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oftwominds-Charles Hugh Smith: Have Tax Revenues Topped Out?

oftwominds-Charles Hugh Smith: Have Tax Revenues Topped Out? | Gold and What Moves it. | Scoop.it

Charles Hugh Smith asks a good question with his piece today:

 

"Efforts to collect more taxes fail because people adjust their behavior accordingly.

 

"Amidst all the "fiscal cliff" talk of raising tax rates, few dare to ask: have tax revenues topped out?

 

"How could tax revenues decline as rates go up? Easy: people modify their behavior in response to whatever incentives and disincentives are present.

 

"Make mortgage interest deductible and people will rack up huge mortgages. Reduce the yield on savings to near-zero (thank you, Federal Reserve) and people will save less.

 

"Raise tax rates and people will lower their income or move to low-tax locales. As the saying has it, "Money goes where it is treated well."

Supporters of higher rates tout studies that ..."

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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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More Central Bank Monetary Heroin Will Spark Currency Race To The Bottom, Global Implosion

In a column on his Contra Corner blog, Stockman said spend-thrift central bank policies globally – from the U.S. to Europe and Asia – have set up a bout of industrial deflation that is bound to be ...
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He Who Has the Gold - American Hard Assets

He Who Has the Gold - American Hard Assets | Gold and What Moves it. | Scoop.it
He who has the gold is not one who wants dollars, not at this moment. But there are still a lot of people who trust in the dollar, numbered among the Godly.
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Dr. Paul Craig Roberts - The Whole Thing is a House of Cards Based in Corruption - YouTube

Thanks for watching/listening. Please Subscribe, Share, Comment Visit Dr. Paul Craig Roberts at http://www.paulcraigroberts.org What the polls in Switzerland...
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Russell - Total Collapse & The Monetary Story Of The Century

Russell - Total Collapse & The Monetary Story Of The Century | Gold and What Moves it. | Scoop.it
Russell:  “I’m looking at a report from the World Gold Council, September 2014. I was shocked to see that according to the official world gold holdings, the US holds the largest amount of gold of any nation in the world. Even more astounding, the US leads the world in the percentage of its currency reserves in gold. According to the World Gold Council, the US holds 72% of its forex reserves in gold.
 
How can this be? Widespread rumors have it that the US has sold or leased all its gold and cannot even ship the gold that Germany has called in. Either the World Gold Council is presenting wrong figures or a mighty scandal is upon us. If the US has this amount of gold, which would be bullish, why haven’t we been told about it? Or why doesn’t the US run an honest audit on our gold?
 
Here’s what I’ve been thinking: the Fed despises gold and wants to make its own fiat currency the only legal currency. Therefore, if you really hold this tremendous amount of gold (8,133 tonnes), how would the Fed explain it? The other question: why doesn’t any publication pick up the story of the US government owning 8,133 tonnes of gold? Why isn’t any American told that gold represents 72% of our currency reserves?
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Gold Miner Says Gold Manipulation is Real, Gold Plunge Inconceiveable

Gold Miner Says Gold Manipulation is Real, Gold Plunge Inconceiveable | Gold and What Moves it. | Scoop.it

The Founder and CEO of gold and silver miner McEwen Mining, Rob McEwen was very candid on a recent conference call with his investors.   McEwen discussed his compay's abysmal quarterly performance and went on to leave several points of perspective.  Chiefly, that if the gold and silver price were to continue a downward projection his company and industry would have no choice but to halt production and mining.  

 

Read more at: http://bit.ly/1uBobQV

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oftwominds-Charles Hugh Smith: Central Banks: When We Succeed, We Fail

oftwominds-Charles Hugh Smith: Central Banks: When We Succeed, We Fail | Gold and What Moves it. | Scoop.it
Goosing stocks ever higher will eventually push wealth inequality to the point that it unleashes social instability.

Central banks around the world share a few simple goals:

1. Defeat deflation by sparking inflation--in the cost of goods and services, not wages.

2. Weaken the currency to boost exports and counter beggar thy neighbor devaluations by other exporting nations and trading blocs.

3. Boost the value of stocks to keep pension plans afloat and project a politically powerful message of "growth" and "prosperity."


What no central bank dares say is what happens should they manage to boost inflation, devalue their currency and continue pushing assets higher: when we succeed, we fail.
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oftwominds-Charles Hugh Smith: The Astonishing Rise of Central Bank Fear

oftwominds-Charles Hugh Smith: The Astonishing Rise of Central Bank Fear | Gold and What Moves it. | Scoop.it
Anyone who looks at central bankers speak can sense the fear behind their absurd bravado, and the dishonesty of their public confidence.

The extraordinary disconnect between soaring stock markets and stagnating real economies has been gleefully embraced by all who benefit from the disconnect:


The financial media, brokerages, investment banks, politicos who have made stocks the barometer of "prosperity" and of course the top 5% who own roughly 3/4 of the financial assets of the nation.
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Central Banks Absolutely Desperate-Dollar Terminal-Gregory Mannarino | Greg Hunter’s USAWatchdog

Central Banks Absolutely Desperate-Dollar Terminal-Gregory Mannarino | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
On the U.S. dollar, Mannarino says, “The U.S. dollar is in a terminal phase.   I don’t care what dollar’s strength is recently with regard to other currencies out there.  We have countries, specifically China and specifically Russia, who are betting against the U.S. dollar.  How do I know they are doing this?  They are acquiring huge amounts of gold with these suppressed prices.  This is what everybody needs to do as well.  Bet against the debt and become your own central bank. . . . The U.S. dollar is a dying currency.  It is in the terminal phase.  Russia understands this.  China understands this.  The only people who don’t understand this is the zombified American populous.  It’s very, very sad.  This is why shows like this are so important.  I am afraid that people like us are going to become more and more censored.”
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The Gold Market Takes its Short-term Cues from Inflation and Swiss Referendum | @SharpsPixley.com

The Gold Market Takes its Short-term Cues from Inflation and Swiss Referendum | @SharpsPixley.com | Gold and What Moves it. | Scoop.it
SharpsPixley.com aims to bring you the latest gold news, live gold prices and gold charts and will soon be an online shop for buying gold bars and gold coins.
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​Russia-China trading settlements in yuan increases 800%

​Russia-China trading settlements in yuan increases 800% | Gold and What Moves it. | Scoop.it
Settlements in yuan between China and Russia have increased ninefold in annual terms between January and September 2014, says the Chinese Ministry of Economic Development.

"The settlement in national currencies between China and Russia in bilateral trade amounted to about 2 percent in 2013. There has been a significant growth in 2014. In particular, the use of the yuan in mutual settlements increased nine times in the first nine months of 2014." TASS quotes Lin Zhi, head of the Europe and Central Asia Department of the Chinese Ministry of Economic Development.
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Global gold demand will overwhelm manipulators - INDEPENDENT VIEWPOINT - Mineweb.com Mineweb

Global gold demand will overwhelm manipulators - INDEPENDENT VIEWPOINT - Mineweb.com Mineweb | Gold and What Moves it. | Scoop.it
Author: Nathan McDonald
Posted: Friday , 21 Nov 2014
SPROTT MONEY NEWS - 

Precious metals have taken a horrible beating over the past month. They were suppressed to levels not seen since 2010. The result of this price depression was a massive increase in demand from individual investors and nations alike. 

No longer are people fooled by the paper price of precious metals. Premiums have remained relatively high through this price correction and demand has been so intense, that the US Mint was forced to cease sales of their ever-popular Silver American Eagles.

Nation states, such as China and Russia are well known for their affinity to gold and have also continued their accumulation of precious metals. Russia, which officially became the fifth largest holder of gold recently, announced that it has once again increased their gold reserves by another 150 additional tonnes in 2014. An increase of 8.4% year over year.
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oftwominds-Charles Hugh Smith: Have Central Banks Entered an Undeclared War?

oftwominds-Charles Hugh Smith: Have Central Banks Entered an Undeclared War? | Gold and What Moves it. | Scoop.it

The monetary tectonic plates are shifting, and predicting the next global financial earthquake is relatively easy.

I recently suggested that the devaluation of the yen was Japan's Monetary Pearl Harbor: a direct attack on the currencies of its major trading partners: the euro (European Union), the won (South Korea), the Australian dollar (AUD) and the U.S. dollar (USD), which affects both the U.S. and China since China's currency, the renminbi, is pegged to the USD.

Though there have been no overt (that is to say, public) counter-attacks, this may not reflect monetary peace so much as an undeclared war. Correspondent Mark G. observed that the current geopolitical backdrop is considerably more unsettled than the relatively benign global chessboard in 2008:

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​‘BRICS system’ – healthy alternative to ‘defunct dollar system’

​‘BRICS system’ – healthy alternative to ‘defunct dollar system’ | Gold and What Moves it. | Scoop.it
The BRICS Bank marks a major step to de-dollarization, and a new monetary system. It should replace the Western-dominated “predatory casino scheme” that has contributed to world wars and “economic terrorism,” says former World Bank economist Peter Koenig.

“A ‘BRICS system’ would offer a healthy alternative to the highly indebted and defunct dollar system, where money is printed at will,” Koenig said in an interview with Asam Ismi of the Canadian Centre for Policy Alternatives.

A 'BRICS system' should be based on a new currency, which Koenig called 'Bricso.'
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Global gold supply in deficit this year, even more so next - GOLD ANALYSIS - Mineweb.com Mineweb

Global gold supply in deficit this year, even more so next - GOLD ANALYSIS - Mineweb.com Mineweb | Gold and What Moves it. | Scoop.it
Author: Lawrence Williams
Posted: Tuesday , 25 Nov 2014
LONDON (MINEWEB) - 

In a previous article we have already shown that Indian and Chinese gold demand between them currently account for annual gold consumption levels of perhaps as much as 3,100 tonnes, roughly equivalent to global new mined gold production as recorded by the World Gold Council (3,115 tonnes over the 12 months to end September).

The Chinese and Indian figures we have recorded are probably themselves understated – with Indian consumption swelled by smuggled gold imports to avoid the 10% import duty and take advantage of the gold premiums on the Indian markets. China’s figures are also understated in that they are mainland China figures and do not include Hong Kong net gold imports which probably should add another 40-50 tonnes to the figure given that Hong Kong is technically part of China, but in terms of economic statistics, including gold net imports, it is treated as an independent state.

But what we haven’t detailed is the real level of gold consumption elsewhere in the world, for which we will go back to World Gold Council (WGC) figures to detail. 
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Here Comes France: Right-Wing Leader Marine Le Pen Demands Central Bank Repatriate French Gold | Zero Hedge

Here Comes France: Right-Wing Leader Marine Le Pen Demands Central Bank Repatriate French Gold | Zero Hedge | Gold and What Moves it. | Scoop.it
First Germany, then the Netherlands, perhaps Switzerland this weekend, and now the French right-wing Front National, which shockingly came first in May's European parliament elections, and whose leader Marine Le Pen is currently polling in first place in a hypothetical presidential election (in both a first and run off round), ahead of president Hollande, has sent a letter to the governor of the French Central Bank, the Banque de France, demanding that France join the list of nations which have repatriated, or at least tried to, their gold.
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oftwominds-Charles Hugh Smith: Nothing Has Changed--and That's the Problem

oftwominds-Charles Hugh Smith: Nothing Has Changed--and That's the Problem | Gold and What Moves it. | Scoop.it
Playing monetary games has done nothing to eliminate moral hazard.

If we step back and look at the past six years since the global financial meltdown of 2008, we see that in terms of financial and political power, nothing has changed--and that's the problem. If nothing has changed structurally, then none of the problems that caused the meltdown have truly been addressed.

All that's changed is the vast expansion of monetary games has masked the dysfunctional reality that the same old vested interests that had a death-grip on wealth and power in 2008 have tightened their death-grip in the past six years.
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Worker says New York bureau manipulated Census data

Worker says New York bureau manipulated Census data | Gold and What Moves it. | Scoop.it

by John Crudele:

 

Workers in the New York Census Bureau region were also fooling around with economic data collected in surveys.

 

And in New York, this nonsense goes back at least to the last national census in 2010, according to a source.

 

That decennial census is used not only to determine representation in Congress, but also how many schools, cops, teachers and other services are needed in areas of the country.

 

In case you are keeping track — and if you aren’t, I am — this now means whistleblowers have stepped forward in five of the six Census regions to report data manipulation.

 

I’m still waiting for someone in Atlanta to confess, which I expect to happen since that region has ...

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Are You Better Off This Thanksgiving Than You Were Last Thanksgiving?

Are You Better Off This Thanksgiving Than You Were Last Thanksgiving? | Gold and What Moves it. | Scoop.it
Are you in better shape financially than you were last Thanksgiving?  If so, you should consider yourself to be very fortunate because most Americans are not.  As you chow down on turkey, stuffing and cranberry sauce this Thursday, please remember that there are millions of Americans that simply cannot afford to eat such a meal.  According to a shocking new report that was just released by the National Center on Family Homelessness, the number of homeless children in the U.S. has reached a new all-time high of 2.5 million.  And right now one out of every seven Americans rely on food banks to put food on the table.  Yes, life is very good at the moment for Americans at the top end of the income spectrum.  The stock market has been soaring and sales of homes worth at last a million dollars are up 16 percent so far this year.  But most Americans live in a very different world.  The percentage of Americans that are employed is about the same as it was during the depths of the last recession, the quality of our jobs continues to go down, the rate of homeownership in America has fallen for seven years in a row, and the cost of living is rising much faster than paychecks are.  As a result, the middle class is smaller this Thanksgiving than it was last Thanksgiving, and most Americans have seen their standards of living go down over the past year.
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The Golden Canary

The Golden Canary | Gold and What Moves it. | Scoop.it
Gold has always been viewed as a safe haven for investors when world markets are in turmoil. When the bear comes out of the cave, sell your stocks and guy gold, then sit tight until the bulls are back. That cute little system has worked for people since our nation left the gold standard back in the sixties, but it has turned gold into the proverbial canary in the coal mine. When the canary stops singing, due to unbreathable or flammable gasses building up, the miners better get out. That little system worked pretty well also… that is until the canary died in 2008 and somebody nailed him to his post and set up a recording of a canary singing in the background and told the miners to go back to work.

And they did.

So today, gold prices are allegedly manipulated. Not all the time, mind you, not so much that we notice something wrong with our canary, but just enough to contain price, just enough to keep the miners working, just enough to keep investors from panicking, selling their stocks, and jumping into gold for safety.

Currently precious metals prices are lower than the cost to mine them. Sure, miners can go to their hi-grade veins and keep running, but that is not a sustainable business model, only to be used for emergency situations. The central mass media companies, all owned by the same cabal of investors, are providing the canary songs
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The Entire World Is On The Road To A Terrifying Weimarization - Davies

The Entire World Is On The Road To A Terrifying Weimarization - Davies | Gold and What Moves it. | Scoop.it

November 24 (King World News) - The Entire World Is On The Road To A Terrifying Weimarization

Overview of “Bubbleology”

On the 12th November 2014 - some 10 years after it was launched - lander module Philae which accompanied the Rosetta spacecraft touched down on Comet 67P/Churyumov-Gerasimenko (67P) to begin extra-terrestrial scientific observations. The on-board telemetry communicated back to Earth some 28 light-minutes away revealed that the lander had bounced twice off the surface of 67P. The first bounce may have lasted two hours and over 1 kilometre and is considered the largest space bounce in history which we would put it on a par with the incredible bounces in the US and Japanese stock markets this past month!

Back here on Earth Japanese monetary policy has similarly taken a giant leap forward for mankind by conducting its own scientific experiment. On the 31st October 2014 Bank of Japan Governor Kuroda-san implemented an addition to his ‘Qualitative & Quantitative Easing’ (QQE) policy begun a year ago. The surprise event was less the timing and magnitude but the clear brazen coordination of monetary and fiscal policy using the conduit of the Japanese Government Pension Fund to implement it. The QQE drove stock markets into a frenzied rally.

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Behind the 'Golden' Curtain: Russia's Economic War with the West

Behind the 'Golden' Curtain: Russia's Economic War with the West | Gold and What Moves it. | Scoop.it

by Scott Carter:

 

While the precious metals community has been preoccupied with Asian gold demand, Russia has been quietly boosting its gold reserves to record levels. In September, Russia’s Central Bank purchased over 37 tons of gold, its largest gold grab in 15 years. In October, they bought another 35 tons as central bank governor Elvira Nabiullina reported a haul of 150 tons of gold thus far this year … compared to just 77.5 tons for all of 2013.

 

According to the World Gold Council, over half of all the gold bought by central banks in the third quarter of this year, was bought by Russia. The Soviets have tripled their gold reserves since 2005, and the massive bullion buy-up now makes them the fifth largest holder of gold in the world, surpassing both China and Switzerland. ... http://bit.ly/1FjKqkw

 

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It`s almost time to buy, not sell, gold - Mineweb.com

It`s almost time to buy, not sell, gold - Mineweb.com | Gold and What Moves it. | Scoop.it
Author: Avi Gilburt
Posted: Friday , 21 Nov 2014
MARKET WATCH - 

I do not often write about the metals on MarketWatch, but have seen too many bearish articles calling for the death to the metals, so I felt compelled to speak up. While many are now saying it is time to sell metals, I will have to disagree. The time to sell your metals was several years ago. Now is the time to start looking to buy them back.

Please allow me to start with some of my history in this market.

For those of you that remember the summer of 2011, gold was in the middle of a parabolic run, with some days seeing more than $50 gains in price. However, in my first gold article on Seeking Alpha on Aug. 22, 2011, I provided my topping target for gold, in the face of the parabolic gold run, when everyone was so certain we would be easily seeing over $2000:
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Russia still adding to gold reserves big time - Mineweb.com

Russia still adding to gold reserves big time - Mineweb.com | Gold and What Moves it. | Scoop.it
Author: Lawrence Williams
Posted: Friday , 21 Nov 2014
LONDON (MINEWEB) - 

The latest announcement from the Russian Central Bank shows that the nation is still accumulating gold at a high level. Total gold reserves according to figures compiled by Nick Laird of www.sharelynx.com have now reached 1,169 tonnes having been expanded by a further 600,000 ounces (18.7 tonnes) in October. This moves Russia further ahead of China as far as ‘official’ gold reserve figures are reported (China’s figure reported to the IMG is 1,054 tonnes which it has been for the past five years, although it is widely believed to be accumulating substantial additional gold reserves without declaring them).
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Record Silver Mining Output 'Negated' by 2014 Drop in Scrap - American Hard Assets

Record Silver Mining Output 'Negated' by 2014 Drop in Scrap - American Hard Assets | Gold and What Moves it. | Scoop.it
SILVER MINING PRODUCTION worldwide is set to reach an all-time high in 2014, according to new analysis from the market’s leading data consultancy.
This week’s Interim Silver Market Review from GFMS – a division of the Thomson Reuters newswire and data agency – says silver mining output will rise 3.5% this calendar year from 2013.
However, due to this year’s steep fall in prices, the silver market is also seeing a continued decline in ‘scrap’ flows from sales of existing above-ground holdings. So the total increase in supply to the market expected to increase by only 2.9% year-on-year.
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Was GLD Gold Moved To The Dutch Central Bank? | Investment Research Dynamics

Was GLD Gold Moved To The Dutch Central Bank? | Investment Research Dynamics | Gold and What Moves it. | Scoop.it
In a move that is much more significant and relevant than the Chinese interest rate cut news, it was revealed that Netherland's Central Bank repatriated 120
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