10 items in de category gata.org in woensdag
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World: Gata.org: [ Geolocation ] (Laatste update: woensdag 11 oktober 2023 12:56:10)
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Nigeria can be another African gold powerhouse
By Oluwatomisin Amokeoja Forbes / Forbes Africa, Jersey City, New Jersey Tuesday, October 10, 2023 According to Statista's second-quarter report, Nigeria has secured the sixth spot among the top 10 African countries with the most substantial gold reserves. At the forefront of West Africa, Nigeria boasts of 21.37 metric tons of gold reserves, valued at $1 billion -- resources considered by analysts as part of Nigeria's broader economic strategy to fortify foreign exchange reserves and decrease dependence on oil exports. ... Dispatch continues below ...
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In recent years, Nigeria has actively increased its gold reserves, signaling a proactive approach to diversify its economic portfolio and navigate the complexities of the global market. Nigeria's ascent in the gold reserves ranking reflects a broader trend across the continent, as several African nations seek to capitalize on their natural resources to drive economic growth and reduce dependence on volatile commodities. As Nigeria celebrates this milestone, there is a growing optimism among citizens and investors alike. Analysts note that the challenge now lies in leveraging these gold reserves to stimulate economic development, create jobs, and foster sustainable growth. ... ... For the remainder of the report: https://www.forbesafrica.com/current-affairs/2023/10/10/west-africas-gold-powerhouse-with-over-1-billion-in-reserves/ * * * Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com. * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://tinyurl.com/3xt6uw66 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Wed, 11 Oct 2023 03:28:50 +0000
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In GoldSeek Radio interview, GATA chairman discusses prospects for monetary metals
7:42p ET Monday, October 9, 2023 Dear Friend of GATA and Gold: GATA Chairman Bill Murphy and GoldSeek Radio's Chris Waltzek today discuss the prospects for the monetary metals amid rising debt and interest rates and the possibility that the Federal Reserve will stop raising rates. The interview is 14 minutes long and can be heard at Goldseek here: https://goldseek.com/article/goldseek-radio-nugget-bill-murphy-gold-cartel-price-manipulation CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
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Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com. * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Mon, 09 Oct 2023 23:43:07 +0000
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TRX Gold pays tribute to its founder and chairman Jim Sinclair
TRX Gold Announces Passing of Founder and Chairman James E. Sinclair Company Announcement Monday, October 9, 2023 https://www.trxgold.com/news/news-details/2023/TRX-Gold-Announces-Passing-of-Founder-and-Chairman-James-E.-Sinclair/ TORONTO -- TRX Gold Corp. is deeply saddened to announce the passing of its founder and chairman, James E. Sinclair, on October 6, 2023, at the age 82. James passed away peacefully at home in Connecticut, U.S.A. James founded TRX Gold and acted as chairman and director since 2000. His belief in Tanzania as a gold-rich landscape, in the ability and talent of the region's people, and the openness of Tanzanian government to foreign investors formed the basis for his perseverance in unlocking the Buckreef gold project's potential. Until his final moments, James acted as a supporter, mentor, and point of reference. ... Dispatch continues below ...
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"This is a great loss and moment of sadness for all of us at TRX Gold and the Buckreef gold project. On behalf of the company and its Board of Directors, we wish to offer Mr. Sinclair's family our sincerest condolences. "James was always positive and forward-looking and was excited by the trajectory of the company. He was a tenacious, hard-driving individual who challenged everyone around him to move forward and be better. We will continue to build on our current successes and his substantial legacy," explains Stephen Mullowney, TRX Gold chief executive officer. To those outside the company, James was perhaps best known as "Mr. Gold," being a true believer in the value of gold and its ability to generate and preserve wealth. He is remembered for boldly and accurately predicting that the price of gold would rise from $150 per troy ounce to $900 per troy ounce, between 1977 and 1980. He led a successful career as a precious metals specialist, market maker, and commodities and foreign currency trader. He was the original founder and explorer of the Bulyanhulu mine through Sutton Resources, which is one of the most productive gold mines in Tanzania to this day. He was a notable author and commentator on topics such as precious metals, trading strategies, geopolitical events and global markets. Incredibly, through the ups and downs of the financial markets, his audience has remained faithful over the last two decades and more. His memory lives on with more than 500 TRX Gold and Buckreef Gold employees and contractors on two continents, as well as the countless individuals he touched through his work around the world. * * * Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com. * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Mon, 09 Oct 2023 14:17:17 +0000
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Ed Steer's weekend review posted in the clear at SilverSeek
11:51a ET Sunday, October 7, 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 "A COT Report Certainly Worth Framing" and it's posted in the clear at GoldSeek's companion site, SilverSeek, here: https://silverseek.com/article/cot-report-certainly-worth-framing CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
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Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com. * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Sun, 08 Oct 2023 15:51:19 +0000
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Gold premiums in Moscow and Shanghai will bust Comex, Maguire says
11:45p ET Saturday, October 7, 2023 Dear Friend of GATA and Gold: Kinesis Money's "Live from the Vault" program this week has London metals trader Andrew Maguire asserting that substantial premiums for gold in the Moscow and Shanghai markets continue to draw bullion out of the West, where the gold price is suppressed by official policy, and eventually will bust the New York Commodities Exchange's gold futures business. Maguire adds that speculators now are the big shorts in gold futures and that all major bullion banks have gone long. The program is 38 minutes long and can be viewed at YouTube here: https://www.youtube.com/watch?v=lbfEGzF2pm8 CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org
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Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com. * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Sun, 08 Oct 2023 03:45:38 +0000
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Jim Sinclair, the 'Mister Gold' of the United States, dies at 82
8:47p ET Friday, October 6, 2023 Dear Friend of GATA and Gold: James E. Sinclair, long the "Mister Gold" of the United States -- an advocate of gold as money, a gold market maker, a gold mining company founder, and an internationally known commenter on the markets -- died of a heart attack today, his business associate, Bill Holter, confirmed to GATA. He was 82. ... Dispatch continues below ...
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Sinclair was founder of Tanzanian Gold Corp., of which he long was executive chairman, retiring from that position in 2021 to become chairman of the company's Board of Directors. We await more information from the company. Appended is the biography Tanzanian Gold Corp. published two years ago upon Sinclair's transition from executive chairman to chairman of the board. CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org * * * James E. Sinclair Turns 80 Years Old and Retires as Executive Chairman Tanzanian Gold Corp. Announcement Tuesday, April 27, 2021 https://www.trxgold.com/news/news-details/2021/James-E.-Sinclair--Turns-80-Years-Old-and-Retires-as-Executive-Chairman/default.aspx Tanzanian Gold Corp. would like to congratulate its founder, James E. Sinclair on recently turning 80 years old, and announce that Mr. Sinclair has retired as executive chairman to continue service as chairman of the Board of Directors for the company. TanGold has had the privilege of being founded and directed since 2000 by the leadership of the renowned James E. Sinclair. It is with profound gratitude that the company acknowledges his contribution to the present success and long-term resilience of our enterprise. The company is on the path to further achievements that stem from the foundation created by Mr. Sinclair. Mr. Sinclair is well known in gold, mining, and commercial markets. He has been known and respected fondly as "Mister Gold" since he boldly and accurately predicted the price of gold would rise from $150 per troy ounce in 1977 to $900 per troy ounce. The price of gold in 1980 fell just short of his now famous prediction. He has had a stellar career as a precious metals specialist, market maker, and commodities and foreign currency trader. He was the original founder and explorer of the Bulyanhulu mine through Sutton Resources, which has been one of the most productive gold mines in Tanzania. Jim is known for the successful Sinclair companies, which have operated around the globe, and was the individual who liquidated the Hunt Brothers' precious metals position in the 1980s. He has authored numerous books, magazine, and newspaper articles regarding a variety of investment topics, including precious metals, trading strategies, geopolitical events and their relationship to global economics, and markets. He is also a sought-after commentator on these subjects for media interviews. * * * Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com. * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://tinyurl.com/3xt6uw66 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Sat, 07 Oct 2023 00:45:17 +0000
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Prohibit gold mining? Totalitarians would love that
8:19p ET Friday, October 6, 2023 Dear Friend of GATA and Gold: Toronto's Glode and Mail today published a long essay by Christopher Pollon, a Vancouver-based journalist who focuses on the mining industry, arguing for prohibiting gold mining on account of the environmental damage it often does. Toward the end of his essay Pollon acknowledges gold's monetary function but suggests that it could be sustained by digitizing unmined gold from certified reserves, creating another sort of digital currency like bitcoin. ... Dispatch continues below ...
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Pollon's essay is headlined "The Case for Leaving Gold in the Ground" and can be found here: https://www.theglobeandmail.com/opinion/article-the-case-for-leaving-gold-in-the-ground/ Of course Pollon is probably not aware of the longstanding gold price suppression policy of Western central banks and particularly the U.S. government, a policy that has been documented by GATA for more than 20 years and is summarized comprehensively here: https://gata.org/node/20925 So it may not have occurred to him that to prohibit gold mining is not just to prohibit physical possession of new supplies of gold but also to leave with central banks -- that is, governments -- control of the biggest supplies of the monetary metal and thus control of the metal's price. Prohibiting gold mining means tightening central banking's control of money, financial systems, and the value of all capital, labor, goods, and services in the world -- the control of everything and everybody. In turn that would increase the power of government across the board, particularly the warmaking power, which as a practical matter can be restrained only by limits on the money supply or alternatives to government money. The only practical restraint on government's power to issue unlimited money is physical gold in the hands of outsiders, functioning as an independent means of exchange. The digitalization of unmined gold reserves isn't likely to accomplish anything, for who would verify and trust it, especially in time of war or financial stress? It wouldn't be any more secure than bitcoin and other digital currencies, which are based on a supply believed to be finite and the assumption that government will not interfere with the internet and the ordinary operation of banking systems. (Could Pollon really be that naive?) Yes, gold mining does a lot of environmental damage -- but perhaps most because its price has been so suppressed by central bank intervention in the gold markets. This price suppression increases the incentive of all miners, not just the "artisinal" miners cited by Pollon, to evade the cost of environmental remediation, since that cost can't be built into a suppressed gold price without making gold's mining unprofitable. Besides, the environmental damage done by gold mining is nothing compared to the environmental damage done by stupid imperial wars, like those waged almost constantly since the end of World War II -- wars made politically possible only by money creation and inflation. Gold as a form of money that can be produced and maintained independently of governments and central banks is the essential mechanism of limited government and individual liberty. High-minded as prohibiting gold mining may sound to Pollon, it would be another giant step toward totalitarianism. CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org * * * Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at: bagman1236@aol.com * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://tinyurl.com/3xt6uw66 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Sat, 07 Oct 2023 00:06:45 +0000
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Ambrose Evans-Pritchard: Why the Fed will again have to slash rates to zero and relaunch QE
By Ambrose Evans-Pritchard The Telegraph, London Friday, October 6, 2023 The U.S. economic expansion is being kept afloat only by extreme fiscal stimulus and war-time deficits, an astonishing state of affairs at the top of the cycle. The federal government is unable to fund this scale of borrowing from U.S. domestic savings, and global creditors are no longer willing to fund it either at bearable cost. ... Dispatch continues below ...
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The violent spike in U.S. Treasury yields over the last two months has nothing to do with inflation, which has been falling faster than markets expected. Real rates are rocketing, driven by a sudden jump in the "term premium." Think of it as a credit crunch being imposed upon a feckless political class in Washington by global bond vigilantes. A very slow-burning fuse has finally, and suddenly, reached the powder keg, confirming the Dornbusch adage that financial crises always take longer than you think, but then unfold much faster than you expected. Bernard Connolly, the world's foremost Wicksellian economist, says the U.S. fiscal bubble is the latest in a long string of bubbles required to keep Western economies above water. "If the fiscal deficit is reduced, the Federal Reserve will have to collapse interest rates," he said. As the international capital markets pull the plug on U.S. fiscal incontinence, the Fed will again have to come to the rescue. It will have to restore negative real rates and blanket the debt markets with quantitative easing à outrance, or risk an economic depression. This in turn will launch the next QE bubble. ... So where do you turn? Sooner or later the U.S. economy will snap, and the world economy will snap with it, and this will short-circuit the rise in bond yields. You could do worse than buying 20-year or 30-year Treasuries, gilts, bunds, or French OATs, at a fraction of face value. You hold tight until central banks slash rates and abandon QT, realising how much they have over-tightened (too late, my friends), and then flip all the way to QE, this time by another name to fool us for a while. For the brave, the contrarian bunt of the moment is Austria's 100-year bond, trading today at 4% of face value, the perfect QE play. Or if you want a plain-vanilla defence against spiralling deficits and financial repression, just buy gold. ... For the remainder of the analysis: https://www.telegraph.co.uk/business/2023/10/06/why-fed-will-again-slash-rates-zero-relaunch-qe/ * * * Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at: bagman1236@aol.com * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://tinyurl.com/3xt6uw66 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Fri, 06 Oct 2023 14:53:57 +0000
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Pam and Russ Martens: Despite Citibank's record bailout in 2008, 85.5% of its deposits lack FDIC insurance
By Pam and Russ Martens Wall Street on Parade Thursday, October 5, 2023 As evidenced by the speech that the chairman of the Federal Deposit Insurance Corp., Martin Gruenberg, delivered at a conference yesterday, the FDIC is very much aware that both the level of uninsured deposits and the concentration of those uninsured deposits among a handful of mega banks is a serious problem for the U.S. banking system. Gruenberg didn't name names, but we will do that in this article. ... Dispatch continues below ...
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Gruenberg pointed out in his speech that year-end data for the three banks that failed this past spring indicated that anywhere from 90% to 70% of their deposits were uninsured. (During a banking panic, uninsured deposits are typically those that head for the exits at the fastest clip.) But those three failed banks (Silicon Valley Bank, Signature Bank, and First Republic Bank) were minnows compared to the asset-size of the banking whales that now account for most uninsured deposits in the U.S. banking system. According to the FDIC, as of June 30 there were 4,645 federally-insured commercial banks and savings associations in the United States. Uninsured deposits at all 4,645 institutions totaled $7.134 trillion at the end of the second quarter. But according to call reports filed by JPMorgan Chase Bank, Bank of America, Wells Fargo, and Citigroup's Citibank, as of June 30, just those four banks accounted for $4.185 trillion of uninsured deposits, or 59% of all uninsured deposits at all 4,645 federally-insured institutions. ... ... For the remainder of the analysis: https://wallstreetonparade.com/2023/10/after-getting-the-largest-bailout-in-u-s-history-in-2008-85-5-percent-of-the-1-34-trillion-in-deposits-at-citigroups-citibank-lack-fdic-insurance-today/ * * * Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com. * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://tinyurl.com/3xt6uw66 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Thu, 05 Oct 2023 15:35:33 +0000
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Alasdair Macleod: Unwinding the financial system
By Alasdair Macleod Head of Research, GoldMoney, Toronto via Schiff Gold, White Plains, New York Thursday, October 5, 2023 This article looks at the collateral side of financial transactions and some significant problems that are already emerging. At a time when there is a veritable tsunami of dollar credit in foreign hands overhanging markets, it is obvious that continually falling bond prices will ensure bear markets in all financial asset values leading to dollar liquidation. This unwinding corrects an accumulation of foreign-owned dollars and dollar denominated assets since the Second World War both in and outside the U.S. financial system. ... Dispatch continues below ...
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Furthermore, collapsing collateral values, which are increasingly required backing for changing values in over $400 trillion nominal in interest rate swaps, are a new driver for the crisis, forcing bond liquidation, driving prices down, and yields higher. We are in a doom loop. What action can the authorities take to ensure that counterparty risk from widespread failures won't take out inadequately capitalised regulated exchanges? It seems that they acted some time ago by giving central security depositories (the Depository Trust and Clearing Corp., Euroclear, and Clearstream) the right to pool securities on their registers and lend them out as collateral. Your investments, which you think you own, can be absorbed into the failing financial system without your knowledge. This seems particularly relevant, given the appointment of JPMorgan Chase as custodian of the large gold exchange-traded fund, SPDR Trust (GLD). In a test case in the New York courts concerning Lehman's failure, JPMC was given legal protection should it seize its customers' assets. This important erosion of property rights is poorly understood. But as the financial distortions are unwound, leading to unintended consequences such as bank failures and ultimately the collapse of the dollar-based fiat currency regime, the implication is that holders of physical gold ETFs will be left owning an empty shell at a time when they might have expected some protection from the collapse of the value of credit. ... ... For the remainder of the analysis: https://schiffgold.com/commentaries/unwinding-the-financial-system/ * * * Join GATA here: New Orleans Investment Conference Hilton New Orleans Riverside Hotel Wednesday-Saturday, November 1-4, 2023 https://tinyurl.com/57xbtjjw * * * Toast to a free gold market with great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here's what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com. * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon -- https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1 -- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Thu, 05 Oct 2023 15:25:22 +0000
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