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COMING TO A BANK NEAR YOU « The Burning Platform

Make no mistake about it, this will happen in the United States at some point in the not too distant future. This is theft pure and simple. If you think the money you have in banks is yours, read this story and realize they will abscond with it whenever they choose to change the rules. Do you think your 401k is safe from the grubby hands of the government? You are naive. The ruling class don’t care about rules, laws or good faith. They have already pillaged most of the wealth in this country and they will not hesitate to steal the money out of your bank account. Bankers and politicians in Europe will do whatever it takes to protect the interests of the rich and powerful oligarchs. The bankers and politicians in this country are no different.


It will happen on a weekend. They will shutdown the ATMs. They will shut down the ability to electronically transfer money. Banks will close their doors. They will not announce their intentions in advance. They will proclaim that their actions are being done for the good of the country. In reality, they will be stealing your money in order to maintain their control, power and wealth. This blatant act of criminality being committed against the citizens of Cyprus by the Eurocrats is a warning shot to all citizens of the debt saturated, banker controlled developed world.


If you are one of those who believe it can’t happen here, then you haven’t studied history. It was exactly 80 years ago this month when FDR announced a banking holiday and declared that possession of gold was immediately illegal. The government set the price at which American citizens would receive when they handed over their gold to the government. Federal agents broke into safe deposit boxes and took the gold. It is much easier to steal our wealth today. In an instant they can electronically vaporize your wealth. 


As the oligarchs grow more desperate they will grow more extreme in their efforts to retain power. This is why they are trying to take our guns. They do not want an armed populace resisting when they ...

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Lear Capital | Media | Articles - Stocks, Gold and America's New Crisis Economy

Lear Capital | Media | Articles - Stocks, Gold and America's New Crisis Economy | Gold and What Moves it. | Scoop.it

How about those stocks? There's no doubt that if you're in the market right now you've experienced some growth. That's good for your portfolio and good for the dollar. But investing is about cause, effect and timing ... and soaring stocks have opened up opportunities for gold and silver that we have not seen in several years.

 

Perhaps the most compelling aspect of precious metals is that they cannot be printed or manipulated by any government. They cannot be devalued by policy, pumped up by political agenda, or thrust into volatility by social unrest. They are time-proven investments that have been part of wealth building strategies for generations. If you've never found the opportunity to acquire the world's money ... now is a very good one.

 

We know stocks have hit record highs, and gold and silver have dropped in price. But, something else has become very clear ... we are living in a crisis economy. The White House has gone on record stating that "the Debt Crisis is not immediate," but when America's Debt is the largest in the modern world for any one country and our interest payments alone are roughly $1 Billion dollars per day, I am not sure what part of that is not pressing.

 

We started 2013 by barely escaping the tumultuous Fiscal Cliff and in the two months since then we have raised the Debt Ceiling once and enacted Sequestration cuts. In just two weeks from now we must confront the Continuing Resolution and a potential government shut down. Beyond that looms a mine field of monetary mayhem with another Debt Ceiling deadline in May and reaching the inconceivable $17 Trillion dollar US Debt benchmark, which we should hit sometime this ...

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Putin brands Cyprus saving levy as ‘unfair’ — RT Business

Putin brands Cyprus saving levy as ‘unfair’ — RT Business | Gold and What Moves it. | Scoop.it

The Russian leadership has lashed out at Cyprus’ plan to tax bank deposits. President Vladimir Putin called the initiative ‘unfair’, while Prime Minister Dmitry Medvedev drew comparisons with illegal forfeit.

 

If Cypriot authorities go ahead with the tax plan and levy every deposit placed in the country’s banks, it would be “unfair, unprofessional and dangerous,” Putin said, according to presidential spokesperson Dmitry Peskov.

 

The assessment was voiced during a special meeting with senior economic aides and officials on Monday, in which the situation in the eurozone and the Cyprus banking crisis were discussed.

 

The Russian Prime Minister Dmitry Medvedev was even harsher in his comments. “This looks like a forfeiture of other people’s money,” he told the RIA news agency, calling the decision strange and controversial.  ...

Hal's insight:

We are in a currency war, folks.

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Experts survey sees gold moving up next week | MINING.com

Experts survey sees gold moving up next week | MINING.com | Gold and What Moves it. | Scoop.it

by Anthony Halley:

 

For the first time in weeks, a majority of participants in the Kitco News Gold Survey predicted higher gold prices and many believe that gold is building a base in the $1,570 range.

 

25 gold dealers, investment banks, futures traders, money managers and technical-chart analysts took this week's survey on Friday and of those, 17 see prices going up.

 

A major reason for the expected rise is the latest US consumer price index data, which indicate inflationary pressures going forward. ...

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Is Gold a byproduct of earthquakes?

The gold is formed when a tremor splits open a fluid-filled cavity in the crust, causing a sudden drop in pressure, they added.

 

Gold could be the result of repeated earthquakes, according to a study published in the journal Nature Geoscience.

 

A group of Australian scientists said solid gold can be deposited in the Earth’s crust almost instantaneously during earthquakes.

 

The gold is formed when a tremor splits open a fluid-filled cavity in the crust, causing a sudden drop in pressure, they added.

 

This causes the fluid to expand rapidly and evaporate, and any gold particles that had been dissolved in it to “precipitate almost immediately,” said the team.

 

“Repeated earthquakes could therefore lead to the buildup of economic-grade gold deposits.” they said. ...

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Five reasons gold will hit an all-time record this year | MINING.com

Five reasons gold will hit an all-time record this year | MINING.com | Gold and What Moves it. | Scoop.it
Bullion enthusiasts seem to have come back to life.

 

by Cecilia Jamasmie:

 

Bullion enthusiasts seem to have come back to life after a recent survey among analysts showed a majority believes that gold is finally and steadily moving up.

 

Aubie Baltin, from 24hgold.com, is the latest one of them to ensure that gold will finish 2013 up, at around $1,880.

 

At those levels, the expert writes, gold prices would begin 2014 just shy of the all-time high set last year, close to the $1,900 mark, due to the following five reasons:

 

1) The Feverish Growth of Fiat Money: ...

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CFTC, communism and fixing the gold fix - Mineweb

CFTC, communism and fixing the gold fix - Mineweb | Gold and What Moves it. | Scoop.it

by Adrian Ash:

 

So, is the London gold fix a fix? US derivatives-market regulators think it might be.

 

The CFTC is no doubt absolutely within its rights to question the use of certain prices as reference points (aka "marks") in US transactions. Joining the International Roundtable on Financial Benchmarks three weeks ago, its commissioner Bart Chilton said he also thought many other markets might deserve attention, too. But quite what a Washington commission overseeing the US futures markets might achieve – or hope to – as regards the London Fixings as a process, however, we can't imagine.

What is the London gold fix, and why does it exist? The fixing exists because, in the physical bullion market, there isn't any single price at any one time. Instead, all the different bullion banks and dealers quote their own prices direct to their clients. So the deals they strike are unique, with no centralized "clearing house" or "recognized exchange" reporting those deals as some kind of official price. ...

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ATMs drained as bailout tax triggers run on bank deposits

ATMs drained as bailout tax triggers run on bank deposits | Gold and What Moves it. | Scoop.it
In a move that could set off new fears of contagion across the eurozone, anxious depositors drained cash from ATMs in Cyprus on Saturday, hours after European officials in Brussels required that part of a new €10 billion ($12.6 billion) bailout...
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Twitter / LearCapital: Commodity trader Norcini on ...

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So what if all markets are manipulated? This is what | Gold Anti-Trust Action Committee

So what if all markets are manipulated? This is what | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

Dear Friend of GATA and Gold:

 

Our pal D.M. conveys the following disparagement from a friend -- call him Doofus -- and asks for a reply:

 

"Central banks manipulate far more than just gold -- interest rates, stock markets, housing markets, etc. That's what they do. And so what? The gold price has gone up for the last 12 years, despite the 'manipulation.' So I don't see what's the issue. Even if Western central banks try to sell gold down, Eastern central banks are only too happy to accumulate at lower prices."

 

Contrast Doofus' "so what?" argument with the contemptuous and yet ridiculous denial given to CNBC yesterday by CPM Group Managing Director Jeffrey Christian that there is anything surreptitious or questionable going on in the gold market:

 

CNBC reported (http://www.gata.org/node/12333): "Jeffrey Christian, founder and managing director of commodities research firm CPM Group, was a lot more blunt about GATA, saying, 'I think they're outright liars. ... Pretty much what they do is nonsense.' Christian added that he believed there was no conspiracy among global central banks to collude over gold prices and that central banks are 'very transparent' about their monetary gold reserves."

 

Doofus says that what GATA trumpets is only obvious. But Christian not only denies what Doofus calls obvious but, in denying it, is considered an industry expert by financial news organizations.

 

So are central banks manipulating the gold market and other markets or not? Before disparaging GATA Doofus might try putting the question to Federal Reserve Chairman Ben Bernanke. If Doofus gets an acknowledgment of market manipulation, it will be international news.

 

Then consider whether, in democracies, governments should be lying to and misleading their people quite so comprehensively and whether it's really a matter of indifference even to Doofus himself whether any democracy or the world has free markets.

 

Yes, rigging markets is indeed what central banks do these days. That's what a high school graduate told GATA's Washington conference five years ago:

 

"Gold is only part of it. For market intervention is exactly why central banking was invented. Intervening in ...

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It's Going To End Badly | GE Christenson | Safehaven.com

It's Going To End Badly | GE Christenson | Safehaven.com | Gold and What Moves it. | Scoop.it

Jim Cramer from CNBC: "We all know it's going to end badly, but in the meantime we can make some money."Thank you Mr. Cramer for telling us the truth about QE and our economy.

 

Stan Druckenmiller, Legendary Hedge Fund Manager, on CNBC 03/05/2013: "I don't know when it's going to end. But my guess is it's going to end very badly."

 

The media encourages us to believe that practically everything in our economy is either good or getting better. Another way of stating the media hype is "all of our problems will be solved through the combined efforts of our capable politicians coupled with the wisdom and competent management of The Federal Reserve."


Seriously? Congress has a miserably low approval rating, for good reason, and the Fed is busy creating and pumping money into banks and the bottomless pit of government spending. Neither has much interest in small businesses or the average American.


What is going wrong? In no particular order, here are a few that come to mind ...

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Silver: Will Industrial Uses Increase Significantly | Ian Campbell | Safehaven.com

Silver: Will Industrial Uses Increase Significantly | Ian Campbell | Safehaven.com | Gold and What Moves it. | Scoop.it

 have always thought, and continue to think, that silver is a more difficult precious metal to 'figure out' than is gold. This is because:

approximately 70% of all new silver mined results as a by-product from the mining of based metals and other precious metals;

as I see things there has to be a relationship between the macro-economy and the mining of base metals, such that the macro-economic condition as it varies over time has to affect the the demand for, and hence the by-product supply of, physical silver over time.

That said, you might want to read a recent article that broadly discusses the build-up of silver usage in industrial applications including:

anti-bacterial, appliance, catalytic, clothing, consumer electronics to list but a few such applications; and,

increasing uses of physical silver in energy, food and water applications.

We are facing declining rates of growth in the developed and developing economies, which as I see things the financial markets currently seem to broadly be disregarding. Declining rates of economic growth suggest serious economic headwinds going forward. ...

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The Later, Greater Depression « Jim Sinclair's Mineset

by Jim Sinclair:

 

This article says, "The US encounters its most sluggish growth levels since the Great Depression." Huffington as a source is most credible.

 

Has it occurred to anyone that we might be in a later, greater depression that has been hidden by liquidity and MSM MOPE, but is in fact unfolding?

 

Remember what I told you on more than one occasion, "If you could have lied in 1930 at the level of government would the Great Depression have occurred?" I answered "Yes, later and GREATER."

 

That is exactly where we are. We are in the MOPEd, "Later and Greater Depression" right now. That is why QE must go to infinity or the house of cards falls. That is the substance in this article. It is not counties but rather countries.

 

This is why gold must balance the balance sheets of the worst deficit-debt offenders. Just like the why of QE, there simply is no other tool. ...

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Eric De Groot: Gold Is Ready

Eric De Groot: Gold Is Ready | Gold and What Moves it. | Scoop.it

As Jim suggests in his commentary "One Of The Most Important Events In History & Gold" 

“What’s just happened is the IMF has backed up, lauded, supported, and publicized, as if it were a victory, the taking of 10% of what really turns out to be 80% of Russian ‘black money.’ Russian ‘black money’ is KGB money, now in business. The leader of Russia (Putin) was a former KGB official. Who’s money do you think they have taken? This is the biggest mistake the IMF could possibly have ever made.” 

Could this be the trigger event that finally releases the potential energy stored deep within in the paper gold market?  Clearly Jim thinks so.  I would also suggest that gold has and would always be primed for the unexpected well ahead of any headline 'trigger' event that alters consensus expectations. ...

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Cyprus Gold...and Silver, too

Cyprus Gold...and Silver, too | Gold and What Moves it. | Scoop.it

TF Metals writes:

 

... This is a big deal, regardless of how Cramer and CNBS attempt to downplay it. Why? Fractional reserve banking. As depositors across Europe realize that they are potentially next in line for a similar (or worse) "haircut" if their bank fails, the realization will dawn upon them that keeping money in said bank, at 0% interest no less, is not a very good idea. As depositors begin to withdraw their cash, the entire fractional reserve system begins to seize up. ...

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The ATM use was a "run on the system" « Jim Sinclair's Mineset

The ATM use was a "run on the system" « Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

Jim Sinclair’s Commentary [on Cyprus]


The funds withdrawn in Cyprus by depositors via the use of ATM machines this weekend already had 10% deducted from the cash balance in the account by the banks.

 

The ATM use was a "run on the system" and not a trick to avoid the 10% confiscation.

 

Could, and would are two different things. Maybe a call from Russia has had an impact on Cyprus’ leadership.

 

Revenge can be a bitch when it is Russian style. LaGarde has made the mistake of her career. Central banks everywhere have put $4 trillion into the system to save it from the effects of the OTC derivative meltdown and the flushing of Lehman. $10 billion is about to blow that all up.

 

The greatest conspiracy in history may well end up being stupidity and hubris. It might be Europe’s consideration of Russian money as too Russian to care about.

 

The Fed will be swapping the hell out of the dollar from 11pm tonight forward.

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Ghana to establish 'Gold City'

Ghana, one of the leading gold producers in Africa is considering to establish a Gold City modelled along the lines of similar facilities in Johannesburg and Dubai.
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Fresh warnings of eventual financial system collapse | MINING.com

Fresh warnings of eventual financial system collapse | MINING.com | Gold and What Moves it. | Scoop.it
Paul Craig Roberts and Eric Sprott say the current financial system is headed for ruin.

 

by Anthony Halley:

 

Outspoken, controversial former Assistant of the US Treasury Paul Craig Roberts spoke yesterday about the problems that Western policymakers face and the inevitability of the current financial system ending in ruin.

 

"There are no economic policy solutions. You can’t deal with [the excessive money printing] by cutting spending because you already have high unemployment. How are you (the Fed) going to contain the inflation?  Are you going to jack interest rates up and wreck what little is left of the economy?  The whole thing is a disaster waiting to happen. And they (mainstream media and government officials) avoid it.  There is no talk about it.  It’s so obvious.  How can you not see it?  And yet they never mention it.  So I just feel compelled.  It’s my responsibility to mention it."

 

Roberts claims that the game of printing money cannot last and that there are already early warning signs that the US dollar is slipping in its role as the global reserve currency ...

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3 precious metal truths and their implications - Mills - Mineweb

3 precious metal truths and their implications - Mills - Mineweb | Gold and What Moves it. | Scoop.it

... Gold and silver are money, are the only true money. Today what is called money - fiat - is not money, it’s credit brought into existence by a computer key stroke ...

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Gold jumps over $1,600 on Cyprus bailout - Mineweb

Gold jumps over $1,600 on Cyprus bailout - Mineweb | Gold and What Moves it. | Scoop.it

Adrian Ash writes:


Wholesale gold leapt 1% against the Dollar and 2.3% against the Euro at the start of Asian trade Monday, as global shares sank and major-government bonds rose following the Cyprus bail-out deal announced by European politicians at the weekend.


"[German negotiators] were hand in hand with Finns," says an unnamed official quoted by theFinancial Times, "who were much more dogmatic" in forcing a levy worth €7 billion on ordinary bank depositors as part of the €17bn deal.

"Scenes of Cypriots lining up at cash machines raised the specter of capital flight elsewhere," says Bloomberg, while Reuters claims that today's Bank Holiday may be followed by a forced shutdown on Tuesday to allow parliament to discuss and vote on the depositor levy, priced at 9.9% of savings accounts over €100,000 and 6.7% below. ...

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Cyprus parliament delays vote on deposit levy to Monday

Cyprus parliament delays vote on deposit levy to Monday | Gold and What Moves it. | Scoop.it

Cyprus's parliament has postponed until Monday an emergency session to vote on a levy on bank deposits after signs that lawmakers might block the surprise move agreed in Brussels to help fund a bailout and avert national bankruptcy.

 

In a radical departure from previous aid packages, euro zone finance ministers want Cyprus savers to forfeit up to 9.9 percent of their deposits in return for a 10 billion euro ($13 billion) bailout for the island, which has been financially crippled by its exposure to neighboring Greece.

 

The decision, announced on Saturday morning, stunned Cypriots and caused a run on cashpoints, most of which were depleted within hours. Electronic transfers were stopped.

 

The move to take a percentage of deposits, which could raise almost 6 billion euros, must be ratified by parliament, where no party has a majority. If it fails to do so, President Nicos Anastasiades has warned, Cyprus's two largest banks will collapse. ...

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Hat tip to www.drudgereport.com 

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Spring Rally Directly Ahead for Gold Stocks | The Daily Gold

Spring Rally Directly Ahead for Gold Stocks | The Daily Gold | Gold and What Moves it. | Scoop.it

We have the majority of sentiment indicators showing more pessimism than in 2008, an explosion in negative news coverage and news that major banks have downgraded their outlooks. Without knowing anything else, you’d expect Gold to be down considerably, yet it’s only off about 5% year to date and 10% in the past three and a half months. Most important, Gold hasn’t even broken support!

 

Gold has failed to break below its 2011 and 2012 lows and that is a telling sign, especially in the face of this pervasive bearish sentiment. Gold looks likely to close at a four week high and we expect it to challenge $1600 in the coming days. A close below $1620 would essentially confirm that the bottom is in.

 

Meanwhile, the action in the mining shares has provided enough evidence that at the very least, a tradeable low is in. In recent writings we’ve noted the confluence of major support at HUI 336-337. The trendline connecting the 2000 and 2008 lows, the 62% retracement of the 2008 to 2011 cyclical bull and the 50% retracement from the 2000 low to 2011 high all coincided together very close the HUI 336-337. What was the recent low on the HUI? 337. ...

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Gold, silver price ‘fixing’: How it’s done | Investing | Financial Post

Gold, silver price ‘fixing’: How it’s done | Investing | Financial Post | Gold and What Moves it. | Scoop.it
London’s gold and silver markets face the possibility of a probe alongside other benchmarks into price setting, putting a century-old practice under the spotlight

 

... The setting, or “fix,” of the gold price in London dates back to 1919, originally involving NM Rothschild & Sons, Mocatta & Goldsmid, Samuel Montagu & Co, Pixley & Abell and Sharps & Wilkins. Silver price setting started in 1897.

 

Currently, gold fixing happens twice a day by teleconference with five banks: Bank of Nova Scotia-ScotiaMocatta, Barclays Bank Plc, Deutsche Bank AG, HSBC Bank USA, NA and Société Générale. The fixings are used to determine prices globally.

 

Chairmanship of the Gold Fixing rotates annually among the member banks.

At the start of each gold price-fixing, the chairman announces an opening price to the other four members who relay that to their customers, and based on orders received from them, instruct their representatives to declare themselves as buyers or sellers at that price.

 

The gold price is adjusted up and down until demand and supply is matched at which point the price is declared “Fixed.”

 

The fixings are used to determine spot prices for the billions of dollars of the two precious metals traded each day.

 

Buyers and sellers can get insight on price changes and the level of interest during the fixing process. They can cancel, increase or decrease their interest based on that information.

 

Gold and silver price setting has long been the subject of debate, and the CFTC looked at complaints about the silver market in 2008.

But most believe that the process is transparent. ...

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Hat tip to www.grandich.com 

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Eric De Groot: Debt Is Piling Up Everywhere

Eric De Groot: Debt Is Piling Up Everywhere | Gold and What Moves it. | Scoop.it

Federal debt held by foreign and international investors as a percentage of GDP has risen above 35%.  This is 137% higher than 2006.  This staggering rise in debt relative to national income can't be a concern since the stock market is near all-time highs and retail sales growth was better than expected in February.

All kidding aside, this upward acceleration of debt means significant economic, financial, and social consequences ahead, and contrary to the headline hype, higher gold prices. ...

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Five Reasons the Dow’s New Highs Are “Bull-o-ney” (and What to Do About It) « TheTradingReport

Five Reasons the Dow’s New Highs Are “Bull-o-ney” (and What to Do About It) « TheTradingReport | Gold and What Moves it. | Scoop.it

While many investors want to celebrate the Dow hitting seven straight new all-time highs, things are not exactly as they appear.

 

Today I want to talk about why the hoopla surrounding the Dow is misplaced and what that means for your money. Then, I want to offer a few thoughts on what’s next for the markets.

 

Let’s start with the problems behind the Dow’s numbers. There are a few things you should know: ...

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