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3 precious metal truths and their implications - Mills - Mineweb

3 precious metal truths and their implications - Mills - Mineweb | Gold and What Moves it. | Scoop.it

... Gold and silver are money, are the only true money. Today what is called money - fiat - is not money, it’s credit brought into existence by a computer key stroke ...

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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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Your Banking Future And The Big Brother Fed

Your Banking Future And The Big Brother Fed | Gold and What Moves it. | Scoop.it
Manhattan, 2040: Alice wants to open an antiques store. Chelsea seems like a good location. She has to find 150 square meters to move the items that she has collected over the years, and to go on a tour of flea markets in Eastern Europe, her area of expertise. She needs to finance the imports. The problem? She doesn’t have enough money to get started.

She goes into her interface in the Federal Reserve and chooses the “print money for personal and economic growth” option. She answers a series of questions that appear on the screen, defining her business sector, presenting  projected costs, and building a draft business plan.

From here, the central bank will make  calculations based on all of her personal and financial details (she owns a small apartment and is financially stable). Statistical analyses of her financial history show that she is reliable and careful. Data on the risks tied to Alice’s business idea will be integrated with data on the needs of the economy and its potential areas of growth, along with other information the bank has.
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Bill Fleckenstein - I Don't See Any Way Possible This Can End Without A Collapse - King World News

Bill Fleckenstein - I Don't See Any Way Possible This Can End Without A Collapse - King World News | Gold and What Moves it. | Scoop.it

A 'Puke' Of Epic Proportions And Why This Will End In Collapse

Bill Fleckenstein:  “If you look at the action in the precious metals, the miners and commodities, you could make a pretty good argument that this has been a ‘puke’ of epic proportions — the sorts of things that happen at the ends of bear markets.  It’s a pretty interesting moment for the precious metals markets.  The number of anti-gold news stories and the end zone dancing by the bears has gotten extreme.

And I think the stock market rally is on borrowed time.  I’m not a big believer in the bull case for the dollar either.  So I think the next 2 – 6 months are going to be very interesting.  I just don’t see any way possible that this period can end without a collapse because I don’t think the liquidity is there to accommodate very many sellers. ...

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Richard Russell - This Grand Experiment Will End In Disaster - King World News

Richard Russell - This Grand Experiment Will End In Disaster - King World News | Gold and What Moves it. | Scoop.it

Will China's Bear Market Envelope The World?

Richard Russell: "As subscribers know, I am rooting for the US to come out of this complex situation alive and better than ever. The Greek catastrophe is giving way to the Chinese tragedy. The Chinese stock market is falling apart. The question now is whether China’s bear market will envelope the world.

As I write an hour before the close, the US market continues to hold up. The Industrials are 600 points above the critical 17,000 level and the Transports are almost 300 points above the 8,000 level. The Nasdaq is holding above 5,000. Gold is down 1.7 to 1095.2 and silver is up 2 cents to 14.63. ...

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Now Is The Time – Fear Rises As Financial Markets All Over The Planet Start To Crash

Now Is The Time – Fear Rises As Financial Markets All Over The Planet Start To Crash | Gold and What Moves it. | Scoop.it
Can you feel the panic in the air?  CNN Money’s Fear & Greed Index measures the amount of fear in the financial world on a scale from 0 to 100.  The closer it is to zero, the higher the level of fear.  Last Monday, the index was sitting at a reading of 36.  As I write this article, it has fallen to 7.  The financial turmoil which began last week is threatening to turn into an avalanche. On Sunday night, we witnessed the second largest one day stock market collapse in China ever, and this pushed stocks all over the planet into the red.  Meanwhile, the twin blades of an emerging market currency crisis and a commodity price crash are chewing up economies that are dependent on the export of natural resources all over the globe.  For a long time, I have been warning about what would happen in the second half of 2015, and now it is here.  The following is a summary of the financial carnage that we have seen over the past 24 hours…

-On Sunday night, the Shanghai Composite Index plunged 8.5 percent. 
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The World Is Addicted to Debt

The World Is Addicted to Debt | Gold and What Moves it. | Scoop.it
Was the 2007 to 2008 financial crisis the equivalent of a foreshock — an earthquake that, at the time, seemed like the Big One until, that is, the real and substantially larger earthquake brings massively more destruction days or weeks later?

Based on what has transpired in recent years, it would certainly seem that the Global Financial Crisis was just a taste of what’s to come.

The world is more deeply indebted today than it was back then. Too-big-to-fail banks are even bigger today. And central bankers for the world’s key countries have little firepower left to confront a new financial crisis.

We are now officially on our own. Buy gold!
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Low gold prices seeing Chinese pile in again. SGE withdrawals exceeding new mined supply.

Low gold prices seeing Chinese pile in again.  SGE withdrawals exceeding new mined supply. | Gold and What Moves it. | Scoop.it

One of the big questions which the gold sector may be asking is what is the low gold price doing to Chinese demand.  Have the Chinese become disillusioned with gold given they piled in so strongly in 2013 when Shanghai Gold Exchange withdrawals for the year hit a massive record 2,181 tonnes, but the gold price has largely been on a downwards path ever since.

We had already seen the beginnings of a pick up in Chinese demand, as expressed by SGE withdrawals, when they hit well over 60 tonnes for the week ended July 10th (see Huge latest week SGE gold withdrawal figure – 62 tonnes) all at a time when seasonality suggests Chinese demand should actually be at its lowest. ...

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oftwominds-Charles Hugh Smith: Bubble, Bubble, Toil and Trouble: When Authorities Buy Assets to Prop Up Markets

oftwominds-Charles Hugh Smith: Bubble, Bubble, Toil and Trouble: When Authorities Buy Assets to Prop Up Markets | Gold and What Moves it. | Scoop.it
The Central Planners who thought that buying shares to prop up the stock bubble was an excellent fix are about to find out the true meaning of toil and trouble.
The actual line from Shakespeare's Macbeth is double, double, toil and trouble, fire burn, and cauldron bubble but for the purposes of analyzing what happens when authorities prop up market bubbles by directly buying assets, bubble, bubble, toil and trouble is also appropriate.
China's authorities seem to have chanted Shakespeare's magical incantation nonstop this year, as the Shenzhen and other Chinese stock market indices have more than doubled. This chart illustrates what the Chinese authorities were aiming for: a bubble that just keeps expanding and never pops:
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oftwominds-Charles Hugh Smith: Is the Echo Housing Bubble About to Burst?

oftwominds-Charles Hugh Smith: Is the Echo Housing Bubble About to Burst? | Gold and What Moves it. | Scoop.it
Echo bubbles aren't followed by a third bubble.
Speculative bubbles that burst are often followed by an echo bubble, as many participants continue to believe that the crash was only a temporary setback.
The U.S. housing market is experiencing a classic echo bubble. Exhibit A is the Case-Shiller Housing Index for the San Francisco region, which has surged back to levels reached at the top of the first bubble:
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Another Academic Nominated to FED. [Students rejoice. Rest of us Suffer]

Another Academic Nominated to FED. [Students rejoice. Rest of us Suffer] | Gold and What Moves it. | Scoop.it
President Obama this week nominated Kathryn Dominguez for a seat on the Federal Reserve Board. She’s a professor of public policy at the University of Michigan’s Gerald Ford School of Public Policy.
If the Senate approves her, it would add another academic to the Fed’s policy- making arm, which — as you might have noticed — hasn’t been very effective in recent years in either predicting what the economy is going to do or fixing the economy after it behaves in an unpredictable manner.
Like all professors, Dominguez has lots of books, charts and theories, I’m sure. All of those are great when standing in front of students.
The trouble is, the Fed’s actions aren’t purely academic.
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I clipped the above from another section of the Crudele's article where he talks about "The hidden truth behind quarterly earnings reports."

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Capital exodus from China reaches $800bn as crisis deepens

Capital exodus from China reaches $800bn as crisis deepens | Gold and What Moves it. | Scoop.it

China is engineering yet another mini-boom. Credit is picking up again. The Communist Party has helpfully outlawed falling equity prices.
Economic growth will almost certainly accelerate over the next few months, giving global commodity markets a brief reprieve.
Yet the underlying picture in China is going from bad to worse. Robin Brooks at Goldman Sachs estimates that capital outflows topped $224bn in the second quarter, a level "beyond anything seen historically".
The Chinese central bank (PBOC) is being forced to run down the country's foreign reserves to defend the yuan. This intervention is becoming chronic. The volume is rising. Mr Brooks calculates that the authorities sold $48bn of bonds between March and June. ...

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Gerald Celente - The Panic That's Happening Right Now Is Much Bigger Than Just The Gold Market - King World News

Gerald Celente - The Panic That's Happening Right Now Is Much Bigger Than Just The Gold Market - King World News | Gold and What Moves it. | Scoop.it
Gerald Celente:  “Because the markets are rigged.  That’s not a conspiracy theory; that’s a fact.  We already know that LIBOR and forex are both rigged and we also know there have been investigations about the rigging of the gold market.  And it’s not in the best interest of central banks, who are printing trillions of dollars of fiat money in order to prop up global equity markets, to see their currencies devalued….
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Take More Cash Out of Markets and Banks-Nomi Prins | Greg Hunter’s USAWatchdog

Take More Cash Out of Markets and Banks-Nomi Prins | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
By Greg Hunter’s USAWatchdog.com 

Best-selling author Nomi Prins says the only thing propping up the system is money printing. The tip of the iceberg was the Greek debt crisis. Prins says, “Before it happened, there was a lot of concern at the central bank level. That wasn’t really discussed very much in the press . . . but I believe behind the scenes there were a lot of fearful conversations about the financial system, not just the relationship of the euro and Greece politically, which was a part of it, but you don’t want any chips to fall off your table. Anything could open the door for a run on liquidity (cash), which is also why I talk about what individuals should do more and more now is try to preserve their own liquidity and to take more cash out of the markets or out of banks to just have on the side before this period of volatility, before we have the actual crash. This is a tenuous situation. I am afraid of things that look like a bail-in up to the level of a bail-in.”
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Enormous physical gold demand on at least three continents

Contrary to some reports of poor physical gold demand, the latest gold price falls seem to have yet again stimulated big demand on at least three continents.  It may have already led to arresting the recent price falls but can it do even better for gold?

In the US very strong gold coin sales have been reported by the US Mint.  In China the latest reported week of Shanghai Gold Exchange withdrawals were simply enormous for the time of year.  India too is reported to be seeing strong demand at the lower prices.  And in Australasia the Perth Mint has stated that it has been unable to keep up with demand.  No doubt European demand for physical gold in coin and bar form will also be running very high, although we haven’t seen any official figures to confirm this yet.  Perhaps the physical demand is at last leading to shortages of available gold and pushing prices higher again – or ...

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China's Meltdown And Contagion Now Spreading As Central Planners Prepare For Global Economic Chaos - King World News

China's Meltdown And Contagion Now Spreading As Central Planners Prepare For Global Economic Chaos - King World News | Gold and What Moves it. | Scoop.it

by Michael Pento: For the past few weeks China has been balancing its desire to keep the equity market from a complete meltdown with courting the international investment community in hope of being a dominant player in the capital and currency markets.

IMF Warns China

But recently the International Monetary Fund (IMF) warned China about its concern over limiting investors' freedom to take equity out of financial markets. These concerns were raised when the IMF met with officials to discuss the chances of including the yuan in the fund's basket of currencies, also known as Special Drawing Rights (SDR).

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India's Gold imports surge 61% to 155 tons in April-May

India's Gold imports surge 61% to 155 tons in April-May | Gold and What Moves it. | Scoop.it
India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. In 2014-15, India imported 915.54 tons of gold as against 661.71 tons in the previous financial year.
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China's Secret Gold Reserves | Bill Murphy - YouTube

- China now officially have 1,658 tonnes of gold - could they have more? ►0:44 - Gold manipulation more obvious than ever! ►3:16 - World Gold Council dismiss...
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44% of June Swiss gold exports to China bypassed Hong Kong

The importance of Hong Kong as a channel for Chinese gold imports continues to diminish with nearly half of Swiss June gold exports going direct to the mainland.

As we have noted here before, there has been an increasing trend for China to import gold directly via its mainland ports of entry rather than via Hong Kong, which makes Hong Kong to China gold export data less and less relevant.  So headlines like the recent one from Bloomberg: China’s gold buying from HK drops to lowest in a year  and the accompanying ‘analysis’, which puts it all down to lack of mainland China demand, have to be seen in context and as potentially misleading ...

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Billionaire Eric Sprott Issues One Of The Most Dire Warnings Of 2015 - King World News

Billionaire Eric Sprott Issues One Of The Most Dire Warnings Of 2015 - King World News | Gold and What Moves it. | Scoop.it
Eric Sprott:  “I don’t think there is any doubt about the world economy rolling over.  China has been the major buyer of all products and they’re not holding it together here.  They’ve experienced a market crash already, with these huge amounts of debts that the Chinese have taken.  The Chinese have created more debt than anybody.  Their debt outstanding has increased remarkably….
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Legend Who Oversees $175 Billion Warns Global Ponzi Scheme Now Showing Signs Of Coming Unraveled - King World News

Legend Who Oversees $175 Billion Warns Global Ponzi Scheme Now Showing Signs Of Coming Unraveled - King World News | Gold and What Moves it. | Scoop.it

Rob Arnott: “Commodities have crashed. Emerging-market bonds have cratered. Emerging-market stocks have had a grinding 4 1/2-year bear market. TIPS are down. High-yield bonds are down. So pretty much everything outside of mainstream stocks is flat to down over the last 30 months.

Mainstream Media Propaganda Ramps Up As The World Begins To Unravel

So when the talking heads on TV are talking about ‘New high, new high, new high. Isn’t this wonderful?,’ what they are talking about is the one and only market that is going up, which is mainstream stocks. ...

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Lassonde: A Spectacular Turn In The Gold Market Is Coming - China And India Will Be The Key - King World News

Lassonde: A Spectacular Turn In The Gold Market Is Coming - China And India Will Be The Key - King World News | Gold and What Moves it. | Scoop.it
With the price of gold and silver tumbling recently, today legendary Pierre Lassonde told King World News that a spectacular turn in the gold is coming and China and India will be the key.  Lassonde is arguably the greatest company builder in the history of the mining sector.  He is past president of Newmont Mining, former chairman of the World Gold Council and current chairman of Franco Nevada. 

Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom with our global readers during this critical period in these markets.

Pierre Lassonde:  “We are in the dog days of summer, but I believe prices are more likely to be higher in September than what we are seeing today.  However, if the U.S. dollar is going to stay on a tear, it will be very difficult for the gold market to work its way higher….
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Chinese and Indian gold price premiums on the rise.  Gold coin buyers rampant!

Retail demand in China is now jumping as it is in India, but it has still to reflect in London’s demand. The price rise in London was mainly due to a weaker dollar. But in both India and China premiums are rising with sales doubling in Hong Kong. Retail demand in these countries needs to feed through to Shanghai before we see this demand damage the ‘bear raid’.

One cannot know if the bears will continue their raids or how much gold they have to orchestrate their raids. The triggering of ‘stop loss’ protections has happened but ...

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Two Week Shanghai Gold Exchange Withdrawals Exceed All 2014 Comex Deliveries

Two Week Shanghai Gold Exchange Withdrawals Exceed All 2014 Comex Deliveries | Gold and What Moves it. | Scoop.it

The Shanghai Gold Exchange is the only major official physical gold trading market in the world.  All trades on the exchange are settled with the exchange of ownership on physical gold bullion.   Paper future contracts do not trade on the SGE.   In contrast, trading occurs on the LBMA and Comex in paper gold.  The Comex is de facto a 99.999% paper gold exchange for which the percentage metal backing the paper traded is minuscule.  The LBMA has been rapidly “catching up” to the Comex in this regard, although on a percentage basis the LBMA experiences a higher amount physical gold exchanged than the Comex.

Because of the way in which the SGE functions, gold withdrawn from the SGE measures the true demand for gold in China in a given time period.  All gold – except for the gold purchased by the Peoples Bank of China – purchased by any form of end user must pass through the SGE by law.  It is for this reason that “withdrawals” represent the most accurate measurement of demand for gold in China – except the Central Bank’s demand. ...

Hal's insight:

This is really fascinating. At some point gold's price will rise in the light of this demand. At least I think so. Sometimes it seems like we have been transported to Bizarro World where left is right and right is down and good is evil.

 

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Richard Russell - We're Living Through One Of The Greatest Coverups And Explosions Of Lies And Propaganda In History - King World News

Richard Russell - We're Living Through One Of The Greatest Coverups And Explosions Of Lies And Propaganda In History - King World News | Gold and What Moves it. | Scoop.it

Richard Russell:  "The Fed continues to deny inflation. Yet their denials are now almost a joke, with nearly every conceivable item in daily use rising in price. Furthermore, with the minimum wage rising across the nation, inflation is now starting to accelerate.

Industrials are again above the critical 18,000 level, with the Nasdaq above 5,000 again and flirting with a record high. Are the averages forecasting an economic boom ahead? The Transports continue to deny the good times. The lowly Transports are telling us that something is very wrong. The action of one average alone (Industrials) cannot forecast things to come. The Transports continue to negate the Industrials' forecasts of good times ahead. ...

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Jesse's Café Américain: Gold Daily and Silver Weekly Charts - Whatever We Say It Is

Jesse's Café Américain: Gold Daily and Silver Weekly Charts - Whatever We Say It Is | Gold and What Moves it. | Scoop.it
The recent gold and silver smack down, which was artificial and predatory selling by any measure, was also the occasion of the largest volume ever on the GDX Gold Miners Index on the NYSE.  And through continuing abuse of the financial system, more and more productive assets fall into fewer and fewer hands.  We can see this growing inequality in our society now as a corrosive influence on the republic.
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Lies, Damned Lies & The BLS Inflation Statistics

Lies, Damned Lies & The BLS Inflation Statistics | Gold and What Moves it. | Scoop.it

by Jim Quinn:

 

The government released their monthly CPI report this week. Even though it came in at an annualized rate of 3.6%, they and their mouthpieces in the corporate mainstream media dutifully downplayed the uptrend. They can’t let the plebs know the truth. That might upend their economic recovery storyline and put a crimp into their artificial free money, zero interest rate, stock market rally. If they were to admit inflation is rising, the Fed would be forced to raise rates. That is unacceptable in our rigged .01% economy. There are banker bonuses, CEO stock options, corporate stock buyback earnings per share goals and captured politician elections at stake.

The corporate MSM immediately shifted the focus to the annual CPI figure of 0.1%. That’s right. Your government keepers expect you to believe the prices you pay to live your everyday life have been essentially flat in the last year. Anyone who lives in the real world, not the BLS Bizarro world of models, seasonal adjustments, hedonic adjustments, and substitution adjustments, knows this is a lie. The original concept of CPI was to measure the true cost of maintaining a constant standard of living. It should reflect your true inflation of out of pocket costs to live a daily existence in this country. ...

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You'll need to click through for the rest of the article. It continues to amaze me that people accept the data coming out of DC and not the data coming out of their bank accounts.

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