Gold and What Moves it.
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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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NSA/GCHQ – The New Praetorians and the New Cold War

NSA/GCHQ – The New Praetorians and the New Cold War | Gold and What Moves it. | Scoop.it
Author of THE DEBT GENERATION

 

In a democracy rule is by consent. In a dictatorship it is by control.

Which do we have in the West? It seems to me, it is no longer clear. We certainly still have the rituals of rule by consent. But behind the elected front men and women is a shadow state. It’s people ritually swear allegiance to those we elect. They declare themselves there to serve and protect. But when it is us they spend their time spying on, whose interests are they protecting? Can you really serve those you do not trust?

 

In 2008 we discovered that behind the banking system we knew about, there was a vast shadow banking system whose size most of us never suspected. In 2013 we have glimpsed not only the scale of the shadow state but the degree to which it, like the shadown banking system, is out of control and not working for us at all.

 

Of course Mr Obama and the ‘security chiefs’, brought blinking into the unwelcome light,  justify themselves by telling us that all those things they never saw fit to mention to us, or even to the people we spend so much time electing, have been saving us from un-named terrors. Are we to take such unverifiable assurances at face value from people who we know do not trust us and who make a profession of lying to us?  I remember when Treasury Secretary Paulson told the US Congress that unless they stopped asking questions and simply handed him $600 billion  to bail out the shadow banking system, there would be anarchy and tanks on the streets. Am I wrong ...

Hal's insight:

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Latest Gold sanctions begin to hit Iran economy

Latest Gold sanctions begin to hit Iran economy | Gold and What Moves it. | Scoop.it

NEW DELHI(BullionStreet): As a change of rule in Iran with the victory of Hassan Rouhani is about to take place, the US have imposed an arsenal of sanctions against Iran.

 

The latest is expanding the number of penalized industries and imposing rules that theoretically could halt all gold and currency trade by the country.

 

Many analysts are of the view that the sanctions came at a wrong time as they believe Rouhani's victory opened a new path for Iran to engage constructively with the international community and ease tensions.

 

Rowhani has promised to engage constructively with the world and ease tensions raised by Tehran’s nuclear ambitions and sanctions. ...

Hal's insight:

People hate when you mess with their money.

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India's MMTC to open more Gold delivery centres

India's MMTC to open more Gold delivery centres | Gold and What Moves it. | Scoop.it

NEW DELHI(BullionStreet): India's largest bullion importer, Minerals and Metals Trading Corporation, better known as MMTC announced plans to expand gold delivery centres across the nation.

 

According to MMTC director, Anand Trivedi, the public sector firm is planning to open 11 new gold delivery depots across the country, especially in tier II and III cities.

 

The move is expected to increase gold supply to jewellery sector, which was currently facing an acute shortage of gold due to import restrictions imposed by the Reserve Bank of India.

 

MMTC at present only supplying gold to consumers in three cities in India including Delhi and Mumbai. ...

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John Embry: The Gold & Silver Takedown & A Major Geopolitical Eruption

John Embry: The Gold & Silver Takedown & A Major Geopolitical Eruption | Gold and What Moves it. | Scoop.it

John Embry tells King World News:


It’s also obvious that the commercials are in the process of getting long the gold market for the first time in over a decade.  I’ve always believed that when we saw the commercials move to the long side of the gold market that it would presage a major up-move.  


So the gold market is in the process of moving into a remarkable position right now, and I expect an explosive move higher in coming months.  There is nothing positive taking place in the global economy, and now we have this mess flaring up in Egypt which has the price of oil trading near $100.  That’s the last thing an already weak global economy needs to see.


The last thing the world needs at this point is a major geopolitical eruption with disastrous implications.  This would be coming at a time when the West can’t even deal with its own financial issues.” 

Hal's insight:

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Financial Meltdown, Back-To-Back “Stick Saves” & Gold

Financial Meltdown, Back-To-Back “Stick Saves” & Gold | Gold and What Moves it. | Scoop.it

Robert Fitzwilson tells King World News:  


Since 1980, the amount of debt-based money has exploded.  If that simple valuation metric of comparing the price of gold to the amount of money is applied, gold is drastically undervalued.  


Given that the zero interest rate policy and unlimited printing of money have been a major factor in the current prices and valuation factors for stocks, it is not accurate to look favorably on how cheap stocks might be while saying that gold is overvalued, when both are being driven by the same artificial supports.


Gold is not being driven by inflation, regardless of which statistics one believes.  The term inflation itself was quietly converted last decade from increases in the supply of money to prices.  Jastram’s seminal work on gold showed that gold actually outperforms in deflationary environments.  During World War I, as the prices of commodities soared, gold actually lost relative value.  However, the dialogue in the media continues to focus on a lack of price inflation as to why gold has been selling off.  It could not be further from the truth. ...

Hal's insight:

Click through for the charts and the full piece on King World News. He also discusses the stock market. For me, again, "it's the debt, stupid."

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Ask the Expert – Jim Sinclair (June 2013) :: Jim Sinclair's Mineset

Ask the Expert – Jim Sinclair (June 2013) :: Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

Sprott Money News: Excellent. So, we have a few questions here today from our viewers that they’re interested in. And there’s a definitely a few questions considering everything that’s happening in the gold market today. It’s interesting, to say the least. So, I’ll start off with a quick question, which I’m sure you’ve gotten before, but it’s still important to new viewers and those who are new to the gold market. And that is, for the first-time investor, what is the best way to own gold, in your personal opinion?

 

Jim: For the first time investor of modest capitalization – one ounce gold coins or a fund representing physical gold.

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Jesse's Café Américain: Gold Daily and Silver Weekly Charts - Non-Farm Payrolls on Friday

Jesse's Café Américain: Gold Daily and Silver Weekly Charts - Non-Farm Payrolls on Friday | Gold and What Moves it. | Scoop.it

I do not think most realize the shocking nature of this excessive move downward in gold and silver.

The manipulation in the paper markets is there for all to see. I cannot help but laugh quietly every time I hear the Lord Haw Haws and the spokesmodels on the financial networks talking about how gold and silver have fallen into disfavor, and how low the volume of physical purchasing has been. They desire what they do not have!

One can keep doubling down on a bluff for too long, and eventually they will be called, and their cards must be shown.

Nothing is more clear to me that the paper gold and silver that has been shorted cannot possibly be covered. It has gone entirely too far. And further price declines to free up bullion from the ETFs, as I have pointed out, is very counter-productive because it is now just stimulating more physical buying in size.

We are entering a new phase of the currency wars, and the metals bears and financiers are worried, despite their bluff and bravado. Their arrogance is so typical as they reach the end of their game. 

Yes they are still dangerous in the short term, but they must feel the fear creeping up their spines.  One after another their control frauds and schemes are being exposed.  Their perfidy is there for all to see.

They have been weighed, and are found wanting. ...

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Latest GGR Video on YouTube – COMEX Commercials Nearly Net Long Gold - Got Gold Report

Latest GGR Video on YouTube – COMEX Commercials Nearly Net Long Gold - Got Gold Report | Gold and What Moves it. | Scoop.it

Commercial traders include producers, processors, refiners, bullion merchants, jewelry manufacturers, physical bullion management firms, mercenary swap dealers, etc., and the bullion-trading banks many of them end up trading through on the COMEX bourse.  Commercials are the people involved in the gold trade who predominantly use futures to hedge their price risk. 

 

As of this June 28 report (data as of Tuesday, June 25), the commercial hedgers had their least net short (least number of net hedges) for gold as a percentage of the total COMEX open interest (9%) since December, 2001, which coincidentally was the last time commercial traders as a group were net long gold futures.  Gold changed hands for $270 the ounce back then, by the way.  So one might conclude that with gold in the $1270s last Tuesday, the combined commercial traders of gold futures’ expectations that the gold price would fall further than it already has is equivalent to when gold was trading in the $270s (not a misprint), three months after the 9-11 terrorist attacks in New York, Washington D.C. and Pennsylvania.

 

That is to say that the commercials are not positioning for further gold weakness if their net futures positioning is any guide.  Much more in the video embedded below for convenience.  A direct link to view it on YouTube is at the end of this posting.  

 

- See more at: http://www.gotgoldreport.com/2013/07/latest-ggr-video-on-youtube-comex-commercials-nearly-net-long-gold.html#sthash.M6OGp1zF.dpuf

Hal's insight:

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Stunning 500 Tons Of Gold Now Being Moved Each Month

Stunning 500 Tons Of Gold Now Being Moved Each Month | Gold and What Moves it. | Scoop.it

On the heels of continued volatility in the gold and silver markets, today James Turk told King World News that he is seeing shocking movements of 500 tons of physical gold each month.  Turk spoke about this remarkable situation as well as other key developments taking place in the ongoing war in the gold market.


Turk: “We have recently seen one of the greatest interventions in the history of the gold market by Western central banks.  Gold is one of the world's least transparent markets, and misleading central bank accounting keeps it that way.  But sometimes, by looking at different pieces of the puzzle, a picture starts emerging.  So I have put together some of the pieces together....

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Explosive Rebounds In The Miners Now Occurring | Bull Market Thinking

Explosive Rebounds In The Miners Now Occurring | Bull Market Thinking | Gold and What Moves it. | Scoop.it

Greetings,

This week saw absolute fireworks in the metals markets.

Gold was smashed repeatedly, knocked down in $50 increments during the early morning hourswhile most in the West were still sleeping.


Peter Grandich mentioned to me during an interview that he’s convinced there’s a smoking gun of manipulation being held somewhere, and that the shots fired this week created ‘technical extremes’ he hasn’t seen in years—which led him to call for a bottom in gold on Wednesday, within 48 hours, while trading at $1225.

 

What’s fascinating is that on Thursday, while gold was being pounded into the close, mining stocks said—“We’ve had enough!”, and closed up higher for the day. This is an interesting development, as it may be signaling that smart money is moving back into the market.

 

As further evidence of that, volume on the GDX reached it’s highest level ever recorded, closing up over 7% on Friday, and a few mining companies I ...

Hal's insight:

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Gold, Silver Rally in July Start; All US Mint Bullion Coins Rise

Gold, Silver Rally in July Start; All US Mint Bullion Coins Rise | Gold and What Moves it. | Scoop.it

Precious metals started July and the second half of 2013 with broad gains after tumbling in the second quarter.

 

And in a rare daily event, U.S. Mint sales increases were logged Monday for each of the bureau’s bullion coins.

 

Returning to metals, gold for August delivery rallied $32, or 2.6%, to finish at $1,255.70 an ounce on the Comex in New York. Gold traded from a low of $1,224.10 to a high of $1,261.70. Higher demand for physical gold supported gains, opined analysts. ...

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5 Stunning Gold & Silver Charts Reveal Shocking Global Situation on King World News

5 Stunning Gold & Silver Charts Reveal Shocking Global Situation on King World News | Gold and What Moves it. | Scoop.it

By Eric Pomboy Meridian Macro Research

July 1 (King World News) - Gold & Silver Charts Of The Day

 

“The Net Commercial Gold Position has moved even closer to positive territory (reduction of 20% for week ending 6/25).  The nearly $560/oz drop since the announcement of QE3 in mid-Sept. 2012 has resulted in the most bullish Commercial reading since August 2002 when Gold was $310/oz. 

 

Given the enormous volume for just Wednesday-Friday (total of 873,719 contracts…the largest 3-day volume since the mid-April smash), I would not be surprised to see the net short position cut nearly in half by next week, with a net long reading not far off. ...

Hal's insight:

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WHY PRECIOUS METAL HAS ME WORRIED - The Prospector Blog

WHY PRECIOUS METAL HAS ME WORRIED - The Prospector Blog | Gold and What Moves it. | Scoop.it
TheProspectorSite.com exists to provide proof via current events and history that precious metals are one of the best ways to preserve and grow your wealth.

 

Why I’m concerned:

Let’s take a closer look at this from a businessman’s viewpoint. A business expands as demand generates profit. This includes leasing or buying more equipment and space, growing a workforce, and so on. The goal is to generate enough product or service to match the market’s pace and trend. Simple enough I’m sure you will agree?

 

Today’s companies in the PM exploration and mining industry are in great trouble. Mining stock is in far greater decline than paper or physical PMs, even with rising worldwide demand. Why you ask? Because an ounce of real metal sells for less than the tangible cost to extract PM from the ground.

 

A company in the mining business doesn’t view silver or gold as a safe haven. They view PM as an avenue of business growth and profitability. The problem is we have reached a price point to where the return is not worth the investment, not to mention risk.


Each person considering owning physical silver or gold should expect to see an interruption in precious metal availability sometime in the near future.

 

The mining industry has yet another problem, as well. Today’s environmental challenges are complex and litigation is extremely expensive. Each passing day brings the threat of yet another environmental related regulation that requires new or updated compliance. It is only worth fighting through such regulation if the trouble equals profitability.

 

This tandem threat, environmentally motivated regulation and lack of profitability, is far more concerning than a temporary waterfall drop in PM prices. A mining bust will not return to a boom overnight, regardless if PM prices rise in the meantime. ...

Hal's insight:

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The Golden Truth: The Economy Is Quickly Headed South - QE 4 To Follow

The Golden Truth: The Economy Is Quickly Headed South - QE 4 To Follow | Gold and What Moves it. | Scoop.it
Sure baby, mañana. It was always mañana. For the next few weeks that was all I heard––mañana a lovely word and one that probably means heaven.  - Sal Paradise, main voice in Jack Kerouac's  "On The Road"


That famous line from "On The Road" came to mind after I read a summary of the Fed's Bill Dudley's speech today in which he admitted that the Fed is often "too optimistic" in its economic forecasts but that he himself saw a stronger economy in 2014:  "Tomorrow and tomorrow and tomorrow...It's a tale told by an idiot, full of sound and fury, signifying nothing" (Macbeth).

For two days in a row now, the stock market - as represented by the S&P 500 - opened up with big moves higher, only to reverse course and close well off its highs of the day.  As I write this, the SPX has sold off into negative territory.   If the outlook is for a better economy, why this market action?  In fact, yesterday the Dow Jones homebuilder Index closed negative and over 2% off of its early-day highs.  This is the action of a market that wants to go lower and it wants to go lower because fundamentals are deteriorating. ...

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oftwominds-Charles Hugh Smith: Opportunity Squandered: We Blew It

oftwominds-Charles Hugh Smith: Opportunity Squandered: We Blew It | Gold and What Moves it. | Scoop.it

We are about to reap the consequences of tolerating the perfection of the Savior State / cartel-crony capitalism's neofeudal debtocracy.


We as a nation had an unparalleled, historic opportunity to set things right in the aftermath of the 2008 financial meltdown. Alas, we blew it. Instead of tearing down what had failed spectacularly, we chose to do more of what failed spectacularly: cartel-crony capitalism, centralized wealth and power and an expansion of our financialized debtocracy. Gordon Long and I discussed this epic miss in Window of Opportunity: Blown! While it's certainly easy to blame our corrupt, self-serving leadership, we have tolerated their "more of the same." It's been said that a people get the government they can tolerate (as well as the one they deserve), and the American people have tolerated an expansion of everything that is systemically destructive because we dared not risk our share of the Savior State swag. The joke will be on us, because there won't be any swag when the rotten edifice collapses in a heap. The entire Status Quo response can be summarized thusly: save cartel-crony capitalism and increase central state power by expanding credit and blowing borrowed trillions, i.e. paper over structural flaws with tsunamis of free money and credit. ...
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Wall Street Banks Extract Enormous Fees From The Paychecks Of Millions Of American Workers

Wall Street Banks Extract Enormous Fees From The Paychecks Of Millions Of American Workers | Gold and What Moves it. | Scoop.it

Would you be angry if you had to pay a big Wall Street bank a fee before you could get the money that you worked so hard to earn?  Unfortunately, that is exactly the situation that millions of American workers find themselves in today.  An increasing number of U.S. companies are paying their workers using payroll cards that are issued by large financial institutions.  Wal-Mart, Home Depot, Walgreens and Taco Bell are just some of the well known employers that are doing this.  Today, there are 4.6 million active payroll cards in the United States, and some of the largest banks in the country are issuing them.  The list includes JPMorgan Chase, Bank of America, Wells Fargo and Citigroup.  The big problem with these cards is that there is often a fee for just about everything that you do with them.  Do you want to use an ATM machine?  You must pay a fee.  Do you want to check your balance?  You must pay a fee.  Do you want a paper statement?  You must pay a fee.  Did you lose your card?  You must pay a big fee.  Has your card been inactive for a while?  You must pay a huge fee.  The big Wall Street banks are systematically extracting enormous fees from the working poor, and someone needs to do something to stop this. ...

Hal's insight:

It's what I like to call the enslavement of the working class.

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Singapore opens world's first physical precious metals exchange

Singapore opens world's first physical precious metals exchange | Gold and What Moves it. | Scoop.it
The exchange allows traders to buy and sell precious metals securely and conveniently, supporting real-time transactions with internationally recognised mints.

 

SINGAPORE(BullionStreet): In yet another attempt to encourage gold trading in the country, Singapore's SGPMX, (Singapore Precious Metals Exchange) on Wednesday launched the world's first physical precious metals exchange with peer-to-peer bullion trading capabilities integrated into the trading platform.

 

As part of the launch, SGPMX also announces the entry into an MOU with Certis CISCO which will act as the custodian for bullion storage.

The platform which will operate 24/7 will allow investors and traders to buy and sell physical gold for as little as $1,000.

 

After they have bought it, the exchange will also provide facilities to store the gold with Certis Cisco Singapore. ...

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Global Gold, Silver production may rise in coming years despite current bearish prices

Global Gold, Silver production may rise in coming years despite current bearish prices | Gold and What Moves it. | Scoop.it

By Julie Tapton
NEW JERSEY (Bullion Street)Due to recent reforms in the Departmentr of Environment and Natural Resources (DENR)of Philippines, we can expect to see an increase in metals output in the coming years, including areas of precious metal mining, gold in particular. Although the reforms are specific to the Philippines, there are predictions and recent reports that show precious metals in particular, are set to have increased levels of production in the next 4 to 5 years.

Global predictions
A few months ago, it was reported that global silver production had reached a record high of 787 million ounces. A major factor in this rise is attributed to silver being a by product of other mining operations focused on different metals. Another factor is the abundance of mining operations in countries such as China, Mexico and the India, with the Lead and Zinc sector accounting for a large amount of the silver by product.

Gold has seen an increase too, again particularly in China, were predictions suggest that the production rate of the metal will rise by around 10% this year alone. China has already shifted previous top producer South Africa from its spot on the global production stage, and it looks like production figures will continue to rise in the bear future. In addition, the buyers market ...

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Central Banks Dumping U.S. Treasuries at Fastest Pace Since 2011 Budget Crisis :: Jim Sinclair's Mineset

Central Banks Dumping U.S. Treasuries at Fastest Pace Since 2011 Budget Crisis :: Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

Jim Sinclair:

The latest from John Williams’ www.ShadowStats.com.

- Central Banks Dumping U.S. Treasuries at Fastest Pace Since 2011 Budget Crisis 
- Market Turmoil Reflects Shifting Sentiments and Systemic Distortions 
- Underlying Fundamentals for Gold and Silver Remain Extremely Strong 
- Gold Remains the Most-Solid Hedge Against Looming Dollar and Inflation Crises

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Harvey Organ's - The Daily Gold and Silver Report: July 1/GLD bleeds another 1.2 tonnes/Total dealer comex falls again to 1.336 million oz/ China up its consumption for the first six months to 800 ...

Harvey Organ's - The Daily Gold and Silver Report: July 1/GLD bleeds another 1.2 tonnes/Total dealer comex falls again to 1.336 million oz/ China up its consumption for the first six months to 800 ... | Gold and What Moves it. | Scoop.it

Ladies and Gentlemen: we have a three-fold problem:

i) the total dealer inventory of gold falls to a very dangerously low  level of only 41.55 tonnes and none of the 9.5 tonnes delivery notices from May and the major part of the 30.70 tonnes from June  issued by JPM  on its dealer side  has  yet to leave.

ii)  a) JPMorgan's customer inventory remains at an extremely low 143,212.149 oz.
If you are a customer of JPMorgan and have your gold in its vault, I think it is best to remove it before we have another fiasco like MFGlobal.

ii  b)  JPMorgan's dealer account rests tonight at 401,877.493 oz.  However all of this gold has been spoken for plus an additional 92,722.51 oz of deficient gold.

iii) the 3 major bullion banks have collectively only 27.044 tonnes of gold left in their dealer account. 

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GOLD BULL MARKET RESTART SOON

GOLD BULL MARKET RESTART SOON | Gold and What Moves it. | Scoop.it

It seems the wait may soon be over. Hints of rationality are returning even in the face of certain manipulation. The size of the true debt the people of the wealth-side of our world is the largest bond bubble ever. Yet the economy is moving, yay—the truth is there exists no historical precedent no data to review for patterns which might reveal what to do.

The amount of attention each little move, fluctuation and uncertainty receives has never happen before in the history of the human race.  This market moves in ways that are affected by is own movement or, rather, the attention each move in the market affects how the market moves.  Which all means don't mistake the trees for the forest. ...


There exists no back-test for the current financial era. ...

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A Rare Anomaly in the Gold Market | Casey Research

A Rare Anomaly in the Gold Market | Casey Research | Gold and What Moves it. | Scoop.it
Jeff Clark, Senior Precious Metals Analyst

 

Gold stock investors have been pummeled, including myself. Worse, we've had to hear "I told you so" from all the gold haters in the media.

There are a few commentators expressing mild interest in gold at these levels, but one thing I haven't heard any of them talk about is a metric that gold analysts are rarely able to use, because gold stocks just don't get this undervalued.

 

Mainstream analysts sometimes talk about book value, especially when a stock appears cheap. Book value (BV) is a metric that, in essence, sets the floor for a stock price in a worst-case scenario. BV is equal to stockholders' equity on the balance sheet, and is the theoretical value of a company's assets minus liabilities – sometimes you'll hear this called "net asset value" (NAV). So when a stock price yields a market capitalization (share price x number of shares outstanding) equal to BV, the investor has a degree of safety, because if it dropped lower, a buyer could theoretically come in, buy up all shares, liquidate the company's assets, and pocket the difference.

 

Price to book value (P/BV) shows the stock price in relation to the company's book value. A stock can be considered "cheap" when it is trading at a historically low P/BV. Or, even better, it can be considered objectively " undervalued" when it is trading below book value.

 

Given the renewed selloff in the gold market, I wanted to see if gold equities were getting close to book values, not just because it would point to opportunity but also the margin of ...

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Jim Rickards on The Bryan Callen Show: Cliff Küle's Notes

Jim Rickards on The Bryan Callen Show: Cliff Küle's Notes | Gold and What Moves it. | Scoop.it

A great interview of Jim Rickards* .. fairly long at about 50 minutes .. lots of funny stories & jokes in this one .. Rickards discusses his currency war games at the Pentagon, the lessons of the Great Depression, the possibility of returning to the gold standard .. how the barbarians took over the Roman Empire.

Hal's insight:

Click through for the audio interview. hat tip to http://economicsignsofthetimes.blogspot.com 

 

Mr. Rickards discusses gold and China. Something that should perk up your ears.

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Gold & Silver: Purely A Mental Game Right Now; Do Not Blink

Gold & Silver: Purely A Mental Game Right Now; Do Not Blink | Gold and What Moves it. | Scoop.it

Michael Noonan: “Water, water everywhere, nor any drop to drink.”

 

There is a similar situation with regard to fiat paper everywhere, but not a gold delivery to be made. The delirium cast by central  bankers issuing unlimited fiat has kept so many people in a fiat-induced fog, unable to see clearly. The fog has lifted. It is all a game. See the fraudulent scheme for what it is and then fear no more. It is just a matter of time before everything unravels, as it surely is.

 

The moneychangers are dragging the faux decline for as long as they can, hoping to wear down the resolve of PM holders. Ask yourself, are you selling your holdings of either gold or silver has price has declined? Will you sell out if gold goes to $1100, silver to $18? If not, then what difference does the current price of gold of silver make? If you are not going to sell, then let the central bankers crush the price as much as they can! ...

Hal's insight:

Click through for the charts and the rest of the post. It's a decent read. Fundamentals will win out. Hat tip to http://www.checkgoldprice.com

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Charles Hugh Smith - Charts of energy consumption are screaming "recession."

Charles Hugh Smith - Charts of energy consumption are screaming "recession." | Gold and What Moves it. | Scoop.it

Charts of energy consumption are screaming "recession."


To get a feel for how many energy slaves you have, imagine hiring 40 people to drag you and your car down the street at 3 miles per hour. Replacing the energy in a gallon of gasoline with human labor is imperfect, of course, because the people you hire to drag your vehicle down the street cannot run 70 miles an hour. The gallon (or four liters) of petrol will push your car about 25 to 30 miles at high speeds at a market cost of about $4. Imagine how much it would cost to pay 40 people to drag your 1.5-ton car 25 miles--a lot more than $4. (Weight of 2012 Ford Fusion: 3,285 pounds. Weight of 2012 Honda Civic: 2,765 pounds.) You get the idea: every bit of fossil fuel you consume is the equivalent of an energy slave. Correspondent David P. (Market Daily Briefing) describes the concept thusly: "Your personal standard of living is derived (largely) from the number of energy slaves you have working for you." Energy Slaves - 5 charts David kindly shared three of his five charts of energy consumption per capita (i.e. per person). This first is total energy consumption in the U.S. per capita. The key takeaway here is how closely energy consumption tracks recession: notice how energy consumption cratered in the deep 1980-82 recession, and how it fell off a cliff in 2009, and has continued to weaken despite the official return of "growth." ...
Hal's insight:

Click through for the rest. This is definitely something to chew on.

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