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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oftwominds-Charles Hugh Smith: The Structure of Collapse: 2016-2019

oftwominds-Charles Hugh Smith: The Structure of Collapse: 2016-2019 | Gold and What Moves it. | Scoop.it
Leaders face a no-win dilemma: any change of course will crash the system, but maintaining the current course will also crash the system.
The end-state of unsustainable systems is collapse. Though collapse may appear to be sudden and chaotic, we can discern key structures that guide the processes of collapse.
Though the subject is complex enough to justify an entire shelf of books, these six dynamics are sufficient to illuminate the inevitable collapse of the status quo.

1. Doing more of what has failed spectacularly. The leaders of the status quo inevitably keep doing more of what worked in the past, even when it no longer works. Indeed, the failure only increases the leadership’s push to new extremes of what has failed spectacularly. At some point, this single-minded pursuit of failed policies speeds the system’s collapse.
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The Walking Dead = Metaphor of the Failing Western Fiat Currency Scheme

By California Lawyer | Tuesday, May 31, 2016 at 11:48 am
I’ll admit it.  I love The Walking Dead.  I even have some bobble heads of the characters that I picked up from Barnes and Noble.  But, what is the fascination with the goo-oozing zombies, the apocalyptic US South, the certainty of doom and miserable, painful death haunting each character, every single show?  

I finally figured it out!

The Walking Dead IS a metaphor of the Western fiat currency scheme, and the similarities make it a perfect propaganda tool to control the masses and show the futility of resisting one’s certain, doomed, fate.

Let’s peel back some layers!

The Collapse Scenario

   One of the protagonists, Rick, is a local police officer.  He, along with his partner Shane, are introduced as typical law enforcement officers, in a sleepy, small town setting in the rural country side outside of Atlanta, Georgia. 
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Housing Market Hyper-Bubble-Fabian Calvo | Greg Hunter’s USAWatchdog

Housing Market Hyper-Bubble-Fabian Calvo | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
Real estate expert Fabian Calvo says cheap money flooding into the housing market means we are nearing the end of the road for the current housing boom. Calvo explains, “What they have come up with now, through the Obama Administration and many other projects, is they have these down payment assistance programs, which is the federal government giving money to these local agencies.  So, in essence, it is a no-money-down loan to fuel this housing bubble, which is really starting to verge on a ‘hyper-bubble’ like we see in the stock market today.  It’s amazing to see what is happening and see it all repeat again.  It’s going to spill over into this election year, and we will continue to see prices go up.  We have these cheap interest rates and cheap money that has no value that is creating this artificial boom. . . . We are at the last and final stage of this current housing cycle, and that’s where the prices will take off exponentially as will the access to cheap money.”
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"If You've Got Gold, You've Got Money; If Not, You've Got A Problem" | Zero Hedge

Submitted by Rory Hall via SprottMoney.com,

Akin to ancient Rome, the United States has over-extended herself. She has created a climate that could easily be transformed into a war on a slight pretext. Wars, as it is well known are also a means a nation can extricate itself from debt and financial responsibility.
– The U.S. Endgame, Jeremiah Johnson (nom de plume, retired U.S. Special Forces, excerpt from Zero Hedge
One would have to be blinded from either denial or ignorance not see the escalating political and military tension between the U.S. and Russia/China. While the U.S. media spins the story into a tall-tale in which BRIC nation leaders are the provocateurs, the truth is that the U.S. has transformed its illegitimate “war on terror” into war on the world in a last-gasp attempt hold onto the economic and geopolitical hegemony it has enjoyed for several decades.
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Trump’s Right——Paying Back The National Debt With “Discounts” Is Already Official Policy

Trump’s Right——Paying Back The National Debt With “Discounts” Is Already Official Policy | Gold and What Moves it. | Scoop.it
The Wall Street traders are all-in on the scam. The marginal bond price is “discovered”, in fact, when fast money traders buy the stuff on 95% repo leverage while front-running the central banks.

So Donald Trump’s wild pitch in this instance can’t hold a candle to the truly scandalous arrangement under which Uncle Sam’s debt is actually priced. Even the treasury debt in commercial bank vaults is mainly there because regulatory authorities permit the fiction that it is risk free and therefore require zero capital backing.
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Man Who Has Become Legendary For His Predictions On QE Warns The World Is Now At A Major Tipping Point - King World News

Man Who Has Become Legendary For His Predictions On QE Warns The World Is Now At A Major Tipping Point - King World News | Gold and What Moves it. | Scoop.it
Egon von Greyerz continues:  “But both Ponzi and Madoff were small time crooks compared to governments and central banks today. Because whether we take, Japan, China, the EU or the USA, they have all created Ponzi schemes which are exponentially bigger than what Ponzi did. Admittedly no government is promising the 50% return that Ponzi did or Madoff’s 10-12%. Instead they are giving investors of their “Ponzi” bonds the illusion that they will receive the capital back. To paraphrase Mark Twain, investors are neither going to get the return on their money nor the return OF their money, at least not in real terms.
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Click through for the rest. This is why the gov decoupled gold from the dollar; the ability to run the ponzi.
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Paul Craig Roberts - Corrupt Central Banks Now Support Global Fraud And Massive Financial Manipulation - King World News

Paul Craig Roberts - Corrupt Central Banks Now Support Global Fraud And Massive Financial Manipulation - King World News | Gold and What Moves it. | Scoop.it
Dr. Paul Craig Roberts:  “The same factors that produced that 2008 crisis are still there.  So the question is:  When does it (the financial crisis) manifest (itself) again?  What sets it off and why won’t the Fed simply do the same thing (paper over the problem)?  Just create more money and buy up the bad instruments and keep the situation from ever being (properly) fixed.
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oftwominds-Charles Hugh Smith: No Wonder We're Poorer: Wages' Share of GDP Has Fallen for 46 Years

oftwominds-Charles Hugh Smith: No Wonder We're Poorer: Wages' Share of GDP Has Fallen for 46 Years | Gold and What Moves it. | Scoop.it
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The FED system of banking is working wonders.
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Most Dangerous Stock Market In History-Michael Pento | Greg Hunter’s USAWatchdog

Most Dangerous Stock Market In History-Michael Pento | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
By Greg Hunter’s USAWatchdog.com

Money manager and financial expert Michael Pento says every corner of the globe is in economic trouble. Pento contends, “I think we are going to have a global synchronized collapse amongst the developed world economies: Europe, Japan, the United States and China, and you should be hedging against this market. Don’t forget, we have the most overvalued, most dangerous stock market in the history of the world. . . . Record valuations sit on top of an unprecedented earnings and revenue recession. The only thing we have left is the promise of ZIRP, QE and negative interest rates that don’t work. All they do is inflate asset prices. You should be short the market, and you should be long precious metals.”
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In The News Today :: Jim Sinclair's Mineset

Dear Friends,

Two questions:

In the Puerto Rico default what happened in the universally feared Chapter 9 Bankruptcy that would end the life of the Muni bond market?

Well apparently according to some, an island has no such relief if the USA owns it. Puerto Rico has a person in congress as an observer, but no Senator. Long Island, another playground of the sociopathic 1%, better not get Trump angry with them. Fire Island is toast if you hear someone say President Trump. Thank goodness it is said that a President was born in Hawaii.

Here is another important question. Is today the day someone somewhere figured out what Jim is up to or what they have considered scary risk is actually outrageous opportunity?

Regards,
Jim
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SharpsPixley.com | Live Gold Prices, Gold Charts and Gold Headlines

There will be arguments as to which came first – the overnight rise in gold price on global after-hours markets, or the Shanghai Gold Exchange (SGE) pm fix – but the latest SGE figure of CNY 261.88 was at the higher end of trading being equivalent to around US$1,258 at the current CNY/USD exchange rate.  Whether the SGE gold fix is leading, or following, the general price trend is thus open to question.  But perhaps the principal driver of the overnight rise in the gold price will have been the fall in the US dollar, with the Japanese central bank keeping its monetary policy steady at its latest meeting.  The Japanese yen thus rose around 2% against the US dollar, which has a significant impact on the US Dollar Index, which fell around two-thirds of a percent.

Needless to say, though, the move above the $1,250 level, which had been strongly resisted on the U.S. and London spot markets yesterday, was breached in the overnight trade.
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oftwominds-Charles Hugh Smith: America's Entitled (and Doomed) Upper Middle Class

oftwominds-Charles Hugh Smith: America's Entitled (and Doomed) Upper Middle Class | Gold and What Moves it. | Scoop.it
The upper middle class is well and truly doomed by self-delusion and the pathology of entitlement.
Two recent articles describe America's entitled (and doomed) upper middle class: the top 5% of households with incomes above $206,500 annually and individuals with incomes of $160,000 or higher annually. (source: Historical Income Tables: Households Census.gov)
The first describes how businesses are responding to the new Gilded Age in which spending by the top 5% has pulled away from the stagnating bottom 95%:

In an Age of Privilege, Not Everyone Is in the Same Boat Companies are becoming adept at identifying wealthy customers and marketing to them, creating a money-based caste system.
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In The News Today :: Jim Sinclair's Mineset

In The News Today :: Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it
My Dear Pensioner,

You must face the absolute and incontrovertible fact that you are going to be redundant from the majority of your pension, left out in the cold to starve and die, thereby reducing the need of funds by social security, medicare and your pension company. If you are not worried you simply are in total denial.

Do not even think about retirement. If you are retired think about a job. Those that will make it through this experience alive and sane are the already subsistent and those so poor now that they are used to it.

Jim
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You know what I think. I think one needs to be really careful with who they trust to hold their wealth. 
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Reversing gold flows could lead to Perfect Storm

Reversing gold flows could lead to Perfect Storm | Gold and What Moves it. | Scoop.it
For the past four years, physical gold has been flowing in large quantities from West to East, depleting Western warehouse stocks – some would suggest to crisis levels.  A significant amount had come from the running down of holdings by the gold ETFs, without which the predominantly Asian intake, dominated by Indian and Chinese imports, would not have been able to be satisfied without a big increase in the gold price.  If that had occurred, it would probaly have interrupted the flow pattern with the ETF liquidations falling off and the price-sensitive part of Asian demand also being reduced. 

A recent Commodity Spotlight report on precious metals from Germany’s Commerzbank’s analysts see: Gold demand moves from east to west sets this pattern out well, but we’re not sure its conclusions are entirely correct. It also perhaps was prepared too early to pick up on the latest Swiss gold import and export data which would seem to confirm the pattern indirectly.  See: Switzerland gold data raises new doubts about London’s gold stocks.  This article points out that in April Switzerland was comfortably a net importer of physical gold from Hong Kong and from the United Arab Emirates when normally gold flows are strongly in the other direction. This suggests that demand normally serviced by the gold sellers in these two important areas had slipped sufficiently for the traders to be reselling excess stocks – presumably at a nice profit given the rise in the gold price that month – back to the Swiss refiners from whence the gold came in the first place, Switzerland being a key hub in international gold flows.
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oftwominds-Charles Hugh Smith: Here's Why All Pension Funds Are Doomed, Doomed, Doomed

oftwominds-Charles Hugh Smith: Here's Why All Pension Funds Are Doomed, Doomed, Doomed | Gold and What Moves it. | Scoop.it
There are limits on what the Fed can do when this bubble bursts, as it inevitably will, as surely as night follows day.
It's no secret that virtually every pension fund is dead man walking, doomed by central banks' imposition of low yields on safe investments, i.e. Zero Interest Rate Policy (ZIRP).
Given that both The Economist and The Wall Street Journal have covered the impossibility of pension funds achieving their expected returns, this reality cannot be a surprise to anyone in a leadership role.
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How Does The COMEX Fix This One? :: Jim Sinclair's Mineset

Dear CIGAs,

As you know, May COMEX gold which traditionally is a non-event was anything but this year. Last year, a total of 2,500 ounces stood for delivery, this year the number was 221,000 ounces. The amount standing on April 30 was 5.6 tons which steadily grew throughout the month to 6.89 tons. This “growth” throughout the month is something that has never happened before to my knowledge.

Now we get the first notice day for June and it’s a whopper! 15,493 contracts are standing for delivery which equates to 1.5493 million ounces or 48.193 tons (last year June had 26.3 tons stand for delivery which bled down during the month). COMEX claims 23 tons of registered gold. There appears to be 17 tons from prior months PLUS the 6.8 tons of May standing that this 23 tons will need to service. The 48 tons for June is EXTREMELY heavy, what will happen if June copies May and the amount standing grows by 20%. Where will this gold come from?
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Wealth Confiscation for the Digital Age: the New “Cash Tax” - Louis Scatigna, Author of The Financial Physician

Wealth Confiscation for the Digital Age: the New “Cash Tax” - Louis Scatigna, Author of The Financial Physician | Gold and What Moves it. | Scoop.it
Wealth Confiscation for the Digital Age: the New “Cash Tax”

by Brian Hunt • May 10, 2016

Wolf Street

Directly from your bank account.
“Negative interest rates” have become a phenomenon with economists and the media. But I’m writing to tell you something about negative interest rates you haven’t heard. You certainly won’t hear about it in the mainstream press.

What’s coming at you is a historic event. It’s something our grandchildren will hear stories about, much like the Great Depression or the Cold War. It could send the price of gold much higher in the coming years.

If you know what’s coming, it could mean the difference between having lots of free cash in retirement and barely getting by. And please remember this warning: Social Security will help even less than you think.

To understand the gravity of this moment, let’s cover one of the most bizarre ideas in the world…
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Click through for the rest of the article. This does indeed seem where we are headed. The FED already steals from our savings accounts with inflationary practices but that is not going fast enough. 
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Is there an actual definition for being employed?

Is there an actual definition for being employed? | Gold and What Moves it. | Scoop.it
The Labor Department has determined that 151 million people in the US have jobs. And that the unemployment rate is 5 percent.

You might be impressed by that until you look at who the government considers “employed” and how difficult it is to actually be “unemployed.”

This is going to get a little confusing, so hold onto your seats. But let me start by saying that the Obama administration didn’t set this policy. Both parties have enjoyed a mushy description of joblessness for decades.
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Click through for the rest. This is an important read for those using the employment numbers as a what to gauge the economy.
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Guest Post: "The Death Of The Gold Market", by Paul Mylchreest

Guest Post: "The Death Of The Gold Market", by Paul Mylchreest | Gold and What Moves it. | Scoop.it
By Turd Ferguson | Sunday, May 8, 2016 at 11:11 am
Our friend, Paul Mychresst, has written this extraordinarily comprehensive report on the current state of the global gold "market". His timing couldn't be better. As price holds firm against the extreme efforts of The Bullion Banks, it is absolutely critical that you take the time to read this tremendous summary of the current situation.

As you've often heard me state, the global gold "market" is much more vast than the Comex-centric analysts would have you believe. There are literally hundreds of moving parts that affect price...and the price "discovered" on the Comex has no direct relationship to physical supply/demand fundamentals.

This new piece from Paul Mylchreest is the sort of thing I would have loved to have written myself...if I had the time and expertise to do it! With Bullion Bank leverage soaring to extreme levels and paper obligations to deliver gold reaching heights unseen for years, it is CRITICAL that you take the time to read through this report.
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BHS collapse could cost pensions lifeboat £300m

BHS collapse could cost pensions lifeboat £300m | Gold and What Moves it. | Scoop.it

The boss of Britain’s pension lifeboat has told MPs the cost of BHS’s collapse could rise to £300m if it has to foot the bill for the retailer’s thousands of pensioners.

Alan Rubenstein, the chief executive of the Pension Protection Fund (PPF), said that the fund had estimated the cost to be around £275m, but this could rise to £300m as the number was based on estimates in 2012.

BHS collapsed last month with a £571m pension deficit and putting 11,000 jobs at risk.

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Click through for the rest. This is yet another pension at risk story. Pensions really are at risk around the globe. And when the pensions fail the next step is the bank accounts.
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Have You Been Damaged By the Manipulation Of Gold And Silver ? :: Jim Sinclair's Mineset

Dear CIGAs,

I have been exploring and analyzing the present and proposed litigation of Gold and Silver Precious Metals (PMs). I have reached some conclusions and want to share my views and offer you an important opportunity to join with me to address this problem in a never before used litigation approach.

Are you a PM share investor? … A PM producer? … A company whose business was injured as a result of the manipulation and suppression of the price of Gold or Silver? If so, please email me as soon as possible, and provide contact information for me to confer with you. If your entity meets the above criteria, I will speak with you personally as soon as possible.

I have investigated Class Action Suits, and other conventional causes of action. I have not been satisfied by my findings. We not only need a cause of action, we need a prevailing case. We need a winning plan of action, not just another law suit on top of the heap of other emerging law suits.
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Gold Leaves $1,250 in the Rear View Mirror - Daily Reckoning

Gold Leaves $1,250 in the Rear View Mirror - Daily Reckoning | Gold and What Moves it. | Scoop.it
And now… today’s Pfennig for your thoughts…

Good day, and a marvelous Monday to you!

Well, today is starting out slow, as most of Asia, and Pan Asia is closed for holidays, as is a lot of Europe, as they still celebrate May Day, which fell on a Sunday, so naturally, they take Monday off. And I don’t believe that things in the U.S . will get hopping wild today either, unless the ISM Manufacturing Index which is scheduled to print, has a rabbit in its hat…

There are a ton of Central Bankers globally, out on the speaking circuit, headlined by the European Central Bank (ECB) President, Mario Draghi, who is probably going to throw the euro under the bus, as the currency trades nearer the 1.15 handle than it does the 1.14 handle this morning. There are a couple Fed members that will speak, and it will be interesting to see if they sing from the same song sheet. Historically, they don’t, but maybe this time they can share the same song sheet.
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Very Big Correction For All Markets Coming-Alasdair Macleod | Greg Hunter’s USAWatchdog

Very Big Correction For All Markets Coming-Alasdair Macleod | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
By Greg Hunter’s USAWatchdog.com  (Early Sunday Release)

Financial expert Alasdair Macleod says the most important economic news concerns the U.S. dollar. Macleod explains, “I think the most important point is actually the dollar has turned.  The panic move into the dollar by miners and producers of raw material . . . was driving the dollar up. That has now ceased.  China has now started buying those raw materials, base metals, oil and so on and so forth.  So, the result is the commodity crisis is over.  That, actually, is the biggest driver of the dollar, which is pushing it down.”
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Jesse's Café Américain: The Next Battleground for Gold Will Be At 1550 If the Cup and Handle Formation Completes

Jesse's Café Américain: The Next Battleground for Gold Will Be At 1550 If the Cup and Handle Formation Completes | Gold and What Moves it. | Scoop.it
If and when gold breaks out of this cup and handle formation, which is a matter of probability and not certainty, the next real battleground in a new bull market will be around $1550. One of the more interesting variables will be the manner of any breakout, and the 'time' it takes to reach a minimum measuring objective.

This is quite appropriate as 1550 marks the major support level for the channel in which gold had been moving prior to the recent bear market.

A successful cup and handle formation, should this occur, would mark a bottom for gold and quite possibly a resumption of another leg of the bull market.

It will be interesting to see how the future movement of gold as a cross to the US dollar may unfold. If the money masters were wise, they would permit it to rise back into the old trend channel and seek to find a balance in the wagers with the available physical supply.
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The Chances Of A COMEX Default... (Public Article) :: Jim Sinclair's Mineset

…IS GUARANTEED in my opinion!

Dear CIGAs,

I would not normally write something like this but it seems I had to. Last week, Bob Moriarty of 321 Gold wrote a story with the exact same title http://www.321gold.com/editorials/moriarty/moriarty041916.html and came to the conclusion “…is zero”. He began his article by saying “So anyone telling you Comex is about to default either doesn’t have a clue as to how commodity markets work or they are deliberately lying to you.”

He then goes on to say “But the chance of a ‘Gold Derivatives Time Bomb,’ is also zero. There is no such thing. And there is no such thing as a ‘Commercial Signal Failure’ or a 400 ounce gold bar made of tungsten.” Is he serious? When well over 100 pieces of paper “call” on the one underlying real ounce …there is no chance of failure? Is he trying to say the commercials can NEVER ever be wrong and forced to cover because they cannot deliver “promised” but non existent gold? Is he trying to say 400 ounce tungsten bars have not already turned up? I do want to point out, this is the same man who said a derivatives blowup can never happen. I think those at Bear Stearns and Lehman Brothers would beg to differ with him! We already know for a fact, we were only hours away from a total financial meltdown in 2008 were it not for the Fed magically creating $16 trillion. It is clear to me, since the amount of global derivatives far exceed the underlying assets they represent, true “settlement” or “performance” is a foregone impossibility as the “pie” only gets bigger. The only question now is “how big is TOO big”?
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