Gold and What Mov...
Follow
77.6K views | +3 today
 
Scooped by Hal
onto Gold and What Moves it.
Scoop.it!

Charles Hugh Smith: America's Four Socioeconomic Classes

Charles Hugh Smith: America's Four Socioeconomic Classes | Gold and What Moves it. | Scoop.it

A titanic political battle is brewing between the parasitic aristocracy, the dependent class and the two classes creating value with their labor.


In the conventional view, America's socioeconomic classes are divided by income and wealth into various layers of Wealthy, Middle Class and Poor.
If we extend the analysis presented in Why Employment in the U.S. Isn't Coming Back (January 29, 2013) and Why Employment Is Dead in the Water (January 28, 2013), we get an entirely different framework that breaks naturally into four classes:
1. Parasitic financial Aristocracy (creates no value, skims national surplus)2. High value creation (employed, heavily taxed)3. Low value creation (employed/informal economy, lightly taxed)4. No value creation (unemployed, dependent)
Hal's insight:

Click through for the rest of his post.

more...
No comment yet.

From around the web

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!

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.

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

“That Couldn’t Possibly Be True”: The Startling Truth About the US Dollar

“That Couldn’t Possibly Be True”: The Startling Truth About the US Dollar | Gold and What Moves it. | Scoop.it

For years I had heard people talking about “the fraud of the Federal Reserve.” But I was busy trying to survive and the dollars I was paid with bought food at the grocery store, so I didn’t give those reports a great deal of attention.

The more I began to study economics, however, the more I understood that this was an essential issue: that if I didn’t understand the foundation, I’d never really understand what was built upon it. So, little by little, I began to pay attention to the question, “Where do dollars come from?”

One of my first discoveries was that almost no one knew anything about this. Shocking though it may seem, they don’t teach this in general economics programs. I’ve had econ grads from well-respected programs come to me and say, “I’m kind of embarrassed to ask, but they never taught it to us in school: Where do dollars come from?”

“No, That Can’t Be True”
That’s what I said when I first understood where dollars came from. I said, “No way. That couldn’t be what it is.”

Unfortunately, I was wrong; it really is this way.

The secret to understanding the creation of dollars and of the operation of the Fed lies in two quotes from economist John Kenneth Galbraith:

The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it.

The process by which banks create money is so simple that the mind is repelled.

I must give the Fed credit for one thing: it has admitted to what it does. A publication called Modern Money Mechanics identifies how the Fed creates dollars. It cloaks that admission in unnecessarily difficult accounting and a convoluted discussion (confirming the first Galbraith quote), but still, it does admit it. ...

Hal's insight:

Click through for the full post.

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

HK January gold exports to China confirm strong demand - Mineweb

HK January gold exports to China confirm strong demand - Mineweb | Gold and What Moves it. | Scoop.it
The latest figures for net gold exports from Hong Kong into China confirm the latter nation’s strong demand in the run up to the Chinese New Year holiday. The figure for January was 76 tonnes, up from 71 tonnes in December, but it should be realised that this Hong Kong figure relates specifically to Chinese gold imports – not total demand – and then only to a diminishing proportion of the Asian dragon’s total gold imports.  If one views known export levels from the U.S. and Switzerland, where official statistics differentiate between gold going to Hong Kong and to mainland China direct, then the percentage moving in via Hong Kong is perhaps only 60% of total Chinese gold imports – still significant, but well below earlier years when Hong Kong will have accounted for perhaps 90% or more of total Chinese gold imports and was thus used as a proxy by Western analysts for the total figure – a pattern which continues today in much mainstream media coverage of Chinese gold import figures.  Last year China relaxed import controls to allow far more direct shipments via other ports of entry – notably Shanghai and Beijing which has reduced the amounts routed through Hong Kong.
more...
No comment yet.
Scooped by Hal
Scoop.it!

A Peek at the Markets @Grandich

A Peek at the Markets @Grandich | Gold and What Moves it. | Scoop.it
Gold – Despite an onslaught of bear attacks and the usual hate commentaries in the media, it continues to build a massive base that should allow much higher prices in the second half of the year.
Hal's insight:

Click over for the rest of his notes on other markets.

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

The Disease – Deflation And A World Drowning In Debt - @KingWorldNews

The Disease – Deflation And A World Drowning In Debt - @KingWorldNews | Gold and What Moves it. | Scoop.it

The Disease – Deflation And A World Drowing [sic] In Debt

Richard Russell:  "The world’s balance sheet is heavily skewed toward debt and loans. On the asset side of the balance sheet we have gold and silver currencies.

The Cure That Will Shock The World – Reset Gold Price To $5,000 or $10,000! ...

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

Kick-The-Can Has Morphed Into A Blatant Farce

Kick-The-Can Has Morphed Into A Blatant Farce | Gold and What Moves it. | Scoop.it
Kick-the-can has morphed into a blatant farce. Everywhere in the world central banks and financial officialdom are engaging in desperate, juvenile maneuvers to buy time—–amounting to hardly a few weeks at a go. Never before has the debt-saturated, speculation-ridden global casino rested upon such a precarious foundation.

This week, for instance, Janet Yellen will again waste two days of Congressional hearings in forked-tongue equivocations about an absolutely stupid issue. Namely, the exact date when money market interest rates will be permitted to blip upward from the zero bound by even 25 basis points.

But this “lift-off” drama is flat-out surreal. How could it possibly matter whether ZIRP will have been in place by 80 months or 83 months from its inception point way back in December 2008? There is not a single household or business on main street America which will change its behavior in the slightest during the next year regardless of whether the federal funds rate is 5 bps, 30 bps or 130 bps.
more...
No comment yet.
Scooped by Hal
Scoop.it!

CHARTS: Gold vs Fed debt shows fair price today is $1,800

CHARTS: Gold vs Fed debt shows fair price today is $1,800 | Gold and What Moves it. | Scoop.it

by Frik Els:

 

On Tuesday the gold price continued to lose ground as money rotates into riskier assets like stocks. In thin volumes on the Comex division of the New York Mercantile Exchange, gold futures for April delivery ended the day at $1,1999.30 an ounce, down slightly from Monday's close after earlier slumping to near its lowest for the year at $1,190.60.

While the gold price struggles equity markets continue to reach new highs. London's FTSE-100 hit an all-time record on Tuesday, while US stock markets did the same after comments from Chair Janet Yellen reassured investors about the timing of rate hikes.

California-based investment site Gold Eagle interviewed noted gold market commentator Nick Barisheff who provided some insights into the disconnect between the economy and capital markets and between paper and hard assets. ...

more...
Roberto Presotto's curator insight, February 25, 6:43 PM

Lo spread tra bond e stock-market suggeriscono un ritracciamento degli indici nel breve periodo. 

Scooped by Hal
Scoop.it!

Gold UPDATE: The latest from one of the world’s most important markets

Gold UPDATE: The latest from one of the world’s most important markets | Gold and What Moves it. | Scoop.it
From Dave Forest at Pierce Points:

India’s gold import market is becoming a weekly subject. With developments coming fast out of the world’s top gold-consuming nation.

We got another key decision [last] week. With regulators making one of the biggest moves in months in terms of loosening rules for bringing bullion into the country.

On Wednesday, the Reserve Bank of India said it is lifting a ban on the import of gold coins by banks. Financial institutions will now be free to bring in as much gold as desired, in the form of coins and medallions.

Such shipments had been frozen since last year. And the opening of this import channel could thus provide a major lift to gold buying in the country.
more...
No comment yet.
Scooped by Hal
Scoop.it!

50-Year Veteran - Greek Deal Is BS And People In Greece Are Pissed Off - King World News

50-Year Veteran - Greek Deal Is BS And People In Greece Are Pissed Off - King World News | Gold and What Moves it. | Scoop.it

John Embry:  “As far as I’m concerned there is virtually no legitimate price discovery in any market of substance.

Essentially the central banks are monetizing the debt markets, and in doing so they have created the largest bubble in world history….

Hal's insight:

Click through for the rest.

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

Global Cooling Alert: Brazil Headed For Worst Economy Since 1930-1931

Global Cooling Alert: Brazil Headed For Worst Economy Since 1930-1931 | Gold and What Moves it. | Scoop.it
By Paul Kiernan and Rogerio Jelmayer at The Wall Street Journal

For all the debt crises, hyperinflation and boom-and-bust cycles Brazil’s economy has suffered in recent decades, the country hasn’t posted two consecutive years of contraction since the Great Depression.

But if 2014’s fourth quarter was as bad as many economists think and their expectations for this year hold true, Brazil will repeat that feat for the first time since 1930-31.

On Monday, economists polled weekly by Brazil’s central bank downgraded their consensus 2015 forecast to a 0.5% fall in gross domestic product.

And the central bank’s preliminary indicator this month revealed a 0.12% drop in economic activity in 2014, though the Brazilian Institute of Geography and Statistics won’t release official GDP figures for the year until next month.
Hal's insight:

Click through for the full post.

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

U.S. DoJ and CFTC Open Gold Rigging Investigations

U.S. DoJ and CFTC Open Gold Rigging Investigations | Gold and What Moves it. | Scoop.it
Though these "investigations" will very likely lead to nothing but delays, obfuscation and cover-ups...just as the 5-year, CFTC silver "investigation" did...this evening's news is interesting, nonetheless.

The news item itself is from the Wall Street Journal. If you have an online subscription, you can read it here: http://www.wsj.com/articles/big-banks-face-scrutiny-over-pricing-of-metals-1424744801

This report was then encapsulated by a site called "Financial Mines" and you can find their reporting here: http://blog.ctnews.com/financialmines/2015/02/23/report-doj-mines-metal-manipulation/

And of course, as you might expect, the most comprehensive summary of the story comes from ZeroHedge: http://www.zerohedge.com/news/2015-02-23/ten-banks-including-jpm-goldman-deutsche-barclays-socgen-and-ubs-probed-gold-rigging

Apparently, this is a dual investigation. Gumshoes and flatfoots from the U.S. Department of Justice are scrutinizing the price-setting process for the precious metals in London while the contemptibly corrupt CFTC has opened an investigation here in the U.S. Whether or not either of these probes eventually leads to civil and/or criminal penalties remains to be seen but, given the past performance of these agencies, I don't think that anyone should get their hopes up.
Hal's insight:

Click through for the full post.

 

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

Paul Craig Roberts - Governments And Media Lying To People As Elites Enslave Humanity - King World News

Paul Craig Roberts - Governments And Media Lying To People As Elites Enslave Humanity - King World News | Gold and What Moves it. | Scoop.it
Real Median Household Incomes Declining

Real median household income has not grown for years and is below the levels of the early 1970s.
more...
No comment yet.
Scooped by Hal
Scoop.it!

Jesse's Café Américain: Gold Daily and Silver Weekly Charts - Further Into the Wilderness of Arrogant Illusion and Greed

Jesse's Café Américain: Gold Daily and Silver Weekly Charts - Further Into the Wilderness of Arrogant Illusion and Greed | Gold and What Moves it. | Scoop.it
The big news this afternoon was that the EU has reached a tentative debt settlement with Greece. And stocks took off, and gold and silver were smacked down.

As the news continued to come out, it appears that the Eurozone and Greece have agreed to a four month extension of the loan agreement, with some modifications, provided Greece can provide an 'acceptable' action plan by Monday evening.

There is some serious room for wobbles in this. The Greek parliament must agree to whatever action plan that the current government develops, and all eyes will be on the rollbacks of austerity.

The major concession it appears the Eurozone made was the relaxation of the virtually unachievable requirement for a 4.5% budget surplus that had been imposed on Greece, known as the Arbeit Macht Frei austerity program. 
more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold Getting Support from Rising Physical Demand and Euro QE

Gold Getting Support from Rising Physical Demand and Euro QE | Gold and What Moves it. | Scoop.it
The U.S. Comex gold futures rebounded over one percent in the past two days to $1,210.10 on Thursday while the Dollar Index also rose 0.85% and the Euro/Dollar plunged 1.25% in the same period. This week, the Euro Stoxx 50 Index jumped 2.42% while the S&P 500 Index was flat and the crude oil futures were down 4.31%. The U.S. ten-year Treasury yield fell 8bp this week to 2.03% on Thursday while the ten-year German Bund yield fell 4bp to 0.323%.
more...
No comment yet.
Scooped by Hal
Scoop.it!

China and the Dragon Tail of Marx

China and the Dragon Tail of Marx | Gold and What Moves it. | Scoop.it

The dragon tail of Marx's end-game of overcapacity and finance capital is about to shred China's fantasy that the state can micro-manage both capitalism and financialization with no contradictions or consequences.

Longtime readers know my one expertise is annoying the entire ideological spectrum in 1,000 words or less. Today is one of those days, so strap on your blood pressure monitor and prepare for full-spectrum annoyance, regardless of your ideological leanings.

Marxism is typically considered discredited outside of a few protected fiefdoms of academia which tend to engage in obscure debates over the labor theory of value and other signifiers of membership in the inner circle of deep Marxist thinkers. ...

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

Platinum Dives to 5-Year Low - American Hard Assets

Platinum Dives to 5-Year Low  - American Hard Assets | Gold and What Moves it. | Scoop.it
If we look back in time, periods of economic concern do not always translate into higher rising precious metals price.
more...
No comment yet.
Scooped by Hal
Scoop.it!

Will Asia take the gold price higher?

Julian Phillips’ latest daily commentary on what is happening in the gold and silver markets and geopolitical factors affecting the prices of gold and silver.

Ahead of London’s opening Asia made the play once again, as the gold price was lifted over $1,214 ahead of London’s opening. When we look back to last week, we saw the gold price unwilling to fall below $1,200 and that was in the absence of Chinese demand. Technical buying in the States was sufficient to hold it there, as the rest of the world was unwilling to push it down, despite the temporary resolution of the Greek bailout crisis. Now that robust demand is back in China and ahead of the Indian budget in the next week we are watching to see if Asia is simply buying at bargain prices or willing to take the gold price higher.
more...
No comment yet.
Scooped by Hal
Scoop.it!

Here's what Janet Yellen should have told Congress

Here's what Janet Yellen should have told Congress | Gold and What Moves it. | Scoop.it

by John Crudele:

 

Janet Yellen spoke to Congress again this week. She spoke and spoke. And some people even think they know what she said. Or at least, what she meant to say.

 

Federal Reserve chairmen traditionally have had a problem clearly communicating. Alan Greenspan was so vague and evasive when he was in charge of the central bank that he should have been charged with obstruction of Congress.

 

I think the reason for this lack of clarity is simple: The Fed, first and foremost, thinks Congress is a nuisance. Audit the Fed? How dare anyone in Congress even think about doing that! Those morons couldn’t possibly understand what the Fed is doing. ...

Hal's insight:

Click through for the rest.

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

Kick-The-Can Has Morphed Into A Blatant Farce

Kick-The-Can Has Morphed Into A Blatant Farce | Gold and What Moves it. | Scoop.it

by David Stockman:

 

Kick-the-can has morphed into a blatant farce. Everywhere in the world central banks and financial officialdom are engaging in desperate, juvenile maneuvers to buy time—–amounting to hardly a few weeks at a go. Never before has the debt-saturated, speculation-ridden global casino rested upon such a precarious foundation.

This week, for instance, Janet Yellen will again waste two days of Congressional hearings in forked-tongue equivocations about an absolutely stupid issue. Namely, the exact date when money market interest rates will be permitted to blip upward from the zero bound by even 25 basis points.

But this “lift-off” drama is flat-out surreal. How could it possibly matter whether ZIRP will have been in place by 80 months or 83 months from its inception point way back in December 2008? There is not a single household or business on main street America which will change its behavior in the slightest during the next year regardless of whether the federal funds rate is 5 bps, 30 bps or 130 bps. ...

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

oftwominds-Charles Hugh Smith: Why It's So Difficult to Repair Stuff: It's Made That Way

oftwominds-Charles Hugh Smith: Why It's So Difficult to Repair Stuff: It's Made That Way | Gold and What Moves it. | Scoop.it
Everything made with cheap, unreliable parts/components will break down long before the entire assembly has lost its utility.

In Here's What's Wrong with Corporate America--and the U.S. Economy (December 17, 2014), I concluded that once Corporate America books the sale, they're done with customers. Customer service after the sale (when the upfront profits are booked) is a Kafkaesque tragicomedy of Orwellian narratives: Corporate America publicly worships customer service but delivers none of the real thing. Instead, customers are abandoned in a frustrating Circle of Intermediary Hell, where phone calls are shunted elsewhere and third-party repair crews show up weeks later with the wrong information and leave broken appliances disassembled.
Hal's insight:

Click through for the full post.

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

Global Debt Biggest Risk Factor for Global Collapse

Global Debt Biggest Risk Factor for Global Collapse | Gold and What Moves it. | Scoop.it

by Scott Carter:

 

Zerohedge points out that the biggest problem facing the world today is a massive debt-to-GDP ratio that is drowning the economies of most industrialized nations. In fact, 9 countries are in debt to the tune of over 300% of their GDP!


When we put that into household terms it might not seem too alarming. After all, it is common to buy a house and a mortgage that may be 3 times your annual income. The difference here is you typically pay DOWN your mortgage and then you own a substantial capital asset at the end.

 

Governments are not paying anything down. No principle payments are being made, and no real capital goods exist at the end of this tunnel. No, it is more akin to a credit card balance being the size of your mortgage and you are unable to make more than the minimum payment. ...

Hal's insight:

Click for the rest of the post.

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

Yellen: Unemployment Rate 'Less Rosy' When You Count Part-Time, Discouraged Workers

Yellen: Unemployment Rate 'Less Rosy' When You Count Part-Time, Discouraged Workers | Gold and What Moves it. | Scoop.it
(CNSNews.com) - Federal Reserve Chair Janet Yellen said Tuesday at a Senate Banking Committee hearing that the U-6 unemployment rate--which includes people who are working part-time for economic reasons and those who are marginally attached to the labor force--“definitely shows a less rosy picture” of employment in the country.

People "marginally attached" to the labor force "are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for one work sometime in the past 12 months."

In January, according to the Bureau of Labor Statistics, the "U-3" unemployment rate, which is the one generally reported, was 5.7 percent. U-6 was 11.3 percent.
Hal's insight:

Click through for the rest.

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

Inflation or deflation... Why gold could soar either way

Inflation or deflation... Why gold could soar either way | Gold and What Moves it. | Scoop.it
From Jeff Clark, Senior Precious Metals Analyst, Casey Research:

Some of you may be aware that investment guru Harry Dent has publicly stated that gold will fall to $250-$400. He specifically predicted:

Around $700/ounce is a certainty in gold by 2015 to 2016, and $250 is a possibility well down the line by 2020–2023.

His forecast is largely based on his belief that deflation will prevail.

Governments are fighting deflation. If government stimulus fails, we will have deflation, not inflation.

And he claims that gold bugs are wrong about gold’s future price because they don’t understand how markets work.

Central bank stimulus has created a whole new set of financial asset bubbles that will have to burst. That is its consequences, not rising inflation that most gold bugs (who do understand the financial and debt crisis) warn about.

As a gold analyst who has spent every day of the last seven-plus years watching this market, I can’t let this pass. I’m sure gold will not fall to $700, much less $250-$400—not in real terms (who knows if the U.S. dollar will even exist in 2020?… Or maybe there will be new dollars with several zeros cut off).
Hal's insight:

Click through for the rest.

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

Richard Russell - A New World Currency Is On The Way But Here Is The Biggest Surprise - King World News

Richard Russell - A New World Currency Is On The Way But Here Is The Biggest Surprise - King World News | Gold and What Moves it. | Scoop.it

Richard Russell:  “On Friday the Dow closed at a new record high. But today it appeared that the market was consolidating its gains. There are two ways to operate in a bull market. When we're early in a bull market, dividends are higher and stocks are relatively cheap, we can take a large position on the thesis that losses are limited.

Proceed With Caution

However, with the market as high as it is, and dividend yields low, if we insist on playing with the bull, it makes sense to move in with a smaller position. If the market continues higher, you can add to your position. But if the market goes belly up, you’re out with a small loss. ...

Hal's insight:

Click through for the full post.

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

More technical purchases swell SPDR gold ETFs

+Julian Phillips notes more purchases into the big SPDR gold ETFs despite the weak gold price which, in turn, was not helped by a supposed short term solution to the Greek financial crisis.

There were purchases of 2.986 tonnes into the SPDR gold ETF and 0.9 of a tonne into the Gold Trust on Friday in what we see as a Technical purchase as markets continue solely under the influence of developed world markets until the second half of this week. The holdings of the SPDR gold ETF are at 771.249 tonnes and at 167.93 tonnes in the Gold Trust.  We expect current levels of the gold price and maybe lower prices to continue this week, but we believe that such prices will attract Asian demand when China is back from holiday and certainly if duties on imports of gold are lowered in the Indian budget this weekend. Until then speculators and traders eyes will be on the €: $ exchange rate for guidance on the gold price.

Hal's insight:

Click through for the rest.

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

Gold, Silver And The Year of The Goat? - American Hard Assets

Gold, Silver And The Year of The Goat?  - American Hard Assets | Gold and What Moves it. | Scoop.it
I believe there is a very good chance the way business is done will change with and as the Chinese New Year comes in. The Chinese understand the West may very well be thrown into chaos by the Greeks fracturing the Eurozone, Ukraine becoming a hot war zone, both, and or with many additions. As I have maintained over the last two years, I believe the Chinese have been accumulating gold and plan to eventually peg their currency to it. They have set up currency swaps and clearing facilities in a dozen “hubs” all over the world including Western capitals such as London, Zurich and Sydney. They have been preparing for this for several years. The Chinese have also backed Russia during her recent time of need and also signed several oil, gas, pipeline, currency, clearing and credit facility deals with them. Russia has in fact gone live with an alternative clearing system, 91 financial institutions have already joined. It is clear Russia and China are “partners” now and intend to be in the future.


I have also maintained the Chinese want to eventually see a “cash” market for physical gold and silver to actually “make” price rather than the paper markets of London and New York. The SCO has recently been opened and beginning to function in Shanghai, it is this “cash and carry” market that I believe will soon be “making” price. The Chinese fully understand the COMEX is a fraudulent casino. It is fractional reserve in nature and absolutely miniscule in relation to cash markets as to their inventory. For example, China imported 10 times the amount of gold in January as COMEX claims as available for delivery. China’s imports for just one month completely dwarf what COMEX delivers for an entire year. $10 billion or less could wipe this Western pricing mechanism clean with mere pocket change in today’s world.

Hal's insight:

Click through for the full post.

more...
No comment yet.