Gold and What Moves it.
82.7K views | +2 today
Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
Curated by Hal
Your new post is loading...
Your new post is loading...
Scooped by Hal
Scoop.it!

Brazil has no gold reserves, just claims against bullion banks, Goldcore discloses | Gold Anti-Trust Action Committee

Brazil has no gold reserves, just claims against bullion banks, Goldcore discloses | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

GATA writes:

 

"Gorecore [sic] reports today that Brazil's gold reserves really aren't gold reserves at all but just "deposits" with -- claims against -- bullion banks. Can the Banco Central do Brasil really be unaware of the Western central bank gold price suppression scheme? Or is this insult to Brazil's sovereignty the price of admission to the scheme and to the fraternity of Western central banking? These are compelling questions for financial journalism in Brazil...."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Indian government may offer bonds payable in gold | Gold Anti-Trust Action Committee

Indian government may offer bonds payable in gold | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

By Mahua Venkatesh and Anupama Airy

 

"You may soon have options to invest in new financial instruments that are linked to gold, such as a possible gold bond.

 

"With savings rates dropping from 35% about five years ago, the government, trying to boost savings and discourage hoarding of gold in physical form as a speculative activity, is planning to soon come out with attractive paper products including gold bonds, riding on India's craze for gold.

 

"Though the details are yet to emerge, experts say that in such instruments investors may be allowed to invest cash or offer gold against an assured minimum return.

 

"At the time of maturity investors are given the option of receiving gold or cash. The funds raised are likely to be used to build infrastructure projects. The government is expected to offer soverign guarantee to notified companies that can sell such bonds and back it up with hedging in global gold markets to assure minimum returns linked to the metal. ...."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Surprise: PA College Slashes Instructors' Hours to Avoid Obamacare

Surprise: PA College Slashes Instructors' Hours to Avoid Obamacare | Gold and What Moves it. | Scoop.it
Pennsylvania's Community College of Allegheny County (CCAC) is slashing the hours of 400 adjunct instructors, support staff, and part-time instructors to dodge paying for Obamacare.
more...
No comment yet.
Scooped by Hal
Scoop.it!

China is now the world's biggest Gold producer and consumer

China is now the world's biggest Gold producer and consumer | Gold and What Moves it. | Scoop.it
Chinese gold imports are increasing as well. Most come through Hong Kong. Between 2010 and 2011 they tripled.

 

By Dominic Frisby


"In 2010, China became the world’s biggest gold producer, mining 340 tonnes. This was an increase on the previous year, which itself was up on the year before that, and so on.

 

"In 2011 (not on the chart) there was another rise to 361 tonnes.

 

"This is a very different picture to the output of the other major gold producers: the US (peaked around 1997), Russia (peaked around 1958), Australia (1997), South Africa (1971) and Peru (2003).

 

"Chinese gold imports are increasing as well. Most come through Hong Kong. Between 2010 and 2011 they tripled. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Banker Bailouts, Indefinite Detention, Money Printing, MSM Ignored Real Issues | Greg Hunter’s USAWatchdog

Banker Bailouts, Indefinite Detention, Money Printing, MSM Ignored Real Issues | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
Greg Hunter USAWatchdog.com  It’s hard to believe how little Americans know about the real issues facing them after $6 billion was spent by both parties...

 

"... The real fiscal cliff isn’t what is coming at the end of the year. It is the debasement of the U.S. dollar at the hands of the Federal Reserve that is printing $85 billion every month in “open-ended” currency creation. According to experts, it is only a matter of time before the U.S. bond market collapses with an interest rate spike that money manager Michael Pento says will turn into “an interest rate shock that will make the Great Depression look like the days of wine and roses.” Not a word in the debates or questions by the MSM to the candidates about money printing on a scale that has never been done in human history.

 

"The 2008 financial meltdown was caused by a housing crisis created by big banks. They sold “liar loans,” packaged those loans into mortgage-backed securities, they were rated “Triple-A” when they were “toxic;” and when it all blew sky high, the bankers committed forgery, perjury and fraud that was politely called “robo-signing.” According to Professor William Black, who was also a top regulator in the Savings and Loan crisis of the 1980’s, more than 1,000 financial elites were successfully prosecuted in the aftermath of the S&L calamity. The 2008 meltdown was 70 times larger. There has not been a single financial elite charged with a crime. This fraud and crime is one of the main reasons the economy is still in deep trouble. According to Fabian Calvo of TheNoteHouse.us, “We haven’t even scratched the surface of being at the bottom of the housing market.” (His company buys and sells $100 million a year in real estate and sour mortgage debt.) $40 billion of the $85 billion the Fed prints every month is going for continued banker bailouts. You can talk all you want about raising taxes on rich, but the real money is in the banker bailouts. No meaningful discussion or questions were asked of the Presidential candidates on this subject either. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Doug Casey on the America That Was – Now the United (Police) State of America - Casey Research

Doug Casey provides compelling evidence that the US is no longer the land of the free.
more...
No comment yet.
Scooped by Hal
Scoop.it!

Even if You Hate Gold, You Should Buy It - Casey Research

By Vedran Vuk

 

"There have been decades of debate in finance over gold – long before the recent, rapid rise in gold prices. Some see gold as a way to diversify into an asset with less direct correlation to the overall market. Others view gold as no more than a lump of yellow metal. It produces no cash flows. How can it be possibly worth anything?

 

"In a way, the naysayers are right. Gold does not produce any cash flows, so that naturally makes it suspect. If someone were trying to sell me a stock that produces no cash flows and never will, I'd tell him where to stick that stock –and let me tell you it wouldn't be inside my brokerage account.

 

"However, any company faces this same problem with its products. Take Apple, for example. Does Apple produce cash flows and dividends? Of course it does. At the same time, its products don't do anything… they're not much different than a lump of gold. No, I'm not crazy. Your Apple iPad does not produce cash flows. Not a single cent – just like an ounce of gold. Of course, Apple sells iPads to make cash flows and dividends, but really the same is true with gold. Newmont Mining and Barrick Gold also earn cash flows and pay dividends as well by selling their product: gold. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

More Americans Will Use Food Stamps For Thanksgiving This Year Than Ever Before

More Americans Will Use Food Stamps For Thanksgiving This Year Than Ever Before | Gold and What Moves it. | Scoop.it
The USDA says average participation in food stamps has increased 70 percent over the last five years.

 

"More Americans will use food stamps to buy their Thanksgiving dinner this year than ever before, according to a new report from the nonprofit government watchdog group The Sunlight Foundation. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Prepare For A Possible Price Spike In Gold And Silver | Jeb Handwerger | Safehaven.com

Prepare For A Possible Price Spike In Gold And Silver | Jeb Handwerger | Safehaven.com | Gold and What Moves it. | Scoop.it

By: Jeb Handwerger

 

"The U.S. election results are in. The people have chosen. Subscribers are well aware of the changing rules of the game will conform to the latest economic developments. There may well be a period of negativity relating ...

 

"Could it be that the proponents of entitlement have voiced their feelings in this recent election? The majority of the American People may well be in favor of priming the pump to satisfy their lifestyles.

 

"We have become a nation of debtors. Between mortgage, student loan and credit card debts the average citizen owes over $50,000. To a certain proportion of our nation free and easy fiat money may well be the way to go in the short term.

 

"Eventually, the piper must be paid. We may have to face one day that the party is over. Our large creditors such as the Chinese are already looking to diversify away from U.S. debt and the dollar.


"Our critics have felt that our patience with precious metals positions are not buy and hold, but buy and hope. So far our long range charts signal that gold and silver are in a continuing bull market, which are sometimes obfuscated by a concentration on the short term tactical decisions. The technical picture reveals the opposite. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Happy Times Await Gold Investors

Happy Times Await Gold Investors | Gold and What Moves it. | Scoop.it
Stock investors gave a resounding thumbs down to the successful re-election campaign of Barack Obama.  The day after voters decided to give President Obama a...

 

"... Impact of the fiscal cliff on the price of gold

 

"Portfolio manager David Hemming projects that the US fiscal cliff provides strong support for precious metals and commodities. Gold and silver, acting as both a safe haven and currency, should continue to outperform. Helping to escalate gold prices were comments by the President indicating that if the lawmakers don’t conclude to an agreement on the unresolved financial issues by the end of the year, the economy could enter a recession. Renewed economic weakness would lead to additional Fed easing and the potential for increased inflation, both of which would benefit the price of gold. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

The Golden Truth: Got Gold? Central Banks Are Getting Large Quantities

The Golden Truth: Got Gold? Central Banks Are Getting Large Quantities | Gold and What Moves it. | Scoop.it

Dave in Denver writes:

 

"Brazil's Central Bank announced the purchase of over 17 tonnes of gold in October. Here's the commentary on this from UBS precious metals strategist Ed Tully:

 

"There may be a flutter of excitement in the market today with news that Brazil's official reserves of gold rose 17.2 tonnes in October, according to IMF statistics. This follows on from the 1.7 tonnes of buying in September and brings total Brazilian gold reserves to 52.52 tonnes. This is a chunky purchase by a central bank, and the gold market will likely sit up and pay attention to today's news, not just because of its size but because this is a central bank that has not been active in the market for some time. Gold struggled in October, and without this official sector buying the move below $1700 would likely have been much more severe than the short lived dips transpired to be. Today's news confirms much of the market chatter at the time that official sector buying was taking place and was one of the key factors that gave prices a reasonable floor last month.

 

"In fact, several non-Fed/BOE Central Banks increased their gold holdings by over 40 tonnes in October. We know that China, in addition to retaining 100% of the 25 tonnes per month it produces, has been importing bullion hand over fist.

 

"Gold and silver have been unusually resilient in the face of one of the more overt attempts by the U.S. bullion banks to trigger a COT open interest liquidation sell-off. For those of us who have been trading and researching the metals market for the past 11 years of the bull market, the attempted manipulation has never been more transparent, nor has the ability of the market to withstand this big bank flagrancy. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Guest Post: Price Suppression Mechanics of GLD and SLV, by Andrew Maguire

Guest Post: Price Suppression Mechanics of GLD and SLV, by Andrew Maguire | Gold and What Moves it. | Scoop.it
Almost all of us have been baffled over the years by the almost daily withdrawals and additions to the primary metal ETFs, GLD and SLV.

 

"Most of us have been baffled over the years by the almost daily withdrawals and additions to the primary metal ETFs, GLD and SLV. There are seemingly no correlations to price movements, just additions and subtractions of inventory without basis in fundamentals. Today, we attempt to solve this riddle.

 

"The daily metal movements into and out of the funds is only a small part of the much larger trend. Do you recall these charts from the HardAssetsAlliance and Casey Research? They show that, even while prices have increased dramatically over the past three years, net additions have fallen precipitously. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

We Are Speeding Towards Economic & Social Devastation

We Are Speeding Towards Economic & Social Devastation | Gold and What Moves it. | Scoop.it

Today 40-year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, stated, “History says that once set in motion, fiat money schemes cannot be reversed. Tragedy and collapse are the terminal destinations.

 

“Andrew Dickson White was a professor of history in the second half of the 19th century. He also convinced Ezra Cornell to create the great university which bears his name. White became the first president of Cornell. The goal was to create “an asylum for science where truth shall be taught for truth’s sake”.

 

"White’s relevance to today’s investors is his compilation of a lecture that looked at the French experience with fiat money during the French Revolution in the waning years of the 18th century. His work was published in book form under the title of “Fiat Money Inflation In France”.

 

"There certainly have been countless other experiments with paper-based currencies, but this episode stands out from the many other such episodes in monetary history. One of the reasons is that the French had suffered through another hyperinflation just 70 years before.... "

more...
No comment yet.
Scooped by Hal
Scoop.it!

Real Rates and Gold 11 | Adam Hamilton | Safehaven.com

Real Rates and Gold 11 | Adam Hamilton | Safehaven.com | Gold and What Moves it. | Scoop.it
Early in gold's secular bull, contrarian investors looked to real interest rates as one of this metal's primary drivers. Eleven years ago when gold still languished under $300, mainstreamers scoffed at the notion that there would ever be ...

 

"... So while the world's above-ground gold supply spent three decades growing on the order of 37% to 88% thanks to mining, the Fed has inflated the US dollar supply by 1222%. So the amount of dollars available to chase gold as it becomes more popular are vast beyond imagining compared to what was available at the apex of the last secular bull. An 8%+ annual money-supply growth rate dwarfs a 1%-to-2% gold one into inconsequentiality.

 

"Today's secular gold bull is therefore destined to peak at real levels multiples higher than what we saw back in early 1980. And just like in that last secular bull, negative real rates will be a major driver. The longer they stay negative, the more they will sour bond investors on getting poorer for lending their hard-earned surplus capital. As they migrate into gold, they will continue bidding up its price, attracting others.


"And this virtuous circle of bond flight capital migrating into gold will be massively larger this time around, for another simple reason. Back in 1970 before real rates went negative and catapulted gold higher, nominal yields were running around 4% at worst. Today they are less than 0.2% for a 1y Treasury! Rising interest rates are far more dangerous to bond investors than inflation, and the risks today are staggering. ,,,:

more...
No comment yet.
Scooped by Hal
Scoop.it!

Clamor about gold reserves prompts leasing disclosure by Austrian central bank | Gold Anti-Trust Action Committee

Clamor about gold reserves prompts leasing disclosure by Austrian central bank | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

Germany's clamor and agitation about the integrity of national gold reserves are spreading into Austria, where two national newspapers headquartered in Vienna, Die Presse and Der Standard, this week raised questions about Austria's national gold and even prompted a response from the country's central bank, the Oesterreichische Nationalbank (OeNB).

more...
No comment yet.
Scooped by Hal
Scoop.it!

Trader Dan's Market Views: Gold Clears Chart Resistance in Light Volume Holiday Trade

Trader Dan's Market Views: Gold Clears Chart Resistance in Light Volume Holiday Trade | Gold and What Moves it. | Scoop.it

Dan Norcini writes:

 

"Gold has breached overhead chart resistance centered near the $1740 level in extremely light holiday trade. One thing to keep in mind about this is that pit locals are notorious for using these ultra thin trading conditions to go hunting for upside or downside stops. Since there is not the depth of liquidity that is normally present in the market, resistance to their hunting party efforts is minimal.

 

"What this means for chart watchers is that one has to take the price movements with a bit of healthy skepticism. If the move is for real, it will hold on the resumption of trade during the next trading period. In our example - gold will need to remain above its breakout level of $1740 during both Sunday evening trade in Asia and during Monday trade here in the US.

 

"The same goes for silver. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Trader Dan's Market Views: Why not just cease and desist ALL TAXATION OF YOUR CITIZENS COMPLETELY

Trader Dan's Market Views: Why not just cease and desist ALL TAXATION OF YOUR CITIZENS COMPLETELY | Gold and What Moves it. | Scoop.it

Dan Norcini asks a great point:

 

"... I have a bit of counsel to the political and monetary authorities. Why not just cease and desist ALL TAXATION OF YOUR CITIZENS COMPLETELY. You obviously can conjure into existence, out of nothing, all the money that you need. Why bother taxing anyone? Just print what you need and end the illusion of possessing any sort of discipline or ethics altogether..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

The Roadmap For $3,000+ Gold, $100+ Silver & 1,650 HUI

The Roadmap For $3,000+ Gold, $100+ Silver & 1,650 HUI | Gold and What Moves it. | Scoop.it

Ron Rosen tells King World News:

 

“Since the bull market in gold began in the year 2001, a new high took place at every LTD (Long-Term Delta) #4 high. All LTD #4’s were highs. Gold is now moving up to LTD #4 high due February 2014. If gold arrives on the due date and touches the upper trend line the price will be over $3,000 (the arrow in the chart below is pointing to a $3,000+ target for gold by February 2014). ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Richard Russell - Attempts To Defeat Deflation As Money Dies

Richard Russell - Attempts To Defeat Deflation As Money Dies | Gold and What Moves it. | Scoop.it

Richard Russell tells King World News:

 

"I ask myself, why hold any dollars at all? What's the danger of holding everything in dollars? And my answer is -- when it comes to investing, nothing is certain. Sure, it looks as though Fed printing (now that Obama is in for another four years) will continue for the next four years or, at least, until Bernanke is convinced that he has defeated deflation.

 

"Wait, what could cause Bernanke to halt flooding the system with his fiat notes? I think runaway inflation in tangible goods and political pressure could halt the Fed's wholesale manufacturing of Fed notes. Scandalous bubbles might appear. Bubbles in college costs, bubbles in medical, bubbles in collectibles, bubbles, in insurance costs, bubbles in food prices, bubbles in energy costs, bubbles in consumer optimism. Of course, none of this would appear in the Labor Department's phony CPI statistics. As we all know, figures don't lie, but liars can figure.

 

"At any rate, I'm personally torn between putting all my assets into bullion gold coins or leaving half in gold and half of my assets in US dollars. Very frankly, I'm no longer even thinking of making money in the markets ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold Confiscation - An Unlikely Scenario

Gold Confiscation - An Unlikely Scenario | Gold and What Moves it. | Scoop.it

by Alex Canahuate:

 

The specter of confiscation has haunted gold investors for some time, but with increasing persistence as a legitimate "recovery" fails to materialize.

 

".. Upon a more detailed review, it is obvious that the circumstances which precipitated the 1933 gold confiscation are not applicable today. While debt concerns were prevalent then -- and are even more so today -- the reality is that the government will always prefer to manipulate the fiat currency system rather than engage in the operational nightmare that would be a current-day gold confiscation. Besides difficulty, the government can affect economic changes via policy tweaks more surreptitiously than by using more overt measures like confiscation. In an era of record low Congressional approval and an atmosphere of political fatigue amongst the general public, the likelihood of our policymakers passing unpopular confiscatory policies remains unlikely at best.

 

"As I initially said, anything is possible. However, a more plausible concern is the adoption of exchange controls, which ultimately limit citizens' ability to move money and assets in and out of a country and currency. In a hypothetical, future environment of hemorrhaging dollar value and slumping demand, the U.S. government may find itself in a position where it has to implement exchange controls to keep Americans from dumping dollars in favor of other currencies and non-dollar denominated assets. ..."

 

 

Hat tip to Roger, https://twitter.com/MonetaAdvisors ;

more...
No comment yet.
Scooped by Hal
Scoop.it!

The Root of America’s Problem … | Uncommon Wisdom Daily

The Root of America’s Problem … | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it
The Fed’s promise to print 40 billion new dollars every month is pushing thousands of savvy investors into gold. However, as the need for gold grows, so too do the risks of buying it and owning it ....

 

"A Powerful Shift Is Under Way

 

"In the wisdom traditions of the world, such sayings are found as “every high thing shall be made low,” or that yin becomes yang and yang becomes yin.

 

"So maybe we shouldn’t be surprised that America has become less-free — and, necessarily, less-prosperous.

 

"And maybe it shouldn’t be surprising that people in China and much of the rest of the world have struggled out from under the boot of the state and, becoming more-free, are also becoming more-prosperous.

 

"Wouldn’t it be a sad irony — sad for us, anyway — if the outcome of this dynamic should be that China increasingly embraces free markets and economic freedom, while the United States continues its downward spiral into statism?

 

"That seems to be the case. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Monthly Charts Clarify Prognosis for Gold & Silver | The Daily Gold

Monthly Charts Clarify Prognosis for Gold & Silver | The Daily Gold | Gold and What Moves it. | Scoop.it

by Jordan Roy-Byrne"

 

"... The evidence argues that the bottoms remain well intact and the metals are consolidating before the next breakout which entails Gold breaking $1800 and Silver $35. However, these breakouts are by no means imminent. Since we are dealing with monthly charts that means potentially three or four more months of consolidation. Furthermore, sentiment data such as the COT structure and public opinion polls need some improvement before the market could sustain a breakout. Thus, more consolidation could be the order of the day for the metals.

 

"Continued consolidation in the metals also helps explain recent weakness in the HUI, which is simply testing the lower half of its own consolidation. The shares see the weakness in the overall market and perhaps sense that an immediate breakout in the metals is unlikely Furthermore, while central banks have put themselves in position to act they haven’t actually done anything yet. When the market senses their action it will likely mark a final low within this consolidation.


"The good news is the metals remain in fine shape and ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Jesse's Café Américain: New Twists In MF Global Scandal Focus On the CFTC - A Bastille of Deceit

Jesse's Café Américain: New Twists In MF Global Scandal Focus On the CFTC - A Bastille of Deceit | Gold and What Moves it. | Scoop.it

"Mark Melin has been doing an excellent job of covering the MF Global scandal and cover up. With a few notable exceptions like Forbes, the mainstream media has been silently complicit. Investigative journalism is far less safely profitable than staged debates amongst commercially endorsed opinionators. The news gives way to spectacle.

 

"This is an excellent example of the credibility trap. That blatant theft occurred and no indictments and prosecutions have resulted seems so unbelievable that most tend to ignore it. You don't understand, it takes time, it takes time. Yes, to cover things up, to kick the can down the road, and hope that the people lose interest.

 

"And yet this is just one instance of the distortions that are plaguing the global commodity and financial assets markets. The long delayed investigation into the silver market is most likely another.

 

"The most urgent problem facing the US and the Western nations is not a 'fiscal cliff.' It is the pernicious corruption in the financial system that has captured the politicians of both parties, and distorted the public conversation through influence in the media and directing the opinions and buying the research of 'experts' through the power of big money. The people are held hostage in a Bastille of deceit. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Debt Crisis Solutions are Leaving Investors Behind

Debt Crisis Solutions are Leaving Investors Behind | Gold and What Moves it. | Scoop.it

"How the losses are being paid for... IT USED TO BE taken for granted that you could put aside some money and earn enough interest to be better off than when you started.

 

"As the world continues to struggle with the aftermath of an enormous credit boom and its subsequent bust, though, this kind of objective seems hopelessly naïve. Events in Europe and the US this week are the latest reminder of this. To see why, let's start with a riddle:

 

"If I owe you €10,000, and the amount of money I have is zero, is it possible to let me off the hook without you taking a loss?

The question is rather silly, yet it is analogous to the one facing policymakers in Europe right now as they decide what to do about Greece. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold smuggled out of Burma in to China

Analysts said if the Burmese government had not forbidden gold merchants from speculating, the gold price could have trim the huge margins with global prices.

 

YANGON(BullionStreet): "Burma's gold trade remained sluggish as demand is almost dead as a result of the inflated prices but gold is being traded illegally on the black market, analysts said.

 

"Myanmar Gold Entrepreneurs Association said gold was being smuggled to China and authorities have yet to take any effective measures to prevent it.

 

"Smugglers are making a lot of money as the Chinese are offering prices near to global level for gold they accumulate from Burma which is way below global levels.

 

"Association said people are taking the opportunity of selling their jewelry to black marketeers at these high prices on the basis that they can buy back when the prices go down again.

 

"The Association said that curbing illegal gold trading would enhance the stability of the Burmese gold market. They believe that the price of gold will continue to increase in the country until the end of the year. ..."

more...
No comment yet.