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The Golden Truth: The Unmistakable Sign Of Illegal Market Manipulation

The Golden Truth: The Unmistakable Sign Of Illegal Market Manipulation | Gold and What Moves it. | Scoop.it

Dave in Denver writes:

 

"I preface this remark by saying that it is just a theory, but could Wednesday's Comex paper raid possibly be a signal of desperation by the cartel? We have been hearing countless reports out of London - the nexus of the world's physical bar market - that delivery supplies of gold and silver are getting tight. Was Wednesday's raid an attempt by a desperate bullion bank to trigger open interest selling by longs in order to reduce the number of potential accounts that hold for delivery in the face of a tight physical bar market?

 

"Wednesday right after the Comex opened, a total of 35,000 gold contracts were sold almost at once, with one order reported to be nearly 8100 contracts. This is roughly 104 tonnes and 24 tonnes respectively. It caused a "cliff-dive" in the price of gold/silver that was not cross-correlated with any other commodity market or equity/fixed income index. Why would someone, using paper, sell so recklessly and abruptly like this, flooding the market with an inordinately heavy supply of paper "gold." Any veteran trader knows that if you are trying to unload a disproportionately large long position - that is, large relative to the price and volume context of a given market - you have to bleed your offers into the market and not give away your size in order to try and maximize your sell proceeds. If you are not operating in this manner, you are either irrational or illegally attempting to influence the price lower. In the absence of any other credible explanation or theory being offered - and an open admission that a "computer mistake" was not the catalyst, this was clearly an attempt to exert manipulative - illegal downward influence on the price of gold. There is no other ..." click through for the rest.

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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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oftwominds-Charles Hugh Smith: The Counter-Intuitive Rise of the U.S. Dollar

oftwominds-Charles Hugh Smith: The Counter-Intuitive Rise of the U.S. Dollar | Gold and What Moves it. | Scoop.it

As things get dicier globally, assets in periphery nations typically get dumped as mobile capital flees risk and migrates to lower risk core nations and currencies.

I received many thoughtful comments on Why the Dollar May Remain Strong For Longer Than We Think. Given the many weaknesses of the U.S.--ballooning social-welfare and crony-capitalist liabilities, free money for financiers monetary policies, etc.--a strengthening dollar (USD) strikes many as counter-intuitive. ...

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Think Like A Criminal And You'll Understand What's Happening.

Think Like A Criminal And You'll Understand What's Happening. | Gold and What Moves it. | Scoop.it
Hi Dave. I am a long time follower of your work.

Just reaching out for your opinion if you don’t mind the intrusion.  I made a decision back in 2005 to put most of everything except the homes we have into metals. Been riding this monkey up and down but I feel like the guy in the twilight zone episode where everyone speaks another language.   Any advice for an amateur to stay the course?

My response:

The most important aspect of this to understand – and I’m sure you do – is that this manipulation and take-down of the metals is being done almost entirely with Comex paper contracts. As long as they can keep printing paper contracts for which they’re never called on to deliver, they can fabricate fraudulent gold and silver supply. As you know, when supply exceeds demand, price goes down. I watch and trade the Comex everyday. And everyday, like clockwork, gold and silver start to sell-off in the last 30 minutes of Comex floor trading. There is no better example of how manipulated and corrupt the Comex is. It would be equivalent to a baseball player getting a hit every time he went to bat.
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Paper vs. Physical: How The Fed Terrorizes The Precious Metals Market

Paper vs. Physical:  How The Fed Terrorizes The Precious Metals Market | Gold and What Moves it. | Scoop.it

As far as the beat-down going, I’m ecstatic over it…the Chinese, Indians and Russians are taking every single piece of gold off of the market that they can get their hands on…I say take it to zero, take it to $5 – I want it to go down…

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Pension Funds Being Taken TO Fund Infrastructure

Pension Funds Being Taken TO Fund Infrastructure | Gold and What Moves it. | Scoop.it

I warned what Obama was up to with the pension funds in trying to create a Infrastructure Fund. Calpers, California pension fund, is selling off $4 billion of hedge funds to divert that money to be wasted in Obama’s dream project – infrastructure fund. This idea was floated and endorsed at CAIRNS. “We have agreed to come away from government-financed growth measures to more private investment,”said Australia’s Finance Minister Joe Hockey. These are being called Public Private Partnerships (PPP), and will be extremely critical in the future for here lies the final destruction of the pension funds precisely as Japan bankrupted the Japanese Postal Saving Fund using that private money for political purposes to try to stimulate the economy, which failed. With PPP, public funds will be sold to the public as being a highly professional long-term investment that will further shrink economic growth and liquidity. They cannot possibly work. ...

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The Fed Fesses Up: After Printing $3 Trillion It Sees No "Escape Velocity"......Ever!

The Fed Fesses Up: After Printing $3 Trillion It Sees No "Escape Velocity"......Ever! | Gold and What Moves it. | Scoop.it

Wall Street’s and the media’s attention was riveted single-mindedly on whether or not the Fed would include in its statement the two words, “considerable time,” the two vaguest, stretchable latex words available that describe absolutely nothing and leave the door wide open for wishful thinkers of every stripe. That’s what the Fed’s gyrations since the financial crisis have so successfully accomplished; they have reduced the market, a place of price discovery, to a crummy joke.

The Fed delivered those two words, but during the press conference, Fed Chair Janet Yellen doused them with so many qualifiers that they’ve become even more meaningless, if that were even possible.

Wishful thinkers still see Yellen as a pure dove, while others worry that she has turned into a closet hawk who is afraid of letting this tsunami of free liquidity ...

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China opens gold market to foreigners, seeks more pricing power : Jim Sinclair's Mineset

China opens gold market to foreigners, seeks more pricing power : Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

SHANGHAI, Sept. 18 (Xinhua) — Foreigners now have access to China’s gold market after the Shanghai Gold Exchange (SGE) launched its international board on Thursday.


The yuan-denominated board was opened in the China (Shanghai) Pilot Free Trade Zone (FTZ), a move to encourage foreign participation in China’s tightly controlled gold market.


The launch will mark the first time China has allowed foreign investors to participate in the country’s gold trade.


Despite being the world’s largest producer and consumer of the precious metal, China has little say over the pricing of gold in the global market. Authorities hope to gain greater influence over pricing by granting global investors access  ...

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Gold could be the beneficiary of today's asset bubbles: Jeff Nichols

Gold could be the beneficiary of today's asset bubbles: Jeff Nichols | Gold and What Moves it. | Scoop.it
Jeff Nichols warns that optimism about US economy may be misplaced as OECD has cut its growth projections for US and other economies.
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But "why" are gold and silver prices manipulated?

But "why" are gold and silver prices manipulated? | Gold and What Moves it. | Scoop.it

By Bill Holter

  I promised yesterday to answer the question "why?" is it that silver and gold are manipulated.  Some people say "who cares?".  Some don't believe it while others don't even have clue that it's happening.  "Gold bugs" for the most part are angry but I sense they are angry for the wrong reasons.  Many understand fiat money to be freely printable and without any real value but they are angry because "gold went down" or didn't "go to da' moon" yet.  They should be "rich" by now ...the flaw of course to this thought process is counting your wealth in dollars and wanting to, hoping for and planning to "sell" which leaves you back again with DOLLARS.  My point to this paragraph is to show you how well the "why" gold and silver manipulation have worked so well!  Even many hard asset advocates still deep down "want" more dollars which is why they want their holdings to "go up".


OK, so why has it been imperative to suppress gold and in particular silver prices?  Let me first say I will consider gold and silver to be the same for this exercise even though they are not ...

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India s Gold Bar imports surged 16% during August 14: GJEPC - Shanghai Metals Market

India s Gold Bar imports surged 16% during August 14: GJEPC - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
The Gems and Jewellery Export Promotion Council (GJEPC) has released the details of imports of raw materials for gems and jewellery for the month of August 2014. India's Gold Bar imports surged 16% during August '14: GJEPC
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Indian Gold Imports are likely to pick up even further ahead of festival season - Shanghai Metals Market

Indian Gold Imports are likely to pick up even further ahead of festival season - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
The world's second biggest bullion consuming nation India's gold imports advanced significantly by 176% year-over-year during August, said HSBC, citing government's trade data.
Indian Gold Imports are likely to pick up even further ahead of festival season
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Gold's move from West to East is said intended to rebalance FX reserves | Gold Anti-Trust Action Committee

Gold's move from West to East is said intended to rebalance FX reserves | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

China May Boost Gold Reserves amid Imbalances in Holdings

By Feiwen Rong and Glenys Smi
Bloomberg News
Monday, September 15, 2014

http://www.bloomberg.com/news/2014-09-15/biggest-banks-said-to-overhaul-...

 

China may join other emerging countries in boosting gold reserves as the precious metal makes up a smaller share of its foreign-exchange holdings compared with developed economies, said a London-based researcher.

 

The country hasn't announced any changes to state gold reserves since authorities in 2009 said holdings totaled 1,054.1 metric tons. While China holds the world's biggest foreign-exchange reserves, bullion accounts for 1.1 percent of the total, compared with about 70 percent for the U.S. and Germany, the biggest gold holders, World Gold Council data show. ...

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oftwominds-Charles Hugh Smith: Janus Yellen and the Great Transition from Risk-On to Risk-Off

oftwominds-Charles Hugh Smith: Janus Yellen and the Great Transition from Risk-On to Risk-Off | Gold and What Moves it. | Scoop.it

The end of risk-on cannot be prettily managed.

In ancient Roman religion and myth, Janus is the god of transitions--beginnings and endings of conflict, war and peace, journeys, trades and eras. Janus has two faces, as befits a god that looks both to the future and to the past.

In our era of omnipotent central banks worshipped by the Status Quo, we have a goddess of financial transitions--Janus Yellen, the two-faced chair/deity of the Federal Reserve--to usher in the Great Transition from risk-on to risk-off.
What is risk-on? ...
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Guest Post: "Rigged Gold Price Distorts Perception of Economic Reality", by Paul Craig Roberts and "Denver" Dave Kranzler

Guest Post: "Rigged Gold Price Distorts Perception of Economic Reality", by Paul Craig Roberts and "Denver" Dave Kranzler | Gold and What Moves it. | Scoop.it

by, Paul Craig Roberts and Dave Kranzler

The Federal Reserve and its bullion bank agents (JP Morgan, Scotia, and HSBC) have been using naked short-selling to drive down the price of gold since September 2011. The latest containment effort began in mid-July of this year, after gold had moved higher in price from the beginning of June and was threatening to take out key technical levels, which would have triggered a flood of buying from hedge funds.

The Fed and its agents rig the gold price in the New York Comex futures (paper gold) market. The bullion banks have the ability to print an unlimited supply of gold contracts which are sold in large volumes at times when Comex activity is light.

Generally, on the other side of the trade the buyers of contracts are large hedge funds and other speculators, who use the contracts to speculate on the direction of the gold price. The hedge funds and speculators have no interest in acquiring physical gold and settle their bets in cash, which makes it possible for the bullion banks to sell claims to gold that they cannot back with physical metal. Contracts sold without underlying gold to back them are called “uncovered contracts” or “naked shorts.” It is illegal to engage in naked shorting in the stock and bond markets, but it is permitted in the gold futures market.

The fact that the price of gold is determined in a futures market in which paper claims to gold are traded merely to speculate on price means that the Fed and its bank agents can suppress the price of gold even though demand for physical gold is rising. If there were strict requirements that gold shorts could not be naked and had to be backed by the seller’s possession of physical gold represented by the futures contract, the Federal Reserve and its agents would be unable to control the price of gold, and the gold price would be much higher than it is now.

Gold price manipulation is used when demand for delivery of gold bullion begins to put upward pressure on the price of gold and hedge funds speculate on the rising price of gold by ...

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Dear John: Don’t drink to higher interest

Dear John: Don’t drink to higher interest | Gold and What Moves it. | Scoop.it

by John Crudele:


And my view on the economy isn’t that pessimistic. The economy has grown — just not very quickly despite heroic (and dangerous) moves by the Fed. And the amount of debt this country has accumulated — $17 trillion and counting — has left us vulnerable to mischief from countries that don’t necessarily like us.

 

Job growth is modest (if you believe the numbers put out by the government, which I don’t) and inflation is relatively tame (again, if you believe the numbers).

 

So, with only modest growth and relatively tame inflation, the Fed is seriously considering increasing interest rates sometime late next year, perhaps.

 

That tells me one of two things: One, the Fed is concerned about the economy in ways it isn’t saying; or two, someone is pushing the Fed toward this view.

 

My view: I think the Fed is concerned that the US has made itself vulnerable to mischief from China. And I think Janet Yellen is concerned about “asset inflation” — meaning that the stock market and other assets are going crazy. ...

Hal's insight:

Click through for the rest. I clipped this because of the reference to China. Mr. Crudele gets it, I think.  And so do the economists in China.

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Jesse's Café Américain: Long Term Gold Chart with Retracements

Jesse's Café Américain: Long Term Gold Chart with Retracements | Gold and What Moves it. | Scoop.it
It shows the strong support at 1180, and the longer term trend line that works on a logarithmic chart. ...
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The Central Bank of the Russian Federation increased their physical gold reserves by another 300,000 troy ounces

The Central Bank of the Russian Federation increased their physical gold reserves by another 300,000 troy ounces | Gold and What Moves it. | Scoop.it

Ed Steer writes:


The Central Bank of the Russian Federation updated their website with August's data yesterday.  It showed that they increased their physical gold reserves by another 300,000 troy ounces during that period---and they now hold 35.8 million troy ounces in their reserves.  Here's Nick's most excellent chart showing that change. ...

Hal's insight:

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Solar panels to be made mandatory for new buildings in Hyderabad - The Economic Times

Solar panels to be made mandatory for new buildings in Hyderabad - The Economic Times | Gold and What Moves it. | Scoop.it
The Telangana government is planning to make installation of roof-top solar panels mandatory for new buildings in Hyderabad.
Hal's insight:

Growing trend in Asia for solar. Think, "Silver".

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Is It Real Or Memorex?

Is It Real Or Memorex? | Gold and What Moves it. | Scoop.it

The precious metals have been under the most intense and concentrated period of downward price manipulation by the Federal Reserve/U.S. Government that has occurred over the last 14 years, except for the summer/early fall 2008.  Something really bad is occurring behind the scenes with our  economic and financial system that is not yet obvious.  But I have a feeling we’ll soon find out.

 

Some of the clues include the obvious lies and information misdirection coming from Grandma Yellen, Wall Street and the White House.  Yesterday’s FOMC announcement/Yellen press conference was one of the most absurdly Orwellian events I have ever witnessed. ...

Hal's insight:

Dave in Denver's take on gold manipulation.

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Manipulation - Here we go Again

QUESTION: Mr Armstrong, How can you say the metals are not manipulated? It is you and your people who keep shorting gold to prevent a rally.

ANSWER: The people who say that is what I say are those manipulating you. They are biased and will go down with the ship because they are married to one market and cannot see the truth if you slap them in the face. There is NOTHING that can be manipulated on a systemic basis every day. If that were true, no empire would fail, communism would have succeeded, there would be no recession since the G20 manipulates the economy, QE1-3 would not exist for the Fed could manipulate long-term rates rather than try to “influence”, and then if you really paid attention, I have stated the “club” manipulates markets for a quick buck  ...

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China Gold Looks at Targets in Hunt for Mining Deal

China Gold Looks at Targets in Hunt for Mining Deal | Gold and What Moves it. | Scoop.it
China Gold International Resources Corp., a gold and copper producer with mines in Inner Mongolia and Tibet, will probably make an acquisition by the end of next year, according to one of its senior executives.
Hal's insight:

Looking at all avenues to getting the physical stuff. 

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The U.S. National Debt Has Grown By More Than A Trillion Dollars In The Last 12 Months - Louis Scatigna, Author of The Financial Physician

The U.S. National Debt Has Grown By More Than A Trillion Dollars In The Last 12 Months - Louis Scatigna, Author of The Financial Physician | Gold and What Moves it. | Scoop.it
We are doomed as a country. Everything coming out of government now is a lie.-Lou   The U.S. National Debt Has Grown By More Than A Trillion Dollars In The Last 12 Months By Michael Snyder, on September 14th, 2014 The idea that the Obama administration has the budget deficit under control is a complete …
Hal's insight:

Debt will be the driver of gold's price. Particularly when those debts must be paid.

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Does Sentiment Indicate A Bottom In Silver? - American Hard Assets

The premium in PSLV should be lower to indicate a bottom in silver. Unlike silver, the silver miners ETF is positive for the year.
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John Embry- Something Seriously Wrong With Financial System - YouTube

John Embry, Chief Investment Strategist at Sprott Asset Management, thinks gold price suppression is a key factor in global monetary policy. Embry contends, ...
Hal's insight:

This is a must watch. At one point he makes a comment that I've also believed for some time now, that China holds far more gold than is reported.

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What are the key events that can influence Gold this week? - Shanghai Metals Market

What are the key events that can influence Gold this week? - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
It will be a busy week for financial and gold markets and there are three events in particular that can shape the larger investment climate, said Brown Brothers Harriman. What are the key events that can influence Gold this week?
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Richard Russell - Total Systemic Failure & Worst U.S. Nightmare

Richard Russell - Total Systemic Failure & Worst U.S. Nightmare | Gold and What Moves it. | Scoop.it

Richard Russell writes on King World News:  “I've been thinking, the people at the Fed may be deceivers and even liars, but they are not stupid. They know that the current system depends on constant, never-ending growth. But they also know that “no tree grows to the sky.” So what are they really thinking? The people at the Fed realize that they have good jobs and that they have prestige. 

 

They also know that they will continue their Keynesian policies for as long as they are employed by the Fed. And then when the system breaks down, which it must some day, they will be retired and the next Fed employees will take over. So enjoy it while it lasts and let the next guy deal with the ugly consequences. The Fed members may be deceitful and given to lies -- but they are not stupid.


I guess the worst offender was Alan Greenspan, who while younger wrote ...

Hal's insight:

Click through for the rest. I always enjoy reading his perspective. A man who has seen a lot.

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