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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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We Are Witnessing The Largest Financial Bubble In History

We Are Witnessing The Largest Financial Bubble In History | Gold and What Moves it. | Scoop.it

Robert Fitzwilson told King World News:

 

"The biggest bubble in human history is in sovereign debt, the obligations of governments around the world. The classic signs of a bubble are present. Despite the fact that virtually all governments are insolvent (the Reality), there exists an almost universal belief that sovereign debt is safe (the Perception). There is a massive gap between reality and perception.

 

"What we hear is that gold, silver and oil are in bubble mania. Nothing could be further from the truth. The perception is so far below the reality that we effectively have a negative bubble. Buyers of these three assets are speculating fools according to the mainstream media. The only thing that is foolish is not holding onto positions and not adding as nominal prices periodically come down..."

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Jesse's Café Américain: Bart Chilton of the CFTC Discusses Position Limits

Jesse's Café Américain: Bart Chilton of the CFTC Discusses Position Limits | Gold and What Moves it. | Scoop.it

"'Speculators' might be confused with 'investors' if you come from the land of the privileged hedge and vulture funds.

 

"Speculators look for market inefficiencies and exploit them, thereby contributing to price discovery in a healthy market. Investors take longer term positions and tend to be involved in fundamental production and distribution of goods and services.

 

"The problem comes when speculation becomes too large and over-leveraged, and runs out of natural market inefficiences, and starts to create its own market opportunities by cornering markets, naked short selling, and other forms of price manipulation.

 

"The hot money tends to drive the investment money out of the market and price discovery fails. The distortions caused by malinvestment over periods of time can have significant effects on the real economy.

 

"The Street knows this, and so do the economists and politicians and spokesmodels. They just pretend not to notice because the money is too good to stop, and the painful consequences too remote to care..." {Click through for the video}

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Major Gold And Silver Price Suppression Now A Weekly Occurrence. So What?

Major Gold And Silver Price Suppression Now A Weekly Occurrence. So What? | Gold and What Moves it. | Scoop.it

by Patrick A. Heller:

 

"Over the past four weeks, the prices of gold and silver have experienced a major decline once each week. Last week, the suppression occurred on Friday, April 13 during the last 15 minutes of COMEX trading, between 1:15 and 1:30.

 

"How is it possible to identify this event as a manipulation rather than just the actions of a free market? Unfortunately, that is becoming quite easy to detect. Significant price moves resulting from market developments rarely occur in a vacuum. If investors were worried about falling demand for commodities, you would see price declines in a number of industrial metals as well as precious metals. If investors perceive a greater likelihood of another round of quantitative easing, the value of the dollar would tend to drop as US stock markets rise with gold and silver prices.

 

"Last Friday, there was no particular news that should have led to a major impact on gold and silver prices. There were no sympathetic moves in other markets in conjunction with the decline in the value of precious metals. So, what did happen?..." {click thru for the rest}

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TWO FACES OF SILVER & GOLD | The Prospector Blog

TWO FACES OF SILVER & GOLD | The Prospector Blog | Gold and What Moves it. | Scoop.it

from the Prospector:

 

"You know who you are, to be honest; I know who you are too. Well, I have it nailed down to one of two choices. There are only two faces of PM (precious metals), owners that is, and each one motivated to own silver and gold for opposite reasons. One side is more vocal, aggressive, and independent if you will. The remaining side is calculated, confident, even consuming. The one thing both sides have in common is the desire to amass as much silver and gold as possible. My view, I think both sides are very wise in the last regard...."

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oftwominds-Charles Hugh Smith: Crony Capitalism and the Expansive Central State

oftwominds-Charles Hugh Smith: Crony Capitalism and the Expansive Central State | Gold and What Moves it. | Scoop.it

"Crony Capitalism flourishes in an economy dominated and controlled by a Central State.

 

"Crony capitalism arises when an expansive Central State dominates the economy.The Central State can then protect crony-capitalist perquisites, cartels, quasi-monopolies and financialization skimming operations of the sort which now dominate the U.S. economy's primary profit centers.

 

"If we step back, the larger context is the purpose and role of establishing a State to protect its citizens from foreign and domestic predation and exploition..."

 

{click over to read the rest from Charles Hugh Smith. And you might want to consider getting his newest book. Resistance Revolution Liberation: A Model for Positive Change: http://amzn.to/IMbURP }

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Gold and Silver Manipulation and How They Do It | Marshall Swing | Safehaven.com

Gold and Silver Manipulation and How They Do It | Marshall Swing | Safehaven.com | Gold and What Moves it. | Scoop.it

by Marshall Swing.

 

"...Classic gold and silver manipulation begins with speculator long accumulation over an undecided length of time. In the case of this example, gold, the accumulation of speculator longs began early Monday morning until around 5AM Tuesday. Price rose from $1642 to $1647. Near the end of the speculator long accumulation, The commercials begin purchasing (selling) short positions.

 

"Next, what is pegged as commercial high frequency trading (HFT) and day trader selloffs. These players are always focused on short term positions so they buy and sell rapidly trying to make small profits and price can change dramatically. In this case the commercials take the price down and trip the stops of the speculator longs so they are out of the money or even lose money depending on where they bought on the way up..."

 

Check it out the rest. Good explanation.

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SF Fed: This Time It Really Is Different | ZeroHedge

SF Fed: This Time It Really Is Different | ZeroHedge | Gold and What Moves it. | Scoop.it
It appears that after months of abuse for their water-is-wet economic insights, the San Francisco Fed may have stumbled on to the cold harsh reality that this post-great-recession world finds itself in.

 

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As long as MSM and MOPE control the focus of your attention, and they do, you cannot see this. « Jim Sinclair's Mineset

As long as MSM and MOPE control the focus of your attention, and they do, you cannot see this. « Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

Jim Sinclair’s Commentary

 

"As long as MSM and MOPE control the focus of your attention, and they do, you cannot see this.

It is as if the problems of the USA and Great Britain were relatively invisible. Therefore who attacks the euro daily? The answer is those that control MSM and MOPE.

 

"The predictable result is that the euro will move toward Russia, China and India for commercial defense against the USA and GB. This is currency war at its best. It is long term world class dumb for the perpetrators.

 

"The resolution of this war is the key element in today structuring of tomorrow, yet who understands it?

 

"More U.S. cities set to enter default danger zone

 

By Michael Connor
April 17 | Tue Apr 17, 2012 4:43pm EDT

"(Reuters) – America’s swelling ranks of fallen municipal borrowers have been blamed in the past year on ‘what-were-they-thinking’ causes, be it a Taj Mahal sewer system in Alabama or an overpriced trash incinerator in Pennsylvania’s capital city of Harrisburg.

 

"But the next series of major cities and counties in danger of defaulting on their debt can hardly point to one single decision for their malaise. Whether it be Detroit, Miami or Providence, Rhode Island, their problems have a lot more to do with financial policies that put them on course to live well beyond their means.

 

"Municipal defaults have shot up since 2007 and are on pace for another high year in 2012, according to Richard Lehmann, publisher of the Distressed Securities Newsletter...."

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Conservatively positive for gold in 2012 - Murenbeeld

Conservatively positive for gold in 2012 - Murenbeeld | Gold and What Moves it. | Scoop.it

"For the current year, although remaining bullish on gold - but conservatively so - he [Economist Dr Martin Murenbeeld of Canada's Dundee Wealth Management] cited 10 reasons why he feels gold will continue its upwards path, albeit perhaps at a slower rate during the current year given that a bit of momentum seems to have fallen out of the market. In truth, the 10 reasons are mostly those expressed by many others in these pages over the year and basically boil down to the undoubted fact that global financial difficulties remain with us and ultimately will impact the gold market in a positive manner. His ten key points are: Monetary reflation; Global imbalances, Excessive Forex reserves; Central Banks buying, not selling; Gold not being in anywhere near bubble territory yet; Mine supply only rising marginally; Continuing investment demand; Commodity cycle having years to run; Current geopolitical environment; Inflation in emerging markets..."

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Gerald Celente interview on King World News

Gerald Celente interview on King World News | Gold and What Moves it. | Scoop.it

This is a great interview of Gerald Celente on King World News. A must listen too, in my opinion.

 

Details bubbles and recovery. But it's the beginning of the interview is what is important.

 

hat tip to http://twitter.com/MonetaAdvisors  http://twitter.com/alexdgn  on twitter.

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Dennis Gartman – Love Him or Hate Him? – by Peter Grandich

Peter Grandich on gold and silver:

 

"Quick note on gold and silver – The hate gold mongering continues as an onslaught of bearish forecasts and media articles continue unabated. But somehow gold holds key support around $1,635 and silver actually wants to go considerable higher. As noted previously, it’s best to wait until gold has two consecutive closes above $1,700 before going from defense to offense and worse case scenario is to hold some buying power if we breakdown and head to ultimate support in the $1,550 area. But please don’t hold your breadth waiting for such an occurrence."

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oftwominds-Charles Hugh Smith: When Does This Travesty of a Mockery of a Sham Finally End?

oftwominds-Charles Hugh Smith: When Does This Travesty of a Mockery of a Sham Finally End? | Gold and What Moves it. | Scoop.it

Charles Hugh Smith:

 

"Intersecting global crises cannot be papered over with artifice and propaganda for long.

 

"We all know the Status Quo's response to the global financial meltdown of 2008 has been a travesty of a mockery of a sham--smoke and mirrors, flimsy facades of "recovery," simulacrum "reforms," and serial can-kicking, all based on borrowing and printing trillions of dollars, yen, euros and yuan, quatloos, etc.

 

"So when will the travesty of a mockery of a sham finally come to an end? Probably around 2021-22, with a few global crises and "saves" along the way to break up the monotony of devolution..." click over for the rest of the charts and post.

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Twitter / NightBlogger: IMF inches toward deal on ...

IMF inches toward deal on yet another taxpayer funded EU bank bank bailout http://t.co/Xt2AZJAj
Apr 17 via Tweet Button Favorite Retweet Reply

IMF inches toward deal on yet another taxpayer funded EU bank bank bailout http://t.co/Xt2AZJAj...
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IMF sees banks deleveraging by $2.6tn - FT.com

IMF sees banks deleveraging by $2.6tn - FT.com | Gold and What Moves it. | Scoop.it
A drastic contraction of European bank balance sheets during the next 18 months could jeopardise financial stability and economic growth in Europe and beyond, according to forecasts from the International Monetary Fund.

 

"In its Global Financial Stability Report, published on Wednesday, the fund warned that European banks looked set to shrink their balance sheets by $2.6tn (€2tn) over that period. Unless officials improved their policy response, the IMF said, European banks would dump almost 7 per cent of their assets by the end of next year."

 

{Gee, I wonder who will pay for that?}

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Spectacular solar eruption caught by Nasa cameras

Spectacular solar eruption caught by Nasa cameras | Gold and What Moves it. | Scoop.it

The explosion, captured by Nasa's Solar Dynamics Observatory at about 5.45pm yesterday evening, was one of the most beautiful seen in years. {Got to say, it's beautiful.}

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Eric De Groot: The Change Face of Infinite QE

Eric De Groot: "Additional funds to the IMF represent the change face of QE to infinity. The flow of money through the IMF and Fed behind the scenes supports thesis that's it's not a matter of if, but when Spain will be bailed out...."

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Gold In Seventh Month Of Correction—What Can History Tell Us?

Gold In Seventh Month Of Correction—What Can History Tell Us? | Gold and What Moves it. | Scoop.it

By Kira McCaffrey Brecht

 

"June Comex gold futures are currently mired in their seventh month of sideways correction/consolidation to the longer-term secular bull trend which has driven the yellow metal higher over the last ten years.

 

"MONTHLY VIEW

 

"Let's take a close look at the monthly chart to see what it tells us. Since hitting a new all-time high at $1,911 per ounce (basis the nearby continuation contract) on the monthly chart, Comex gold has tumbled $386 to the December 2011 low at $1,525 per ounce. Since that the market has moved sideways within that large $386 range—over a seven month period.

 

"SIMILAR CORRECTION IN 2008

 

"In recent years on the monthly chart, the rally has been fairly orderly without pro-longed market corrections. However, there is a similar type of correction from March 2008 through October 2008. See Figure 1 below. That correction saw the yellow metal fall from $1,014 to $681— a decline of $333 per ounce. That correction took seven months before the bulls reasserted control of the market.

 

"WHAT CAN WE LEARN..."

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30 year / 2 year yield curve forecasting deflation event directly ahead? | The Daily Gold

30 year / 2 year yield curve forecasting deflation event directly ahead? | The Daily Gold | Gold and What Moves it. | Scoop.it

by Gary Tanashian "The 30 year / 2 year Treasury yield curve has been on a steady march higher since 2007. This makes sense since that was the year things started falling apart in inflated, debt saturated developed global economies, led by the nation that showed ‘em how it’s done when it comes to economic management by inflation; the US.

 

"When long term yields are rising faster than short term yields, it is a sign of stress building toward either a breakout in inflation expectations or, as has been the case thus far since 2007 (and really, since the age of Inflation onDemand began in 2001), impending reversal of the excesses. Unfortunately, in an age where economies are managed by inflation (by monetization of Treasury/Sovereign debt in service to increasing money supplies) these reversals tend to be shall we say, violent..."

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Bonds: The Most Important Asset Class

Bonds are without a doubt the most important asset class to grasp in this particular crisis.

 

"Debt-to-GDP Ratio

 

"An important thing to understand is that whenever we had high annual deficits, we had a relatively low debt-to-GDP ratio. And when we had a high debt-to-GDP ratio, we had relatively low deficits. Well now we have high annual deficits and a high debt-to-GDP ratio. So economic pundits who claim that our debt-to-GDP ratio has been this high before so there is nothing to worry about are only telling you half the story. Either they are flat-out lying or they don’t know what the hell they’re talking about. I personally tend to favor the latter.

 

"It’s funny because 99.99% of countries in recorded human history have defaulted on their debt. The only thing to consider is when we will default. Gold right now is a clear buy, I don’t care if it falls to $1300 from here- there is just too much risk of Europe falling apart for you to sit on your hands. I’m warning you to get your money out of banks and into tangible assets. If and when the banking system freezes, it will happen suddenly."

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MF Global Circus: A New Senate Hearing & CFTC Divulges Exclusive Emails Re Corzine/Gensler Meetings | ZeroHedge

MF Global Circus: A New Senate Hearing & CFTC Divulges Exclusive Emails Re Corzine/Gensler Meetings | ZeroHedge | Gold and What Moves it. | Scoop.it
Submitted by EconomicPolicyJournal.com

 

"A new Senate hearing during "Money Smart Week"

 

"The MF Global circus continues, as only yesterday, the Senate Banking Committee announced it will hold a hearing next Tuesday, April 24, 2012, in which a few old and a few new faces will grace Congressional Chambers. We can only hope that some of the Committee members will pursue the panelists with the same zeal that certain members of the House Financial Services Oversight & Investigations Subcommittee did in their three hearings.

 

"According to a press release that arrived in our email box this morning, next week is Money Smart Week at the Chicago Fed. The awkward phrasing sure sounds smart. The National Futures Association, the CFTC and AARP will hold a seminar entitled "Avoiding Fraud is Your Best Money Strategy." No kidding. Tell that to Mr. Corzine and the MF Global customers. The always pithy CFTC Chairman Gensler had a few choice words as well: "When making important financial decisions, even simple actions like asking a few smart questions can help set people on the right course." Right...and where were your smart questions, Mr. Gensler, when you let the SEC steamroll the CFTC into accepting a bankruptcy and liquidation structure of MF Global and its broker unit such that the customers ended up on equal footing with creditors?

 

"Maybe the SEC's Director of the Division of Trading and Markets, Mr. Robert Cook, can shed some light at next week's Senate Banking Committee hearing on why he ordered a firm with 388 securities accounts and 38,000 futures accounts to be put into a SIPC liquidation, where there is no insurance fund for futures customers and where the liquidation Trustee has no clear right to assets in the parent company's Chapter 11 estate.

 

"And, if Mr. Gensler truly believes that the "CFTC exists to protect Americans in financial markets and to ensure the integrity of..."

 

{The MF Global farce continues}

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Von Greyerz - Bank Failures, Disorder, Massive Panic & Gold

Von Greyerz - Bank Failures, Disorder, Massive Panic & Gold | Gold and What Moves it. | Scoop.it

Today Egon von Greyerz told King World News that dominos are falling daily and we should expect to see more chaos in the banking system, including failures. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said we are edging closer to panic and he expects this will accelerate the flow of funds into gold. Here is what Greyerz had to say about the situation: “Eric, I don’t know if you read the book by John Galbraith, ‘The Great Crash 1929?’ He wrote about how every day there was a bad piece of news, and in the end, everybody gets immune to it. I think that’s exactly what we are seeing now.”

 

“There is so much bad news every single day that people are not reacting to it. What will happen is all of this pent-up risk is going to erupt one day. I’m seeing the dominos falling here, daily.

 

"We talked about Spain last time. Spain has now borrowed $415 billion from the ECB, and that’s about 63% of the total ECB lending. Bad debts in the Spanish banks are going up at record levels. Bad debts over the last 3 months are now 8% of total debt. That’s massive...."

 

{I have to agree with him about the bad news. We are getting immune to it. And it really bothers me. That apathy is infecting culture and politics and historically it doesn't end well.}

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Details Of The $291 Trillion In Derivatives To Which American Taxpayers Are Exposed - Seeking Alpha

Details Of The $291 Trillion In Derivatives To Which American Taxpayers Are Exposed - Seeking Alpha | Gold and What Moves it. | Scoop.it

This article from Avery Goodman is lengthy but looks to be something we should be sharing.

 

Here's a snippet. I'm saving it for further chewing on later:

 

"In reality, it is impossible to know the true risk of $291 trillion in New York issued derivatives (ignoring the additional $417 trillion issued out of London). A sudden very large increase in interest rates, alone, could trigger trillions of dollars in payments. One could argue that the Federal Reserve could force interest rates down at any time, but that is not entirely true.

 

"If the US dollar came under heavy selling pressure, for an extended period of time, as has happened to the British pound, Chinese yuan, Japanese yen, German mark, Austrian shilling, Argentine peso, and a host of other currencies in the course of history, the Fed would be able to defend the dollar only at the risk of inducing widespread systemic failure.

 

"That is why interest rates cannot rise for many years, regardless of whether that destroys its status as the world's reserve currency, and/or creates extreme levels of inflation or hyperinflation. It is also one more reason for the government to lie about the true inflation rate, to avoid pressure to raise interest rates..."

 

hat tip to Jim Sinclair http://www.jsmineset.com 

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Rick Rule - I’m Too Old To Wish For Chaos, But It’s Coming

Rick Rule - I’m Too Old To Wish For Chaos, But It’s Coming | Gold and What Moves it. | Scoop.it

Rick Rule tells King World News:

 

“I’m too old to wish for chaos, but it’s coming. I think the market’s response to situations that make otherwise rational people seem nervous, is fairly amusing. What we are seeing right now is the rising tide of liquidity floating most ships, particularly the conventional ships.

 

"The gold market, as an example, has had every excuse in the world to selloff, but it has remained resilient. I think that’s fairly interesting. On the one hand you have a reasonable amount of complacency. In other words, the fear trade that drives people to gold hasn’t been happening as a consequence of the rebound in equity markets.

 

"We have also had extremely strong bond markets, which is a direct result of the liquidity...."

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The Implications Of A Failed Monetary System | ZeroHedge

Santiago Capital has put together a concise and highly informative 10 minutes video, which explains in the amount of time that a traditional economics professor takes to prepare their coffee, virtually everything that is at risk, and fundamentally...
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The Big Rally in Gold is Getting Closer and Closer | The Daily Gold

The Big Rally in Gold is Getting Closer and Closer | The Daily Gold | Gold and What Moves it. | Scoop.it

"The Hindu festival of Akshaya Tritivai is coming up this month and this is of interest for gold investors. The holiday, which falls on April 24th, is a day when Indians go on a major gold buying binge. It is one of the most auspicious occasions to buy gold, the ultimate symbol of wealth and prosperity. The timing couldn’t be better for the ending last week of the 20-day strike by India’s jewelers and gold importers who protested new government taxes on bullion. Moreover, the wedding season has already started in some parts of India and gold is an integral part of most Indian weddings. It is expected that in April and May imports will be around a 100 metric tons to India, the world’s largest consumer of gold. The nationwide strike is estimated to have cost the industry at least $3.91 billion.

 

"According to an annual report released Wednesday by metals consultancy GFMS, gold’s speculative investors may have been shaken by gold’s volatile ride last year, but the physical market—particularly in China—remained faithful to bullion and the trend is expected to continue in 2012..."

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