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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Meltdown in America? We are witnessing capital flight of proportions unmatched in modern history

Meltdown in America? We are witnessing capital flight of proportions unmatched in modern history | Gold and What Moves it. | Scoop.it

from Moses Kim:

 

"... I understand how crazy it is to say we are approaching a total meltdown in America. But all you have to do is read history to know that really crazy things happen all the time. The people who have their heads in the clouds dreaming about an unattainable utopia are wrong. So are those who perpetually warn that the end is near. The truth is that history cycles between extremes. All I’m saying is that we are entering one such extreme, and it just happens to be the bad kind.

 

"The Major Trends

 

"The major trends are really easy to spot. Most people know something is wrong, they just can’t pinpoint exactly what it is. Their confusion leads them to false conclusions such as “the rich don’t pay their fair share. Let’s raise taxes on those bastards!” Little do they know that this kind of class warfare has occurred throughout history, and getting the rich bastards never solves anything.

 

"We are witnessing capital flight of proportions unmatched in modern history. The wealthy are selling their investments and locking in their profits before capital gains taxes rise. ..."

 

Click over for the full piece.

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We Have a Shortage of Gold-Eric Sprott

http://usawatchdog.com/central-banks-gold-likely-gone-eric-sprott/

 

Money manager Eric Sprott says, “The central banks’ gold is likely gone with no realistic chance of getting it back.” Don’t expect this revelation to get any coverage by the mainstream media. In an interview last week, Sprott’s analysis was met with words such as “gold bug” and “conspiracy theory.” Sprott answers that sort of disrespect by saying, “We’ve had so many conspiracies, I don’t know why anyone would think this was unusual.” To back up his point, he named “LIBOR, electricity markets in California and the Madoff” scandals. Sprott’s analysis shows a “flat supply” and at least a “2,500 ton net increase in gold demand” since 2000. “Where’s all the gold coming from?” asks Sprott. He says Western central banks “. . . keep supplying this market with product in order to keep the price down so nobody knows how vulnerable the situation is.” Sprott, who manages nearly $10 billion in assets, boldly proclaims, “We have a shortage of gold.” Join Greg Hunter as he goes One-on-One with Eric Sprott of Sprott Asset Management.

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Turk - This Is The Chart That Every Investor Needs To See

Turk - This Is The Chart That Every Investor Needs To See | Gold and What Moves it. | Scoop.it

James Turk tells King World News:

 

"... the stock market is not rising because of good economic activity, which is understandable. The economy will not be improving until employment starts growing again. After all, that is what economic activity is all about - people working and saving or spending the money they earn. And here's the horrific part.

 

"On an inflation adjusted basis, on average people in the US are earning an income which is lower than it was years ago. The Financial Times here in London reported recently that the median income of American households is at to its lowest level since 1995, and that's using the government's own CPI calculation, which is as fictitious as the unemployment report that shows fewer people out of work. Government economists and their reports are politically motivated. Inflation is much higher than the government reports, and so is unemployment.

 

"Private economists show a much higher level of unemployment. ..."

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The Golden Truth: More Housing Hype/Hope

The Golden Truth: More Housing Hype/Hope | Gold and What Moves it. | Scoop.it

Dave in Denver writes:

 

"'If you tell a lie big enough and keep repeating it, people will eventually come to believe it' - Joseph Goebbels, Hitler's Propaganda Minister

 

"Many of you woke up yesterday to news that existing home sales for October were higher than expected and that the homebuilder sentiment index had reached a 6-yr high. This morning, housing starts were reported and were better than expected, although this reading was achieved by revising last month's data report lower. All three data points are being promoted as evidence that housing was recovering. See the quote above.

 

"To put a "truth" dent into the existing home sales report, the data as it's being promoted is not supported by fundamental evidence. For instance, with existing home sales, although there was an increase, it would look to be as a result of investment in rental buyers and maybe some speculators. If you review the mortgage purchase application data for September and October, there has been a definitive downtrend. "Organic" buyers who are buying a home to live in as a primary residence - the bread and butter of a healthy housing market - require mortgage financing in order to purchase a home. The data being reported on mortgage purchase applications does not indicate that the existing home sales are being purchased by this type of buyer. ..."

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Basel III And Gold

"... The most significant change is moving gold from its tier 3 status to tier 1 capital as 100% loan-backing reserves, the same as cash and bonds. For the first time in 42 years, gold is being brought back into our financial system as money. All the world's banks are now storing this metal, not as some 3rd rate "asset," but as all the world's working capital - its money. So it's not just any voice, it is the ultimate voice on what is money that has spoken. Gold was removed from our system by Nixon in 1971, when he took us off the gold standard by disallowing foreign governments to exchange their dollar reserves for US-held gold. Ironically, they were doing this in great volume because of Washington's lack of fiscal discipline. Now, as gold has appreciated from $35 to $1700 in the unofficial gold standard interim, Washington's lack of fiscal discipline is again an issue, and we are now being forced to recognize gold as official money again.

 

"You probably were not aware of any kind of return to gold as official money, but these Basel III rules are set to go into effect January 1, 2013 and have prompted Brian Hicks to call it "The Secret Return to the Gold Standard." Brian Hicks is the managing editor and chief investment analyst of The Wealth Advisory. In addition, Brian is a contributor to Wealth Daily and Crisis And Opportunity. He has been a keynote speaker at international investment conferences, as well as a guest commentator on the financial television networks, CNBC, and others. Hicks was part of a small minority opinion (including me) years ago, the peak oil nuts, saying that with oil going to a then shocking $70, we were entering a new age of higher oil. This was in the face of the prevailing opinion verbalized best by Steve Forbes when he said that market forces would fix the oil "spike," and we would soon be back to a normal $40. Now we are paying $110 Brent in a really bad global economy. He was right about oil, and so far, he has been right about what is happening with gold. ..."

 

hat tip to www.grandich.com

 

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Treasury Secretary Geithner: Lift Debt Limit to Infinity | CNS News

Treasury Secretary Geithner: Lift Debt Limit to Infinity | 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.

 

click through for the rest and the video

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Robert Campbell sr.'s comment, November 20, 2012 11:12 AM
The Real Progressive Communist Transformation...Multicultural Subversion and Economic Terrorism of America...
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Upcoming Crash Will Be ‘Worse Than 2008’ Says Economist Peter Schiff

Upcoming Crash Will Be ‘Worse Than 2008’ Says Economist Peter Schiff | Gold and What Moves it. | Scoop.it
“The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . .

 

By Christian Hill

 

Investors need to prepare for an upcoming stock market crash that will be “worse than 2008.”

 

That’s according to a well-respected author and investor, making a recent appearance on Fox Business.

Peter Schiff, the CEO of Euro Pacific Capital, says the stock market collapse we experienced in 2008 “wasn’t the real crash. The real crash is coming.”

 

He says that Federal stimulus, or quantitative easing, never works and that it just makes the economy sicker in the end. “The reason we are so screwed up is all this quantitative easing is toxic. I don’t doubt that we are going to pressure Germany into printing. We are like the kid who is trying to get a friend to ditch school with us to go to the beach. We are a bad influence on everybody.”

 

Schiff’s solution is to raise interest rates, but he acknowledges that it would bring a huge downside risk with it. “In America, the problem is that interest rates are too low. They have to go up. We can’t have an economy with interest rates at zero. If the Fed lets interest rates go up, we have to realize that we will have a deeper recession, we have to realize that banks are going to fail.”

 

Read more: New Crash will be worse than 2008 says economist
Important: Can you afford to Retire?

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US to probe JP Morgan on money-laundering — RT

US to probe JP Morgan on money-laundering — RT | Gold and What Moves it. | Scoop.it
US regulators are reportedly expected to charge America’s biggest bank JP Morgan Chase & Co with failure to prevent money-laundering.

 

Umm.... LOL... ROFL... HAHA. Yeah right......

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VTB Capital to start issuing 'golden bonds' — RT

VTB Capital to start issuing 'golden bonds' — RT | Gold and What Moves it. | Scoop.it

"Investment arm of Russia’s second largest bank – VTB Capital – will start issuing bonds tied to gold price. The new instrument enters Russia just when global downturn makes gold increasingly attractive.

 

"The new so–called ‘gold bonds’ provide for 3 fixed coupons – 0.1% each – with the yield to maturity depending on the gold price dynamics, Vedomosti daily reports. The Gold price on November 26 – the day when the placement is set to kick off – will be taken as the base to calculate gold growth. Overall, the new bonds can create up to annualized 21.3% yield for investors.


"Such “an unusual instrument will be popular among the players who seek for less risky financial instruments in times of world economic instability,” Ekaterina Kondrashova of Investcafe says. ..."

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oftwominds-Charles Hugh Smith: Start Your Own Financial Media Channel with This Template

oftwominds-Charles Hugh Smith: Start Your Own Financial Media Channel with This Template | Gold and What Moves it. | Scoop.it

Hilarity from Charles Hugh Smith:

 

"This secret template enables everyone to launch their own financial "news" channel.

 

"You've probably noticed the cookie-cutter format of most financial media "news":a few key "buzz words" (fiscal cliff, Bush tax cuts, etc.) are inserted into conventional contexts, and this is passed off as either "reporting" or "commentary" depending on the number of pundits sourced. ..."

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Batch Gold buying to lift China demand in fourth quarter

Shanghai Gold and Jewelry Trade Association said they expect a surge in jewelry demand during the rest of this year and start of next, as the Christmas and New Year holidays approach.

 

BEIJING(BullionStreet): "A day after a World Gold Council report said China's gold demand dropped 8 percent in the third quarter, experts are hopeful of a recovery in the fourth quarter.

 

"According to Albert Cheng, WGC managing director in charge of the Far East region, Chinese demand will recover in the fourth quarter, as the new leadership in the country is expected to roll out stimulus measures, and as the holiday gift-giving seasons approach.

 

"He said despite the dip, consumer demand as a whole stayed 23 percent above the five-year quarterly average, confirming the long-term strength of the world's second-biggest gold market.

 

"Shanghai Gold and Jewelry Trade Association said they expect a surge in jewelry demand during the rest of this year and start of next, as the Christmas and New Year holidays approach.

 

"Association sees changes in Chinese buying habits, as consumers tend to buy gold jewelry in batches, as an investment. Investment managers said they had seen more demand for gold bars and commemorative coins, than for gold-backed exchange-traded products. ..."

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Germany may repatriate 10% of Gold stored in the US

For decades around half of the German government's gold reserves worth some $80 billion has been stored in a vault deep below the US Federal Reserve building.

 

BERLIN(BullionStreet): "German politicians are applying more pressure on authorities to repatriate country's huge gold reserves stored in the US.

 

"They demanded that the Bundesbank is required to count and weigh the gold it holds every year but those kept in the US have not been weighed or counted once in three decades.

 

"They added that the present scenario of financial crisis, Germans feel anxious about their national wealth and want to be sure they can count on their gold.

 

"The euro crisis forms the background to what is a slight paranoia in Germany right now, analysts said ..."

 

Just 10%? why not all?

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Soros raises gold ETF holdings by half, nearly triples Freeport stake

Soros raises gold ETF holdings by half, nearly triples Freeport stake | Gold and What Moves it. | Scoop.it

While the Soros and Paulson funds remain bullish on gold, major gold ETF shareholder Windhaven dropped its SPDR Gold holdings during the third quarter.

 

by Dorothy Kosich:

 

RENO (MINEWEB) -

 

"Billionaire fund manager George Soros increased his stake by half in the SPDR Gold Trust while fellow billionaire fund manager John Paul maintained his holding in the world’s largest gold bullion-backed ETF.

 

"However, Paulson reduced his position in Gold Fields, while Soros Fund Management nearly tripled its position in Freeport-McMoRan Copper & Gold, SEC filings showed Thursday.

 

"During the third quarter, Soros Fund Management raised its interest in SPDR Gold shares from 884,400 shares in the second quarter to ..."

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Embry - $67 Trillion Shadow Banking System & $10,000 Gold

Embry - $67 Trillion Shadow Banking System & $10,000 Gold | Gold and What Moves it. | Scoop.it

Today John Embry spoke with King World News about the the $67 trillion shadow banking system, $10,000 gold, and how this will all end. Here is what Embry, who is chief investment strategist at Sprott Asset Management, had to say: “I’m a big admirer of Keith Barron because I was big player in his company, Aurelian. I think he’s a very smart guy and he understands the business extremely well. I agree with him that gold production is headed for a big decline going forward.

 

“You have to remember that until the 1980s, virtually all of the mining in the world was underground mining, and the grades were a lot higher than they are now. This is because a lot of the gold that was easy to mine has already been mined and we are having to go deeper and deeper.

 

"Then we had heap leaching which was the revolution in the 1980s. So consequently, a lot of these close to the surface, very low-grade ore bodies were able to be exploited by heap leaching. This led to a very large increase in the amount of production. ..." click over for the rest.

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Senate bill rewrite lets feds read your e-mail without warrants

Senate bill rewrite lets feds read your e-mail without warrants | Gold and What Moves it. | Scoop.it
Proposed law scheduled for a vote next week originally increased Americans' e-mail privacy. Then law enforcement complained. Now it increases government access to e-mail and other digital files. Read this article by Declan McCullagh on CNET News.

 

We're doomed if we have a government pressing to do this kind of thing.

 

hat tip to www.jsmineset.com

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Aussie, Canada dollars termed reserve currencies Marsh on Monday

Aussie, Canada dollars termed reserve currencies Marsh on Monday | Gold and What Moves it. | Scoop.it
By David Marsh, MarketWatch
LONDON (MarketWatch) — The Australian and Canadian dollars, the world’s leading commodity-rich currencies, are being formally classified as official reserve assets by the International Monetary Fund, marking the onset of a multi-currency reserve system and a new era in world money.

 

"In a seemingly innocuous yet highly portentous move, the IMF is asking member countries from next year to include the Australian AUDUSD -0.27% and Canadian dollars USDCAD +0.12% in statistics supplied by reserve-holding nations on the make-up of their central banks’ foreign exchange reserves. The technical-sounding measure, reflecting growing diversification of the world’s $10.5 trillion of reserves, is likely over time to exert wide-ranging impact on world bond and equity markets. ..."

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Don Coxe - Investors Don’t Understand The Risk In The System

Don Coxe - Investors Don’t Understand The Risk In The System | Gold and What Moves it. | Scoop.it

Today 40-year veteran Don Coxe spoke with King World News about what is happening in the markets. Here is what Coxe, who is Global Strategy Advisor to BMO ($538 billion in assets), had to say: “Well, what’s happening right now is the that stock prices are falling (since October 19th) because it turned out that one of the things the pollsters never asked people was, are you a serious investor? Who were you supporting, Romney or Obama? What we now know is that there were more serious investors supporting Romney, and they are pretty upset. So they are selling stocks.

 

“You say, ‘Well why aren’t they buying gold?’ What they are doing, first of all, is getting their portfolios in line, and they are going to cash first. They realize that the so-called fiscal cliff is simply the first face of reality for the administration. But they are not going to come up with anything for it that gets the deficit down below 3/4 of a trillion dollars per year.

 

"Nobody is suggesting that. They are saying they can’t afford to do that. ..."

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Leeb: Investors Must Know This Lesson From The 70s Gold Bull

Leeb: Investors Must Know This Lesson From The 70s Gold Bull | Gold and What Moves it. | Scoop.it

Stephen Leeb tells King World News:

 

"... This all leads back to gold as being the number one currency of choice. No one in the mainstream really acknowledges the bull market in gold. What better evidence is there for a continued move higher in gold? What you hear from the mainstream media is that it’s too late for gold.

 

"In this type of environment gold will continue moving higher and higher, until it just breaks out in a major way. This dull trading range that gold has been in for more than a year has been just great for people accumulating gold. The old adage is, ‘Never sell a dull market short.’ I would say, especially don’t sell a dull bull market short.

 

"Investors should also be taking advantage of some of these junior gold stocks. The lessons from the late 1970s are that these are the kinds of stocks which can fool people. They can trade dull for quite a long time and even drift lower. But in the 1970s, all of the sudden they just took off. ..."

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SPAIN: RESIDENCY FOR FOREIGNERS WHO BUY HOUSES

SPAIN: RESIDENCY FOR FOREIGNERS WHO BUY HOUSES | Gold and What Moves it. | Scoop.it

MADRID (AP) -- Looking for a new place to call home? Spain is hoping to give you a little bit more than a welcome basket of baked goods if you decide to move there. In an attempt to reduce the country's bloated stock of unsold homes, the government is set to offer permanent residency to any foreigner provided they buy a house or apartment worth more than (EURO)160,000 ($200,000).

 

The plan, unveiled by Trade Ministry secretary Jaime Garcia-Legaz Monday and expected to be approved in the coming weeks, would be aimed principally at Chinese and Russian buyers. Spain has more than 700,000 unsold houses following the collapse of its real estate market in 2008 and demand from the recession-hit domestic market is stagnant. ...

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Biderman's Daily Edge: A Simple Government Fix - Eliminate States & Almost All Federal Agencies

Biderman's Daily Edge: A Simple Government Fix - Eliminate States & Almost All Federal Agencies | Gold and What Moves it. | Scoop.it

Video: TrimTabs' Charles Biderman discusses how he would change government in order to create a system that's more effective and efficient.

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Gold dumped as debt worries mount | MINING.com

Gold dumped as debt worries mount | MINING.com | Gold and What Moves it. | Scoop.it

by Michael Allan McCrae:

 

"Gold is flirting with the $1,690 level as investors clamour for cash worried about the fiscal cliff, about the euro and about trouble in Israel.

 

"Gold is being seen increasingly as a source of cash," said the head of precious metals at bullion bank Scotia Mocatta, Simon Weeks, in a post on Market Oracle.

 

"Liquidation of gold can cover losses elsewhere. ..."

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The Worst Economic Numbers In More Than A Year

"With everything else that is going on in the world, a lot of people have failed to notice that we are seeing some of the worst economic numbers that we have seen in more than a year. For example, it was announced on Thursday that initial claims for unemployment benefits have hit their highest level in a year and a half. Hopefully this is just a temporary blip in the data, because initial unemployment claims tend to have a very strong correlation with the overall performance of the economy. We also continue to see poverty statistics rise. According to government statistics released earlier this month, the number of Americans living in poverty and the number of Americans on food stamps are both at all-time record highs. Meanwhile, the Dow and the S&P 500 are both down more than 5 percent since the election and the U.S. government rolled up 22 billion dollars more debt in October 2012 than it did in October 2011. The unfortunate truth is that things are not getting better. The U.S. economy continues to become weaker and more unstable, and there are a whole lot of reasons to be very pessimistic about our economic situation as we move into the winter months. ..."

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Jesse's Café Américain: CME Loosens Margin Requirements On Gold and Silver and other Contracts

Jesse's Café Américain: CME Loosens Margin Requirements On Gold and Silver and other Contracts | Gold and What Moves it. | Scoop.it

"The CME has reduced margin requirements on quite a few of their traded instruments.

 

"In the case of gold and silver futures contracts, the reductions seem designed to bring the margins paid by specs more in line with those required of 'the professionals.' ..."

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Ben Davies - There Is A New Buyer Entering The Gold Market

Ben Davies - There Is A New Buyer Entering The Gold Market | Gold and What Moves it. | Scoop.it

Ben Davies tells King World News:

 

"... And if they (Japan) do it themselves, and if they do it badly, ironically, having not had inflation for such a long time, they could actually cause it (inflation) to ratchet up demonstrably. And, yes, there is a non-negligible risk of hyperinflation.

 

"Now within that prism, clearly hard assets remain a very important part of one’s portfolio. I suspect that Japanese pension funds, insurance companies, banks, although they have to buy government bonds as almost a public edict because they can’t place the bonds, but talking to managers, there are switches going into the precious metals market. They are definitely buying up gold. Pension funds are doing that (buying gold). So there will be allocation shifts there. ..."

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India still the world`s biggest gold market

India still the world`s biggest gold market | Gold and What Moves it. | Scoop.it

India has shot to the top spot again as the world's biggest gold market in Q3, as demand jumped 9%, while demand in China toppled 8%.

 

 

by Shivom Seth

 

MUMBAI (MINEWEB) -

 

"India has toppled China to emerge as the largest gold consumer in the third quarter of 2012. Though global gold demand fell in the Q3 with investors buying fewer bars and coins, India’s gold demand revived in the June-September quarter 2012.

 

"According to data compiled by the World Gold Council (WGC), gold demand totalled 223.1 tonnes, up 9% year on year from 204.8 tonnes in the third quarter of 2011. Demand from China actually slipped in the same quarter. China recorded an 8% drop in demand at 177 tonnes (191 tonnes) due to the economic slow down in the country. Jewellery demand was down 5% at 124 tonnes as retailers reduced their inventory. ..."

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