Gold and What Moves it.
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Most markets that matter...and the U.S. financial system can control...are rigged seven ways to heaven - @EdSteerGSD

Most markets that matter...and the U.S. financial system can control...are rigged seven ways to heaven - @EdSteerGSD | Gold and What Moves it. | Scoop.it

Ed Steer:

 

"Most markets that matter...and the U.S. financial system can control...are rigged seven ways to heaven...and this certainly includes the precious metals, with yesterday's price action being another case in point.

 

I have no idea as to when all this madness will end, but I would think that we'll find out sometime after the presidential inauguration coming up on Monday.

The way that gold and silver bullion are flying off the shelves at the U.S. Mint is only one of many canaries in the coal mine that are singing their lungs out at the moment.  "Currency Wars" is another.  And as I've said on many occasions, one of the first things that the powers that be can do to instill higher inflationary expectations in the general population, would be to allow the precious metals to run up a significant amount.  Time will tell whether my thoughts are anywhere close to the mark. ..."

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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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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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Russia Stockpiles Gold To Prevent A Currency Attack By The U.S.

Russia Stockpiles Gold To Prevent A Currency Attack By The U.S. | Gold and What Moves it. | Scoop.it
“Countries stockpile gold for strategic and defensive reasons — for instance, in case relations between nations are damaged and their currencies lose their value,” Gabriel Rubinstein, a financial consultant and former representative of the Argentine Central Bank (source link is below)

Russia has been accumulating a significant gold reserve for over a decade, along with China and most if not all of the BRIC/SCO/Silk Road countries.  This is a fact that has been either unnoticed or intentionally ignored by the western mainstream media.  Of course, gold is a barbarous relic that just “sits there and does nothing” (Warren Buffet).
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The Endgame of Financialization: Stealth Nationalization

The Endgame of Financialization: Stealth Nationalization | Gold and What Moves it. | Scoop.it
This is the new model of nationalization: central banks control the valuation of private-sector assets without actually having to own them lock, stock and barrel.
As you no doubt know, central banks don't actually print money and toss it out of helicopters; they create a digital liability and use this new currency to buy assets such as bonds and stocks. Central banks have found that they can take control of the stock and bond markets by buying up as much as these markets as is necessary to force price and yield to do the central banks' bidding.
Central Banks Have Purchased $2 Trillion In Assets In 2017. This increases their combined asset purchases above $15 trillion. A trillion here, a trillion there, and pretty soon you're talking real money--especially if you add in assets purchased by sovereign wealth funds, dark pools acting on behalf of monetary authorities, etc.
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Gold rises, inches closer to the key $1,300 level

Gold rises, inches closer to the key $1,300 level | Gold and What Moves it. | Scoop.it
Gold futures rose Thursday to touch highs near $1,300 an ounce as investors read minutes from the Federal Reserve’s September policy meetings as slightly dovish, offering a lift to the commodity.

December gold GCZ7, +0.50% tacked on $5.20, or 0.4%, to trade at $1,294.10 an ounce, after trading as high as $1,299.80. The exchange-traded SPDR Gold Shares GLD, -0.01%  fell 0.2%, but held on to a gain of 1.2% week to date.
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Our Protected, Predatory Oligarchy: Dirty Secrets, Dirty Lies

Our Protected, Predatory Oligarchy: Dirty Secrets, Dirty Lies | Gold and What Moves it. | Scoop.it
If you want to understand why the status quo is unraveling, start by examining the feudal structure of our society, politics and economy.

The revelations coming to light about Hollywood Oligarch Harvey Weinstein perfectly capture the true nature of our status quo: a rotten-to-the-core, predatory, exploitive oligarchy of dirty secrets and dirty lies protected by an army of self-serving sycophants, servile toadies on the make and well-paid legal mercenaries. Predators aren't an aberration of the Establishment; they are the perfection of the Establishment, which protects abusive, exploitive predator-oligarchs lest the feudal injustices of life in America be revealed for all to see.
The predators reckon their aristocratic status in Hollywood/D.C. grants them a feudal-era droit du seigneur (rights of the lord) to take whatever gratifications they desire from any female who has the grave misfortune to enter their malefic orbit.
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Is The World About To Take A “Gold Shower?”

Is The World About To Take A “Gold Shower?” | Gold and What Moves it. | Scoop.it
The 1944 Bretton Woods international monetary system as it has developed to the present is become, honestly said, the greatest hindrance to world peace and prosperity. Now China, increasingly backed by Russia—the two great Eurasian nations—are taking decisive steps to create a very viable alternative to the tyranny of the US dollar over the world trade and finance. Wall Street and Washington are not amused, but they are powerless to stop it…Now, ironically, two of the foreign economies that allowed the dollar an artificial life extension beyond 1989—Russia and China—are carefully unveiling that most feared alternative, a viable, gold-backed international currency and potentially, several similar currencies that can displace the unjust hegemonic role of the dollar today.
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Jim Rickards: The big Fed story that nobody is talking about… and why it’s good for gold

Jim Rickards: The big Fed story that nobody is talking about… and why it’s good for gold | Gold and What Moves it. | Scoop.it
From Jim Rickards, Editor, Rickards’ Gold Speculator:

Expert consensus was almost unanimous that the Fed had sent a hawkish message after its September meeting. A December rate hike was “still on the table.”

But with or without a December rate hike, the experts were clear that the Fed was still on a path to tighten rates at a sustained tempo.

The view was expressed in all of the major news outlets.

Markets got the message. The dollar rallied, the euro declined, gold traded down and interest rates ticked up. That’s exactly what you would expect if the Fed gave hawkish signals based on continued moderate growth.

There was only one thing wrong with this story, as I explained at the time: everything.
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Russian Gold Reserves Hit Putin-Era High, Buying Frenzy Accelerates

Russian Gold Reserves Hit Putin-Era High, Buying Frenzy Accelerates | Gold and What Moves it. | Scoop.it
Amid a creeping global de-dollarization, Vladimir Putin appears to be the one leading the charge from the precious metal perspective.



As Bloomberg's Yuliya Fedorinova and Olga Tanas report, the Bank of Russia has more than doubled the pace of gold purchases, bringing the share of bullion in its international reserves to the highest of Putin’s 17 years in power, according to World Gold Council data.
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The US Economy Is Failing – Paul Craig Roberts

The US Economy Is Failing – Paul Craig Roberts | Gold and What Moves it. | Scoop.it
IRD Note:    Along with the housing market, the entire economy is beginning to collapse. Unless the Fed implements another round of trillions in money printing, the laws of economics will take control of the system. With the housing market, the point of inflection downward began to occur in late spring/early summer. I have detailed this assertion with copious amounts of data and ways to profit from this insight in recent  Short Seller’s Journals.  Despite the melt-up in homebuilder stocks, one of my ideas from last week was down 10% through Friday.

—————

The commentary below is by Paul Craig Roberts:

Do the Wall Street Journal’s editorial page editors read their own newspaper?
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Stagnation Is Not Just the New Normal--It's Official Policy

Stagnation Is Not Just the New Normal--It's Official Policy | Gold and What Moves it. | Scoop.it
Japan is a global leader is how to gracefully manage stagnation.

Although our leadership is too polite to say it out loud, they've embraced stagnation as the new quasi-official policy. The reason is tragi-comically obvious: any real reform would threaten the income streams gushing into untouchably powerful self-serving elites and fiefdoms.
In our pay-to-play centralized form of governance, any reform that threatens the skims, privileges and perquisites of existing elites and fiefdoms is immediately squashed, co-opted or watered down.
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This Chart Defines the 21st Century Economy

This Chart Defines the 21st Century Economy | Gold and What Moves it. | Scoop.it
There is nothing inevitable about such vast, fast-rising income-wealth inequality; it is the only possible output of our financial and pay-to-play political system.
One chart defines the 21st century economy and thus its socio-political system: the chart of soaring wealth/income inequality. This chart doesn't show a modest widening in the gap between the super-wealthy (top 1/10th of 1%) and everyone else: there is a veritable Grand Canyon between the super-wealthy and everyone else, a gap that is recent in origin.
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Seven Reasons to Acquire Gold - Today

Seven Reasons to Acquire Gold - Today | Gold and What Moves it. | Scoop.it
Seven Reasons to Acquire Gold – Today by Rory – The Daily Coin


One of the mainstream media CIA propaganda operations recently published an article titled Seven Reasons to Sell Gold As we have recently documented the mainstream media has continued, if not increased, their attacks on gold while embracing bitcoin. We find this fact strange for a number of reasons.  What we also find interesting is the internet only news websites don’t see this as a warning sign that something is probably out of balance. In the past the mainstream media has been used, to a degree, to measure the depths of falsehoods being spread. This does not apply when it comes to bitcoin as it has become the darling of most internet only news websites. We don’t trust bitcoin any more than we trust the mainstream media that sold their soul to the CIA decades ago.
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James Turk - After The 2-Week Takedown In Gold And Silver, Here Is The Big Surprise - King World News

James Turk - After The 2-Week Takedown In Gold And Silver, Here Is The Big Surprise - King World News | Gold and What Moves it. | Scoop.it
BIS Surprises Gold Market Participants
Eric King:  “James, I wanted to talk about the BIS (Bank for International Settlements) mobilizing all of that gold.  As you know, the bullion banks, who act as agents for Western governments, were heavily shorting the gold market.  And you were saying there were large backwardations in gold and silver, Maguire was talking about how they were getting overrun in the physical market.  And then all the sudden the BIS mobilized all of that gold and the smash in the gold and silver markets began.  Can you talk about that?”

James Turk:  “Yes, we’ve seen this so many times, Eric, that you almost have to expect it.  When there is panic behind the scenes by the bullion banks and the governments that are trying to cap the gold price, they go to the vault and they pull out some bars that haven’t seen the light of day for probably decades and then ship them over to Asia.  And this just happened again…
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China's New Oil Exchange Where Countries Will Be Able To Take Gold As Payment Plus A Worldwide Paradigm Shift - King World News

China's New Oil Exchange Where Countries Will Be Able To Take Gold As Payment Plus A Worldwide Paradigm Shift - King World News | Gold and What Moves it. | Scoop.it
As trading continues in the 3rd week of October, here is a look at China's new oil exchange where countries will be able to take gold as payment, plus a worldwide paradigm shift.
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The dollar continues to lose power.
 
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The Fading Scent of the American Dream

The Fading Scent of the American Dream | Gold and What Moves it. | Scoop.it
The theme this week is The Rot Within.
It's been 10 years since I devoted a week to the theme of The Rot Within(September 17, 2007). Back in 2007, I listed 16 systemic sources of rot in our society, politics and economy; none have been fixed. Instead, the gaping holes have been filled with Play-Do and hastily painted to create the illusion of shiny solidity.
We live in a simulacrum society in which the fading scent of the American Dream is more a collective memory kept alive for political purposes than a reality. Even more disturbing, the difference between a phantom prosperity (or in homage to the Blade Runner film series, shall we say a replicant prosperity?) and real prosperity has been blurred by layers of simulated signals of prosperity and subtexts that are carefully designed to harken back to a long-gone authentic prosperity.
This is the reality: the American Dream is now reserved for the top 0.5%, with some phantom shreds falling to the top 5% who are tasked with generating a credible illusion of prosperity for the bottom 95%. While questions about who is a replicant and who is real become increasingly difficult to answer in the films, the question about who still has access to the American Dream is starkly answered by this disturbing chart:
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Jim Rickards: Four major catalysts for gold

Jim Rickards: Four major catalysts for gold | Gold and What Moves it. | Scoop.it
From Jim Rickards, Editor, Rickards’ Gold Speculator:

The Federal Reserve would like to continue “normalizing” interest rates. But the most recent economic data simply does not justify it.

On Sept. 29, the August core PCE year-over-year (YoY) inflation figure was released. And the data came in exactly as I expected. YoY inflation for August was just 1.3%, down 0.6% from the January reading of 1.9%. That marked eight consecutive months of flat or lower readings.

Needless to say, the Fed is miles away from their 2.0% target. They’re actually moving consistently in the wrong direction.

Second, the September employment report came out the Friday before last. A Reuters survey of economists had expected the economy to add 90,000 jobs in September.

How many did it really add?
Hal's insight:
Click through for the full post. The Fed's continued manipulation of markets has gone on far longer than I thought it could. How long can it continue? How long will the public continue to believe the fake numbers? I haven't a clue.
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About Those "Hedonic Adjustments" to Inflation: Ignoring the Systemic Decline in Quality, Utility, Durability and Service

About Those "Hedonic Adjustments" to Inflation: Ignoring the Systemic Decline in Quality, Utility, Durability and Service | Gold and What Moves it. | Scoop.it
The quality, durability, utility and enjoyment-of-use of our products and services has been plummeting for years.

One of the more mysterious aspects of the official inflation rate is the hedonic quality adjustments that the Bureau of Labor Statistics makes to the components of the Consumer Price Index (CPI).
The basic idea is that when innovations improve the utility (and pleasure derived from) a product, the price is adjusted to reflect this improvement.
So if television screens become larger, while the price per TV remains the same, the hedonic quality adjustment adjusts the price down when calculating the CPI.
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The Consent of the Conned

The Consent of the Conned | Gold and What Moves it. | Scoop.it
Every single line item in our entire Bernie Madoff scam of a system is cooked.

My theme this week is The Great Unraveling, by which I mean the unraveling of our social-political-economic system of hierarchical, centralized power. Let's start by looking at how the basis of governance has transmogrified from consent of the governed to consent of the conned.
In effect, our leadership leads by lying. As we know, when it gets serious, you have to lie to preserve the perquisites and power of those atop the wealth-power pyramid, and well, it's serious all the time now, so lies are the default setting of the entire status quo.
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Be Careful What You Wish For: Inflation Is Much Higher Than Advertised

Be Careful What You Wish For: Inflation Is Much Higher Than Advertised | Gold and What Moves it. | Scoop.it
What the Federal Reserve is actually whining about is not low inflation--it's that high inflation isn't pushing wages higher like it's supposed to.
It's not exactly a secret that real-world inflation is a lot higher than the official rates--the Consumer Price Index (CPI) and Personal Consumption Expenditures PCE). As many observers have pointed out, there are two primary flaws in the official measures of inflation:
1. Big-ticket expenses such as rent, healthcare and higher education--expenses that run into the thousands or tens of thousands of dollars annually--are severely underweighted or mis-reported. While rents are soared, the CPI uses an arcane (and misleading) measure of housing costs: owners equivalent rent. Why not just measure actual rents paid and actual mortgages/property taxes/home insurance premiums paid?
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What Few Expect: Inflation Will Surge, Destabilizing the Status Quo

What Few Expect: Inflation Will Surge, Destabilizing the Status Quo | Gold and What Moves it. | Scoop.it
Few seem to ponder what global shortages in key commodities might do to prices.
If there is any economic truism that is accepted by virtually everyone, it's that inflation is low and will stay low into the foreseeable future. The reasons are numerous: technology is deflationary, globalization is deflationary, central banks will keep interest rates near-zero essentially forever, and so on.
Just for laughs, let's look at healthcare, almost 20% of America's entire economy, as an example of low inflation forever. If being up over 200% in the 21st century is low inflation, I'd hate to see high inflation.

Here's the official Consumer Price Index (CPI), which as many have noted, severely distorts real-world inflation by claiming big-ticket items such as college tuition and healthcare are mere slivers in household budgets.
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2009 - 2016: Was the Eight-Year Experiment in Maintaining the Status Quo a Success or a Failure?

2009 - 2016: Was the Eight-Year Experiment in Maintaining the Status Quo a Success or a Failure? | Gold and What Moves it. | Scoop.it
Clearly, the core strategy of maintaining the status quo is to borrow and spend trillions of additional dollars every year.

The Obama presidency was a grand experiment to test this thesis: the status quo of the U.S. is a self-correcting mechanism. Left to its own devices, it will automatically correct any socio-economic-political imbalances, given enough time.
The Grand Strategy of the post-Global Financial Crisis era was simple: maintain the status quo as is. The Obama administration's major policy initiative, ObamaCare, a.k.a. the Affordable Care Act, was nothing but the formalization of the existing status quo in healthcare, i.e. the taxpayers subsidize private-sector profiteering.
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Trump can’t stop America from going broke

Trump can’t stop America from going broke | Gold and What Moves it. | Scoop.it
From Bill Bonner, Chairman, Bonner & Partners:

POITOU, FRANCE – From comedy… to farce… to tragedy.

We laugh. We guffaw. And then we wish we hadn’t bought a house in inner-city Baltimore.

Already, in Charm City, police helicopters peer into our windows… sirens wail at 3 a.m… . and the monuments to our dead ancestors disappear in the night.

What will happen when the real crisis comes… when the debts come due… and the feds can no longer afford to pay off their crony friends and zombie clients?
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Is This The Real Driver Of Gold's Recent Weakness?

Is This The Real Driver Of Gold's Recent Weakness? | Gold and What Moves it. | Scoop.it
If you are a precious metals investor then you may be wondering why the price of gold and silver has been slammed in recent weeks... amid ever-increasing nuclear armageddon rhetoric, storms, quakes, floods, and a central bank (that is notoriously bad at forecasting) about to attempt to do something with its balance sheet thathas never bee
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How the fed plans to ‘unwind’ $4T recession stimulus

How the fed plans to ‘unwind’ $4T recession stimulus | Gold and What Moves it. | Scoop.it

by John Crudele:


All right, it’s official.

The Federal Reserve really, really, really is going to start to unwind the $4 trillion-plus in stimulus it put into the US economy to fight the Great Recession.

Really, it is.

The Fed said so last week. No more talk. It’s time for real action. Really.

The problem is, the Fed hasn’t yet disclosed how it is going to make disappear all the extra trillions in money it printed as part of quantitative easing and all of QE’s offspring.

And I’m sure Fed Chair Janet Yellen doesn’t appreciate people like me bringing up that point.

Follow the bouncing ball. ...

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You Can Only Choose One: Cheap Oil or a Weak Dollar

You Can Only Choose One: Cheap Oil or a Weak Dollar | Gold and What Moves it. | Scoop.it
When the price of oil rises to the point of pain, just remember the handy-dandy discount mechanism: a much stronger US dollar.
Glance at this chart of the trade-weighted U.S. dollar, and note the swing highs and lows in the price of oil per barrel around each peak and trough. You can look up historical inflation-adjusted prices of oil in USD on this handy chart: Crude Oil Prices - 70 Year Historical Chart (macrotrends.net)
Hal's insight:
Click through for the full post. Both oil and the dollar effect gold.

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David Stapleton's curator insight, September 26, 2:17 AM
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Central Bank “Cryptocurrencies”? Just a Different Kind of Funny-Money

Central Bank “Cryptocurrencies”? Just a Different Kind of Funny-Money | Gold and What Moves it. | Scoop.it
Central banks already have their own funny-money that they can conjure into existence in infinite quantities. So why are these institutions of monetary crime openly expressing interest in cryptocurrencies?
Hal's insight:
Exactly. And the central banks would know.
 
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