News Archives

: Category: News Archives; Created: 02 June 2021; Hits: 415

The mining industry has little ability to ramp up silver production to meet rising demand. After years of high grading and under-investment in acquiring new reserves, gold and silver mining isn’t going to be a growth industry anytime soon.

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: Category: News Archives; Created: 02 June 2021; Hits: 414

Every time there’s a critical problem in the banking system due to banker malfeasance, the Fed steps in to paper it over....

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: Category: News Archives; Created: 02 June 2021; Hits: 442

Data from the Institute for Supply Management and IHS Markit released Tuesday both showed the U.S. manufacturing sector continues to grow in spite of ubiquitous supply chain issues that hold the sector back from meeting its full potential during this recovery.

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: Category: News Archives; Created: 02 June 2021; Hits: 483

June 02, 21 by

(IDEX Online) - Banks that lost money in a $770m gold and diamonds loan scam in India in 2013 have won a legal victory in their bid to trace the missing cash.

A British judge yesterday restored four UK shell companies suspected of having laundered money lent to Indian-based Winsome Diamonds.

The move may enable Standard Chartered Bank and other lenders to trace the assets of an Indian gold and diamonds trader believed to have channeled the money to the UK via UAE largely through a series of derivatives contracts.

The banks accuse Winsome director Jatin Mehta of a "pre-meditated fraud", according to a report by the Law360 business newswire.

India's Central Bureau of Investigation (CBI) has been pursuing Mehta since 2013. Reports have suggested he may now be on the Caribbean island of St Kitts or in Montenegro.

Pic of Jatin Mehta from Facebook...

Diamond News Archives

Silver to Benefit Greatly from Global Electrification Push

Lee Adler: Banks Are As Fragile As Ever

Global Supply Chains Have Never Been This Clogged

Banks Chase Cash Lost to Winsome Diamonds

The US Mint Admits There’s a “Global Silver Shortage”