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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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Can You Answer 25 Difficult Questions That The Mainstream Media Does Not Seem To Have Answers To?

Can You Answer 25 Difficult Questions That The Mainstream Media Does Not Seem To Have Answers To? | Gold and What Moves it. | Scoop.it
The mainstream news just seems to get sillier and shallower with each passing day.  Our world is becoming incredibly unstable, corruption is everywhere, we are...

 

5 - Why are radiation levels in the rain falling in southern California five times above normal?

6 - The CDC is located in Atlanta, Georgia. A number of people down in Georgia have recently been attacked by flesh-eating bacteria. Is there any connection?

7 - Why is the EPA now using drones to spy on farmers in Nebraska and Iowa?

8 - Is the Obama administration actually going to take military action against Syria before the November election?

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Americans Spooked by Slump Cling to Jobs as U.S. Dynamism Fades

Americans Spooked by Slump Cling to Jobs as U.S. Dynamism Fades | Gold and What Moves it. | Scoop.it

This is definitely something to think about.

 

by Rich Miller, June 7 (Bloomberg) -- 

 

"Spooked by the severity of the recession and stuck with underwater home mortgages, Americans are less inclined to leave their jobs and less willing to strike out on their own to build businesses, government data show. Even with swelling profits, companies are holding back on hiring, complaining that they can't find skilled workers for positions they do have open.

 

"As a result, the labor market is losing some of the dynamism for which it's long been known. And the trend predates the recession: An aging population and the growth of two-income households have reduced Americans' mobility to about half of what it once was, while technological gains and globalization have led to a loss of middle-income jobs. The economic slump only exacerbated the loss of vigor.

 

"The U.S. labor market is becoming more sclerotic," said Harvard University Professor Lawrence Katz, a former chief economist at the U.S. Labor Department. "We're seeing less gross job creation and job destruction, and we have a major hollowing out of jobs in the middle."

 

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/06/07/bloomberg_articlesM4YQA21A74E901-M57V6.DTL#ixzz1x7d6fbEy

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The Criminal Banking Cartel's End Game: A 100% Digital Monetary System | ZeroHedge

There is no doubt that the elite have always sought to carefully manufacture news and to control the beliefs of the masses through their interests in funding education and in owning media distribution channels for centuries.

 

by smartknowledgeu:

 

"... Today, the media is making a deliberate push to condition the masses to an extremely dangerous idea of a cashless society – the end goal that the banking cartel wishes to impose upon the world in an effort to control and subjugate anyone that may dare have the guts to oppose any of their multitude of anti-humanitarian banking activities ..."

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Gold Standard, Gold Futures, and Perception Management — Midas Letter

by James West:

 

"The apparent end to momentum in the 12-year bull market in the gold price is a carefully coordinated exercise in perception management. J.P. Morgan and a handful of the world’s largest banks have been permitted the right to originate contracts for forward sales and purchases of various commodity products far in excess of what is produced of each commodity annually.

 

"There is seldom any delivery of physical metals, and the contracts are originated on completely false premises equivalent to a casino where every game is rigged in favour of the house. Thus, the effect of real
supply has been replaced by the effect of artificial supply.

 

"This represents a regulatory deficiency on the part of the Commodities Futures Trading Commission at minimum, and at worst, outright criminal fraud and collusion among the U.S. government, the banks, and the market operators themselves.

 

"CFTC Commissioner Bart Chilton has admitted on behalf of his agency that they are of the opinion that certain entities are engaged in manipulative and unlawful practices in the futures markets ..."

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Daily Show: Polish That Turd - Jobs Report

America suffers a fiscal kick in the balls after a disappointing jobs report.

 

Hat tip to Jim Sinclair http://www.jsmineset.com/ ;

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Industry Watch: Peter Grandich "Gold Will Take Out Its High From Last Year"

Click here for FREE newsletter: http://bit.ly/EKMNewsletter Al Korelin chats with Peter Grandich at the 2012 World Resource Investment Conference in Vancouve...
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UPDATE 1-China's CIC says cuts Europe market exposure-paper | Reuters

(Reuters) - China's $410 billion sovereign wealth fund China Investment Corp has cut its stock and bond investments in Europe as it sees rising risks of a euro zone breakup, the fund's chairman was quoted as saying in an interview published on Thursday.

 

Lou Jiwei was quoted as saying that China was also unlikely to buy common euro zone bonds, should they eventually be sold as part of a resolution of the European debt crisis, as "the risk is too big, and the return is too low".

 

Lou told the Wall Street Journal in an interview that "there is a risk that the euro zone may fall apart and that risk is rising." in remarks that marked the first time Beijing has publicly admitted to reducing investments in the financial markets of Europe, China's largest export market.

 

"Right now we find there is too much risk in Europe's public markets," Lou said. ...

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Gold Analysis 6 June 2012

by Anna Coulling"

 

"... With the gold price now consolidating in a relatively tight range between $1625 and $1614 gold traders now need to wait to see whether last Friday’s surge higher for gold is likely to be sustained or was simply a knee jerk reaction to the recent slew of appalling economic news."

 

click over for full analysis and chart.

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China Cuts Lending Rate as Its Economic Growth Slows

China Cuts Lending Rate as Its Economic Growth Slows | Gold and What Moves it. | Scoop.it

by Keith Bradsher

 

HONG KONG — "Faced with a sharply slowing economy, weak exports and faltering investment, China unexpectedly announced late Thursday that it would cut interest rates by a quarter of a percentage point.


"The action, by the People’s Bank of China, represents the strongest measure by the Chinese government to counteract an economic malaise that has infected Europe and the United States and now seems to be affecting China faster and more extensively than most policy makers or private economists had anticipated.

 

"Lowering interest rates makes it easier for companies and individuals to borrow money and start spending again. ..."

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Cyprus on financial brink from Greek exposure

Cyprus on financial brink from Greek exposure | Gold and What Moves it. | Scoop.it

Michele Kambas
Reuters

NICOSIA (Reuters) - "Cyprus is racing to meet an end-June deadline to pump 1.8 billion euros ($2.24 billion) into Cyprus Popular Bank - heavily exposed to Greek bonds - but will struggle to attract investors as long as the outcome of this month's election in Greece is unclear.

 

"The island nation's only other option is finding the money - about 10 percent of its economy - itself, raising the odds that it will become the fourth euro zone country to be bailed out after Ireland, Portugal and Greece.

 

"It is an increasingly familiar example of how quickly problems at just one bank can hurt government finances - even if in this case, the sector was profitable and well regulated, and had successfully raised capital in the past.

 

"Cypriot banks were pretty much OK all the way up to 2010. They were quite conservative, never lent more than their deposits and never invested in toxic assets. Then they lent money to the Greek government, and those assets became toxic," said Fiona Mullen, an economist at Sapienta Economics. ..."

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EU eyes new regime to cope with stricken banks

By John O’Donnell

 

BRUSSELS (Reuters) – "The European Commission proposed far-reaching powers for regulators to deal with failing banks on Wednesday, a step towards the banking union the European Central Bank and others are pushing for to secure the euro’s future.

 

"The proposal recommends closer coordination between countries and the granting of powers to force losses on the bondholders of failing banks to prevent a repeat of the chaos after the collapse of U.S. bank Lehman Brothers in 2008.

 

"But the legislation is unlikely to take effect before 2015, far too late for Spain, which could be forced to seek a bailout for its banks if it cannot refinance the lenders, which are saddled with bad property loans and other unperforming debt.

 

“The proposal we have today may be only useful for the future but it does not solve the current problems we face,” said Sharon Bowles, chair of the European Parliament’s economic and finance committee and one most influential officials in shaping banking regulation in Brussels.

 

“In the short term we need further measures. ...”

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Precious Metals Digest | More Really Good News for Gold

Precious Metals Digest | More Really Good News for Gold | Gold and What Moves it. | Scoop.it

by Precious Metals Digest:

 

"... We had a triple bottom in gold prices confirmed last week. Dating back to the lows of last September, gold looks like it’s forming a good base for its next move up. Gold has held on to a key support level around $1,530 an ounce, which is good news for gold bulls. ..."

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oftwominds-Charles Hugh Smith: Is Capitalism Incompatible with Democracy?

oftwominds-Charles Hugh Smith: Is Capitalism Incompatible with Democracy? | Gold and What Moves it. | Scoop.it

Another thing from Charles Hugh Smith worth a read:

 

"Failure and losses are the essential feedback in capitalism which clears the way for success and innovation. Eliminate losses and failure by changing the rules to protect either an Elite or the majority and you doom the system to collapse. ..." click over for the rest.

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The Great Escape: Suspected Corrupt Bureaucrats (And Their Billions) Flee China in Droves

The Great Escape: Suspected Corrupt Bureaucrats (And Their Billions) Flee China in Droves | Gold and What Moves it. | Scoop.it

By IBTIMES STAFF REPORTER

 

"News that China has a major corruption problem may not raise eyebrows anymore. But the sheer amount of money that's been illegally taken out of the country, and the number of corrupt government officials and civil servants who have fled, and are still fleeing the country, is staggering.

 

"If Chinese experts are correct, more than 16,000 corrupt officials have left China within the past two decades. The amount of money they may have absconded with is possibly more than 1 trillion yuan, or $158 billion. That's about as much as the U.S. government spent in the initial 2008 Economic Stimulus Act. Much of that money was likely skimmed from government accounts, public works projects, taken as bribes, or collected illegally and directly from citizens.

 

"Most of those allegedly criminal bureaucrats continue to reside abroad without much fear of being returned to China for prosecution. Many of them have chosen to set up comfortable new homes with their families in North America, using their ill-gotten capital to set up their own, close-knit residential communities. ..."

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Twitter / MonetaAdvisors: Gold sells off on no immed

Gold sells off on no immediate QE - you gold bulls are idiots all the conditions are there for a rise wo QE besides gold rose wo QE B4 QE
Jun 07 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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Kazakh central bank to boost gold holdings

Kazakh central bank to boost gold holdings | Gold and What Moves it. | Scoop.it

by Raushan Nurshayeva:

ASTANA (REUTERS) -

 

"Kazakhstan's central bank will increase the share of gold in its foreign exchange reserves to 15 percent from about 12 percent, it said on Thursday, a day after announcing plans to cut its holdings in the ailing euro by a sixth.

 

"The bank's deputy chairman, Bisengali Tadzhiyakov, told parliament it had signed contracts to buy 22 tonnes of gold - worth more that $1 billion at current prices - for its reserves from the domestic market. The central bank currently purchases all of the gold refined in Kazakhstan.

 

"Tadzhiyakov later told reporters that the central bank had built up its gold holdings as a proportion of its reserves to 12 percent from between 7 percent and 9 percent at the beginning of this year.

 

"World practice shows that holding up to 15 percent is what should be done, depending on the performance of the dollar and the euro," he said, without specifying a time frame for the proposed increase. ..."

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Ed Steer on yesterday's gold action

Ed Steer on yesterday's gold action | Gold and What Moves it. | Scoop.it

by Ed Steer on yesterday's gold action:

 

"Well, yesterday's price action in both metals certainly didn't pass the smell test as far as I was concerned. First, a falling dollar right in the middle of the New York trading session had no effect on the gold price at all...and then after the big decline in the dollar, both gold and silver got sold off hard in the thinly-traded electronic market.

 

"Yesterday's price action in gold took it comfortably above its 50-day moving average...and it was obvious that the technical funds were pouring back into the market...and it was just as obvious that 'da boyz' were there to meet them. Silver also came within two bits or so of taking out its 50-day moving average as well. It will be interesting to see if these current rallies will 'fail' to break through this barrier on this attempt. If the do, it certainly will have nothing to do with free-market forces. ..."

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Fed & ECB Petrified, This is Exactly What Will Trigger More QE

Fed & ECB Petrified, This is Exactly What Will Trigger More QE | Gold and What Moves it. | Scoop.it

With tremendous volatility in global markets, the question everyone wants to know the answer to is: When will we see QE3? Today Michael Pento told KWN he doesn’t think that “Banana Ben Bernanke is ready to push the panic button right now.” Pento, of Pento Portfolio Strategies, also told KWN readers exactly what five things to look for that will trigger QE3. Here is what Pento had to say about the situation: “Unfortunately, in Pavlovian fashion, investors have been taught that any time the market has a hiccup, that the Fed would come in there and rescue them. It happened with the housing crisis, and before that with the Nasdaq bubble.

 

“You have to remember that just a few weeks ago, we had surveys taken from CNBC saying that QE3 wasn’t even close to being on the table. Now, because we just had a non-farm payroll report which shows we just had a pitiful 69,000 jobs, and we lost 15,000 goods producing jobs, had the lowest factory orders in six months, now people are clamoring for QE3.

 

"I think QE3 is coming, Eric, I just doubt it’s coming in the next few weeks....

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The Treasury and the Fed are Robbing Savers - James Rickards

onference, available in CD and mp3 format. Casey Research's Chief Technology Investment Strategist, Alex Daley sits down with James Rickards, Senior Managing...
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Yamada - Gold & Silver at Crucial Points in This Cycle

Yamada - Gold & Silver at Crucial Points in This Cycle | Gold and What Moves it. | Scoop.it

Louise Yamada tells King World News:

 

"... there inevitably will be rallies (with or without short covering), and the move through 1,600 could carry up, as it did Friday (with the dollar pullback), toward the declining 10-week MA at 1,630, or even toward the broken 2008 uptrend in the 1,670 range. But unless the downtrend, roughly at 1,700 is sustainably penetrated, we would consider Gold to be continuing the corrective / consolidation process. Furthermore, the most important resistance remains at 1,800, the top of the former trading range. Between here and there remains consolidation in our view.

 

"We remain currently agnostic on Gold, given the current technical observations and the sudden
confusion causing a rush out of Euros and into dollars and treasuries. The break below 1,600 had suggested potential downside risk toward 1,500 (and even 1,400) where there is support from the 2010-2011 consolidation.

 

"It is not yet clear whether Friday’s advance is a kickback rally or the beginning of a complete reversal that could reinstate the uptrend. One day doesn’t make a trend but it can begin one. A reversal below the recent lows would suggest further work needed for Gold. ..."

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"...a slim reed on which to lean." - @JamesGRickards quote from Currency Wars worth thinking about.

Amazon.com: Currency Wars: The Making of the Next Global Crisis (Portfolio) eBook: James Rickards: Kindle Store...

 

I'm not sure why the price of this is showing at $26+. It's half that so disregard what this pic is showing. Even at $26 this book is worth it. 

 

Here's a quote from Rickards great book that given stuff going on of late, I couldn't help but share:

 

"Vulnerability to foreign creditors is now complete. In the face of any one of these crises - financial, natural or military - the United States would be forced to resort to emergency measures, as had FDR in 1933[,] and Nixon in 1971. Bank closings, gold seizures, import tariffs and capital controls would be on the table. America's infaturation with the Keynesian illusion has now resulted in U.S. power being an illusion. Yet given the course of events in the world, that seems a slim reed on which to lean."

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Gold And Silver Blast Off

Gold And Silver Blast Off | Gold and What Moves it. | Scoop.it
The world's central bankers are whirring into action.

 

"Big morning for the precious metals, as traders sense the world's central banks leaping into action.
Gold and silver are both making sharp up moves..."

Read more: http://www.businessinsider.com/gold-and-silver-go-wild-2012-6#ixzz1x2LgNZtJ

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Greek Euro Exit Still Not Fully Priced In - Deutsche Bank - Fox Business

Greek Euro Exit Still Not Fully Priced In - Deutsche Bank - Fox Business | Gold and What Moves it. | Scoop.it
Daily MailGreek Euro Exit Still Not Fully Priced In - Deutsche BankFox BusinessBy Eva Szalay Traders and investors are either not taking the possibility of Greece leaving the euro seriously or they doubt that such an event could shove the currency...
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A Central Banker Utters The Truth | ZeroHedge

Wolf Richter   www.testosteronepit.comOn

 

... “Speed is of the essence,” Asmussen said. The government attacked the deteriorating public finances, got the people to take ownership of the reforms, and “frontloaded” the toughest measures, rather than dragging things out and implementing half-measures. And it got them passed before “adjustment fatigue” wore people down.

 

“The bottom line is this: when adjustment is inevitable, it is better to take the medicine right away than to let the fever rise for months,” Asmussen said. Latvia demonstrated that an “expansionary contraction” isn’t an oxymoron. “Even if fiscal consolidation weighs on the growth prospects in the short term, it has sizeable positive effects in the medium to long term.”


"Austerity alone wouldn’t have been enough. The government also implemented “growth-enhancing structural reforms” to foster a policy environment favorable to “growth and wealth creation.” A bit tricky in face of vested interests. But critical mass overpowered them. “Education, health care, central administration: hardly any public sector category was spared by the reforms,” he said. People weren’t left to twist in the wind. Social safety measures were put in place, which helped gain support for the measures. So what made all this possible? A “broad consensus in society,” he said, “the key difference” between Latvia and Greece. ..."

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