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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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On the Death of Certain Dreams

On the Death of Certain Dreams | Gold and What Moves it. | Scoop.it
Author of THE DEBT GENERATION

"All nations, all peoples, I think, have dreams of themselves, of their better selves, of the people they imagine they could be. They are not rational and are often not even true. But then again dreams do not have to be true. We just have them. Or perhaps they have us. But those dreams have been dying recently. The dreams of whole nations have been withering and dying. As if some disease of our imagination’s immune system were turning hope against us. And we find ourselves collectively adrift, mourning for the people we thought we could be. ..."
Hal's insight:

This piece resonated with me. I sen the death of dreams around me quite a bit of late. And working with a number of business owners as I am privileged to do, I also see the birth of some dreams during these difficult times. One of the things that I am reminded about is that not all those dreams will make it. But some will. And these people are not the type to stop dreaming when difficulty arises.

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The Essential Newbie Guide for Buying Gold & Silver

The Essential Newbie Guide for Buying Gold & Silver | Gold and What Moves it. | Scoop.it
Hal's insight:

JS Kim writes:

 

(4) Gold and Silver Prices ARE actively suppressed by bankers

 

No, this is not a conspiracy but simply fact. Don’t let the analysts out there that say such claims are conspiracy and false convince you of their misinformation campaign. The circumstantial evidence of Central Bank and bullion bank gold and silver price suppression schemes is as overwhelming as the circumstantial murder evidence that existed against OJ Simpson. I’ve outlined some of this evidence in the video below for your review. As well, visit www.gata.org for a mountain of evidence. Thus, since all banking forces conspire to keep gold and silver prices low and not to drive the price higher, this supports my thesis that gold and silver prices are still cheap today. Remember, I was making these claims more than six years ago and ridiculed for my claims back then though the claims of gold and silver price suppression are much more accepted as fact today. Remember, the philosopher Arthur Schopenhauer said this about truth:“All truth passes through three stages: First, it is ridiculed; Second, it is violently opposed; Third, it is accepted as self-evident.” In 2006, many in the commercial investment industry ridiculed for my firm stance that gold and silver prices were being manipulated downward by bankers. I believe that now we are still in the stage when the truth about gold and silver price manipulation schemes are still being violently opposed but that we will soon be moving into the stage when this truth becomes self-evident.

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US Mint Gold coin sales jump 132% in November

US Mint also reported sales of 3,159,500 ounces in American Eagle Silver Bullion coins for November 2012, more than double the sales of 1,384,000 ounces in American Eagle Silver Bullion coins reported during November 2011.
Hal's insight:

WASHINGTON(BullionStreet): US investors are flocking to gold, especially in coin form as uncertainties over fiscal cliff strengthened post presidential elections.

US Mint said sales of American Eagle gold bullion coins more than tripled in November of this year from 41,000 ounces sold in November 2011 to 131,000 ounces.

The U.S. Mint also reported that gold sales increased 132% from 59,000 ounces in October 2012 to 136,500 gold ounces in November 2012.

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Secret IMF report: Hide gold loans and swaps for market manipulation | Gold Anti-Trust Action Committee

Secret IMF report: Hide gold loans and swaps for market manipulation | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it
Hal's insight:

Dear Friend of GATA and Gold:

 

"Western central banks conceal their gold loans and swaps because information about them is "highly market-sensitive" and accountability about them would hinder secret currency market interventions by central banks, according to a confidential report by the International Monetary Fund obtained this week by GATA.

 

"The report, provided to GATA by its researcher R.M., was written in March 1999 as the IMF staff proposed to strengthen financial reporting standards for central banks. The report shows that the objections by gold-lending central banks were decisive in weakening the standards. While the first draft of the new reporting rules would have required disclosing central bank gold loans and swaps, the revised rules, later adopted, allowed central banks to hide their gold loans and swaps within their gold reserves and even not to disclose the amount of their monetary gold at all, just the value assigned to it. ..."

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The Golden Truth: More On Real Unemployment

The Golden Truth: More On Real Unemployment | Gold and What Moves it. | Scoop.it
Hal's insight:

Dave in Denver writes:

 

Just walk into any Starbucks in any urban area after 11 a.m. and see who's using the free wifi -  a thoughtful, long-time friend of mine on the credibility of the Government's employment report


Although it gets mentioned in non-mainstream media sources of analysis, the ever-shrinking size of the U.S. labor force has become serial in nature, to the point at which this economic defect has become endemic to our system.  Huh?

Every month embedded in the Government employment report is a statistic called "civilian labor force participation rate."  This number is basically the number of people who are employed PLUS the number of people looking for a job divided by the population.  The result is the "labor force."  So the headline unemployment rate would be the number of people looking for a job divided by the size of the labor force. This number was reported to be 63.6% last Friday.  This is lowest it's been since 1981.

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Give us your gold wedding bands for these patriotic steel rings | MINING.com

Give us your gold wedding bands for these patriotic steel rings | MINING.com | Gold and What Moves it. | Scoop.it
Gold confiscation is more widespread than remembered
Hal's insight:

Adrian Ash at BullionVault traces the history of gold confiscation by Western government's through the past century, a practice more widespread than remembered.

Of course there is a confiscation by the US government in 1933, but over 30 years later a desparate Labour government in Britain clamped down on gold coin collectors since the government believed gold purchases were damaging the country's balance of trade. Ash says over 4,000 people were caught up in the Bank of England's scrutiny and prosecutions.

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Indian rupee demand boosts Nepal Gold smuggling

Analysts said as the amount is half the domestic demand, local traders are illegally importing gold from Indian and Chinese markets to fulfill the domestic demands.
Hal's insight:

KATHMANDU(BullionStreet): Nepal Gold and Silver Traders Association(Negosida) said high demand for Indian rupee remained the major reason behind the high increase in gold smuggling to India.

The Association said Nepalese importers have been using gold to make payments for goods being imported from India for the last three months, leading to shortage of the yellow metal despite recent hike in gold prices continued to hit gold markets in the country.

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Major banks eager to join Gold trade in Vietnam

Banks would be able to trade bar gold like gold enterprises, they would have to follow the regulations on the gold position like the ones currently applied to foreign currency trade.
Hal's insight:

HANOI(BullionStreet): Only a handful out of the more than 12,000 gold shops in Vietnam will exist after January 30 next year as any companies not licensed by the country's central bank must get out of the gold bar business there after.

Vietnamese authorities are considering applications from 21 enterprises seeking permission to continue trading in gold bars by passing tightened regulations.

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Platinum: Fear vs. Fundamentals - Casey Research

Is it time to buy platinum?
Hal's insight:

By Andrey Dashkov, Research Analyst

In October of last year, we published a platinum-market overview in the Casey International Speculator and concluded by saying: "We recommend avoiding South Africa, and in this context it means staying away from platinum producers located there. If the energy situation spins out of control, miners' strikes continue, and the local trouble puts an indefinite halt to a significant portion of platinum production, some speculative opportunities may appear in the physical-metal market or platinum-backed investment tools. If we see signs of that happening, we may speculate on the results."

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73% of New Jobs Created in Last 5 Months Are in Government | CNS News

73% of New Jobs Created in Last 5 Months Are in Government | CNS News | Gold and What Moves it. | Scoop.it
CNSNews.com was launched on June 16, 1998 as a news source for individuals, news organizations and broadcasters who put a higher premium on balance than spin and seek news that’s ignored or under-reported as a result of media bias by omission.
Hal's insight:
By Terence P. Jeffrey 

(CNSNews.com) - Seventy-three percent of the new civilian jobs created in the United States over the last five months are in government, according to official data published by the Bureau of Labor Statistics.

In June, a total of 142,415,000 people were employed in the U.S, according to the BLS, including 19,938,000 who were employed by federal, state and local governments.

 

 

 

 

 

hat tip to @EdSteersGSD

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Ed Steer discovers non-US Banks just as difficult to talk with: Gold & Silver Daily

Ed Steer discovers non-US Banks just as difficult to talk with: Gold & Silver Daily | Gold and What Moves it. | Scoop.it
Today is the 1-day FOMC meeting...and I have no idea what that portends for the precious metals...if anything.
Hal's insight:

I had to smile at this from Ed Steer in his daily dispatch. He had written to the Bank of Nova Scotia and he describes their reply this way:

 

"... Well, I received a reply from the ombudsman at the Bank of Nova Scotia yesterday...and I must admit that I was somewhat taken aback by his answer.  Not only did he answer a question I didn't ask...he didn't answer the question I did ask...and I also got blown off as well...along with the comment that I shouldn't share the contents of this e-mail with anyone other than "a professional advisor (such as your lawyer or accountant) or the Ombudsman for Banking Services and Investments"...because their reply to me was "confidential".

 

"I must admit that I expected to be treated better than this.  I guess my illusion that Canadian banks would be nicer than their American counterparts just got shredded. ..."

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Richard Russell: Stage Now Set For Public To Enter Gold Market

Richard Russell: Stage Now Set For Public To Enter Gold Market | Gold and What Moves it. | Scoop.it
Richard Russell
Hal's insight:

Richard Russell tells King World News:

 

 

"One caveat -- After rising for 12 years in a row, I expect the bull market in gold to produce a final upside blow-off.  Bull markets don't usually die with a whisper and a snore.  Often prior to a final upward explosion, we will see a sharp correction, and I have expected something like that for gold.  The final correction serves to clear the air and readies the market for a climactic rise. 

 

 

"One reason why we may not see the usual correction in gold is that most of the world's central banks are now accumulaters of gold on any weakness.  Both China and Russia are now eager buyers of gold -- both have a small percentage of gold in their reserves. 

 

 

"It's also significant that most Americans are afraid of gold, even though it has risen year after year for twelve years.  Imagine the following a stock would enjoy if a given stock had risen twelve years in a row. ..."

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Chart Of The Day: Jobs "Additions" By Age Group Reveals The Scariest Picture | ZeroHedge

Chart Of The Day: Jobs "Additions" By Age Group Reveals The Scariest Picture | ZeroHedge | Gold and What Moves it. | Scoop.it
While the GETCO algos care only about one thing: the headline NFP number derived by the establishment survey, the reality is that in November this number was strictly a divination of seasonal adjustments (which resulted in the typical for November...
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This Is What Is Going On Behind The Scenes In The Gold War

This Is What Is Going On Behind The Scenes In The Gold War | Gold and What Moves it. | Scoop.it
"Eric King: “John you had mentioned to me before we went on the air that one of the reasons Goldman (Sachs) may have made that call (for the end of the gold bull market) is because they are trying to buy gold for China on the cheap. I know you’ve seen the chart from Egon von Greyerz that shows Chinese gold production, plus net imports. It’s a shocking chart when you really look at the growth there.”

"Hathaway: “Absolutely. Look, it’s not just China. Central bank buying, I’ve seen it in a couple of places and we track it, has really picked up. So what does that tell you? It tells you that people who are long our paper, they are starting to get it. ..."
Hal's insight:

If you missed this piece by King World News from a couple of days ago it's worth a second look. Whenever there's weakness some of the globes biggest central banks are buying.

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oftwominds-Charles Hugh Smith: Essays in Fragility: Our One-Off Economy

oftwominds-Charles Hugh Smith: Essays in Fragility: Our One-Off Economy | Gold and What Moves it. | Scoop.it
Hal's insight:

Charles Hugh Smith writes:

 

"If you set out to create an increasingly fragile economy, you'd do precisely what the Federal Reserve and our political "leaders" have done.


"All the extraordinary measures deployed since 2008 to jumpstart the U.S. economy are one-offs: either they cannot be repeated or they have lost their effectiveness.
"As a result, we now have an extraordinarily fragile one-off economy that is dependent on "emergency" measures that cannot be withdrawn even as their utility in the real economy dwindles by the day. ..."
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Iran buys $7 billion Gold from Turkey till Nov-2012

Turkey has been importing Iranian oil and gas, and has been compensating the Islamic Republic in gold, beginning in February.
Hal's insight:

ANKARA(BullionStreet): Gold remained the back bone of Turkey's trade with Iran this year as the yellow metal accounted for 40% of total turnover till November this year.

According to Iranian news agency IRNA, total trade between Iran and Turkey have risen nearly 50 percent this year to $20 billion in a 10-month period ending in November.

The Of the $20 billion in trade, $7 billion resulted from Turkish exports of gold to Iran.. Turkey has been importing Iranian oil and gas, and has been compensating the Islamic Republic in gold, beginning in February.

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VIDEO: Seeing $315 billion worth of gold is 'quite disappointing' | MINING.com

VIDEO: Seeing $315 billion worth of gold is 'quite disappointing' | MINING.com | Gold and What Moves it. | Scoop.it
Like a mausoleum
Hal's insight:

by Michael Allan McCrae:

 

Professor Martyn Poliakoff toured the Bank of England's gold vaults, which contains $315 billion worth of bullion, and felt a little sad.

"In some ways, seeing these bars is quite disappointing because gold is an exciting element. It has interesting chemistry, and it's just sitting here doing nothing," said Poliakoff, who hosted a gold episode of The Periodic Table of Videos.

"It's enormously impressive. It's a bit sad, like a mausoleum where the dead gold is sitting, waiting for people to remember it when it could be doing exciting reactions."

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Next stage QE will be further boost for gold and silver

Next stage QE will be further boost for gold and silver | Gold and What Moves it. | Scoop.it
Tomorrow we expect to hear news of more Treasury buying by the Fed which it will do by raising the amount of Mortgage bonds it buys from $40 billion a month to $45 billion a month
Hal's insight:

by Julian Phillips: 

BENONI - 

Tomorrow we expect to hear news of more Treasury buying by the Fed which it will do by raising the amount of Mortgage bonds it buys from $40 billion a month to $45 billion a month. They view this stimulus as what’s needed to sustain the economy and reinforce improvements in industries such as autos and housing, which appear to have picked up.

The Fed’s latest round of quantitative easing will total $1.1 trillion, with about $620 billion in mortgage-backed securities and $500 billion in Treasuries. They have to get the economy up to a speed where the momentum will carry it forward without this support. If they fail and momentum slows then the whole QE program will turn toxic and create accelerating monetary inflation. That’s why so many worry about quantitative easing so much.

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INFOGRAPHIC: Why asteroid mining is necessary | MINING.com

INFOGRAPHIC: Why asteroid mining is necessary | MINING.com | Gold and What Moves it. | Scoop.it
Platinum will be depleted in 20 to 30 years.
Hal's insight:

911 Metallurgist explains why asteroid mining is needed: many metals that underpin our modern economy are quickly being depleted.

Without any new technological advances, metals like zinc and gold are expected to run out in 100 years.

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Turk - The Key Chart Every Silver Investor Needs To Watch

Turk - The Key Chart Every Silver Investor Needs To Watch | Gold and What Moves it. | Scoop.it
Hal's insight:

Today James Turk sent King World News a crucial chart which will determine the fate of silver going forward.  Consequently, this will impact the gold market as well.  Here is what Turk had to say, along with this very important chart:  “The weekly silver chart is giving us an important message, Eric.  I have been watching this chart carefully for a long time, and waiting for the breakout from the flag pattern on the chart.  Flag patterns are very bullish formations, and normally occur in bull markets.”

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PHOTOS: Black market gold | MINING.com

PHOTOS: Black market gold | MINING.com | Gold and What Moves it. | Scoop.it
All that glisters?
Hal's insight:

This is fascinating:

 

MINING.com receives numerous emails every week from around the world offering us good deals on anything from europium oxide to cold rolled steel, not to mention second-hand excavators or a discount on an Ulan Bator apartment for rent.

 

But this particular message sent from a nondescript gmail account and the accompanying photos caught our eye.

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Rickards: Fed Is Trying to Import Inflation: Video

Rickards: Fed Is Trying to Import Inflation: Video | Gold and What Moves it. | Scoop.it
Tangent Capital Partners Senior Managing Director James Rickards talks about the global currency war. He speaks on Bloomberg Television's "Lunch Money." (Source: Bloomberg)
Hal's insight:

Video. Currency Wars. Worth watching. Hat tip to @EdSteersGSD

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John Embry - This Is Why Silver Will Smash Through $100

John Embry - This Is Why Silver Will Smash Through $100 | Gold and What Moves it. | Scoop.it
Hal's insight:

Today John Embry spoke with King World News about why the price of silver is going to smash through $100 and what the Chinese are up to in critical markets.  Here is what Embry, who is chief investment strategist at Sprott Asset Management, had to say:  “The central planners recognize that the whole system is based upon keeping the collateral that’s supporting all of this debt elevated.  Consequently, if gold and silver were to suddenly start to rocket up in price and truly reflect what’s going on, interest rates would follow briskly behind them and the whole bond market would literally collapse.”

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The global debt clock

The global debt clock | Gold and What Moves it. | Scoop.it
Authoritative weekly newspaper focusing on international politics and business news and opinion.
Hal's insight:

Kind of scary? To say the least. hat tip to www.jsmineset.com

 

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Govt. borrows 46 cents of every dollar it spends

Govt. borrows 46 cents of every dollar it spends | Gold and What Moves it. | Scoop.it

by Stephen Dinan:

 

"The federal government borrowed 46 cents of every dollar it has spent so far in fiscal year 2013, which began Oct. 1, according to the latest data the Congressional Budget Office released Friday.

 

"The government notched a $172 billion deficit in November, and is already nearly $300 billion in the hole through the first two months of fiscal year 2013, underscoring just how deep the government’s budget problems are as lawmakers try to negotiate a year-end deal to avoid a budgetary “fiscal cliff.”


"Higher spending on mandatory items such as Social Security, Medicare and interest on the debt led the way in boosting spending compared with the previous year, which also highlights the trouble spots Congress and President Obama are struggling to grapple with.


"All sides agreed to discretionary spending cuts and automatic spending cuts last year, but have been unable to agree on ways to control entitlement costs, which are the long-term drivers of deficits and debt. ..."

 

hat tip to www.drudgereport.com 

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