily Dispatches N. Korea Sells Gold in Sign of Imminent Economic Collapse: Source From Yonhap News Agency, Seoul via Global Post, Boston Wednesday, December 11, 2013 http://www.globalpost.com/dispatch/news/yonhap-news-agency/131210/n-kore... SEOUL, South Korea -- North Korea has begun to sell large amounts of gold to China in a bid to tide over its economic crisis, multiple sources familiar with North Korea affairs said Wednesday. The disposal could be an indication of an imminent economic collapse as it goes against founding leader Kim Il-sung's order to never sell the country's gold, according to the sources. "Since several months ago, North Korea has begun to sell even its gold," one source said, asking that he not be identified. "Overseas sales of gold are a barometer of whether the North Korean economy is in a cris

GATA | THE GATA DISPATCH OCTOBER 23, 2013: Jim Sinclair Plans Next Seminar in Kissimmee, Florida

Image
Jim Sinclair plans next seminar in Kissimmee, Florida Submitted by cpowell on 11:59PM ET Tuesday, October 22, 2013. Section: Daily Dispatches 2p ICT Wednesday, October 23, 2013 Gold mining entrepreneur and gold advocate Jim Sinclair plans to hold his next financial seminar in Kissimmee, Florida, near Orlando, on Saturday, November 2. Details can be found at his Internet site, JSMineSet, here: http://www.jsmineset.com/2013/10/22/florida-qa-session-announced/ CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.