Gold and What Moves it.
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Gold Shares Investments 2013-2016 « Jim Sinclair's Mineset

The most important final product in any public company lies in the reward to investors for their confidence in management and product. That means that values are translated efficiently into market recognition and therefore shareholder value.

 

Never before has the gold exploration, development and production industry faced unique challenges in the transmission of value to market price. The exploration, development and production of properties is today but one factor in valuation. Today retail investment interest in all these companies has been dwarfed by investment funds, index funds, option strategies and hedge funds, many of which have, in terms of age, managers that have never experienced the leverage of a gold company to the price of gold as to earnings.

 

The cost factors of this industry have risen, but are far from changing the industry’s leverage characteristic. As the price of gold rises, lower grade material becomes increasingly economic.

 

The industry is not without blame for inadvertently nurturing the idea of increased costs as its ...

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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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This Is Why The Price Of Gold Will Be Launched Into The Stratosphere - King World News

This Is Why The Price Of Gold Will Be Launched Into The Stratosphere - King World News | Gold and What Moves it. | Scoop.it
With the next global crisis rapidly approaching, this is why the price of gold will be launched into the stratosphere.

“One simple rule to follow: Determine what is best for the government and know that is what the powers are working to make happen. Inflation is what is best for a government with enormous debt.” — Ayn Rand

Systematic Over-Indebtedness & Inflation
By Ronald-Peter Stoeferle, Incrementum AG Liechtenstein
June 20 (King World News) –The goal of every organism, every human being, and every bureaucracy is to maximize his chances of survival. To this extent, deflation constitutes an existential threat to the current monetary system that needs to be fought at all costs. To gloss over the inherent instability of the credit system, the existing credit deflation will be compensated by extremely expansive central bank policies. We think this is a tightrope walk…
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We're in a Boiling-Point Crisis of Exploitive Elites

We're in a Boiling-Point Crisis of Exploitive Elites | Gold and What Moves it. | Scoop.it
The "fixes" to the stagnation of postwar Capitalism in the 1970s were financialization, globalism, and the sustained expansion of debt--all have run out of steam.
Many of us have written about cycles in the past decade: Kondratieff economic cycles, business/credit cycles, the Strauss–Howe generational theory (an existential national crisis arises every four generations, as described in their book The Fourth Turning), and long-wave cycles of growth and decline, as described in seminal books such as The Great Wave: Price Revolutions and the Rhythm of History and War and Peace and War: The Rise and Fall of Empires.

There is another Rhythm of American History that few recognize: the economic, social and political crises sparked by exploitive Elites. There are two dynamics that drive these crises:
1. The exploitation of commoners by financial/political Elites reaches extremes that create systemic instability as commoners no longer have the means to improve their conditions.
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Chris Martenson Explains Why The Markets Are Overdue For A Gigantic Bust | Silver Doctors

It’s just not possible to print our way to prosperity…

From Chris Martenson: 

Let me begin with a caveat: confirmation bias is an ever-present risk for an analyst such as myself.

If you’re not familiar with the term, ‘confirmation bias’ suggests that once we’ve invested time and emotional energy into developing a worldview, we’ll then seek information to confirm that view.   

After writing about the economy for so many years, I’m now so convinced that we can’t print our way to prosperity that I find myself seeing signs confirming this view everywhere, every single day. So that’s the danger to be aware of when listening to me.  I’m going to keep repeating this mantra and Im going to keep finding data that supports this view.

Based on lots of historical inputs, I have concluded that Printing money out of thin air can engineer lots of things, including asset price bubbles and the redistribution of wealth from the masses to the elites.  But it cannot print up real prosperity.
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Not one thing has changed in my outlook for the markets - Brief Thoughts on the Fed, The Recovery™, and the Markets

Not one thing has changed in my outlook for the markets - Brief Thoughts on the Fed, The Recovery™,  and the Markets | Gold and What Moves it. | Scoop.it

Not one thing has changed in my outlook for the markets.

The Recovery™ is an artificial, almost farcical construct by and for the one percent, and no one else.  Nothing could be more obvious based on the economic results of the last twenty years starting with the Asian currency crisis and the first tech bubble of 2000.

Chris Whalen of the Institutional Risk Analyst thinks that the Fed is going to do a 'one and done' in June and then won't be raising rates again anytime soon, perhaps 'for years.'   I could not agree more.

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The fantasy world of the FED

The fantasy world of the FED | Gold and What Moves it. | Scoop.it
Do you remember the halcyon days when rising interest rates and increasing interest rate differentials were the precursor to a stronger currency? Happy days, when life and trading were considerably more straightforward. Scroll forward to this week’s decision for the FED and as far as the Fed Watch tools are concerned, and indeed many of the associated monitoring tools, a rate increase this week is a done deal, with the Fed rate tool on investing.com rising from 88.2% last week, to 91.8% at the time of writing. This then provides Janet and her team with plenty of wiggle room to allow for a third rate increase to be factored in, but which just like Christmas shopping will no doubt be left once again to the last minute.

Given the probabilities and the prospect of more to come, it is therefore odd to consider the daily chart of the US dollar, which offers a polar opposite view of the fundamental picture, and the best analogy here is one of fact and fiction. On the one side we have the FED desperately seeking confirmation that all is well in the US economy in much the same way political parties only seek out those polls that support their views and aspirations, which is something we saw during the UK election. Behavioural psychologists call this confirmation bias and is something we as traders can be prone to as well.  However, for the FED the market is becoming increasingly disbelieving, and basing moves on the facts of economics rather than the fiction born from face saving and ego, with the daily chart for the US dollar revealing the true story.
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"Nothing Else Matters": Central Banks Have Bought A Record $1.5 Trillion In Assets In 2017 | Zero Hedge

One month ago, when observing the record low vol coupled with record high stock prices, we reported a stunning statistic: central banks have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, "the largest CB buying on record" according to Bank of America. Today BofA's Michael Hartnett provides an update on this number: he writes that central bank balance sheets have now grown to a record $15.1 trillion, up from $14.6 trillion in late April, and says that "central banks have bought a record $1.5 trillion in assets YTD."
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James Turk - Gold Short Squeeze Developing As Next Financial Crisis Is Just Around The Corner - King World News

James Turk - Gold Short Squeeze Developing As Next Financial Crisis Is Just Around The Corner - King World News | Gold and What Moves it. | Scoop.it
The centrally planned markets may have done very little recently, but today James Turk told King World News that a short squeeze is developing in the gold market as the next financial crisis is now just around the corner.

James Turk:  “Even though they didn’t gain much in price, today was another good day for gold and silver, Eric. Both precious metals were steady and refused to give up ground. They both continue to chew through the enormous amount of paper that shorts and central planners have been selling in an attempt to cap prices…
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China’s next step to destroy the dollar

China’s next step to destroy the dollar | Gold and What Moves it. | Scoop.it
From Byron King, Analyst, Rickards’ Gold Speculator:

China is currently modifying the terms of its oil trade with Saudi Arabia.

Specifically, China is working on a deal to pay for Saudi oil using Chinese yuan. This effort poses a direct threat to the security of the dollar.

If this China-Saudi deal happens — yuan for oil — it’s another step closer to the grave for the petrodollar, which has dominated global finance since 1974. You can revisit Jim Rickards’ article about the assault on the dollar, here.

To recap, the petrodollar is weakening because the dollar is losing power as the world’s reserve currency. This is similar to the way pounds sterling gradually fell out of favor during the decline of the British Empire. The decline may take a long time, but what we’re seeing today is another step in the death march of the dollar.

I’ll tell you how to protect your wealth in dollars after I explain this shift…
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Rickards: The greatest financial bubble in history

Rickards: The greatest financial bubble in history | Gold and What Moves it. | Scoop.it
From Jim Rickards, Editor, Currency Wars Alert:

China is in the greatest financial bubble in history. Yet, calling China a bubble does not do justice to the situation. This story has been touched on periodically over the last year.

China has multiple bubbles, and they’re all getting ready to burst. If you make the right moves now, you could be well positioned even as Chinese credit and currency crash and burn.

The first and most obvious bubble is credit. The combined Chinese government and corporate debt-to-equity ratio is over 300-to-1 after hidden liabilities, such as provincial guarantees and shadow banking system liabilities, are taken into account.

Paying off that debt requires growth, but the growth itself is fueled by more debt. China is now at the point where enormous new debt is required to achieve only modest new growth. This is clearly non-sustainable.
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You Can Look Stupid Now or Look Stupid Later-Chris Martenson | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Resource analyst and futurist Chris Martenson says, “I’d rather look stupid now than look stupid later.” Martenson thinks the stock market rise since the last crash is mostly manufactured by central banks.  Martenson explains, “What in the heck is going on is real simple.  We have central banks who have now taken over everything in the markets.  Let’s be clear, markets go up when they are really well supplied with liquidity.  We have $200 billion or more a month coming into these markets  . . . these central banks are dumping $200 billion, sometimes as much as $250 billion a month into the markets.”
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Russian explorers find 'swamp' of Soviet money, all worthless | Gold Anti-Trust Action Committee

By Maria Kiseleva and Alistair Coleman
British Broadcasting Corp., London
Thursday, May 25, 2017

A group of explorers in Russia have found around a billion roubles in old Soviet money at an abandoned mine, but it's all completely worthless.

The group from St. Petersburg, who publish a blog on abandoned sites across Russia, came across the money after following rumors that large quantities of cash had been dumped in old missile silos near Moscow after the collapse of the Soviet Union, the Komsomolskaya Pravda news website reports:

http://www.spb.kp.ru/daily/26683.4/3705974/
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Yet another example how real money, gold and silver, is vastly superior to this fake stuff.
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Over The Last 10 Years The U.S. Economy Has Grown At EXACTLY The Same Rate As It Did During The 1930s

Over The Last 10 Years The U.S. Economy Has Grown At EXACTLY The Same Rate As It Did During The 1930s | Gold and What Moves it. | Scoop.it
Even though I write about our ongoing long-term economic collapse every day, I didn’t realize that things were this bad.  In this article, I am going to show you that the average rate of growth for the U.S. economy over the past 10 years is exactly equal to the average rate that the U.S. economy grew during the 1930s.  Perhaps this fact shouldn’t be that surprising, because we already knew that Barack Obama was the only president in the entire history of the United States not to have a single year when the economy grew by at least 3 percent.  Of course the mainstream media continues to push the perception that the U.S. economy is in “recovery mode”, but the truth is that this current era has far more in common with the Great Depression than it does with times of great economic prosperity.

Earlier today I came across an article about President Trump’s new budget from Fox News, and in this article the author makes a startling claim…

The hard fact is that the past decade’s $10 trillion in deficit spending has produced the worst economic growth as measured by Gross Domestic Product in our nation’s history.  You read that right, in the past decade our nation’s economy grew slower than even during the Great Depression. This stagnant, new normal, low-growth economy is leaving millions of working age people behind who have given up even trying to participate, and has led to a malaise where many doubt that the American dream is attainable.

When I first read that, I thought that this claim could not possibly be true.  But I was curious, and so I looked up the numbers for myself.
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Fed Trying to Cripple Trump Economy-Danielle DiMartino Booth | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com

Financial expert and former top Federal Reserve insider Danielle DiMartino Booth says the latest Fed rate hike is nothing less than an attempt to make life worse for President Trump. DiMartino Booth explains, “They are trying to do the opposite of what they did a year ago because the people who occupy the White House have changed.  That’s the only feasible answer I can come up with to explain the Fed tightening into a weakening economy.  Their own metrics don’t lie.  Nonfarm payroll growth has slowed appreciably over the last 12 months, and their favorite inflation metric is back below 2%.  These are the rules they have made up, not me.  They (the Fed) are making policies against their own rules, and there has to be a reason for it.”
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What Is the Market Telling Us?

What Is the Market Telling Us? | Gold and What Moves it. | Scoop.it
The entire global economy now depends on this stripped-of-information "market" for its stability.
Ho-hum, another day, another record high in the S&P 500 (SPX). What is this market telling us? If you're long, the market is screaming "you're a genius!":


But other than that, what else is the market telling us? Is it telling us anything about the real-world economy and the open market for equities based in that real-world economy?
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Can We See a Bubble If We're Inside the Bubble?

Can We See a Bubble If We're Inside the Bubble? | Gold and What Moves it. | Scoop.it
We want this time to be different so badly, we can almost taste it.
If you visit San Francisco, you will find it difficult to walk more than a few blocks in central S.F. without encountering a major construction project. It seems that every decrepit low-rise building in the city has been razed and is being replaced with a gleaming new residential tower.
Parking lots have been ripped up and are now sprouting condos and luxury rental flats.
This boom is not overly surprising, given the centrality of San Francisco and the S.F. Bay Area in the Hipster-Techie Mental Map which I have sketched here for those who may still suffer from delusions that Washington D.C. and New York matter--(hint: they don't.)
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Palladium Blows the Whistle on the London Metals Market | David Jensen | Safehaven.com

We noted that London palladium lease rates started to surge in late 2016 giving early visibility of a physical palladium supply shortage in the London precious metals market.
The Achille's Heel of the world's predominant price setting market for precious metals (gold, silver, platinum, and palladium) in London is the London Bullion Market Association's (LBMA) design by the Bank of England to substitute trading and holding metal itself - the historically reliable price discovery method - with unallocated (unbacked) precious metals spot contracts.  Unallocated spot contracts (for immediate ownership of metal) are effective in suppressing metal prices if investment funds and banks can be convinced that the contract claims, that can be created without limit, are a substitute for metal itself. The LBMA currently trades ownership of more than 200M oz of gold each day (more than 2x global annual mine production) in the form of unallocated spot metal contracts with an estimated 400M to 600M oz of unallocated claims for gold standing in the London market.
This unbalanced market of paper claims vs the reality of actual available metal can continue while investors are happy to hold certificates of metal ownership. The problem arises when certificates of metal are not adequate substitutes for metal.
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Manipulated and Made-up Markets | Michael Pento | Safehaven.com

The economic ruse that is run by Communist China is growing bigger by the day. The formula behind what has been the Great Red Engine of global growth is really very simple: Print new money and funnel it through the state-owned banking system in order to entice businesses and individuals to incur a debilitating amount of non-productive debt.
Historically speaking, countries that have utilized this ersatz form of economics have suffered a currency and bond market crisis. But the command and control government of China always seems to be one step ahead of the laws of economics; and has been able to defer the inevitable day of reckoning due to its large currency reserves.
However, those reserves have dwindled as the nation was forced into selling its dollar-based assets and defend the value of the yuan. The People's Bank of China (PBOC) has spent trillions of dollars over the past four years doing just that.
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PROFIT/PROTECT from Looming MEGA-RISKS

Mega-Risks Loom in the Next very few months and most will be realized. But for Investors properly positioned, they Provide Very Substantial Profit and Wealth Protection Opportunities. First let’s examine the Risks, then the Profit Opportunities.
 
MEGA-RISKS
 
China
 
Perhaps the Main One will be the slowdown in growth in China, the world’s second largest economy. This Slowdown will be Caused mainly by China’s serious drive to restrain unsustainable credit growth.
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China cautions India, others against any informal alliance - The Economic Times

China cautions India, others against any informal alliance - The Economic Times | Gold and What Moves it. | Scoop.it
BEIJING: China today cautioned India and other Asian countries against forming informal alliances to counter its increasing assertiveness as they cannot rely on the US in Trump era.

"I have seen the reports but I doubt the authenticity of these reports," Chinese Foreign Ministry spokesperson Hua Chunying told media briefing here.

She was commenting on reports from Shangri-La Dialogue in Singapore that India, Japan, Australia and Vietnam were contemplating informal alliances in view of the uncertainties of US policies under President Donald Trump.
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The Path to Inflation: "Helicopter Money"

The Path to Inflation: "Helicopter Money" | Gold and What Moves it. | Scoop.it
he general view in inflation is dead, essentially forever. Maybe. Maybe not.
We all know real-world inflation for big-ticket expenses is far above the official rate of around 2% annually.

Yet conventional economists are virtually unanimous that deflation is the danger and inflation is a "good thing" we need to spur so servicing existing debt becomes easier for debtors.

Due to the deflationary pressures of technology and stagnant wages for the bottom 90%, the consensus sees low inflation as far as the eye can see.
When the consensus is near-100% on one side of the boat, we can safely bet Reality will not conform to expectations. This leads to a question: what could cause official near-zero inflation to surprise the consensus and leap higher?
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Crypto Currencies Show Global Reset Underway – Clif High | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Internet data mining expert Clif High has just finished an in-depth dive on crypto currencies such as Bitcoin. High uses what he calls “predictive linguistics” to spot trends and make predictions for future events.  With the latest price spikes in so-called blockchain type crypto currencies, what does Clif High see with his latest Internet mining report?  High reveals, “We are not at a period of time where we are valuing one store of wealth, Bitcoin against a store of debt, the dollar.  We are, instead, looking at an episode of hyperinflation. It is an episode where a great many people lose faith in the dollar, and they rush into Bitcoin and other crypto currencies. . . .   There are people coming in and out of the crypto space based on the degrading levels of confidence in the U.S. dollar.  So, we are at a global currency reset at this point. There will be no Bretton Woods conference.  There will be no G-7 central bank meeting that will be meaningful because these individuals are behind the curve.  The curve is being led by all the people as they lose confidence in all of the fiat currencies. . . . We have demonstrable proof that the managers of the dollar are very bad at it.  Lots of people understand this, and they want out of the dollar and into something else.”
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How Debt-Asset Bubbles Implode: The Supernova Model of Financial Collapse

How Debt-Asset Bubbles Implode: The Supernova Model of Financial Collapse | Gold and What Moves it. | Scoop.it
Gravity eventually overpowers financial fakery.

When debt-asset bubbles expand at rates far above the expansion of earnings and real-world productive wealth, their collapse is inevitable. The Supernova model of financial collapse is one way to understand this.
As I noted yesterday in Will the Crazy Global Debt Bubble Ever End?, I've used the Supernova analogy for years, but didn't properly explain why it illuminates the dynamics of financial bubbles imploding.
According to Wikipedia, "A supernova is an astronomical event that occurs during the last stellar evolutionary stages of a massive star's life, whose dramatic and catastrophic destruction is marked by one final titanic explosion."
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Is Your Cost of Living Rising? Why the Elites Aren't Worried About Inflation

Is Your Cost of Living Rising? Why the Elites Aren't Worried About Inflation | Gold and What Moves it. | Scoop.it
If you want to understand why we're fragmenting as a society, start by looking at the asymmetric burdens imposed by inflation.

In our household, we measure real-world inflation with the Burrito Index: How much has the cost of a regular burrito at our favorite taco truck gone up?
The cost of a regular burrito from our local taco truck has gone up from $2.50 in 2001 to $5 in 2010 to $6.50 in 2016.
That’s a $160% increase since 2001: 15 years in which the official inflation rate reports that what $1 bought in 2001 can supposedly be bought with $1.35 today.
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Inflation Isn't Evenly Distributed: The Protected Are Fine, the Unprotected Are Impoverished Debt-Serfs

Inflation Isn't Evenly Distributed: The Protected Are Fine, the Unprotected Are Impoverished Debt-Serfs | Gold and What Moves it. | Scoop.it
Welcome to debt-serfdom, the only possible output of the soaring cost of living for the unprotected many who are ruled by a hubris-soaked, subsidized Protected Elite.

The Consumer Price Index (CPI) measure of inflation is bogus on a number of fronts, a reality I've covered a number of times: though the heavily gamed official CPI is under 2% for the past four years, the real rate is 7% to 12%, depending on whether you happen to live in locales with soaring rents/housing and healthcare costs.
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Want to Understand Rising Wealth Inequality? Look at Debt and Interest

Want to Understand Rising Wealth Inequality? Look at Debt and Interest | Gold and What Moves it. | Scoop.it
"Governments cannot reduce their debt or deficits and central banks cannot taper. Equally, they cannot perpetually borrow exponentially more. This one last bubble cannot end (but it must)."
I often refer to debt serfdom, the servitude debt enforces on borrowers. The mechanism of this servitude is interest, and today I turn to two knowledgeable correspondents for explanations of the consequences of interest.

Correspondent D.L.J. explains how debt/interest is the underlying engine of rising income/wealth disparity:
Here is a table of the growth rate of the GDP.
If we use $16T as the approximate GDP and a growth rate of, say, 3.5%, the total of goods and services would increase one year to the next by about $500B.
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