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US Debt - Visualized in physical $100 bills

US Debt Ceiling is @ $16.4 Trillion Original US Debt Visualized article: http://demonocracy.info/infographics/usa/us_debt/us_debt.html Fiscal Cliff Visualize...

 

hat tip to www.zerohedge.com

 

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Gold and What Moves it.
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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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Did You Hear About This? :: Jim Sinclair's Mineset

Dear CIGAs,

You really have to wonder how it is that so much is going on all around us yet almost nothing is being reported by the mainstream press.  I know it is hard to do, but imagine yourself 20 or 30 years ago, could what is currently happening ever be “slept through” as it is today?  Could markets have just snoozed it off as if nothing bad “could” happen?

  For example, the U.S. economy is in another recession.  The 1st quarter GDP was revised to show a decline of -.7%.  Do you know why the number was not worse?  Because the BLS used as a very “special” assumption, a NEGATIVE inflation rate, if they used just a 1% inflation rate, GDP would have reported negative 2% plus!  But wait, the funny part is this, the Fed at the same time is again bringing up tightening interest rates.  Again, imagining yourself 20-30 years ago, the speculation would be “when will the Fed begin to loosen” …and here is one of your problems, the Fed CANNOT do ANYTHING to turn up the economy.  The Fed has fired all its bullets and cannot loosen further.  Yes they can start up another QE (the opposite of what they are taking about now) but I believe even they fear the reaction this time around.  What would they do if the selling pressure increased on the announcement of another QE?  Can’t happen you say?  I hope you’re right!
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Gold for the long haul – Now is the time! – Nichols

Lawrie Williams

Gold should be part of every investor’s portfolio to protect against the host of geopolitical disaster scenarios that are looming on the horizon.

“Over the long haul, gold is the least risky and potentially most rewarding of all investment asset classes.”  So says New York-based specialist gold analyst, Jeff Nichols, in his latest Nicholsongold newsletter.  Admittedly Nichols falls into the gold bull camp, but is at the realistic end of gold analysis, seeing both potential upsides and downsides ahead.  His latest article is headed Gold: Now is the time, and in it he lays out the various factors which he sees as having the potential to drive the gold price in the medium to long term – and as noted in the first sentence of this article he sees a reasonable investment in physical gold (not gold derivatives) – perhaps 5% – 10% of an investment portfolio – as key to protecting ones assets over time.
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From Whence Cometh Our Wealth-----The People's Labor Or The Fed's Printing Press?

From Whence Cometh Our Wealth-----The People's Labor Or The Fed's Printing Press? | Gold and What Moves it. | Scoop.it

by David Stockman:

 

It is hard to believe that in these allegedly enlightened times this question even needs to be asked. Are there really educated adults who believe that by dropping helicopter money conjured from thin air, the central bank can actually make society wealthier?

Well, yes there are. They spread this lunacy from the most respectable MSM platforms. And, no, I’m not talking about professor Krugman and his New York Times column. At least, he pontificates from a Keynesian framework that has a respectable, if erroneous, intellectual heritage.

What I am talking about here is the mindless bunkum issued by so-called financial journalists who swish around Wall Street and Washington exchanging knowing tidbits with policy-makers, deal-makers and each other. Call it the bubble finance “narrative”, and recognize that its gets more uncoupled from economic facts, logic and plausibility with each passing day in the casino.

The estimable ...

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Charles Hugh Smith: Liberation Is Unprofitable

Charles Hugh Smith: Liberation Is Unprofitable | Gold and What Moves it. | Scoop.it
12 examples of how liberation is not profitable and therefore it must be marginalized, outlawed, proscribed or ridiculed.

If we had to summarize the sickness of our economy and society, we could start by noting that liberation is unprofitable, and whatever is not profitable to vested interests is marginalized, outlawed, proscribed or ridiculed. Examples of this abound.


Liberation from digital communication servitude is not profitable. Don't have a smart phone on 18 hours a day, every day? Loser! Luddite! Liberation from digital communication servitude is not profitable, therefore it is ridiculed.

Liberation from debt is not profitable. Only the wealthy can afford to buy a vehicle without debt, a home without debt or a university education without debt. For everyone else, liberation from debt is not an option, because debt is highly profitable to our financial Overlords and the politicos they buy/own.
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Click through for the rest. But this is one more reason on why nations are attempting to go to a cashless system. Globally, I wonder if the goal isn't to return to a feudal economic structure in the hands of a few.

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Jesse's Café Américain: Chindia: The Steady Increase in Gold Demand From China and India

Jesse's Café Américain: Chindia: The Steady Increase in Gold Demand From China and India | Gold and What Moves it. | Scoop.it

It is an interesting phenomenon that is often overlooked and underappreciated outside of the certain small circles of those who watch these sorts of things.

Gold is flowing from West to East.   What it means and ...

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Russia offers to discuss BRICS prototype of SWIFT global system

Russia offers to discuss BRICS prototype of SWIFT global system | Gold and What Moves it. | Scoop.it
The Central Bank of Russia (CBR) has proposed a discussion about establishing an analogue to the SWIFT global network for transmission of financial information that processes $6 trillion worth of communiqués daily.
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It's just a matter of time before the dollar is a memory.

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CIA insider: Here's how the dollar will die...

CIA insider: Here's how the dollar will die... | Gold and What Moves it. | Scoop.it

From Jim Rickards, Editor, Jim Rickards’ Strategic Intelligence:

The same force that made the dollar the world’s reserve currency is working to dethrone it.

July 22, 1944, marked the official conclusion of the Bretton Woods Conference in New Hampshire. There, 730 delegates from 44 nations met at the Mount Washington Hotel in the final days of the Second World War to devise a new international monetary system.

The delegates there were acutely aware that the failures of the international monetary system after the First World War had contributed to the outbreak of the Second World War. They were determined to create a more stable system that would avoid beggar-thy-neighbor currency wars, trade wars and other dysfunctions that could lead to shooting wars.

It was at Bretton Woods that the dollar was officially designated the world’s leading reserve currency — a position that it still holds today. Under the Bretton Woods system, all major currencies were pegged to the dollar at a fixed exchange rate. The dollar itself was pegged to gold at the rate of $35.00 per ounce. Indirectly, the other currencies had a fixed gold value because of their peg to the dollar. ...

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Junk Debt Party Now, Apocalypse Later

Junk Debt Party Now, Apocalypse Later | Gold and What Moves it. | Scoop.it

by Wolf Richter:

 

Barron’s assuaged our fears about junk bonds. “High yield is likely to be relatively safe and offer decent yields for the next year or two.” A year or two? And then what? Ah… “But risks loom as the credit cycle stretches out and the long-expected rise in rates materializes.”

Everyone gets out in time. That’s the idea. Everyone, all at once. With no buyers at the other end because everyone is getting out, rather than in. But Barron’s was right, even if the timing doesn’t work out: whatever mayhem awaits us in the future, at the moment we’re having fun. ...

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“The World Is Drowning In Debt” – Goldman Sachs | Investment Research Dynamics

“The World Is Drowning In Debt” – Goldman Sachs | Investment Research Dynamics | Gold and What Moves it. | Scoop.it
The media propagandists, Wall Street snake-oil pimps and U.S. policymakers collectively like to point the finger at the rest of the world when addressing the issue of debt.  But when you total up all Government + private sector debt, the U.S. is the most debt-laden country in the history of the universe.
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China’s empire building bodes well for gold

Julian Phillips sees China’s move towards gold as playing an even more active role in its monetary system as hugely significant for the yellow metal’s future

As a forerunner to the expected IMF announcement on the inclusion of the Chinese Yuan into the basket that makes up the IMF’ Special Drawing Right, the IMF has announced that the Chinese Yuan is no longer ‘undervalued’. The next statement should include that it is a “well used currency”. Thereafter we expect a fuller announcement on its inclusion in the SDR.
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China Has Only One Option :: Jim Sinclair's Mineset

The title is of course a little misleading because China has many options, none of which except one in my opinion will actually work.  Options to what exactly you ask?  Options to a collapsing global economy and an imploding financial system which will surely affect China as much as anywhere else, but with one caveat.  I take these events as a given, others do not but betting against an outright panic and global bankruptcy is betting against pure mathematics itself.

Let’s back up a little bit and look at where China is currently.  They are the second largest economy in the world (maybe the largest, we can’t really know because the numbers here, there, and everywhere are made up).  China is by far THE largest manufacturer in the world and also an enormous exporter.  China is also in a three horse race as to who owns the most U.S. Treasuries with Japan and unbelievably the Federal Reserve itself.  They have an oversized shadow banking system which has already been shown as fraudulent in several cases regarding copper, zinc and lead as "collateral" (or not).
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China on a gold standard? Food for thought at least

By Lawrie Williams

 

Earlier this week I penned an article based on a talk by Ken Hoffmann, Bloomberg’s Global Head of Metals & Mining Research at the Global Mining Finance Precious and Base Metals Conference in London.  This was published on Mineweb and has already attracted extremely strong readership from around the world – See: Will China go for a gold standard? The jury is out!

In it, Hofmann set out what some might consider an off-the-wall appraisal of possible Chinese moves to back its currency with gold to try and help cement the yuan’s position as a potential future reserve currency.  This, it feels, could go a long way towards other countries’ central banks accepting the yuan as an integral part of their foreign currency holdings, perhaps even pari  passu with the U.S. dollar.

Hofmann puts forward the viewpoint that the Chinese are exasperated by the West trying to treat the nation as a second class citizen on global trade and economic organisations, despite it being the world’s second largest economy – or some would even put it at No.1. ...

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Survey: Global demand for silver rose in 2014

Survey: Global demand for silver rose in 2014 | Gold and What Moves it. | Scoop.it

Key components of global silver demand rose in 2014, with global silver jewelry demand posting a new record last year and silverware offtake rising to its highest level since 2006. This was coupled with notable growth in key silver industrial end uses, including ethylene oxide, photovoltaics, and brazing and alloys, according to World Silver Survey 2015, released by the Silver Institute. Gains in supply from mine production and producer hedging were partially offset by a continued decline in scrap supply.

Silver fabrication demand

Total silver physical demand stood at 1.07 billion ounces last year, the fourth highest level ...

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Bill Fleckenstein - The Fantasy Is Unraveling As Disastrous Policies To Impact The Net Worth Of Everyone On The Planet, Plus A Bonus Q&A - King World News

Bill Fleckenstein - The Fantasy Is Unraveling As Disastrous Policies To Impact The Net Worth Of Everyone On The Planet, Plus A Bonus Q&A - King World News | Gold and What Moves it. | Scoop.it
By Bill Fleckenstein President Of Fleckenstein Capital

June 3 (King World News) – The bonfire of the bond markets continued overnight in Europe, with virtually all of them lower, apart from a rally in Greece. Germany's yields are now approaching the high end of their recent trading range, as they jumped 17 basis points to around 71 bps.

As has been the case, however, equity markets weren't impacted too seriously, though they were a bit lower. Once again, the same form held here in America, with our bonds roughed up, but the stock market pretty much ignoring that, as equities traded in a small range around unchanged all day and closed flattish.

Away from stocks, the metals and oil were slightly higher. Meanwhile, green paper today saw a very large break to the downside and one could be encouraged that the dollar is experiencing a failing rally. I say "encouraged" because dollar strength has been the final leg propping up the "all is well" Fed fantasy, and the sooner that fantasy is behind us, the better.

The Fantasy Is Now Unraveling
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EU Regulators Order 11 Countries To Adopt Bail-In Rules | Investment Research Dynamics

EU Regulators Order 11 Countries To Adopt Bail-In Rules | Investment Research Dynamics | Gold and What Moves it. | Scoop.it
If there is a risk in a bank, our first question should be:  “Ok, what are you the bank going to do about that? What can you do to recapitalise yourself?”  If the bank can’t do it, then we’ll talk to the shareholders and the bondholders. We’ll ask them to contribute in recapitalising the bank.  And if necessary the uninsured deposit holders:  “What can you do in order to save your own banks?” – Jeroen Dijsselbloem, President of the Board of Directors of the European Stability Mechanism,  March 26, 2013

The bail-ins are coming.  Reuters reported today that European Commission today gave France, Italy and nine other EU countries two months to adopt bank bail-in regulations or face legal action – LINK
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Richard Russell - The Truth Behind The Government Propaganda, Lies And Manipulations - King World News

Richard Russell - The Truth Behind The Government Propaganda, Lies And Manipulations - King World News | Gold and What Moves it. | Scoop.it
Richard Russell:  "This year marks the 57th year that I’ve been writing about the markets. During all these years a lot has changed, and I have changed too. Rather than write about every little jiggle in the markets, I now prefer to stick to the big picture.

The Big Picture

The big picture, minus manipulations, propaganda and lies, is that the US is on the long road to deleveraging and deflation, which, of course, is a correction of the years since World War II, when the trend was towards inflation and leveraging. With the advent of the internet and email, this business has become increasingly difficult and not only have many newsletters dropped out of the field, but many hedge funds and money managers have thrown in the towel.
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Those Crazy Gold Bugs :: Jim Sinclair's Mineset

Dear CIGAs,

Rather than write about the economy, the markets or geopolitics, today let’s look at something a little different.  It’s important every once in a while to step back and take in the big picture because we are all guilty of getting too close or “finite” if you will.  We fight the daily battles while losing sight of what the war is really about.  Gold advocates otherwise known as “gold bugs” have been worn down by the daily battles, some have even forgotten what the real war is.  Gold bugs, these are the “crazies” out there who are described as nuts or “conspiracy theorists”.  We know now they were not “theorists” at all. JP Morgan’s $32 billion paid in fines along with many other fined and censured firms is proof of conspiracy FACT!

The term itself “gold bugs” is disparaging as if gold advocates are like some sort of cockroaches running around and dirtying up the place.  It is true that some “advocates” go off half-cocked and see everything as a conspiracy, I have even come across some who are so fervent they believe in gold as some sort of “religion”.  It is not.  “Gold” as JP Morgan once said “is money, nothing else”.  Gold is in fact money, it is real money that has value on its own and not “legislated” or as it is in today’s world, “mandated upon” the public.  Most Americans who are reading this may have a difficult time understanding it even though true, many foreigners are nodding their heads with a slight smile!  It should be pointed out, everything these crazy gold bugs have been saying about the world from a “fiscal” standpoint has and is in fact coming to fruition.  It has not happened “when” nor as soon as they believed it would (me included), because the current insanity of balance sheets could never have been imagined even 10 years ago …however, “timing” does not change “the ending”! ...

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​G7 agree ‘in principle’ to add Chinese currency to IMF basket – German Finance Minister

​G7 agree ‘in principle’ to add Chinese currency to IMF basket – German Finance Minister | Gold and What Moves it. | Scoop.it
The finance ministers of G7 have supported the inclusion of the yuan in the IMF currency basket. The decision means the yuan has gained international recognition after Beijing was accused of artificially curbing the exchange rate for more than ten years.
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Well, well, well. We know which side the bread is buttered on.

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Robert Shiller: Unlike 1929 This Time Everything - Stocks, Bonds And Housing - Is Overvalued | Zero Hedge

Robert Shiller: Unlike 1929 This Time Everything - Stocks, Bonds And Housing - Is Overvalued | Zero Hedge | Gold and What Moves it. | Scoop.it
Robert Shiller: I think that compared with history, US stocks are overvalued. One way to assess this is by looking at the CAPE (cyclically adjusted P/E) ratio that I created with John Campbell, now at Harvard, 25 years ago. The ratio is defined as the real stock price (using the S&P Composite Stock Price Index deflated by the CPI) divided by the ten-year average of real earnings per share. We have found this ratio to be a good predictor of subsequent stock market returns, especially over the long run. The CAPE ratio has recently been around 27, which is quite high by US historical standards. The only other times it has been that high or higher were in 1929, 2000, and 2007—all moments before market crashes.

But the CAPE ratio is not the only metric I watch. In my book Irrational Exuberance (3rd Ed., Princeton 2015) I discuss several metrics that help judge what's going on in the market. These include my stock market confidence indices. One of the indicators in that series is based on a single question that I have asked individual and institutional investors over the years along the lines of, "Do you think the stock market is overvalued, undervalued, or about right?" Lately, what I call "valuation confidence" captured by this question has been on a downward trend, and for individual investors recently reached its lowest point since the stock market peak in 2000. The fact that people don't believe in the valuation of the market is a source of concern and might be a symptom of a bubble, though I don't know that we have enough data to prove it is a bubble. In general, I try to get a sense of investors' excitement and anxieties through these kinds of measures and even by just reading the news. You might say that's very unscientific, but I do what I can to understand the state of mind of investors, which I think is very important in understanding market moves.
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oftwominds-Charles Hugh Smith: U.S. Households Under Pressure: Stagnant Incomes, Rising Basic Expenses

oftwominds-Charles Hugh Smith: U.S. Households Under Pressure: Stagnant Incomes, Rising Basic Expenses | Gold and What Moves it. | Scoop.it
How do you support a consumer economy with stagnant incomes for the bottom 90%, rising basic expenses and crashing employment for males ages 25-54? Answer: you don't.

Frequent contributor B.C. passed along a sobering set of charts that provide context for How The Average U.S. Consumer Spends Their Paycheck. The basic story is well-known to the bottom 90%: most of the household income goes to taxes, housing, food and transportation, with healthcare and insurance, pensions and retirement contributions rounding out the big-ticket items. (Higher education is, as we all know, paid with student loans by all but the top-tier of families.)

Here's the question this raises: is the sliver that's left enough to support a $17 trillion consumer economy? The answer is obvious: no.
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This Is What Happens When A Millennial Tries To Get A Job | Zero Hedge

This Is What Happens When A Millennial Tries To Get A Job | Zero Hedge | Gold and What Moves it. | Scoop.it
“College graduates will spend the upcoming month looking toward their futures – but as they celebrate, their ability to get a job remains top of mind. Young people have seen their economic situation improve in 2015. While we’re glad for that, April’s jobs report still shows a 13.8 percent youth unemployment rate, a discouragingly high number for those who are hoping to embark on their careers in the next few weeks,” the group’s Director of Policy Engagement at Generation Opportunity Luke Kenworthy says.

“If you look at the numbers starting in 2009, we’ve been in the longest sustained period of unemployment since the Bureau of Labor Statistics began collecting their data following World War II. This misconception that we don’t want jobs or that we’re lazy and entitled is nonsense,” a spokesman added, in a statement to Newsweek.
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DGCX's MoU with Bank of China seeks to increase interaction b/w UAE, China

DGCX's MoU with Bank of China seeks to increase interaction b/w UAE, China | Gold and What Moves it. | Scoop.it
The Dubai Gold & Commodities Exchange (DGCX) has announced the signing of a Memorandum of Understanding with the Bank of China (BOC). The agreement creates a framework for both institutions to work together to enhance interaction and collaboration between the derivatives and financial markets of the UAE and China.


DUBAI (Bullion Street): The Dubai Gold & Commodities Exchange (DGCX) has announced the signing of a Memorandum of Understanding with the Bank of China (BOC). The agreement creates a framework for both institutions to work together to enhance interaction and collaboration between the derivatives and financial markets of the UAE and China.
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Paul Craig Roberts: Free Financial Markets Are A Hoax | Investment Research Dynamics

There are no free financial markets in America, or for that matter anywhere in the Western word, and few, if any, free markets of any other kind. The financial markets are rigged by the big banks, the Federal Reserve, and the Treasury in the interests of the profits of the few big banks and the dollar’s exchange value, which is the basis of US power.

There is a contradiction between a strong currency on one hand and on the other hand massive money creation in order to sustain zero and negative interest rates on the massive debt levels. This inconsistency is revealed by rising gold and silver prices.

When gold hit $1,900 an ounce in 2011 the Federal Reserve realized that the precious metal market was going to limit its ability to provide enough liquidity to keep the thoughtlessly deregulated financial system afloat. The rapid deterioration of the dollar in terms of gold and silver would sooner or later spill over into the ...

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Real impact of interest rates on gold prices - Shanghai Metals Market

Stephan Bogner (Rockstone Research) | 25 May 2015 14:44

Janet Yellen Delivers Semi-Annual Testimony To Senate Banking Committee Janet Yellen, Chair of the US Federal Reserve

Boris Gerjovič from Maribor, Slovenia, accomplished a thorough examination of the real impact of interest rates on the price of gold . The results may surprise.

For quite some time, central banks around the globe — first and foremost the Federal Reserve System — are tinkering with the threat of a hike in interest rates, whereas the prompt result is a ‘Damocles Sword’ hovering above the markets, especially gold (higher US interest rates are generally believed to lead to ...

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oftwominds-Charles Hugh Smith: Our Crazy-Making Economy's Endgame: Festering Frustration Seeking an Outlet

oftwominds-Charles Hugh Smith: Our Crazy-Making Economy's Endgame: Festering Frustration Seeking an Outlet | Gold and What Moves it. | Scoop.it
The consequence of policies that exacerbate injustice, inequality and double-bind demands is a madness that will find a social and economic outlet somewhere, sometime.

We all know crazy-makers: people who make contradictory claims about reality, who say one thing and do another, who change their stories constantly to justify their own pursuit of self-interest, who demand the impossible of others while giving themselves unlimited excuses.

When they can't change reality to suit their purposes, they change their accounts of reality, and stick with the revised stories even when they are contradictory.

This describes the entire financial structure of the U.S.: crazy-making.
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