Gold and What Moves it.
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TINFOIL TUESDAY – ANARCHY IN THE US EDITION « The Burning Platform

TINFOIL TUESDAY – ANARCHY IN THE US EDITION « The Burning Platform | Gold and What Moves it. | Scoop.it

Latest From the Hill: Congress Criminalizes the Right to Free Assembly; Strips Basic Protections of First Amendment

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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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LearCapital | Download Lear Gold & Silver Daily Today!

LearCapital | Download Lear Gold & Silver Daily Today! | Gold and What Moves it. | Scoop.it

Download the Free Lear Gold & Silver Daily Today!

 

Stay on top of the latest breaking commodities market news, coin prices, real time charts and special promotions from Lear Capital's “Lear Gold and Silver Daily” app for both iOS  and Android devices .

 

The Lear Gold and Silver Daily app is a special new benefit brought to you by Lear Capital at no additional cost.

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Jesse's Café Américain: The Next Battleground for Gold Will Be At 1550 If the Cup and Handle Formation Completes

Jesse's Café Américain: The Next Battleground for Gold Will Be At 1550 If the Cup and Handle Formation Completes | Gold and What Moves it. | Scoop.it
If and when gold breaks out of this cup and handle formation, which is a matter of probability and not certainty, the next real battleground in a new bull market will be around $1550. One of the more interesting variables will be the manner of any breakout, and the 'time' it takes to reach a minimum measuring objective.

This is quite appropriate as 1550 marks the major support level for the channel in which gold had been moving prior to the recent bear market.

A successful cup and handle formation, should this occur, would mark a bottom for gold and quite possibly a resumption of another leg of the bull market.

It will be interesting to see how the future movement of gold as a cross to the US dollar may unfold. If the money masters were wise, they would permit it to rise back into the old trend channel and seek to find a balance in the wagers with the available physical supply.
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The Chances Of A COMEX Default... (Public Article) :: Jim Sinclair's Mineset

…IS GUARANTEED in my opinion!

Dear CIGAs,

I would not normally write something like this but it seems I had to. Last week, Bob Moriarty of 321 Gold wrote a story with the exact same title http://www.321gold.com/editorials/moriarty/moriarty041916.html and came to the conclusion “…is zero”. He began his article by saying “So anyone telling you Comex is about to default either doesn’t have a clue as to how commodity markets work or they are deliberately lying to you.”

He then goes on to say “But the chance of a ‘Gold Derivatives Time Bomb,’ is also zero. There is no such thing. And there is no such thing as a ‘Commercial Signal Failure’ or a 400 ounce gold bar made of tungsten.” Is he serious? When well over 100 pieces of paper “call” on the one underlying real ounce …there is no chance of failure? Is he trying to say the commercials can NEVER ever be wrong and forced to cover because they cannot deliver “promised” but non existent gold? Is he trying to say 400 ounce tungsten bars have not already turned up? I do want to point out, this is the same man who said a derivatives blowup can never happen. I think those at Bear Stearns and Lehman Brothers would beg to differ with him! We already know for a fact, we were only hours away from a total financial meltdown in 2008 were it not for the Fed magically creating $16 trillion. It is clear to me, since the amount of global derivatives far exceed the underlying assets they represent, true “settlement” or “performance” is a foregone impossibility as the “pie” only gets bigger. The only question now is “how big is TOO big”?
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Dollar Selling Panic Coming-John Williams | Greg Hunter’s USAWatchdog

Dollar Selling Panic Coming-John Williams | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
Economist John Williams has long predicted the $16 trillion in U.S. dollar assets held outside of America will be sold in a panic. The time draws near for that scenario to unfold, and Williams explains, “When people start selling the dollar, or dollar denominated assets, you will see the value of the plunge.  We have had a remarkable rally in the dollar since mid-2014, and it is up over 30%.  It is going to be going down by more than that, and we are going to be headed to new lows.  We have the waffling of the Fed and the beginnings of the perception that the economy is in serious trouble, which generally would be negative for the dollar.  We have started to see selling pressure on the dollar.  It has been inching lower.  It’s down year to year now. . . . The selling is going to intensify, not only with large central banks, but with corporations that will be beginning to dump their Treasury holdings. . . . Nobody wants to be the last one out the door when you have a panic like this.  It’s not a panic yet, but the potential certainly is there.”
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Hackers Who Got Caught by a Typo Were Trying to Take Over the World

Hackers Who Got Caught by a Typo Were Trying to Take Over the World | Gold and What Moves it. | Scoop.it
The hackers behind a large-scale Bangladesh bank hack went further than simply stealing money. Now it turns out that they created malware that could compromise the internationally used SWIFT payment system.

BAE Systems researchers tell Reuters that the hackers who took the central bank of Bangladesh for a ride compromized the SWIFT system using malware. SWIFT has confirmed to Reuters that it’s “aware of malware targeting its client software.” The organization plans to issue an update for its software some time today to protect the payment systems from attack.
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Jesse's Café Américain: The US Government Is Holding Counterparty Risk for Wall Street Derivatives (And So Are You)

Jesse's Café Américain: The US Government Is Holding Counterparty Risk for Wall Street Derivatives (And So Are You) | Gold and What Moves it. | Scoop.it
"Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country.

When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin!

You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out."

Andrew Jackson, in a meeting with the Bankers in Philadelphia, February 1834

Just as in the case of AIG, which was 'bailed out' at 100 cents on the dollar not to help them, but to provide a big cash infusion to places like Goldman Sachs, so Wall Street continues to socialize their reckless gambling with the help of their 'friends' in the government and the media.
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China's Shanghai Exchange Sends Price Of Silver Soaring & Gold Surging! - King World News

China's Shanghai Exchange Sends Price Of Silver Soaring & Gold Surging! - King World News | Gold and What Moves it. | Scoop.it
By Bill Fleckenstein President Of Fleckenstein Capital
April 19 (King World News) – Overnight Asia recouped what it lost Sunday night and Europe was about 1% higher, with the SPOOs gaining about 0.3%. That despite IBM declining on a horrible quarter, which was described as a “beat” for the benefit of the fools who only read headlines, when approximately $1 of its earnings (roughly half) was due to a tax rate change. Quarterly revenues are now back to where they were about 14 years ago. Gee, really great quarter, guys! The market wasn’t fooled, however, and the share price dropped 5% after hours and was 2% weaker still today…
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The Keynesian House Of Denial

The Keynesian House Of Denial | Gold and What Moves it. | Scoop.it
We use the term “Keynesian” loosely to stand for economic interventionists of all schools. The followers of JM Keynes and Milton Friedman alike fit that category. So do some of the more rabid supply siders who claim the power to stimulate ultra-high economic growth with the tools of tax policy alone.

The common denominator is economic statism. That is, the assumption that the state, including its central banking branch, is indispensable to economic progress and prosperity.

As the various denominations of the Keynesian economic church have it, capitalism is always veering toward the ditch of under-performance and recession when left to its own devices and natural tendencies; and, if neglected by the wise policy-makers of the central state too long, it lapses toward outright depression and collapse.
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Precious Metals and the Balancing Act

Precious Metals and the Balancing Act | Gold and What Moves it. | Scoop.it
Why Buy Silver?
As an investor, why should you buy precious metals? The market right now is demonstrating pitch perfectly the case we’ve been making for precious metals and portfolio balance.
The market really can be quite the balancing act these days. While it would be great to have all assets in your portfolio continually going up all the time, we know that just doesn’t happen. For ideal balance you need “contra assets”- that is, assets that move opposite the market, so that when several sectors plunge at the same time, you have something that surges. Assets that move counter to the market even out those valleys and help you sleep a little better at night.
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Yes, The Dollar Should Be Backed By Gold

Yes, The Dollar Should Be Backed By Gold | Gold and What Moves it. | Scoop.it

A Return to Gold

BUENOS AIRES, Argentina ­– “What if you were appointed to head the Fed? In your first week on the job, what would you do?”

The question was not exactly serious. Neither was the answer.

“We’d call in sick.”

Drought, old age, traffic congestion, meanness, purple drink, bad taste, rap, suburbs, cancer, government, Hillary Clinton, restaurant music, shorts, Facebook, obesity – there are a lot of things wrong in the world. And most of them are not easily put right.

But there are some problems that could be solved overnight. Economic and financial problems, for example, solve themselves… if you let them. Almost all the macro-money wounds suffered by the modern world are self-inflicted.

Central banks and treasury departments around the world keep shooting themselves in the foot. But rather than stop manipulating the system… they buy another pair of shoes.

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oftwominds-Charles Hugh Smith: The Root of Rising Inequality: Our "Lawnmower" Economy (hint: we're the lawn)

oftwominds-Charles Hugh Smith: The Root of Rising Inequality: Our "Lawnmower" Economy (hint: we're the lawn) | Gold and What Moves it. | Scoop.it
This predatory exploitation is only possible if the central bank and state have partnered with financial Elites.
After decades of denial, the mainstream has finally conceded that rising income and wealth inequality is a problem--not just economically, but politically, for as we all know wealth buys political influence/favors, and as we'll see below, the federal government enables and enforces most of the skims and scams that have made the rich richer and everyone else poorer.
Here's the problem in graphic form: from 1947 to 1979, the family income of the top 1% actually expanded less that the bottom 99%. Since 1980, the income of the 1% rose 224% while the bottom 80% barely gained any income at all.
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Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic

Mainstream news outlets are already starting to use the phrase “economic collapse” to describe what is going on in some areas of our world right now.  For many Americans this may seem a bit strange, but the truth is that the worldwide economic slowdown that began during the second half of last year is starting to get a lot worse.  In this article, we are going to examine evidence of this from South America, Europe, Asia and North America.  Once we are done, it should be obvious that there is absolutely no reason to be optimistic about the direction of the global economy right now.  The warnings of so many prominent experts are now becoming a reality, and what we have witnessed so far are just the early chapters of a crushing economic crisis that will affect every man, woman and child in the entire world.

Let’s start with Brazil.  It has the 7th largest economy on the entire planet, and it is already enduring its worst recession in 25 years.  In fact, at the end of last year Goldman Sachs said that what was going on down there was actually a “depression“.

But now the crisis in Brazil has escalated significantly.
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Gold once Again Proves to be The Best Defense Strategy | Claudio Grass | Safehaven.com

Gold once Again Proves to be The Best Defense Strategy | Claudio Grass | Safehaven.com | Gold and What Moves it. | Scoop.it
The global economy is stuck... gold is on a roll!
In the first quarter of 2016, the gold price rallied by 14.3%, and in February alone, it jumped 9.6% - this was the highest single-month increase in four years. 2016 has so far not shown any positive changes on the economic front. Growth remains rather slow, much slower than projected by government authorities and the various mainstream market experts and gurus. So what could have driven the demand for the precious metal? It goes back to the basics: Risk!
What is abundantly clear is that investors, whether individuals or institutions, are hedging against the volatility in the equity markets and the existing (and rising) economic uncertainty, stirred by the recent central bank decisions. In its last committee meeting, the Federal Reserve decided to maintain its target rates for the federal funds rate at 0.25% and 0.5%, but changed its outlook that it will hike rates twice and not four times within the coming year (as was previously announced). If we don't have any unexpected surprises, we doubt we will even have two rate hikes this year. Meanwhile, the European Central Bank moved deeper into negative territory, dragging the deposit rate down to the ultra-low level of minus 0.4 percent. ECB President Mario Draghi also announced larger bond purchases of EUR 80 billion per month (up from EUR 60 billion previously). And while Draghi said that he cannot take rates further down, who is to say that this is final? In the case of the Fed, many had expected a further rate hike this time around, putting their trust in the Fed's previous announcement that it will likely raise rates four times in 2016. Instead, the Fed surprised markets by maintaining current rate levels and announcing that potential rate increases will be limited to (possibly) two only. To top it all off, Fed Chair Janet Yellen stoked the fire further with her remarks regarding the European approach to negative rates: "We wouldn't take those off the table", she commented, when asked by Republican Senator Bob Corker whether the monetary policy-making Federal Open Market Committee would consider going to negative interest rates.
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SharpsPixley.com | Live Gold Prices, Gold Charts and Gold Headlines

There will be arguments as to which came first – the overnight rise in gold price on global after-hours markets, or the Shanghai Gold Exchange (SGE) pm fix – but the latest SGE figure of CNY 261.88 was at the higher end of trading being equivalent to around US$1,258 at the current CNY/USD exchange rate.  Whether the SGE gold fix is leading, or following, the general price trend is thus open to question.  But perhaps the principal driver of the overnight rise in the gold price will have been the fall in the US dollar, with the Japanese central bank keeping its monetary policy steady at its latest meeting.  The Japanese yen thus rose around 2% against the US dollar, which has a significant impact on the US Dollar Index, which fell around two-thirds of a percent.

Needless to say, though, the move above the $1,250 level, which had been strongly resisted on the U.S. and London spot markets yesterday, was breached in the overnight trade.
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oftwominds-Charles Hugh Smith: America's Entitled (and Doomed) Upper Middle Class

oftwominds-Charles Hugh Smith: America's Entitled (and Doomed) Upper Middle Class | Gold and What Moves it. | Scoop.it
The upper middle class is well and truly doomed by self-delusion and the pathology of entitlement.
Two recent articles describe America's entitled (and doomed) upper middle class: the top 5% of households with incomes above $206,500 annually and individuals with incomes of $160,000 or higher annually. (source: Historical Income Tables: Households Census.gov)
The first describes how businesses are responding to the new Gilded Age in which spending by the top 5% has pulled away from the stagnating bottom 95%:

In an Age of Privilege, Not Everyone Is in the Same Boat Companies are becoming adept at identifying wealthy customers and marketing to them, creating a money-based caste system.
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In The News Today :: Jim Sinclair's Mineset

In The News Today :: Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it
My Dear Pensioner,

You must face the absolute and incontrovertible fact that you are going to be redundant from the majority of your pension, left out in the cold to starve and die, thereby reducing the need of funds by social security, medicare and your pension company. If you are not worried you simply are in total denial.

Do not even think about retirement. If you are retired think about a job. Those that will make it through this experience alive and sane are the already subsistent and those so poor now that they are used to it.

Jim
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You know what I think. I think one needs to be really careful with who they trust to hold their wealth. 
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In 1 Out Of Every 5 American Families, Nobody Has A Job

In 1 Out Of Every 5 American Families, Nobody Has A Job | Gold and What Moves it. | Scoop.it
If nobody is working in one out of every five U.S. families, then how in the world can the unemployment rate be close to 5 percent as the Obama administration keeps insisting? The truth, of course, is that the U.S. economy is in far worse condition than we are being told. Last week, I discussed the fact that the Federal Reserve has found that 47 percent of all Americans would not be able to come up with $400 for an unexpected visit to the emergency room without borrowing it or selling something. But Barack Obama and his minions never bring up that number. Nor do they ever bring up the fact that 20 percent of all families in America are completely unemployed. The following comes directly from the Bureau of Labor Statistics…
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The government continues to twist their numbers and create the make-believe narrative they desire you to swallow. Click through for the full article. 
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Gold is the Spectre Haunting our Monetary System

For a century, elites have worked to eliminate monetary gold, both physically and ideologically.

This began in 1914, with the UK’s entry into the First World War. The Bank of England wanted to suspend convertibility of bank notes into gold. Keynes counselled wisely that the bank should not do so. Gold was finite, but credit elastic.

By staying on gold, the UK could maintain its credit, and finance the war effort. This transpired. The House of Morgan organised massive credits for the UK, and none for Germany. This finance was crucial, and sustained the UK until the US abandoned neutrality and tipped the military balance against Germany.

Despite formal convertibility of sterling to gold, the Bank of England successfully discouraged actual conversion.

Gold sovereigns were withdrawn from circulation and turned into 400-ounce bars. This form of bullion limited gold ownership to the wealthy, and confined gold’s presence to vaults. A similar disappearance of gold as a circulating currency occurred in the US.
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oftwominds-Charles Hugh Smith: How Systems Break: First They Slow Down

oftwominds-Charles Hugh Smith: How Systems Break: First They Slow Down | Gold and What Moves it. | Scoop.it
Alternatively, we can cling to a state of denial, and the dominant system will be replaced by arrangements that are not necessarily positive.
The reality that cannot be spoken is that all the financial systems we believe are permanent are actually on borrowed time. One way we can judge this decline of resilience is to look at how long it takes systems to recover when they are stressed, and to what degree they bounce back to previous levels.

Another is to look at the extremes the system reaches without returning to "normal": for example, interest rates, which rather than normalizing after seven years of suppression are being pushed to negative rates by increasingly desperate central bankers.
The key insight here is that financial systems and indeed economies function as natural systems. Central planning/central banker manipulation appears to control the system, but this control masks the reality that the system is increasingly fragile and prone to collapse, not just from internal dynamics but as a direct result of central bank manipulation.
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Jim Grant On The United States Of Insolvency

Jim Grant On The United States Of Insolvency | Gold and What Moves it. | Scoop.it
This much I have learned about debt after 40 years of writing and study: It is better not to incur it. Once it is incurred, it is better to pay it off. America, we have a problem.

We owe more than we can easily repay. We spend too much and borrow too much. Worse, we promise too much. We conjure dollar bills by the trillions–pull them right out of thin air. I won’t insist that this can’t go on, because it has. I only say that it will eventually stop.

I don’t know the date, but I believe that I know the reason. It will stop when the world loses confidence in the dollars we owe. Come that moment of truth, the nation will resemble Chicago, a once prosperous polity now trying to persuade its once trusting creditors that it is actually solvent.

To understand our financial fix, put yourself in the position of the government. Say you earn the typical American family income, and you spend and borrow as the government does. So assuming, you would earn $54,000 a year, spend $64,000 a year and charge $10,000 to your already slightly overburdened credit card. I say slightly overburdened–your outstanding balance is about $223,000.

Of course, MasterCard wouldn’t allow you to run up that kind of tab. At an annual percentage rate of 15%, the cost to service a $223,000 balance would absorb 62% of your pretax income. But the government is different from you and me (and Chicago). It has a central bank.
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Greenspan Admits The Fed's Plan Was Always To Push Stocks Higher | Zero Hedge

Former Federal Reserve Chairman Alan Greenspan admitted in an interview with Sara Eisen that quantitative easing did what it was supposed to do, which was to inflate stock prices and drive multiple expansion.

He was confused as to why things such as corporate earnings, capital spending, and productivity have declined given how much QE was pumped into the system. The answer to the riddle of course, is that QE was never intended to help fix anything fundamentally, it was as Kyle Bass said recently, simply a mechanism to transfer wealth and make the rich richer.
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Jesse's Café Américain: Deutsche Bank Concedes a Settlement For Widespread Rigging of the Price of Silver

Jesse's Café Américain: Deutsche Bank Concedes a Settlement For Widespread Rigging of the Price of Silver | Gold and What Moves it. | Scoop.it
It appears that with the regulators either asleep or blithely ignoring blatant price manipulation in the precious metals, it remains for private parties to bring suit for the damages by these banksters in the 'free markets.'

As I recall, the CFTC conducted a three year study of the silver market, and finally came out with a simple comment that 'there is no evidence of manipulation.'

The Banks named in this private lawsuit in US Federal Court were Deutsche Bank, Bank of Nova Scotia,  HSBC, and UBS AG.
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World faces 'lost year' as policymakers sleepwalk towards fresh crisis, warns IMF

World faces 'lost year' as policymakers sleepwalk towards fresh crisis, warns IMF | Gold and What Moves it. | Scoop.it
Szu Ping Chan
13 APRIL 2016 • 2:00PM
The world is sleepwalking into a fresh crisis as investors start to lose faith in policymakers’ ability to revive the global economy, according to the International Monetary Fund.

In its bluntest warning to date on the costs of policy inaction, the IMF said “financial and economic stagnation" could take hold unless governments prevented a "pernicious feedback loop of fragile confidence, weaker growth, low inflation and rising debt burdens" from forming.

José Viñals, the head of the IMF's financial stability division, said a prolonged slowdown could knock around 4pc off global output relative to current expectations over the next five years amid repeated bouts of market turmoil.
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Gold & Silver Surge As The Global And Financial World Head Into Uncharted Waters - King World News

Gold & Silver Surge As The Global And Financial World Head Into Uncharted Waters - King World News | Gold and What Moves it. | Scoop.it
On the heels of a surge in gold and silver prices as well as the shares, today a 50-year market veteran told King World News that the global and financial world are entering uncharted waters.

John Embry:  “It appears that some rationality is finally entering the god and silver markets, following obvious recent suppression on the Comex…
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oftwominds-Charles Hugh Smith: Japan Desperately Needs a Stronger Dollar, China Desperately Wants a Weaker Dollar: The Fed Can't Please Both

oftwominds-Charles Hugh Smith: Japan Desperately Needs a Stronger Dollar, China Desperately Wants a Weaker Dollar: The Fed Can't Please Both | Gold and What Moves it. | Scoop.it
The FX market is about to blow up in the Fed's face, and there's nothing they can do about it.
Foreign exchange (FX) is a zero-sum game: if one currency weakens, another must strengthen. Since the value of a currency is relative to other currencies, all currencies can't weaken together: at least one currency must strengthen as others weaken.

That one strengthening currency has been the U.S. dollar (USD) since mid-2014. The USD has strengthened by 20%, while the Japanese yen and the euro weakened by 20%. Many developing-economy currencies (rand, peso, real, etc.) have fallen off a cliff, suffering 40% to 50% (or even more) declines against the U.S. dollar.
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#Gold Price Manipulation-- the Appel-View | @SharpsPixley.com

#Gold Price Manipulation-- the Appel-View | @SharpsPixley.com | Gold and What Moves it. | Scoop.it
Manipulation is a somewhat contentious word in financial markets, yet in truth virtually everything is manipulated by those who have the political need and/or the financial clout to do so.  The whole capitalist system is set up for this to take place – and arguably a socialist system even more so.  Governments manipulate statistics and financiers manipulate prices – all usually to their advantage, and sometimes the two work in concert with one another.  The manipulations don’t always work – occasional stock market crashes can show the flaws in financial manipulations and in a democracy the defeat of a ruling political party demonstrates that their deceptive data, supposedly indicating why one should continue voting for them, does not always work to their advantage either – usually through their successful opponents better putting across their own misleading data and policies which seldom in reality see the light of day once the hustings are behind them.  Virtually all political and financial spin and statistical manipulation is designed to influence public perception – and a gullible public invariably falls for it in going with whoever puts their dubious arguments forward in the most plausible manner, or perhaps promises to put the most money in their pockets.

Gold certainly is no stranger to the manipulation. 
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