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Do gold manipulation deniers really know the secrets of central banking? | Gold Anti-Trust Action Committee

Do gold manipulation deniers really know the secrets of central banking? | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"Dear Friend of GATA and Gold:

 

"A couple of common assertions that are frequently made to dismiss complaints of manipulation of the gold market have come up again in recent days and may deserve rebuttal.

 

"First, interviewed in part about gold market manipulation last week by Max Keiser on Russia Today's "The Keiser Report," Charteris Treasury Portfolio Managers CEO Ian Williams remarked, "We've always worked on the theory that the market is bigger than any one particular player" ....

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Real Time Gold Prices | Exact Price of Gold | Lear Capital

Real Time Gold Prices | Exact Price of Gold | Lear Capital | Gold and What Moves it. | Scoop.it

Get free real time gold prices updates even when you're on the move. Keep abreast of the precious metal market price with Lear Capital.

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I’m convinced that the end of #QE is going to be the grand revealer. - Pento

I’m convinced that the end of #QE is going to be the grand revealer. - Pento | Gold and What Moves it. | Scoop.it

Michael Pento tells King World News:

 

Pento:  “Inflation is a persistent and pervasive fall in the purchasing power of paper money.  It is not too many people working and producing or being productive.  That is why I believe the Fed is going to be behind the inflation curve for years to come....


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Gold & Silver Set To Make History, Art Cashin & 3 Great Charts

Gold & Silver Set To Make History, Art Cashin & 3 Great Charts | Gold and What Moves it. | Scoop.it

Today KWN is putting out a special piece which features three charts showing the roadmap to a historic move in gold, silver, and the shares.  These are the types of charts that the big banks follow closely, as well as big money and savvy professionals.  David P. out of Europe sent us the remarkable charts that all KWN readers need to see.  There is also a bonus piece included from legendary Art Cashin ...

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Jesse's Café Américain: Green Slime: The Return of Franken-Money

Jesse's Café Américain: Green Slime: The Return of Franken-Money | Gold and What Moves it. | Scoop.it
The reason that there is a 'currency war' underway globally, and why there is increasing civil and political tension domestically, is not because of an envy for the Anglo-American one percent's way of life. The reason is that the monetary system and the Western economies have gone off the rails with financialization and speculation, and there is a commensurate revulsion from it from those who are in a position to seek alternatives wherever they may. Those who cannot will be victims. This system is fragile, and will not cohere. ...
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China secures Venezulan oil and gold deals, as President visits L.America

China secures Venezulan oil and gold deals, as President visits L.America | Gold and What Moves it. | Scoop.it
Chinese President Xi Jinping has signed a row of oil and mineral deals with Venezuela. The Chinese leader is on a four-country tour of Latin America aimed to increasing influence in the region.
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Western Delusions vs. Chinese Realities

Western Delusions vs. Chinese Realities | Gold and What Moves it. | Scoop.it
Casey Senior Precious Metals Analyst Jeff Clark debunks common misconceptions about Chinese demand for gold today.

 

Jeff Clark, Senior Precious Metals Analyst

 

I don’t want to say that mainstream analysts are stupid when it comes to China’s gold habits, but I did look up how to say that word in Chinese…

 

One report claims, for example, that gold demand in China is down because the yuan has fallen and made the metal more expensive in the country. Sounds reasonable, and it has a grain of truth to it. But as you’ll see below, it completely misses the bigger picture, because it overlooks a major development with how the country now imports precious metals.

 

I’ve seen so many misleading headlines over the last couple months that I thought it time to correct some of the misconceptions. I’ll let you decide if mainstream North American analysts are stupid or not.

 

The basis for the misunderstanding starts with the fact that the Chinese think differently about gold. They view gold in the context of its role throughout history and dismiss the Western economist who arrogantly declares it an outdated relic. They buy in preparation for a new monetary order—not as a trade they hope earns them a profit.

 

Combine gold’s historical role with current events, and we would all do well to view our holdings in a slightly more “Chinese” light, one that will give us a more accurate indication of whether we have enough, of what purpose it will actually serve in our portfolio, and maybe even when we should sell (or not). ...

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Gold Dumped (Pre-CPI) And Pumped (Post-CPI) | Zero Hedge

Gold Dumped (Pre-CPI) And Pumped (Post-CPI) | Zero Hedge | Gold and What Moves it. | Scoop.it
9 minutes before CPI data hit, gold futures were slammed lower on notable volume ($390 million). Then as CPI hit and "noise" was evidently not going away, gold prices surged over $12 to $1316 obn very heavy volume... Gold is moving inversely with the USD (which is flying around) as stock rally (?) and longer-term bonds rally/flatten.
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Looking at the gold price these days, it's sure hard to believe that there is so much economic and monetary strife going on out there

Looking at the gold price these days, it's sure hard to believe that there is so much economic and monetary strife going on out there | Gold and What Moves it. | Scoop.it

Ed Steer Writes:

 

Looking at the gold price these days, it's sure hard to believe that there is so much economic and monetary strife going on out there---and the geopolitical icing on the cake is the Ukraine/Russia situation---along with the Israel/Palestine military action currently underway.  And I believe it was just last week the China told the U.S. to keep its nose out the South China Sea as well.

 

I suspect that commodity prices in general, along with the four precious metals in particular, have become crucial elements in the Pentagon's "Full Spectrum Dominance" doctrine that F. William Engdahl wrote about back in October of 2009---and if you haven't read the book, you should!  JPMorgan et al. are just doing the dirty work in the Comex futures market on their behalf---and it's not just American bullion banks, either. ...

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Is the US dollar under attack? (Part II of II) - OfWealth

Is the US dollar under attack? (Part II of II) - OfWealth | Gold and What Moves it. | Scoop.it
Part I explained how and why the dollar is such an important reserve and trade currency, and how the USA relies on this privileged position to remain solvent. But momentum is building to challenge the dollar’s dominance in global trade and investment flows. Is this something that should worry us, and what can we do about it?
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Fewer discoveries, slower development weigh on gold industry

Fewer discoveries, slower development weigh on gold industry | Gold and What Moves it. | Scoop.it

Over the past 24 years, mining companies discovered 1.66 billion ounces of gold in 217 major gold discoveries, SNL Metals & Mining's 2014 edition of Strategies for Gold Reserves Replacement shows.

 

While that sounds like a significant amount of gold, it falls short of the 1.84 billion ounces produced over the same period. In addition, the amount of gold discovered and the number of major discoveries (defined as any deposit with a minimum of 2 million ounces of contained gold) have been trending downward over time, from 1.1 billion ounces in 124 deposits discovered during the 1990s to only 605 million ounces in 93 deposits discovered since 2000.

 

The amount of potential production from these major discoveries is particularly concerning when looking at the discoveries made in the past 15 years. Assuming a 75% rate for converting resources to economic reserves and a 90% recovery rate during ore processing, the 674 million ounces of gold discovered since 1999 could eventually replace just 50% of the gold produced during the same period.

However, considering that only ....

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Insider Trading and Financial Terrorism on Comex - PaulCraigRoberts.org

Insider Trading and Financial Terrorism on Comex - PaulCraigRoberts.org | Gold and What Moves it. | Scoop.it

Paul Craig Roberts and Dave Kranzler

 

July 16, 2014. The first two days this week gold was subjected to a series of computer HFT-driven “flash crashes” that were aimed at cooling off the big move higher gold has made since the beginning of June. During this move higher, the hedge funds, who typically “chase” the momentum of gold up or down, built up hefty long positions in gold futures over the last 6 weeks. In order to disrupt the upward momentum in the price of gold, the bullion banks short gold in the futures market by dumping large contracts that drive down the price and make money for the banks in the process.

 

As we explained in previous articles on this subject, the price of gold is not determined in markets where physical gold is bought and sold but in the paper futures market where contracts trade and speculators place bets on the price of gold. Most of the contracts traded on the Comex futures market are settled in cash. The value of the contracts used to short gold and drive down the price is well in excess of the actual amount of physical gold that is kept on the Comex and available for delivery. One might think that regulators would pay attention to a market in which the value of contracts outstanding exceeds by several multiples the amount of physical gold available for delivery. ...

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The problem is that credit and printed money no longer have any effect

Egon von Greyerz tells King World News:


The problem is that credit and printed money no longer have any effect.  Thus when the 2008 problems reemerge with a vengeance, there are absolutely no effective measures that governments can take.  So if governments can’t do anything, what can investors and savers do?  Well, I and many of the lone voices on KWN have for a long time advised people to get out of the banks and also get out of the weak currencies like the dollar, the euro, the yen, and most others.  


Physical gold and silver should be held outside of the banking system.  That will be the best form of wealth preservation and insurance.  Some gold should be held in small denominations like 100 gram bars and 1 ounce coins.  I don’t think it’s worthwhile holding smaller coins and bars than that.  This is because I don’t see gold being used for daily purchases of goods and services. ...

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India Imported 713 MT Of Silver In April, 1921 MT YTD | SharpsPixley.com

India Imported 713 MT Of Silver In April, 1921 MT YTD | SharpsPixley.com | Gold and What Moves it. | Scoop.it

Precious metals analysts have received a few gifts from the authorities this year. In January the Swiss Customs Administration (SCA) decided to disclose their gold trade data country specific (previously only the total import and export numbers of bullion were available), also in January British customs (HMRC) decided to add gold in their trade database (in previous years UK gold trade could only be tracked through Eurostat), and this week the Indian customs department (DGCIS) published their trade statistics of April with full disclosure of the exact tonnage of gold and silver that was imported and exported. In prior reports only the amount of gold and silver that was imported was ...

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Tiny Gold Nanomotors Spin 10x Faster Than a Race Car Engine

Tiny Gold Nanomotors Spin 10x Faster Than a Race Car Engine | Gold and What Moves it. | Scoop.it
Nanomotors are an amazing feat of engineering: tiny gold rods less than a micrometer long, powered by ultrasonic waves to spin at crazy-fast speeds. How fast? Scientists just figured out a way to measure, and it's astonishing: 150,000 RPM, ten times faster than the fastest race car engine.
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Tech is cool.

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oftwominds-Charles Hugh Smith: The Rot Within, Part II: Inflation Is Not "Growth"

oftwominds-Charles Hugh Smith: The Rot Within, Part II: Inflation Is Not "Growth" | Gold and What Moves it. | Scoop.it

Just as the Federal Reserve cannot directly force you to stick the needle of monetary heroin (debt) into your arm, it also can't force employers to pay employees more.

The official policy of the Central Bank (Federal Reserve)/government is: inflation is necessary for "growth," i.e. economic expansion. The unstated reason for this official support of inflation is that it's easier for borrowers to service their debts as their income inflates.

To take an extreme example: let's say a homeowner has a mortgage of $100,000, an annual wage of $40,000 and annual mortgage payments of $10,000. At 100% annual inflation in both prices and wages, the home mortgage remains fixed at $100,000, the payment remains fixed at $10,000 but his earnings double to $80,000.

Where the mortgage payment initially took 25% of his earnings, now it ...

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Hambro ‘Horrified’ by Tampering of London Gold Fix

Peter Hambro, chairman of gold producer Petropavlovsk Plc, said he was “horrified” by the manipulation of the London fix given its importance to the industry.
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China signs currency swap worth 150 billion yuan with Switzerland : Jim Sinclair's Mineset

China signs currency swap worth 150 billion yuan with Switzerland : Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

(Reuters) – China signed a bilateral currency swap agreement worth 150 billion yuan ($24.17 billion) with the Swiss central bank, which can invest up to 15 billion yuan in China’s bond market.


The three-year swap, signed on Monday, will "provide liquidity support for bilateral economic and trade exchanges and help maintain financial stability," the People’s Bank of China (PBOC) said in a statement on its website, www.pbc.gov.cn.


The swap deal will provide liquidity support for development of the offshore yuan market in Switzerland and will be extended if needed, the PBOC said. ...

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The march away from the Dollar continues.

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Gold could be the future of medication delivery - Shiny Shiny

Gold could be the future of medication delivery - Shiny Shiny | Gold and What Moves it. | Scoop.it
The days of swallowing medicine and hoping it does the job are numbered. In future, precious metals will deliver drugs to a specifically targeted type of cell or part of the body. At least, that’s according to scientists from the Massachusetts Institute of Technology and EPFL, who have discovered that gold nanoparticles are able to penetrate cell membranes, meaning they ...
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oftwominds-Charles Hugh Smith: The Rot Within, Part I: Our Ponzi Economy

oftwominds-Charles Hugh Smith: The Rot Within, Part I: Our Ponzi Economy | Gold and What Moves it. | Scoop.it

Depending on blowing the next bubble to temporarily prop up the economy is the height of foolhardy shortsightedness.

All the conventional policy fixes proposed by Demopublican politicos, technocrats and the vast army of academic/think-tank apparatchiks are the equivalent of slapping a coat of paint on a fragile facade riddled with dryrot. All these fake-fixes share a few key characteristics:

1. They focus on effects and symptoms rather than address the underlying causes, i.e. the dryrot at the heart of our government, society and economy.

2. They maintain and protect the Status Quo Powers That Be--no vested interests, protected fiefdoms or Financial Elites ever lose power as a result of these policy tweaks. ...

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Grandich Observations on Gold and Markets.

Grandich Observations on Gold and Markets. | Gold and What Moves it. | Scoop.it

Peter Grandich writes:


After last Monday’s “takedown” on the Crimex (Comex) opening, the numerous gold bears (and the financial journalists who “love” to cover their “dislike” for the “relic”), were out on Tuesday rehashing for the umpteen time why gold is going under $1,000. I believe “panning” gold now joins “death and taxes” as sure things Gold and silver have worked off their oversold position and while some more back and filling wouldn’t hurt, I believe the surprises shall be mostly to the upside for the balance of 2014. ...

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This Collapse Will Be Infinitely Worse Than The 2008 Crisis

By Michael Pento of Pento Portfolio Strategies

July 19 (King World News) - This Collapse Will Be Infinitely Worse Than The 2008 Crisis

 

According to Pimco’s new Chief Economist, Paul McCulley, the Fed’s war against inflation has been won!  But, before we get out our party hats and plan the tickertape parade, we have to ask ourselves – for the past 27 years have we really been at war with inflation?  Yes, during the late 1970’s and early 80’s a different Paul (Paul Volcker, Chairman of the Federal Reserve) waged a real battle against inflation....

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The Fed: The No. 1 Reason to Own Gold | Uncommon Wisdom Daily

The Fed: The No. 1 Reason to Own Gold | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it
With interest rates at historic lows and the Fed's balance sheet loaded to its gills -- and with gold below $1,300 right now -- owning gold is a good move here.
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Nigel Farage - Terrifying Banking Crisis Is About To Accelerate

Nigel Farage - Terrifying Banking Crisis Is About To Accelerate | Gold and What Moves it. | Scoop.it

Eric King:  “Nigel, what about the reemergence of the banking crisis?”


Farage:  “Well, everybody has been terribly complacent about this.  The general view has been that the banking problem is out of the way, the eurozone debt crisis is finished, the existential crisis is over, and it’s all going to be fine.  But we saw some really quite bad shudders down in Portugal last week.  There were (also) some very serious concerns about one or two of the Austrian banks.


And what no one has noticed is (what’s happening in) these Mediterranean countries.  We’ve seen the bailouts of course.  We’ve seen the Greeks bailed out more than once.  We’ve seen the Cypriots bailed out, Portugal, Spain.  All of this stuff has been going on and (yet) we’ve been told the problems are over.  And the reality is the banks are in as big a mess as they ever were.  Actually, the national debt ratios of these countries that have been bailed out over the last couple of years has slowly but surely been increasing in every single (member) state.  So we’ve seen a sudden sort of realization that this problem hasn’t gone away.” ...

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oftwominds-Charles Hugh Smith: The Coming Crash Is Simply the Normalization of a Mispriced Market

oftwominds-Charles Hugh Smith: The Coming Crash Is Simply the Normalization of a Mispriced Market | Gold and What Moves it. | Scoop.it

The correlation between the Fed's monetary heroin production and the stock market will break down as the market normalizes.

In the spirit of calling things what they are, longtime correspondent Harun I. explains that market crashes are simply distorted/mispriced economies attempting to normalize. Here's Harun's commentary:

Let’s examine the term "crash." A crash is nothing more than the economy trying to normalize, however, everyone seems to think the environment created by bubbles (unpayable debt) is normal. This is truly fascinating because accepting unpayable debt as a norm means that prices are irrelevant, and since prices are irrelevant, there is no risk. But just because we think a thought does not make it a fact. Interestingly, each attempt at normalization requires exponentially greater amounts of expropriation of purchasing power.  ...

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Jurisdiction - So You Think Your Gold is Safe Outside The Country? | Julian D. W. Phillips | Safehaven.com

Jurisdiction - So You Think Your Gold is Safe Outside The Country? | Julian D. W. Phillips | Safehaven.com | Gold and What Moves it. | Scoop.it

Without looking at the facts and issues involved one would think that the U.S. can reach into any land outside its borders [except Russia] and impose its tax will and political will on others. The cases against the Swiss banks, UBS, Credit Suisse and other banks together with the fine on BNP Parisbas and the banning of its use of the dollar for a year with potentially other foreign banks facing the same punishment, gives rise to this viewpoint.

 

But this is not the real case at all. Jurisdiction still dominates internationally. But as we have seen in each of these cases, U.S. Jurisdiction applies to U.S. citizens anywhere, U.S. corporations [even overseas branches of these it seems], subsidiaries of foreign companies based in the U.S. and assets of U.S. citizens held overseas ...

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BRICS establish $100bn bank and currency pool to cut out Western dominance

BRICS establish $100bn bank and currency pool to cut out Western dominance | Gold and What Moves it. | Scoop.it
The group of emerging economies signed the long-anticipated document to create the $100 bn BRICS Development Bank and a reserve currency pool worth over another $100 bn. Both will counter the influence of Western-based lending institutions and the dollar.
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