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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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Stephen Leeb tells King World News, “You may see a situation where gold is at $1,400..."

Stephen Leeb tells King World News, “You may see a situation where gold is at $1,400..." | Gold and What Moves it. | Scoop.it

With a sea of red across virtually all markets, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb told KWN that global financial markets are in an extraordinarily unstable situation. Leeb also said investors should expect to see more “tumutuous events” ahead. But first, here is what Leeb had to say about the derivatives crisis the world faces today: “When you start talking about quadrillions (of dollars), you are talking about numbers that are 1,000 times larger than $1 trillion. GDP is measured in trillions, and when you start talking quadrillions, you are talking about numbers that dwarf worldwide GDP...

 

“...You may see a situation where gold is at $1,400, and then two months later it’s at $2,500. That’s just one of many possible scenarios. We don’t know the bottom for sure right now, but one thing is certain, you are going to see new highs in gold. Investors just need to hang in there."

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Ben Davies - 3rd LTRO Coming & Fed to Power Up Swap Lines

Ben Davies - 3rd LTRO Coming & Fed to Power Up Swap Lines | Gold and What Moves it. | Scoop.it

With so much fear and uncertainty in markets around the world, today King World News reached out to Ben Davies, CEO of Hinde Capital. Davies told KWN that “Bank capital is scarce” and “the ECB will react with a 3rd LTRO as their is no alternative for them.” He also said, “the FED will power up the US dollar Swap lines.” Davies also discussed gold, but first, here is what he had to say about what is happening in Europe: “I would note we are in a deflationary spell. The European default process, I outlined over last few years, is about to become disorderly. The Greek risk escalates the disorderly default risk for others in the periphery. The ECB and IMF stand to lose most on the Greek default, hence the 5.2 billion euro disbursement, paid on 10th May...

 

"...Gold bearish sentiment is becoming extreme and with solid physical demand we are not over-thinking the market here. We are in a big range call it 1550 – 1850. Moves lower will be short lived. Gold mining costs are really $1250 to $1350 and this is the ultimate floor in market. Talk of $1,000 gold is only applicable if all assets collapse in deflationary fall out. In such scenario remember your purchasing power is what is important not nominal prices..."

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70 MILLION OF THE 140 MILLION WORKING AMERICANS MAKE LESS THAN $25,000 « The Burning Platform

70 MILLION OF THE 140 MILLION WORKING AMERICANS MAKE LESS THAN $25,000 « The Burning Platform | Gold and What Moves it. | Scoop.it

"Half of all wage earners made less than $26,364 in 2010..."

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A FEW MINUTES WITH “RANTING ANDY” | The Prospector Blog

A FEW MINUTES WITH “RANTING ANDY” | The Prospector Blog | Gold and What Moves it. | Scoop.it

"Prospector Question: The perception today is that plenty of new bullion (both gold & silver) is available but we both know this is far from true. Does the average PM fence sitter truly realize how little PM actually exists?

 

"Ranting Andy: I don’t feel such a perception exists, as nearly no one – particularly in the States – is even aware of Precious Metals, let alone to have an opinion on supply. In other words, the “average PM fence sitter” probably describes less than 1% of the U.S. population, and less than 10% of the world population..."

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The Influence of the General Stock Market and Crude Oil on Gold | P Radomski | Safehaven.com

The Influence of the General Stock Market and Crude Oil on Gold | P Radomski | Safehaven.com | Gold and What Moves it. | Scoop.it

by p Radomski:

 

"We're getting whiplash from all the political changes in Europe, neo-Nazis in an unstable government in Greece and a changing of the guard in France-- "adieu" to Nicolas Sarkozy. We see plenty of reasons for holding on to our long-term gold positions despite the clobbering the yellow metal got on Wednesday down to a four-month low. The euro tumbled this week against the dollar in the worst run since 2008. There is an intense resurgence of political risk in Europe and a couple of months of weak jobs numbers in the U.S. All that has put stimulus back on the table. Another item on the table is the risk of a Greek euro exit, which has risen to as high as 75 percent; according to Citigroup Inc. We also see a rising anti-austerity tide gaining ground in Europe and the abolishing of a gold excise duty in India, all favorable for gold..."

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The Golden Truth: "My Investing Model is ABCD: Anything Bernanke Cannot Destroy"

The Golden Truth: "My Investing Model is ABCD: Anything Bernanke Cannot Destroy" | Gold and What Moves it. | Scoop.it

"We are in the last innings of a very bad ball game. We are coping with the crash of a 30-year–long debt super-cycle and the aftermath of an unsustainable bubble - David Stockman."

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Living the California debt based dream – Bankruptcies in California increased 557% | ZeroHedge

Living the California debt based dream – Bankruptcies in California increased 557% | ZeroHedge | Gold and What Moves it. | Scoop.it

"The California housing market sits in an odd stage of limbo. You can see that the public for the most part is fully aware of the situation like an Alamo standoff in real estate. People fully acknowledge now that banks are holding off a tremendous amount of inventory. There is little that is secretive about the shadow inventory at this point. Yet with all the distressed properties, people are looking at artificially low rates and are wondering if this is the time to buy (assuming they are not one of the 20+ percent that are underemployed). Adjustable rate mortgage use is at all-time lows and why would you not go with a fixed rate given the insanely low rates? Yet the market and economy is not healthy. Mortgage rates and low inventory would be signs of a healthy market in other times but the opposite is the case. What does this mean for housing going forward?"

 

{Forward?... Isn't that the President's new slogan?}

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India's March Industrial Output Tanks

India's March Industrial Output Tanks | Gold and What Moves it. | Scoop.it
India's industrial output fell 3.5 percent in March from a year earlier, according to government data, triggering a fall in the Sensex and the rupee.
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Nick Laird, "Gold Price Oscillator" chart - Ed Steer's Gold & Silver Daily

Nick Laird, "Gold Price Oscillator" chart - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it

Ed Steer writes:

 

"While on the subject of Nick Laird, here's his "Gold Price Oscillator" chart that he sent me in the wee hours of this morning...and he's not at all happy with what it shows...and this is what he had to say about it..."This indicator over the last five years has given some of the most brilliant buy signals of all the charts I have. On each of the buy signals the markets ended up considerably higher many months later. Now it has just given a sell signal."

 

"I don't know what will follow, but I think we'll find out soon enough. New lows won't surprise me now. Sub $1,500 is a good possibility."

 

"But I want to add the caveat that we could still bottom between here and the low in December...and if we bottom in the next $30 and then move higher then the low in December...that will validate it as the low. If we break that low, then yes, it could get ugly."

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5 reasons the sell off sets up a gold buying opportunity

5 reasons the sell off sets up a gold buying opportunity | Gold and What Moves it. | Scoop.it

by Frank Holmes

 

"There was a strong reaction on Tuesday to the elevated debt crisis in Europe, with commodities and equities being indiscriminately sold. Gold fell 3 percent this week, losing its safe haven status as the dollar grew stronger and the 10-year government note headed lower.


[T]he markets generally overreact to negative news, however, investors should keep in mind gold's normal monthly historical volatility. Throughout the past 20 years of monthly returns, the precious metal generally increased only 0.5 percent in May, and has historically declined in June and July..."

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Norcini - If This Happens, It Will Signal A Collapse

Norcini - If This Happens, It Will Signal A Collapse | Gold and What Moves it. | Scoop.it

LOL Eric King gets some of the best pics for headlining articles! LOL 

 

"With global investors concerned about key markets, today King World News interviewed legendary Jim Sinclair’s colleague and fellow trader, Dan Norcini. Norcini told KWN that a decisive break below the 1.8% level on the US Ten-Year Note would signal that a tsunami of deflation could engulf the globe. Norcini said this could trigger “a collapse in tax revenue” and budget deficits would “blow out of control.” Here is how Norcini described the precarious situation: “If we see the yield on the US 10-Year Note break below the 1.8% level, what it’s to signal to bond traders around the world is that we have a deflationary wave coming. I think the reason the 1.8% level has been a floor so far is because most traders are convinced the Bernanke-led Fed will not allow deflation to occur.”

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A Chinese Group Plans To Construct A 200 Acre “China City” In Michigan

A Chinese Group Plans To Construct A 200 Acre “China City” In Michigan | Gold and What Moves it. | Scoop.it

"A Chinese group known as "Sino-Michigan Properties LLC" has bought up 200 acres of land near the town of Milan, Michigan. Their plan is to construct a "China City" with artificial lakes, a Chinese cultural center and hundreds of housing units for Chinese citizens. Essentially, it would be a little slice of communist China dropped right into the heartland of America. This "China City" would be located about 40 minutes from both Detroit and Toledo, and it would be marketed to Chinese business people that want to start businesses in the United States. Unfortunately, this is not just an isolated incident. In fact, Chinese companies have been buying up land and businesses all over the country in recent years. There has even been talk of establishing "special economic zones" inside the United States modeled after the Chinese city of Shenzhen. It was inevitable that the Chinese were going to do something with the trillions of dollars that they have made flooding our shores with cheap products. Now they are rapidly buying up pieces of America, and many of our politicians are welcoming them with open arms."

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Harvey Organ's - The Daily Gold and Silver Report: Spanish 10 yr bonds rise to 6.08% yield/Italian bonds 5.60%/Nationalization of Spanish Bankia/

Harvey Organ's - The Daily Gold and Silver Report: Spanish 10 yr bonds rise to 6.08% yield/Italian bonds 5.60%/Nationalization of Spanish Bankia/ | Gold and What Moves it. | Scoop.it

"The total OI for silver was even more baffling to our bankers. With silver falling on its sword to finish in the low 29's one would have thought that many silver longs would throw in the towel. Nope!! The total OI actually rose by 1410 contractions from 112,139 to 113,549. Both Ted Butler and I agree that some strong entity is after physical silver. There is no other explanation for this. The front delivery month of May also shocked our bankers. The OI actually rose by 3 contracts (from 406 to 409 contracts) despite the huge downfall in the silver price.


"Nobody liquidated. I wish the regulators can explain this phenomena to us.


"The next delivery month is July and here the OI rose by 1055 contracts to 61,107 from 60,052..."

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Who Is Crashing The System?

Who Is Crashing The System? | Gold and What Moves it. | Scoop.it

With continued volatility in many of the key global markets, 40 year veteran, Robert Fitzwilson wrote this exclusive piece for King World News. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the United States. Here are Fitzwilson’s observations: “We know that the world’s debt-based, fiat money system can only be revived and sustained by the combination of more debt creation and consumption. We have arrived at a critical point in history.

 

“It has been a common belief, ours included, that there are two alternatives, print more fiat money or risk a catastrophic global depression. A sane person will only choose the ‘print’ option that leads to the avoidance of an economic Armageddon, even if the effect is just temporary.

 

"But, what if this is a flawed scenario and set of assumptions? What if there is another path, and that path is to effectively crash the system? We all know that the accumulated and accrued obligations cannot be repaid and paid, respectively.

 

"We are in a destructive feedback loop in which new fiat money is created to pay for current and growing expenses, effectively creating even more obligations for future taxpayers. Individuals are told that other people will be taxed to pay for their entitlements when the reality is that they are creating future obligations for themselves.

 

"While not a prediction, it is wise to consider another alternative..."

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Will a Euro breakup boost gold and silver prices? | MINING.com

Will a Euro breakup boost gold and silver prices? | MINING.com | Gold and What Moves it. | Scoop.it

"Greek politicians are struggling to form a new government. Concerns are increasing that Greece will drop the euro.

 

"Last week we spoke about the upcoming election in France, where we saw a changing of the regime over the weekend. France's new socialist leader Francois Hollande is much more supportive of the European Central Bank intervening to boost the European economy by taxing the rich and industry. This is at odds with Angela Merkel of Germany, who faces a possible ousting herself as it is clear that austerity is not popular. At one point there was a strong partnership between France and Germany, but voters are choosing socialist means of taxing the rich rather than boosting industry like the Chinese and Russians. This may be destabilizing, causing investors to return to gold and silver as a hedge against a European currency on the brink of a possible crash.

 

"This means we may see a new round of euro uncertainty this summer, which could lead to the next leg higher in precious metals. While the Europeans may be selling their gold to raise capital, the Chinese are important gold at a record pace and are becoming the largest consumer. China's imports of gold have skyrocketed more than sixfold in the first quarter. China is realizing the need to increase its reserves and is on the record that it is on the search for natural resources worldwide..."

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How Much Is Your Coin Worth?

"The nickel is the one coin left in circulation that is worth more than its face value. Now is the time to begin hoarding nickels before their metal content is debased and they become worthless.”

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oftwominds-Charles Hugh Smith: The Kobayashi Maru Test and the Job Market

oftwominds-Charles Hugh Smith: The Kobayashi Maru Test and the Job Market | Gold and What Moves it. | Scoop.it

by Charles Hugh Smith:

 

"The conventional pathways in the job market aren’t working any longer; the alternative is to exit the no-win scenario.

 

"The Kobayashi Maru test of Star Trek fame is a classic no-win situation. Star Fleet Academy students are given command in a no-win scenario: either ignore a distress call of a Federation ship inside the Klingon (enemy) zone or enter the zone on a doomed rescue mission and lose your own ship in a hopeless battle against vastly superior forces.

 

"Captain Kirk evaded the no-win choices by reprogramming the computers to enable him to win. I think the job market can be profitably viewed as a Kobayashi Maru test: the conventional either/or choice--do something you dislike for job security or go to grad/law school for an advanced degree--is a false choice..."

 

{Got to love a Star Trek analogy}

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Millions Of Illegal Immigrants Are Using A Massive Scam To Get Much Bigger Tax Refunds Than You Are

Millions Of Illegal Immigrants Are Using A Massive Scam To Get Much Bigger Tax Refunds Than You Are | Gold and What Moves it. | Scoop.it

"Did you know that illegal immigrants all over the United States are using a massive scam to receive tax refunds from the federal government that are often in excess of $10,000? It is estimated that 2 million illegal immigrants are filing fraudulent tax returns each year and that they are pulling in more than 4 billion dollars in tax refunds every year that they are not entitled to. They are doing this by abusing the additional child tax credit and the IRS knows all about it and yet they refuse to do anything to stop it. Illegal immigrants are filing tax returns that sometimes claim 10 or 12 nieces and nephews as dependents, and most of the time those nieces and nephews do not even live in the United States..."

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Indian central bank challenged in court to repatriate country's gold | Gold Anti-Trust Action Committee

Indian central bank challenged in court to repatriate country's gold | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"A technocrat-turned-public interest litigant, Raghunath Shankar Kelkar, has challenged the Reserve Bank of India's move to deposit abroad 265.49 tonnes of gold out of its total stock of 557.75 tonnes by filing a public interest litigation in the Bombay High Court and has demanded that the precious metal be brought back into the country according to the provisions of the law.

 

"Kelkar, 56, who used to manufacture computers, has filed the petition as he found that the move by the central bank contradicts Section 33(5) of Reserve Bank of India Act of 1934, which stipulates that 85 per cent of the bank's gold reserves should be kept in India...."

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Bernanke Warns Of Potential Problems With Community Banks

Bernanke Warns Of Potential Problems With Community Banks | Gold and What Moves it. | Scoop.it

By ELEAZAR DAVID MELÉNDEZ 

 

"Federal Reserve Chairman Ben Bernanke, speaking on Thursday via teleconference to a Chicago bankers' conference, took an uncharacteristic swipe at community banks, suggesting that those institutions might not be as sure-footed as their balance sheets would have them appear.

 

"While standard measures of community banks' profitability, such as return on equity and assets, improved last year, as was also true at larger institutions, most of the gains were due to reductions in loan loss provisions rather than to more sustainable sources of profit, such as expanded lending," Bernanke said.

 

"The comment stood out in a speech otherwise focused on the country's financial system being in recovery. While noting that "banks still have more to do to restore their health and adapt to the post-crisis regulatory and economic environment," the Fed chairman pointed out how stabilization in non-mortgage lending and rising asset prices meant the business landscape for banks had "improved significantly in the past few years..."

 

{It's not enough for him to tell you gold is useless (while CB's are hoarding it) but now he's telling you that community banks who aren't into risky trading aren't all that great either? Wow. What do you think this man's game plan is?}

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Gold ‘Will Go To 3,000 Dollars Per Ounce’ - Rosenberg | ZeroHedge

Gold ‘Will Go To 3,000 Dollars Per Ounce’ - Rosenberg | ZeroHedge | Gold and What Moves it. | Scoop.it

by Tyler Durden:

 

"A close below $1,580/oz could see gold test support at $1,523/oz and $1,533/oz – the lows in December and September 2011 respectively.

 

"Gold fell after shares in Asia were hit by JPMorgan's massive $2 billion loss, political turmoil in the euro zone and also by weak economic data from China. The JP Morgan loss may be higher than $2 billion and could lead to sharper sell offs in markets which could lead to further gold weakness.

 

"However, the JP Morgan loss is gold positive as it shows how little reform there has been of Wall Street and the global financial system which continues to resemble a casino. It also shows that systemic risk remains..."

 

Click over to read Rosenberg's take on Gold.

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Twitter / Reinman_MT: Inevitable. RT @edwardnh: ...

Twitter / Reinman_MT: Inevitable. RT @edwardnh: ... | Gold and What Moves it. | Scoop.it
Inevitable.RT @edwardnh: Banks prepare for the return of the drachma | Reuters http://t.co/tfy3qxQs...
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MSM and MOPE on the French/Greek elections « Jim Sinclair's Mineset

by Jim Sinclair:

 

"Confusion is the net effect of MSM and MOPE on the French/Greek elections. However there is one point you can take home. The application of austerity will be blamed for the upcoming recession in Western world finance so you can be sure QE to infinity, which is debt monetization on steroids, is coming here and there.

 

"Be patient and stay the course."

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Precious Metals Monitor: China’s Surging Demand For Gold Reduces Its Safe-Haven Status, Prices To Test $1533

Precious Metals Monitor: China’s Surging Demand For Gold Reduces Its Safe-Haven Status, Prices To Test $1533 | Gold and What Moves it. | Scoop.it

by Sumit Roy:

 

"...One might think that these two pieces of bullish news from China and India would give a boost to gold, which up until now had been stuck in a lackluster trading range. But in typical (counterintuitive) market fashion, prices actually tumbled.

 

"The primary catalyst for the drop is fairly straightforward: Risk assets across the financial markets have been facing selling pressure in recent sessions amid economic concerns in the U.S. and sovereign debt concerns in Europe.

 

"Since September of last year, gold and the rest of the precious metals complex have exhibited a strong correlation with other risk assets, such as stocks and commodities; thus, this latest correction is not surprising in that context.

 

"In fact, the latest news from China may actually be exacerbating the selling. The gold market is becoming increasingly reliant on buying from the Asian giant, which in turn depends on China’s economic growth..." 

 

{Sounds counterintuitive? Maybe but ask yourself what this means long term}

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THE ART OF MONEY (three lessons to teach your children) | The Prospector Blog

THE ART OF MONEY (three lessons to teach your children) | The Prospector Blog | Gold and What Moves it. | Scoop.it

"Do you want the best for your children? Of course you do, this is why you work hard and worry about their well-being. Today I want to share three necessary steps that will empower your children for their lifetime. The art of money need not be complex or confusing. The understanding of silver and gold need not be complex or confusing. Our world is at a critical stage from a lack of money knowledge and the derived compromise this causes. Your family, your children need not be part of either.

 

"Regardless if you like it or not your children are part of a debt based system (economy). They are told, at a young age, to borrow money for education, a home, a car, even a tropical vacation. If not told then led, maybe by your example, to perceive debt as a necessary part of a complete life.

 

"Just for fun make a mental list of organizations in your life depended on debt.

 

"Your community (most likely since only four states are debt free). Your employer. Your country. Your school system. Your state. Your church. Your neighbors. You..."

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