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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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Goodbye to Liberty | Alasdair Macleod | Safehaven.com

Goodbye to Liberty | Alasdair Macleod | Safehaven.com | Gold and What Moves it. | Scoop.it
by Alasdair Macleod:

The human race, in its advanced economic form, is committing euthanasia. The US, UK, Europe and Japan are all implementing economic policies that must ultimately result in the complete destruction of their currencies; and if you destroy the means of exchange of goods and services, your people will starve. The political class and government establishments have drifted in incremental steps into this tragedy. Far from being the guiding hand for society, they are its destroyers.

We all look to government to supply what we used to provide for ourselves, in the naïve belief that it is our servant, it has our interests at its heart, and that it can deliver. Collectively we have chosen not social co-operation, but the disintegration and ultimate destruction of society itself. We labour under so many misconceptions about where our true interests lie that we have completely lost our bearings. We have in our time witnessed other nations destroy their own economic and social structures and do not see it happening to ourselves. ...
Hal's insight:

Interesting op-ed from Macleod. Click through for the rest.

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Gold fever strikes German retail investors | MINING.com

Gold fever strikes German retail investors | MINING.com | Gold and What Moves it. | Scoop.it
69% of Germans have invested in gold, with around half of them keeping bullion in their own homes

by Marc Howe:

"'Despite the relative health of the German economy compared to its beleaguered Mediterranean peer states in the EU, average Germans are investing in physical gold en masse due to concerns over their fiscal well-being.

"The Local reports that a new study by the Steinbeis Research Center for Financial Services has discovered that 69% of Germans have invested in gold, with around half of them keeping bullion in their own homes. 48% stash their gold in bank vaults, while 9% sequester their precious metals at the premises of specialized gold traders.

"The Teutonic enthusiasm for gold is also increasing, with the number of Germans who have a net monthly income in excess of EUD4,000 and express an interest in gold investment having doubled in the current year.

"On a per capita basis Germans own around 117 grams of gold each, while including gold securities the average German owns around EUD5,750 of gold. ..."
Hal's insight:

Somebodies getting worried.

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India to promote 'Paper Gold' to curb climbing imports

More and more gold based schemes were being planned by government to encourage investors to join schemes without investing in the physical commodity.

NEW DELHI(BullionStreet): Asia's third largest economy India is trying everything now to stop excessive gold imports, accounted for the high current account deficit of the country.

More and more gold based schemes were being planned by government to encourage investors to join schemes without investing in the physical commodity.

According to India's Mid-Year Economic Analysis tabled in Parliament Monday, gold-backed products will help the investor enjoy benefits of investment in the metal without investing in the physical commodity.

India is considering schemes like gold deposits, accumulation plans, gold-linked accounts and pension products to curb demand for the precious metal. ...
Hal's insight:

A sneaky form of removing gold from the hand's of the citizens.

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Our Path To Collapse Will Impact Everyone Around The World

Our Path To Collapse Will Impact Everyone Around The World | Gold and What Moves it. | Scoop.it
Dan Norcini tells Eric King:

"When you look at the decline in the value of the currency there in Rome. A common denominator in all of these civilizations is you first see it in morality. The moral structure or virtue of that empire declines.

"Its ethics begin to decline and decadence comes into society. That reveals itself in all aspects of society. It also reveals itself in the monetary system of those societies. During the days of Rome, what the authorities did, in order to counteract some of the decay in the civilization, was they began to resort to ‘coin clipping.’

"The reason they did that was they found a way to multiply the amount of money that was in circulation by shaving off tiny bits and pieces of the silver coins that were there. They could then (take those clippings) and mint more coins. ..."
Hal's insight:

The Fed and Gov think they can avoid the fates of past empires, past governments, I don't think so. Man's heart is still the same.

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Calif. Woman To Inherit $7 Million In Gold Coins - NPR

Calif. Woman To Inherit $7 Million In Gold Coins - NPR | Gold and What Moves it. | Scoop.it
Calif. Woman To Inherit $7 Million In Gold CoinsNPRA cleaning crew found the coins after the death of a reclusive man in Carson City, Nevada, earlier this year.
Hal's insight:

Now that's a nice inheritance.

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Peter Schiff Owning Everyone's Ass on C-span

Peter Schiffs a bad ass
Hal's insight:

Hat tip to https://twitter.com/jesseandclara

 

It's a bit of an older video but points continue to be valid.

 

I particularly liked the comment at the end about gasoline, jobs, and funny money.

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The Golden Truth: Industrial Production, The Fiscal Cliff And Socialism

The Golden Truth: Industrial Production, The Fiscal Cliff And Socialism | Gold and What Moves it. | Scoop.it
Dave in Denver writes:

"... The fact that there's record inventories of GM cars piled up on the dealer floors is likely the result of the Government triggering production in excess of end user demand. This is why, in my view, a big part of the reason that the industrial production number looks so robust for November. I only have the dealer inventory data for GM because that's all Zerohedge tracks and I don't have time to hunt down numbers for Chysler. But I would bet that there's a similar dynamic for Chrysler, which is 6% owned by the Government.

"This is all part of the insidious socialism that is engulfing our system. It's a massive transfer of taxpayer wealth that is going into the bank accounts of the upper management at GM and to the giant auto union at GM. This is not an anti-Obama/Democrat or anti-union rant. I'm just pulling back the thick cloud of gray smoke away from the headline data to show you what's going on. Not only does the economy look stronger from a production standpoint, but monthly auto sales also appear to be a lot more robust. ..."
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Eric De Groot: Most Will Live To See $3,500

Eric De Groot writes:

Any experienced trader knows that as long as NY dominates the paper price of gold, it will never, ever breakout after a Fed statement.

While anyone can expire unexpectedly, the vast majority of your readers under the age of 95 and eating their recommended daily servings of fruit and vegetable instead of deep fried twinkies will live to see $3,500 despite the emotional roller coaster of the AB delay. ...
Hal's insight:

Had to laugh at the images. Click through for his charts and the rest of his analysis. Laughing is good, fyi. ;-)

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oftwominds-Charles Hugh Smith: Essays in Fragility: Shadow Banking, Housing Inventory and Liabilities

oftwominds-Charles Hugh Smith: Essays in Fragility: Shadow Banking, Housing Inventory and Liabilities | Gold and What Moves it. | Scoop.it
by Charles Hugh Smith:

Denial doesn't change reality. It only cripples our response to reality.

Psychologists and behavioral economists have found that we deceive ourselves (conceal the truth) to serve our own interests. Perhaps this is why the mainstream ignores the Id Monsters in the shadows: shadow banking, shadow housing inventory and shadow liabilities.

Let's start with shadow banking. Shadow banks are hedge funds and other entities that engage in financial business without being banks. Shadow banking is now larger than conventional banking in the U.S.: via Zero Hedge: The Historic Inversion In Shadow Banking Is Now Complete.
The global picture isn't much different. Shadow banks control 5 times as many assets as public financial institutions. Note that most of the shadow banking sector is in the U.S. and Europe: ...
Hal's insight:

Click over for the full piece. Great article.

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China's influence on the global silver market has surged since the turn of the century | MINING.com

China's influence on the global silver market has surged since the turn of the century | MINING.com | Gold and What Moves it. | Scoop.it
Middle Kingdom set to become world's second biggest producer of the precious metal

In tandem with its economic resurgence China's position on the international silver market has changed dramatically since the turn of the century, with the Middle Kingdom expected soon become world's second biggest producer of the precious metal.

Kitco News reports that a new study on the Chinese silver market published by Thomson Reuters GFMS and commissioned by the Silver Institute says that China has transformed from a "relatively small player" on the silver market as recently as the 1990's into the world's second largest silver fabricator with a burgeoning share of both global supply and demand. ...
Hal's insight:

China has a much longer history with silver. They get it.

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Two Important Charts For Gold & Silver Investors

Two Important Charts For Gold & Silver Investors | Gold and What Moves it. | Scoop.it
By Egon von Greyerz Founder Mattern Asset Management on King World News:

"{... The US now has a National Debt of $16.4 trillion and over $225 trillion of Federal entitlement liabilities. With 125 million people on benefits and 22% unemployed the situation is more than serious – it is desperate.

With this desperate economic situation, most people expected a different reaction to the Fed’s money printing announcement on 12.12.12. But we should have learnt by now that markets always do what they should do but not when we expect them to. Gold and silver went up on the Fed announcement but sold off afterwards and continued to be under pressure. Let us just remember that all we are seeing are little wiggles in a major secular bull market in the metals.

It is always interesting to look at historical comparisons. When the Roman Empire started to fall in the 3rd century, the Roman silver coin, the Denarius, reflected a massive bubble economy that was coming to an end. Over 100 years, the Denarius fell by around 97% as reflected by the lower silver content. The in the late 4th century the silver content fell to zero which means that the currency became worthless. For the next 200 years the silver content of the Denarius reflected a devaluation of around 99%.(see chart below). ..."
Hal's insight:

click over for the second chart and the rest of his analysis.  "Little wiggles" I think is a great way to describe what's been happening the past several weeks.

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It's the real life equivalent of the old fable about the emperor having no clothes - TF Metals

by TF Metals:

"... How come no one besides ole Turd can dare say that QE is all about funding the federal deficit? The "dots" are all there yet no one seems to want be able to make the connection. Countless articles have been written about The Fed essentially owning the entire Treasury issuance past 7 years. The fiscal 2013 deficit is already tracking 20% ahead of 2012 and on pace for $1.7T and suddenly the Fed announces that they're supplying $85B/month ($1T+/yr) in new money...yet no one can see that this is direct monetization of the deficit and debt? It's surreal. It's the real life equivalent of the old fable about the emperor having no clothes. I look around and its as if no one else can see what I see. Bizarre.

"Oh, well, I for one choose NOT to bury my head in the sand and hope for the best. I will use my God-given observation and reasoning skills and think for myself, instead. This leads me to the financial protection of gold and silver and nothing The Cartels does can shake me from my positions. ..."
Hal's insight:

I'm begining to wonder if there's even an emperor. click over for the full piece. 

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The only reason why someone would sell a boat load of contracts in the thinly-traded Far East - Ed Steer

The only reason why someone would sell a boat load of contracts in the thinly-traded Far East - Ed Steer | Gold and What Moves it. | Scoop.it
Ed Steer:

"...The only reason why someone would sell a boat load of contracts in the thinly-traded Far East market is to affect the price...and generate more technical fund long liquidation so the shorts can cover. That's precisely what JPMorgan et al were up to on Wednesday evening...but how successful they were won't be known until next Friday's COT Report. What I found surprising was that there was no downside follow-through during the Comex trading session in New York."
Hal's insight:

Yup.

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Bernanke's Balance Sheet Ensures Disaster

Bernanke's Balance Sheet Ensures Disaster | Gold and What Moves it. | Scoop.it
Michael Pento writes:

As expected, Ben Bernanke officially launched QE IV with his announcement last week of $85 billion dollars worth of unsterilized purchases of MBS and Treasuries. In unprecedented fashion, the Fed also tied the continuation of its zero interest rate policy and trillion dollars per annum balance sheet expansion to an unemployment rate that stays above 6.5%. Now, pegging free money and endless counterfeiting to a specific unemployment figure would be a brilliant idea if printing money actually had the ability to increase employment. But it does not.

The Fed recently celebrated the fourth anniversary of zero percent rates and massive expansion of its balance sheet. However, even after this incredibly accommodative monetary policy has been in effect since 2009, the labor condition in this country has yet to show significant improvement. Last month's Non-Farm Payroll report showed that the labor force participation rate and employment to population ratio is still shrinking. Goods-producing jobs continue to be lost and middle aged individuals are giving up looking for work. This is the only reason why the unemployment rate is falling. I guess if all those people currently looking for work decide it's a better idea to stay home and watch soap operas instead, the unemployment rate would then become zero. ...
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Afghanistan faces airborne gold exodus | MINING.com

Afghanistan faces airborne gold exodus | MINING.com | Gold and What Moves it. | Scoop.it
Marc Howe writes:

Bullion sent via commercial plane flights to the money-laundering center of Dubai

Gold bullion is flying out of Afghanistan in increasing volumes under suspicious circumstances, with both Afghan and US officials concerned that they are witnessing a fresh wave of money laundering.

The New York Times reports that gold bullion is being taken out of Afghanistan via commercial plane flights with increasing frequency, with couriers sequestering staggering amounts of bullion in carry-on luggage or jacket pockets.

One courier recently brought 60 pounds of gold bars on board an early morning flight, whose total value is estimated to be in excess of USD$1.5 billion. Airport security forms indicate that 560 pounds of gold, valued at around $14 million, was removed from Afghanistan via passengers on commercial flights during the final two weeks of October alone. ...
Hal's insight:

My guess is that, like Marc notes, this has a lot to do with Iran and sanctions.

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China slashes rare earth mining rights in half | MINING.com

China slashes rare earth mining rights in half | MINING.com | Gold and What Moves it. | Scoop.it
China seeks to strengthen pricing ability on rare earth market

China's Ministry of Land and Resources has slashed its rare earth mining rights by around a half from 113 to 67 points.

The Morning Whistle reports that a new report by the research institute Jufeng Info Co., says that the new policy will raise the price of rare earths and is part of a bid to both strengthen China's pricing ability and reduce industry-wide irregularities. ...
Hal's insight:

China is going to start flexing some muscle.

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What has happened with gold in the last 11 years is not about gold, it is about the US paper dollar melting « Jim Sinclair's Mineset

What has happened with gold in the last 11 years is not about gold, it is about the US paper dollar melting « Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it
CIGA Mike wrote an eMail to Jim Sinclair that's worth reading. Here's a snippet:

"... Perspective is all important for SEEING what is happening right before your eyes BEFORE it is too late. What has happened with gold in the last 11 years is not about gold, it is about the US paper dollar melting away right before your eyes. What I am afraid will probably and unfortunately happen sometime in the next 11 years is the demise of the US paper dollar as we know it today. In my opinion, at that time when the mass population finally sees the truth, it will be all but too late. I would fully expect at that time the yearly trading range of gold could easily be equal to the total price of gold today and that would signal the demise of the paper dollar is within a year or two from that point. One should be able to see from all of this and from world history that here in America we are already over the “cliff” without a parachute. ..."
Hal's insight:

Click through for the full piece.

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We Are Headed To A Historic Collapse Of The Financial System

We Are Headed To A Historic Collapse Of The Financial System | Gold and What Moves it. | Scoop.it
Robert Fitzwilson tells King World News:

"... There are two likely resolutions to this death-defying monetary show. The first is that we experience an historic, catastrophic, global, monetary collapse caused by an unpredictable failure in the system. In that case, the central bank acrobatic team flies the global economy into the ground while never doubting the wisdom of their ways. Our monetary pilots, focused on maintaining formation with the Fed, plow us all into the economic terra firma.

"The second is that the academics and bureaucrats take us into a post-sovereign, post-money world. In so doing, they show us that central planning was the correct way all along. Past attempts were just bungled. Control is maintained, and a new world financial order emerges. The accrued obligations on the books vanish. The distribution of resources and wealth are controlled and allocated by a central power, not markets. ..."
Hal's insight:

So which side of the  paper money will land face up do you suppose?

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It's a Trap! - Casey Research

It's a Trap! - Casey Research | Gold and What Moves it. | Scoop.it
by David Galland:

Watching the price action of gold on Wednesday after the Fed announced it was going to double down on quantitative easing, it was hard not to conclude that the precious metals were at risk of another leg down.

After all, here was Capt'n Ben announcing that the Fed helicopters were going to drop an additional $40 billion a month, bringing the dollar deluge to a whopping $85 billion a month – $1.02 trillion a year – and instead of soaring, the precious metals barely squeaked out any gains at all.

Sure enough, confirming my fears, in the overnight markets heading into Thursday, the prices of gold and silver were both smacked down smartly.

That this happened immediately on the heels of the Fed's announcement was concerning enough, but it's actually worse than that.

I say that because earlier this week Mark Carney, the incoming head of the Bank of England, the equivalent of the Fed, made a speech essentially stating that upon assuming his new job, he, too, would be advocating a large and open-ended quantitative easing.

Ditto, the sure-to-be-elected new prime minister of Japan is basing his successful campaign platform on much the same idea – an unlimited amount of new quantitative easing. Likewise, the ECB is shifting toward an accommodative policy.

In essence, in a deliberate attempt to spawn a global wave of inflation, it became clear this week that the Western world's major central banks have fallen lock-step behind a coordinated policy of extraordinary and unprecedented currency debasement. ...

Yet, gold and silver take it in the neck. What's going on?
Hal's insight:

Click through for the rest. Good read.

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Nigel Farage On The Queen’s Tour of Britain’s Gold Vault

Nigel Farage On The Queen’s Tour of Britain’s Gold Vault | Gold and What Moves it. | Scoop.it
Eric King: “Nigel, countries have been looking to repatriate their gold because of concerns their gold has been leased out in some sort of US/Britain Ponzi scheme, where they are using paper leasing tactics and moving the countries gold they are (supposed to be) storing out of those vaults. We just had the Queen tour the vault and it was fascinating the timing of that because there is this move to repatriate the gold, your thoughts on that?”

Farage: “Yes, that was a very symbolic move wasn’t it, the Queen doing that? To sort of feel that at least we’ve got some gold in this country. Yes, I’ve read and thought a lot and there are certainly several American commentators pointing out that there may well be, in terms of gold reserves and their reality, a huge fraud going on.

I don’t know. But I’m just struck that if you look over the last 10 to 15 years, the clever governments have been buying gold, and the idiots have been selling gold. And those that buy gold don’t just buy paper, they make sure they’ve physically got the stuff.”
Hal's insight:

Click over for the full interview. Farage has some great things to say.

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Manipulated And Confused Markets | Chris Ciovacco | Safehaven.com

Manipulated And Confused Markets | Chris Ciovacco | Safehaven.com | Gold and What Moves it. | Scoop.it
Chris Ciovacco writes:

"... Are there concerns? Sure, we always have concerns. The major concern is that manipulated markets are confused markets. What would bonds be worth if the Fed was not artificially suppressing interest rates? What would PE multiples and stock prices look like without low interest rates and mega amounts of printing money being pumped in the global financial system?

"The confusion of market participants has created a situation where "buy signals" and "sell signals" are occurring closer and closer together as measured in days. We currently have buy signals in place, but sell signals could appear in short order. The concepts of triangles, confusion, and short-durations between bullish and bearish signals are illustrated on this chart of semiconductors vs. bonds. Many markets look confused and have similar triangles. ..."
Hal's insight:

Chew on that for a bit.

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Twitter / libertycrucial: Interest rate rigging/Money ...

Hal's insight:

Yup.

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India importers still opt for cheap Thai Gold

India's duty hike means importing gold jewellery directly from select countries such as Thailand will be cheaper than buying gold in India.

NEW DELHI(BullionStreet): Taking advantage of India's free trade agreement (FTA) with Thailand, some importers are engaged in gold trafficking from the Southeast Asian nation.

Analysts said importers are opting for Thailand as duty on gold jewellery imported from there is just 2 percent compared to India's new 4 percent, because of FTA with that country.

India's duty hike means importing gold jewellery directly from select countries such as Thailand will be cheaper than buying gold in India. ...
Hal's insight:

Well, can you blame them?

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In housing debt we trust. | ZeroHedge

In housing debt we trust. | ZeroHedge | Gold and What Moves it. | Scoop.it
The assumption that households are doing much better simply because the stock market is up is really a problematic understanding of how wealth is dispersed across the United States. I vividly remember a handful of parties back during the peak of the bubble where people would often quote how much their net worth went up courtesy of the housing bubble. “My home that I bought in the 1990s is now worth over $1 million.” As all of you know, until you sell the home those gains are largely on paper and many did not sell. In fact, many tapped out large portions of that equity and spent it. This is why even with home prices moderately recovering US households still have close to record low equity in their homes. It probably does not help that low down payment FHA insured loans are such a large part of the market encouraging Americans to make the biggest purchase of their lives with very little down. The Fed reported last week on net worth figures and it is worth digging deep into the data.
Hal's insight:

click over to dig deeper.

 

I think there is some evidence of strength in the housing area but I have to wonder if it isn't just part of the illussion right now that the FED is working. 

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A 'very different' platinum market swings into 600,000oz deficit | MINING.com

A 'very different' platinum market swings into 600,000oz deficit | MINING.com | Gold and What Moves it. | Scoop.it
South African output falls to 11-year low after labour unrest.

The platinum market is forecast to move into a deficit of 400,000 oz in 2012 from a surplus in 2011 according to the interim 2012 Johnson Matthey platinum report released today.

Severe disruption to platinum group metal mining following a series of wildcat strikes and violence on mines that started in August is expected to reduce supplies from South Africa by over 600,000 ounces says the research house. ...
Hal's insight:

Questions is, do the industries that use it care at the moment?

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