Gold and What Moves it.
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Neither Management Nor Labor Killed The Twinkie: We All Did

Neither Management Nor Labor Killed The Twinkie: We All Did | Gold and What Moves it. | Scoop.it

Jim Karger writes:

 

"I came close to avoiding the Twinkie topic entirely, if only because so many have already taken it on in animated, breathless fashion. The right-wing has firmly laid the blame on the union, those greedy bastards. After all, had they convinced their members to give up more of their pay, 18,000 would still have a job and all would be making far more than the average American worker.

 

"The left has indicted, convicted, and is ready to execute all Hostess executives, those high paid greedy bastards. After all, they were making millions, even giving themselves pay increases while the little guys were shaking in their boots, dreading the very day that came last week.

 

"On its face, it seems there is a disagreement here, but fundamentally, both sides agree: greed is the problem. They just can't agree on who is greedier. ..."

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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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Bond market or black hole? - OfWealth

Bond market or black hole? - OfWealth | Gold and What Moves it. | Scoop.it

There are already over US$13 trillion of bonds trading at prices so high that they offer a negative return to investors. But now there’s talk that something even more mind bending could be just around the corner. The latest idea in the bond market would create a virtual black hole for money – ripping investment capital to shreds and leaving nothing in its wake. This week I’m in south east England, staying with my parents in the house where I grew up. They bought the place in summer 1963, when mortgages were rare and houses were still affordable. I joined them, and my three sisters, in 1972. ...

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The world is ‘Addicted to Debt’

By John Mauldin

While everyone was talking about Brexit last month, the Bank for International Settlements released its 86th annual report.

Based in Basel, Switzerland, the BIS functions as a master hub for all the world’s central banks. It settles transactions among central banks and other international organizations. It doesn’t serve private individuals, businesses, or national governments.

Because it is relatively free from political considerations, the BIS can speak about economic issues more directly than its member central banks can. And its candor has grown steadily in recent years.
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I've said it before, debt is slavery and it is now the currency of the world. That's why gold and silver have become so important around the globe.

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oftwominds-Charles Hugh Smith: We've Entered an Era of Rising Instability and Uncertainty

oftwominds-Charles Hugh Smith: We've Entered an Era of Rising Instability and Uncertainty | Gold and What Moves it. | Scoop.it
And there you have our future, visible in the 13th, 16th and 18th century price-revolution waves which preceded ours.
That we have entered an era of rising instability and uncertainty is self-evident.There will always be areas of instability in any era, but instability and uncertainty are now the norm globally.
There is a template for global instability, one that has been repeated throughout history. Historian David Hackett Fischer described the dynamics that generate periods of rising instability in his book The Great Wave: Price Revolutions and the Rhythm of History (sent to me a number of years ago by correspondent Cheryl A.)

In Fischer's well-documented view, there is a grand cycle of prices and wages which turn on the simple but profound law of supply and demand; all else is detail.
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oftwominds-Charles Hugh Smith: "Helicopter Money" Won't Fix What's Broken

oftwominds-Charles Hugh Smith: "Helicopter Money" Won't Fix What's Broken | Gold and What Moves it. | Scoop.it
Creating "free money" to support bloated bureaucracies and corrupt cartels only makes the underlying problems worse.
The mere mention of helicopter money has intoxicated global stock markets, which have soared on the rumor of Japanese helicopter money. But as I explained in Why Helicopter Money Won't Push Stocks Higher, central banks funding fiscal spending (i.e. helicopter money) will only have a weak and entirely indirect effect on profits or stock market valuations.

The problem with helicopter money is that it cannot fix what's broken in the economy--and even worse, it perpetuates every inefficient, corrupt, bloated and unsustainable system in the status quo. As I explain in my book Why Our Status Quo Failed and Is Beyond Reform, the problem isn't lack of fiscal spending or stimulus; the problem is the primary systems of the status quo have failed and cannot be fixed with central bank easy money.
In effect, helicopter money feeds the perverse incentives that have crippled our economy and society.
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This Confirms The Continuation Of Silver's Rally | Hubert Moolman | Safehaven.com

This Confirms The Continuation Of Silver's Rally | Hubert Moolman | Safehaven.com | Gold and What Moves it. | Scoop.it
On the silver chart, is a classical major reversal pattern referred to as a Head and Shoulders Bottom. Major reversal patterns form after a downtrend, and its formation normally confirms a change in trend. Below, is a silver chart (all charts from tradingview.com), with the pattern highlighted:

The existence of this pattern, and its recent breakout confirm that the December 2015 bottom in silver is actually the bottom for the correction since 2011. This is a precious gift, if you were still unsure whether to get into silver or not. This was also confirmed by the fact that the USD/ZAR made a significant top very close to the December 2015 silver bottom USD/ZAR (a USD/ZAR top is a good signal to confirm a silver bottom).
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Gold price rally helps producers climb world’s top 25 mining companies list | MINING.com

Gold price rally helps producers climb world’s top 25 mining companies list | MINING.com | Gold and What Moves it. | Scoop.it
Gold has consolidated its post-Brexit gains this month and continues to be the best-performing commodity so far this year, filling the pockets of most producers of the precious metal, a new study shows.

According to SNL Metals & Mining, gold-focused companies have climbed the most in the ranking of the world’s top 25 mining companies by market capitalization from April to June this year, helped by rising gold prices, declining mining costs and, most recently, global economic uncertainty as a result of the UK’s decision to leave the European Union in June.
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Silver Prices – What Next?

Silver Prices – What Next? | Gold and What Moves it. | Scoop.it
Point One: Debt grows exponentially, not because it should, but because our debt-based financial system practically requires it.

Point Two: Silver and gold prices increase along with the exponential growth in debt and currency in circulation.

Point Three: Similar exponential increases are evident in the DOW, S&P 500, prices for most commodities, and certainly for health care, college tuition, auto prices etc.

Point Four: Exponential increases cannot continue forever, but they can persist for a long time.
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Labor Department’s job numbers might as well come from a lottery

Labor Department’s job numbers might as well come from a lottery | Gold and What Moves it. | Scoop.it

by John Crudelle:


Here is how the monthly employment figures should actually be done.

“I’m Yolanda Vega. And June’s first number is 2. The next number is 8. The next number is 7…”

The Labor Department should get itself one of those Lotto cages with the white ping-pong balls inside. And then it should have Yolanda and her “draw team” colleagues pick the numbers randomly.

That would be much more logical and cost efficient than how Labor — with its billion-dollar budget — now does its monthly employment survey.

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Gold & Silver To Be Last Currencies Standing Peter Boockvar - Shanghai Metals Market

(Kitco News) - The pervasive bullish sentiment towards gold continues as prices maintain solid gains and has one Wall Streeter saying the secular bull market is back in full force.

“After rallying for 12 straight years and peaking in September 2011 at around $1,900 per troy ounce, gold fell into a very lengthy bear market that I believe ended in December 2015 at $1,050,” said Peter Boockvar, the chief market analyst for the Lindsey Group, in a CNBC post Thursday.

Given current central banking policies that are pushing other fiat currencies down, he continued, gold and silver will rally further as they will be the “last currencies standing.” 
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IT IS EASY TO CALCULATE THE FAIR MARKET VALUE OF GOLD | AVERY B. GOODMAN BLOG

There are many people who allege that, because gold does not pay interest or dividends, it cannot be accurately valued, like a stock or bond. That is not true. It is actually easier to calculate the fair market dollar value of gold than to value any other asset. We simply need to step back in time in order to find our answer, and then employ some math.

The Bretton Woods Agreement was signed in July 1944, when the world was on a quasi-gold standard. The United States of America had accumulated a vast majority of the government-owned yellow metal during World War II. Because no other nation had much gold, it was decided that America’s gold reserve would be indirectly used by all nations.
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Collapse of Empires is Upon Us-Gregory Mannarino | Greg Hunter’s USAWatchdog

Collapse of Empires is Upon Us-Gregory Mannarino | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
Trader and analyst Gregory Mannarino says what is going on today with the FBI refusing to indict Hillary Clinton is nothing new when considering the “fall of empires.” Mannarino explains, “This is a cycle, and we are seeing several pieces fall into place regarding the political system and the financial system that we have seen over and over again.  There is a lifespan of an empire . . . at the top of every empire . . . there is an issue of the financial system, and there is an issue with the political system that becomes absolutely corrupt.  This is why this announcement (FBI not indicting Clinton) came.  Again, this is political corruption.  It’s not just here in the United States, but globally it is flashing red across the sky. . . . I think they are well aware that the whole system is going down. The collapse of empires is upon us. . . . We are in an environment that globally we have never seen before.  With what we are seeing in the United States with the corruption in politics, we’ve seen that before.  Every great empire, right at the top, the two key elements that appear are financial system on the edge and political corruption trying to patch it all together.  That is something we see over and over again throughout history.”

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Legend Warns This Will Totally Devastate The World And The Window To Save Yourself Is Closing - King World News

Legend Warns This Will Totally Devastate The World And The Window To Save Yourself Is Closing - King World News | Gold and What Moves it. | Scoop.it
(King World News) Egon von Greyerz:  “It is no surprise that both commercial and central banks hate gold, because gold reveals the total mismanagement of the economy and the deceitful actions that the bankers take. Once the paper gold market collapses, which is not far away, we will see the full extent of these malpractices, which could easily be classified as fraudulent…
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Vindicating GATA, academic study says central banks rig markets with gold lending | Gold Anti-Trust Action Committee

Vindicating GATA, academic study says central banks rig markets with gold lending | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it
Dear Friend of GATA and Gold:

Dirk Baur, formerly a finance professor at the University of Technology in Sydney, now professor of accounting and finance at the University of Western Australia in Perth, this month updated his 2013 study about gold market manipulation --
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oftwominds-Charles Hugh Smith: Globalization's Few Winners and Many Losers

oftwominds-Charles Hugh Smith: Globalization's Few Winners and Many Losers | Gold and What Moves it. | Scoop.it
Quality, quality of life, and well-being are not easily quantified, so they are ignored.
I often write about the Tyranny of Price, the rarely examined assumption that lower prices are all that matters.

Thanks to the Tyranny of Price, the quality of many goods has plummeted.Obsolescence is either planned or the result of inferior components that fail, crippling the entire product. As correspondent Mark G. has observed, the poor quality we now accept as a global standard wasn't available at any price in the 1960s-- such poor quality goods were simply not manufactured and sold.
There is another even more pernicious consequence of the Tyranny of Price: globalization, which makes two promises to participants: 1) lower prices everywhere and 2) manufacturing work that will raise millions of poor people in developing economies out of poverty.
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Newmont CEO: Supply Fundamentals, Investment To Underpin Gold - Shanghai Metals Market

Newmont CEO: Supply Fundamentals, Investment To Underpin Gold - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
(Kitco News) - The chief executive of Newmont Mining Corp. (NYSE: NEM) looks for gold to remain underpinned by both supply and demand fundamentals for some time to come, which in turn provides a big revenue boost for companies in the mining sector.

“Every $100 change in the price of gold means an additional $350 million in free cash flow into the business,” said Gary Goldberg, president and chief executive officer. “If the roughly $300-an-ounce price increase we’ve seen for the year to date sustained itself for a full year, then we’ve delivered another $1.1 billion in free cash flow, which allows us to pay down debt and invest in our best projects and pay dividends to shareholders.”
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A balanced viewpoint on gold

In terms of gold, and silver, analysis from those ‘expert pundits’ who tend to monopolise the information highway with their self-promotional opinions, usually with an agenda to promote their own subscription websites and newsletters, or their latest books, it seems to be a case of ‘bulls are bulls and bears are bears and never the…
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LAWRIE WILLIAMS: #Gold – a more balanced viewpoint

LAWRIE WILLIAMS: #Gold – a more balanced viewpoint | Gold and What Moves it. | Scoop.it
In terms of gold, and silver, analysis from those ‘expert pundits’ who tend to monopolise the information highway with their self-promotional opinions, usually with an agenda to promote their own subscription websites and newsletters, or their latest books, it seems to be a case of ‘bulls are bulls and bears are bears and never the twain shall find common ground’. They have made their positions clear over and over and while both sides may ultimately prove to be correct in their views at some point over very long periods of time, they do not tend to be good guides for the investor in the short to medium term timeframes in which most of us make investment decisions.  They may call trends correctly from time to time, but their end-predictions tend to be way off.

There are exceptions of course.  Bank analysts tend to take a more balanced viewpoint, but they seem to follow a herd instinct and are totally reactive.  Gold follows an upwards path for a month or two and the analysts raise their forecasts, and vice versa.  They are not opinion leaders but followers.

I like to think of myself as having a reasonably balanced view on precious metals, although I do admit to being marginally bullish at the present time – perhaps being more swayed by bullish arguments than by bearish ones at the moment, but I would like to think I would be prepared to change my position should the fundamentals which I follow start to look like moving in a different direction.  But then my background is in mining engineering, which I believe to be a pragmatic discipline, rather than in economics where, sometimes strongly held opinions seem to have little connection with day to day life reality.

So, I tend to discount arguments that tell me that gold is going to $5,000 or $10,000 in the medium term – to be frank I’m not sure I’d want to be living in a world where this were to occur, the scenario is probably too horrific and only likely to be brought about by total economic collapse.
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There Is No Rule Of Law Either... :: Jim Sinclair's Mineset

by BIll Holter:

Dear CIGAs,

I finished my last writing with the question “will we still have the rule of law?” and commented what a can of worms this topic is. While I knew the question of the rule of law would certainly come up later this year, I had no idea how quickly! Normally forensic logic is a process of “connecting dots”, in this instance the “dots” are more like one giant blob of crap covering the page entirely. On many previous occasions we have seen election fraud, market riggings and bogus economic reports, the corruption is now no longer contained or done in secret… it is done in public. Maybe so the public can “see it”? Let’s take a look at “law”.

We have heard stories where the police are confiscating cash during traffic stops where the driver/passenger then has to prove “how or where” they got the money. In many cases, even after proof is delivered …the money is not returned. We also have recently seen where Oklahoma troopers/officers have technology to swipe debit cards and clear balances because “you might buy drugs or commit a crime” with that cash. Does this scare you? It should!

A week or so back, we heard of Bill Clinton meeting with Attorney General Loretta Lynch on an airport tarmac. Within a week, James Comey (who turns out to have many past trails crossing the Clinton’s path)

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oftwominds-Charles Hugh Smith: Why Helicopter Money Won't Push Stocks Higher

oftwominds-Charles Hugh Smith: Why Helicopter Money Won't Push Stocks Higher | Gold and What Moves it. | Scoop.it
In effect, helicopter money turns the entire economy into a Ghost City.
The possibility that Japan might launch helicopter money stimulus sent global stock markets soaring in a paroxysm of pleasurable anticipation. But exactly what is helicopter money and what connection does it have to stock valuations, if any?

Broadly speaking, helicopter money is government deficit spending that is directed to households rather than the financial sector. Deficit means the government doesn't have extra cash to pay for the stimulus program--it borrows it by selling government bonds.
With interest rates near-zero or even negative, it doesn't cost governments much to borrow huge sums from future taxpayers. All bonds are borrowed from future taxpayers, because somebody will have to pay back the principal, even if there are no interest payments due.
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Sugar Daddy FED Creates Generation of Prostitutes

Sugar Daddy FED Creates Generation of Prostitutes | Gold and What Moves it. | Scoop.it
Economics is based on human behavior.  “One of the central tenets of economics is that people want certain things and will change their behavior to get those things – in other words, people will respond to incentives.” 

Applying this to the FED’s policies, and ramifications, should then yield logical connections between the results of the FED’s policies, and their intentions in implementing them, then, right?

Stated differently, the FED intends the consequences of their actions, correct?

If the consequences are unintended, then, it means that the FED’s actions were lacking intellectual rigor, meaning they stupidly did not consider the outcome before acting.  Or, nefariously, instead, the FED’s claim that the consequences were not intended is but a lie, as the reality is that the FED intended that which occurred all along.
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oftwominds-Charles Hugh Smith: A Precarious State

oftwominds-Charles Hugh Smith: A Precarious State | Gold and What Moves it. | Scoop.it
The global political/economic state feels precarious for a good reason: it is precarious.

That the global economy is in a precarious state seems self-evident.Take your pick of the systemic risks: debt bubble and slowdown in China, banking/political crisis in Europe, negative interest rates and stagnation in Japan, ongoing meltdown in emerging markets and currencies, oil prices that threaten mayhem if they go up and if they go down, and a downturn in global trade that is usually associated with recession.
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Billionaire Paul Tudor Jones - Nothing Can Prepare You For What Is Coming - King World News

Billionaire Paul Tudor Jones - Nothing Can Prepare You For What Is Coming - King World News | Gold and What Moves it. | Scoop.it
Gold Is Back!
Gold is back! With the strongest quarterly performance in 30 years, the precious metal in Q1 2016 emerged from the bear market that had been in force since 2013. A decisive factor in this comeback is growing uncertainty over the recovery of the post-Lehman economy. After years of administering high doses of monetary painkillers, will the Fed succeed in discontinuing the practice? Or is the entire therapy about to be fundamentally challenged?

The following chart illustrates that there has been a divergence between money supply growth and the gold price trend since 2011. It shows the combined balance sheet totals of the Fed, ECB, SNB, PBoC and the Bank of Japan. When the supply of fiat currencies grows faster than the stock of bullion, the gold price should rise and vice versa.
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Head of the Snake —— The Poisonous Gap Between Paper Wealth and Real Wealth

Head of the Snake —— The Poisonous Gap Between Paper Wealth and Real Wealth | Gold and What Moves it. | Scoop.it
By John P. Hussman, Ph.D.

“Understand that securities are not net economic wealth. They are a claim of one party in the economy – by virtue of past saving – on the future output produced by others. Fundamentally, it’s the act of value-added production that ‘injects’ purchasing power into the economy (as well as the objects available to be purchased), because by that action the economy has goods and services that did not exist previously with the same value. True wealth is embodied in the capacity to produce (productive capital, stored resources, infrastructure, knowledge), and net income is created when that capacity is expressed in productive activity that adds value that didn’t exist before.

“New securities are created in the economy each time some amount of purchasing power is transferred to others, rather than consuming it. Once issued, all of these pieces of paper can vary in price later, so the saving that someone did in a prior period, embodied in the form of some paper security, may be worth more or less consumption in the current period than it was initially. That’s really the main effect QE has – to encourage yield-seeking speculation that drives up the prices of risky securities, but without having any material effect on the real economy or the underlying cash flows that those securities will deliver over time.
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oftwominds-Charles Hugh Smith: Governments Change, the Corporatocracy Endures

oftwominds-Charles Hugh Smith: Governments Change, the Corporatocracy Endures | Gold and What Moves it. | Scoop.it
Ultimately, the dominance of global capital (the Corporatocracy) is not financial-- it's political.
One little-remarked consequence of the central banks' policies of near-zero interest rates and quantitative easing is the unrivaled dominance of mobile global capital, i.e. the Corporatocracy. The source of corporate political power is the ability to borrow essentially unlimited sums for next to nothing: what I have long termed free money for financiers.

Armed with central-bank supplied unlimited credit, global capital can outbid local residents and businesses. Over time, profitable enterprises and assets end up in corporate hands.
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Gold's Final Warning of Impending Monetary Collapse | Hubert Moolman | Safehaven.com

Gold's Final Warning of Impending Monetary Collapse | Hubert Moolman | Safehaven.com | Gold and What Moves it. | Scoop.it
Gold is currently trading in excess of $1300 an ounce. This is well above the 1980 all-time high. However, this is an incomplete representation of what gold is trading at relative to US dollars. When you look at the gold price relative to US currency in existence (US Monetary Base), then it is close to the lowest value it has ever been.
This in itself is a major warning regarding the sustainability of the current monetary system. In other words, the monetary system is the most debased it has ever been. Furthermore, not only is the monetary system at an all-time high stress-point, but also, this comes at the worst possible time relative to other key conditions.
Together, these factors will ensure that the outcome of the current monetary distress, will be much worse than any previous ones. There were previous significant monetary stress-points in the early 1930s and 1971. Although, the outcomes from those events were very bad, it did not lead to a complete loss of confidence in the system itself.
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