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.
Curated by Hal
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Bankers Warn Fed of Farm, Student Loan Bubbles Echoing Subprime | Louis Scatigna, Author of The Financial Physician

Bankers Warn Fed of Farm, Student Loan Bubbles Echoing Subprime | Louis Scatigna, Author of The Financial Physician | Gold and What Moves it. | Scoop.it

A group of bankers that advises the Federal Reserve’s Board of Governors has warned that farmland prices are inflating “a bubble” and growth in student-loan debt has “parallels to the housing crisis.”

 

The concerns of the Federal Advisory Council, made up of 12 bankers who meet quarterly to advise the Fed, are outlined in meeting minutes obtained by Bloomberg through a Freedom of Information Act request.

 

Their alarm adds to a debate on the Federal Open Market Committee about whether the benefits from their monthly purchases of $85 billion in bonds outweigh the risk of financial instability. While Chairman Ben S. Bernanke has argued the program is worth pursuing, Fed Governor Jeremy Stein and Kansas City Fed President Esther George are among those who have voiced concerns that an extended period of low interest rates is heightening the risk of asset bubbles.

 

“Agricultural land prices are veering further from what makes sense,” according to minutes of the council’s Feb. 8 gathering. “Members believe the run-up in agriculture land prices is a bubble resulting from ...

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God Help Us All Because This Sure As Hell Will Not End Well

God Help Us All Because This Sure As Hell Will Not End Well | Gold and What Moves it. | Scoop.it

Today acclaimed commodity trader Dan Norcini sent King World News one of the most extraordinary and powerful pieces that we have ever shared with our global readers.  Norcini is warning KWN readers around the globe that “... some in the halls of economic power have looked over the cliff and seen the abyss below,” and their “only concern (at this point) is avoiding entering that chasm.”  Norcini also discussed gold, silver, stocks, shorts and central planners in this magnificent piece.


“With US equity markets surging into new record highs on a daily basis, one of the few sectors not participating are the gold and silver mining shares.  The divorce from the broader stock market is quite evident with the miners sinking lower as the rest of the market moves higher.  Clearly there is little if any speculative interest in owning shares in this beaten down sector outside of the value based buyers.


"As I have mentioned many times before, its takes the momentum based buying crowd to chase prices higher, and clearly they are not interested.  As far as the broader investment community is concerned, the central bank reflationary activities via bond buying programs, mortgage-backed securities, agency debt, along with the low interest rate environment, are having no impact whatsoever on inflation.  Thus, the West continues to cast off gold, jettisoning the metal in favor of equities, while the East accumulates as much physical gold as possible." ...

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CNBC FAST MONEY: Gold Demand at All-Time High: CEO Lear Capital

CNBC FAST MONEY: Gold Demand at All-Time High: CEO Lear Capital | Gold and What Moves it. | Scoop.it
Demand for physical gold has soared, Scott Carter says.

 

While the price of gold has declined in recent weeks, demand for the physical metal has soared, Lear Capital CEO Scott Carter said Tuesday.

 

"I think what you see is investors that thought they might have missed the price before saw the price drop in April, and this was a great opportunity for them to get into the market," he said. "So, we've actually seen on the physical side a big bump in investors wanting to add to their position or jump in for the first time."

 

Lear Capital is the largest seller of physical gold and silver in the United States.

 

On CNBC's "Fast Money, Carter also noted that the U.S. Mint had recently announced it was running out of its supply.

 

"So, demand at the mint level for coins, demand at the retail level in our business, is at an all-time high right now," he said.

(Read More: Gold at $4,000 an Ounce?)

 

Carter added that the disconnect between the commodity price of gold and the demand for the physical product could be a function of timing among investors.

 

"They're in and out of contracts and not taking physical possession," he said.

Hal's insight:

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Dear Gold Cartel – Market, Economic, Social, Political and Life Commentary by Peter Grandich

I’ve said  for years now that the very small minority of us gold bulls are locked in a war with the over-whelming number of professionals and the financial media who live off them, all of whomHATE GOLD!


It was foolish to think that after the gold “take down” a few weeks ago that they would simply go away (despite one of the four-star generals Goldman Sachs, ordering a retreat by covering shorts).

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Woman scams metal buyers out of thousands with fake silver bars

Woman scams metal buyers out of thousands with fake silver bars | Gold and What Moves it. | Scoop.it
UPDATED WITH VIDEO: Police are looking for a woman who they say sold several hundred fake silver bars to local metal buyers under the guise that it was real silver.
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Who’s smartest on gold – Chinese housewives or George Soros? Mineweb

Who’s smartest on gold – Chinese housewives or George Soros? Mineweb | Gold and What Moves it. | Scoop.it

Author: Lawrence Williams
Posted: Friday , 03 May 2013 

LONDON (MINEWEB) - 

 

On the face of things the answer to the question posed by the title should be obvious – but....  What prompted the question is a whole rash of Internet headlines regarding a mad rush to purchase gold by the Chinese over the May Day holiday.  By all accounts gold bullion and jewellery dealers were overwhelmed by the numbers of people flooding in to buy gold – particularly in Hong Kong where premiums were believed to be not as high as on the mainland.

 

Some of the headlines seen were as follows: China Gold Mania - Coins, Bars and Jewelry Sales Surge 108% on Goldseek; Chinese housewives buy 300 tons of gold on Marketwatch; HONG KONG gold retailers overwhelmed by mainland shoppers on China Daily; CHINA - Gold Helps China May Day Sales Rise 20% on Forbes; CHINA - Housewives' gold rush keeps price from fallingon People’s Daily online etc.  ...

Hal's insight:

Hat tip to http://www.caseyresearch.com/gsd

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What Is a Gold Standard?

Before 1974, U.S. dollars were backed by gold. This meant that the federal government could not print more money than it could redeem for gold. While this co...
Hal's insight:

Hat tip to www.zerohedge.com

 

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Own Gold LLC's curator insight, May 8, 2013 7:20 AM

Great intro video to understanding the benefit of gold and silver standards rather than FIAT currency.

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Ron Paul: "This Is A House Of Cards" | Zero Hedge

Authored by Ron Paul, via The Free Foundation,

Federal Reserve Blows More Bubbles

Last week at its regular policy-setting meeting, the Federal Reserve announced it would double down on the policies that have failed to produce anything but a stagnant economy. It was a disappointing, but not surprising, move.


The Fed affirmed that it is prepared to increase its monthly purchases of Treasuries and mortgage-backed securities if things don’t start looking up. But actually the Fed has already been buying more than the announced $85 billion per month. Between February and March, the Fed’s securities holdings increased $95 billion. From March to April, they increased $100 billion. In all, the Fed has pumped more than a half trillion dollars into the economy since announcing its latest round of “quantitative easing” (QE3) in September 2012.

 

Although many were up in arms when the Fed said it would buy $600 billion in government debt outright for the previous round, QE2, all seems quiet about the magnitude of QE3 because it doesn’t come with huge up-front total price tag. But by year’s end the Fed’s balance sheet could hit $4 trillion.

 

With no recovery in sight, where’s all this money going? It is creating bubbles. Bubbles in the housing sector, the stock market, and government debt. The national debt is fast approaching $17 trillion, with the Fed monetizing most of the newly issued debt. The stock market has been hitting record highs for the past two months as investors seek to capitalize on the Fed’s easy money. After all, as long as the Fed keeps the spigot open, nominal profits are there for the taking. But this is a house of cards. Eventually, just like in 2008-2009, the market will discipline the bad actions of the Fed and seek to find the real normal.


In the meantime, real families are suffering. While Wall Street and the government take advantage of access to the Fed’s new “free” money, the Fed claims there is no inflation. But who hasn’t paid higher prices at the grocery store, the gas pump, for tuition, for insurance? It’s bad enough that household incomes have stagnated, but real purchasing power has declined so much that one in seven Americans, 47.3 million people, are on food stamps. Five million are collecting unemployment insurance with 21.5 million afflicted by unemployment according to the government’s own figures. That’s 13.9 percent -- close to double the 7.5 percent unemployment number reported last week.


We are certainly not in a recovery. We don’t see the long unemployment and soup kitchen lines like in the Great Depression, but that’s just because the lines are electronic now.

 

It is not surprising the Fed has decided to hand the American people more of the same failed policies. But it is disappointing. We know what the real solution is: allow the marketplace to work. Allow entrepreneurs the chance to create instead of stifling innovation with arbitrary regulations. Allow interest rates to rise to equal the risks in the economy. Allow bad debts to be liquidated so we can build on a firm foundation. Stop printing money to benefit the government and big banks. Restore sound money to the economy and the American people. Sound money is the bedrock for prosperity and the best check on big government and crony capitalism.

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Embry - This Is How Close We Are To Total Collapse

Embry - This Is How Close We Are To Total Collapse | Gold and What Moves it. | Scoop.it

John Embry tells King World News in an interview:

 

“I was absolutely outraged to be quite honest with the jobs report on Friday in the United States.  If you applied logic and actually looked at where these jobs were created, I don’t think there is any possible chance that those numbers are correct...."

Hal's insight:

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The Golden Truth: The Government's Non-Farm Payroll Report Has Taken The Term "Farce" To A Whole New Level

The Golden Truth: The Government's Non-Farm Payroll Report Has Taken The Term "Farce" To A Whole New Level | Gold and What Moves it. | Scoop.it

I'm not even sure where to start to with today's April employment report.  It was so out of line with all the other economic indicators and with what we know about big banks, big retailers and big manufacturing companies and their numerous announcements of big job-count reductions this year.

Let me give just one example.  The Government and Wall Street has been telling us that there a big recovery going on the housing market.  And yet, if you go to Table B1 in this report from the BLS - LINK- you see that the construction sector was said to have lost 6,000 jobs in April.  That makes no sense.   The Birth/Death model (see below) shows construction adding 29,000 jobs.  This is completely inconsistent with the story line that housing is improving.  Bernanke said so himself on Wednesday.

And on the heels of this rather "robust" employment report, the Commerce Dept releases the factory orders report for March which shows a big decline of 4%, vs an expected decline of -2.8%.  Not only that, but prior report of +3% for February was revised to lower to +1.9%.  And then the ISM - Institute of Supply Management (formerly the Nat'l Assoc. of Purchasing Managers) releases its "services" report, which shows a decline from March to April and the index level was lower than expected.  Someone is lying.  I don't think the factories and private businesses reporting data that affects their bottom line are the ones.

I could go on all day boring you with the line by line analysis of today's jobs report.  But you can peruse through the report linked above if you like.  Trust me, there's better things to do with your time.  What I will mention, however, is that according the Government - from their nefarious "Birth/Death" model - new business formations by small businesses theoretically added 193,000 thousand jobs to the number that the Government then "seasonally adjusts."  I don't really know of anyone who believes that the Birth/Death model has an credibility whatsoever. ...

Hal's insight:

Click through for the rest and bookmark Dave's site.

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oftwominds-Charles Hugh Smith: Bernanke's Neofeudal Rentier Economy

oftwominds-Charles Hugh Smith: Bernanke's Neofeudal Rentier Economy | Gold and What Moves it. | Scoop.it

The Fed has directly created a neofeudal rentier economy and society.


Federal Reserve Chairman Bernanke is a Reverse Robin Hood, robbing from the lower 95% and giving to the financier class. The Real Reverse Robin Hood: Ben Bernanke and his Merry Band of Thieves (August 31, 2012). It's worth understanding the mechanisms of this wealth transfer: in essence, the Fed extends low-cost credit (i.e. "free money") to the financier class which then uses this free money to buy rentier assets, that is, assets that generate economic rents for the owners, who add no value and create no wealth. This is of course the neofeudal model: the financial aristocracy in the manor house own the rentier assets and the debt-serfs toil away to pay the rents and taxes. The financier class (i.e. those that benefit from the financialization of the economy) are as unproductive as feudal lords; they skim the profits generated by ...
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Trader Dan's Market Views: Fed Induced Stock Market Mania

Trader Dan's Market Views: Fed Induced Stock Market Mania | Gold and What Moves it. | Scoop.it

... the entire stock market rally is nothing but a Federal Reserve induced bubble brought about by artificially low interest rates starving investors for yield elsewhere. The Fed, along with the Bank of Japan and the ECB I might add, are determined to corral investors and herd them, unthinking like cattle, into equities; the goal being to create an atmosphere of general euphoria towards the economy boosting consumer confidence in the hopes of inducing them to take on more debt and spend.

This is akin to building a towering skyscraper on a foundation of PLAY-DO. It may look wonderful and draw gasps of admiration but it has no stability and will not be able to withstand any external shocks.

I know what the perennial perma bulls are saying - stocks are cheap and corporate profits are good so the path of least resistance is higher. They have been right so far judging by the tape. However, to point to a jobs number that is less than 200K per month, now some FIVE YEARS after the onset of a horrible recession as if it is evidence of a recovery strikes me more as ROSE-COLORED GLASSES analysis rather than solid reasoning. ...

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Chinese Gold investors suffer on lack of options

Chinese Gold investors suffer on lack of options | Gold and What Moves it. | Scoop.it
Many people said they were denied opportunity to invest in gold products and can only afford to buy gold accessories and gold bars.

 

LONDON(BullionStreet): China's lack of investment options came under the spotlight during the recent gold price plunge, analysts said.

 

During the recent plunge, Chinese buyers have swarmed into retail stores in the mainland and Hong Kong, snapping up 300 tons of gold.

 

Analysts however said spot gold transactions, though resurgent after gold took a dip, can have little impact on gold price.

 

Many people said they were denied opportunity to invest in gold products and can only afford to buy gold accessories and gold bars. ...

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Iran wins Gold exploration bid in Sudan

Iran wins Gold exploration bid in Sudan | Gold and What Moves it. | Scoop.it
According to reports, Sudan has granted an Iranian firm called "Mine an Metals" a license to explore for gold in River Nile state north of Khartoum, where much of Sudan's gold comes from,.

 

KHARTOUM(BullionStreet): Three months after the visit of Iran's president Mahmoud Ahmedinejad to Khartoum, Sudan finally granted permission for an Iranian firm to explore for gold in the country.

 

According to reports, Sudan has granted an Iranian firm called "Mine an Metals" a license to explore for gold in River Nile state north of Khartoum, where much of Sudan's gold comes from,.

 

The move is likely to attract US led sanctions against the African country, which has been trying to attract more investment to explore for gold as it become the country's main source for dollars needed to fund imports after the loss of most oil production with South Sudan's secession. ...

Hal's insight:

Fascinating news to me. Iran may have a bigger hunger for gold than we know. Now that they have been selling oil for gold, maybe they are catching the fever ;-)

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China Gold imports to hit record levels in 2013

China Gold imports to hit record levels in 2013 | Gold and What Moves it. | Scoop.it
China consumed a total of 320.54 tons of gold in the first quarter, surging 25.6 percent year-on-year.

 

BEIJING(BullionStreet): A day after China Gold Association announced sharp increase in gold consumption, the trade body sees record imports of the yellow metal this year.

 

A top official of the CGA said country's gold imports are likely to swell further after more than doubling to an all time high in March as retail consumers pounced when prices plunged to a two-year low last month.

 

Zhang Bingnan, secretary-general of the China Gold Association said physical demand picked up significantly over the last couple of weeks. Consumers and industrial users tend to see price drops as buying opportunities.

 

"Investment demand should continue to stay strong through the rest of the year because of limited investment alternatives," said Zhang, adding that gold sales and processing volumes both spiked in April. ...

Hal's insight:

Who says that the run is dead?

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Gold production at US mines down 6 pct in Feb.

Gold production at US mines down 6 pct in Feb. | Gold and What Moves it. | Scoop.it
Average price of gold in February was $1,631.93, down from $114.78 a year ago.
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Chinese gold imports jump 130%

Chinese gold imports jump 130% | Gold and What Moves it. | Scoop.it
Last week's widely circulated story of Chinese housewives buying 300 tonnes in two weeks, don't sound so crazy anymore.

 

A widely circulated story in official Chinese news outlets about the country's housewives propping up the gold market was met with a fair bit of skepticism.

 

People's Daily Online quoted the "Voice of China" radio program which said "one of this year's most popular phrases may be 'Chinese housewives' – as a major force which reportedly spent 100 billion yuan (US$16 billion) over the past two weeks purchasing 300 tons of gold and thus helping to sustain gold prices."

 

New data provided by Bloomberg suggests these figures may be not completely out of the ballpark.

 

In March mainland buyers splashed out more than $10 billion on 223,519 kilograms (223.52 tonnes) of gold compared with 97,106 kilograms in February, a 130% jump. According to data from the Hong Kong government, net imports by mainland China investors also more than doubled to over 130 tonnes. ...

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Supply and demand means squat in a managed market - Ed Steer's Gold & Silver Daily

Supply and demand means squat in a managed market - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it

Ed Steer writes:


Nothing has changed in the precious metals market since the big sell-off of three weeks ago.  The Commitment of Traders Report is still sitting in a wildly bullish configuration...and all that awaits is a trigger of some sort.  That, coupled with the reaction of JPMorgan et al when the rallies begin, will determine how high the rally goes...and how fast we get there.  Supply and demand means squat in a managed market.  So we wait. ...

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Fake U.S Silver Eagle coins soaring through Hamilton, police say - Hamilton

Fake U.S Silver Eagle coins soaring through Hamilton, police say - Hamilton | Gold and What Moves it. | Scoop.it
Hamilton Police say they've gathered over 500 fake U.S Silver Eagle coins sold across the city over the past few months.
Hal's insight:

Click through for the video. Hat tip to http://www.caseyresearch.com/gsd

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World Bank Whistle-blower: "Precious Metals To Serve As An Underpinning For Paper Currencies" | Bull Market Thinking

World Bank Whistle-blower: "Precious Metals To Serve As An Underpinning For Paper Currencies" | Bull Market Thinking | Gold and What Moves it. | Scoop.it

Tekoa Da Silva writes:

 

I had the opportunity yesterday to speak with one of the western world’s most courageous and astute women, Karen Hudes, Former Senior Counsel to the World Bank—now turned whistle-blower.

 

It was a powerful conversation, as Karen spent 20 years with the World Bank as an attorney and economist, before being “let-go” after reporting internal fraud and corruption.

 

During the interview Karen indicated that the world is rapidly changing, with western power structures breaking down, economic & political influence gravitating to BRICs nations, all amid a pending currency transition which will highly favor precious metals.

 

Starting out by discussing the shocking centralized power she witnessed while working at the World Bank, Karen explained that, “A study done by three [Swiss] systems analysts who used mathematical modeling [shows] how the [world's] 43,000 transnational corporations were being controlled through interlocking corporate directorates. There’s a group of 147 companies, most of them are financial institutions, and what they’ve done, is through the interlocking directorates, they control 40% of the net worth of these [43k] companies, and 60% of their earnings…so that group has been using the presidency of the World Bank as kind of a puppet to dominate the world—that’s [now] finished.”


A major shock to that centralized power base, according to Karen, was the recent move by BRICs nations leaders to bypass the World Bank for their financing needs, by establishing their own development bank. ...

Hal's insight:

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The Global Run On Silver & What It Means Going Forward

The Global Run On Silver & What It Means Going Forward | Gold and What Moves it. | Scoop.it

Robert Fitzwilson tells King World News:


... The silver coin in most of human history has allowed the owner to purchase goods and services.  It has also been one of the primary mechanisms for the storage of wealth.  The amazing thing about the coin is that it also has tremendous utility.  Silver is the best conductor of electricity, so it is essential to our technology driven world.  Computers and solar panels all rely on the electrical properties of silver.  Silver also is one of the best natural anti-microbial elements in Nature.


There is an ever expanding list of potential uses for the metal.  At the same time, the surplus of silver that we had not too long ago has been consumed.  The ore grades that we are mining continue to decline.  At a time when supplies are tight and getting tighter, the demand for industrial, jewelry and monetary uses continues to grow. ...

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oftwominds-Charles Hugh Smith: What Is Obvious About This Market?

oftwominds-Charles Hugh Smith: What Is Obvious About This Market? | Gold and What Moves it. | Scoop.it

... what is "obvious" to those inside a system and what is "obvious" to those outside the system? Our experience of what is "obvious" says a lot about our cultural context and assumptions: the manufacture of our "news" and consensus, the mystification of our experience via propaganda and simulacra, what we perceive as "normal" relationships, work, goals, etc.

 What is "obvious" to most participants is that the stock rally is fueled by central bank liquidity and quantitative easing, and since there is no limit in sight to these policies, there is also no limit to the stock market running higher. It is also "obvious" that betting against this trend is an excellent way to lose money, so the number of people shorting the market dwindles with each push higher. Equally "obvious" is the incentive to borrow money via margin to ...
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Where Is The Recovery? A Higher Percentage Of Americans Had Jobs Three Years Ago

Where Is The Recovery? A Higher Percentage Of Americans Had Jobs Three Years Ago | Gold and What Moves it. | Scoop.it

If you think that the latest employment numbers are good news, you might want to look again.  In April 2013,58.6 percent of all working age Americans had a job.  But three years ago, in April 2010,58.7 percent of all working age Americans had a job.  Well, you may argue, that is not much of a difference.  And that is precisely my point.  The percentage of Americans that have a job fell like a rock during the last recession.  It dropped from about 63 percent all the way down to below 59 percent, and it has stayed below 59 percent for 44 months in a row. ....

Hal's insight:

Click over for the the nice list of year on year the chart. It's one of the reasons I think we are just being conditioned by the gov and media to blieve things are improving.

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Richard Russell - Big Money, Fed, Gold, God & General Patton

Richard Russell - Big Money, Fed, Gold, God & General Patton | Gold and What Moves it. | Scoop.it

Richard Russell tells King World News:


"I believe gold is in the process of building a base.  Gold has been up 9 out of the last 13 days, and it may be ready to decline a bit in order to build a more powerful base.”

Hal's insight:

Click through for the full piece and charts. He has some interesting thoughts from a long life.

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Former US Treasury Official - Gold, The Police State & More War

Former US Treasury Official - Gold, The Police State & More War | Gold and What Moves it. | Scoop.it

Today a former US Treasury Official told King World News that central planners are driving the financial system into collapse as an excuse to increase the police state and create more wars.  Dr. Paul Craig Roberts also spoke about gold and the ongoing currency wars.  Below is what Dr. Roberts had to say in part III of his extraordinary series of written interviews which have now been released.


Eric King:  “Dr. Roberts, when you look at the phony reports coming out and you see this artificial suppression of gold and silver, this desperation as you call it, where does that have us headed going forward?  What do you see happening in the future?”

 

Dr. Roberts:  “Well, there is obviously going to be a big blow up.  We have the three biggest bubbles in human history:  The stock market bubble, the bond market bubble, and the dollar bubble.

 

If the dollar were to drop sharply in its exchange value, the prices of imports would rise.  But the incomes of the people are not rising.  The[y] won’t be able to keep up with the price rises, and you’ve already got a large percentage of the population now (one in six) on food stamps....


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