Not a Penny More: The Time to Abolish the U.S. Coin Has Come By Sam LearnerFinancial Times, LondonSunday, April 16, 2023 They pile up in drawers. They're taken or left on a whim at store counters. Vending machines and parking metres won't accept them. And last year they cost the U.S. Treasury $100 million more to produce than they're worth. Despite all this, the penny -- America's copper-plated 1-cent coin -- persists. ... Dispatch continues below ... ... ADVERTISEMENT ... Fisher Precious Metals...

From Agence-France Pressevia Al Arabiya, DubaiSunday, April 16, 2023 Economic sanctions imposed on Russia and other countries by the United States put the dollar's dominance at risk as targeted nations seek an alternative, Treasury Secretary Janet Yellen said today. "There is a risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar," Yellen said on CNN. ... ADVERTISEMENT ... First Majestic Mines Silver and Gold ...

They seem to have learned their techniques from JPMorganChase traders. * * * From Garowe Online, Garowe, SomaliaSunday, April 16, 2023 NAIROBI, Kenya -- A number of undisclosed banks in Kenya are under investigation by the Competition Authority of Kenya for allegedly fixing foreign exchange trades, adding a fresh twist to the crisis that has seen lenders run out of dollars on some days. CAK reveals that the investigations are ongoing into the possible manipulation and collusion over the dollar e...

U.S. Dollar Scarcity Threatens Bolivia's 'Economic Miracle' By Carlos ValdezAssociated PressSaturday, April 15, 2023 LA PAZ, Bolivia -- Sofia Andrade, a lawyer, chose over the past month to withdraw all her dollar savings from the bank as the US currency became scarce on the streets of Bolivia. "I prefer to have them at home," she said. "I fear they won't let me withdraw them later." Like her, many Bolivians are withdrawing their dollar deposits or rushing to buy the U.S. currency amid increased...

11:33a ET Saturday, April 15, 2023 Dear Friend of GATA and Gold (and Silver): Former clients who lost their assets last year in the failure of the Angl0 Far East Bullion Co. in Panama are organizing in pursuit of redress and recovery and they seek contact with other former clients who might consider joining them. They have created an internet site through which they may be reached: https://aferestitution.com/ CHRIS POWELL, Secretary/TreasurerGold Anti-Trust Action Committee Inc.CPowell@GATA.org ...

By Ambrose Evans-PritchardThe Telegraph, LondonFriday, April 14, 2023 If you thought that zero rates and quantitative easing were a bad dream that we can all forget, you may be in for a surprise. It is again becoming clear that deflation remains the overarching structural threat to the world economy. A few brave analysts are already starting to flag a return to emergency QE as soon as next year, convinced that the US Federal Reserve and the European Central Bank have over-tightened and set in mo...

By Chris PowellJournal Inquirer, Manchester, ConnecticutSaturday, April 15, 2023 https://www.journalinquirer.com/opinion/chris_powell/living-on-our-own-earnings-is-the-real-threat-of-the-debt-ceiling/article_08a1281e-da0a-11ed-ae7e-43b76d1011f0.html What's the big deal about the federal debt ceiling? The controversy in Washington suggests that the federal government won't be able to spend as much money if it can't keep borrowing to do so. That's nonsense. Quite without incurring more debt the fe...

With the price of gold continuing to trader above $2,000, massive amounts of physical gold are being taken off the market around the world. April 15 (King World News) – Alasdair Macleod, head of research at Goldmoney:  “Look at how much (physical gold) is being delivered out of Comex. Standing for delivery this year, from January 1st, has been 118 tonnes. This is a very, very serious drain on Comex resources and liquidity in the market. And we’ve seen this on the rise in the gold price — how eve...

In addition to gaining full access to all SRSrocco Report public and Silver Member content, Gold members will be privy to 1-2 Gold Member posts per week in the SRSrocco Report Gold Vault on the topics listed below.  Gold Members will also receive deeper layers of analysis on the content provided to Silver Members and the general public. Your Gold Membership will give you first-rate, up-to-date summaries of what’s trending in the fields below, including “My Type of Analysis” SRSrocco’s trademark ...

7:04p ET Friday, April 14, 2023 Dear Friend of GATA and Gold (and Silver): Kinesis Money's "Live from the Vault" program this week is a discussion between London metals trader Andrew Maguire and Andrew Schectman of coin and bullion dealer Miles Franklin Precious Metals.  Schectman reports that retail demand for gold and silver exploded after the recent U.S. bank failures and that while demand long had been heaviest in silver, demand lately has shifted to gold. He recommends purchase of smaller c...

Bullion bank gold short positions are approaching the highest the level in history. This helps explain why the price is being taken down today.  April 14 (King World News) – Alasdair Macleod:  Gold and silver had a positive week, with prices rising strongly. In European trade this morning, gold was $2038, up $30 from last Thursday’s close (Friday was Good Friday), and silver was $25.95, up 100 cents. Silver’s outperformance, which is evident in our headline chart, has dropped the gold/silver rat...

JavaScript is disabled You need to enable JavaScript to use SoundCloud Show me how to enable it published on 2023-04-14T16:05:29Z With the Fed pausing rate hikes, Gold and Silver continue to flourish. Host Craig Hemke and analyst Chris Vermeulen of the Technical Traders break down all the charts you need to see before we reach new highs for Gold and Silver. In this edition of the Precious Metals Projections, you’ll hear: -What levels should we be watching on the GDX and SILJ -Will there be a pul...

What is happening right now is unimaginable and yet people wonder why the price of gold is exploding higher. April 13 (King World News) – Alasdair Macleod:  Increasing numbers of national governments are abandoning the US sphere of influence. Opportunities from trade with Asia compare favourably with rising currency and banking risks in a dollar-centric world. Against an imploding banking system in long-established financial markets, China’s renminbi looks like a safe haven. Thanks to a savings-...

By Kate Duguid, Lauren Fedor, and Colby SmithFinancial Times, LondonThursday, April 13, 2023 The cost of buying insurance against a U.S. government default has shot to its highest level in more than a decade, in an early sign of market concerns about the political impasse in Washington over the debt ceiling. Amid a stalemate between the White House and congressional Republicans on raising the federal borrowing limit, the price of five-year credit default swaps -- the most widely traded form of d...

4:20p ET Thursday, April 13, 2023 Dear Friend of GATA and Gold: An opinion column by Tyler Cowen of Bloomberg News today offered an awfully contrived rationale for U.S. dollar imperialism and exploitation throughout the world. But Cowen's acknowledging that imperialism and exploitation was service enough. In his column, "What De-Dollarization? The Dollar Rules the World" -- https://www.bloomberg.com/opinion/articles/2023-04-13/the-dollar-rules-the-world-now-and-for-the-foreseeable-future -- appe...

Gold is soaring once again today, knocking on the door of an all-time high as the Metal of Kings is disappearing out of Bank of England’s vault. April 13 (King World News) – James Turk:  Here’s another sign of growing tightness in gold. From the peak in Sep 2021, central banks have removed 18.7m oz ($37bn) from the custody of the Bank of England. 16 withdrawals over 18 months. Demand for physical gold is growing & silver too. Gold Holdings At Bank of England Are Tumbling Gold vs S&P 500O...

By Veronique de RugyCreators Syndicate, Hermosa Beach, CaliforniaThursday, April 13, 2023 I have heard some people say that the Federal Reserve has a credibility problem. The agency missed the biggest inflation spike since the 1980s, was slow to start rolling back pandemic policies, and failed to spot the risks that some banks, such as Silicon Valley Bank, were facing. Instead of instilling confidence and stability, the Fed's policy communication has at times been so unclear and confused that it...

By Alfred Cang, Jack Farchy, and Eddie SpenceBloomberg NewsThursday, April 13, 2023 JPMorgan Chase & Co. has cut dozens of base metals clients and slashed bankers' bonuses, as the business remains under harsh internal scrutiny in the wake of last yea's nickel crisis. JPMorgan, Wall Street's biggest player in metals, has been reviewing its commodity exposure for over a year after it played a prominent role as the biggest counterparty of the Chinese company at the center of the nickel short sq...

By Joe Leahy and Hudson LockettFinancial Times, LondonThursday, April 13, 2023 Brazil's president, Luiz Inácio Lula da Silva, has called on developing countries to work toward replacing the U.S. dollar with their own currencies in international trade, lending his voice to Beijing's efforts to end the greenback's dominance of global commerce. Kicking off his first state visit to China since taking office in January, Lula called for the countries of the so-called BRICS group of nations -- which in...

By Alasdair MacleodGoldMoney, TorontoThursday, April 13, 2023 Increasing numbers of national governments are abandoning the U.S. sphere of influence. Opportunities from trade with Asia compare favourably with rising currency and banking risks in a dollar-centric world. Against an imploding banking system in long-established financial markets, China's renminbi looks like a safe haven. Thanks to a savings-driven economy, China's consumer price inflation remained very low, when those of the western...