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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: The Fed's Secret Phone Menu

oftwominds-Charles Hugh Smith: The Fed's Secret Phone Menu | Gold and What Moves it. | Scoop.it

Great post by Charles Hugh Smith:

 

"...Greetings. Please select one of the following options.

 

"The Working Group for Global Domination does not exist. Members please press 1.

 

"If you are a European leader seeking a secret bailout, please press 2.

 

"If you are Chinese leader seeking assistance purchasing another Beverly Hills mansion with cash, please press 3.

 

"If you are a domestic banker seeking another tranch of our $29 trillion in backstop funding, please press 4.


"If you are an incumbent POTUS seeking re-election in a recessionary year, please press 5.

 

"If you represent one of our proxy trading desks, please press 6 for your S&P 500 futures purchase instructions. As a reminder, please trade your own account via black pools. ..."

 

Click over for the full post and videos.

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Mike Krieger Says To Remember The Words Of Joseph Stalin | ZeroHedge

Submitted by Mike Krieger of LibertyblitzkriegRemember The Words Of Joseph Stalin Everyone imposes his own system as far as his army can reach. Ideas are more powerful than guns.

 

"Know Your Enemy

 

"I recall wanting to read Mein Kampf as a young kid, although to this day I have only read excerpts. I wanted to know what made this guy tick, what his thoughts were. How could someone justify such horrific actions. As I have progressed into adulthood I have only become more and more convinced that books written by psychopath killer dictators should be required reading for every single human being on the planet. In a similar vein, I remember hearing the argument back in high school that people should not read Machiavelli’s The Prince. The argument was that if people read a manual on devious thoughts, and the application of ruthless behavior to achieve one’s selfish ends, that it would permeate society and lead us all into a darker place. As soon as I heard this, of course, the first thing I did was head to the book store to buy it. I recall my reaction to the treatise vividly. ..."

 

[Interesting read. click over for the rest]

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The Shape & Future of Indian Gold Demand – Part 2/2 | The Victory Report - Precious Metals Media and More

The Shape & Future of Indian Gold Demand – Part 2/2 | The Victory Report - Precious Metals Media and More | Gold and What Moves it. | Scoop.it

"... India’s demand for the precious metal is estimated to fall by 4% in volume and rise 4% in value in 2012, according to Morgan Stanley. Respondents from several households said they expect gold prices to rise by 8% in 2012; however, an additional 8% to 10% rise would lead to a proportionate decline in volumes.

 

"Indian households are increasing their demand for gold bars and coins. Morgan Stanley notes rising income is behind the growing share of gold bar holdings.

 

"Buying gold as a backup for bad times accounted for 16% of those surveyed, while gifting on events was another 15%. When speaking about the reasons why they bought gold jewelry in the past 12 months, respondents said auspicious events like marriages and festival accounted for 35%, while investment demand accounted for 20%. Around 8% of those surveyed said they bought gold as an impulse buy or bought gold for no specific reason. Another 6% of those surveyed said they bought gold because they were fond of the precious metal."

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Ted Butler realizes that silver market rig is U.S. government operation | Gold Anti-Trust Action Committee

Ted Butler realizes that silver market rig is U.S. government operation | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"In commentary from his proprietary newsletter published at GoldSeek's companion site, SilverSeek, silver market analyst Ted Butler realizes that JPMorganChase's overwhelming short position in silver is essentially a U.S. government operation under the supervision of the President's Working Group on Financial Markets, of which the chairman of the U.S. Commodity Futures Trading Commission, Gary Gensler, whose commission supposedly has been investigating the silver market for years, is a member. ..."

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Gold Stop Hunt Goes Full Retard | ZeroHedge

Gold Stop Hunt Goes Full Retard | ZeroHedge | Gold and What Moves it. | Scoop.it

by Tyler Durden:

 

"... As the world becomes more and more bifurcated by the fail of reality and hope of intervention, liquidity is sucked out of the system from a bid-offer perspective. We can only imagine what FX will be like at the close." click through for the full post.

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Dan Norcini on the #Euro Crisis talking to King World News

Dan Norcini on the #Euro Crisis talking to King World News | Gold and What Moves it. | Scoop.it

Dan Norcini tells King World News:

 

"... When you look at the collapse of 2008, the US had a banking crisis. What the US did was the government basically took on the debt. The government went in and bought up those mortgages, and in a sense helped to recapitalize the banks.

 

"When you contrast that to what we are seeing today in Europe, you have, in Europe ,a sovereign debt crisis. It affects the European banks because the banks own most of the sovereign debt.

 

"What is so strange about what is happening in Europe is the European Stability Mechanism is being funded by the various countries that make up the eurozone. Ironically, many of the countries involved in the funding are insolvent and bankrupt themselves. This is a situation where if it wasn’t so serious it would be comical.

 

"So you essentially have bankrupt countries pledging money to a fund which comes in and rescues the very same bankrupt country. This money is then used to buy the sovereign debt from the banks to help liquify the banks. These countries want the ECB to get involved in backstopping everything. ..."

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Yamarone - Fed Impotent, Depression & China’s Crash Landing

Yamarone - Fed Impotent, Depression & China’s Crash Landing | Gold and What Moves it. | Scoop.it

Richard Yamarone tells King World News:

 

“Construction and housing is flat on its back. Conditions are getting awful. Unfortunately, the only job creation we are getting are the less than desirable burger-flipping jobs. These are minimum wage type jobs and you don’t get the economy coming back with that type of hiring.

 

"State and local governments are shedding jobs continually by 10,000, 15,000, 20,000 jobs each month because they don’t have the revenues coming in from the commercial real estate. There are widespread vacancies. They don’t have enough revenues and incomes taxes coming in. They also don’t have enough revenue coming in from the housing sector, which as I said is flat on its back.

 

So without the incomes and the tax revenues coming in, what do they do? They have to cut services...." click through for the rest.

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Bob Chapman's Future Warning For USA - "Its Over" - Understand?

Mr. Chapman is 72 years old. He was born in Boston, MA and attended Northeastern University majoring in business management. He spent three years in the U. S...
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Now Greece's Rundown Hospitals Are Rationing Basic Materials

Now Greece's Rundown Hospitals Are Rationing Basic Materials | Gold and What Moves it. | Scoop.it
* Hospitals lack staff, basic equipment and supplies * Pharmacies demand cash for drugs * Free clinics staffed by volunteer doctors By Karolina Tagaris ATHENS, June 14 (Reuters) - Greece's...

 

"Greece's rundown state hospitals are cutting off vital drugs, limiting non-urgent operations and rationing even basic medical materials for exhausted doctors as a combination of economic crisis and political stalemate strangle health funding.

 

"With Greece now in its fifth year of deep recession, trapped under Europe's biggest public debt burden and dependent on international help to keep paying its bills, the effects are starting to bite deeply into vital services. ..."

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Eurozone crisis: Banking sector could be 'wiped out' if weakest nations leave

Eurozone crisis: Banking sector could be 'wiped out' if weakest nations leave | Gold and What Moves it. | Scoop.it
Analysis by Credit Suisse estimates that up to 58% of the value of Europe's banks could be wiped out by the departure of the 'peripheral' countries...
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A Blueprint to Kill JP Morgan’s Alleged Massive Manipulative Position in the Silver Futures Market | The Underground Investor

by JS Kim:

 

"... Simply calling the criminal banking cartel’s bluff regarding their incessant manipulation of gold and silver prices is enough to stop it. We must have the courage to act. Simply knowing without doing, or being willing to do without doing is not good enough. The time has come for all of us to be willing to “do”. And if we are willing to do, we can make a huge difference in whether the future path of our world continues down our current path of darkness and destruction or whether we can affect a 180 degree turnaround and usher in a new age of enlightenment. Let me explain.

 

"Over the past several years, several incidents have made it clear that despite the popular belief of the masses that the criminal banking cartel is too powerful to defeat, that defeating them is definitely within the realm of possibility. The fallout from JP Morgan’s media-dubbed “London Whale” this year and the SemGroup bankruptcy in 2008 aptly demonstrated this. The story about JP Morgan employee Bruno Iksil first broke when traders, using the size of price movements and trades they witnessed in a synthetic bond index known as CDX.NA.IG.9, suspected one trader of holding a singular massive position. Later, Iksil was revealed to be holding up to a $100 billion position in CDS (Credit Default Swap)exposure in this particular index. When the underlying bond market turned against Iksil’s massive bets in the CDX.NA.IG.9, reports started leaking that JP Morgan could be facing a $2 billion loss. ..."

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The Shape and Future of Indian Gold Demand - Part 1/2 | Julian D. W. Phillips | Safehaven.com

The Shape and Future of Indian Gold Demand - Part 1/2 | Julian D. W. Phillips | Safehaven.com | Gold and What Moves it. | Scoop.it

by Julian D. W. Phillips:

 

"Morgan Stanley has just issued a solid report on Indian Gold demand and its shape. We at Gold Forecaster believe it gives very good insight into the Indian gold investors' thinking. The addition of some background on the Indian culture helps us to get a perspective of Indian gold investor psyche and to his social structure and how it contributes to his attitude to gold. Morgan Stanley conducted a survey of 2,019 urban and rural gold buyers across 16 Indian cities for urban consumers and 8 Indian states for rural consumers.

 

"The survey report notes that Indians own 20,000 tonnes of gold worth $1 trillion.

 

"Household gold consumption appears to have gone up to $45 billion in 2011 from $19 billion in 2009. To put things in perspective, India's gross domestic product (GDP) is inching closer to $2 trillion. This means, the value of gold held by Indians comprises nearly half of the country's GDP. ..."

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Jesse's Café Américain: Allen Stanford Sentenced to 110 Ten Years in Prison For Ponzi Scheme

Jesse's Café Américain: Allen Stanford Sentenced to 110 Ten Years in Prison For Ponzi Scheme | Gold and What Moves it. | Scoop.it

"... The US Justice Department had referred to Mr. Stanford as 'a ruthless predator responsible for one of the most egregious frauds in history.'

 

"The reigning champions who currently hold the title for ruthless-financial-predators-responsible-for-THE-most-egregious-fraud-in-history could not be reached for comment, as they prepared to leave for their weekend vacation homes in the Hamptons, according to their Personal Assistants at the New York Federal Reserve."

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Trader Dan's Market Views: "Heads - I Win; Tails - You Lose"

Trader Dan's Market Views: "Heads - I Win; Tails - You Lose" | Gold and What Moves it. | Scoop.it

by Dan Norcini:

 

"... If the Greece vote turns out to be one which threatens the stability of the Euro and sends shock waves through the foreign exchange markets, traders are convinced that a large bouquet of liquidity is coming their way early next week. If the Greece vote turns out to be one in which the party favoring the austerity measures imposed upon the country, then the market will give a collective sigh and the RISK ON trades will be back in vogue - at least until Spain or Italy go kaput.

 

"Either way, we seem to have generated buying in the gold market. Not that I am complaining, being a friend of gold, but I must honestly admit, the entire scenario seems repugnant to me in just stepping back and observing what our economic system, not only nationally, but globally, has degenerated into.

 

"I know the drug addict comparison is old and worn out by now, but it sure as hell seems to me to be the best description of today's financial markets. The problem for the druggie is not that he or she is showing withdrawal symptoms - that is the evidence of an addiction. Their body has grown so accustomed to the presence of this substance that it can no longer functionally normally without it. In other words, the withdrawal symptoms, the shakings, the convulsions, the pain, the distress, are merely the outward evidence of an internal problem - addiction. ..." click over for the full analysis.

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Dreams of gold divide crisis-hit Greeks

Dreams of gold divide crisis-hit Greeks | Gold and What Moves it. | Scoop.it

"In the economic wasteland that crisis-hit Greece has become for investors, the promise of gold from mines that once bankrolled Alexander the Great seems like an oasis in a desert. But the dream is by no means unanimous, even if it guarantees jobs in small towns like Aristoteles in northern Greece -- named after the ancient philosopher who was born in the area -- as the country grapples with a monstrous recession.

 

"Greece’s desperate need for foreign capital, coupled with the sharp rise in the price of gold in recent years, has led to a renaissance of efforts to mine the precious metal.

 

"New projects are in the works in three places: near Perama in Thrace in north-east Greece, near Kilkis in the north and in the Halkidiki peninsula, both in the northern Greek province of Macedonia. ..."

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Monday Will Not Be The End Of The World, Sorry | ZeroHedge

Via Mark Grant, author of Out of the Box,It was January 13, 2010 when I first wrote in my commentary that I thought Greece would go belly up. It was in May 2010 when they first needed to be bailed out.

 

"... Any “Big Bang,” if it comes, will not come on Monday morning as that will just be the beginning of the process to scream and shout and dance around like some Opa bar with Ireland, Portugal and Spain demanding equal terms and, oh yes, Spain will be in the hand-out line soon enough along with their banks.

 

"Perhaps that all of this has gone on for so long or perhaps because we keep hearing the cries of “Wolf” each week for the last several years that the markets are impervious to any new cries for help. An odd kind of complacency seems to have set in where nothing matters too much and everything will just be fine. ..."

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French Retail Chain Carrefour Quits Greece

by IBTimes:

 

"French retailing giant Carrefour exits Greece just before a crucial election in that debt-ridden country over fears that the economy will continue to deteriorate.

 

"Carrefour sold its 50 percent stake in its Greek joint venture to former partner, the Marinopoulos Group.

 

"The French company will incur a charge of about €220 million ($278 million) on the transaction.

 

"Carrefour-Marinopoulos, which was formed in 1999, was the largest retail chain in Greece with more than 300 stores." 

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Gold Will Be Top Performer in 2012 - UBS Poll Of 8 Trillion USD ... - Business Insider

Gold Will Be Top Performer in 2012 - UBS Poll Of 8 Trillion USD ... - Business Insider | Gold and What Moves it. | Scoop.it

"... Gold is seen as one of the assets likely to outperform again in 2012 due to risks posed to the euro and longer term risks for the dollar.

"Those polled by UBS were also positive on emerging market debt. Both asset classes, gold and emerging market debt, were the top pick of 22.5% of the assembly – thereby accounting for 45% of the votes.

 

"On gold’s role as a reserve asset, the importance reserve managers attach to the yellow metal has slipped back to 2009 levels, with about 14% having the opinion that it will be the most important reserve currency in 25 years. This marks a decline from the past two years’ surveys wherein over 20% viewed gold to be the most important reserve currency. ..."

 

Read more: http://www.businessinsider.com/gold-will-be-top-performer-in-2012-ubs-poll-of-8-trillion-usd-official-sector-2012-6#ixzz1xsFHTZeO

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China`s growing middle class continues to dip itself in gold - GOLD ANALYSIS - Mineweb.com Mineweb

China`s growing middle class continues to dip itself in gold - GOLD ANALYSIS - Mineweb.com Mineweb | Gold and What Moves it. | Scoop.it

by Shivom Seth:

 

MUMBAI (MINEWEB) -

 

"The rise of China's middle-class is helping support demand for gold in the country. China, the largest producer of gold, is set to become the biggest consumer of the metal in 2012, with a significant proportion of luxury purchases in China veering towards gold accessories, bought by middle-class aspirational consumers.

 

"By 2020, 25% of China's population is expected to be middle-class, creating great consumption demand. Diamond studded luxury items and gold watches are seeing 'blow-out like demand' from wealthy shoppers in China, who are snapping up these expensive accessories to make a fashion statement, give as business gifts or just collect.

 

"What also augurs well this year is that middle-class wealth is expected to spread to 600 million people in third-tier Chinese cities, with a sizeable percentage investing in gold or buying gold jewellery. ..." click through for the rest of the article.

 

[Focus is jewelry consumption but I also think there is an inherent built in consumption of silver coin that is in the culture from many years ago that helps drive the understanding that the precious metals are wealth.]

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Short Market Update by Peter Grandich

Short Market Update by Peter Grandich | Gold and What Moves it. | Scoop.it

"Gold – Hello boatload of bears? Whatever happened to your sell-off? Despite almost daily bear raids in the paper market, the gold price is moving higher, not lower. Hmm…. Two closes above $1,700 and its curtains for the bears – again!" - Peter Grandich

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Greek election: World braces for Greece turmoil | Economy | News | Financial Post

Greek election: World braces for Greece turmoil | Economy | News | Financial Post | Gold and What Moves it. | Scoop.it

"TOKYO/ZURICH – The threat of turmoil sweeping across global markets next week if Greece’s election prompts a panicky flight of money from the eurozone has policymakers from Beijing to Zurich preparing to protect their currencies and economies from an unwelcome influx.

 

"Swiss National Bank President Thomas Jordan is among the most vociferous, dangling the threat on Thursday of imposing capital controls to stop the Swiss franc from soaring as a result of investors seeking the currency’s relative safety.

 

“The SNB will not tolerate this,” he said bluntly.

Switzerland is not alone. The Bank of Japan is prioritizing market stability, according to one source, with economists saying the bank’s main concern would be to stop the yen taking off.

 

"Intervention would be a likely response should the yen rise too high for the authorities’ taste. With G20 leaders meeting in Mexico next week there is even speculation of a coordinated global response although no evidence of that has emerged so far.

 

"India has a range of crisis management groups within the government set up to deal with eurozone-triggered financial stress, according to Kaushik Basu, the finance minister’s chief economic adviser.

 

"In China, key agencies including the central bank, have been asked to come up with similar plans, sources said last week. Measures may include keeping the yuan steady and stepping up policies to stabilize the economy, they said. ..."

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Stocks Briefly Jump on Central Bank Action Report

Stocks Briefly Jump on Central Bank Action Report | Gold and What Moves it. | Scoop.it

by JeeYeon Park:

 

"Stocks initially shot higher in the final hour Thursday following a report that central banks are preparing coordinated action to provide liquidity after the Greek election, but lost steam within minutes to near where they had previously been trading.

 

"A senior U.S. official cautioned that the Greek election will not provide "the definitive signal on what happens next" in the euro zone debt crisis, according to Reuters. But if severe market strains emerge after the elections, central bankers will be ready to ensure enough cash is flowing through the financial system. ..."

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Best Bullion Blog: A Temporary Hiccup or Are the Bears in Charge?

Best Bullion Blog: A Temporary Hiccup or Are the Bears in Charge? | Gold and What Moves it. | Scoop.it

By Laura Gross:

 

"We are now in the middle of yet another uncertain week in the marketplace. Earlier this week, the bulls started out strong, but markets dropped in afternoon trading on Wednesday, with stocks accelerating their losses based on the news that Spanish credit was downgraded from a B to a CCC+. While the SPX is holding up fairly well at 1314, the DOW dropped 77.42 points (0.62%) with a close at 12,496. At The Naked Traders, we are watching the 1300 level on the SPX as the professional traders have identified it as a key psychological area. A close below 1300 could signal a further selloff in the markets. ..." Click through for the rest.

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oftwominds-Charles Hugh Smith: Black is White, Hedges are Bets, and Your Money is Mine (guest essay)

oftwominds-Charles Hugh Smith: Black is White, Hedges are Bets, and Your Money is Mine (guest essay) | Gold and What Moves it. | Scoop.it

by Zeus Yiamouyiannis on Charles Hugh Smith's site:

 

"... Two notable recent contradictions have surfaced in the ongoing debacle called big banking.

 

"1) Hedges for big banks have evolved into gambling vehicles that increase risk rather than reduce risk.

 

"2) Guaranteed savings deposits in those same big banks are being used as fodder in the high-risk investment casinos of global finance. There are no longer effective firewalls or truly secure funds.

 

"Capitalism now means big banks profit from their so-called successes, and others pay for their failures: “Black is white.” JP Morgan has recently lost $3 billion dand counting on a ‘sure thing’: “Hedges are bets.” Investment banks are now merged with conventional banking and secured by taxpayer and depositor money: “Your money is mine. ..."

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Monthly Gold Pattern Remains Bullish | David Nichols | Safehaven.com

Monthly Gold Pattern Remains Bullish | David Nichols | Safehaven.com | Gold and What Moves it. | Scoop.it

by David Nichols:

 

"... Gold's monthly chart is telling a vastly different story than the one we're getting from gold on a day-to-day basis. Right now in the short-term it feels like gold is stuck in the dumps, or to put it more charitably, stuck in the doldrums. Gold can't maintain any sort of upside momentum, as it's been rare to even see gold go up 2 days in a row, much less 2 weeks in a row.


"In fact, it's been nearly 6 months -- 6 months! -- since gold has been able to string together two weeks in a row to the upside.


"But in spite of this, the monthly pattern is still in very good shape. On this longer time-frame gold is merely completing a typical consolidation triangle pattern, which is the standard reaction to a very strong trend. This is the energy from the big move up settling out of the market, as gold prices seek equilibrium following such a major event. ..."

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