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Hold the bubbly: Jobs report is no cause for celebration

Hold the bubbly: Jobs report is no cause for celebration | Gold and What Moves it. | Scoop.it

by John Crudele:

 

I’ll give you a second to celebrate the March employment report before I spoil the party.

 

Finished with your festivities? Good. Now put away the balloons and the noisemakers and let’s drill down into the numbers.

 

The Labor Department announced that 192,000 new jobs were created last month. That was slightly better than Wall Street had been expecting earlier this week, but below the more optimistic 200,000 to 220,000 number that the economists had settled on by Thursday.

 

The unemployment rate — which is being investigated amid charges of data falsification — remained at 6.7 percent, while experts predicted a slight drop, to 6.6 percent. (The Bureau of Labor Statistics still hasn’t mentioned the investigation, a fact in itself that will eventually have to be investigated.) ...

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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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oftwominds-Charles Hugh Smith: Central Banks: When We Succeed, We Fail

oftwominds-Charles Hugh Smith: Central Banks: When We Succeed, We Fail | Gold and What Moves it. | Scoop.it
Goosing stocks ever higher will eventually push wealth inequality to the point that it unleashes social instability.

Central banks around the world share a few simple goals:

1. Defeat deflation by sparking inflation--in the cost of goods and services, not wages.

2. Weaken the currency to boost exports and counter beggar thy neighbor devaluations by other exporting nations and trading blocs.

3. Boost the value of stocks to keep pension plans afloat and project a politically powerful message of "growth" and "prosperity."


What no central bank dares say is what happens should they manage to boost inflation, devalue their currency and continue pushing assets higher: when we succeed, we fail.
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oftwominds-Charles Hugh Smith: The Astonishing Rise of Central Bank Fear

oftwominds-Charles Hugh Smith: The Astonishing Rise of Central Bank Fear | Gold and What Moves it. | Scoop.it
Anyone who looks at central bankers speak can sense the fear behind their absurd bravado, and the dishonesty of their public confidence.

The extraordinary disconnect between soaring stock markets and stagnating real economies has been gleefully embraced by all who benefit from the disconnect:


The financial media, brokerages, investment banks, politicos who have made stocks the barometer of "prosperity" and of course the top 5% who own roughly 3/4 of the financial assets of the nation.
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Central Banks Absolutely Desperate-Dollar Terminal-Gregory Mannarino | Greg Hunter’s USAWatchdog

Central Banks Absolutely Desperate-Dollar Terminal-Gregory Mannarino | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
On the U.S. dollar, Mannarino says, “The U.S. dollar is in a terminal phase.   I don’t care what dollar’s strength is recently with regard to other currencies out there.  We have countries, specifically China and specifically Russia, who are betting against the U.S. dollar.  How do I know they are doing this?  They are acquiring huge amounts of gold with these suppressed prices.  This is what everybody needs to do as well.  Bet against the debt and become your own central bank. . . . The U.S. dollar is a dying currency.  It is in the terminal phase.  Russia understands this.  China understands this.  The only people who don’t understand this is the zombified American populous.  It’s very, very sad.  This is why shows like this are so important.  I am afraid that people like us are going to become more and more censored.”
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The Gold Market Takes its Short-term Cues from Inflation and Swiss Referendum | @SharpsPixley.com

The Gold Market Takes its Short-term Cues from Inflation and Swiss Referendum | @SharpsPixley.com | Gold and What Moves it. | Scoop.it
SharpsPixley.com aims to bring you the latest gold news, live gold prices and gold charts and will soon be an online shop for buying gold bars and gold coins.
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​Russia-China trading settlements in yuan increases 800%

​Russia-China trading settlements in yuan increases 800% | Gold and What Moves it. | Scoop.it
Settlements in yuan between China and Russia have increased ninefold in annual terms between January and September 2014, says the Chinese Ministry of Economic Development.

"The settlement in national currencies between China and Russia in bilateral trade amounted to about 2 percent in 2013. There has been a significant growth in 2014. In particular, the use of the yuan in mutual settlements increased nine times in the first nine months of 2014." TASS quotes Lin Zhi, head of the Europe and Central Asia Department of the Chinese Ministry of Economic Development.
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Global gold demand will overwhelm manipulators - INDEPENDENT VIEWPOINT - Mineweb.com Mineweb

Global gold demand will overwhelm manipulators - INDEPENDENT VIEWPOINT - Mineweb.com Mineweb | Gold and What Moves it. | Scoop.it
Author: Nathan McDonald
Posted: Friday , 21 Nov 2014
SPROTT MONEY NEWS - 

Precious metals have taken a horrible beating over the past month. They were suppressed to levels not seen since 2010. The result of this price depression was a massive increase in demand from individual investors and nations alike. 

No longer are people fooled by the paper price of precious metals. Premiums have remained relatively high through this price correction and demand has been so intense, that the US Mint was forced to cease sales of their ever-popular Silver American Eagles.

Nation states, such as China and Russia are well known for their affinity to gold and have also continued their accumulation of precious metals. Russia, which officially became the fifth largest holder of gold recently, announced that it has once again increased their gold reserves by another 150 additional tonnes in 2014. An increase of 8.4% year over year.
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oftwominds-Charles Hugh Smith: Have Central Banks Entered an Undeclared War?

oftwominds-Charles Hugh Smith: Have Central Banks Entered an Undeclared War? | Gold and What Moves it. | Scoop.it

The monetary tectonic plates are shifting, and predicting the next global financial earthquake is relatively easy.

I recently suggested that the devaluation of the yen was Japan's Monetary Pearl Harbor: a direct attack on the currencies of its major trading partners: the euro (European Union), the won (South Korea), the Australian dollar (AUD) and the U.S. dollar (USD), which affects both the U.S. and China since China's currency, the renminbi, is pegged to the USD.

Though there have been no overt (that is to say, public) counter-attacks, this may not reflect monetary peace so much as an undeclared war. Correspondent Mark G. observed that the current geopolitical backdrop is considerably more unsettled than the relatively benign global chessboard in 2008:

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Swiss Gold Initiative Leader Banned From Televised Debate

Swiss Gold Initiative Leader Banned From Televised Debate | Gold and What Moves it. | Scoop.it

Today King World News was stunned to learn that the Swiss politician who launched the Swiss Gold Initiative was actually banned from participating in the televised debate.  Luzi Stamm, who was one of the primary architects of the Swiss Gold Initiative, spoke with KWN about why he was banned from the televised debate and why “It is not possible (to continue) what’s (currently) going on in the Western world.” 

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India s Gold Bar imports surged 15% during Oct 2014: GJEPC - Shanghai Metals Market

India s Gold Bar imports surged 15% during Oct 2014: GJEPC - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
The Gems and Jewellery Export Promotion Council (GJEPC) has released the details of imports of raw materials for gems and jewellery for the month of October this year. India's Gold Bar imports surged 15% during Oct 2014: GJEPC
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The Netherlands Has Repatriated 122.5t Gold From US

The Netherlands Has Repatriated 122.5t Gold From US | Gold and What Moves it. | Scoop.it
The Dutch central bank has repatriated in utmost secret 122.5 tonnes of gold from the Federal Reserve Bank of New York (FRBNY) to its vaults in Amsterdam...
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Switzerland Net Exports 100t Of Gold In October

Switzerland Net Exports 100t Of Gold In October | Gold and What Moves it. | Scoop.it
From looking at rising SGE withdrawals and Indian import in recent months, we knew some supply had to come from Switzerland...
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Iran launches Middle East's ‘biggest' gold plant, plans to double production

Iran launches Middle East's ‘biggest' gold plant, plans to double production | Gold and What Moves it. | Scoop.it
Iran has opened a new gold processing plant, reportedly the biggest in the Middle East, hoping to double its production of precious metals. Using a unique technology, Tehran says it will now mine up to three tons of gold per year.

Iranian TV reported that the opening ceremony was attended by First Vice President Ishaq Jahangiri.

The new facility is located near one of the country's richest mines, Zareh Shuran. It is located 35 kilometers from the city of Takaab in northwest Iran, in an area where gold, silver, and mercury are extracted.
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Are You Better Off This Thanksgiving Than You Were Last Thanksgiving?

Are You Better Off This Thanksgiving Than You Were Last Thanksgiving? | Gold and What Moves it. | Scoop.it
Are you in better shape financially than you were last Thanksgiving?  If so, you should consider yourself to be very fortunate because most Americans are not.  As you chow down on turkey, stuffing and cranberry sauce this Thursday, please remember that there are millions of Americans that simply cannot afford to eat such a meal.  According to a shocking new report that was just released by the National Center on Family Homelessness, the number of homeless children in the U.S. has reached a new all-time high of 2.5 million.  And right now one out of every seven Americans rely on food banks to put food on the table.  Yes, life is very good at the moment for Americans at the top end of the income spectrum.  The stock market has been soaring and sales of homes worth at last a million dollars are up 16 percent so far this year.  But most Americans live in a very different world.  The percentage of Americans that are employed is about the same as it was during the depths of the last recession, the quality of our jobs continues to go down, the rate of homeownership in America has fallen for seven years in a row, and the cost of living is rising much faster than paychecks are.  As a result, the middle class is smaller this Thanksgiving than it was last Thanksgiving, and most Americans have seen their standards of living go down over the past year.
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The Golden Canary

The Golden Canary | Gold and What Moves it. | Scoop.it
Gold has always been viewed as a safe haven for investors when world markets are in turmoil. When the bear comes out of the cave, sell your stocks and guy gold, then sit tight until the bulls are back. That cute little system has worked for people since our nation left the gold standard back in the sixties, but it has turned gold into the proverbial canary in the coal mine. When the canary stops singing, due to unbreathable or flammable gasses building up, the miners better get out. That little system worked pretty well also… that is until the canary died in 2008 and somebody nailed him to his post and set up a recording of a canary singing in the background and told the miners to go back to work.

And they did.

So today, gold prices are allegedly manipulated. Not all the time, mind you, not so much that we notice something wrong with our canary, but just enough to contain price, just enough to keep the miners working, just enough to keep investors from panicking, selling their stocks, and jumping into gold for safety.

Currently precious metals prices are lower than the cost to mine them. Sure, miners can go to their hi-grade veins and keep running, but that is not a sustainable business model, only to be used for emergency situations. The central mass media companies, all owned by the same cabal of investors, are providing the canary songs
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The Entire World Is On The Road To A Terrifying Weimarization - Davies

The Entire World Is On The Road To A Terrifying Weimarization - Davies | Gold and What Moves it. | Scoop.it

November 24 (King World News) - The Entire World Is On The Road To A Terrifying Weimarization

Overview of “Bubbleology”

On the 12th November 2014 - some 10 years after it was launched - lander module Philae which accompanied the Rosetta spacecraft touched down on Comet 67P/Churyumov-Gerasimenko (67P) to begin extra-terrestrial scientific observations. The on-board telemetry communicated back to Earth some 28 light-minutes away revealed that the lander had bounced twice off the surface of 67P. The first bounce may have lasted two hours and over 1 kilometre and is considered the largest space bounce in history which we would put it on a par with the incredible bounces in the US and Japanese stock markets this past month!

Back here on Earth Japanese monetary policy has similarly taken a giant leap forward for mankind by conducting its own scientific experiment. On the 31st October 2014 Bank of Japan Governor Kuroda-san implemented an addition to his ‘Qualitative & Quantitative Easing’ (QQE) policy begun a year ago. The surprise event was less the timing and magnitude but the clear brazen coordination of monetary and fiscal policy using the conduit of the Japanese Government Pension Fund to implement it. The QQE drove stock markets into a frenzied rally.

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Behind the 'Golden' Curtain: Russia's Economic War with the West

Behind the 'Golden' Curtain: Russia's Economic War with the West | Gold and What Moves it. | Scoop.it

by Scott Carter:

 

While the precious metals community has been preoccupied with Asian gold demand, Russia has been quietly boosting its gold reserves to record levels. In September, Russia’s Central Bank purchased over 37 tons of gold, its largest gold grab in 15 years. In October, they bought another 35 tons as central bank governor Elvira Nabiullina reported a haul of 150 tons of gold thus far this year … compared to just 77.5 tons for all of 2013.

 

According to the World Gold Council, over half of all the gold bought by central banks in the third quarter of this year, was bought by Russia. The Soviets have tripled their gold reserves since 2005, and the massive bullion buy-up now makes them the fifth largest holder of gold in the world, surpassing both China and Switzerland. ... http://bit.ly/1FjKqkw

 

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It`s almost time to buy, not sell, gold - Mineweb.com

It`s almost time to buy, not sell, gold - Mineweb.com | Gold and What Moves it. | Scoop.it
Author: Avi Gilburt
Posted: Friday , 21 Nov 2014
MARKET WATCH - 

I do not often write about the metals on MarketWatch, but have seen too many bearish articles calling for the death to the metals, so I felt compelled to speak up. While many are now saying it is time to sell metals, I will have to disagree. The time to sell your metals was several years ago. Now is the time to start looking to buy them back.

Please allow me to start with some of my history in this market.

For those of you that remember the summer of 2011, gold was in the middle of a parabolic run, with some days seeing more than $50 gains in price. However, in my first gold article on Seeking Alpha on Aug. 22, 2011, I provided my topping target for gold, in the face of the parabolic gold run, when everyone was so certain we would be easily seeing over $2000:
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Russia still adding to gold reserves big time - Mineweb.com

Russia still adding to gold reserves big time - Mineweb.com | Gold and What Moves it. | Scoop.it
Author: Lawrence Williams
Posted: Friday , 21 Nov 2014
LONDON (MINEWEB) - 

The latest announcement from the Russian Central Bank shows that the nation is still accumulating gold at a high level. Total gold reserves according to figures compiled by Nick Laird of www.sharelynx.com have now reached 1,169 tonnes having been expanded by a further 600,000 ounces (18.7 tonnes) in October. This moves Russia further ahead of China as far as ‘official’ gold reserve figures are reported (China’s figure reported to the IMG is 1,054 tonnes which it has been for the past five years, although it is widely believed to be accumulating substantial additional gold reserves without declaring them).
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Record Silver Mining Output 'Negated' by 2014 Drop in Scrap - American Hard Assets

Record Silver Mining Output 'Negated' by 2014 Drop in Scrap - American Hard Assets | Gold and What Moves it. | Scoop.it
SILVER MINING PRODUCTION worldwide is set to reach an all-time high in 2014, according to new analysis from the market’s leading data consultancy.
This week’s Interim Silver Market Review from GFMS – a division of the Thomson Reuters newswire and data agency – says silver mining output will rise 3.5% this calendar year from 2013.
However, due to this year’s steep fall in prices, the silver market is also seeing a continued decline in ‘scrap’ flows from sales of existing above-ground holdings. So the total increase in supply to the market expected to increase by only 2.9% year-on-year.
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Was GLD Gold Moved To The Dutch Central Bank? | Investment Research Dynamics

Was GLD Gold Moved To The Dutch Central Bank? | Investment Research Dynamics | Gold and What Moves it. | Scoop.it
In a move that is much more significant and relevant than the Chinese interest rate cut news, it was revealed that Netherland's Central Bank repatriated 120
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Jesse's Café Américain: Senator Levin: Fed Enabled Banks To Elbow Way Into Commodities, Manipulate Prices

Jesse's Café Américain: Senator Levin: Fed Enabled Banks To Elbow Way Into Commodities, Manipulate Prices | Gold and What Moves it. | Scoop.it

Apparently Senator Levin is not expecting many $250,000 speaking engagements from Wall Street after he leaves the Senate.

The Wall Street Banks have NO business using their subsidized banking funds and deposits to speculate in global markets for their own accounts.

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A Critical Area To Watch In The Gold & Silver Wars

A Critical Area To Watch In The Gold & Silver Wars | Gold and What Moves it. | Scoop.it
November 21 (King World News) - Worried About Gold / Silver Action - Just Read This

Creative destruction: does an about-face for the sector lie ahead pt1

Gold stocks have failed to deliver the expected leverage to gold in recent years. It appears that mining stocks are being punished by investors for the mistakes made in previous years. Apart from cost inflation, the main reasons for this were sub-optimal capital allocation and the investment alternative offered by gold ETFs backed by bullion, but above all, the extrapolation of an ongoing upward trend in the gold price.1 In the course of the bull market, the industry used ever higher price assumptions in order to include previously unprofitable ounces into its mine plans. As a result, the life of mines was increased and production expanded.2 A large part of the expansion however consisted of high-priced ounces....
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Jesse's Café Américain: Russian Gold Reserves Continue to Expand

Jesse's Café Américain: Russian Gold Reserves Continue to Expand | Gold and What Moves it. | Scoop.it

Russia added another 600,000 oz to its reserves in October.

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Click through for the chart. Putin is looking of position. And if you think this is the actual number they packed away... well, you know.

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Banking breeds cheating for financial gain - Swiss researchers

Banking breeds cheating for financial gain - Swiss researchers | Gold and What Moves it. | Scoop.it
Society expects bank employees to be honest when entrusting them with money. However, new research involving bankers suggests they are more likely than other professionals to be dishonest if they are reminded about their professional role.

When bank employees were primed to think less about their profession and more about normal life, however, they were less inclined to dishonesty, the study by the University of Zurich reveals.

"Many scandals..have plagued the financial industry in the last decade," Ernst Fehr, a researcher at the University of Zurich who co-led the study, told Reuters. "These scandals raise the question whether the business culture in the banking industry is favoring, or at least tolerating, fraudulent or unethical behaviors."
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Unusual gold moves in Asian hours puzzle traders - Mineweb.com

Unusual gold moves in Asian hours puzzle traders - Mineweb.com | Gold and What Moves it. | Scoop.it
Author: A. Ananthalakshmi (Reuters)
Posted: Thursday , 20 Nov 2014
SINGAPORE (REUTERS)  - 

Some of the biggest price moves in gold since late October have, unusually, occurred in Asian hours and traders more accustomed to following the lead of their Western counterparts suspect a big increase in algorithmic trading may be to blame.

Sensitivity to the dollar-yen exchange rate may also help explain the moves, although some traders speculated that the timing looked suspiciously like attempts to catch Chinese traders off-guard during their lunch break.

Liquidity in Asia tends to be thin until Europe wakes up but recent weeks have been different: COMEX gold futures, the busiest gold contract in the world, have suffered sharp sell-offs in Asia, sometimes sparked by the news flow or currency moves but often for no identifiable reason.

"It is unusual for Asia to be seeing these busy trading sessions," said David Govett, head of precious metals at broker Marex Spectron in London.
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