Gold and What Mov...
Follow
78.4K views | +6 today
Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
Curated by Hal
Your new post is loading...
Your new post is loading...
Scooped by Hal
Scoop.it!

Cypriot Banking Crisis – A Turning Point for Your Portfolio? - Casey Research

Cyprus may prove to be the straw that breaks the back of the world banking system.

 

Is This "IT?"

We've been saying for some time that the global house of cards could topple at the slightest rustling of the wings any of a number circling black swans. Something like the ECB turning draconian with Cyprus and scaring the heck out of everyone else in the EU seems more like a swan dive right into the heart of the teetering structure.

 

Many mainstream commentators are dismissing the significance of the Cyprus debacle – but the same type of people also dismissed the threat of the subprime crisis until it could no longer be denied.

 

This does not prove that what's happening regarding Cyprus today is the tipping point future historians will point to as the beginning of the end of the EU and hence the rest of the old economic order. But it could be.

 

Skepticism from the mainstream does not prove that Doug is right about the global economy exiting the "eye of the storm" this year, but it's a great contrarian indicator.

 

What is absolutely clear is that the extreme measures the ECB has just shown it is willing to take are solid evidence that we are right about just how shaky things are – just how close to the crumbling edge of the abyss the whole world is. ...

Hal's insight:

Click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Cyprus bank chairman resigns as protests erupt - BlackListedNews.com

Cyprus bank chairman resigns as protests erupt - BlackListedNews.com | Gold and What Moves it. | Scoop.it
Cypriots faced new worries Tuesday as the chairman of the island's biggest lender quit, hundreds of people protested against a huge international bailout and banks stayed closed for two more days. 

Hundreds of students and bank staff demonstrated outside the presidential palace amid growing anger at the European Union and International Monetary Fund over the cripping terms of the 10-billion-euro ($13 billion) rescue package.

 

Bank of Cyprus chairman Andreas Artemis reportedly tendered his resignation due to concerns about the impact of the deal on his institution and the island's status as an offshore banking sector. ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

I’ll Take My Chances The Banks Are Right on Gold – Market, Economic, Social, Political and Life Commentary by Peter Grandich

Just about every day I awake to read some bearish prediction on gold and/or an email telling me how wrong I am to be so bullish on gold (and mom, you can stop sending them-lol).

 

After decades of being aggressive sellers, Central Banks are aggressive ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

Orphanides: Cyprus is in 'Difficult Times,' Faces Recession | Bloomberg | Safehaven.com

Orphanides: Cyprus is in 'Difficult Times,' Faces Recession | Bloomberg | Safehaven.com | Gold and What Moves it. | Scoop.it

Athanasios Orphanides, the former governor of the Central Bank of Cyprus, told Tom Keene and Sara Eisen on "Bloomberg Surveillance" today that Cyprus "will face a deeper recession going forward."

 

Orphanides also said, "The other periphery countries should thank the Cypriot parliament for rejecting the earlier plan that was advanced about 10 days ago that essentially asked for the confiscation of deposits." ...

Hal's insight:

Click over for the video.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Currency Wars: ‘Race to Debase’ spurs central banks’ gold-buying spree - BlackListedNews.com

Currency Wars: ‘Race to Debase’ spurs central banks’ gold-buying spree - BlackListedNews.com | Gold and What Moves it. | Scoop.it

Today’s unbacked fiat currencies are at the root of an emerging global monetary problem.  While the talk of “recovery” in recent months now populates headlines, the desperate actions of politicians and central bankers show the contrary.

 

The Federal Reserve (Fed), European Central Bank (ECB) and the Bank of Japan (BOJ), cannot stop creating new base money. Central Banks want to present confidence to the markets. Where the risk lies for monetary policymakers is in the value of the debt on bank balance sheets, and the value of the debt across the broader economy.  This debt is being held at par because interest rates should be much higher.  All of this has led to a situation where interest rates do not reflect true inflation.

 

There is a saying “the further back you look into the past, the more certain you can be about the future.” History has shown that currency debasement ALWAYS leads to inflation and ultimately hyperinflation. This happened to the Roman Empire, the Weimar Republic in Germany, Argentina and most recently Zimbabwe where inflation peaked at 7.96 billion percent.

 

You would think that people would learn from history. Well, apparently not. ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

Sinclair - Cyprus, Gold, Russia & A New Monetary System

Sinclair - Cyprus, Gold, Russia & A New Monetary System | Gold and What Moves it. | Scoop.it

Jim Sinclair tells King World News:


... “It’s obvious that the intention of the paper market for gold is to collapse the price under $1,600.  The buyer of this market has been the physical buyer.  The transition we are going through is, who is the arbiter of price, paper or physical?


The worst thing that could happen to the paper shorts is that, yes, they do get it through $1,600 (on the downside), but barely.  Gold may trade to $1,575 to $1,580 in that event, but gold will immediately come back through $1,600 and all the way through the $1,800 level.  This action would be the beginning of the end of the paper market controlling the price of gold.” ...

Hal's insight:

Click through for the full post on King World News. Lot of good insights.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Former US Treasury Official - Banks Move To Enslave Humanity

Former US Treasury Official - Banks Move To Enslave Humanity | Gold and What Moves it. | Scoop.it

... Eric King:  “What are your thoughts when you see this kind of government theft?”


Dr. Roberts:  “Well, if they get away with it, if the people accept it, they are being reenserfed (or enslaved).  People are becoming serfs again.  They exist for the purposes of that state.


So I’m all in favor of the Cypriots to take to the streets, and to whatever level of violence they need take it to.  Democracy is a human achievement.  It took centuries.  So why should we just let it go away because there is a banking crisis?” 

 

Dr. Roberts also added:  “The Russians may simply say, ‘It’s our money that they are after.  Back off.’  You can’t predict how the Russians may respond.”

Hal's insight:

If you are in debt, you are already pretty much a slave.

 

It's also why governments are working to keep gold out of people's hands. Because gold is real money. Fiat is not.

 

Track the gold price w/the free ExactPrice widget http://ow.ly/78CMe ;

more...
No comment yet.
Scooped by Hal
Scoop.it!

As The Wealthy Panic We Will See Tsunamis In All Key Markets

As The Wealthy Panic We Will See Tsunamis In All Key Markets | Gold and What Moves it. | Scoop.it

Robert Fitzwilson wrote the following and was posted to King World News:

 

... What the events of last week demonstrated was that the assumptions about the safety and sanctity of the financial instruments were flawed.  Bank accounts can be confiscated.  The shocking nature of the proposed confiscation also suggests that the monetary systems themselves are coming to the end of the road.  Instead of continuously creating more debt, this was really a raw power grab to extinguish previously created debt in the form of bank deposits.  As money really represents claims on someone else’s property and labor, perhaps the Germans are really saying that they are not willing to provide the means of repayment on those obligations.  The most direct way to do that is outright confiscation.

 

So for the truly wealthy, they now face the same risk of the small depositors, and that is what to do.  If they leave the money in the financial system, they are easy targets for confiscation.  If they decide to mitigate that risk, the question becomes “To where and into what?”.  The central banks and the global monetary system are all joined at the hip.  If you start to doubt the system, where can you go?  You can go into real assets such as prime real estate, resources, gold and silver, but there is not enough to go around. ...

Hal's insight:

Click through for the rest of the post. It's a worthwhile read. 

more...
No comment yet.
Scooped by Hal
Scoop.it!

Sinclair, Farage, Roberts - Cyprus May Dwarf 2008 Collapse

Sinclair, Farage, Roberts - Cyprus May Dwarf 2008 Collapse | Gold and What Moves it. | Scoop.it

Sinclair:  “The propaganda being put out in the mainstream media is a message that things are moving along in Cyprus, and there will be a positive conclusion.  The mainstream media is saying this is a banking problem of minor significance.


This is Joseph Geobbels style propaganda at its finest because Cyprus will ultimately be seen as a defining event in history.  The term ‘Bail-In’ really doesn’t define what it is, which is confiscation.  It’s the removal of part of your deposit.


Sure, they have agreed on everything such as currency controls because if you have a banking problem and you don’t control the flows, there is no way to be able to produce enough cash to meet the demands that would come in on a Monday morning. ...

Hal's insight:

This is a must read. Click over for the full piece from King World News.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Cyprus, Massive Global Debt, Derivatives & The End Game

Cyprus, Massive Global Debt, Derivatives & The End Game | Gold and What Moves it. | Scoop.it

John Embry tells King World News:

 

... The problem that goes unremarked, because nobody wants to talk about it, is the amount of debt in the world.  Egon von Greyerz has referred to it on several occasions, and it must be roughly $200 trillion.  This is in a world economy that would be about $70 trillion per year.  When you superimpose on that another at least one quadrillion dollars of derivatives, many of which are seriously mispriced and are just riddling the banking system, there are no solutions to this.  


The idea that we can grow ourselves out of this is preposterous because anybody who understand anything about Austrian economics realizes that the deeper you get into a credit cycle, the more and more debt creation you need just to create a real dollar of GDP growth.  But the problem is we can’t support the debt we have right now.  So the idea that we will have sustainable growth going forward is just vacuous.  It isn’t going to happen. ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

Hedgehog Trader | Blog » Archive » Profits and Plans! As Gold Bull Prepares to Rise!

Hedgehog Trader | Blog » Archive » Profits and Plans! As Gold Bull Prepares to Rise! | Gold and What Moves it. | Scoop.it

"... the charts below suggest, we are on the verge of a massive gold, silver and mining stock breakout. The last time the miners were this cheap and the odds were this good it was 2009 and our positions doubled, tripled (and more) in the year and a half that followed. ..."

Hal's insight:

Click over for the full post and the charts.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Ed Steer on The Commitment of Traders Report. #Gold #Silver

Ed Steer on The Commitment of Traders Report. #Gold #Silver | Gold and What Moves it. | Scoop.it

Ed Steer writes:

 

The Commitment of Traders Report was a surprise.  Silver showed a big improvement in the Commercial net short position...and gold showed a big deterioration in its Commercial net short position..

 

In silver, the Commercial net short position declined by 14.9 million ounces...and as of the Tuesday cut-off stands at 132.2 million ounces. Once the market-neutral spread trades are subtracted out of the total open interest, the Big 4 traders are short 38.8% of the entire Comex silver market on a 'net' basis.  The '5 through 8' traders are short an additional 11.6 percentage points on a net basis.  Add them up and the Big 8 are short 50.4% of the entire Comex silver market...and that's a minimum percentage.


In gold, the Commercial net short position increased by a whopping 2.02 million ounces...blowing out to 16.24 million ounces.  But the 'good' news, as Ted Butler pointed out to me on the phone yesterday, was that there was no increase in the short position of the 'Big 8' traders...which includes the BIG 3...JPMorgan, Canada's Bank of Nova Scotia...and HSBC USA.  All of the increase was the result of the smaller Commercial traders selling some of their long positions for a profit.

Hal's insight:

Click over for his full Saturday post.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Cyprus told: take bank levy or leave euro

Cyprus told: take bank levy or leave euro | Gold and What Moves it. | Scoop.it
President, eurozone finance ministers and bailout troika hold emergency meeting as €100 limit imposed on ATM withdrawals

 

Wealthy Russians stand to lose billions of euros in Cypriot banks under draconian terms being hammered out on Sunday night in Brussels to prevent the Mediterranean tax haven becoming the first country forced out of the single currency.

 

Negotiations got underway amid a hardening of the stance held by the International Monetary Fund and Germany, who insisted that depositors must take the hit for bailing out the eurozone's latest crisis economy.

There were signs of panic in Cyprus as a €100 (£85) limit was imposed on ATM withdrawals, with more stringent capital controls to follow if a deal is reached.

 

The European Central Bank has threatened to cut off funds propping up Cypriot banks on Monday, precipitating the island's exit from the euro if agreement was not reached on Sunday night at the emergency meeting between eurozone finance ministers, the president of Cyprus Nicos Anastasiades, and the bailout troika of the IMF, European Commissionand the ECB. ...

Hal's insight:

Hat tip to www.drudgereport.com 

more...
No comment yet.
Scooped by Hal
Scoop.it!

On Argentina & Cyprus Collapses: "Gold & Silver Protects You From These Events; You'll Have Leverage and Resources" | Bull Market Thinking

On Argentina & Cyprus Collapses: "Gold & Silver Protects You From These Events; You'll Have Leverage and Resources" | Bull Market Thinking | Gold and What Moves it. | Scoop.it
I had the chance yesterday to speak with Fernando Aguirre, author of a book entitled, Surviving The Economic Collapse, based on his first-hand experience of the 2001 economic collapse in Argentina.

 

... When asked just how desperate people can become during these crises, Fernando commented that, “When we look at these things it just seems to be numbers; unemployment, inflation, etc. But on the street level when it’s happening…middle class people become poor, and those who were already struggling end up in pretty desperate situations. You see things like looting, you see things like…the slaughtering of cattle, that happened more than once [in Argentina]. Sometimes they [stole] the cattle on the highways…and people just desperately slaughtered the animals [for meat] right there.”


In watching the events unfold in Cyprus, Fernando commented that the process seems to be unfolding “play-by-play” in the same way it occurred in Argentina. “As we’re seeing right now, they ended up freezing people’s accounts, it’s not unlike what they did in Argentina. They freeze people’s accounts…many stores don’t accept credit cards, many of the suppliers want cash to keep the money out of the system, ATM’s run dry, and they do this on a Friday afternoon with a bank holiday the next Monday. People become pretty desperate.” ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

Arizona Lawmakers Advance Bill Making Gold and Silver Legal Tender - BlackListedNews.com

Arizona Lawmakers Advance Bill Making Gold and Silver Legal Tender - BlackListedNews.com | Gold and What Moves it. | Scoop.it

Concerned about the out-of-control Federal Reserve System and the increasingly unstable fiat dollar managed by the privately owned central bank, lawmakers in Arizona are following in Utah’s footsteps to come up with a potential alternative that protects citizens. Legislation to treat gold and silver as legal tender already sailed through the state Senate in late February, and last week, the Arizona House Financial Institutions Committee voted 4 to 2 to advance the bill as well. Activists are now working hard to keep it moving along.

 

If the legislation (S.B. 1439) passes through the full state House of Representatives and is signed into law by Republican Gov. Jan Brewer, gold and silver coins would become legal tender within Arizona. That means, among other important changes, that the precious metals would be treated just like debt-based Federal Reserve notes for taxation and regulation purposes. However, unlike fiat dollars, nobody would be forced to accept gold or silver currency.

 

The bill, which has found strong support among ...

Hal's insight:

Some states get it.

more...
Noah Duncan's curator insight, April 14, 2013 10:06 AM

This would be a very stupid bill to pass for one state only.  There is a reason that every single state has the same currency.  There's no reason to change it only for one state. 

Tanner Schatzel's comment, April 20, 2013 10:58 PM
I think that this is a good idea, it gives people another way to pay for things. You would not just have to have money to pay for things. Since we base our monetary system off of precious metals anyway, why not limit the middle men and let the people get paid directly in gold and silver. Since gold and silver keep going up in price I would accept them because it would be worth more someday anyways.
Scooped by Hal
Scoop.it!

This Fact About Income Inequality Will Blow Your Mind

This Fact About Income Inequality Will Blow Your Mind | Gold and What Moves it. | Scoop.it

Incomes for the bottom 90 percent of Americans only grew by $59 on averagebetween 1966 and 2011 (when you adjust those incomes for inflation), according to an analysis by Pulitzer Prize-winning journalist David Cay Johnston for Tax Analysts. During the same period, the average income for the top 10 percent of Americans rose by $116,071, Johnston found.

 

To put that into perspective: if you say the $59 boost is equivalent to one inch, then the incomes of the top 10 percent of Americans rose by 168 feet, Johnston explained to Alternet last week. ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

Money Supply Accelerating | Alasdair Macleod | Safehaven.com

Money Supply Accelerating | Alasdair Macleod | Safehaven.com | Gold and What Moves it. | Scoop.it

The monthly figures for the US dollar components of Austrian, or True Money Supply, for February are now in. TMS plus excess reserves amount to the quantity of money that can be drawn down without notice, including time deposits that ...

 

"... the path of least resistance is simply to continue to issue more and more money (so long as it has any purchasing power). The alternative, permitting the collapse of the banking system, businesses and even government itself, is unpalatable. Meanwhile, the dollar has a brief window of zero interest rates before the effect of excessive increases in money quantities on prices graduates from inflating asset values to inflating prices for food, energy and other consumables. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Peter Schiff Blog: Reckless Monetary Policy Is Causing Our Resources To Be Malinvested

"What he is doing with his reckless monetary policy is causing our resources to be malinvested. We’re spending too much on housing right now because of what Ben Bernanke is doing. He's bragging about the fact that we’re building more houses and home prices are up, but they’re only up because of the artificially manipulated prices thanks to the Fed, and all of this is a mistake and is going to be unwound in a very painful way." - an excerpt from The Dollar’s Collapse Is (Still) Coming

more...
No comment yet.
Scooped by Hal
Scoop.it!

Charles Hugh Smith: Why the Government Is Desperately Trying to Inflate a New Housing Bubble

Charles Hugh Smith: Why the Government Is Desperately Trying to Inflate a New Housing Bubble | Gold and What Moves it. | Scoop.it

The Federal government and Federal Reserve are trying to inflate another housing bubble to save the "too big to fail" banks from a richly deserved day of reckoning.


If we want to understand why the U.S. government is doing its best to inflate another housing bubble, we must start with the Devil's Pact partnership of the government and the "too big to fail" banks. Simply put, the TBTF banks would not exist without the Federal Reserve and Federal government bailouts, subsidies and protection from transparent marked-to-market pricing of the banks' collateral and risk. The basis if this partnership is simple: the banks' enormous profits and financial power have enabled them to capture the regulatory machinery of the government (the Central State) and the political machinery controlled by its elected officials. To understand the true meaning of the housing bubble, we need to understand how banks reap outsized profits. In classic capitalism, banks earn profits by maximizing the allocation of capital. In practical terms, this means lending money to low-risk, high-growth, high profit-margin enterprises, and avoiding lending to high-risk, low-margin enterprises. In the industrial era, banks reaped profits by funding large, centralized industrial corporations. In the post-industrial economy, banks began skimming huge profits from credit cards and other consumer loans. Mortgages remained a low-risk, low-yield business that operated more like a utility than an investment bank. ...
Hal's insight:

Click through for the rest. But did you can't that last paragraph I posted from him? "banks... skimming huge profits from credit cards..." Get out of debt people. You are a slave otherwise.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Australia's big miners add more driverless trucks | MINING.com

Australia's big miners add more driverless trucks | MINING.com | Gold and What Moves it. | Scoop.it
Companies want to reduce costs and protect profits against future price dips.

 

by Kerry Hall:

 

Australia's biggest mining companies plan to add more driverless trucks to their operations in the western Pilbara region to reduce costs and protect profits against future price dips, reports the Australian Broadcasting Corporation.

 

Rio Tinto (ASX: RIO, LSE: RIO) said its program for autonomous — a.k.a. driverless — trucks was well advanced and it has three mines deploying them.

 

The company said its mine automation is focused on improving cost competitiveness and efficiency.

 

At the Yandicoogina open-pit mine, Rio has 10 driverless trucks in full operation. ...

more...
Keith Clark's curator insight, July 13, 2014 11:21 PM

Removes the need to monitor driver fatigue levels but also removes the need for drivers and must increase the safety risks. Sometimes a set of eyes is needed!!!

Alex North's curator insight, March 24, 1:11 AM

I understand how it is important for companies to reduce costs. However I am uncertain of the safety factors revolving around driverless trucks. Although human error is commonly the cause of an accident I believe on mine sites it is important for humans to be in those positions in order to react quickly to changing environments and situations. 

Scooped by Hal
Scoop.it!

New gold discoveries declining at accelerating rate – Mineweb

New gold discoveries declining at accelerating rate – Mineweb | Gold and What Moves it. | Scoop.it

The latest research from IntierraRMG shows that discoveries of new gold deposits has been in accelerating decline in terms of size and grade over the past few years.

 

by Lawrence Williams:

 

A new study from research and data provider IntierraRMG has pointed to a disturbing trend in terms of a decline in new global discoveries and in particular in gold grades.  According to a study which covers announced gold deposit finds over the past 10 years, this decline has been accelerating over the past four years and if the trend continues, which seems likely as the easier-to-find deposits have perhaps mostly already been discovered, then the future of global mined gold supplies will gradually become affected.  Indeed global production of mined gold has been plateauing and although running at or around its historic high levels, as the amount of new gold being found diminishes, then global production levels may not be sustainable beyond the next few years unless there is a dramatic turnaround in discoveries. ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

Reflections on Cyprus and gold - Mineweb

Reflections on Cyprus and gold - Mineweb | Gold and What Moves it. | Scoop.it

Gold has slipped back as a draconian deal has avoided bankruptcy for Cyprus, but a resultant decline of confidence in the Eurozone countries should ultimately be positive for gold


by Julian Phillips:


So a total collapse of the Cypriot Banking system was avoided with the cost so far being to loss of the Island’s second Bank, draconian Capital Control, the loss of its name as a “safe haven” for Russian capital and an economy being strangled for lack of liquidity and set on a deeply recessionary path. But small depositors are untouched but over €100,000 depositors have had all their money frozen with the prospect of losing 40% of it. This is not as clear a picture as we expect will become apparent later this week. Banks are closed until further notice.

 

We are waiting to see if there are any ‘ripple effects’ in Spain or Italy or the Eurozone as a whole. All the E.U.’s efforts will now be focused on stopping them, just as Spain is to report that they are not getting their deficit down to target levels, as the recession keeps reducing GDP and consequently debt-to-GDP ratios. It’s a ‘Catch-22’ situation as austerity causes more contraction and more contraction causes more austerity. Does the Eurozone inspire more confidence than just the “I will survive” level of confidence? It is this decline in confidence that is positive for global investors continued favouring of gold.

 

What is unavoidable is the inevitable consequence of the Cyprus crisis is that while it is tiny as a percentage of the E.U., the depositors in other debt distressed nations such as Spain, Italy and perhaps France will be easily ‘spooked’ ...


more...
No comment yet.
Scooped by Hal
Scoop.it!

"Focus On Gold's Value Rather Than Solely Its Price"

"Focus On Gold's Value Rather Than Solely Its Price" | Gold and What Moves it. | Scoop.it

Mark O`Byrne writes:

 

... Gold bullion had its third consecutive weekly rise last week and rose 1% to close at $1,607.60.oz.

 

Importantly, Cypriots and other Eurozone citizens who own gold saw the value of their holdings rise 2% in euro terms.

 

While the risk of financial meltdown in Cyprus has been averted, the risk of contagion in the Eurozone remains. Wealthy individuals, businesses and corporations will likely begin moving some of their deposits from banks in Spain and Italy thereby deepening the crisis in these countries and the Eurozone.

 

Burning senior bond holders could create contagion again in European debt markets and now in addition to that bureaucrats have managed to make depositors in periphery nations nervous about their deposits in banks. This could precipitate bank runs in Greece, Spain and Italy with obvious negative ramifications for the entire EU banking and financial system.

 

Cyprus is a little domino which has fallen and may knock the larger more important dominos of Spain and Italy thereby creating contagion in the Eurozone. Especially as the political backlash against the EU and Troika is likely to be substantial and could lead to more power being gained by parties and movements that advocate leaving the European Monetary Union and indeed the European Union. ...

Hal's insight:

Click through for the charts and the rest of the post.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Eric De Groot: Russian PM lambasts deal to rescue Cyprus

Eric De Groot: Russian PM lambasts deal to rescue Cyprus | Gold and What Moves it. | Scoop.it

Losses on many bank deposits through the mechanism of a bail-in have redefined depositors as lenders to the bank. As such, depositors will be recognized as potential contributors to the solvency of the bank under conditions of stress. 

Confiscation of deposits is a big deal. This decision opens the door to flight of capital as deposits of size begin the process of seeking alternatives and increases the likelihood of banks runs at the first sign of strain. ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

Major Indian Gold Dealer: Indians Are Now Targeting 25% Portfolio Allocation To Gold | Bull Market Thinking

Major Indian Gold Dealer: Indians Are Now Targeting 25% Portfolio Allocation To Gold | Bull Market Thinking | Gold and What Moves it. | Scoop.it
I had the opportunity to connect recently with one of the largest bullion dealers in India, Pushpak Bullions Pvt. Ltd., for a fascinating conversation on the Indian gold market.

 

For context, India is the world’s largest consumer of gold, with the majority of families storing their income savings in the form of gold jewelry, coins, or gram bars. When measured against the Indian Rupee, gold broke out to new all-time highs in late 2012 (see chart below).

 

Of great interest during my conversation with Pushpak Bullions, was theshocking rate at which Indian families are converting their investment portfolios into gold, and secondly, the firm’s scrambling decision to begin investing in North American gold mine production to secure future product availability. ...

more...
No comment yet.