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Showing posts with the label GATA | The GATA DISPATCH.

Gold Street is where South Africa's mining history goes to die | GATA | THE GATA DISPATCH

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Gold Street is where South Africa's mining history goes to die Submitted by cpowell on 02:19PM ET Wednesday, June 20, 2018 . Section: Daily Dispatches South Africa is a member of both the International Monetary Fund and the Bank for International Settlements, organizations that help execute the gold price suppression scheme of the major developed countries to exploit the developing world. GATA would be glad to make a presentation to the South African government and the Reserve Bank of South Africa to explain the scheme and how it devastates the country. If you have any contact with the government or central bank, please ask them about their indifference to this issue and why South Africa is a rich country insisting on being poor. * * * Gold Street Is Where South Africa's Mining History Goes to Die By Ana Monteiro and Felix Njini Bloomberg News Tuesday, June 19, 2018 The death rattle of the industry that once symbolized South Africa

Chinese company in talks to buy large gold mine in Indonesia - June 1, 2018. | GATA THE GATA DISPATCH.

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Chinese company in talks to buy large gold mine in Indonesia Submitted by cpowell on 01:05PM ET Friday, June 1, 2018 . Section: Daily Dispatches By Julie Steinberg and P.R. Venkat The Wall Street Journal Friday, June 1, 2018 A Chinese mining-exploration company is in advanced discussions to acquire an Indonesian gold and silver mine for around $1.5 billion, according to people familiar with the matter. Pengxin International Mining Co.'s deal for the Martabe gold mine, one of Indonesia's largest, hasn't been finalized, but a $1.5 billion price tag would represent a doubling in its value from two years ago.  Shares of Pengxin, which is listed in Shanghai, have been suspended from trading since mid-April pending a "major asset restructuring," according to a regulatory filing. The Shanghai-based company disclosed on May 22 plans to take over a company that owns the Indonesian mine, without providing financial details.

Wolfgang Munchau: The euro must be made more robust to rival the dollar - May 28, 2018.- GATA | THE GATA DISPATCH

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Wolfgang Munchau: The euro must be made more robust to rival the dollar Submitted by cpowell on 03:12AM ET Monday, May 28, 2018. Section: Daily Dispatches By Wofgang Munchau Financial Times, London Sunday, May 27, 2018 https://www.ft.com/content/ ca8c6826-5f76-11e8-ad91- e01af256df68 Many years ago I used to attend an annual seminar in pleasant surroundings in which the participants discussed the politics and economics of two European countries. There were usually two groups. One would talk about foreign policy -- mostly transatlantic relations. The other discussed economics and especially the euro. At the end the two listened to each others' conclusions with polite boredom. The European Union would today be in a better place if the foreign policy folk inside and outside that room had made the euro their own project. The dollar, by contrast, has been an integral part of U.S. foreign policy for many years. Its role as the global anc

U.S. launches criminal probe into bitcoin price manipulation - May 24, 2018 - GATA | THE GATA DISPATCH.

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U.S. launches criminal probe into bitcoin price manipulation Submitted by cpowell on 01:46PM ET Thursday, May 24, 2018 . Section: Daily Dispatches By Matt Robinson and Tom Schoenberg Bloomberg News Thursday, May 24, 2018 The Justice Department has opened a criminal probe into whether traders are manipulating the price of bitcoin and other digital currencies, dramatically ratcheting up U.S. scrutiny of red-hot markets that critics say are rife with misconduct, according to four people familiar with the matter. The investigation is focused on illegal practices that can influence prices -- such as spoofing, or flooding the market with fake orders to trick other traders into buying or selling, said the people, who asked not to be identified because the review is private. Federal prosecutors are working with the Commodity Futures Trading Commission, a financial regulator that oversees derivatives tied to bitcoin, the people said. ... ... F

Bullion Star's gold market charts suggest demand remains strong - May 21, 2018. GATA | THE GATA DISPATCH.

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Bullion Star's gold market charts suggest demand remains strong Submitted by cpowell on 12:48AM ET Tuesday, May 22, 2018 . Section: Daily Dispatches 8:50p ET Monday, May 21, 2018 Dear Friend of GATA and Gold: Bullion Star's latest gold market charts suggest that despite gold's recent decline in U.S. dollars, gold demand remains strong in China, Russia, and Switzerland. Bullion Star's report is headlined "Gold Market Charts -- May 2018" and it's posted here: https://www.bullionstar.com/ blogs/gold-market-charts/gold- market-charts-... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org

Forget about oil at $80, because the big rally is in forward prices- May 21, 2018. | GATA | THE GATA DISPATCH.

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Forget about oil at $80, because the big rally is in forward prices Submitted by cpowell on 01:06PM ET Monday, May 21, 2018 . Section: Daily Dispatches By Catherine Ngai, Alex Longley, and Javier Blas Bloomberg News Monday, May 21, 2018 Brent crude oil grabbed all the attention after spot prices hit $80 a barrel last week. And yet, almost unnoticed, a perhaps more important rally has occurred in the obscure world of forward prices, with some investors betting the "lower for longer" price mantra is all but over. The five-year Brent forward price, which has been largely anchored in a tight $55-to-$60 a barrel range for the past year and a half, has jumped over the last month, outpacing the gains in spot prices. It closed at $63.50 on Friday . "For the first time since December 2015, the back end of the curve has been leading the complex higher," said Yasser Elguindi, a market strategist at Energy Aspects Ltd. in New Yo

LBMA suspends Russian precious metals refinery from 'good delivery' lists -May 15, 2018.GATA | THE GATA DISPATCH

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LBMA suspends Russian precious metals refinery from 'good delivery' lists Submitted by cpowell on 11:44PM ET Tuesday, May 15, 2018 . Section: Daily Dispatches By Peter Hobson Reuters Tuesday, May 15, 2018 LONDON -- The London Bullion Market Association said today it had suspended the Ekaterinburg Non-Ferrous Metals Processing Plant from its gold and silver good delivery lists due to "ownership-related issues." The refinery in Russia is controlled by Moscow-based conglomerate Renova Group, which along with its key shareholder, billionaire Viktor Vekselberg, was sanctioned by the United States on April 6 . The LBMA said in a notice the refinery would be removed from its active good delivery lists from May 14. The good delivery lists contain refineries whose gold and silver bars meet the required standard for acceptability in the London bullion market, the world's largest. The London Bullion Market Association did no

U.S. retreat from trade deals poses new threat to the dollar on May 13, 2018 | GATA THE GATA DISPATCH.

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U.S. retreat from trade deals poses new threat to the dollar Submitted by cpowell on 01:49PM ET Sunday, May 13, 2018. Section: Daily Dispatches By Chelsey Dulaney and Joshua Zumbrun The Wall Street Journal Sunday, May 13, 2018 Trade friction is emerging as the latest threat to the U.S. dollar's position at the heart of the global financial system. For decades, central banks have held the bulk of their foreign-exchange reserves in the dollar, reflecting the dominant role the U.S. and its currency have played in global trade. As the U.S. pulls back from partnerships while countries like Mexico and Japan strike their own trade deals, the dollar's dominance could be undermined, investors and analysts said. That dominance has been referred to as an "exorbitant privilege," allowing the U.S. to borrow cheaply and run persistent deficits.  Though a less U.S.-centric trade system would take years to fully evolve, it would have si

GATA | THE GATA DISPATCH: GATA's Ed Steer to speak at Vancouver conference May 15-16. - May 4, 2018.

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GATA's Ed Steer to speak at Vancouver conference May 15-16 Submitted by cpowell on 02:33PM ET Friday, May 4, 2018 . Section: Daily Dispatches 10:34a ET Friday, May 4, 2018 Dear Friend of GATA and Gold: GATA Board of Directors member Ed Steer, editor of Ed Steer's Gold and Silver Digest, a daily letter of financial news and analysis ( https://edsteergoldsilver. com/ ), will speak at Cambridge House's International Mining Investment Conference in Vancouver, British Columbia, on Tuesday and Wednesday, May 15-16 . Other speakers include Frank Holmes of U.S. Global Investors, Peter Schiff of Euro Pacific Capital, and David Morgan of The Morgan Report and Silver-Investor.com. Dozens of mining companies will be exhibiting. Admission is C$19 for those who register in advance and $C33.86 at the door. For more information, visit: http://cambridgehouse.com/e/ international-mining- investment-conference-2... CHRIS POWELL, Secretary/

GATA | THE GATA DISPATCH: Amid 'relentless' futures selling, silver nears breakout, GoldMoney says, April 21, 2018.

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Amid 'relentless' futures selling, silver nears breakout, GoldMoney says Submitted by cpowell on 01:27PM ET Saturday, April 21, 2018 . Section: Daily Dispatches 9:29a ET Saturday, April 21, 2018 Dear Friend of GATA and Gold: A research report by GoldMoney's Stefan Wieler concludes that "relentless selling pressure in the futures market" has been suppressing silver prices but that the market is on the verge of a breakout. The report is headlined "Silver on the Verge of a Breakout" and it's posted at GoldMoney here: https://www.goldmoney.com/ research/goldmoney-insights/ silver-on-the-verg... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org

GATA | THE GATA DISPACH: Russia says it keeps all its gold reserves at home

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Russia says it keeps all its gold reserves at home Submitted by cpowell on 01:11PM ET Saturday, April 21, 2018 . Section: Daily Dispatches Russia Entrusts Its Gold to No One, has Zero Bullion in U.S. From Russia Today, Moscow Saturday, April 21, 2018 The Central Bank of Russia keeps all its bullion at home, since only in Russia can its gold be completely safe, according to Anatoly Aksakov, the chairman of the State Duma Committee on Financial Markets. Answering a question about Turkey's decision to repatriate its gold from the U.S. Federal Reserve, Aksakov said: "We do not have a gold reserve in the United States. We have only foreign exchange reserves abroad. No one can lay hands on our gold." ... ... For the remainder of the report: https://www.rt.com/business/ 424752-russia-gold-reserves- us/

GATA | THE GATA DISPATCH: Eric Sprott's weekly review: Closer to a short squeeze in metals?, April 21, 2018.

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Eric Sprott's weekly review: Closer to a short squeeze in metals? Submitted by cpowell on 01:06PM ET Saturday, April 21, 2018 . Section: Daily Dispatches 9:06a ET Saturday, April 21, 2018 Dear Friend of GATA and Gold: Reviewing this week's market action, mining entrepreneur Eric Sprott and Craig Hemke of Sprott Money News discuss the seemingly growing possibility of a short squeeze in the monetary metals. Their discussion is 13 minutes long and can be heard at Sprott Money here: https://www.sprottmoney.com/ Blog/if-your-systems-going-to- crash-you-want... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org

GATA | THE GATA DISPATCH: NY Fed nominee faults bitcoin for lacking elasticity and central bank sponsorship, on April 21, 2018.

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NY Fed nominee faults bitcoin for lacking elasticity and central bank sponsorship Submitted by cpowell on 12:57PM ET Saturday, April 21, 2018 . Section: Daily Dispatches But isn't that the point of cryptocurrency -- and gold? * * * Likely New York Fed President Says Bitcoin 'Doesn't Pass the Basic Test' for a Currency By Jeff Cox CNBC, New York Friday, April 20, 2018 The central banker expected to be the next head of the New York Fed doesn't think much of bitcoin and other cryptocurrencies. "Cryptocurrency doesn't pass the basic test of what a currency should be," John Williams, currently the head of the San Francisco Fed but the nominee for the top slot in New York, said during a speech today.  A currency should be "basically something with a store of value," he said, adding that currencies need to be "elastic" to be able to support varying economic and financial conditions. .

GATA | THE GATA DISPATCH: Iran switches from dollar to Euro as official reporting currency, APRIL 19, 2018.

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Iran switches from dollar to euro as official reporting currency Submitted by cpowell on 01:08AM ET Thursday, April 19, 2018 . Section: Daily Dispatches From Reuters Wednesday, April 18, 2018 LONDON -- Iran will start reporting foreign currency amounts in euros rather than U.S. dollars, state media said today as part of the country's effort to reduce its reliance on the U.S. currency due to political tension with Washington. The new policy could encourage government bodies and firms linked to the state to increase their use of the euro at the expense of the dollar. Central bank governor Valiollah Seif said last week that Supreme Leader Ayatollah Ali Khamenei had welcomed his suggestion of replacing the dollar with the euro in foreign trade, as the "dollar has no place in our transactions today." Tehran has been trying for years to move away from the dollar, although much of the country's international trade is still

GATA | THE GATA DISPATCH | Jay Taylor: How much longer can the American empire run on fake money? Originally published on April 16, 2017.

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This digest includes 1 new article: Jay Taylor: How much longer can the American empire run on fake money? Submitted by cpowell on 10:42AM ET Monday, April 16, 2018 6:44a ET Monday, April 16, 2018 Dear Friend of GATA and Gold: Financial letter writer Jay Taylor's new commentary, "How Much Longer Can the American Empire Run on Fake Money?," cites GATA's work and adds: Read more...

GATA | THE GATA DISPATCH | Iran's currency collapses as central bank freezes foreign exchange - April 15, 2018.

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Iran's currency collapses as central bank freezes foreign exchange Submitted by cpowell on 11:55AM ET Sunday, April 15, 2018 . Section: Daily Dispatches Iran Bans Sale Of Foreign Currencies at Exchange Bureaus From Radio Farda (Radio Free Europe / Radio Liberty, Washington) Sunday, April 15, 2018 Iran's central bank has announced a ban on the sale of foreign currencies at exchange bureaus. Under new government guidelines, exchange bureaus no longer have the right to buy, sell, or transfer foreign currencies, and the central bank will no longer provide cash to the bureaus. Mohammad Ali Karimi, head of public relations for the central bank, announced on state-run television on Friday that the guidelines aim to "redefine the job description of exchange bureaus," adding, "They might be given the role of a mediator for cases when Iranian banks are not interacting with some foreign banks." The exchange rate of Ira

GATA | THE GATA DISPATCH | Craig Hemke: A lesson in suppression on April 12, 2018.

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Craig Hemke: A lesson in suppression Submitted by cpowell on 03:51PM ET Thursday, April 12, 2018 . Section: Daily Dispatches 11:50p ET Thursday, April 12, 2018 Dear Friend of GATA and Gold: A hundred tonnes of paper gold were dumped on the futures market yesterday to control the monetary metal's price amid war tension, the TF Metals Report's Craig Hemke writes today. Hemke writes: "Do you really think that some mining CEOs had left standing orders with the bullion banks to immediately sell forward a year's worth of production on any sudden, war-related spike in price? Give me a break! But this is what the apologists and shills want you to believe." Hemke's analysis is headlined "A Lesson in Suppression" and it's posted at the TF Metals Report here: https://www.tfmetalsreport. com/blog/8941/lesson- suppression CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@

GATA | the GATA DISPATCH: Explosion more likely than bull market in metals, GATA chairman says on April 12, 2018.

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Explosion more likely than bull market in metals, GATA chairman says Submitted by cpowell on 01:56PM ET Thursday, April 12, 2018 . Section: Daily Dispatches 9:56a ET Thursday, April 12, 2018 Dear Friend of GATA and Gold: Interviewed by GoldSeek Radio's Chris Waltzek, GATA Chairman Bill Murphy notes the growing anomalies in the monetary metals markets, indicating more desperate interventions by governments and central banks. Murphy predicts that there won't be another bull market in the metals because at some point, when the interventions fail, the markets will just explode. In the meantime, he adds, gold and silver are "the cheapest assets on the planet." The interview is 15 minutes long and can be heard at GoldSeek Radio here: http://radio.goldseek.com/ nuggets/murphy.04.11.18.mp3 CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org

GATA | THE GATA DISPATCH: Is Sharps Pixley's Ross Norman really a friend of gold, and his clients? on April 2018.

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Is Sharps Pixley's Ross Norman really a friend of gold, and his clients? Submitted by cpowell on 02:57AM ET Tuesday, April 10, 2018 . Section: Daily Dispatches 11:19p ET Monday, April 9, 2018 Dear Friend of GATA and Gold: Ross Norman, proprietor of venerable London bullion dealer Sharps Pixley, writes today, "Gold is struggling to find friends." Is Norman himself one? It apparently depends on the day. He would seem to be one insofar as his firm sells the real stuff, not mere paper claims against it that create the illusion of infinite supply and thereby destroy gold's very purpose. But in his new commentary at Sharps Pixley, headlined "Gold Says 'Peak Complacency,'" Norman professes to wonder about gold's being "trapped in narrow trading ranges and unresponsive to geopolitical events," about the lack of news and substantial commentary about gold, and about the seeming complacency of t

GATA | THE GATA DISPATCH | Trump's 'America first' puts dollar last, Deutsche Bank analyst says, On April 9, 2018.

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Trump's 'America first' puts dollar last, Deutsche Bank analyst says Submitted by cpowell on 07:21PM ET Monday, April 9, 2018 . Section: Daily Dispatches By Lananh Nguyen Bloomberg News Monday, April 9, 2018 President Donald Trump's "America First" policy means the dollar will have to weaken, according to Deutsche Bank AG. The administration's "irreconcilable" goals of cutting trade imbalances while funding a large fiscal stimulus program pose the biggest challenge to the international monetary system since the breakdown of the Bretton Woods agreement in the 1970s, George Saravelos, global co-head of FX research at Deutsche Bank, wrote in a note. The only way to resolve these conflicting objectives is via a weaker dollar, he said. That's because the U.S. will probably struggle to attract sufficient foreign capital to fund its twin deficits, and that lack of appetite will likely translate