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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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Spoiling the 'Great Employment News' | Mike Shedlock | Safehaven.com

Spoiling the 'Great Employment News' | Mike Shedlock | Safehaven.com | Gold and What Moves it. | Scoop.it

This article originally appeared on MarketWatch under the title Jobs numbers are far worse than they look.

 

I selected my title from a humorous comment on MarketWatch by reader "Homer Price" who writes"Mike, What are you doing ? Trying to spoil the GREAT EMPLOYMENT news. Just wait until next year when the Unaffordable Care Act kicks in. THE BEST IS YET TO COME ............................. "

 

There are other interesting comments as well. Inquiring minds may wish to take a look. Now for my article ...

 

Economists were surprised by the massive "beat" in today's reported job numbers. The unemployment rate dropped .2 to 7.7% and the economy allegedly added 236,000 jobs.

 

Is that what really happened? No not really.

 

According to the household survey (on which the unemployment rate is based) the economy added a healthy 170,000 jobs. However, a whopping 446,000 of those jobs were part-time jobs. Simply put, the economy shed 276,000 full-time jobs.

 

The BLS labeled those 446,000 part-time jobs as "voluntary". I am not so sure. ...

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Gold and Silver Rebound

Gold and Silver Rebound | Gold and What Moves it. | Scoop.it

Another day, another gun of the sell-stops. That's four days in a row. Most folks call it a rebound. 'Round these parts, we call it an FUBM!

First of all, what did we learn from the BLSBS? Well, of course, not much. That's by design. But if we pick at it a little bit, we find:

January numbers restated much lower.Full-time jobs declining by 77,000 while part-time jobs increasing by 102,000.The number of people working two jobs going up by 340,000.And the participation rate falling again as over 100,000 simply "left the workforce".

Hmmmm. Not so rosy after all, is it Mr. LIESman? No wonder your head's so shiny today! ...

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Google Puts 1,200 Motorola Jobs on the Chopping Block

Google Puts 1,200 Motorola Jobs on the Chopping Block | Gold and What Moves it. | Scoop.it
Citing high costs, competitive markets and declining profitability, Google (NASDAQ:GOOG) announced that it would be slashing 1,200 jobs from its Motorola Mobility division, a number which represents about 10 percent of the department’s workforce.
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So let me understand, the economy is improving?

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Gold's next bull run before year's end: GATA director Ed Steer | MINING.com

Gold's next bull run before year's end: GATA director Ed Steer | MINING.com | Gold and What Moves it. | Scoop.it

Director of the Gold Anti-Trust Action Committee (GATA) Ed Steer sat down recently with Larisa Sprott of Sprott Money News (SMN) to discuss the gold and silver markets, central bank purchases of gold.

We've got the highlights for you here.

Gold and silver markets:

 

Well, I think, you know, after the long “consolidation” we’ve had in the gold and silver prices for the last couple of years, lots of investors are getting nervous and worried about it. And, of course, you know, everybody’s talking about it, and I can’t say I blame them. And this endless gold supply is, a lot of it is just paper trading on the futures market and in the commodity exchange of New York, and it’s not indicative of true world supply and demand. And of course we’ve had that “usual suspects” manipulating the prices of the precious metals for decades now. This is nothing new.

 

But as far as the next run in the bull market is concerned, I’m expecting it anytime, because we, this big $120 price drop, or whatever it was, in the last month or so of trading was all paper on the COMEX. Nothing really happened in the physical market to warrant a sell-off of that proportion. But as you said in your question, the usual suspects can do pretty much what they want in the paper market. Of course, what happens in the COMEX’s futures market directly affects the price.

 

So I think that, as far as I’m concerned, we’re getting very close to the bottom of this move down, and I’m expecting the next move up to be certainly within the next few weeks or months, rather than having to wait another year or so. I don’t think that’s in the cards at all.

 

Nobody knows what the true free market price of gold and silver is, because it’s always been managed by the government or by the banking industry, and nobody knows what it is. And how far we are away from a free market price is anybody’s guess. Your reader is absolutely correct that the price of silver is hugely managed on the COMEX’s futures market, and it’s no secret on the Internet that the principal culprit in ...

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Turk: I’ve Never Seen Anything Like This In My 45-Year Career

Turk: I’ve Never Seen Anything Like This In My 45-Year Career | Gold and What Moves it. | Scoop.it

... “I believe that above ground physical bullion is in strong hands, but I think those behind the gold price suppression scheme think that they can probably dislodge some of that physical (gold), in order to keep the price contained.


But watching what’s happened here over the past 10 years -- every time the price suppression has pushed gold lower, the demand for physical has picked up.  It’s picked up in the coins, bars, and you see the big central banks buying.  There was an announcement that South Korea, a medium-sized central bank, just added to its gold position.


So the gold price suppression scheme players don’t understand that by lowering the gold price they are actually increasing the demand for metal.  And they are making their job that much harder in terms of this managed retreat that they have been doing for the past 12 years in trying to keep a lid on the gold price.


My expectation is gold is not going much lower. ...

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Charles Hugh Smith: Inequality and the Decline of Labor

Charles Hugh Smith: Inequality and the Decline of Labor | Gold and What Moves it. | Scoop.it

Inequality has many sources, but political and technological dynamics are key factors.


... I have long held that the greatest source of wealth inequality is political: those with great wealth have captured the for-sale machinery of governance, and "persuaded" the Central State to carve out quasi-monopolies and cartels that enable artificially high premiums. They also buy subsidies, exceptions and tax breaks for their income streams.

 This is the result of a dominant Central State and an electoral process that lives and breathes cash and lobbying. ...
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Job Creation Surges as Rate Tumbles to 7.7%

Job Creation Surges as Rate Tumbles to 7.7% | Gold and What Moves it. | Scoop.it
Job creation broke out in February, with the economy creating 236,000 positions as the unemployment rate fell to a 4-year low.
Hal's insight:

Since when is 236k jobs a surge? Only in the new normal. If you don't feel like the proverbial frog in the saucer of water... well, I can't do anything for you.

 

Going from 7.9 to 7.7 is not a tumble either. Not in my experience anyway. 

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Don Coxe: "Central Banks Are Busy At Work Creating The Next Big Bull Market In Gold" | Bull Market Thinking

I was able to connect with the legendary Don Coxe this week, chairman ofCoxe Advisors LLP, during a time in which investor sentiment in the mining and precious metals sector has reached levels of “despair and cynicism”,the likes of which Don has never seen before.

 

What was encouraging to note however, was that in response to investor sentiment, large mining companies are cutting projects and plans to build new mines—which according to Don, will extend and further heighten the next up-cycle, as well as create shortages in the metals later this decade.

 

Reflecting on the recent BMO Metals & Mining conference, Don explained that, “The new CEO of Barrick…promised that after they complete their last big project, which will be done in two years—they’re not going to be developing any new mines for a long time. You never once heard that kind of statement being made at a conference from 2003 to 2012…looking further out (because the commodity boom is still intact), we won’t be getting a new generation of mines being brought in 3-4 years from now. So the next shortages will probably develop later in this decade.”


Don further added that, “I have not seen such despair and cynicism like this before…I’ve been going to conferences for so long, and [in the past] there would be doubt expressed. But not the kind of throwing in of the towel which permeated this conference…[However], the old saying is that it’s always darkest just before the dawn…We have is pessimism now, [but] optimism will return. Optimism can be retained for a whole decade…therefore, the pullback that we’ve had is something I would regard as temporary, as painful as it is…This is the stuff of the next big bull market, but what you don’t know, is what the gestation period is.” ...

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ECRI's Achuthan: US Recession Began in Mid-2012 | Bloomberg | Safehaven.com

ECRI's Achuthan: US Recession Began in Mid-2012 | Bloomberg | Safehaven.com | Gold and What Moves it. | Scoop.it

Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, told Tom Keene and Sara Eisen on "Bloomberg Surveillance" this morning that a U.S. recession "began around the middle of last year.

 

Achuthan said, "the entire West is in the yo-yo years. They have all been having growth stair stepping down. It is very weak growth with higher cycle volatility which will give you more frequent recessions." ...

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Jesse's Café Américain: The Middle Class: Death By a Thousand Cuts - Is Nothing Sacred?

Jesse's Café Américain: The Middle Class: Death By a Thousand Cuts - Is Nothing Sacred? | Gold and What Moves it. | Scoop.it

Politicians from both sides of the aisle will swear pious oaths to protect and foster the well being of the middle class.  They will say that their policies and proposals are all designed for its betterment.  And yet the state of the middle class continues to dwindle into despair and disrepair. Why is this? 

It is not because of the predominance of a right or left ideology, of taxation and deficits and austerity. It is not because of the re-emergence of a perversion of the gospel, in the predestination of prosperity. We have seen all this before. It is not because in our comfort we have lost the sense of the imperative of common cause.

It is because of the overwhelming corruption of power, and of the cynical amorality of thoroughly modern political managers who worship power and personal wealth as ends unto themselves. 

It is driven by the allure of the monied interests, and their corrupt political bargains.  It is a child of the subornation of ...

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oftwominds-Charles Hugh Smith: Unpopped Housing Bubbles Abound

oftwominds-Charles Hugh Smith: Unpopped Housing Bubbles Abound | Gold and What Moves it. | Scoop.it

History suggests that we can anticipate the eventual popping of all remaining housing bubbles.


Though much has been written about the popping of the housing bubble in the U.S. and Ireland, remarkably little has been written about the many housing bubbles that remain unpopped. As a rule, speculative bubbles pop and revert to their pre-bubble levels, so we can anticipate the eventual popping of all remaining housing bubbles. David P., proprietor of the excellent Market Daily Briefing blog, recently shared two charts depicting housing markets in the European Union.
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Indian gold buyers embrace the web - GOLD NEWS - Mineweb.com Mineweb

Indian gold buyers embrace the web - GOLD NEWS - Mineweb.com Mineweb | Gold and What Moves it. | Scoop.it


by Shivom Seth

MUMBAI (MINEWEB) - 

 

Most Indian e-commerce companies active in the jewellery segment hope to double their sales this year as online shopping continues to gain traction in the country.due to the changing lifestyles of youngsters and an increase in earning power of their parents.

 

"During the Diwali season, we saw more than around 1,500 transactions on our website over a couple of days. This year, we are looking at hitting 3,000 transactions every week,'' said Mahesh Gupta, president of HariLal Jewellers, who owns a bullion souk in Mumbai.

 

He added that government or regulatory policies on gold would not help to curb gold sales or gold demand, and that most of it happens to have moved onto the net. ...

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Richard Russell - I’ve Never Seen Anything Like This In History

Richard Russell - I’ve Never Seen Anything Like This In History | Gold and What Moves it. | Scoop.it

With key global markets breaking to new all-time highs, and continued volatility in the gold market, today theGodfather of newsletter writers, Richard Russell, believes what we are witnessing right now in markets is unlike anything he’s ever seen in history.  Here is what Russell had to say to subscribers: “Yesterday history was made when the Dow rose to a new record high and finally confirmed the prior record high put in by the Transports.  The question now becomes -- what do we have here, a weird kind of bear market or a new bull market?”


“The honest answer is that in all my years of studying and dealing with the markets, I've never seen anything like the action since the 2009 bottom.  As a practice study, I rethought the whole 1920s series as if I was reconstructing the events of 1929.  Suppose, after the September, 1929 record high in the Dow, the Rails had turned up from the crash lows and had also risen to a new record high?  

 

Then suppose the Dow had followed, and the Dow had risen to a new all-time high?  Such action would have been puzzling, but what would analysts have called it?  My guess is that analysts would have simply called it “confusing and unprecedented.” ...


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And Now The Bill Comes For ObamaCare | Louis Scatigna, Author of The Financial Physician

And Now The Bill Comes For ObamaCare | Louis Scatigna, Author of The Financial Physician | Gold and What Moves it. | Scoop.it

Obamacare Taxes: IRS “determining who to audit and who not to.”

 

“It is unprecedented in recent history, the amount of responsibility the IRS is being given in an area that most people don’t think of as an IRS function.”

On Wednesday, March 5, Treasury Inspector General for Tax Administration J. Russell George tesified before the House Appropriations Committee. As part of his exchange with lawmakers, Mr. George was asked about the tax implications of Obamacare. 

 

As reported by POLITICO’s Rachael Bade:

 

“It is unprecedented in recent history, the amount of responsibility the IRS is being given in an area that most people don’t think of as an IRS function,” George said. Americans, he added, will have more questions about their taxes because of health care penalties or credits, flooding already busy call-in and walk-in tax help centers. “This is going to lead to problems, sir.”

And these resource issues are bound to spill over into tax fraud enforcement, where the IRS will have to do a cost-benefit analysis when determining which tax fraudsters to chase.

 

“They have to determine what enforcement mechanisms they’ll employ … how they go about determining who to audit and who not to,” George said.

 

You might already know about the twenty new or higher taxes in Obamacare.  What you might not know is that the non-partisan Government Accountability Office (GAO) says that the IRS has 47 new taxes and regulations to administer in overseeing Obamacare.

 

The IRS is not capable of doing all this, as the quotation above confirms. ...

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Biggest Wealth On Planet Now Entering Gold & Silver Markets

Biggest Wealth On Planet Now Entering Gold & Silver Markets | Gold and What Moves it. | Scoop.it

Today one of the wealthiest people in the financial world spoke with King World News about the shocking things that he witnessed at PDAC, and how the biggest money on the planet is now looking to get into the gold and silver sector.  Regarding PDAC he stated, “What was of interest to me was the level of panic present at the place.”  Rule also let KWN readers know invest to make fortunes right now in the gold and silver markets.


Here is what Rick Rule, who is the CEO of Sprott USA, had to say about creating great wealth:  “The opportunities that are in front of me are so fantastic that it’s hard to focus.  I am still interested in the developmental stage juniors, the ones that are financially accretive.  I am also focused on explaining to investors that the pullback in bullion prices, never mind the bullion related equities, is a sale.”

 

“It’s a cyclical decline in a secular bull market.  It’s very, very important for investors to understand that.  We like the uranium space.  We also love the palladium and platinum space.  As the outside market conditions appear to most people to be getting worse and worse, for us they are getting better and better.

 

As you know, Eric, we are not investment bankers in the classic sense, we are investors.  We are check writers, and we see a situation where goods are on sale across a broad spectrum where we participate....

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Yamada - 4 Spectacular Gold & Silver Charts

Yamada - 4 Spectacular Gold & Silver Charts | Gold and What Moves it. | Scoop.it

With continued volatility in the gold and silver markets, today King World News is pleased to share a piece of legendary technical analyst Louise Yamada’s “Technical Perspectives” report.  Yamada is without question one of the greatest technical analysts Wall Street has ever seen.  This information is not available to the public and we are grateful to Louise for sharing her incredible work with KWN readers globally.  


Please note the incredible charts Yamada has put together here.  It is important to know that this is only a portion of her report on gold and silver, and a tiny fraction of her latest 48-page monthly report which provides incredible coverage of the global markets.


Metals: Gold & Silver

 

By Louise Yamada Technical Research Advisors, LLC ("LYA")

March 8 (King World News) - We’ve had quite a few concerned client calls on Gold recently.  The Gold spot price (GOLDS- 1,576.23) declined as the weak technical profile discussed last month carried price down through 1,600 support to 1,564, which slightly breached the downward channel’s lower boundary, depicted herein last month, before bouncing back.  A kickback rally could carry up again toward 1,650-1,660, the upper channel boundary and the intersect with the 50- and 200-day MAs.  The larger question is whether Gold can hold critical two-year support at 1,539 (1,522 intraday).

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Jim Sinclair - Expect $1,000 Days In Gold As West Battles East

Jim Sinclair - Expect $1,000 Days In Gold As West Battles East | Gold and What Moves it. | Scoop.it

... Eric King:  “The volatility in gold that you expect to see, Jim, can you talk about that? 

 

Jim Sinclair:  “I believe you will see a $1,000 day (in gold), and I think you will see it on at least three occasions.  It’s not unimaginable if you go back to the market of the 1970s ... And it will happen because kicking and screaming, gold is going to drag the US into a position of a balanced balance sheet, or near-balanced balance sheet, if you assume that the gold the US claims to have in fact they do have, and the world will assume that....

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That will be something to see.

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Trust Your Instincts on Gold - Casey Research

Trust Your Instincts on Gold - Casey Research | Gold and What Moves it. | Scoop.it

 

By Dennis Miller, Editor of Money Forever


I recall a terrifying experience years ago. It was my last flight of the year, and I was headed home for Christmas. The plane was speeding down the runway to take off, when the pilot suddenly reversed thrust and slammed on the brakes; the plane shook like I have never experienced before as the pilot aborted the takeoff. As we stopped mere feet from the end of the runway and caught our breath, the pilot came on the intercom and announced, "I'm sorry to frighten you, ladies and gentlemen. I have been flying for many years. There was nothing on our instrument panel that says we have any kind of problem. It just did not feel right, and I want to have some things checked out before we go vaulting into the air."

 

We taxied back to the gate and several mechanics descended on the plane. Within ten minutes they made the announcement that the flight had been canceled due to mechanical difficulties. As I exited, I stuck my head in the cockpit door and exclaimed, "Captain, I will fly with you any time – thank you! I hope you have a wonderful Christmas season." As a seasoned traveler, it was probably the only time in my life that I was happy about having a flight canceled.

It just doesn't feel right

As of this moment, the business columns are blaring headlines about the Dow hitting a record high. At the same time, gold and gold stocks have been taking a beating. If you are like a lot of us at Casey Research and have sizeable positions in gold and silver, it can certainly be a test of courage and patience.

At times like this, it seems appropriate to review why we made certain decisions in light of new facts. Have things changed? Is it time to adjust our holdings?

 

As luck would have it, Federal Reserve Vice Chairman Janet Yellen sheds some light on the subject. Bloomberg's recent headline, Yellen Says Fed Should Press on With QE Amid Limited Risk, sums it up well. Basically she reiterated that the Federal Reserve will keep on purchasing $85 billion in government debt for the foreseeable future. OK, no changes here, folks; we will continue to spend money we don't have, and the Fed will cover us. ...

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Sinclair - Gold War Rages As Bulls & Bears Continue To Battle

Sinclair - Gold War Rages As Bulls & Bears Continue To Battle | Gold and What Moves it. | Scoop.it

Today legendary trader Jim Sinclair told King World News that when people look back in history, this will have been the greatest opportunity for investors in gold between now and 2017.  Sinclair also spoke about the Western central planners fighting against the primary trend.  Below is what Sinclair, who has been actively trading the markets for over half a century and whose father was business partners with legendary trader Jesse Livermore, had to say about what is now taking place and what to expect as the gold war continues to rage.

 

Eric King:  “Richard Russell talks about the Fed and Western central planners fighting against the primary trend in an attempt to stave off what should be a depressionary cycle.  Can you talk about their fight against that?”

 

Sinclair:  “The fight against that is basically a management of perspective economics.  The thesis that you can convince the public that everything is going to be fine, if you convince the public via the Dow Jones Industrial Indices at new highs, and mainstream media stories about the wonderful new housing market, about the great recovery in employment, the great future that we are looking at, and actually get them to believe it, the thesis would then say that you could prevent the recessionary and possibly depressionary pressures. 


That’s basically saying there is no economic law.  Economic law is only in the mind of a couple of Austrians, and they are wrong.  But the problem is they (the Austrian economists) are right.  There is economic law.  There are consequences. ...

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Governments Worldwide are Implementing Orwellian Gold Confiscation Today. You Just Haven’t Realized it Yet.

Governments Worldwide are Implementing Orwellian Gold Confiscation Today. You Just Haven’t Realized it Yet. | Gold and What Moves it. | Scoop.it

Bankers Have Flipped Monetary Truth Upside Down

 

Bankers have flipped the paradigm of monetary truth upside down today. People believe in fiat digital money that is, by definition of the term, counterfeit and have zero belief in money that isreal, and thus lasted over 5000 years of global history. In fact so few people today have an understanding of monetary history and truth that when I tell them that all money in wide use and circulation today is the equivalent of counterfeit money, even though this is true, they look at me like my beliefs, not their beliefs, are crazy. Hopefully this article will finally open some eyes and answer the question, “What is money and what is not?”

Executive Order 6102 Was Passed to Force Americans to Use Counterfeit Instead of REAL Money


In 1933, US President Franklin D. Roosevelt betrayed America and signed Executive Order 6102 into law, making physical possession of more than $100 of gold illegal and punishable by a $10,000 fine and 10 years of prison, to bail out the private Rothschild banking family that controlled and owned the Bank of England, because the Rothshchilds had counterfeited the Pound Sterling to finance World War I. Pre-WWI, the pound was 15% backed by gold reserves. Post-WWI, because the Rothschilds had created pounds of thin air backed by nothing and failed to maintain the gold standard, the pound was only 7% backed by gold reserves. Yet, the Rothschilds and the Bank of England refused to revalue the gold/pound exchange rate. However, back then, unlike today, people understood how money works, called the Rothschilds on their scam and started converting their heavily counterfeited and devalued pounds into gold at the pre-WWI gold/pound exchange rate, knowing that they were receiving more gold per pound than the gold reserves (backing the pound) held by the Rothschilds should dicatate. This is why the thought of a return to a monetary system of gold and silver money absolutely terrifies the criminal banking cartel so much. Note that this is completely different than the criminal banking cartel fearing gold ownership for ...

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The Mexican Standoff: Gold, Banxico and the Bank of England | Jan Skoyles | Safehaven.com

The Mexican Standoff: Gold, Banxico and the Bank of England | Jan Skoyles | Safehaven.com | Gold and What Moves it. | Scoop.it

Late last month it was reported that Mexico are going to organise an audit of their gold stored at the Bank of England.

 

Financial journalist Guillermo Barba, writes that that the Mexican Superior Audit of the Federation ("ASF" in Spanish) has made an official 'recommendation' that the Bank of Mexico "should "make a physical inspection with the counterparty that has the gold under its custody, in order to be able to verify and validate its physical wholeness and the compliance with the terms and conditions of dealing with this Asset..." It was verified by the ASF that this has never been done by Banxico."

 

It turns out the Banxico, aren't really even that sure how many gold bars they own.

 

Barba's concern, along with many other individuals and countries, is that the gold may not even be there. In documents received by Barba, from Banxico, reference is made to the London Bullion Market Association which he finds 'disquieting.' This is of course down to the fractional reserve system which large bullion banks operate on. This can, of course, only survive if the countries don't come running for their gold at the same time.

 

The gold stored at the Bank of England came under (weak) media scrutiny at the beginning of the year when Germany announced that it would be bringing back some of its gold, not from the Bank of England, but from Banque de France and the ...

Hal's insight:

This issue will not go away I think unless the gold is in each country's hands. And getting it there may result in something painful.

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China Preparing To Impose Bretton Woods II Gold Standard

China Preparing To Impose Bretton Woods II Gold Standard | Gold and What Moves it. | Scoop.it

With continued volatility in the gold and silver markets, today acclaimed money manager Stephen Leeb told King World News the Chinese accumulated a remarkable 1,500 tons of gold last year, and they are preparing to demand a second Bretton Woods type meeting.  This is a stunning interview because it lays out how the bulls will win the gold war, and how China will force that victory.  Here is what Leeb had to say in this exclusive interview, which is his most powerful ever:  “The flow of power and gold is going from West to East.  China may have accumulated a staggering 1,500 tons of gold last year alone.  China’s growth is now picking up steam as well.  What is really stunning is how much the yuan has increased in terms of international transactions.”


“The usage of the yuan in international transactions has been increasing at an unbelievable 170% per year.  That’s how fast the yuan has been increasing in terms of international transactions.  So goes the gold, so goes the power, and you can see it in the prominence the yuan is gaining.

 

The Chinese definitely have a plan here and that is to get control of gold....


Hal's insight:

China has been heading for this type of goal for a while now. It's coming sooner or later in some fashion.

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The entire Western world has now adopted "QE to infinity" with gusto « Jim Sinclair's Mineset

Jim Sinclair writes:

 

The entire Western world, once vocally critical of QE, has now adopted "QE to infinity" with gusto.

 

There is no way to avoid the consequences of debt monetization. The economic law is an axiom, and the consequences will occur.

 

Gold will trade at $3500 and above as it exercises it inherent characteristic via Gresham’s law in the BRICs central banks to balance the balance sheet of the most errant deficit. ...

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Gold bar sales in China jump twofold during Spring Festival - GOLD NEWS - Mineweb.com Mineweb

Gold bar sales in China jump twofold during Spring Festival - GOLD NEWS - Mineweb.com Mineweb | Gold and What Moves it. | Scoop.it

by Shivom Seth

MUMBAI (MINEWEB) - 

 

Though the world's second largest economy China grew at its slowest pace in 13 years in 2012, the Spring Festival celebrations by the Asian country showed that citizens were eager to leave it all behind and embark on a massive shopping spree.

 

As compared to last year, sales of gold bars for investment purposes reported a twofold increase. The decline in gold price on the international market was one of the main factors that triggered brisk sales of gold bars.

 

Retail sales at outlets monitored by the Ministry of Commerce increased 14.7% during the February 9 to February 15 period this year, as compared to the year ago festival period. Around $86 billion (539 billion yuan) worth of sales took place this year, according to the government. ...

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