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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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oftwominds-Charles Hugh Smith: "Big Idea Solution": Radically Lower the Cost Basis of the Entire Economy

oftwominds-Charles Hugh Smith: "Big Idea Solution": Radically Lower the Cost Basis of the Entire Economy | Gold and What Moves it. | Scoop.it

by Charles Hugh Smith:

 

"Our choice is simple: either continue on the State-cartel path of complexity and rising costs that leads to a death spiral, or re-energize the forces of the market and community.

 

"We are constantly told all our problems are too complex to be addressed with simple "big idea" solutions. Complex problems require complex solutions, we are assured, and so the "solutions" conjured by the Central State/Cartel Status Quo are so convoluted and complex (for example, the 2,319-page Dodd-Frank Wall Street Reform and Consumer Protection Act or the 2,074-page Obamacare bill) that legislators say they must "pass the bill to see what's in it." (What If We're Beyond Mere Policy Tweaks? February 6, 2012)

 

"The real "solution" is to see that complexity itself is the roadblock to radical reformation of failed systems. Complexity is the subterfuge the Status Quo uses to erect simulacra "reforms" while further consolidating their power behind the artificial moat of complexity..."

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Anger over Christine Lagarde's tax-free salary

Anger over Christine Lagarde's tax-free salary | Gold and What Moves it. | Scoop.it

"It was called her "Let them eat cake" moment. Now Greece will be saying: "Make her pay tax".

 

"The IMF chief Christine Lagarde was accused of hypocrisy yesterday after it emerged that she pays no income tax – just days after blaming the Greeks for causing their financial peril by dodging their own bills..."

 

[LOL The world is doomed.]

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Patience is a Smart Strategy with Gold and Silver

Patience is a Smart Strategy with Gold and Silver | Gold and What Moves it. | Scoop.it
What happens when the Federal Reserve is forced to step in and apply more band-aids...

 

By Eric McWhinnie

 

"...Looking in the rear-view mirror, patience has clearly been a smart strategy for investing in precious metals. Gold and silver both skyrocketed off their lows made in 2008 as central banks turned to money printing as a band-aid for a bullet wound. The dollar is currently experiencing strength, but what happens when the Federal Reserve is forced to step in and apply more band-aids, as it did with QE1, QE2, Operation Twist and European swap lines?

 

"While some may expect bullion demand to be significantly lower from falling gold prices, demand for gold as an insurance policy on fiat currencies remains high. For the first-quarter, gold investment demand jumped 13 percent to 389.3 tonnes, compared to 343.5 tonnes a year earlier. Earlier this month, Russia’s central bank also announced it will keep buying gold in order to diversify foreign exchange reserves. Even though precious metals can be volatile at times, it is better to have your insurance a year early than a day late..."

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US Pending Home Sales Fall 5.5% In April, Weakest Result In A Year: NAR

US Pending Home Sales Fall 5.5% In April, Weakest Result In A Year: NAR | Gold and What Moves it. | Scoop.it
U.S. pending home sales fell 5.5 percent in April compared to the prior month, the National Association of Realtors said Wednesday, marking the weakest result in a year and raising more uncertainty surrounding the housing recovery.
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Embry - People Will Be Shocked at the Chaos Heading Our Way

Embry - People Will Be Shocked at the Chaos Heading Our Way | Gold and What Moves it. | Scoop.it

Today John Embry told King World News, “This situation is unprecedented. The world has never, ever been in a condition like this.” Embry, who is Chief Investment Strategist of the $10 billion strong Sprott Asset Management, also told KWN, “anyone that is complacent will be shocked at the chaos that is heading our way.” Here is what Embry had to say about the situation: “I think we’re in an extraordinary place. It’s becoming obvious that Europe is imploding, and the powers that be really don’t have any solutions. I’m very worried about China. Lawrence Summers recently said China may have a year in which it only grows 7% in the next decade...

 

"...But eventually all of these QE’s are going to manifest themselves in inflation, not booming economic activity. So, do I think QE is a long-term solution to anything? No. The only solution it’s going to create is ever-mounting inflation, which hopefully won’t end in hyperinflation.

 

"I would like to add that I was struck yesterday by the comments that Egon von Greyerz made on KWN, that the only thing that can keep this system afloat is monetary creation of historic proportions. When Egon started to talk about $100+ trillions of dollars being printed, I have a hard time thinking about trillions of dollars, let alone tens of trillions or hundreds of trillions of dollars.

 

"This situation is unprecedented. The world has never, ever been in a condition like this. As a result, anyone that is complacent here and says, ‘This is just business as usual,’ they are dead wrong and will be shocked at the chaos that is heading our way...”

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Bank Insolvency: Will Fed Printing Press Try to Save Europe? | Greg Hunter’s USAWatchdog

Bank Insolvency: Will Fed Printing Press Try to Save Europe? | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
By Greg Hunter’s USAWatchdog.com 

 

"You know things are heating up when the banks start with scare tactics. In Greece, the bankers are in full court press to sway voters for next month’s election. Reuters reported yesterday, “In a report released ahead of an election on June 17 that may determine whether the country stays in the single currency, the country’s biggest bank said the risk of Athens exiting the euro was no longer just a theoretical possibility, warning that the fallout from such a move would be dramatic. ‘An exit from the euro would lead to a significant decline in the living standards of Greek citizens,’ the NBG wrote ahead of a vote which parties opposed to austerity measures that have kept Greece in the euro so far have a chance of winning.”..."

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The finest gold dust in the world

The finest gold dust in the world | Gold and What Moves it. | Scoop.it
The finest gold dust in the world...

 

(Nanowerk News) Most people value large chunks of gold – but scientists at the Vienna University of Technology are interested in gold at the smallest possible scale, because single gold atoms are potentially the most reactive catalysts for chemical reactions. However, when gold atoms are placed on a surface they tend to ball up into tiny nuggets consisting of several atoms. A team of surface scientists now managed to fix single gold atoms on special sites of an iron-oxide surface. This could open the door to more efficient catalysts, requiring less of the precious material (see paper in Physical Review Letters: "Ordered Array of Single Adatoms with Remarkable Thermal Stability: Au/Fe3O4(001)").

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US Dollar Strong, What to Expect From Gold & Global Equities

US Dollar Strong, What to Expect From Gold & Global Equities | Gold and What Moves it. | Scoop.it

Tom Fitzpatrick tells King World News:

 

"...The dynamic we are seeing right now, for want of a better phrase is, ‘the risk-off environment.’ Risk-off tends to mean not only do people get out of what they dislike, but they also get out of what they like because it is effectively a reduction in risk.

 

"So, in that initial phase, everything tends to get tarred with the same brush. We saw the same thing happen with gold in 2008, yet we now see where gold is priced today. So in the short-term there could be some choppiness and pressure, but our belief is that we are still forming a base in gold in this $1,500 to $1,600 area.

 

"This base will ultimately lead to a significant move higher..."

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Twitter / MonetaAdvisors: Dallas FED releases May Se

Dallas FED releases May Service Activity Index 5.3 vs Apr 12.0 - Another indicator that things just plain suck #FORWARD
May 30 via web Favorite Retweet Reply

Instantly connect to what's most important to you. Follow your friends, experts, favorite celebrities, and breaking news.
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France: Can Hollande Prevent Mass Layoffs?

France: Can Hollande Prevent Mass Layoffs? | Gold and What Moves it. | Scoop.it

by Daniel Tovrov:

 

"French labor unions warned Francois Hollande's government that corporations are planning massive layoffs -- a development which could test the new president's economic mettle and further exacerbate already high unemployment in the country.

 

"Meeting with union and business leaders on Tuesday, newly appointed Prime Minister Jean-Marc Ayrault was given a list of 46 companies -- ranging from automaker Peugeot Citron to home-goods superstore Conforama to steel mining company Arcelor Mittal to French banks reeling from the debt crisis -- that were planning on shutting down manufacturing operations and cutting up to 90,000 employees, according to Reuters.

 

"Hollande has promised that as president he will create tens of thousands of public sector jobs, but he has yet to come up with a plan for mediating between unions and the private sector..."

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Mr. Sam's comment, May 29, 2012 4:28 PM
He will asking Bail out !!!
Hal's comment, May 30, 2012 11:35 AM
LOL Yup. In fact, I'm sure that plea has already gone out through various channels.
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Bank of England readies plan for Euro collapse - Telegraph

Bank of England readies plan for Euro collapse - Telegraph | Gold and What Moves it. | Scoop.it
The Bank of England is poised to cut interest rates or launch another round of quantitative easing if the euro collapses, it has emerged.

 

by Robert Winnett:

 

"A senior official for the Bank said the measures would “again play [their] part in mitigating the impact” of Greece or other countries leaving the single currency.

 

"The comments come after the head of the IMF suggested last week that British interest rates may have to be cut to zero if the economic situation deteriorates.

 

"The Bank has already completed a quantitative easing programme, effectively printing more money, worth £325 billion and this may be extended again.

 

"David Cameron hosted a meeting with Sir Mervyn King, Governor of the Bank; Lord Turner, the chairman of the Financial Services Authority; and the Chancellor, to discuss contingency plans to deal with the collapse of the euro..."

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Germany Has A Generous Proposal To The Broke PIIGS: "Cash For Gold" | ZeroHedge

Germany Has A Generous Proposal To The Broke PIIGS: "Cash For Gold" | ZeroHedge | Gold and What Moves it. | Scoop.it
Back in February, as part of the latest Greek bailout of European banks, we noted that the most subversive part of the German-led proposal was nothing short of a gold confiscation scheme.the European bailout of Greece, is now formally a Greek...

 

by Tyler Durden:

 

"...Today, courtesy of The Telegraph, we learn that Germany is quietly reminding the world that the stealthy, but voluntary, accumulation of gold is what it is all about. As part of a renewed push for quasi-Federalism, whereby Germany would fund a "European Redemption Pact", in which Berlin would, in the form of Germany-backed joint bonds, be responsible for any sovereign debt over the 60% Maastrtich limit, but with a big catch. The catch is that "a key motive is to relieve the European Central Bank of its duties as chief fire-fighter. "We have got to get the ECB out of the game of distributing money, and separate fiscal and monetary policy. Germany has only two votes on the ECB Council and has no way to control consolidation," he said. Germany would have a lockhold over the fund, able to enforce discipline. Each state would have to pledge 20pc of their debt as collateral. "The assets could be taken from the country’s currency and gold reserves. The collateral nominated would only be used in the event that a country does not meet its payment obligations," said the proposal.

 

"In other words: a perfectly legitimate, and fully voluntary scheme in which sovereign gold is pledged to a German "pawn broker" until such time as the joint bonds are extinguished, and if for some "unpredictable" reason, a country fails to meet its obligations, read defaults, all the pledged gold goes to Germany!..."

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Warning: "The Great Bank Run Is Coming" - TrimTabs Money Blog | TrimTabs Money Blog

Warning: "The Great Bank Run Is Coming" - TrimTabs Money Blog | TrimTabs Money Blog | Gold and What Moves it. | Scoop.it
By Dan Dorfman Dorfman

 

"...The Bank For International Settlements estimates that U.S. banks have loaned $96.8 billion to the weakest Euro countries, along with an additional $275.8 billion to German and French banks.

 

"According to the Organization for Economic Cooperation and Development (OCED), the banking crisis will spread from Europe to the rest of the world, just like the U.S. credit crisis did a few years ago.

 

"Meanwhile, the European banking mess is already prompting mounting concern. The Institute of International Finance, for example, recently warned that Spanish banks alone now face total losses of up to $260 billion, while Moody’s has chopped its ratings on 16 Spanish banks. It also cut its ratings earlier this month on 26 Italian banks.

At the moment, no one of any stature is suggesting we pull our money out of U.S. banks, as was the case during the

 

"Great Depression of 1929-1933, and hide it under the mattress. Far from it. But given our rapidly mounting debt crisis with no meaningful Washington fix in sight, questions about the stability of some of the major U.S. banks and the inherent risks in our banks’ non-banking operations, such as seen in the recent multi-billion trading loss in derivatives suffered by JPMorgan, the financial sector understandably is becoming a matter of growing investor concern..."

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Ten Ways the US Is Worse Than It Was In 1947 | Jeff Berwick | Safehaven.com

Ten Ways the US Is Worse Than It Was In 1947 | Jeff Berwick | Safehaven.com | Gold and What Moves it. | Scoop.it
Gary North is an icon in the Austro-libertarian world, and writes more in a day than most will write in their lifetimes. The majority of what he says is excellent and it is well worth your time listening to whatever he has to say.

 

"It is our view that the modern USSA needs to be looked at in terms of its regression (not progress) since the Federal Reserve was put into place in 1913 and income tax was introduced. Less than two decades later and the US Government was already bankrupt. The only way it could salvage itself in 1933 was to confiscate much of the real wealth(gold coins and bullion) of its citizenry and devalue the dollar. This was bankruptcy #1.


"After World War II, two facts led to it's predominance in the global economy. The USSA was the only modern, industrial economy to survive intact and the establishment of the Bretton woods system that positioned the USD as the world reserve currency. This position was abused by the cynical political class and their wealth was squandered throughout the 1960s with the unnecessary war in Vietnam and the institution of the "Great Society" welfare state programs. By 1971, the US Government was again bankrupt.


"This time, on August 15, 1971, Richard Nixon reneged on the promise to exchange the US dollar for gold. The world went into shock. For a period of time the US dollar barely traded on international markets. In Germany, where they have experience with hyperinflation, US dollars were not accepted by any currency exchange shop for a number of weeks as people around the world threw up their arms in anger. But... what could they do? Nothing. And what were the viable alternatives at the time? There were none... so, after a few weeks, people just continued to use the now pure fiat dollars..."

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Auto Jobs: Sign of the Times

Auto Jobs: Sign of the Times | Gold and What Moves it. | Scoop.it

At the Hyundai plant in Montgomery, Alabama more than 20,000 people have applied for one of the 877 job openings.

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The Eurocalypse Has Arrived, Where Do You Put Your Capital? | ZeroHedge

The Eurocalypse Has Arrived, Where Do You Put Your Capital? | ZeroHedge | Gold and What Moves it. | Scoop.it
Today's top MSM headline - European Commission Recommends Euro Banking Union:The euro zone should move toward a banking union and consider recapitalizing its banks using its permanent bailout fund, the European Stability Mechanism, the European...
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What Does Gold Know That Stocks Don't? | ZeroHedge

What Does Gold Know That Stocks Don't? | ZeroHedge | Gold and What Moves it. | Scoop.it

by Tyler Durden:

 

"A quick glance at today's cross asset class market moves shows a clear standout. The massive outperformance of Gold (relative to USD strength, Stock weakness, and Treasury yields tumbling). However, focusing on a slightly longer-term context shows that it appears you can't keep a good gold market down as it has merely recovered from its over-zealous selling pressure of earlier in the week - to resync with FX, stocks, and bonds. Most importantly, as we pointed out yesterday, it is now clear once again that 'sexy, smart' stocks knew nothing then (for the fourth time this week) - but keep on believing, as we will focus on 'other' asset classes as a signal..."

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Trader Dan's Market Views: Gold Continues to Attract Buying at the Bottom of its Trading Range

Trader Dan's Market Views: Gold Continues to Attract Buying at the Bottom of its Trading Range | Gold and What Moves it. | Scoop.it

Trader Dan Norcini:

 

"Gold has once again attracted strong buying down near the bottom of its broad 8 month trading range and has now bounced higher for the day. Strength in the yellow metal has pulled silver up a tad which was sinking under the weight of a collapsing copper market.

 

"While some are ready to pronounce gold DEAD as a safe haven asset, the chart picture denotes otherwise, especially given the broad weakness in the commodity sector as a whole and the rallying Dollar, which continues its technical march towards the 84 level on the USDX. Whenever I see gold moving higher alongside Treasuries and the Dollar, it tells me that all such talk about gold being useless as a store of wealth, is simply false..."

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Your Money Has Been Devalued by 2/3's, Relative to Gold - Greg Weldon

http://bit.ly/RecoveryRealityCheck For the complete audio set from the conference, available in CD and mp3 format. Casey Research's Chief Metals and Mining I...
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Trader Dan's Market Views: Rush into Treasuries Continues to Depress Rates

Trader Dan's Market Views: Rush into Treasuries Continues to Depress Rates | Gold and What Moves it. | Scoop.it

Trader Dan Norcini:

 

"There is what feels like near-panic buying of US Treasuries at the moment, due to the implosion that we are witnessing in much of the European Sovereign Debt markets. Investors/traders are scared to death to own bonds from these problem nations and are rushing into both US Treasuries and German Bunds as safe havens.

 

"The result has been to collapse US interest rates on the Ten Year firmly below not only the 1.8% level, but also below the intra-month spike lows near the 1.7% level. We have one more day left in the month of May but it certainly appears we are on track to set a new monthly closing low..."

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Get Real Time Gold Prices with the free Exact Price Adobe Air widget from Lear Capital

Get Real Time Gold Prices with the free Exact Price Adobe Air widget from Lear Capital | Gold and What Moves it. | Scoop.it
Get real time gold prices updates even when you're on the move. Keep abreast of the precious metal market price with Lear Capital.

 

Turning out to be another interesting week. After yesterday's take down we saw a hit again this morning that occured with the stock market hit. But gold has since recovered from that. I think the 1530 zone is holding on more Central Bank buying but that's just my opinion at this point.

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Newmont CEO - China Doing Everything It Can to Get Gold

Newmont CEO - China Doing Everything It Can to Get Gold | Gold and What Moves it. | Scoop.it

Today the CEO of one of the largest gold producing companies in the world, Newmont Mining, told King World News that China is doing, “everything they can to assemble a bigger gold portfolio.” Richard O’Brien, the CEO of $24 billion Newmont Mining, also said, “I believe inflation is going to rear its ugly head.” But first, when asked about China’s insatiable appetite for gold, O’Brien responded, “Obviously China is now both the world’s largest producer of gold, as well as the largest consumer of gold. Not one ounce shows up as legally leaving China. I think that’s a strong statement that the Chinese people and the Chinese government are looking to hold on to and expand their holdings of gold over time.”

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The Golden Truth: Is The Bell Tolling For The U.S. Dollar?

The Golden Truth: Is The Bell Tolling For The U.S. Dollar? | Gold and What Moves it. | Scoop.it

by Dave from Denver:

 

"...Most people in this country are completely clueless about what China is doing with regard to the dollar, instead preferring to look under the light that CNBC or their trusty financial adviser shines for them for knowledge on the markets. Remember, the collapse of the dollar will happen gradually, then suddenly..."

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China To Start Direct Currency Trading With Japan - NPR

China To Start Direct Currency Trading With Japan - NPR | Gold and What Moves it. | Scoop.it
BBC NewsChina To Start Direct Currency Trading With JapanNPRby AP SHANGHAI (AP) — China and Japan have agreed to start direct trading of their currencies from Friday as Beijing moves toward making the yuan more of a global currency.
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oftwominds-Charles Hugh Smith: U.S.A. 2012: Is This What We've Become?

oftwominds-Charles Hugh Smith: U.S.A. 2012: Is This What We've Become? | Gold and What Moves it. | Scoop.it

Good read by Charles Hugh Smith:

 

"Incentivize victimhood, fraudulent accounting of income/collateral and gaming the system, and guess what you get? A nation of liars and thieves.

 

"Memorial Day is traditionally a day to speak of sacrifices made in combat. Like much of the rest of life in America, it has largely become artificial, a hurried "celebration" of frenzied Memorial Day marketing that is quickly forgotten the next day.

 

"Instead of participating in this rote (and thus insincere) "thank you for your sacrifice" pantomime, perhaps we should ask what else has been sacrificed in America without our acknowledgement. Perhaps we should look at the sacrifices that need to be made but which are cast aside in our mad rush to secure "what we deserve."

 

"The unvarnished reality is that most Americans have no idea what service members experienced in Iraq and Afghanistan, and they don't want to know. When 4,488 white crosses were erected on a hillside to remind us of all those who made the ultimate sacrifice in Iraq, people didn't like it, labeling it "unpatriotic."

 

"That is not the real reason, of course; what is more patriotic than keeping those who served and sacrificed fresh in our awareness? One reason those 4,000 crosses make us uncomfortable..."

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