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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The National Debt and Federal Budget Deficit Deconstructed - Tony Robbins

http://www.tonyrobbins.com/ Watch Tony Robbins discuss the $15 trillion U.S. national debt -- how big is it really? And what can we do about the enormous fed...

 

hat tip to http://www.caseyresearch.com/cdd/goodbye-us-debt-ceiling-we-barely-knew-ya ;

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Coordinated Central Bank Actions For One More Kick Of The Can « Jim Sinclair's Mineset

From the desk of Jim Sinclair:

 

"My Dear Friends,

 

"Monty Guild, a friend of mine for more than forty years, is the most honest and capable man, in my opinion, in money management.

 

"I respect Monty’s feelings on many matters, certainly the macro picture. Monty, like I, believes it is possible that coordinated central bank actions in the USA, EU, Japan and China are being discussed. The economic problems are so severe, so international, so global, so entwined, so insoluble and still caused primarily by the greed of 1990 to present finance in the form of OTC derivatives that only coordinated global action can kick this can one more time.

 

"Gold is truly going to and through $3500. The gold business is the best business to be in.

 

"Respectfully, Jim"

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We Are Staring At Economic Destruction & Soaring Inflation

We Are Staring At Economic Destruction & Soaring Inflation | Gold and What Moves it. | Scoop.it

Today Michael Pento writes exclusively for King World News to put readers ahead of the curve on what is happening with central planners. Pento warned, “The European Central Bank and Federal Reserve are both about to announce, this very month, an incredible assault on the Euro and the dollar.” Pento also cautioned, “... this is just the beginning of rising unemployment and soaring inflation.”

 

Pento also let investors know how to protect themselves in the coming chaos. Here is Pento’s piece: “Central banks will do something in September that causes fiat currencies to be flushed down the toilet. It will mark the beginning of the end for money that is not backed by precious metals. The events will be a desperate and final attempt to save faltering global GDP, but it will only lead to further economic destruction and intractable inflation.”

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Turk - A Remarkable & Historic Breakout In Gold & Silver

Turk - A Remarkable & Historic Breakout In Gold & Silver | Gold and What Moves it. | Scoop.it

Today James Turk told King World News, “This breakout (in gold and silver) is very important historically because it is not only ushering in the next great move in the metals, but it also signals the beginning of the next leg of the destruction of fiat money.” Turk also said, “Given that silver is still in stage 1, the media attention won't begin until silver hits a new record high over $50 per ounce, and I think this is coming in just a few months.

 

“Even though the US is closed for the Labor Day holiday market, Eric, gold and silver are on fire over here in Europe. Silver has hurdled $32 while gold looks ready to take on resistance at $1700, which is a key level the bears have been defending since last March. ...”

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December gold futures surge higher in Friday's trading session

December gold futures surge higher in Friday's trading session | Gold and What Moves it. | Scoop.it

Anna Coulling writes:

 

"Gold futures surged higher on Friday with the December Comex contract ending the session and week at $1687.60, it’s highest level for over five months. Friday’s surge in the price of gold was largely triggered by weakness in the US dollar, which sold off during the trading session following the statement by FED chairman Ben Bernanke in which he hinted that the Federal Reserve were ‘ready to pull the trigger’ for a further round of quantitative easing. With this much vaunted stimulus for the US economy now virtually guaranteed, this will no doubt provide the catalyst for further gains in the gold price, with a consequent weakening in the US dollar as a result.

 

"From a technical perspective the recent breakout on the daily gold chart gave a clear signal of the bullish sentiment, following the sustained period of sideways congestion which saw the precious metal trade in a narrow range throughout the summer. The breakout finally arrived on the 21st August, finally breaking and holding above the $1640 per ounce level, and with this strong platform now in place, gold looks set to build a sustained bullish trend over the next few months. ..."

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Spain's Bankia reports 4 bln euro loss, to receive immediate aid - Reuters

Telegraph.co.ukSpain's Bankia reports 4 bln euro loss, to receive immediate aidReutersMADRID Aug 31 (Reuters) - Spain's national bank rescue fund said on Friday it will inject emergency liquidity into troubled lender Bankia immediately after the...
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Don Coxe Recommends Investors Read Lenin to Understand the Markets - The Gold Report

Don Coxe Recommends Investors Read Lenin to Understand the Markets - The Gold Report | Gold and What Moves it. | Scoop.it

"China and India have always been crazy for gold and the yellow metal remains the choice store of value in those two countries, says Don Coxe, a strategic advisor to the BMO Financial Group. In an exclusive interview with The Gold Report, Coxe explains how demographic shifts are affecting the price of gold and delves into the logic of investing in gold as a long-term strategy. Coxe also draws an important lesson in economics from his reading of Lenin.

 

"The Gold Report: What fundamentally attracts you to gold?

 

"Don Coxe: There are many serious reasons why I like gold, but one very important reason has to do with the shift in the share of world gross domestic product away from the highly industrialized nations toward emerging economies in Asia. For thousands of years, people in China and in India have respected gold. The Western countries, on the other hand, were captivated some decades ago by economists who claimed that gold had become irrelevant as money. But the Chinese and Indian people hoard gold as a store of value and trade it as a treasured commodity.

 

"TGR: Are the pricing mechanisms for gold shifting toward control by the East?

 

"DC: Consider an art auction. If a bidder who 10 years ago only bought one painting suddenly buys 50 paintings, that bidder will greatly influence subsequent bids for the art. In China and India there are suddenly many more wealthy people than they've had for millennia. In a culture that values gold, newly rich middle class people will buy the yellow metal not only for personal adornment, but also as a form of savings that is safer than paper money. ..."

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In The News Today « Jim Sinclair's Mineset

From the desk of Jim Sinclair:

 

My Dear Extended Family,

 

The world of words and MOPE carries on. MSM had you convinced that a major decision was due today on Monetary Policy. Then MSM convinced you that gold would be pounded out of existence if no major decision today to bring QE 3 was made.

 

Aren’t you tired of being pulled all over the place by the Money Bunnies of financial TV reading you their scripts to sell paper assets?

 

Gold is going to and through $3500. That is the whole story and the only story. All else is drama and noise.

 

Jim

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India looks for rare earths under the sea | MINING.com

India looks for rare earths under the sea | MINING.com | Gold and What Moves it. | Scoop.it

by Cecilia Jamasmie:

 

"India is already building a rare-earth mineral processing plant in the east coast state of Orissa and will invest $135 million in a new exploration ship and the refurbishing of another vessel to mine minerals under its oceans.

 

"Only last week, State-owned Rare Earths Ltd. (IREL) applied for approval from the Orissa state government for a rare earth exploration permit on a 2,500ha coastal land package at Bramhagiri in Puri district. IREL is hopeful the results of this exploration will help India meet its own demand for minerals. ..."

 

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'Fiscal Cliff' ... an Illusion or Reality? | Uncommon Wisdom Daily

'Fiscal Cliff' ... an Illusion or Reality? | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it

by

 

"Extend and Pretend

 

"Extend the tax cut for a short period. Kick the can down the road on spending cuts. Roll out all the old accounting gimmicks we’ve seen before to put off reality as long as possible when the debt ceiling is breached. Patch together temporary extensions in the debt ceiling as the debates and standstills continue.

 

"It is true that the so-called “fiscal cliff” is the convergence of a lot of things at the same time. But don’t for a minute think that Washington can do anything to keep us from going over the economic edge and plunging into the abyss below.


"Because we have already gone over the cliff. One simple metric makes it clear …

 

"In July the government released the gross domestic product numbers for the second quarter of 2012. The part of the story that didn’t make the evening news is this: The federal government added $2.33 in debt for every $1 increase in GDP.

 

"The headwinds of debt have long since blown away the green shoots of growth. We don’t have to wait for the end of the year. We have already gone over the fiscal cliff. ..."

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oftwominds-Charles Hugh Smith: The Real Reverse Robin Hood: Ben Bernanke and his Merry Band of Thieves

oftwominds-Charles Hugh Smith: The Real Reverse Robin Hood: Ben Bernanke and his Merry Band of Thieves | Gold and What Moves it. | Scoop.it

by Charles Hugh Smith:

 

"Amidst electioneering chatter about a "reverse Robin Hood" who steals from the poor to give to the rich, it's important to identify the real Reverse Robin Hood: Ben Bernanke and his Merry Band of Thieves, a.k.a. the Federal Reserve. It's especially appropriate to reveal Ben as the real Reverse Robin Hood today, as the Chairman is as omnipresent in the media as Big Brother due to the Cargo-Cult confab in Jackson Hole, Wyoming.

 

"Please answer the following questions before launching a rousing defense of the All-Powerful Fed and its chairman:

 

1. What is the nominal yield on your savings account, thanks to the Fed's zero-interest rate policy (ZIRP)? (Answer: 0.25%)

 

2. What is the inflation-adjusted yield on your savings account? (Answer: - 2.25%)

 

3. What is the rate of interest the Fed charges banks for "free money"? (Answer: 0%)

 

4. What is the average interest rate for bank-issued credit cards? (Answer: 14.52%)

 

5. What is the interest rate for student loans? (Answer: 6.8%, and 7.9% or 8.5% for PLUS loans)

 

6. Does the Fed pay interest on the funds banks have borrowed from the Fed for 0% and then deposited with the Fed? (Answer: yes)

 

7. Exactly how has the average American worker benefited from the Fed's policies?(Answer: interest on credit cards has declined from 19.9% to 14.52%, if the worker has outstanding credit, which few of the bottom 90% do.) Theoretically, workers could re-finance their homes at lower interest rates, but the vast majority are either underwater or no longer qualify. Ben and the Merry Thieves love pulling Catch 22. ...

 

Click through for the rest of the list.

 

http://charleshughsmith.blogspot.com/2012/08/the-real-reverse-robin-hood-ben.html

 

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France's Hollande speeds launch of state investment bank

France's Hollande speeds launch of state investment bank | Gold and What Moves it. | Scoop.it

"France will launch a public investment bank within days to help cash-strapped companies to obtain financing, President Francois Hollande said on Friday, bringing forward the date as his government speeds up efforts to fight a downturn.

 

"The bank, originally due to be launched in January of next year, is designed to support small- and medium-sized firms which are struggling to obtain financing from private lenders amid super-tight credit conditions.

 

"A public investment bank will be created in the coming days," Hollande told journalists in north-eastern France. "There is no time to wait: we are facing too many emergencies."

 

"France is also fast-tracking the launch of a scheme to create 150,000 state-sponsored jobs for youths, in a move to tackle rising unemployment. ..."

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When One Hilsenrath Is Just Not Enough, Here's Another: "Bernanke Signals Readiness To Do More" | ZeroHedge

Tyler Durden on www.ZeroHedge.com writes:

 

"In the immortal words of the Jackson 5: "I'll Be There" seems to be the meme du jour - which appears to us to be the same message that Bernanke (and his proxy Hilsenrath) have been on for a few years now. However, in case you hadn't had enough sycophantic central-bank-fellating 'hope', the WSJ's front-man just reiterated for one and all that Ben's our man. In our subtle opinion, it seems however that perhaps Bernanke was a little disingenuous with his talk of 'policy tool effectiveness' - as clearly his efforts have not had the desired economic effect so far (or he would not need to reiterate the ability to do more of the same). ..."

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The real story behind those Ron Paul delegates from Maine (Video of march from floor) | Washington Times Communities

The real story behind those Ron Paul delegates from Maine (Video of march from floor) | Washington Times Communities | Gold and What Moves it. | Scoop.it

by Thomas Mullen:

 

"TAMPA, September 2, 2012 – By the time of Marco Rubio’s speech at the Republican National Convention (RNC), rhetoric overload and sore feet had overcome any desire I had to listen. I sat down at a table in the corridor of the Tampa Bay Times Forum. A few minutes later, several young people sat in the other chairs.

 

"One of them was wearing a tee shirt that read, “Texas Remembers the Alamo, and the Maine, and the Oklahoma, and the Louisiana, and the Oregon, and the Massachusetts.”

 

"Those are the other five states in which Ron Paul had majorities one week before the RNC. Together with the three states he actually won (Iowa, Minnesota and Nevada) Ron Paul would have carried eight states had many of those delegates not been unseated at the last minute.

 

"The man wearing the tee shirt was Chris Howe, Ron Paul supporter and alternate delegate from Texas. Rob Hinojosa was a guest and the graphic designer of the tee shirts.


"One day before, both had marched out of the RNC along with the Maine delegation and an army Ron Paul’s other delegates chanting “As Maine goes, so goes the nation! ...”

 

Read more: The real story behind those Ron Paul delegates from Maine (Video of march from floor) | Washington Times Communities ..."

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YOU AIN’T SEEN NOTHING, YET, FRACTAL GOLD REVIEW « Jim Sinclair's Mineset

YOU AIN’T SEEN NOTHING, YET, FRACTAL GOLD REVIEW « Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

"YOU AIN’T SEEN NOTHING, YET"
“FRACTAL GOLD REVIEW- EXTENDED”
LONG-TERM GOLD OVERVIEW

 

"The long-term chart of Gold shows the current period on the right to compare with the late 70’s on the left. We can see the log channel for Gold in the late 70’s in light blue on the left where Gold soared into the first circle to double the log channel. On the right side of the chart we see the current log channel for Gold in light blue with a parallel line above the channel to represent a doubling of the channel, today. The light blue circle, above, would be the equivalent move today to the sharp move that doubled the channel in the late 70’s. The current 3 fan-line formation is “in the red square.” We see fractal pure parabolic 5th wave moves in the late 70’s and today, currently Gold is now ready to go parabolic on the log chart. ..."

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Goodbye, US Debt Ceiling, We Barely Knew Ya - Casey Research

If you earned $1 million a day, how long would it take you to pay off the US debt?

 

"Dear Reader,

 

"When our great leader came into power on January 20, 2009, the government's many debts added up to $10.6 trillion.

 

"This week, with his regime less than four years old, the Red Sea of debt has risen by 51%, broaching the latest debt ceiling of $16 trillion.

 

"Maybe, just maybe, justifying the critics in their claims that some of the clowns in Cirque de Obama lack a certain restraint when it comes to using the national credit card. ..."

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Market Thoughts from Peter Grandich

Market Thoughts from Peter Grandich | Gold and What Moves it. | Scoop.it

Peter Grandich writes:

 

"U.S. Stock Market - The “Don’t Worry, Be Happy” crowd on Wall Street shall eat up the perception that Bernanke and the FED have or will be in QE3 mode. Despite numerous fundamental and technical reasons for concern, it’s been my belief that the path of least resistance remains up, not down. I continue to think a marginal, new all-time high is possible. ..."

 

On gold he notes:

 

"The “mother” of all gold bull markets has had a classic consolidation/correction in a secular bull market that still has much left on the upside.

 

"Please remember we shall be collecting funds for the “Tokyo Rose” of gold bears when we go to new highs. ..."

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Browne: Gold Standard Would Help, Fed Won’t Allow It

Browne: Gold Standard Would Help, Fed Won’t Allow It | Gold and What Moves it. | Scoop.it
Euro Pacific Capital’s John Browne sounds off on global monetary policies and how they are impacting economies.

 

Politicians and Fed drunk on power and money.

 

Click through for the video.

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Eurozone break up will lead to 'catastrophic' unemployment - UN — RT

Eurozone break up will lead to 'catastrophic' unemployment - UN — RT | Gold and What Moves it. | Scoop.it

"The UN Labor body cautions that a 'catastrophic' rise in European youth unemployment could happen if Greece leaving the eurozone spearheads a split.


"The average unemployment rate in the 17 eurozone member states would rise to 13%, Ekkehard Ernst, a senior economist with the UN International Labor Organization told the German daily Sueddeutsche Zeitung. Crisis-hit Spain would see roughly a third of its population out of job by 2014, with jobless rates among 15-24 year-olds rising to 51.3%.

 

"The eurozone’s strongest economy, Germany which can so far boast the lowest unemployment rate in the area, would head towards the gloomy number of an 11% jobless rate by 2014.

 

"The economist’s predictions echoed the newly released EU statistics agency figures which showed on Friday that jobless numbers across the eurozone hit a record 18 million in July, with an additional 88,000 people joining the ranks of the unemployed throughout the month. ..."

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Gold Breaks Out of Flag Pattern After Bernanke’s Pro-QE3 Speech

Gold Breaks Out of Flag Pattern After Bernanke’s Pro-QE3 Speech | Gold and What Moves it. | Scoop.it

Following up with the previous update from Thursday (8/29), gold did indeed break below a short-term rising trendline, but remained above an anticipated support at the 1640.60 pivot. It was declining in a flag pattern as shown in the 4H chart. 

 

click through for the charts

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Ron Paul: I'll Be Back! RNC Destroys Democracy Because of Their Fear of Ron Paul

http://www.RonPaul.com - Please like, share, subscribe & comment! Facebook: http://www.facebook.com/ronpauldotcom Backup YouTube channel: http://www.youtube....

 

hat tip to http://globalpoliticalawakening.blogspot.com

 

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#1 REASON SILVER & GOLD WILL GO HIGHER - The Prospector Blog

#1 REASON SILVER & GOLD WILL GO HIGHER - The Prospector Blog | Gold and What Moves it. | Scoop.it
TheProspectorSite.com

 

"... If I must pick one major influence it would have to be FEAR. Most metal owners up until now bought silver and gold hoping for profit. New buyers will seek out silver and gold to quench economic fear and uncertainty all while trying to protect what little wealth remains. This fear is building as you read this and why so many hang their hats on this next election. The truth is President Obama could tax 100% of our wealth away and not dent our growing deficit. A president hopeful, like Mr. Romney, could cut programs & taxes yet still not gain control of a growing deficit.


"The last four years has resulted in a futile attempt to restart a bubble economy by throwing trillions of borrowed dollars down the drain. Soon the masses will wake up to the fact that printing trillions of dollars only pads the pocket books of a few while lessening the buying power of most. The effects of such spending (debt) are extremely damaging for those holding wealth in soft assets but few holding dollars truly understand why. ..."

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Notes From Underground: Old Faithful Is In Yellowstone, Not the Grand Tetons

"For the record, the Jackson Hole meeting actually takes place in the lodge at Grand Teton National Park. Again, the Ben Bernanke of QE fame WILL NOT OFFER UP ANOTHER ROUND OF QE AT THE JACKSON HOLE SYMPOSIUM. To do so would let the scallywags that OCCUPY WASHINGTON TO FINISH ANOTHER YEAR IN OFFICE WITH A GOLD MEDAL FOR IRRESPONSIBILITY. Chairman Bernanke, the WALL STREET MACHINE is hoping that you provide another dose of LIQUIDITY. Do not perform as OLD FAITHFUL and deliver. Force the hand of ELECTED OFFICIALS to actually make a serious attempt to deal with their constitutionally prescribed responsibility, FISCAL POLICY. ..."

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NWO Centralises Power: EU Bank Pushes For Control Of 6000 Eurozone Banks

The European Central Bank would be given sweeping authority over all 6,000 eurozone banks under a plan being drawn up by the European Commission, putting Brussels on a collision course with Germany and the ECB itself, which have urged a more decentralised first step towards "banking union".

http://www.ft.com/cms/s/0/1f8cacda-f2b0-11e1-8577-00144feabdc0.html ;

Brussels pushes for wide ECB powers
Brussels in sweeping regulation push

 

hat tip http://www.blacklistednews.com/European_Central_Bank_Pushes_For_Control_Of_6000_Eurozone_Banks/21291/0/0/0/Y/M.html ;

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It starts: first Asian bank mulls British exit from the EU – Telegraph Blogs

It starts: first Asian bank mulls British exit from the EU – Telegraph Blogs | Gold and What Moves it. | Scoop.it

By Ambrose Evans-Pritchard

 

"So we have a new term: BRIXIT.

 

"Japan's biggest bank Nomura has issued an 11-page study evaluating the likelihood that the UK will leave the European Union entirely or partly.

 

"Events could accelerate as soon as this autumn if eurozone woes force the Government to commit to a firm date for a BRIXIT referendum.

 

"The effect a looser relationship with the EU would have on the UK economy in general and on the financial services sector in the UK in particular is not clear at this time, even though British eurosceptics argue that being freed from EU regulation would be a booster. However, the prospect is, in our view, bound to raise concerns – indeed, is doing so already in the City."

 

"The core point is that the eurozone may have to take drastic steps in integration (fiscal union, etc) to save the euro, making it nigh impossible for a fully sovereign state to remain part of the Project.

 

"In other words, it is not so much Britain leaving the EU as the EU leaving the treaty-based club of sovereign states it was supposed to be. ..."

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