Gold and What Moves it.
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Turk - Central Planners Are About To Completely Lose Control

Turk - Central Planners Are About To Completely Lose Control | Gold and What Moves it. | Scoop.it

Today James Turk told King World News that “... central planners have hijacked the world's monetary system,” and they are about to completely lose control.  Here is what Turk had to say:  “After a week like last week, Eric, I always ask myself what if anything am I missing?  So I spent a lot of time this weekend going through the basics, and I have concluded that the premise upon which I have been recommending the ongoing accumulation of gold and silver still holds.”


“Currencies are being mismanaged, and gold and silver are the best protections against the erosion of the purchasing power of national currencies.  Consider some of the things that happened last week.  Most commodities resisted the selling seen in the precious metals.  Crude oil was little changed on the week and near multi-month highs. 

 

The G20 meeting ended as all of them do, with rhetoric that is high-sounding but totally void of substance. Regardless what the G20 leaders say, we all know that there is an ongoing currency war being fought which started in 2008....

 


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This is what I've been noting with several others in my circles. The fundamentals have not changed at all.

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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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Something Big, Bad And Ugly Is Taking Place In The U.S. Retirement Market – SRSrocco Report

While the highly inflated value of the U.S. Retirement Market reached a new high this year, something is seriously wrong when we look behind the scenes. Of course, Americans have no idea that the U.S. Retirement Market is only a few steps from falling off the cliff, because their eyes are focused on the shiny spinning roulette wheel called the Wall Street Stock Market. Yes, everyone continues to place their bets, hoping and praying that they will win it big, so they can retire in style. Unfortunately, American gamblers at the casino have no idea that the HOUSE is out of money. The only thing remaining in their backroom vaults is a small stash of cash and a bunch of IOU’s and debts.
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Overnight Paper Attack On Gold – Why This One Was Different

Overnight Paper Attack On Gold – Why This One Was Different | Gold and What Moves it. | Scoop.it
Once again there was an overnight “flash crash” in Comex gold futures trading.  This time it occurred at 3:56 a.m. EST at one of the quietest trading periods of the roughly 23 hour electronic trading day.  India has gone sleep. The Shanghai Gold Exchange has been closed for about 90 minutes and the London markets are just beginning to function.  I guess someone decided it was a good time to unload close $500 million worth of paper gold into the Comex’s Globex electronic trading system
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Biggest Fed Flip Flop in History-Gregory Mannarino | Greg Hunter’s USAWatchdog

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

Analyst/trader Gregory Mannarino says the Federal Reserve just did an about-face on raising interest rates in a matter of weeks. Mannarino contends, “This is incredible and hard to get my head around.  This has got to be the flip-flop of all flip-flops.  At the last FOMC meeting, Janet Yellen was practically pounding the table talking about how they were going to be continuing to raise rates, that they are going to start unloading their balance sheet here, and then she does an absolute 180.  I am sitting there in real time watching it (this past week).  My face dropped, and the moment I heard this, I started buying everything I could. . . . I thought this is it.  The market is going to keep going higher. . . . The Federal Reserve has created a freaking monster.  These distortions are now going to get much worse because Janet Yellen has given these markets the green light to go record up, record up and record up.”
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Our Financial Buffers Are Thinning

Our Financial Buffers Are Thinning | Gold and What Moves it. | Scoop.it
The fragility of our financial buffers will only be revealed when they fail in the next crisis.

While buffer has a specific meaning in chemistry, I am using the word in the broad sense of a reserve resource that absorbs the initial destructive impacts of crises or system overloads. Marshland along a sea coast is a buffer against destructive storm waves, for example.
A savings account acts as a buffer against financial drawdowns or losses of income that would otherwise quickly cascade into a full-blown crisis.
Redundancy of resources can act as a buffer. If an airline maintains an aircraft in reserve, this reserve plane acts as a buffer against the disruption to the airline's scheduled flights should one of its aircraft be unexpectedly removed from service by a mechanical failure. The reserve aircraft can replace the plane that was withdrawn from service with minimal disruption.
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Gold Struggling to Stay Afloat

August Gold is struggling to hold above a 1217.50 Hidden Pivot support and would need to pop to at least 1248.30 in the next 3-5 days to get out of jeopardy. Failing that, we might expect the futures to continue down to at least 1194.40 in search of traction.
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Three Recession Indicators

Three Recession Indicators | Gold and What Moves it. | Scoop.it

The odds of a recession in the U.S. economy are rising as the list of recession indicators flashing red grows.

On the housing front, we have the annual rate of new housing starts at almost 1.1 million in May 2017. This was down 5.5% from April 2017, and down 2.4% from May 2016. The data shows that housing starts have been dropping since October 2016.

A drop in housing starts tells us that demand in the U.S. housing market is deteriorating, the result of which will eventually be a loss of construction jobs. The weakness in the new housing market could be directly related to weak consumer confidence. ...

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Jim Rickards: Why the Fed will fail once again…

Jim Rickards: Why the Fed will fail once again… | Gold and What Moves it. | Scoop.it
From Jim Rickards, Editor, Rickards’ Gold Speculator:

John Maynard Keynes once wrote, “Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”

Truer words were never spoken, although if you updated Keynes today, the quote would begin with “practical women” to take account of Fed Chair Janet Yellen. The “defunct economist” in question would be William Phillips, inventor of the Phillips curve, who died in 1975.

In its simplest form, the Phillips curve is a single-equation model that describes an inverse relationship between inflation and unemployment. As unemployment declines, inflation goes up, and vice versa. The equation was put forward in an academic paper in 1958 and was considered a useful guide to policy in the 1960s and early 1970s.
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If We Don't Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable

If We Don't Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable | Gold and What Moves it. | Scoop.it
Centrally issued money optimizes inequality, monopoly, cronyism, stagnation and systemic instability.
Everyone who wants to reduce wealth and income inequality with more regulations and taxes is missing the key dynamic: central banks' monopoly on creating and issuing money widens wealth inequality, as those with access to newly issued money can always outbid the rest of us to buy the engines of wealth creation.
History informs us that rising wealth and income inequality generate social disorder.

Access to low-cost credit issued by central banks creates financial and political power. Those with access to low-cost credit have a monopoly as valuable as the one to create money.
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War & Financial Calamity Two Biggest Trends – Gerald Celente | Greg Hunter’s USAWatchdog

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

Top trends forecaster Gerald Celente thinks of all the things he studies, war and financial calamity are the two biggest trends he sees. The big game changer in the geopolitical global landscape is war coming from the Middle East.  Celente explains, “It’s the war against Iran.  That’s the way we see it, and we recently did a trend alert on it.  The Iran war will be World War III.  It will also probably be the war to end all wars and a good part of civilization if it happens.  These are the Persians, and they are not going anywhere.”

Celente contends oil will be at the center of the conflict and points out, “Three years ago almost to the date, June of 2014 a barrel of oil was selling for $115, today around $45 a barrel. There is going to be economic turmoil throughout the Middle East.  I always say when all else fails, they take you to war.
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‘Everyone’s hiring again’ | Resource Clips

Mining headhunter Andrew Pollard says executive recruiting presages a wave of M&A
by Greg Klein

As an executive search firm, the Mining Recruitment Group might serve as a bellwether for the industry. Founder and self-described mining headhunter Andrew Pollard says, “I put together management teams for companies, I connect people with opportunities and opportunities with people.” In that role, he experienced the upturn well before many industry players did.

To most of them, the long-awaited resurgence arrived late last year. Pollard saw it several months earlier.


“The market came back in a huge way, at least in the hiring side, early last year when my phone started ringing a hell of a lot more,” he explains.
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This Is Why The Price Of Gold Will Be Launched Into The Stratosphere - King World News

This Is Why The Price Of Gold Will Be Launched Into The Stratosphere - King World News | Gold and What Moves it. | Scoop.it
With the next global crisis rapidly approaching, this is why the price of gold will be launched into the stratosphere.

“One simple rule to follow: Determine what is best for the government and know that is what the powers are working to make happen. Inflation is what is best for a government with enormous debt.” — Ayn Rand

Systematic Over-Indebtedness & Inflation
By Ronald-Peter Stoeferle, Incrementum AG Liechtenstein
June 20 (King World News) –The goal of every organism, every human being, and every bureaucracy is to maximize his chances of survival. To this extent, deflation constitutes an existential threat to the current monetary system that needs to be fought at all costs. To gloss over the inherent instability of the credit system, the existing credit deflation will be compensated by extremely expansive central bank policies. We think this is a tightrope walk…
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We're in a Boiling-Point Crisis of Exploitive Elites

We're in a Boiling-Point Crisis of Exploitive Elites | Gold and What Moves it. | Scoop.it
The "fixes" to the stagnation of postwar Capitalism in the 1970s were financialization, globalism, and the sustained expansion of debt--all have run out of steam.
Many of us have written about cycles in the past decade: Kondratieff economic cycles, business/credit cycles, the Strauss–Howe generational theory (an existential national crisis arises every four generations, as described in their book The Fourth Turning), and long-wave cycles of growth and decline, as described in seminal books such as The Great Wave: Price Revolutions and the Rhythm of History and War and Peace and War: The Rise and Fall of Empires.

There is another Rhythm of American History that few recognize: the economic, social and political crises sparked by exploitive Elites. There are two dynamics that drive these crises:
1. The exploitation of commoners by financial/political Elites reaches extremes that create systemic instability as commoners no longer have the means to improve their conditions.
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The Two Charts That Dictate the Future of the Economy

The Two Charts That Dictate the Future of the Economy | Gold and What Moves it. | Scoop.it
If you study these charts closely, you can only conclude that the US economy is doomed to secular stagnation and never-ending recession.

The stock market, bond yields and statistical measures of the economy can be gamed, manipulated and massaged by authorities, but the real economy cannot. This is espcially true for the core drivers of the economy, real (adjusted for inflation) household income and real disposable household income, i.e. the real income remaining after debt service (interest and principal), rent, healthcare co-payments and insurance and other essential living expenses.
If you want to predict the future of the U.S. economy, look at real household income. If real income is stagnant or declining, households cannot afford to take on more debt or pay for additional consumption.
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The Death Spiral of Financialization

The Death Spiral of Financialization | Gold and What Moves it. | Scoop.it

Each new policy destroys another level of prudent fiscal/financial discipline.

The primary driver of our economy--financialization--is in a death spiral. Financialization substitutes expansion of interest, leverage and speculation for real-world expansion of goods, services and wages.


Financial "wealth" created by leveraging more debt on a base of real-world collateral that doesn't actually produce more goods and services flows to the top of the wealth-power pyramid, driving the soaring wealth-income inequality we see everywhere in the global economy.


As this phantom wealth pours into assets such as stocks, bonds and real estate, it has pushed the value of these assets into the stratosphere, out of reach of the bottom 95% whose incomes have stagnated for the past 16 years. ...

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Earth's Economy Glorifies Waste, Exploitation, Debt, Expediency and Magical Thinking

Earth's Economy Glorifies Waste, Exploitation, Debt, Expediency and Magical Thinking | Gold and What Moves it. | Scoop.it
Humanity appears to default to magical thinking when faced with untenable situations that demand systemic change.

How would extraterrestrial anthropologists characterize Earth's dominant socio-economic system? It's not difficult to imagine their dismaying report:
"Earth's economy glorifies waste. Its economists rejoice when a product is disposed as waste and replaced with a new product. This waste is perversely labeled 'growth.'
Aimless wandering that consumes fossil fuels is likewise rejoiced as 'growth.'
The stripping of the planet's oceans for a few favored species of edible fish is also considered 'growth' as the process of destroying the ocean ecosystem generates sales of the desired seafood.
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We Do These Things Because They're Easy: Our All-Consuming Dependence on Debt

We Do These Things Because They're Easy: Our All-Consuming Dependence on Debt | Gold and What Moves it. | Scoop.it
A world in which "we do these things because they're easy" has one end-state: collapse.

On September 12, 1962, President John F. Kennedy gave a famous speech announcing the national goal of going to the moon by the end of the decade. (JFK's speech on going to the moon.) In a memorable line, Kennedy said we would pursue the many elements of the space program "not because they are easy, but because they are hard."
Our national philosophy now is "we do these things because they're easy"-- and relying on debt to pay today's expenses is at the top of the list. What's easier than tapping a line of credit to buy whatever you want or need? Nothing's easier than borrowing money, especially at super-low rates of interest.
We are now totally, completely dependent on expanding debt for the maintenance of our society and economy. Every sector of the economy--households, businesses and government--all borrow vast sums just to maintain the status quo for another year.
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Yellen’s Shocking Announcement: The US Dollar is TOAST

By Graham Summers
 
Fed Chair Janet Yellen just announced that the Fed will be kicking the $USD off a cliff.
 
She didn’t use those words, but the words she did use weren’t all that different.
 
But first a little context…
 
The fact is that the $USD has been falling steadily throughout 2017. At this time of this writing, it was down nearly 7% year to date.
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Gold, silver supplies drop - Numismatic News

Gold, silver supplies drop - Numismatic News | Gold and What Moves it. | Scoop.it
At the New York COMEX close last Friday, the spot price of gold was down about $77 (5.8 percent), and silver fell almost exactly $2 (10.8 percent) from June 30, 2016. Absent other factors, you might expect that means that the value of the U.S. dollar had appreciated since the middle of last year.

And you would be wrong. The U.S. Dollar Index last Friday was about 0.5 percent lower than a year earlier. The day before, on June 29, 2017, the Index hit its lowest level since October 2016.

Actually, this may not be a fair comparison, as the June 30, 2016, prices and indices were shortly after the British electorate shocked the world by voting for that nation to leave the European Union. Gold and silver prices were instantly up significantly, though they did not hit their 2016 peaks until after June 30.

So, what is going on with precious metals prices?

I consider that we are right now in the calm before a major storm. If you look back at history, on Sept. 3, 1929, noted economist Irving Fisher wrote in the New York Times, “Stocks have reached what looks like a permanently high plateau.” Less than two months later, the Dow Jones Industrial Average crashed.
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Market Crash Coming – Insiders Run – Lynette Zang | Greg Hunter’s USAWatchdog

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

Market analyst Lynette Zang has deep Wall Street experience and is starting to see a worse setup than just before the 2008 market meltdown. Zang explains, “The dollar is weak.  All that is dog and pony.  The real thing is they can’t stimulate the economy by growing any more debt.  The system is based on compounding debt.  So, it has to reset, and any wealth that is in the system gets reset too. . . .  They can keep the game going until confidence is lost.  Once confidence is lost, it’s over, and I do think it’s close . . . the big kahunas are sucking as much wealth out of the system as they can.”

How close are we to another market meltdown worse that 2008? Zang says, “Every week I do an insider’s trading corner, and I show you what the insiders are doing generally, and then I do an individual stock.  It’s pretty obvious . . . the insiders are getting out in droves. This is the second most expensive stock market in history.  It’s more expensive than 1929.  Also, there are no buyers on the other side of this market if a lot of people want to sell at the same time.”
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Consequence of Rigged Markets is Currency Crisis – James Howard Kunstler | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com 

Author/journalist James Howard Kunstler has been in the writing business for decades and has never seen the geopolitical and economic landscape in America look like it does today. Kunstler explains, “I have never lived through a time, and it’s obvious I have lived a long time . . .  in American history that is as crazy as this one.  The part that is the most disturbing is the people who used to be sane have now completely gone off the rails.  I am speaking of the Democratic Party.  The nonsense that is coming out of that wing of our politics has really become a reality optional political party.”
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Jim Rickards: Get ready for quantitative tightening

Jim Rickards: Get ready for quantitative tightening | Gold and What Moves it. | Scoop.it
The Federal Reserve is now setting out on a new path for quantitative tightening (QT) after nine years of unconventional quantitative (QE) easing policy. It is the evil twin of QE which was used to ease monetary conditions when interest rates were already zero.

First, it is important to examine QE and QT in a broader context of the Fed’s overall policy toolkit. Understanding the many tools the Fed has, which of them they’re using and what the impacts are will allow you to distinguish between what the Fed thinks versus what actually happens.

We have a heavily manipulated system. For years, if not decades, monetary policy has been flipping back and forth between how the economy actually works and what the Fed believes works.

QE was a policy of printing money by buying securities from primary dealers and to ease monetary conditions when interest rates were at zero. QT takes a different approach.
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Central Bank Intervention Slams Paper Gold

Central Bank Intervention Slams Paper Gold | Gold and What Moves it. | Scoop.it
This isn’t some trader’s “fat finger” accidentally overloading the sell button and pressing “sell.” This is unadulterated BIS/ECB/BoE/Fed sponsored market intervention:


At 4:01 EST, a paper gold nuclear bomb was detonated in the Comex Globex computer system. The graph above is just the August “front month” paper gold contract on the Comex. In that contract 1.49 million ozs of paper gold were dumped into the Comex electronic trading system. Zerohedge is attributing 1.88 million ozs. That would include the selling in all of the paper gold contract months.
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Fed Trying to Cripple Trump Economy-Danielle DiMartino Booth | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com

Financial expert and former top Federal Reserve insider Danielle DiMartino Booth says the latest Fed rate hike is nothing less than an attempt to make life worse for President Trump. DiMartino Booth explains, “They are trying to do the opposite of what they did a year ago because the people who occupy the White House have changed.  That’s the only feasible answer I can come up with to explain the Fed tightening into a weakening economy.  Their own metrics don’t lie.  Nonfarm payroll growth has slowed appreciably over the last 12 months, and their favorite inflation metric is back below 2%.  These are the rules they have made up, not me.  They (the Fed) are making policies against their own rules, and there has to be a reason for it.”
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What Is the Market Telling Us?

What Is the Market Telling Us? | Gold and What Moves it. | Scoop.it
The entire global economy now depends on this stripped-of-information "market" for its stability.
Ho-hum, another day, another record high in the S&P 500 (SPX). What is this market telling us? If you're long, the market is screaming "you're a genius!":


But other than that, what else is the market telling us? Is it telling us anything about the real-world economy and the open market for equities based in that real-world economy?
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Can We See a Bubble If We're Inside the Bubble?

Can We See a Bubble If We're Inside the Bubble? | Gold and What Moves it. | Scoop.it
We want this time to be different so badly, we can almost taste it.
If you visit San Francisco, you will find it difficult to walk more than a few blocks in central S.F. without encountering a major construction project. It seems that every decrepit low-rise building in the city has been razed and is being replaced with a gleaming new residential tower.
Parking lots have been ripped up and are now sprouting condos and luxury rental flats.
This boom is not overly surprising, given the centrality of San Francisco and the S.F. Bay Area in the Hipster-Techie Mental Map which I have sketched here for those who may still suffer from delusions that Washington D.C. and New York matter--(hint: they don't.)
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