Gold and What Moves it.
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Lear Capital: Is Fiscal Ravine Really a Gold Mine? | Lear Capital Blog

Lear Capital: Is Fiscal Ravine Really a Gold Mine? | Lear Capital Blog | Gold and What Moves it. | Scoop.it

It’s always been curious to me, how Gold reserves of countries are never mentioned in the context of using them to protect against default.  I mean, “why possess gold reserves if they are not for the purpose of settling debt or securing much needed credit?”  In other words, “Bailing You Out!” when times are tough.  Let’s take Greece for example.  Greece has a reported 100 tonnes of gold, yet ne’er a word ever about it being used to pay off debt, or, as collateral against economy-saving loans from the ECB.

 

What we did hear was that, when Greece arrived at a point of bankruptcy, its citizens went on a gold buying spree, cashing in savings to invest in gold.  Herein, perhaps, lies the answer to the why-possess-gold question.  When the party is over and your paper money could be worth less than the paper your party hat was printed on, protect the gold, not the currency!  Gold will never be worth zero!  You can’t say that about currencies.

 

Remember that, as our US markets and the economy try to climb out of our fiscal ravine.  Currency advocates would have us believe we can print our way out while still preserving the integrity of our respective currencies.  But, when it comes right down to it, the very people flooding the world with printed money are buying gold.  According to the World Gold Council, 2012 was a record year for Central Bank gold buying, a trend expected to continue into 2013. ...

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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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GDP Is Bogus: Here's Why

GDP Is Bogus: Here's Why | Gold and What Moves it. | Scoop.it
Here's a chart of our fabulous always-higher GDP, adjusted for another bogus metric, official inflation.
The theme this week is The Rot Within.
The rot eating away at our society and economy is typically papered over with bogus statistics that "prove" everything's getting better every day in every way. The prime "proof" of rising prosperity is the Gross Domestic Product (GDP), which never fails to loft higher, with the rare excepts being Spots of Bother (recessions) that never last more than a quarter or two.

Longtime correspondent Dave P. of Market Daily Briefing recently summarized the key flaw in GDP: GDP doesn't reflect changes in the balance sheet, i.e. debt.
So if we borrow money to pay people to dig holes and then fill them with the excavated dirt, GDP rises to general applause. The debt we took on to fund the make-work isn't accounted for at all.
Hal's insight:
Click through for the full post. One begins to question whether any numbers reports from the gov.
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Shell to open electric vehicle charging points at UK petrol stations

Shell to open electric vehicle charging points at UK petrol stations | Gold and What Moves it. | Scoop.it
Oil firm’s first step into UK electric car sector allows drivers to rapid charge battery at handful of forecourts from this week

Via Graham Watson, Bruce Fellowes
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Graham Watson's curator insight, October 18, 2:52 AM
The infrastructure for electric cars is currently lacking, but the fact that existing petrol stations, notably Shell, are starting to open charging points alongside conventional petrol pumps.

This is likely to accelerate over time, although it will be interesting to see how the petrol companies commodify this, or even move into the electric car market.
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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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Yuan As Reserve Currency - Really?

Yuan As Reserve Currency - Really? | Gold and What Moves it. | Scoop.it
Yuan As Reserve Currency – Really? by Rory – The Daily Coin



I was listening to a video earlier this morning about China Rapidly Moving Toward Reserve Currency! These 60+ Countries Sign Agreement! and having known for the past several years how China has stated, publicly and through the IMF, she would like to see an end to the reverse currency system and “the dangers of relying on one nation’s currency for international payments” I found this video to be a little disturbing. It seems there should have been a little more thought and research conducted prior to producing such an article.

By simply reviewing the facts, as published in the supporting article for the video one quickly learns something is out of balance.
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THE FRAGILE GOLD INDUSTRY: Gigantic Equipment, Massive Capital Expenditures & Rising Costs – SRSrocco Report

THE FRAGILE GOLD INDUSTRY: Gigantic Equipment, Massive Capital Expenditures & Rising Costs – SRSrocco Report | Gold and What Moves it. | Scoop.it
The gold industry has been built on the leveraging of debt and energy. The days of using human and animal labor to produce the precious yellow metal are long gone. While some gold is still mined the old fashion way, the overwhelming majority is produced by using colossal-sized mining equipment, massive amounts of capital, energy, and materials. Thus, the global gold supply comes via a very complex industry with a lot of moving parts. When one of these critical parts are in short supply or removed, then the entire gold supply system disintegrates. ...
 
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Looming Catastrophe Hanging Over Our Heads – Paul Craig Roberts | Greg Hunter's USAWatchdog

Looming Catastrophe Hanging Over Our Heads – Paul Craig Roberts | Greg Hunter's USAWatchdog | Gold and What Moves it. | Scoop.it

By Greg Hunter’s USAWatchdog.com


Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, says the record highs you see in the stock markets are based on “phony profits” that come from global central banks “propping up” the financial system. Roberts says, “Any of these central banks are really only there for a handful of big banks. That’s all they are concerned with. All the Federal Reserve has been concerned with for the last decade is the welfare of a handful of mega banks. Of course, the banks are too large. They should have never been allowed to get that large. When you have a bank too big to fail, then your policy has failed. You’ve allowed too much concentration. Where is anti-trust? Where is the Sherman Act? Everything that was legislated in the past to prevent the kind of looming catastrophe that is hanging over our heads, this looming catastrophe is produced by central banks. They are perpetuating it because they don’t know how to get out of it.”

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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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Click through for the full post. This site continues to be a must read every week.
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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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