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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Eric De Groot: Homeowners Using Their Homes Like ATMs Again?

Eric De Groot: Homeowners Using Their Homes Like ATMs Again? | Gold and What Moves it. | Scoop.it

The securitization of mortgages was viewed by many, including the Fed, as way to spreading risk, increasing loan demand and profits, and supporting underlying asset prices. Real estate loan demand and home prices soared when securitization offered credit to the millions once considered too risky.  It didn't take long for homeowners to realize they could covert the unexpected bounty of rising equity into cash.  This CDO-driven virtuous cycle was viewed by many as the long sought perpetual motion machine of modern finance.

A smart few, however, realized that while this machine spread risk, it's massive profit potential, driven by greed, would also discarding the principles of sound finance. As the CDO pile grew, the quality of loans written declined dramatically.  The ...

Hal's insight:

That can't be a bad thing, riiiight?! Eventually, I'll knock myself out by hitting my head against the wall.

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SURPLUS MY FAT ASS « The Burning Platform

The crap reported by the government and MSM is mind boggling to behold. The sheep will just take this headline in as the truth. It’s nothing but lies, misinformation and bullshit government accounting. Please proceed to this link:


http://www.treasurydirect.gov/NP/BPDLogin?application=np


Enter December 31, 2012 and January 31, 2013 into the form and you get these results:


National Debt on 12/31/12 – $16,432,730,050,569.12


National Debt on 1/31/13 – 16,433,791,850,294.04


The government reports a $3 billion surplus, but the National Debt goes up by $1.06 billion. Close enough for government work. Interest does not get paid on the reported deficits. It gets paid on the actual debt.


Trust no one. Especially your government.

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Currency Wars Are Evil | Axel Merk | Safehaven.com

Currency Wars Are Evil | Axel Merk | Safehaven.com | Gold and What Moves it. | Scoop.it
Real people may die when countries engage in "currency wars." Countries debasing their currencies risk, amongst others: Loss of competitiveness, Social unrest and War. We discuss not only why we believe currency wars are evil, but also ...
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Reasons Not To Buy Gold?

Reasons Not To Buy Gold? | Gold and What Moves it. | Scoop.it
Mark Hulbert wrote a shockingly inept article for Barron's online which expressed reasons not to own gold: 5 Reasons Not To Buy Gold.

 

... Now, onto the primary reason to buy gold: it's a time-tested hedge against rampant Government-motivated fiat currency devaluation. Let's use the U.S. dollar since we live in this country and buy goods denominated in dollars. The U.S. dollar index hit 121 in mid-2001.Currently, it's hovering around the 80 level. That's a 33.8% decline in the value of the U.S. dollar relative to currencies that make up the index. At the same time, the price of gold in mid-2001 was $270 per ounce. It's currently $1650 per ounce. That's a 611% appreciation in price vs. the U.S. dollar. In other words, the U.S. dollar has lost 83% of its purchasing power relative to gold. That's a remarkable fact and one that gets no mention anywhere in the mainstream media. ...

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Who Will Win The Currency Wars? | Zero Hedge

Who Will Win The Currency Wars? | Zero Hedge | Gold and What Moves it. | Scoop.it

As debate about potential currency wars heats up, commentators including myself have called out the likely losers, the Japanese yen and South Korean won being high on most lists. Much less discussed has been which countries will win from the currency wars. After all, the currency market is a zero-sum game - as one currency declines, another must go up. In this issue, I'm going to suggest that Singapore and to a lesser extent, Thailand and Malaysia, will be relative winners. And I'm also going to explain why some supposed currency safe havens - including Australia, China, Canada, Switzerland and Norway - are unlikely to perform as well.

Now I know that some will point to gold being money and the ultimate winner of the race to the currency bottom. I too am a gold bull and suggest the metal should be a core component of any investment portfolio. Having written about gold on previous occasions though, today the focus will be on currencies. ...

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Middle East nations urged to increase Gold holdings

Middle East nations urged to increase Gold holdings | Gold and What Moves it. | Scoop.it
Despite the fact that most Middle Eastern nations pegged their currencies to the dollar, they should expand their gold reserves holdings,

 

DUBAI(BullionStreet): Despite the fact that most Middle Eastern nations pegged their currencies to the dollar, they should expand their gold reserves holdings, according to Dubai International Financial Centre Authority.

 

This will help shield their assets in dollars from volatilities in global currency markets, it said.

 

Here is a list of the Middle Eastern countries in respect of their gold holdings. ...

Hal's insight:

Click through for the list.

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Jake Red Dorman's curator insight, November 13, 2014 3:24 PM

 Little did I realize that not only was the middle east rich off of oil, but they have large amounts of gold as well. Saudi Arabia is the, "14th of the top twenty holders of gold worldwide. It holds gold reserves of approximately 339.6 tons. Saudi Arabia is the top gold holder in the Gulf region." Lebanon is 18th among the 100 countries worldwide in terms of gold reserves. Their plan to expand their gold reserve holdings to shield their assets in dollars in the global currency markets which is genius in my opinion. 

 

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US private gold exports rise in December

U.S. gold exports to Hong Kong has been steadily increasing in the past several years as wealthy Asian individuals looked to diversify their portfolios into gold.

 

WASHINGTON(BullionStreet): Asia accounted for a major part of the 20 tons gold exported from the US, highest total and the biggest month-on-month jump in U.S. private gold exports since September 2011.

 

According to US Commerce Department gold exports played an important role in narrowing the shrinking trade deficit during the month of December.

 

Country's exports of non monetary gold, which excludes central bank transactions, soared by 43 percent to $4 billion in December from the previous month. ...

Hal's insight:

Put that in your pipe and smoke it. Oh weight. You mignt have a problem find some shortly.

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Art Cashin - Key Indicator That Just Spiked Is Huge Warning

Art Cashin - Key Indicator That Just Spiked Is Huge Warning | Gold and What Moves it. | Scoop.it

50-year veteran Art Cashin alerted King World News that a key indicator has just spiked and it is a huge warning.  Cashin, who is Director of Floor Operations for UBS ($612 billion under management), also warned “If money begins to change hands rapidly, the risk of inflation rises dramatically.”


Eric King:  “There was this call (last week) to print $30 trillion, and at the start of 2011 there was a great deal of coverage surrounding the calls for $100 trillion to be printed.  You’ve been around this business for so long, what are your thoughts when you hear those kind of numbers just tossed around?”

 

Cashin: “They’re stunning.  In days past you would never hear numbers like that bandied about.  It took us 200 years to get to a certain level in our national debt.  It took us something like 20 years to then double that.  Then, in a matter of 3 years we’ve quintupled it. ...


Hal's insight:

Click through for the rest of the interview.

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There Is No Way… « Jim Sinclair's Mineset

My Dear Friends,


There is no way that any entity, be it private, public or both, is going to manipulate away the debt situation faced today. 

 

There is no way that the US is going to become a net exporter of energy in amounts that could even slow down this rate of growth in the debt. 

 

There is no way this flat line recovery is going to turn into a boom in business. 

 

There is no way that the unemployment figures are going to have a sustained improvement short of all the unemployed giving up hope and shifting to the underemployed list. 

 

There is no way that you can set such records in increased liquidity and not have explosion inflation regardless of business activity. 

 

There is no way that the Fed can liquidate its holdings of treasuries in an orderly manner without collapsing the Treasury market. 

 

There is no way the Fed can liquidate any toxic paper it took on from banks internationally in the crisis of 2008. 

 

There is no way the Fed can step away from QE which would mean higher interest rates without collapsing the flat line so called economic recovery. 

 

There is no way any human being could answer thousands of emails that are now overwhelming me.

 

I am deeply grateful for those CIGA around the world that browse for me, helping me keep in present time with all the unfolding monetary matters globally.

 

Whiners need only read the opening here to know that this is a passing but well constructed manipulative cloud. Those that are trying simply to frustrate me by sending emails cursing my genes that I was born are simply wasting their time and entering the spam blocker.

 

There is however a take away from this. Last night was the first time I went to sleep with a long list of incoming emails. I have no one to help me with emails because only I can answer them. For the first time, I must tell you that other than corporate emails I can no longer promise you prompt or even answers. I have a company to run, and that is my first order of business and that has always been and is my first order of business.

 

Sincerely, 
Jim

Hal's insight:

You won't find me in disagreement.

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Russia may raise Gold output by 5% every year till 2020

According to Russian Gold Industrialists' Union, country's gold production is likely to increase by 5 percent this year from 226 tonnes in 2012.

 

MOSCOW(BullionStreet): A day after Russian central bank announced adding 570 tons of gold to it's reserves in the last ten years, a top industry body sees country’s gold production at 226 tons in 2012.

 

According to Russian Gold Industrialists' Union, country's gold production is likely to increase by 5 percent this year from 226 tonnes in 2012.

 

The Union said Russia may increase production by 5 percent a year till 2020 if gold prices remain high. In 2011, Russia produced 222 tons of gold, driven by the development of Polyus Gold's projects. ...

Hal's insight:

Russia, like China, has a game plan for the chaning currency landscape and gold is key to that plan.

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Trader Dan's Market Views: Gold Drifting towards Bottom of its Range

Trader Dan's Market Views: Gold Drifting towards Bottom of its Range | Gold and What Moves it. | Scoop.it

The Asian holiday period has closed down some of the big physical market buys that we normally see from that quarter of the globe. The result has been a lack of physical offtake which typically helps offset speculative selling over in the New York trading hours.

That has allowed bears to take gold lower after it failed to pushed past overhead resistance last week near the $1685- $1690 level. Gold is now retreating towards the bottom of its 6 week+ trading range near $1640 and below.

Bears will try to break through this support level as there are significant sell stops lurking down there that have them salivating. I would expect some Central Bank buying to emerge ...

Hal's insight:

Click through for the full analysis and chart.

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What does Russia know that is motivating their purchase of gold? « Jim Sinclair's Mineset

What does Russia know that is motivating their purchase of gold?  « Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

My Dear Friends,

 

What does Russia know that is motivating their purchase of gold? What does China know that is motivating their intend to be the world largest owner of gold?  What is behind the downside manipulation to separate you from your gold by scaring the hell out of you and you out of your positions?

 

This occurred in the 70s. It is nothing new. What is new is you.

 

The answer is very simple. Gold is not valued at $42 as the US Treasury would have you believe. The majority of the BRICs are going to mark to market valuation of their gold. That will put a necklace of gold on their currencies.

 

It is the major gold banks now operating in hopes of producing a waterfall of gold into which they will accumulate. Believe me because I know.

 

You are being royally had. You have a defense even if you are fully committed on a cash basis – simply do nothing.

 

If you are a coward, admit it and do whatever you have to do to get it over with. That certainly will memorialize the bottom before gold trades over $3500.

 

I can help people with logic. I have no hope of herding cats.

 

Sincerely, 
Jim

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Eric De Groot: Long-term #Gold Buyers Smiling

Eric De Groot: Long-term #Gold Buyers Smiling | Gold and What Moves it. | Scoop.it

The Chinese New Year which temporarily removes Chinese participation often creates a demand vacuum in the physical gold market. These demand vacuums often setup elevator-shaft (sharp) declines ...

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Why 2.5 Billion Heartbeats Might Change The Way You Think About Money | WhereDoesAllMyMoneyGo.com

Why 2.5 Billion Heartbeats Might Change The Way You Think About Money | WhereDoesAllMyMoneyGo.com | Gold and What Moves it. | Scoop.it
I had the very extreme honour of being invited to give a TEDx talk recently. For those not who are not familiar with TED Talks, they are essentially a gathering
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Iran again invites Russia to join its oil and gas projects — RT

Iran again invites Russia to join its oil and gas projects — RT | Gold and What Moves it. | Scoop.it
Iran has offered Russian companies another chance to develop a number of its domestic oil and gas fields. The offer comes after several previous joint projects collapsed due to various reasons.
Hal's insight:

Keep in mind that Russia is a big gold holder. LOL

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The Golden Truth: State Of Collapse

The Golden Truth: State Of Collapse | Gold and What Moves it. | Scoop.it

by Dave in Denver:

 

"Leadership?  What leadership?  They're just figureheads.  Look at the money behind them?  It's just incredible to me that most people look at these politicians and they think that they're the people creating and implementing policy.  They definitively are not.  They are bought and paid for many times over by big corporate interests and wealthy individuals.  The rest is nothing but a dog and pony show.  The human version of the  Westminster Dog Show.

Take a look at the people Obama has appointed for Secretary of Treasury and the SEC.  You think for one second that if most of the people in this country bothered to look into their backgrounds and Wall Street track records and current Wall Street ties that they would vote for those two people if we could vote on appointments?   No way in hell.  Both Jacob Jack Lew and Mary Jo White are completely conflicted and heavily under the influence of Wall Street.  ...

Hal's insight:

Click over for the rest. I've tried to explain this to other friends of mine and they, like, Dave's colleage, just don't get it.

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Who Holds the Most Gold?

Who Holds the Most Gold? | Gold and What Moves it. | Scoop.it

The price of gold has been in consolidation mode for over a year. On Monday, the precious metal logged its third consecutive daily loss and reached its lowest level in five weeks. Gold produces very trying price swings for investors of the safe haven, but central banks are still keeping a tight grip on their holdings.


Central banks became net buyers of gold in 2009 for the first time in decades, with Russia and China leading the way. According to recent IMF data compiled by Bloomberg, Russia’s central bankadded 570.1 metric tons of gold to its stash over the past decade, the most of any nation in the world and almost triple the weight of the Statue of Liberty. China and Turkey were the next largest gold accumulators with 454.1 and 243.5 metric tons, respectively.

 

Evgeny Fedorov, a lawmaker for Vladimir Putin’s Untied Russia party, tells Bloomberg, “The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency.” ...


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Nepal Gold imports up nearly 15%

Nepal Gold imports up nearly 15% | Gold and What Moves it. | Scoop.it
Nepal Gold and Silver Dealers Association said import value of gold shot up by double digit during the six-month period even though daily imports of gold through formal channel remained unchanged at 15 kg.

 

KATHMANDU(BullionStreet): Nepal imported 14.38 percent more gold during the first half of this fiscal as against the same period of last fiscal year.

 

According to Nepal Trade and Export Promotion Center, the nation imported gold worth Rs 13.28 billion in the six-month period to mid-January as against Rs 11.61 billion recorded in the same period last year.

 

The Center attributed the hike to international price hike of the precious yellow metal and depreciation of Nepali currency. ...

Hal's insight:

Now why in the world would they want gold, hmmm? LOL  

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Embry - 1,000 Ton Swing In Gold, Russians & Chinese Buying

Embry - 1,000 Ton Swing In Gold, Russians & Chinese Buying | Gold and What Moves it. | Scoop.it

John Embry told King World News:

 

“... I will tell you something else, both of these countries are aware of everything that GATA has alleged for the past 14 years.  I went to a conference in the Yukon back in 2005, and one of the guys attending was Putin’s right hand man, Andrey Bykov.  Bykov was fascinated at what was being presented.  Not surprisingly, the gold price went up about 60% over the next six months.  I believe it was the Russians buying, and we are continuing to see them acquiring gold.

 

The Russians are one of the largest buyers of central bank gold, and they are aware of the true nature of the gold market.  Mr. Putin and his associates are saying that if the US dollar gets into a difficult position, those countries which have a lot of gold to back their currencies are going to be in an infinitely better position than those that don’t. ...

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Peru 2012 mineral exports shrink 1.7% on Gold

Peru's national statistics agency INEI said the nation saw a 1.7% fall in mining exports in 2012 due to an 11.4% decrease in gold exports.

 

LIMA(BullionStreet): Decrease in gold exports trim overall mineral exports of Peru by 1.7 percent last year.

 

Peru's national statistics agency INEI said the nation saw a 1.7% fall in mining exports in 2012 due to an 11.4% decrease in gold exports.

 

In December last year, country's gold exports took a 35.2% dive in December from $191mn in 2011 to $124mn last year.

 

The lower gold exports contributed to the 18.7% drop in overall mineral exports in the last month of 2012.

Hal's insight:

Hmm... This is interesting. I wonder what this will hold for gold demand?

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Duty hike boosts Gold smuggling in India

Duty hike boosts Gold smuggling in India | Gold and What Moves it. | Scoop.it
Despite India's best efforts to curb illegal gold imports, which included a boost to the nation's customs in 2012, gold smuggling has been rather rampant.

 

MUMBAI(BullionStreet): Cases of smuggled gold entering India are coming in thick and fast. Almost as fast as gold coins and jewellery pieces are flying off retail shelves.

-- A brother-sister duo who arrived in Hyderabad by an Emirates flight from Dubai, were arrested for trying to smuggle in 8kgs of gold ornaments.

-- Mumbai airport custom officials arrested a Somali national with a Dutch passport, for attempting to smuggle in 5kgs of gold. -- Eighteen kgs of gold were confiscated in Hyderabad and Chennai at their respective airports.

-- Seven people including three Sri Lankans were arrested by Indian Customs officials at the Chennai airport trying to smuggle ...

Hal's insight:

LOL I'm shocked. Shocked, I say.

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Sprott - Default Coming As 850 Tons Of Gold Supply Vanished

Sprott - Default Coming As 850 Tons Of Gold Supply Vanished | Gold and What Moves it. | Scoop.it

Today billionaire Eric Sprott told King World News that the massive plunge in gold scrap recycling may be removing as much as a staggering 850 tons of gold from world supplies each year.  Sprott, who is Chairman of Sprott Asset Management, also warned of a coming default on the COMEX, “And when it (the default) happens, there will be a substantial move in the price of gold (and silver). We’ll make up for these last two years in no time.”


“KWN has been receiving information from refiners for quite some time, and this was from one of the largest metals refiners in the world, “The secondary market, which is scrap, business is down almost 50% year over year, and the previous year was already a down year.  The only supply now is coming from the miners.  This applies to both gold and silver.  Gold and silver bar and coin demand is very strong and the supply has essentially dried up.” ...

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Nothing Is Real In Markets Any More, This Will End Badly

Nothing Is Real In Markets Any More, This Will End Badly | Gold and What Moves it. | Scoop.it

Egon von Greyerz told King World News:

 

“... Just look at the stock market, Eric.  For a few months I predicted in these interviews that we would see new highs in stocks, and this is exactly what is happening.  But this is a sucker’s rally.  It will draw everybody in and we will see new highs before we see a secular bear market starting.  That bear market will last for many years, Eric.  

 

This rally we’re seeing now has many signs of a bubble.  Margin debt is at a high, and mutual fund liquidity is at a record low.  So this rally isn’t real, it’s a rally based on QE and money printing.  What we are seeing now is exactly what we have seen in many hyperinflationary economies like the Weimar Republic and Zimbabwe.  Initially stock markets surge before they collapse along with the economy.

 

The next major market which is unreal is the bond market.  This market is totally manipulated by governments as they set interest rates at zero and then buy their own debt.  The Fed holds over 30% of the 30-Year Treasury bonds which have been issued since 2009.  The Fed also holds 29% of the 10-Year bonds.

 

Even worse, in February of this year the Fed will be 75% of the 30-Year bond auction.  Well, as I’ve said many times, you can’t issue unlimited credit and have zero interest rates.  Eventually the law of supply and demand will prevail, and will ...

Hal's insight:

Click through for the full piece and his thoughts on gold.

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Iran may use Revolutionary Guards to smuggle Gold

The Islamic republic began to demand gold in exchange for oil after it was ejected from the SWIFT international electronic banking system last year.

 

TEHRAN(BullionStreet): Iran has formed a large network of private front companies to engage in gold trade for the nation after US led economic sanctions blocked all legal routes.

 

According to reports, the Iranian regime even recruited members of it's elite Revolutionary Guards for the purpose to circumvent the economic sanctions.

 

As per the new plan, members of the RG flew to different destinations of the world to physically carry gold back to Iran.

 

Iran is not known to release any official statements about ...

Hal's insight:

LOL Which is to say, they are moving a lot of gold.

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James Turk - Last Piece Now In Place To Trigger Hyperinflation

James Turk - Last Piece Now In Place To Trigger Hyperinflation | Gold and What Moves it. | Scoop.it

... “Increasing attention needs to be given to what is happening with the quantity of money, Eric.  All the money printing ordered by central planners is starting to take effect.  US dollar M1 has now been growing at double-digit rates for two years.  Over the same period M2 growth has been in the high single digits.  Even the broader measure of dollars, M3, which is calculated by ShadowStats.com, is at 4.5%, which is the highest rate of growth in more than 3½ years. 

 

Money is no different from any other good or service.  It too complies with the laws of supply and demand.  If you create money at a rate faster than the demand for it, its ‘price’ declines, which for money is its purchasing power.  With crude oil and other commodity prices like copper continuing to work their way higher, the purchasing power of dollars and other fiat currencies is being eroded.  So all of this money printing is clearly taking hold and becoming apparent.  That gold and silver prices remain in their trading ranges suggests to me that both of them have some catching up to do with the price rises we are seeing in some basic commodities.

 

What is clear is that central banks have flooded the world with QE ...

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