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James Turk - Last Piece Now In Place To Trigger Hyperinflation

James Turk - Last Piece Now In Place To Trigger Hyperinflation | Gold and What Moves it. | Scoop.it

... “Increasing attention needs to be given to what is happening with the quantity of money, Eric.  All the money printing ordered by central planners is starting to take effect.  US dollar M1 has now been growing at double-digit rates for two years.  Over the same period M2 growth has been in the high single digits.  Even the broader measure of dollars, M3, which is calculated by ShadowStats.com, is at 4.5%, which is the highest rate of growth in more than 3½ years. 

 

Money is no different from any other good or service.  It too complies with the laws of supply and demand.  If you create money at a rate faster than the demand for it, its ‘price’ declines, which for money is its purchasing power.  With crude oil and other commodity prices like copper continuing to work their way higher, the purchasing power of dollars and other fiat currencies is being eroded.  So all of this money printing is clearly taking hold and becoming apparent.  That gold and silver prices remain in their trading ranges suggests to me that both of them have some catching up to do with the price rises we are seeing in some basic commodities.

 

What is clear is that central banks have flooded the world with QE ...

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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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Jesse's Café Américain: 34.53 Tonnes of Gold Withdrawn from the Shanghai Gold Exchange In Latest Week

Jesse's Café Américain: 34.53 Tonnes of Gold Withdrawn from the Shanghai Gold Exchange In Latest Week | Gold and What Moves it. | Scoop.it
The Comex is a rounding error compared to the global physical market for precious metals.
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Marc Faber Hates Cocktail Parties

Marc Faber Hates Cocktail Parties | Gold and What Moves it. | Scoop.it
As part of our expert advice series, we sat down with renowned Swiss investor Marc Faber and asked him what frustrating mistakes he sees investors make these days. The answer? They take stock tips from the tipsy far too seriously.


Marc Faber explained how casual conversation in social settings can contribute to investment suicide. Faber understands not only investments, but investors. The psychology of the individual investor is why most will be so vulnerable when the collapse actually comes:

 

“Most individual investors have the tendency to commit financial suicide. In other words, if they see the NASDAQ going up they may resist buying expensive stocks for a long time but in the end, they go to cocktail parties and all their neighbors say, “Today I made so much money buying this stock.” Of course at cocktail parties you have a group of people, they own different shares, all of them go down but one goes up. They’ll talk about the one that goes up. They never talk about the ones that go down. In the end, they also buy those NASDAQ stocks and the whole thing collapses.

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US Gold Bullion exports spike 83% in Q4: USGS

US Gold Bullion exports spike 83% in Q4: USGS | Gold and What Moves it. | Scoop.it
Most of the increase in bullion exports in the fourth quarter were, in descending order, to Switzerland (29,400 kg increase), Hong Kong (23,800 kg), and India (10,200 kg), which were partially offset by a 6,100 kg decrease in exports to the United Kingdom.
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World’s Biggest Wealth Fund Says Monetary Risks at Historic High

World’s Biggest Wealth Fund Says Monetary Risks at Historic High | Gold and What Moves it. | Scoop.it
For Norway’s $890 billion sovereign-wealth fund, the investment risks stemming from monetary policy have never been greater.
Like most global investors, the Oslo-based fund is trying to navigate uncharted terrain as central banks across the world push out stimulus to protect economic growth and spur inflation.
“Monetary policy does affect pricing in today’s market to such an extent that monetary policy itself has been a risk you have to watch,” Yngve Slyngstad, chief executive officer of the fund, said in an interview on Wednesday at Bloomberg’s New York headquarters. “Investors are focused more on monetary policy changes than has been generally the case, than at any time, as far as I can remember.”
The world’s biggest wealth fund, which says it faces diminished returns amid record-low bond yields, last month revealed it was seeking to profit from quantitative easing by, among other things, buying Spanish bonds. The European Central Bank embarked on its historic asset-purchase program in March, buying euro-area sovereign debt to bring down long-term rates.
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Richard Russell - Skyrocketing Gold And Silver Prices Ahead As Global Crisis Accelerates - King World News

Richard Russell - Skyrocketing Gold And Silver Prices Ahead As Global Crisis Accelerates - King World News | Gold and What Moves it. | Scoop.it

Richard Russell:  "I note that many advisors are warning of massive movements in the stock and bond markets ahead. Some are warning of a crash in the US dollar. The rising dollar has hurt US exports.

The Truth, QE4 And Silver Scarcity

My suspicions are that the government and the Fed have praised the US economy beyond reality. In due time, the truth will come out. The US economy is sadly lagging and a few observers have even suggested that the US economy is in recession. If this turns out to be true, the dollar will crash and the Fed may even turn to QE 4. It’s a dramatic situation unlike anything I’ve ever seen. Physical silver will be scarce in the coming months and is now priced below the cost of production. 

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China accepts 57 founding members for new Asian Infrastructure Investment Bank

China accepts 57 founding members for new Asian Infrastructure Investment Bank | Gold and What Moves it. | Scoop.it
BEIJING, April 15 (UPI) -- China-led Asian Infrastructure Investment Bank finalized a list of 57 founding member states on Wednesday.
The announcement came after China accepted the last group of nations that includes Sweden, Israel, Poland and South Africa, reported The South China Morning Post.

Founding members have the right to establish the rules for the bank's activities. They hold other privileges that will not be available to countries that may opt to join the bank at a later point.

The United States and Japan have abstained from joining the AIIB, but South Korea, a key U.S. ally in the region, has agreed to join as a founding member along with Australia, New Zealand, Canada, Britain, France and Germany.
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At some point you would think that the US would begin to see that the currency war is more than started.

 

Hat tip to @EdSteerGSD

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China’s New World Order Taking Shape | Uncommon Wisdom Daily

China’s New World Order Taking Shape | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it
Brad Hoppmann | March 30, 2015 at 4:22 pm

Do you remember when the United States always got its way? The rest of the world either needed us or feared us. Either way, the U.S. could count on key allies in international disputes.

Those days are fading fast, at least in economic matters. Once-solid allies are abandoning Washington’s pleas and joining China’s Asian Infrastructure Development Bank.

The world is going bipolar — which was Beijing’s plan all along.
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The Fed Never Learns-----Another Inventory Dump Is Brewing

The Fed Never Learns-----Another Inventory Dump Is Brewing | Gold and What Moves it. | Scoop.it
The fairy dust peddlers who moonlight as Wall Street economists were out in force this morning after March retail sales came in with a positive m/m change for the first time since November.  This purportedly confirms that we’re back on track for a big rebound in Q2:

Ian Shepherdson, chief economist at Pantheon Economics, said he expected stronger sales in coming months as the drop in gas prices have built up consumer cash savings.

Now how in the world does he figure that? Total retail sales in March were up a miniscule $5.5 billion or 1.3% over prior year. But then again, gasoline sales were down $10 billion, meaning that consumer spending on everything else was up by $15 billion or 4%. So consumers weren’t hoarding their money or building a cash cushion for some big shopping spree later this spring——-they were just reallocating it like they always do.
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China demand confuses gold price picture

Asian demand seems to be setting support at a little below $1200 for the gold price currently, while a potential Greek default waits in the wings.  Julian Phillips’ latest thoughts on the gold and silver markets and price drivers.
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Gold’s stealth bull market

Gold’s stealth bull market | Gold and What Moves it. | Scoop.it
Individual investors in China and India are buying physical gold in ever-growing quantities… and yet the price of gold can’t seem to get out of its own way. What gives?

The short answer would appear to be that Western investors remain fairly persistent sellers of gold, thereby suppressing the gold price. The longer answer is that no one really knows.

Gold is a mystical metal, shrouded in mystery. Stone-cold facts are hard to come by. But we can examine a smattering of observations and come up with some plausible theories.

Here’s the first observation, and it is a particularly curious one…

Since hitting its all-time high in September 2011, gold has consistently traded to the upside during Asian trading hours, but to the downside during New York and London trading hours.
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Richard Russell - Big Money Is Preparing For A Devastating Worldwide Collapse - King World News

Richard Russell - Big Money Is Preparing For A Devastating Worldwide Collapse - King World News | Gold and What Moves it. | Scoop.it
Richard Russell:  "The most important lesson in investing is never to sustain a big loss. With this in mind, I have and still do advise my subscribers to be out of all common stocks except for gold shares, and to be positioned in silver and gold bullion, holding the actual metals in a safe place. I also like the Central fund of Canada, CEF, which holds actual silver and gold in what I consider a safe place — Canada.
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The Six Too Big To Fail Banks In The U.S. Have 278 TRILLION Dollars Of Exposure To Derivatives

The Six Too Big To Fail Banks In The U.S. Have 278 TRILLION Dollars Of Exposure To Derivatives | Gold and What Moves it. | Scoop.it
The very same people that caused the last economic crisis have created a 278 TRILLION dollar derivatives time bomb that could go off at any moment.  When this absolutely colossal bubble does implode, we are going to be faced with the worst economic crash in the history of the United States.  During the last financial crisis, our politicians promised us that they would make sure that “too big to fail” would never be a problem again.  Instead, as you will see below, those banks have actually gotten far larger since then.  So now we really can’t afford for them to fail.  The six banks that I am talking about are JPMorgan Chase, Citibank, Goldman Sachs, Bank of America, Morgan Stanley and Wells Fargo.  When you add up all of their exposure to derivatives, it comes to a grand total of more than 278 trillion dollars.  But when you add up all of the assets of all six banks combined, it only comes to a grand total of about 9.8 trillion dollars.  In other words, these “too big to fail” banks have exposure to derivatives that is more than 28 times greater than their total assets.  This is complete and utter insanity, and yet nobody seems too alarmed about it.  For the moment, those banks are still making lots of money and funding the campaigns of our most prominent politicians.  Right now there is no incentive for them to stop their incredibly reckless gambling so they are just going to keep on doing it.
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What could go wrong with that position? :-/

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Chinese Gold, Silver demand to rise further in coming years: ABN AMRO - Shanghai Metals Market

ABN AMRO expects Chinese demand for gold and precious metals to rise further in the coming years, although the anti-corruption campaign may temporarily distort long-term trends. Chinese Gold, Silver demand to rise further in coming years: ABN AMRO
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India's Gold imports surge 93.86% to $4.98 bn in March

India's Gold imports surge 93.86% to $4.98 bn in March | Gold and What Moves it. | Scoop.it
India's gold imports surged by 93.86% to $4.98 billion in March as compared to $2.57 billion in the same month last year mainly due to declining prices and easing of restrictions by the RBI. Nation's silver imports also advanced about 4.5 times, from $121.4 million to $561.4 million.
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Over $100 Trillion in Wealth Will Disappear-Harry Dent | Greg Hunter’s USAWatchdog

Over $100 Trillion in Wealth Will Disappear-Harry Dent | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it

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

Best-selling author Harry Dent says the stock bubble we have today is the biggest in history.  Dent contends, “Now we’re in a third bubble, and each of these bubbles peaks at higher highs, and then they each crash to lower lows.  We’ve been looking for the Dow to peak right around here between 17,000 and 19,000.  So, we are right in the middle.  We are looking for an even bigger correction likely in late 2016 to 2017.  This whole thing has been in an artificial bubble. . . . We’d be in a depression right now if it were not for $11 trillion or $12 trillion free money printed out of nowhere.  So, this is an artificial environment, and this has never happened before.  The charts look to me that we are at a top, or after a 20% correction, a top later this year.”

Dent goes on to say, “I think the crash is finally going to start this year, but it will be at its worst in late 2016 early 2017. . . . I expect new lows on the Dow, and I think it will go to 5,500 or 6,000 in this next crash.”

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China’s Gold Holdings? Mathematics and the Market - American Hard Assets

China’s Gold Holdings? Mathematics and the Market  - American Hard Assets | Gold and What Moves it. | Scoop.it
So, why exactly does it matter how much gold China has accumulated and what are the ramifications depending what the number is?  First, if the number comes in “large” (it will), it means China “likes gold” and believes it to be a worthy monetary reserve asset.  A large number would give gold China’s “stamp of approval” so to speak.
Next, we have the “mathematics” to the equation.  If the number comes in anywhere near 10,000 tons, the natural question then becomes “where oh where did it all come from”?  This is a VERY important question because as I’ve said many times before, gold can only come from current supply and also from above ground supplies in vaults.  We know the total annual global supply (ex China and Russia) is about 2,200 tons of which China has chewed up a very large percentage over the last six years.  Total global production has been 11,000 tons over the last six years, we know India and Russia have been importers, not to mention all the other geographical demand and jewelry.  A number even close to 10,000 tons will raise the question of “how?”, how could China have accumulated this much gold if the world is not producing enough to make the math work?  In other words, if China bought virtually all of the global supply, what was used to satisfy the rest of the world’s demand?
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It's Not The Weather: Industrial Production Is Rolling Over, Yet The Fed Is Clueless About Its Own Index

It's Not The Weather: Industrial Production Is Rolling Over, Yet The Fed Is Clueless About Its Own Index | Gold and What Moves it. | Scoop.it
Another day of “incoming data” and still more evidence that this isn’t your father’s business cycle. This time it comes from the Eccles Building itself, but don’t expect the Keynesian money printers domiciled there to recognize that the industrial production report they issued today constitutes yet another rebuke to their entire macro model.

The March index slipped badly (0.6%) and thereby predictably elicited a “do not be troubled” assurance from the talking heads. It was just aberrant weather again. Well, that’s actually right. March was so much warmer  than February that the utility component of the index plunged by 5.9%.

Indeed, as another branch of the Fed revealed a few days ago, March was actually warmer than normal for the month. Presumably this means the punk economic data for March can’t be explained by winterish weather—-since it is the very opposite condition which explains last month’s steep drop in utility production.

So the better part of wisdom would be to keep the weather and its unpredictable impact on monthly power plant demand out of it. And, as it happens, the trends in the other two components of the index—–mining and manufacturing—-do offer some very pertinent clues about the dismal state of the US economy.
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Gold Price Hits 2 Year Euro High, US Fed Members Argue Over Raising Dollar Rates - Shanghai Metals Market

Author: Paul Ploumis
16 Apr 2015 Last updated at 00:54:02 GMT
 
EDGWARE (Scrap Monster): Gold price swings held in a tight $8 range around $1195 per ounce in London trade Wednesday, but for Euro investors the metal rose to halve this week's earlier 2% drop as the single currency fell following no change to the European Central Bank's policy of QE and sub-zero rates.
 
After 10,000 people protested outside the European Central Bank's new Frankfurt offices when they were officially opened last month – more than 17 years after the ECB was founded – a lone protester shouting "End the ECB dictatorship!" today interrupted president Mario Draghi's regular press conference, storming the stage and showering him with confetti.
 
The availability of emergency ECB loans to Greek banks "is entirely in the hands of the Greek government," Draghi later said in Q&A, referring to sovereign debt negotiations between the ruling Syriza Party and its EU partner states, adding that he didn't "want to contemplate [or] discuss any possible situation like" a default by Athens on its obligations. ...

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India raises import tariff value on Gold to $388/10 grams

India raises import tariff value on Gold to $388/10 grams | Gold and What Moves it. | Scoop.it
The government has further raised the import tariff value on gold to $388 per 10 grams. For silver the new import tariff value has been fixed at $524 per kilogram, lowered from $543 per kg earlier.
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Anyone else getting tired of this game?

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Will India Melt Down the Hindu God’s Gold?

Will India Melt Down the Hindu God’s Gold? | Gold and What Moves it. | Scoop.it
by Jeff Clark, Casey Research

Indian Prime Minister Narendra Modi wants to get his hands on the gold in the country’s temples—approximately 3,000 tonnes, more than two-thirds the amount held at Fort Knox—to combat the country’s chronic trade imbalance.

He plans to launch a program next month that would “encourage” temples to deposit their gold with banks, in return for interest payments. The government would then melt the gold and loan it to jewelers. The thinking is that this would reduce gold imports, and thus the trade deficit. Gold accounted for 28% of the country’s deficit last year.

If successful, gold prices could come under pressure. India represented 17% of total global gold demand last year.
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The world's biggest mining companies are getting hammered - American Hard Assets

The world's biggest mining companies are getting hammered - American Hard Assets | Gold and What Moves it. | Scoop.it
Some of the world’s biggest iron ore miners were on Tuesday placed on “credit watch negative” by Standard and Poor’s (S&P), as the price of the commodity continues to plunge amid a supply glut and soft Chinese demand.

The global ratings agency said the credit watch changes were due to a lowering of its iron ore price forecasts to US $45 per tonne for the rest of this year, to $50 for next year and $55 for 2017.
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Russia officially joins $50bn China-led infrastructure bank

Russia officially joins $50bn China-led infrastructure bank | Gold and What Moves it. | Scoop.it
On Tuesday Russia officially becomes a founder of the China-led Asian Infrastructure Investment Bank (AIIB). It means Russian companies can take part in infrastructure projects in the Asia-Pacific region, and could attract foreign investment into Russia.

Russia applied for membership as a founding member of the AIIB 2 weeks ago, along with another 52 countries. The founding members have the right to establish the rules guiding the bank’s activities. China reportedly had rejected requests from North Korea and Taiwan to join the AIIB. The final list of the bank’s founding members will be announced on April 15.

"Russia as a country belonging to the target region of the bank's operations, and is meant to play an important role in investment decisions and also attract investment funds from the bank in the interest of improving the infrastructure of Siberia and the Russian Far East. We expect that the bank will become an effective tool for strengthening transcontinental links and will contribute to Eurasian integration,” Russian Foreign Ministry spokesman Aleksandr Lukashevich said, according to RIA Novosti.
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The currency wars are really beginning to fire up.

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The US Deficit Isn't Shrinking-----Its Actually 16X Bigger Than You Think

The US Deficit Isn't Shrinking-----Its Actually 16X Bigger Than You Think | Gold and What Moves it. | Scoop.it
“The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.” ― Alexis de Tocqueville

And that is exactly what has happened in the U.S. and Europe. Politicians give away more and more entitlements in order to get elected to office … and what candidate is going to suggest CUTTING entitlements?

Brookings published a nice opinion piece entitled “The federal debt is worse than you think.” The opinion piece is based largely on Professor Laurence Kotlikoff’s U.S. Senate Testimony on the grossly misleading health of our economy.

In a nutshell, the U.S. has a $210 trillion “fiscal gap” and “may well be in worse fiscal shape than any developed country, including Greece,” according to Kotlikoff.

“The first point I want to get across is that our nation is broke,” Kotlikoff testified. “Our nation’s broke, and it’s not broke in 75 years or 50 years or 25 years or 10 years. It’s broke today.”
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oftwominds-Charles Hugh Smith: The Changing World of Work 2: Financialization = Insecurity

oftwominds-Charles Hugh Smith: The Changing World of Work 2: Financialization = Insecurity | Gold and What Moves it. | Scoop.it
Promises of wealth and security are far more contingent than is being advertised.

The Millennial Generation, if we're to believe various polls, aspires to either make boatloads of money on Wall Street, or secure a can't-be-fired job in the government. Given the dominance of finance and an economic backdrop of rising insecurity, these are rational choices.

But all those Millennials hoping to work for Goldman Sachs does raise a question:when did playing financial games become so much more profitable than producing goods and services?

And that raises another question: is the dominance of the FIRE sectors (finance, insurance, real estate) permanent or cyclical?

Let's turn to some charts for answers. The first is a look at the finance and insurance sectors' share of the gross domestic product (GDP). The sectors's share reached 4% of GDP in the stock market bubble of 1929 and the echo bubble in the mid-1930s.

It took 40 years for finance and insurance to exceed the highs of the Roaring 20s bubble.
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Euro Gold Jumps Near 2 Year High, Halves 2013 Plunge, Global Equities Jump - Shanghai Metals Market

Euro Gold Jumps Near 2 Year High, Halves 2013 Plunge, Global Equities Jump - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
Euro gold prices jumped towards their second-best weekly close in two years Friday, rising 3.9% from before Easter.
Euro Gold Jumps Near 2-Year High, Halves 2013 Plunge, Global Equities Jump
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