Gold and What Moves it.
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China To Unleash The Worst Nightmare For The US

China To Unleash The Worst Nightmare For The US | Gold and What Moves it. | Scoop.it

On the heels of Washington desperately moving to buy more time to deal with its financial crisis, today Canadian legend John Ing warned King World News that China is preparing to unleash the “worst nightmare” for the United States.  Ing, who has been in the business for 43 years, also stated that the Chinese are about to make a “major move” which will enable the timetable for this “nightmare” to be greatly accelerated.


Ing:  “Washington kicking the can down the road doesn’t solve the debt problem.  Apparently this process has been so fun they are going to do it all over again, and the markets are getting pretty jaundiced about it.  But standing back, the fact is that the US debt is still escalating....

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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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Gold, silver remain foundation of freedom - Numismatic News

Gold, silver remain foundation of freedom - Numismatic News | Gold and What Moves it. | Scoop.it
In last week’s column, I described how today’s government-created circulating coins and currency do not meet all of the functions of money. Specifically, while they may serve as a temporary medium of exchange, government-created currencies do not serve the function of money as a long-term store of value.

The U.S. dollar is a perfect example of this. At the beginning of 1933, the U.S. dollar was equal in value to 0.04838 of an ounce of gold. Since then, as of early this week, the value of the dollar had fallen 98.3 percent to just 0.00081 of an ounce of gold.

This regular decline in value is actually a standard policy of the U.S. government. In the periodic meetings of the Federal Open Market Committee, the concluding announcements state a targeted depreciation rate for the U.S. dollar of 2 percent per year (which, according to government data, is a target not achieved in recent years but, in the real world, has been higher than this rate).
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The Problem with Gold-Backed Currencies

The Problem with Gold-Backed Currencies | Gold and What Moves it. | Scoop.it
Any currency is only truly "backed by gold" if it is convertible to gold.

There is something intuitively appealing about the idea of a gold-backed currency --money backed by the tangible value of gold, i.e. "the gold standard."
Instead of intrinsically worthless paper money (fiat currency), gold-backed money would have real, enduring value--it would be "hard currency", i.e. sound money, because it would be convertible to gold itself.
Many proponents of sound money identify President Nixon's ending of the U.S. dollar's gold standard in 1971 as the cause of the nation's financial decline. If our currency was still convertible to gold, the thinking goes, the system would never have allowed the vast pile of debt to accumulate.
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The Best Reasons to Buy Gold in the Age of Trump | Clint Siegner | Safehaven.com

The Best Reasons to Buy Gold in the Age of Trump | Clint Siegner | Safehaven.com | Gold and What Moves it. | Scoop.it
Notwithstanding the strong demand for gold and silver globally, buying activity in the U.S. retail market for physical bullion has fallen noticeably in the wake of Donald Trump's election victory. And retail selling in the U.S. has increased. The bullion markets have entered a new phase.
The two terms of President Obama included the aftermath of the 2008 financial crisis, zero interest rate policy from the Federal Reserve, and multiple rounds of Quantitative Easing. Reasons to buy gold and silver were plentiful. Today, the reasons to diversify into gold and silver are as strong as ever, but they're perhaps less obvious to the average retail buyer in the U.S.
Many of the people who felt deeply concerned about the direction of the nation under Barack Obama are currently more optimistic now. U.S. stock markets are moving relentlessly upward. Artificially low interest rates are sending home prices higher. Even the U.S. dollar looks decent when compared to other world currencies.
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Gold shakes off dollar strength to finish flat amid geopolitical hand-wringing

Gold shakes off dollar strength to finish flat amid geopolitical hand-wringing | Gold and What Moves it. | Scoop.it
Gold prices on Tuesday closed at break-even levels, confounding some market players as the commodity pared an earlier loss in the session, even as U.S. equities resumed their record run and the dollar strengthened.

April gold GCJ7, -0.03% slipped 20 cents, or less than 0.1%, to settle at $1,238.90 an ounce, after trading as low as $1,226.80, earlier in the session. May silver SIK7, +0.06%  also reduced an earlier decline to settle down 2.9 cents, or 0.2%, at $18.074 an ounce Tuesday.

The ICE U.S. Dollar Index DXY, -0.24% was up 0.5% at 101.4000. A stronger dollar usually provides a headwind to dollar-pegged assets, making them less attractive to buyers using other monetary units.
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Gold: The Only Certainty is Uncertainty | John Ing | Safehaven.com

Gold: The Only Certainty is Uncertainty | John Ing | Safehaven.com | Gold and What Moves it. | Scoop.it
Too much has been written what Mr. Trump can or can't do. In his first days in office he ambitiously reshaped trade, healthcare, immigration and American law. Dodd Frank is next to be scrapped. And in disturbing everyone, the only certainty is uncertainty.
Trump's "America first" policies of tax cuts, less regulations, infrastructure spending and building the Mexican wall will widen America's budgetary deficits which could usher in the second of many rate increases by the Federal Reserve. Ironically a rate increase would lead to an even stronger dollar wiping out any possible advantage for Trump's manufacturing proposals. Moreover, the multitude of conflicting Trump's proposals on tariffs would certainly boost import prices, hurting his own constituency and aggravate his trade deficits, risking a worldwide trade war. And with the dollar rising to 14 year highs despite running up considerable trade deficits, he even started a war with the dollar bulls, signaling that the dollar is too strong. Since then the dollar has fallen for seven consecutive weeks of losses.
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Gold notches highest finish in more than 3 months

Gold notches highest finish in more than 3 months | Gold and What Moves it. | Scoop.it
Gold futures scored back-to-back gains Thursday, sending prices to their highest finish in more than three months.

“The dollar is weaker, Treasury yields are down and stocks are lower,” said Michael Armbruster, principal and co-founder at Altavest. “That is a nice trifecta for gold.”

April gold GCJ7, +0.56% rose $8.50, or 0.7%, to settle at $1,241.60 an ounce after tacking on 0.6% on Wednesday. The settlement was the highest since Nov. 10, according to FactSet data.
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The Sudden Onset of Inflation

The Sudden Onset of Inflation | Gold and What Moves it. | Scoop.it

By Turd Ferguson | Wednesday, February 15, 2017 at 11:09 am 


Isn't it interesting that, all of a sudden and after eight years of supposedly flat prices and deflation fears, all the rage is "surging inflation" and this phenomena may "force the Fed to act" to raise rates again as soon as March? I don't know. Maybe there really is a sudden surge of price inflation? How would I know when I'm just a dope with a MacBook? However, I think it's fair to be more than a little skeptical..especially when it comes to the efficacy of government-created data. Is it possible to prices at both the wholesale and consumer level to suddenly surge to multi-year highs simply because Trump was elected? I'm having a hard time connecting the dots because that doesn't seem likely or possible. Instead, it's almost as if The Fed is dying to hike rates for their Banks and they're getting the data they want/need to justify their ends. To that point, check this chart that I pulled from Twitter. Note that it's another one of those FRED charts from the Fed's own database. So, help me out with this...If the purchasing power of the dollar is down 30% over the past 17 years, how is it that NOW is the first time that we're actually seeing significant MoM and YoY inflation numbers??

3
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These Are Dangerous Times - King World News

These Are Dangerous Times - King World News | Gold and What Moves it. | Scoop.it
On the heels of Janet Yellen’s testimony to Congress, bonds are falling and the dollar is moving higher.  But this is not business as usual because these are dangerous times.

Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness:  The NFIB small business optimism index held its recent sturdy gains at 105.9 for January vs 105.8 in December. It’s at the best level since December 2004. Plans to Hire rose another 2 pts to 18, the most since before the recession. After spiking by 38 pts last month, those that Expect a Better Economy fell by 2 pts as did those that Expect Higher Sales (after jumping by 20 pts). Those that said it’s a Good Time to Expand rose to the highest since 2004. Compensation plans continued to improve with it matching the best level in 15 years.
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Loving Our Servitude in America's Plantation Economy

Loving Our Servitude in America's Plantation Economy | Gold and What Moves it. | Scoop.it
The only possible output of low social capital is rising inequality.
One of the themes I've been addressing since 2008 is the neocolonial-plantation structure of the U.S. economy. The old models of colonial exploitation that optimized plantations worked by cheap imported labor (or situated in peripheral nations with plenty of cheap labor) have, beneath the surface, been adapted to advanced capitalist democracies.
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Rickards: Trump about to declare currency war

Rickards: Trump about to declare currency war | Gold and What Moves it. | Scoop.it
From Jim Rickards, Editor, Currency Wars Alert:

Six years ago in my first book, Currency Wars, I wrote, “There is nothing today that suggests the currency wars will end anytime soon.” Today, those words seem as true as ever.

A currency war is a battle, but it’s primarily economic. It’s about economic policy. The basic idea is that countries want to cheapen their currency. Now, they say they want to cheapen their currency to promote exports. Maybe it makes a Boeing more competitive internationally with Airbus.

But the real reason, the one that’s less talked about, is that countries actually want to import inflation. Take the United States for example. We have a trade deficit, not a surplus. If the dollar’s cheaper it may make our exports slightly more attractive.
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Expropriation and Impoverishment: "Capitalist" Greece and "Socialist" Venezuela

Expropriation and Impoverishment: "Capitalist" Greece and "Socialist" Venezuela | Gold and What Moves it. | Scoop.it
Neocolonial "capitalist paradise" or crony "socialist paradise": the net result is the same: expropriation and impoverishment.
Yesterday I noted that not all assets will make it through the inevitable financial re-set. ( Which Assets Are Most Likely to Survive the Inevitable "System Re-Set"?)

Those that are easy to expropriate will be expropriated, and those assets vulnerable to soaring taxes, inflation and currency devaluation will also be hollowed out.
There are two real-time examples of these dynamics we can profitably study: "capitalist" Greece and "socialist" Venezuela. Both nations have impoverished their citizenry to preserve an oligarchy and its cronies.
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The Central Banks Face Unwelcome Realities: Their Policies Boosted Wealth Inequality and Failed to Generate "Growth"

The Central Banks Face Unwelcome Realities: Their Policies Boosted Wealth Inequality and Failed to Generate "Growth" | Gold and What Moves it. | Scoop.it
Rather than be seen to be further enriching the rich, I think central banks will start closing the "free money for financiers" spigots.
Take a quick glance at these charts of the Federal Reserve balance sheet and bank credit in the U.S. Notice what happened to bank credit after the Fed "tapered" and stopped expanding its balance sheet?
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Gold-Futures Buying Yet to Start | Adam Hamilton | Safehaven.com

Gold-Futures Buying Yet to Start | Adam Hamilton | Safehaven.com | Gold and What Moves it. | Scoop.it
Gold has powered higher in a strong new upleg since the Fed's mid-December rate hike. But the core group of traders who usually fuel early-upleg gains has been missing in action in recent months. The gold-futures speculators have not done any meaningful buying since gold bottomed. This anomaly is a very-bullish omen for gold. Since these traders' buying has yet to start, they need to do lots of catch-up buying.
Since the day after the Fed's second rate hike in 10.5 years in mid-December, gold has surged 10.0% higher at best as of the middle of this week. Naturally these strong gains were really amplified by the gold miners' stocks. The leading GDX VanEck Vectors Gold Miners ETF blasted 34.6% higher over that same short span, trouncing the broad-market S&P 500's mere 1.4% gain! The gold sector is really shining.
But nevertheless it's been a strange gold upleg distorted by the markets' extreme Trumphoria. Normally new gold uplegs see a distinct three-stage buying pattern that fuels their advances. Gold's initial gains off lows are driven by futures speculators buying to cover their shorts. The resulting gold reversal and surge entices in still more futures speculators on the long side, which really accelerates gold's upside.
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Gold, Silver End at 3-1/2-Month Highs

Gold, Silver End at 3-1/2-Month Highs | Gold and What Moves it. | Scoop.it
Gold and silver futures snapped a three-session losing streak Thursday, with each scoring their best close in 3-1/2 months.
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Here’s where the next financial crisis may start

Here’s where the next financial crisis may start | Gold and What Moves it. | Scoop.it
From Bloomberg:

Lured by low interest rates, low gas prices, and a crop of seductive vehicles that are faster, smarter, and more efficient than ever before, American drivers are increasingly riding in style. Don’t be fooled by the curb appeal, though — those swanky machines are heavily leveraged.

The country’s auto debt hit a record in the fourth quarter of 2016, according to the Federal Reserve Bank of New York, when a rush of year-end car shopping pushed vehicle loans to a dubious peak of $1.16 trillion. The combination of new car smell and new credit woes stretches from Subarus in Maine to Teslas in San Francisco.
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Gold, Liberty, and the War on Cash | Zero Hedge

Gold, Liberty, and the War on Cash | Zero Hedge | Gold and What Moves it. | Scoop.it
The War on Cash is not merely continuing, it is intensifying. It began in the West, with relatively minor infringements on our right to use the currency of our own nation. The War has now shifted to India, been radically ratcheted up, and inflicted upon a population of 1.2 billion people, where 68% of transactions were conducted with cash.



Regular readers have been warned in the past about the insidious corruption of the Modi regime, when it attempted to literally steal the gold of its own people with its “gold deposit scheme” (scam). Out of the blue, this oppressive regime announced a ban on 500- and 1,000-rupee notes – which represented 86% of all currency. Now it is going even farther.
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Gold: The Protector and Creator of Jobs

Thanks to Hugo Salinas Price
Some readers may ask themselves; “What has gold to do with protecting jobs? Gold hoarders are certainly not creating jobs, and hoarding more gold will not help at all.”

Gold has everything to do with the loss of jobs in the US, and gold has everything to do with recovering jobs for the US economy.
Let me go back to the 60?s. During those years, the US and the world were on a Gold-and-Dollar Standard.

Back in the 60?s, countries were very careful about maintaining a constant monetary balance between their exports and their imports. They all wanted to be in a situation where they would export more than they imported, so that they would have increasing balances of gold or dollars in their Treasuries.
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This Is How the Status Quo Unravels: As the Pie Shrinks, Everybody Demands Their Piece Should Get Bigger

This Is How the Status Quo Unravels: As the Pie Shrinks, Everybody Demands Their Piece Should Get Bigger | Gold and What Moves it. | Scoop.it
Fragmentation, discord, discontent, class war: this is the inevitable result of a shrinking pie.
The politics of the past 70 years was all about horsetrading who got what share of the growing pie: the "pie" being cheap energy, government revenues and consumption, sales and profits.

Horsetrading over a growing pie is basically fun. There's always a little increase left for the losers, so there is a reason for everyone to cooperate in a broad political consensus.
Horsetrading over a shrinking pie is not fun. Everybody is shrilly demanding their piece of the pie should either grow or be left untouched; any cuts must come out of someone else's slice.
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Central banks are buying gold... you should, too

Central banks are buying gold... you should, too | Gold and What Moves it. | Scoop.it
By Greg Wilson, Analyst, The Palm Beach Letter:

If you can’t beat them, you might as well join them (at least for now)…

At the Daily, we’re no friends of central bankers.

Regular readers know we’ve been leading the charge against the War on Cash. And we’ve been arch opponents of their negative interest rate schemes.

But we’re fans of helping you make money… even if it means going into enemy territory.

In our ceaseless monitoring of central banks’ policies, we’ve noticed a seven-year trend they’ve tried to keep quiet from the public.

For those who follow this trend, there’s potentially a money-making opportunity…
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While Elites Played Empire, America Fell Apart

While Elites Played Empire, America Fell Apart | Gold and What Moves it. | Scoop.it
Dear Imperial America: the lifestyle you ordered is permanently out of stock.
Our extraordinary misallocation of national treasure and political power has set a banquet of consequences that few are willing to face, much less address head-on. If we had to sum up this vast misallocation, we might start by characterizing it as the result of a multitude of elites playing Empire with money borrowed from future generations.

We can start the list of extraordinary misallocations of national treasure with the Neocon's endless wars of choice. Ten years ago, estimates of the total cost of the Iraq misadventure were $3 trillion: Cost of Iraq War: $3 Trillion; Cost of Solar Plants to Power all 105 million U.S Households: $500 Billion (April 10, 2008)
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Empire Strikes Back on Trump-Catherine Austin Fitts | Greg Hunter’s USAWatchdog

Empire Strikes Back on Trump-Catherine Austin Fitts | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
By Greg Hunter’s USAWatchdog.com (Early Sunday Release) 

Investment advisor Catherine Austin Fitts says the oligarch, or establishment class, is on the attack. She calls this latest chapter in the Trump Administration “The Empire Strikes Back.”  Fitts explains, “Number one, Trump came into Washington with an agenda that would really make America great again:  tax reform, regulatory relief, infrastructure and Obama Care.  Immediately, he got bogged down in those for a variety of reasons.  If you look at Congress’s constituents, they can’t make money solving those things, particularly if it helps regular people.  So, immediately you bog down on those issues.  He’s trying to get his cabinet in place.  In the meantime, you have the Empire worried about a variety of things.  If you want to slow Donald Trump down or make sure the only thing he can get through Congress are things that are good for what I call the “piggies,” . . . the first thing you do is take out their loyal lieutenants.  You take them out and try to put space between him and his lieutenants.”
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Impediments to Growth | MishTalk

Impediments to Growth | MishTalk | Gold and What Moves it. | Scoop.it
In Hoisington’s Fouth Quarter Review (not yet posted online), Lacy Hunt takes a look at the Trump economy, policy lags, and impediments to growth. Hunt sees five major impediments, in his report. 1. Impediments to Growth: Unproductive Debt At the end of the third quarter, domestic nonfinancial debt and total debt reached $47.0 and $69.4 trillion, respectively. Neither of these figures includes a sizeable volume of vehicle and other leases that will come due in the next few years nor unfunded pension liabilities that will eventually be due. ...
 
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Global uncertainties push gold, producers to fresh highs | MINING.com

Global uncertainties push gold, producers to fresh highs | MINING.com | Gold and What Moves it. | Scoop.it
Gold prices built on last week’s gains and hit another 2.5-month high in early US trading Monday, boosting producers’ shares for the seventh consecutive day — the longest winning streak since August 2014.
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Which Assets Are Most Likely to Survive the Inevitable "System Re-Set"?

Which Assets Are Most Likely to Survive the Inevitable "System Re-Set"? | Gold and What Moves it. | Scoop.it
Your skills, knowledge and social capital will emerge unscathed on the other side of the re-set wormhole. Your financial assets held in centrally controlled institutions will not.

Longtime correspondent C.A. recently asked a question every American household should be asking: which assets are most likely to survive the "system re-set" that is now inevitable? It's a question of great import because not all assets are equal in terms of survivability in crisis, when the rules change without advance notice.
If you doubt the inevitability of a system implosion/re-set, please read Is America In A Bubble (And Can It Ever Return To "Normal")?
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JP Morgan Silver Manipulation Lawsuit Revived By Appeals Court!

JP Morgan Silver Manipulation Lawsuit Revived By Appeals Court! | Gold and What Moves it. | Scoop.it
On June 29, 2016, US District Court Judge Paul Engelmayer dismissed a lawsuit against JP Morgan Chase & Co. which alleged that the bank had engaged in extensive manipulation of the price of silver, in violation of both state and federal  antitrust laws. The plaintiffs appealed. On February 1, 2017, the US Appeals Court for the 2nd Circuit Court of Appeals held that their complaint contained sufficient factual matter, accepted as true, to state a claim to relief that is plausible on its face. This reverses the lower court and revives the lawsuit.
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