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GATA I THE GATA DSPATCH: Craig Hemke at Sprott Money: What is Mr. Palladium telling us?

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 December 4, 2018. Section: Daily Dispatches 5p ET Tuesday, December 4, 2018 Dear Friend of GATA and Gold: A shortage of palladium and a squeeze in the London market for the metal may hint at similar squeezes soon in the monetary metals, the TF Metals Report's Craig Hemke writes today at Sprott Money. Hemke writes that back in the 1960s "physical gold shortages created an inability to manage price, and this led to the inevitable demise of the London Gold Pool in 1968. A true global palladium shortage that forces the hand of the banks and exposes their schemes to the light of day could be the first step to ending the ongoing LBMA/Comex gold pool 50 years later." Hemke's analysis is headlined "What Is Mr. Palladium Telling Us?" and it's posted at Sprott Money here: https://www.sprottmoney.com/ Blog/what-is-mr-palladium- telling-us-craig-h... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPo

Lots of talk about gold but only a hint about manipulation

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Submitted by cpowell on 11:02PM ET Saturday, December 1, 2018. Section: Daily Dispatches 6:04p ET Saturday, December 1, 2018 Dear Friend of GATA and Gold: A tiny bit of progress in the struggle to expose gold market manipulation by central banks can be found today at Forbes, where asset manager and economist Nathan Lewis contemplates mechanisms for restoring a gold standard. In an essay headlined "The Mythical Problem of Finding 'The Right Gold Price'" -- https://www.forbes.com/sites/ nathanlewis/2018/12/01/the- mythical-problem... -- Lewis writes that in recent years "central banks have engaged in other kinds of macroeconomic manipulation (negative interest rates!) to a degree never before seen. Probably they have done some heavy-handed bullying of the gold market itself." But there's nothing to be cheery about over at Barron's, which, in a report headlined "Is It Time to Hold Gold?" --

Craig Hemke at Sprott Money: Those 'exchange for physicals' at the Comex aren't real.

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Submitted by cpowell on 04:39PM ET Tuesday, November 27, 2018. Section: Daily Dispatches 11:44a ET Tuesday, November 27, 2018 Dear Friend of GATA and Gold: The TF Metal Report's Craig Hemke, writing today at Sprott Money, does the math on the last year's worth of the use of the "exchange for physicals" mechanism of settling gold futures contracts on the New York Commodities Exchange. Hemke calculates that nearly 2.4 million Comex gold contracts have been settled this way since last November, totaling 7,442 tonnes of gold. This total, Hemke notes, is 260 percent of annual gold mine supply and nearly equal to all the gold claimed to be vaulted by the members of the London Bullion Market Association, the Bank of England, and the Comex itself. How can this be? Hemke concludes: "There are no 'exchanges for physical' taking place at all -- at least not in the sense of actual, unencumbered, and allocated physic

GATA chairman discusses confession by ex-JPM trader

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Submitted by cpowell on 02:33PM ET Saturday, November 24, 2018. Section: Daily Dispatches 9:34a ET Saturday, November 24, 2018 Dear Friend of GATA and Gold: In an interview with Chris Marcus for StockPulse and Miles Franklin, GATA Chairman Bill Murphy discusses the confession to monetary metals market rigging by a former trader for JPMorganChase. Murphy also discusses the Bank of England's refusal to repatriate Venezuela's gold as well as the prospects for silver. The interview is 27 minutes long and can be viewed at YouTube here: https://www.youtube.com/watch? v=ML1jv0cn8rA&feature=youtu.be CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org

Banque de France wants Paris to compete with London for gold trade: GATA I THE GATA DISPATCH.

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Submitted by cpowell on 10:05PM ET Monday, November 12, 2018. Section: Daily Dispatches Macron Tries to Take UK's Gold Crown as Historic Rivalry Is Reborn By Ambrose Evans-Pritchard The Telegraph, London Sunday, November 11, 2018 https://www.telegraph.co.uk/ business/2018/11/11/macron- takes-aim-london-... Paris has vaulting ambitions to capture a share of the world gold trade from London, reviving its historic role as a top-tier power in the international bullion market. The Banque de France has teamed up with JP Morgan to offer a full range of swaps, leases, and gold deposits for global central banks and sovereign wealth funds. Global reserve managers will be able to pledge bullion as collateral for deposits or for raising foreign currency on the Paris market. Sylvie Goulard, the Banque de France's deputy governor, called it the spearhead of a sweeping shake-up of the French gold industry and left no doubt that one aim is to ch

Craig Hemke at Sprott Money: Into year-end with gold and silver I GATA I THE GATA DISPATCH

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Submitted by cpowell on 10:57PM ET Tuesday, November 6, 2018. Section: Daily Dispatches 5:58p ET Tuesday, November 6, 2018 Dear Friend of GATA and Gold: Writing today at Sprott Money, the TF Metals Report's Craig Hemke analyzes why gold and silver have failed to fulfill expectations this year but adds why he thinks they could recover by the end of the year. Hemke's analysis is headlined "Into Year-End with Gold and Silver" and it's posted at Sprott Money here: https://www.sprottmoney.com/ Blog/into-year-end-with-gold- and-silver-crai... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org

Chris Powell at New Orleans conference: Gold market manipulation update, Nov. 2018 I GATA I THE GATA DISPATCH

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Submitted by cpowell on 09:03PM ET Friday, November 2, 2018. Section: Daily Dispatches The slides for this presentation can be viewed here: http://gata.org/files/GATA- NOLA-2018-PPT-PDF-11-1-2018. pdf * * * SLIDE 1 -- TITLE Remarks by Chris Powell Secretary/Treasurer, Gold Anti-Trust Action Committee Inc. New Orleans Investment Conference Friday, November 2, 2018 Since we met at this conference last year much new evidence of manipulation of the gold market by central banks and their bullion bank agents has been compiled and disclosed by the Gold Anti-Trust Action Committee. For example, a month ago a major bullion bank, the Bank of Nova Scotia, admitted to the U.S. Commodity Futures Trading Commission that it had manipulated the gold and silver futures markets from June 2013 through June 2016. SLIDE 2 -- CFTC ANNOUNCEMENT https://cftc.gov/PressRoom/ PressReleases/7818-18 http://www.gata.org/node/18531 Ironically, i

Craig Hemke at Sprott Money: Bullion banks want market rigging, not higher prices: GATA I THE GATA DISPATCH

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Submitted by cpowell on 02:59PM ET Wednesday, October 31, 2018. Section: Daily Dispatches 9:50a CT Wednesday, October 31, 2018 Dear Friend of GATA and Gold: Writing at Sprott Money, the TF Metals Report's Craig Hemke notes today that the big commercial traders in the monetary metals futures markets, the bullion banks, have flipped from long to short again on what was only a small move up in prices. This, Hemke argues, shows that the banks envision forever making their money through market manipulation on behalf of central banks rather than through accumulating metal and someday driving prices up. Hemke concludes: "So, please: The next time you hear someone state that 'the banks are getting long' and that price is thus 'set to explode,' think otherwise. The banks that operate on the Comex are not your friend, they are not your ally, and they are not interested in profiting on the long side. Instead, thei

Divers searching for 'extremely rare' gold coins in 1840 shipwreck off South Carolina I GATA I THE GATA DISPATCH

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Submitted by cpowell on 03:26PM ET Tuesday, October 30, 2018. Section: Daily Dispatches By Mark Price Charlotte Observer, Charlotte, North Carolina Sunday, October 28, 2018 Theres a mysterious spot about 20 miles off South Carolina where centuries-old gold coins have been found strewn across the ocean floor for decades. It's believed to be the final resting place of the SS North Carolina, a steamship that historians say sank in 1840 under bizarre circumstances. n November -- 178 years after the ship went down -- an expedition is being launched to "reconfirm with absolute proof" the wreck's identity and unravel the mystery of why the North Carolina seemingly sank itself by heading straight into the path of another ship. But make no mistake: It's the stories of gold coins the are driving the expedition. ... ... For the remainder of the report: https://www.charlotteobserver. com/news/local/ article22043

A Bundesbank economist has a radical plan to halve Italy's debt I GATA I THE GATA DISPATCH.

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Submitted by cpowell on 02:24PM ET Sunday, October 28, 2018. Section: Daily Dispatches By Alessandro Speciale Bloomberg News Saturday, October 27, 2018 Italy's populist government doesn't need to ask for money from European partners to halve its debt -- it could tap the large private wealth of its citizens, Bundesbank economist Karsten Wendorff suggested. The radical proposal echoes the debate in Italian media over a potential "wealth tax." Unlike a tax, however, it wouldn't directly eat into the patrimony of the country's families, according to its proponent, who heads the German central bank's public finance department. "Instead of a European fund that buys Italian government bonds and that is ultimately backed by European taxpayers, a national fund should be created," Wendorff wrote in the Frankfurter Allgemeine Zeitung on Saturday. "This fund would buy Italian government bonds." S

Treasury official points finger at Turkey over Venezuelan gold trade I GATA I THE GATA DISPATCH

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Submitted by cpowell on 10:35PM ET Thursday, October 25, 2018. Section: Daily Dispatches By Lucas Robinson Medill News Service Wednesday, October 24, 2018 WASHINGTON -- The United States should publicize Turkey's involvement in the Venezuelan gold industry, a Treasury Department official said today. Marshall Billingslea, assistant secretary for terrorist financing at Treasury, said at a Brookings Institution event that the Turkish government has skirted international sanctions by purchasing tons of Venezuelan gold in recent months. Direct Access Gold reduces counterparty risk and systemic risk and ensures liquidity, competitive pricing, and outright ownership of investors' gold. Direct Access Gold protects our clients against certain systemic risks, including cyberwar involving electrical grid & internet outages. In the event of a technological failure, digital gold or exchange-traded fund providers may become un

Goldman Sachs' seedy underbelly exposed in shocking tapes I GATA I THE GATA DISPATCH

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Submitted by cpowell on 01:31PM ET Monday, October 15, 2018. Section: Daily Dispatches By Kevin Dugan New York Post Thursday, October 11, 2018 Fresh dirt has spilled at Goldman Sachs -- and this time it has been caught on tape. David Solomon, who took the helm of the Wall Street giant from Lloyd Blankfein last week, once blew off criticism of Goldman's double-dealing in a big energy merger as a matter of "perception" -- a cheeky dismissal that came despite a class-action lawsuit against the deal that eventually cost Goldman $20 million in fees. That's among the cringeworthy quotes that Carmen Segarra claims she secretly recorded behind closed doors for her new book "Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street." The 340-page expose expands on her previous claims that Goldman Sachs has long exploited an improperly cozy relationship with Wall Street regulators. ... ...

China suggests that it's done devaluing yuan I GATA I THE GATA DISPATCH

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Submitted by cpowell on 01:47PM ET Saturday, October 13, 2018. Section: Daily Dispatches China Echoes IMF Pledges to Avoid Using Currency as Trade War Tool By David Lawder and Leika Kihara Reuters Saturday, October 13, 2018 NUSA DUA, Indonesia -- China's top central banker today pledged to keep the yuan currency's value "broadly stable," a sign that Beijing may be trying to prevent a bruising trade dispute with the United States from spilling over into a currency war. People's Bank of China Governor Yi Gang's statement at the International Monetary Fund and World Bank annual meetings in Bali came as U.S. Treasury Secretary Steven Mnuchin said Chinese officials had told him that further yuan depreciation was not in China's interest. Mnuchin has reiterated his concerns that a major drop in the yuan's value this year against the dollar could be part of an effort to gain a trade advantage for Chin

Ronan Manly: Skepticism reigns about true state of China's gold reserves: GATA I THE GATA DISPATCH

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Submitted by cpowell on 06:41PM ET Friday, October 12, 2018. Section: Daily Dispatches 2:39p ET Friday, October 12, 2018 Dear Friend of GATA and Gold: Bullion Star gold researcher Ronan Manly today reviews China's practice of acquiring gold reserves surreptitiously and reporting them to the International Monetary Fund only at long intervals. In July 2015, Manly notes, China pledged to start regular reporting of gold reserve changes, and did make monthly updates for 14 months, but these stopped in October 2016 and no changes have been reported since. This, Manly suggests, tends to confirm your secretary/treasurer's frequent observation that the location and disposition of national gold reserves are secrets more sensitive than the location and disposition of nuclear weapons. Why? Because nuclear weapons can only destroy the world, while gold reserves facilitate the control of currency values, and whoever controls the cur

Signs suggest China may tolerate yuan's weakening past 7 per dollar I GATA I THE GATA DISPATCH.

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Submitted by cpowell on 01:04PM ET Thursday, October 11, 2018. Section: Daily Dispatches By Emma Dai and Tian Chen Bloomberg News Wednesday, October 10, 2018 There are growing signs China's yuan may weaken past 7 per dollar, a key psychological level it hasn't breached in a decade. The latest came in a China Securities Journal commentary Wednesday, where former central bank adviser Yu Yongding said authorities should refrain from market intervention and that tolerance of yuan weakness is needed for exchange-rate reform. The currency has already crossed the long-defended level of 6.9 against the dollar and is near its lowest since 2008. "Yu's commentary is likely part of China's efforts to shape expectation and prepare for the yuan to breach 7 per dollar, so that the market wouldn't panic when it happens," said Xia Le, Hong Kong-based chief Asia economist at Banco Bilbao Vizcaya Argentaria SA. ...

How intimately are major gold-mining companies connected with governments and central banks? I GATA I THE GATA DISPATCH.

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Submitted by cpowell on 03:32PM ET Monday, October 1, 2018. Section: Daily Dispatches 11:36a ET Monday, October 1, 2018 Dear Friend of GATA and Gold: Noting today's dispatch about the World Gold Council's latest confidential seminar for central bank and government officials -- http://gata.org/node/18527 -- our friend R.G. wonders just how intimately major gold-mining companies are involved with governments and central banks and indeed whether major miners are secretly cooperating with governments and central banks in controlling the price of the monetary metal. R.G. asks whether major gold miners are diverting some of their production to government buyers, short of the ordinary markets, in exchange for favors of some sort. After all, mining companies are completely vulnerable to governments for their mining rights, royalty requirements, and observance of environmental regulations. Of course it's unlikely that any

Ronan Manly: How serious is the Shareholders Gold Council? I GATAB I THE GATA DISPATCH

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Submitted by cpowell on 08:26PM ET Sunday, September 23, 2018. Section: Daily Dispatches 4:29p ET Sunday, September 23, 2018 Dear Friend of GATA and Gold: Bullion Star gold analyst Ronan Manly today expresses support for GATA's bid to make a presentation to and to join the new Shareholders Gold Council but is disappointed that four council members want to remain anonymous. Manly asks: "If they haven't even got the courage to publicly identify themselves, then how committed and motivated are they really to effect change within the gold-mining companies they invest in?" Manly's commentary is headlined "Paulson's Shareholders Gold Council Finally Launches After Initial Delays" and it's posted at Bullion Star here: https://www.bullionstar.com/ blogs/ronan-manly/paulsons- shareholders-gold... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action committee Inc. CPowell@GATA.org

Ted Butler: A constructive suggestion: GATA I THE GATA DISPATCH

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Submitted by cpowell on 04:16PM ET Friday, September 21, 2018. Section: Daily Dispatches 12:20p ET Friday, September 21, 2018 Dear Friend of GATA and Gold: Responding today to your secretary/treasurer's request a few days ago that he consider the possibility that the U.S. government is the real party in interest behind the rigging of the monetary metals markets and that the investment bank JPMorganChase is just the government's broker -- http://www.gata.org/node/18501 -- silver market analyst and rigging exposer Ted Butler acknowledges the possibility but explains why he still thinks the bank is the main culprit. Butler's commentary is headlined "A Constructive Suggestion" and it's posted at GoldSeek's companion site, SilverSeek, here: http://silverseek.com/ commentary/constructive- suggestion-17420 CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org

Japan hit by another cryptocurrency heist, with $60 million stolen: GATA I THE GATA DISPATCH

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Submitted by cpowell on 08:01PM ET Thursday, September 20, 2018. Section: Daily Dispatches By Taiga Uranak Reuters Wednesday, September 20, 2018 TOKYO -- Japanese cryptocurrency firm Tech Bureau Corp. said about $60 million in digital currencies were stolen from its exchange, highlighting the industry's vulnerability despite recent efforts by authorities to make it more secure. Tech Bureau, which had already been slapped with two business improvement orders by regulators this year, said its Zaif exchange was hacked over a two-hour period on Sept. 14. It detected server problems on Sept. 17, confirmed the hack the following day, and notified authorities, the exchange said today. ... ... For the remainder of the report : https://www.reuters.com/ article/us-crypto-currencies- japan-cybercrime/ja...

Stefan Gleason: Trump's back-door power play to rein in the Fed: GATA I THE GATA DISPATCH

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Submitted by cpowell on 08:45PM ET Tuesday, September 18, 2018. Section: Daily Dispatches By Stefan Gleason Money Metals News Service Tuesday, September 18, 2018 "Just run the presses -- print money." That's what President Donald Trump supposedly instructed his former chief economic adviser, Gary Cohn, to do in response to the budget deficit. The quote appears in Bob Woodward's controversial book "Fear: Trump in the White House." Trump disputes many of the anecdotes Woodward assembled. But regardless of whether the president used those exact words, they do reflect an "easy money" philosophy that he has expressed many times before. ... ... For the remainder of the commentary: https://www.moneymetals.com/ news/2018/09/18/trumps-power- play-fed-001619