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GATA Daily Dispatches


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Ronan Manly: Where's the bulk of the gold supposedly held at West Point?

Submitted by cpowell on Fri, 2019-05-10 18:59. Section: Daily Dispatches

3p ET Friday, May 10, 2019

Dear Friend of GATA and Gold:

Bullion Star gold researcher Ronan Manly wonders today why the U.S. Mint at West Point, New York, periodically displays its working vault for coin manufacture but never the 11 storage vaults in which most of the U.S. Treasury gold held at West Point is purportedly stored.

Manly writes: "The constant references by the U.S. Mint to 54 million ounces of gold held in storage for the U.S. Treasury while showing the visiting media gold bars used in the bullion coin-minting process -- that are stored in a completely different room -- is a disingenuous and misleading exercise by the West Point mint. On their periodic outings to the West Point facility, the visiting media could at least question why they are only ever shown a working vault housing gold bar inputs into the mint's bullion coin programs, and not even the corridors and 11 compartment doors where the 54 million ounces of deep-storage gold are claimed to be held."

Manly's commentary is headlined "The Only Gold the U.S. Shows -- A Working Vault at West Point" and it's posted at Bullion Star here:



Seven banks face EU antitrust fines for forex rigging, sources tell Reuters
Submitted by cpowell on Fri, 2019-05-10 01:11. Section: Daily Dispatches

By Foo Yun Chee
Thursday, May 9, 2019

BRUSSELS, Belgium -- Barclays, Citigroup, HSBC, JPMorgan, and three other banks are set to be fined by European Union antitrust regulators in coming weeks for rigging the multi-trillion dollar foreign exchange market, two people familiar with the matter said.

The other three lenders are Royal Bank of Scotland, UBS, and a small Japanese bank, the people said. The banks will see a 10 percent cut in their fines for admitting wrongdoing.

In contrast, Credit Suisse, which has previously said it did not find any evidence of misconduct, is fighting the EU antitrust charge. It is not clear if the European Commission will be able to finalize the case in time to levy a fine against the Swiss bank in coming weeks.

The EU antitrust enforcer, which has been investigating the case over the last six years and could hand out fines up to 10 percent of a company's global turnover for breaching EU rules, declined to comment. ...

... For the remainder of the report:



Gold price suppression is biggest issue in the world, GATA secretary tells GoldCore's O'Byrne

Submitted by cpowell on Thu, 2019-05-09 15:35. Section: Daily Dispatches

11:42a ET Thursday, May 9, 2019

Dear Friend of GATA and Gold:

In an interview with bullion dealer GoldCore's Mark O'Byrne the other day, your secretary/treasurer discussed GATA's work, including:

-- The legal authorization of the U.S. government to rig the gold market surreptitiously to defend the U.S. dollar against competition as the world reserve currency.
» read more

AngloGold Ashanti to dispose of remaining South African mines
Submitted by cpowell on Thu, 2019-05-09 15:11. Section: Daily Dispatches

By Allan Seccombe
Business Day, Johannesburg
Thursday, May 9, 2019

» read more

Congressman proposes U.S. gold audit that covers leases, swaps
Submitted by cpowell on Wed, 2019-05-08 16:15. Section: Daily Dispatches

From Money Metals News Service, Eagle, Idaho
Wednesday, May 8, 2019

WASHINGTON -- U.S. Rep., R-West Virginia, this week introduced legislation to provide for the first audit of United States gold reserves since the Eisenhower administration.
» read more


China announces fifth straight month of growth in gold reserves
Submitted by cpowell on Wed, 2019-05-08 13:57. Section: Daily Dispatches

China's Central Bank Stocks up on Gold as It Seeks to Diversify

By Henry Sanderson
Financial Times, London
Wednesday, May 8, 2019

China's central bank added gold to its reserves for the fifth month in a row in April, the latest emerging market central bank to stock up on the yellow metal.
» read more

Craig Hemke: Two inglorious anniversaries for gold and silver
Submitted by cpowell on Tue, 2019-05-07 21:25. Section: Daily Dispatches

5:25p ET Tuesday, May 7, 2019

Dear Friend of GATA and Gold:

Craig Hemke of the TF Metals Report, writing at Sprott Money, today recalls the anniversaries of the Bank of England's infamous gold sales of 1999 and what he calls the May Day Massacre of silver by JPMorganChase in 2011.
» read more

Ronan Manly: Churning membership curses London gold banking cartel
Submitted by cpowell on Mon, 2019-05-06 16:49. Section: Daily Dispatches

12:50p ET Monday, May 6, 2019

Dear Friend of GATA and Gold:

Bullion Star's gold market analyst Ronan Manly today examines the churning membership of the London gold banking cartel, from which Societe Generale has just resigned.

Manly's commentary is headlined "Curse of the London Gold Fix Strikes Again as SocGen Abandons Ship" and it's posted at Bullion Star here:
» read more

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