Kitco News
(Kitco News) – Yesterday, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Alrosa, a Russian state-owned enterprise and the world’s largest diamond mining company.
The post U.S. sanctions top diamond miner, Russia’s Alrosa appeared first on WorldSilverNews.
Yahoo! Finance: SI=F News
Olympians Suni Lee, Jade Carey, Jordan Chiles and Grace McCallum could return to elite gymnastics after competing in the NCAA.
The post In a change, Olympic gymnasts go to college and plan return to elite competition appeared first on WorldSilverNews.
Yahoo! Finance: SI=F News
Silver markets have fallen a bit during the course of the trading week to reach the 50 Week EMA. However, we have turned around to show signs of life again.
The post Silver Markets Find Support for the Week appeared first on WorldSilverNews.
Silver COT Report
Fri, 04/08/2022 – 15:35
Bloomberg/Joe Wiesenthal and Tracy Alloway/4-7-2022
“Out of this, I think this ‘Bretton Woods III’ that I started to kind of develop and run with, is a world where we are, again, going to go back to commodity-backed money — where gold, once again, is going to play a big role. And not just gold, but I think all forms of commodities.” – Zoltan Pozsar, Credit Suisse
USAGOLD note: Briefly, Pozsar sees a new world monetary order evolving on its own out of the war in Ukraine – what he calls Bretton Woods III. He says BlackRock’s Larry Fink is right when he says that globalization is probably over. If gold is going to once again play a significant role in the monetary order, as Pozsar suggests, would it make sense for the private investor to load up on it now while it is still cheap? We highly recommend the link above……
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Washington Post/Layna Mosley/4-7-2022
“Vladimir Putin is less likely to worry about this than the U.S. government might think. Defaulting on debt might be politically damaging, but losing a war would be politically catastrophic, endangering the survival of Putin’s regime. It would be unsurprising if Putin uses his scarce dollars to prosecute the war rather than to pay off bondholders.”
USAGOLD note: However the politics and perception play out, the net effect is still heavy pressure on the global banking system should Russia default – including the possibility of a black swan event. We should not forget that Russia’s debt default was seen as a passing event in 1998 until we discovered that Long Term Capital Management’s highly leveraged, underwater position in Russian bonds could collapse the entire financial system. (Layna Mosely is a professor of politics and international affairs at Princeton University.)
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