Gold and What Mov...
Follow
70.3K views | +0 today
Scooped by Hal
onto Gold and What Moves it.
Scoop.it!

Currency Wars – their Imperial aspect

Author of THE DEBT GENERATION

 

A quick thought about the money printing and currency wars.

 

When the current and on-going bank debt crisis began in 2007 we were told that the answer was to print up money (call it QE or ‘borrowing’ if it makes you happy) and give it to the banks. This would, we were assured, relieve the purely short-term cash and collateral shortage the banks appeared to be suffering, and once it did that the banks would be able to return to lending to the the real economy and we would all be saved. They printed. They gave it to the banks and…nothing happened.Except that it all got worse.

 

The banks got the money. But they did not lend to the real economy. Much of the cash they received, they parked straight back in the central banks where they were paid interest on it – by us.  Some was used as cash flow to pay bills. The rest, a growing amount, was used for speculation. Either by lending it to speculators or by the banks making it available to their own internal Prop. trading desk where they could speculate with it themselves.

 

Which was lovely if you were a banker but it did also mean that when the bankers needed more money and more had to be printed, there was a problem with justifying it. At first the bankers and our rulers tried to brazen it out and claimed we just hadn’t printed enough the first time, or the second, and a bit of belt tightening and a dose of ‘we’re all in it together’ cap touching and forelock tugging, as we handed our betters some more cash, would do the trick this time. Only it didn’t.

 

Then something new entered the story. Instead of being forced into talking about the failure of what they had done, our leaders began to ...

more...
No comment yet.
Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
Curated by Hal
Your new post is loading...
Your new post is loading...
Scooped by Hal
Scoop.it!

Real Time Gold Prices | Exact Price of Gold | Lear Capital

Real Time Gold Prices | Exact Price of Gold | Lear Capital | Gold and What Moves it. | Scoop.it

Get free real time gold prices updates even when you're on the move. Keep abreast of the precious metal market price with Lear Capital.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Central Bank Theater

Central Bank Theater | Gold and What Moves it. | Scoop.it

As the curtain rose on the economic stage, it revealed politicians and central bankers hand-in-hand, ready to act out a farce.

 

A June 23rd article in Bloomberg constituted the first review. It opened, “Germany has decided its gold is safe in American hands.” The gold in question is the massive German reserve that is allegedly stored at the Federal Reserve Bank of New York (NY Fed). On January 16, 2013 Germany’s central bank, the Bundesbank – or BuBa to its critics -- announced an intention to repatriate a sizable portion of its gold from the NY Fed by 2020. But, now, the government's budget spokesman Norbert Barthle declared, “The Americans are taking good care of our gold. Objectively, there’s absolutely no reason for mistrust.”

 

Objectively, there's no reason for trust. The repatriation was requested precisely because popular opposition leaders areconvinced the NY vaults are either deficient or empty. The German people agree with the opposition and they loudly demanded to see the proof. Moreover, the German government itself has displayed a deep distrust of America. For example, Germany recently declined to renew its contract with the telecom giant Verizon. Tobias Plate, a spokesman for the German Interior Ministry, explained, "There are indications that Verizon is legally required to provide certain things to the NSA." Specifically, the government suspects Verizon will monitor the communications of top officials in the same manner that Chancellor Angela Merkel was “intercepted” by the NSA. ...

Hal's insight:

Click through for the rest of the article. Good read.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold retailers wind down installment schemes in India - Mineweb.com

Gold retailers wind down installment schemes in India - Mineweb.com | Gold and What Moves it. | Scoop.it

New rules cap deposits for gold retailers, and limit interest rates.


Author: Shivom Seth
Posted: Monday , 28 Jul 2014 

MUMBAI (MINEWEB) - 

 

An anxious Manisha Kamble, 34-year-old housewife from a Mumbai suburb, has been given a notice by her jeweller: encash the regular installments of money she had deposited at the retailer and buy gold jewellery.

 

Like Manisha, others who have been depositing small sums of money every month (like a recurring deposit) to make an annual purchase of gold jewellery have been left high and dry, after a recent move by the banking regulator to bring gold installment schemes under the ambit of public deposits. ...

Hal's insight:

Click through for the full article.

more...
No comment yet.
Scooped by Hal
Scoop.it!

The truth is there is not much at all on the economic horizon to warrant optimism.

The truth is there is not much at all on the economic horizon to warrant optimism. | Gold and What Moves it. | Scoop.it

By Michael Pento of Pento Portfolio Strategies

July 27 (King World News) - Forget The Propaganda, This Is What’s really Happening

 

Baseball great Yogi Berra had a saying “It's déjà vu all over again,” and every year around this time, I am reminded of those words.  As we have once again happened upon that magical time of year I call, recovery summer déjà vu.  It’s the time of year when Wall Street and Washington apologists trot out their dog and pony narrative, in an attempt to spin the actual data, proving we have finally embarked on the summer that will launch sustainable economic growth....

Hal's insight:

Click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Lear Capital: Chinese Gold Demand – Is it Really Falling? | Lear Capital Blog

Lear Capital: Chinese Gold Demand – Is it Really Falling? | Lear Capital Blog | Gold and What Moves it. | Scoop.it

Yesterday, Gold prices drifted lower on news that Chinese gold demand fell 19% over the first half of this year.  Silver prices followed as some investors question whether or not the gold and silver bull markets are still intact.  Perhaps it is time to reflect on the purpose of diversifying a portfolio with precious metals.

 

Historically, gold and silver have been used as a means to store wealth and to protect against unforeseeable financial disaster.  In pre-currency times, if crops failed, a store of gold and silver allowed a farmer to purchase what they could not grow or produce themselves.  In our modern economy, precious metals have also assumed the role of inflation hedge.  As the purchasing power of paper money falls, gold and silver help to preserve that power.

 

Indeed, smart investors agree that a diversified portfolio is necessary to protect against potential disaster.  To a person, I think smart investors would also agree that the best time to take a defensive position is before the disaster strikes when economic times are good or, at least appear to be.  If you wait for the disaster to invest, you will either miss out entirely or the protection you seek will be unaffordable. ...

Hal's insight:

Click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Jury Anger Displayed - The Public is Awake

Jury Anger Displayed - The Public is Awake | Gold and What Moves it. | Scoop.it

California Lawyer rights on the housing lending practices which helped to put the economy on the skids:

 

Understand that no economic "recovery" can EVER occur until all of this bad debt is expunged from the system.  Until this massive debt is wiped clean, the debtors will either struggle along in debt service, which means NO consumption at the Walmart, thus depriving the economy of vital money velocity and all that it entails, or they will default thus requiring write-downs, and reduction of value of QUADRILLIONS of derivative financial products that are, essentially, worthless. ...

Hal's insight:

Click through for the full article. It's a good read.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Billionaire Hugo Salinas Price - Elites Plan to Control Humanity

Billionaire Hugo Salinas Price - Elites Plan to Control Humanity | Gold and What Moves it. | Scoop.it
 

Today KWN is featuring an interview with multi-billionaire Hugo Salinas Price where he told King World News in stunning detail what he believes to be the frightening plan to “control the world” going forward.  He described this as a “very disturbing fact that is facing humanity.”  Here is how he detailed the horrifying situation in May of 2012:  “Eric, the problems we are seeing in the West are not going to be resolved in any positive way.  What we have had in the West, in recent decades, has been the welfare state.  The welfare state is, in my view, what I would call, ‘socialism light.’  We’ve had ‘socialism light’ and now we’re going to transition to full-blown socialism.” 

 

 

“This could not be paid for out of taxes -- it had to be financed.  This is what has caused the explosion of debt in the West.  The people who are in power, the elite, do not want to relinquish their power.  They plan to retain it under full-blown socialism for the populations of the West....

more...
No comment yet.
Scooped by Hal
Scoop.it!

Charles Hugh Smith: The Rot Within, Part III: Our Political Order Is Defined by Favoritism and Extortion

Charles Hugh Smith: The Rot Within, Part III: Our Political Order Is Defined by Favoritism and Extortion | Gold and What Moves it. | Scoop.it

What's the difference between the U.S. Congress and corrupt petty officials taking bribes at a Third-World border crossing? Only one of scale.

Corruption ceases to be corruption when it becomes the Status Quo; what was once recognized as corruption is seen as just another cost of doing business. Our political order is structurally corrupt: the key dynamic in every level of governance is favoritism and extortion.

Favors must be bought: those foolish enough not to spend freely on lobbyists and campaign contributions find their competitors have gained the upper hand by buying favors such as tax breaks, federal subsidies, no-bid contracts, cost-plus contracts, backroom deals, regulations that exclude competition and so on.

Politicos must extort campaign contributions from the maximum number of supplicants seeking favors to maintain their perquisites and power.

Here's how the system works ...

Hal's insight:

Click through for the rest. Worthy read.

more...
No comment yet.
Scooped by Hal
Scoop.it!

YES THE MARKETS ARE RIGGED & THEY DON'T CARE THAT YOU KNOW

Visit site for video. Worth watching.

 

Michael Lewis discusses the market with Conan O'Brien.

more...
No comment yet.
Scooped by Hal
Scoop.it!

I’m convinced that the end of #QE is going to be the grand revealer. - Pento

I’m convinced that the end of #QE is going to be the grand revealer. - Pento | Gold and What Moves it. | Scoop.it

Michael Pento tells King World News:

 

Pento:  “Inflation is a persistent and pervasive fall in the purchasing power of paper money.  It is not too many people working and producing or being productive.  That is why I believe the Fed is going to be behind the inflation curve for years to come....


Hal's insight:

Click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold & Silver Set To Make History, Art Cashin & 3 Great Charts

Gold & Silver Set To Make History, Art Cashin & 3 Great Charts | Gold and What Moves it. | Scoop.it

Today KWN is putting out a special piece which features three charts showing the roadmap to a historic move in gold, silver, and the shares.  These are the types of charts that the big banks follow closely, as well as big money and savvy professionals.  David P. out of Europe sent us the remarkable charts that all KWN readers need to see.  There is also a bonus piece included from legendary Art Cashin ...

Hal's insight:

Click through for the charts and Art Cashin's thoughts.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Jesse's Café Américain: Green Slime: The Return of Franken-Money

Jesse's Café Américain: Green Slime: The Return of Franken-Money | Gold and What Moves it. | Scoop.it
The reason that there is a 'currency war' underway globally, and why there is increasing civil and political tension domestically, is not because of an envy for the Anglo-American one percent's way of life. The reason is that the monetary system and the Western economies have gone off the rails with financialization and speculation, and there is a commensurate revulsion from it from those who are in a position to seek alternatives wherever they may. Those who cannot will be victims. This system is fragile, and will not cohere. ...
Hal's insight:

Click through for the rest and the charts.

more...
No comment yet.
Scooped by Hal
Scoop.it!

China secures Venezulan oil and gold deals, as President visits L.America

China secures Venezulan oil and gold deals, as President visits L.America | Gold and What Moves it. | Scoop.it
Chinese President Xi Jinping has signed a row of oil and mineral deals with Venezuela. The Chinese leader is on a four-country tour of Latin America aimed to increasing influence in the region.
more...
No comment yet.
Scooped by Hal
Scoop.it!

TheDailyGold Podcast: Erik Townsend - The Daily Gold

TheDailyGold Podcast: Erik Townsend - The Daily Gold | Gold and What Moves it. | Scoop.it
New guest Erik Townsend is a successful software entrepreneur who is now a hedge fund manager. Eric discusses his short-term and long-term outlook for Gold as well as the factors driving current and future trends.   Follow Erik’s work at his website.  
Hal's insight:

Click through for the audio interview.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Scotiabank, Deutsche, HSBC accused of rigging silver price

Scotiabank, Deutsche, HSBC accused of rigging silver price | Gold and What Moves it. | Scoop.it
The three banks have been accused of fixing the price of trillions of dollars worth of silver.

 

by Cecilia Jamasmie:

 

The Bank of Nova Scotia, Deutsche Bank and HSBC have been accused of fixing the price of trillions of dollars worth of silver, an allegation similar to earlier suits involving the London gold fix.

 

In a court case filed in New York's southern district Monday, investor J. Scott Nicholson filed suit against the three banks for allegedly manipulating the price of silver and in the process, making money at the expense of smaller players. ...

Hal's insight:

Click through for the full post.

more...
No comment yet.
Scooped by Hal
Scoop.it!

COMEX Swap Dealers Hedging a Massive Long Play on Silver? - Got Gold Report

COMEX Swap Dealers Hedging a Massive Long Play on Silver? - Got Gold Report | Gold and What Moves it. | Scoop.it

HOUSTON – We have just two stops to make on today’s rabbit trail, but both of them “count” and both are pretty dang important. Today we will be looking at what some are calling a “too-high, too fast” net long position in silver by Managed Money traders and then we will cover an aspect of the huge, record high short position in silver futures held by the mercenary Swap Dealers, and it’s a “keeper.” So, with no further preamble, let’s take the lesser of the two first and move on from there.

 

I am Shocked! Shocked that Managed Money Traders are So Net Long! Have you noticed some...

Hal's insight:

Click through for the rest. Hat tip to www.gata.org 

more...
No comment yet.
Scooped by Hal
Scoop.it!

Investors Must Prepare Now For Chaos & Wealth Destruction

Investors Must Prepare Now For Chaos & Wealth Destruction | Gold and What Moves it. | Scoop.it

Robert Fitzwilson writes on King World News:

 

The move away from the dollar is now in full force with the BRICs announcing their own version of the World Bank and International Monetary Fund. It remains to be seen how far away from the dollar world commerce can stray, but the desire and motive to challenge the dominance of the dollar is clear. It has also been reported that the large central bank purchases of gold might be part of the strategy for anchoring the finances of this new entity. It can only be good for gold as well as a clear indication that the reserve status of the dollar is at risk.

 

Last week showed little change in most asset classes. However, there was a sudden spike at ...

Hal's insight:

Click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

So what if there's no #gold if people are happy to take paper and electrons? | #GATA

So what if there's no #gold if people are happy to take paper and electrons? | #GATA | Gold and What Moves it. | Scoop.it

Dear Friend of GATA and Gold:

 

Gold fund manager Egon von Greyerz, interviewed today by King World News, notes that gold deposit discoveries have collapsed and that the time required for turning a deposit into a mine has lengthened. Von Greyerz argues that this foretells much higher gold prices.

 

Not necessarily. For new deposits of paper are being found all the time -- it's a renewable resource -- and there always will be an infinite supply of electrons and numbers for use in assembling bank and investment house balance statements. ...

Hal's insight:

Click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

oftwominds-Charles Hugh Smith: Are We Addicted to Failure?

oftwominds-Charles Hugh Smith: Are We Addicted to Failure? | Gold and What Moves it. | Scoop.it

Like all addicts, Central Planners are confident they can manage the monkey on their back. But this is a self-serving illusion.

Addiction is many things, but beneath its complexities it is a self-destructive expression of the desire to avoid or suppress pain. The pain might be physical or the stuff of the mind, memories or inner demons or tortured misgivings about one's choices, soul and life.

Though the self-destructive aspects of the addiction are painfully visible to observers, to the addict they represent a solution: perhaps not the ideal one or even a good one, but a solution nonetheless.

Fear plays a big part in many addictions--fear of life without the addictive salve. The ...

Hal's insight:

Click through for the rest of the article. And grab Mr. Smith's RSS feed. Always a worthy read.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Switzerland Has Exported More than 600 tons Of Gold To Asia

Switzerland Has Exported More than 600 tons Of Gold To Asia | Gold and What Moves it. | Scoop.it

With the war in the gold and silver markets heating up, today gold analyst Frank K. out of the Netherlands sent King World News two shocking charts which reveal the massive flow of gold from West to East.  The charts show gold is literally hemorrhaging from Western central bank vaults to Eastern vaults, where it will never return.


Here is what Frank K. had to say along with his 2 key charts: According to the latest figures by the Swiss Customs Administration, the country has exported a total of more than 600 tons of gold to Asia in the first half of this year....

Hal's insight:

Click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Goldman Goes Schizo On Gold: Boosts Price Target To $1200 Even As It Is "Selling It With Conviction" | Zero Hedge

Goldman Goes Schizo On Gold: Boosts Price Target To $1200 Even As It Is "Selling It With Conviction" | Zero Hedge | Gold and What Moves it. | Scoop.it
With less than 6 months to go until the end of the year, with various gold ETFs suddenly seeing the biggest buying in years, and with gold continuing to outperform most asset classes YTD, what is Goldman to do? Why follow the trend of course, and just like David Kostin had no choice but to boost his S&P 500 price target using the idiotic Fed model as a basis, so earlier today Goldman just upgraded its gold price target from $1,066 to $1,200. Probably this means that after accumulating it for the first half of the year, Goldman is finally preparing to sell the precious metal. Not so fast: because while Goldman did just raised its price target, it continues to have a Conviction Sell rating on Gold, which is its second most hated commodity after iron ore. Go figure.
Hal's insight:

Click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Tiny Gold Nanomotors Spin 10x Faster Than a Race Car Engine

Tiny Gold Nanomotors Spin 10x Faster Than a Race Car Engine | Gold and What Moves it. | Scoop.it
Nanomotors are an amazing feat of engineering: tiny gold rods less than a micrometer long, powered by ultrasonic waves to spin at crazy-fast speeds. How fast? Scientists just figured out a way to measure, and it's astonishing: 150,000 RPM, ten times faster than the fastest race car engine.
Hal's insight:

Tech is cool.

more...
No comment yet.
Scooped by Hal
Scoop.it!

oftwominds-Charles Hugh Smith: The Rot Within, Part II: Inflation Is Not "Growth"

oftwominds-Charles Hugh Smith: The Rot Within, Part II: Inflation Is Not "Growth" | Gold and What Moves it. | Scoop.it

Just as the Federal Reserve cannot directly force you to stick the needle of monetary heroin (debt) into your arm, it also can't force employers to pay employees more.

The official policy of the Central Bank (Federal Reserve)/government is: inflation is necessary for "growth," i.e. economic expansion. The unstated reason for this official support of inflation is that it's easier for borrowers to service their debts as their income inflates.

To take an extreme example: let's say a homeowner has a mortgage of $100,000, an annual wage of $40,000 and annual mortgage payments of $10,000. At 100% annual inflation in both prices and wages, the home mortgage remains fixed at $100,000, the payment remains fixed at $10,000 but his earnings double to $80,000.

Where the mortgage payment initially took 25% of his earnings, now it ...

Hal's insight:

Click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Hambro ‘Horrified’ by Tampering of London Gold Fix

Peter Hambro, chairman of gold producer Petropavlovsk Plc, said he was “horrified” by the manipulation of the London fix given its importance to the industry.
Hal's insight:

Click through for the full report. hat tip to @EdSteerGSD

more...
No comment yet.
Scooped by Hal
Scoop.it!

China signs currency swap worth 150 billion yuan with Switzerland : Jim Sinclair's Mineset

China signs currency swap worth 150 billion yuan with Switzerland : Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

(Reuters) – China signed a bilateral currency swap agreement worth 150 billion yuan ($24.17 billion) with the Swiss central bank, which can invest up to 15 billion yuan in China’s bond market.


The three-year swap, signed on Monday, will "provide liquidity support for bilateral economic and trade exchanges and help maintain financial stability," the People’s Bank of China (PBOC) said in a statement on its website, www.pbc.gov.cn.


The swap deal will provide liquidity support for development of the offshore yuan market in Switzerland and will be extended if needed, the PBOC said. ...

Hal's insight:

The march away from the Dollar continues.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold could be the future of medication delivery - Shiny Shiny

Gold could be the future of medication delivery - Shiny Shiny | Gold and What Moves it. | Scoop.it
The days of swallowing medicine and hoping it does the job are numbered. In future, precious metals will deliver drugs to a specifically targeted type of cell or part of the body. At least, that’s according to scientists from the Massachusetts Institute of Technology and EPFL, who have discovered that gold nanoparticles are able to penetrate cell membranes, meaning they ...
Hal's insight:

Click through for the rest.

more...
No comment yet.