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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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Cyprus Changed Everything, How To Safeguard Your Money

Cyprus Changed Everything, How To Safeguard Your Money | Gold and What Moves it. | Scoop.it

Below is Fitzwilson’s exclusive piece for KWN:

 

“A phrase which many of us are familiar with and often use is “Taking Money Off Of The Table”.  It is first and foremost a gambling reference, but it is generally used to describe a reduction of risk.  People have viewed “going to cash” or pulling out of the investment markets as a way to not be “invested” in order to achieve a reduction in volatility and market-related risk.  

 

It has also been seen as a way to avoid business and solvency risks specific to an issuer of various forms of stock and fixed income.  Preferred stock has been considered to be safer than straight equity.  More like a bond.  Notes and bonds were often high on the pecking order in case the issuer ran into trouble or was even being liquidated.

 

We found out with the Cyprus Crisis that taking money off of the table is no longer the safe and secure alternative to being in the investment markets ...

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Free Real Time Gold Prices widget ExactPrice by Lear Capital

Free Real Time Gold Prices widget ExactPrice by Lear Capital | Gold and What Moves it. | Scoop.it

Be a savvy investor! Stay abreast of real-time gold prices and minute by minute movements in the gold bullion market with ExactPrice. ExactPrice is FREE tool for real time precious metals pricing that can be viewed online, downloaded to your desktop, published to your website, posted to your blog, shared via your social network, and even viewed on your mobile.


http://www.learcapital.com/exactprice

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Silver Bullion Coin Sales Heading for Record Highs In 2013

Silver Bullion Coin Sales Heading for Record Highs In 2013 | Gold and What Moves it. | Scoop.it

Sales of the American Eagle silver bullion coins soared in March, continuing a trend of record breaking sales that has been in force for the past five years.

Prior to the financial crisis, sales of the one ounce American silver eagles averaged about 10 million coins per year.  The near collapse of the financial system in 2008 raised profound questions about the integrity of the financial system and the rush to precious metals was on.  Since 2008, annual sales of the American Eagle silver bullion coins have soared with average annual sales of over 31 million coins.

According to the U.S. Mint, sales of the American Eagle silver bullion coins totaled 3,356,500 ounces in March, up 32% from comparable sales of 2,542,000 ounces during March 2012.   Total sales of 14,223,000 ounces through March 31, 2013 soared by 40.3% over the comparable prior year period. ...

http://economicsignsofthetimes.blogspot.com

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Mosher: The Impact On Commodity Prices Will Be Horrific---Setting Up Potential Shortages | Bull Market Thinking

Mosher: The Impact On Commodity Prices Will Be Horrific---Setting Up Potential Shortages | Bull Market Thinking | Gold and What Moves it. | Scoop.it

Tekoa Da Silva

 

I had the opportunity this week to connect with Don Mosher of B&D Capital Partners in Vancouver. For decades Don has helped finance the junior resource exploration market, and has been a key player in raising over $120 million in venture funds over the years.

 

It was an interesting conversation as Don has recently co-founded an organization representing Canada’s venture industry, called the Venture Funding Crisis Committee (VFCC), with the aim of “improving the ability of venture companies to finance their activities.”

 

According to Don, the ability to efficiently raise capital is becoming harder and harder in Canada due to excessive regulations. The ultimate destination he explained, may be an environment of horrifically higher commodity prices and potential shortages.

 

Starting with the evolution of Canadian resource exploration, Don explained ...

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Gold bugs hoping for some Spring sunshine

Gold bugs hoping for some Spring sunshine | Gold and What Moves it. | Scoop.it
Gold continued to trade in a narrow range once again yesterday, with the April gold futures contract closing marginally lower and ending the gold trading session with a narrow spread down candle, c...
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India Gold ETF returns not so good for investors

As per the data, for those who invested in Gold Exchange Traded Funds as a hedge against inflation or to benefit from rising gold prices, the returns were not great after all.

 

NEW DELHI(BullionStreet): India's efforts to promote paper gold products such as Gold ETF's could suffer setbacks after data showed returns from these funds were not great at all for investors.

 

According to data compiled by country's National Stock Exchange (NSE), based on the last traded prices of the 13 Gold ETFs on March 28, 2013, the returns ranged from 3.25 per cent to 5.56 per cent over one year.

 

As per the data, for those who invested in Gold Exchange Traded Funds as a hedge against inflation or to benefit from rising gold prices, the returns were not great after all. ...

Hal's insight:

Go figure. Paper gold not returning a great value... Hmmm.... Paper gold... Hmmm. Yeah. That makes sense (snark alert).

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Big depositors in Cyprus to lose far more than feared

Big depositors in Cyprus to lose far more than feared | Gold and What Moves it. | Scoop.it

(Reuters) - Big depositors in Cyprus's largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday.

Under conditions expected to be announced on Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, the source told Reuters, while the rest of their deposits may never be paid back. 

 

The toughening of the terms will send a clear signal that the bailout means the end of Cyprus as a hub for offshore finance and could accelerate economic decline on the island and bring steeper job losses.

 

Officials had previously spoken of a loss to big depositors of 30 to 40 percent. ...

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Guest Post: The Cyprus Deal And The Unraveling Of Fractional-Reserve Banking | Zero Hedge

Authored by Joseph Salerno, originally posted at The Circle Bastiat blog,


The “Cyprus deal” as it has been widely referred to in the media may mark the next to last act in the the slow motion collapse of fractional-reserve banking that began with the implosion of the savings-and-loan industry in the U.S. in the late 1980s. This trend continued with the currency crises in Russia, Mexico, East Asia and Argentina in the 1990s in which fractional-reserve banking played a decisive role. The unraveling of fractional-reserve banking became visible even to the average depositor during the financial meltdown of 2008 that ignited bank runs on some of the largest and most venerable financial institutions in the world. The final collapse was only averted by the multi-trillion dollar bailout of U.S. and foreign banks by the Federal Reserve.

 

Even more than the unprecedented financial crisis of 2008, however, recent events in Cyprus may have struck the mortal blow to fractional-reserve banking. For fractional reserve banking can only exist for as long as the depositors have complete confidence that regardless of the financial woes that befall the bank entrusted with their “deposits,” they will always be able to withdraw them on demand at par in currency, the ultimate cash of any banking system. Ever since World War Two governmental deposit insurance, backed up by the money-creating powers of the central bank, was seen as ...

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The Crisis in Cyprus: When Governments Steal from Their Citizens

The Crisis in Cyprus: When Governments Steal from Their Citizens | Gold and What Moves it. | Scoop.it

by Scott Carter:

 

So you go online to check your account at Wells Fargo, Chase, Bank of America or wherever it is that you keep your funds and suddenly 40% of your money is gone. You immediately call the bank and get that message reminding you that the call may be “recorded for quality control purposes” and you think to yourself GOOD, I want witnesses!

 

The polite but breathlessly mechanized voice message goes on … Press 1 for a lost or stolen card, Press 2 for your available balance, Press 3 for pending transactions … there is no Press 4 for confiscated funds so you frantically hit “0” for “Other” and find yourself audibly yelling for a live operator only to be systematically kicked back to the “Main Menu.”

 

The sinking reality of this futile electronic exercise is that your money is gone. It has been taken in a Federal heist by your own government to bail out its inability to control itself. Such an action not only shakes your faith in the banking system but violates the sacred trust of civilized societies everywhere. Welcome to the new reality for ...

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Preparing for Inflationary Times | Jeff Clark | Safehaven.com

Preparing for Inflationary Times | Jeff Clark | Safehaven.com | Gold and What Moves it. | Scoop.it

"All this money printing, massive debt, and reckless deficit spending – and we have 2% inflation? I'm beginning to believe that either the deflationists are right, or the Fed's interventions are working." ~ Anonymous Casey Research reader

The CPI, in our view, does not accurately measure inflation, which accounts for some of the discrepancy our reader is pointing out. However, the proper definition of inflation is "an increase in the quantity of money," which we've had in spades. We've not experienced the concomitant increase in prices, which is what we're addressing in this article.

 

It's logical to assume that when you create more of something, you dilute the value of what's already in existence. That's exactly what has happened to the US dollar since the 2008 financial crisis hit. Economics 101 says this should lead to higher inflation – yet official Consumer Price Index (CPI) levels remain benign.

 

It's this unexpected development that led a reader to pen the above quote. Is the inflation argument dead? If so, does that mean gold's big run is over? It's a timely question since the current selloff in gold is largely attributed to low inflation expectations.

 

This is the first installment in our in-depth series of examining the next big catalysts for the gold price. This month we're looking at inflation. While a low CPI may be puzzling in the midst of massive, global currency abuse, there are three realities about inflation that convince us it's not only coming, but will catch an unsuspecting citizenry off guard.

 

Let's take a look at why we're convinced inflation will be one of the next big catalysts for the gold price…


Reality #1: History shows that high levels of debt and deficit spending eventually lead to inflation.

This statement makes sense on the face of it, but seminal research has been done that confirms it. A country simply cannot escape high inflation when carrying oversized debt levels and/or running massive deficits. Sooner or later, these sins catch up to you ...

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oftwominds-Charles Hugh Smith: The Ten Best Employers To Work For

oftwominds-Charles Hugh Smith: The Ten Best Employers To Work For | Gold and What Moves it. | Scoop.it

The insecurity of self-employment can generate a far more resilient life and mindset.


There are all sorts of "10 best companies to work for" lists, but I've assembled a slightly broader list: The Ten Best Employers To Work For. Without further ado, let's go to number 1:1. Yourself
Surprised? Expecting Google or Zappos? The National Security Agency? Nope, not even close. It's you--yes, you, Bucko. You're the best employer to work for. OK, on to the rest of the list: 2.  Yourself
3.  Yourself
4.  Yourself ....
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What We Are Now Seeing Is Unprecedented In World History

What We Are Now Seeing Is Unprecedented In World History | Gold and What Moves it. | Scoop.it

Today Egon von Greyerz warned King World News that the chaos we are seeing right now is unprecedented in world history.  Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, also cautioned “The confluence of these cycles will cause unimaginable turmoil in the future.”  Below is what Greyerz had to say in this remarkable interview:


Eric King:  “Clearly the banks in have reopened in Cyprus, your thoughts in the aftermath of all of this?”

 

Greyerz:  “Eric, they have opened, but the problem is still there.  Banks still don’t have enough money.  The package which has been put forward by the Troika is not going to last.  If they ever, which they might not, lift the exchange controls and restrictions on Cyprus banks, then we will see a run on the banks again....



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Strong Move To Scare Big Money Out Of “Too Big To Fail” Banks « Jim Sinclair's Mineset

Things are happening very fast. I will announce one or two meetings shortly in Toronto for both corporate and reader related Q&A.

 

It is glaringly apparent that there is a strong move on to scare big money out of the banks that are trusted by the establishment and are "Too Big to Fail." Cash has been hoarded in these banks which does the bank nor the economy any good. This initiative, like most government plans, is absolutely sure to backfire hard.

 

There are two things to do immediately:

 

1. Get your money out of the "Too Big To Fails." 
2. Increase your gold position.

 

Respectfully yours, 
Jim

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You'll need to go over to read the full post and see the link to the document that prompted Jim Sinclair to post this.

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In Daily Reckoning interview, Sprott notes central banks' deceptive accounting of gold | Gold Anti-Trust Action Committee

In Daily Reckoning interview, Sprott notes central banks' deceptive accounting of gold | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

Interviewed by Alex Cowie of The Daily Reckoning's Australian edition last week during the Mines and Money conference in Hong Kong, Sprott Asset Management Chairman Eric Sprott stressed the deceptiveness of central bank gold accounting, particularly the failure to distinguish gold in the vault from gold that has been swapped or leased into the market. This misleading accounting, Sprott says, is masking high demand for real metal around the world.

 

Sprott adds: "When Venezuela devalued by 40 percent, if the citizens had owned gold they would have lost nothing. When Iceland devalued, if the residents had owned gold they wouldn't have lost 60 percent of their money. I don't know how many more countries it takes to have these events happen to until the world finally clicks in to realising it's better to own gold than it is to have a bank deposit." ...

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Australia and China plan to trade directly in their own currencies | Gold Anti-Trust Action Committee

Australia and China plan to trade directly in their own currencies | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

A currency deal enabling the Australian dollar to be converted directly into Chinese yuan, slashing costs for thousands of businesses, is set to be the centrepiece of [Prime Minister] Julia Gillard's mission to China next weekend.

 

Australia would become the third country, after the United States and Japan, to secure such an arrangement from China, which is Australia's top trading partner, with exports and imports totalling $120 billion last financial year.

 

At present, companies doing business with China must pay the added cost of converting their Australian dollars into U.S. dollars or yen and then into yuan. ...

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Clarke and Dawe - Slight problem with the Cypriot Banking System

"Luka Busy. Advisor to the European Central Bank" Originally aired on ABC TV: 28/03/2013 http://www.mrjohnclarke.com http://www.twitter.com/mrjohnclarke http...
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I love these guys. thanks to http://economicsignsofthetimes.blogspot.com for the hat tip.

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Iran's Gold trade with Turkey back on track

According to reports, Turkey exports $120 million worth of gold in February after a self imposed moratorium in January.

 

ANKARA(BullionStreet): Circumventing all sanctions,Iran and Turkey continued their gold trade and made $120 million worth deal in February.

 

According to reports, Turkey exports $120 million worth of gold in February after a self imposed moratorium in January.

 

Analysts said acute shortage of gas prompted Turkey to resume gold exports to Iran. Turkey, Iran's biggest natural gas customer, has been paying Iran for energy imports with Turkish lira, because sanctions prevent it from paying in dollars or euros.

 

Turkey is a heavy energy user. And the country they depend upon for gas imports ...

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Currency Wars For Dummies | Zero Hedge

Currency Wars For Dummies | Zero Hedge | Gold and What Moves it. | Scoop.it
When it comes to global currency warfare, one can read countless books (all of which professing to be the definitive reference guide for a process that started in the...
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A Gold Lesson From Cyprus – Quiz to Follow | Lear Capital Blog

A Gold Lesson From Cyprus – Quiz to Follow | Lear Capital Blog | Gold and What Moves it. | Scoop.it

The virtues of gold are many.  It is a hedge against inflation and a safe haven amidst financial crises.  An asset whose unique physical properties have made it the most sought after means to store wealth in the history of the world.  And, as one famous banker put it, and you may be shocked to learn who it is;

 

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.


This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”   

 

Surely, this is the ramblings of one of those gold kooks forever predicting a collapse of the money system and an insidious attack against our wealth.  And then came Cyprus – an insidious attack against wealth ...

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The Most Dangerous & Potentially Fatal Gamble In History

The Most Dangerous & Potentially Fatal Gamble In History | Gold and What Moves it. | Scoop.it
 

Today Jim Sinclair warned King World News that what we are witnessing right now is one of the most dangerous and potentially fatal gambles in history.  Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had to say.

 

 

Eric King:  “Jim, what is your biggest takeaway at this moment in the aftermath of all of this chaos and the Cyprus banks reopening?”

 

Sinclair:  “There is a public relations campaign that is gaining momentum in the amount of articles being published by brokerage firms, commentators, and newspapers.  There is now a definite desire to communicate to the public that there may be a chink in the armor of ‘too big to fail.’  


The message is that depositors may be considered as lenders, whereby their deposits will be taken in exchange for shares in the banks or financial institutions, rather than what’s happened up to now which is their deposits have been guaranteed by the bailouts.


It’s a scare tactic, but it is having an impact because it’s growing....

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John Mauldin - Investors Ask What’s Going To Happen To Me?

John Mauldin - Investors Ask What’s Going To Happen To Me? | Gold and What Moves it. | Scoop.it

Eric King:  “John, are you still a buyer of gold every month, and what gold going forward in light of this?”

 

John Mauldin:  “I still buy gold.  It is central bank insurance.  Maybe we need to think of it as bureaucrat insurance if you are in Europe.  I mean you had a bunch of guys get together in Europe and go, ‘Well, let’s do this.  Don’t you think it’s a good idea?’  So they just ran off and they are confiscating bank deposits.


If you had gold and gold coins you are looking a lot better today.  You need some government insurance.  You need some central bank insurance.  I don’t think of gold as an investment.  I keep saying that.  I hope I never use my gold, but I still buy it every month.”

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Cyprus Banks and The End Game is a Huge Crisis-Peter Schiff

http://usawatchdog.com/why-leave-extra-money-in-a-bank-peter-schiff/ In the wake of the Cyprus banking crisis, Peter Schiff of Euro Pacific Precious Metals says, "There's no question a crisis is on its way. The end game is a huge crisis." With that in mind, Schiff says, "Why would you leave any extra money in a bank to get zero percent interest. . . . I think pull your money out, and put it into some kind of investment. . . . anything other than a piece of paper that's going to lose value." Join Greg Hunter as he goes One-on-One with money manager Peter Schiff.

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Precious Metals the Antidote to Fiat Currency Threat: International Resource Specialist Peter Krauth

Precious Metals the Antidote to Fiat Currency Threat: International Resource Specialist Peter Krauth | Gold and What Moves it. | Scoop.it

The Gold Report: Peter, playing equities is all about timing. With many resource equities trading near all-time lows, it seems like a buyer's market. Do you agree?


Peter Krauth: Central banks have been on a fiat money printing binge since 2008. In the last 18 months, that is starting to have the desired effect. The global economy seems to be healing: Demand for goods is coming back strongly, the Dow Jones Industrial Average is setting new records. But at the same time, there will be a serious price to pay with inflation. Commodities tend to benefit from inflation. This is a very good and important space that investors need to include in their portfolios.


TGR: Does that hold true across all commodities?

 

PK: The entire secular commodities bull market is not completely over. It has been going for 12 years, but the average tends to be closer to 17 years. This bull market might last 20 years or even longer, if you consider development in China and India—home to nearly one-third of the world's population—along with the rest of the developing world. These populations are improving their standards of living, growing their incomes and looking for a better lifestyle. That means someone will have to make all the stuff they will want to acquire. ...

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US lobby warns Pentagon against further dependence on Chinese rare earths | MINING.com

US lobby warns Pentagon against further dependence on Chinese rare earths | MINING.com | Gold and What Moves it. | Scoop.it

by Anthony Halley:


The Strategic Materials Advisory Council, a US lobby group, has called the Department of Defense's (DoD) decision to stockpile $120.43 million of heavy rare earth elements (HREEs) a "risky mitigation strategy" and urges "the creation and nurturing of a US-based  rare earth supply chain", reported Resource Investing News earlier today.

 

Rare earth metals are crucial to the production of a number high-tech and energy-related goods like smart phones, flat-screen TVs, drills, wind turbines, and electric cars. ...

Hal's insight:

You might think it's just someone trying to game the system that it was a lobby that made the warning, but really, this is a very serious subject. China controls a huge junk of rare earths and the world is spinning upon the need of rare earths. If you want electronics you need rare earth minerals.

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