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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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10.7 Percent: Unemployment In Europe Is Worse Than It Was At The Peak Of The Last Recession

10.7 Percent: Unemployment In Europe Is Worse Than It Was At The Peak Of The Last Recession | Gold and What Moves it. | Scoop.it

"The unemployment rate in the eurozone is now 10.7 percent. That is the highest the unemployment rate has been since the introduction of the euro. The unemployment rate in the eurozone never got any higher than 10.2 percent during the last recession. This is very troubling news. It was just recently announced that the eurozone has entered another recession, and already the unemployment rate is hitting new record highs. So how bad are things going to get in the months to come? The truth is that the problems for Europe are just starting. The European sovereign debt crisis continues to get worse, and another major global financial crisis is going to be here way too soon. The EU as a whole has a larger population, a larger banking system and more Fortune 500 companies than the United States does. When the financial system of Europe crashes, the entire world is going to feel it."

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Gold Video of the Day: Don't Trade Gold, Own It - Jim Cramer | Gold Information Center

Trading and investing are entirely different propositions.

 

{Is Cramer coming around?}

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The Two Economic Clutch Type Events Of This Period « Jim Sinclair's Mineset

Another must read from the desk of Jim Sinclair:

 

"The history of this period will focus attention on two economic clutch type events. These events will have mandated the need for the construction of a new monetary system utilizing a virtual reserve currency traded only by central banks. This reserve currency will be related to gold via a global Western world M3.

 

"An economic clutch type event is one that by its occurrence allows the world to shift gears and change into a new economic velocity and direction..."

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Fiat's Fire: Thursday's News In Brief- "Occupy The Planet" turns out 40 Million Workers In India As The Largest General Strike In History; Bank of America Considering New Account Fees On Checking A...

Fiat's Fire: Thursday's News In Brief- "Occupy The Planet" turns out 40 Million Workers In India As The Largest General Strike In History; Bank of America Considering New Account Fees On Checking A... | Gold and What Moves it. | Scoop.it

"Nothing helps lull the ignorant fools mindless carbons into slavery like cake, circuses and propaganda - and there's no better propaganda tool than the "stock indices" that flash all day for mom and pop on CNBS as they sit back and enjoy their short 5 years of retirement before they end up as fertilizer for the next generation's vegetable garden. The Dow at 13k makes everything seem like the roaring 2000's all over again, when Hummers were aplenty and McMansions were all the rage. Now, those gas guzzling Hummers and styrofoam McMansions are the cause of everyone's rage."

 

{I'm so glad to see Fiat's Fire back! }

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Tim Geithner Has His Blinders On: Steve Crawford

Tim Geithner Has His Blinders On: Steve Crawford | Gold and What Moves it. | Scoop.it
Treasury Secretary Tim Geithner’s op-ed has a lot of tongues wagging this morning.

 

"“First, the Fed had ample opportunity to regulate the banks and indeed had ample opportunity to restrict risk in the regulated bank sector,” explained Crawford.

 

“There are plenty examples of Fed officials downplaying the evident risks in the marketplace pre-crisis. In addition, there isn't a single Wall Street firm that would have ignored the Fed had they chosen to weigh in on their finances even before they had express powers to do so."

 

{Indeed the FED has in my opinion been complicit of so much of the fraud going on in big banking.}

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The Gold Bubble Debate And The Flash Crash In Gold

The Gold Bubble Debate And The Flash Crash In Gold | Gold and What Moves it. | Scoop.it
The flash crash in gold that occurred on Wednesday seemed to have as much logic behind it as the infamous stock market flash crash of May 6, 2010 when the Dow...

 

"There is also a very bullish aspect to gold's flash crash which has gone relatively unmentioned. For every seller there is a buyer and someone was more than happy to buy millions of ounces of gold at a discount. Discussing this bullish side of the gold smash down, Barry Stuppler of Mint State Gold asks "Who Bought The 34 Million Ounces of Gold?""

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Jim’s Mailbox « Jim Sinclair's Mineset

"Liquidity is driving the stock market higher. Spin citing the lack of visible inflation describes the force of this liquidity as a soft, babbling brook. Reality, however, is far different than perception. The force behind the trends in movable assets (stocks, gold, silver, etc.) compares to that of the Colorado River a few months after the first winter’s melt. Anyone that’s jumped unrestricted flow section of the Colorado River has an idea of the forces in play."

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Implats strike costs $322 million, 120,000 platinum ounces

Implats strike costs $322 million, 120,000 platinum ounces | Gold and What Moves it. | Scoop.it

"Impala Platinum said that a crippling illegal strike at its key Rustenburg operation has now cost it 120,000 ounces in lost platinum group metals production, which equates to 2.4 billion rand ($322 million) in lost revenue.

 

"Johan Theron, a senior executive at Implats, also told Reuters on Friday that the operation was still set to reboot next week as almost 15,000 mineworkers have been rehired, but it remained unclear when full production would resume.
"I don't know how long it will take to get back to steady state production," Theron said."

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Asia Buys Gold After Massive Single Trade Sell Off During Bernanke’s Testimony | ZeroHedge

Asia Buys Gold After Massive Single Trade Sell Off During Bernanke’s Testimony | ZeroHedge | Gold and What Moves it. | Scoop.it
From GoldCoreAsia Buys Gold After Massive Single Trade Sell Off During Bernanke’s TestimonyGold’s London AM fix this morning was USD 1,714.50, EUR 1,292.99, and GBP 1,076.14 per ounce.
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Billionaire Hugo Salinas Price - Central Banks Smashed Gold

Billionaire Hugo Salinas Price - Central Banks Smashed Gold | Gold and What Moves it. | Scoop.it

[M]ulti-billionaire Hugo Salinas Price told King World News that central banks were definitely behind the smash in the gold price yesterday.

 

“If I saw the price declining little by little, day after day, that would be a worrisome signal. That would mean the market is not anxious to acquire more gold or silver, but that’s not the case.

 

"As I said, when I see that kind of collapse in gold, I know it’s not the natural market doing that. Nobody getting rid of their gold and silver is going to dispose of it in that manner. They are going to do it little by little.

 

"This seller was definitely not interested in losses, what they were interested in was suppressing the price. What happened yesterday was insignificant from the point of the ongoing overrunning of the fiat money crowd.”

 

Hugo Salinas Price also stated: “Continue to acquire gold if you can afford it. If you can’t, continue to acquire silver and make sure you have physical possession. You can also invest in Sprott’s physical Trust, he has one that is trustworthy."

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John Williams - Horrendous Implications for Systemic Stability

John Williams - Horrendous Implications for Systemic Stability | Gold and What Moves it. | Scoop.it

John Williams just warned that current problems have horrendous implications for the markets. Williams, who founded ShadowStats, also noted that Bernanke continues to pay lip-service regarding inflation-containment. Here is what Williams had to say about the situation: “Recognition of an intensifying double-dip recession as well as an escalating inflation problem remains sporadic. The political system would like to see the issues disappear until after the election; the media does its best to avoid publicizing unhappy economic news; and the financial markets will do their best to avoid recognition of the problems for as long as possible, problems that have horrendous implications for the markets and for systemic stability.”

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Saving with Gold

Saving with Gold | Gold and What Moves it. | Scoop.it

"How can someone on a tight budget best get invested in silver and/or gold? I don't have a lot of savings, but I do not want to see them destroyed by more and more "quantitative easing".

 

"Seeing that I'd practically have to spend $2000 to get one ounce of gold, would silver be a better way to go? I know it's price is high too, but maybe more manageable for someone who isn't starting with a large initial investment.

 

"I've seen some things where you don't get actual silver or gold in your possession, but a certificate (or something like that) instead. Are these plans liable to leave investors defrauded or to have the actual metal confiscated by the government?"

 

{click over to see the answers. Some good suggestions, I think.}

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oftwominds-Charles Hugh Smith: If The Market Rolls Over Here....

oftwominds-Charles Hugh Smith: If The Market Rolls Over Here.... | Gold and What Moves it. | Scoop.it

Charles Hugh Smith: "If this rally runs out of steam, history suggests the next move down could plumb depths not seen in years.

 

"If the market rolls over here, the next bottom might be a lot lower than most players think possible. After all, the "news" is all positive: Europe's debt crisis is now resolved; employment in the U.S. is trending up, GDP is growing nicely, etc. etc. etc.

 

"As food for thought, here are two charts, courtesy of frequent contributor B.C., that suggest the good news might not only be priced in, but it might abruptly cease flowing."

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SmartKnowledgeU Discusses Gold & Silver Manipulation on the Keiser Report | The Underground Investor

SmartKnowledgeU Discusses Gold & Silver Manipulation on the Keiser Report...

 

JS Kim:

"If bullion banks were taking the opposite side of the bet and were net long gold and silver and were trying to squeeze speculators that were short gold and silver for their own benefit, then I would agree that the shorts could be run over and stampeded over, as happened to SemGroup in 2008. However, because the bullion banks perpetually maintain positions that suppress the price of gold and silver, I don’t ever foresee them getting run over in a manner comparable to what happened to Semgroup. And if, oh joy, the bullion banks’ shorts against gold and silver were run over, I’m not necessarily sure that they would choose to add longs to counter the losses of their shorts. Given the precedent we have from the MF Global fiasco, I could even foresee the bullion banks just defaulting on their short obligations and turning to the regulators that continually aid and abet (SEC, CFTC, et al) them to wipe their debt clean. I sure hope that this would not be the case, but no future criminal act of the banking cartel will astound or surprise me anymore." 

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Buffet, Berkshire and Gold

Buffet, Berkshire and Gold | Gold and What Moves it. | Scoop.it

"I'm getting calls to the Priced in Gold hotline, emails, questions from friends – all asking the same thing: "Have you seen the 2011 Berkshire Hathaway annual report and Warren Buffet's comments about gold?"

 

"On pages 17 to 19, Mr. Buffet outlines three big categories of investments and comments on each...

 

"The second broad category are non-productive assets such as commodities, and he uses gold as the poster-child for this asset class. Stored in a vault, these assets just sit there, doing nothing. As Mr. Buffet says, you can fondle them, but they will not respond...

 

"I understand (and mostly agree) with his comments on gold… but he hasn't looked at the investments he likes so much PRICED in gold. He doesn't realize just how much erosion of currency value there is these days – it is much worse than the government and mainstream economists he relies on will admit. So while he is correct that it is theoretically better to invest in companies that can create value and growth, that only makes sense when there is a positive growth climate and stable money… which is not where we are today! Someday, he will be right in spades; but for now, it is much better to be in cash (real cash, that can't be devalued by governments, that is to say GOLD, and maybe silver.)"

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Gold continues to drift down as fears of a test of $1500 surface

Gold continues to drift down as fears of a test of $1500 surface | Gold and What Moves it. | Scoop.it

"The U.S. dollar gold price fell to $1708 an ounce Friday lunchtime in London - a 0.9% drop on Friday's Asian session high - as stock and commodity markets also fell slightly amid ongoing uncertainty over the Greek bailout deal.

 

"Another move below $1690 will have the market refocusing back toward $1500," says the latest note from gold bullion dealing bank Scotia Mocatta's technical analysis team, referring to the low hit after Wednesday's $100 per ounce drop."

 

{What bear in his right mind fears a test of $1500? Are you kidding me? Don't they realize how many buyers are out there looking for a bargain like that?}

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oftwominds-Charles Hugh Smith: If This Is Such a Strong Economy, Why Does This Chart Look Recessionary?

oftwominds-Charles Hugh Smith: If This Is Such a Strong Economy, Why Does This Chart Look Recessionary? | Gold and What Moves it. | Scoop.it

"This chart utterly discredits the economics profession and those who claim that the post-industrial economy ("deindustrialization" and "financialization") is not oil-constrained and the service economy is what the rest of the world should adopt as the normative standard at $100+/barrel oil."

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Inflation: Not as low as you think - CBS News

Inflation: Not as low as you think - CBS News | Gold and What Moves it. | Scoop.it
Forget the modest 3.1 percent rise in the Consumer Price Index, the government's widely used measure of inflation. Everyday prices are up some 8 percent over the past year, according to the American Institute for Economic Research.
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Jesse's Café Américain: Corporate Psychopathy: An Interview With One of the Researchers of the Hare Project

Jesse's Café Américain: Corporate Psychopathy: An Interview With One of the Researchers of the Hare Project | Gold and What Moves it. | Scoop.it

"This interview was done by my friend 'Davos' who has agreed to post it here in addition to his own site, Psychopathic Economics 101.

 

"I had always felt that there was something not right, to a dangerous level, with one of the higher up bosses I had in a major division of a Fortune 100 company. Now there is little doubt in my mind that he was a psychopath..." {worth a read and listen}

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Why Gold and Why Now? | Gary Tanashian | Safehaven.com

Why Gold and Why Now? | Gary Tanashian | Safehaven.com | Gold and What Moves it. | Scoop.it
Well, what better time to publish a gold-bullish article than the day after the relic was down a hundred bucks? Here is an excerpt from NFTRH176 (2/26/12) illustrating the continuing case for gold, which probably has more ...
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Gold can still make new highs without QE springboard

Gold can still make new highs without QE springboard | Gold and What Moves it. | Scoop.it

LONDON (REUTERS) -

 

"Gold can still make new highs this year, even as the Federal Reserve shows no sign of continuing market-sweetening bond purchases and the European Central Bank hints it won't supply any more half-trillion euro sugar rushes.

 

"Gold lost nearly 5 percent on Wednesday in its biggest-one day fall since mid-December after Fed Chairman Ben Bernanke issued a downbeat assessment of the U.S. economy, but did not spell out that there would be more quantitative easing, the anchoring of bond yields through government debt purchases.

 

"The ECB, which has loaned over a trillion euros in two roughly equal-sized portions of low-rate, highly-attractive cheap cash to commercial banks to encourage lending and avert recession in the euro zone, has warned the financial sector not to get hooked on these offerings."

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Latest #gold buying and selling both look professional in nature

Latest #gold buying and selling both look professional in nature | Gold and What Moves it. | Scoop.it

Julian Phillips:

 

"Much has been written on why and how the gold price fell $100 late in New York. We now look at why it is holding at current levels and not bouncing right back.

 

"The selling was akin to panic selling much the same as when one is forcing the price down. The quiet time of gold day was chosen to unload around 31 tonnes, or a million ounces. It wasn't Iran, because they are not allowed to trade gold in New York, nor receive dollars for their sales. It is unlikely that any other central bank would have dumped so much at one shot on the market. They would have achieved better prices if they had dealt professionally. Any U.S. institutional dealer who dumped gold in this way is probably looking for another job this morning. Only an institution with a major, urgent liquidity problem would have done this, or someone who wanted the price much lower [probably to make his shorts profitable].


"But of more importance is the fact that the gold price is so steady at these lower levels, so far. There is no running in to get a bargain reflecting buyers with the competence and patience to buy what becomes available at the price, without bidding higher. This pattern is more institutional and is an opportunity for other emerging world central banks. As the price has stopped falling we assume that the gold sold has now moved into firm hands and out of the market."

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Infographic: Is Gold A Bubble? | ZeroHedge

Yes, another infographic, and yes, another answer (always the same) on whether gold is a bubble. 

 

{Great graphic. Pretty clear}

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Will the Market Ever Correct?

Will the Market Ever Correct? | Gold and What Moves it. | Scoop.it
There is no doubt in my mind that this is the calm before the storm.

 

Moses Kim on the stock market:

 

"If I had to hazard a guess, I would say that the market will move above 1400 before coming back down to earth. We may very well see a day soon when the market spikes higher, which in essence reflects short-sellers capitulating. This is when more aggressive traders should seriously look into buying long-dated puts.

 

"The dollar is most likely going to rally sharply before it collapses, and this is going to be brutal for stocks. Long-term it is correct to be bullish on U.S. stocks; however, in the short-term it is a dangerous game to play."

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Inflation Is A Tax And The Federal Reserve Is Taxing The Living Daylights Out Of Us

Inflation Is A Tax And The Federal Reserve Is Taxing The Living Daylights Out Of Us | Gold and What Moves it. | Scoop.it

"Ronald Reagan once famously declared that inflation is a tax, but sadly most Americans did not really grasp what he was talking about. If the American people truly understood what inflation was doing to them, they would be screaming bloody murder about monetary policy. Inflation is an especially insidious tax because it is not just a tax on your income for one year. It is a continual tax on every single dollar that you own. As your money sits in the bank, it is constantly losing value. Over time, the effects of inflation can be absolutely devastating. For example, if you put 100 dollars in the bank in 1970, those same dollars today would only have about 17 percent of the purchasing power that they did back then. In essence, you were hit by an 83 percent "inflation tax" and all you did was leave your money in the bank. So who is responsible for this? Well, the Federal Reserve controls monetary policy in the United States, and the inflationary monetary policy that the Fed has gotten all of us accustomed to is taxing the living daylights out of us. This is madness, and it needs to stop..." {I'll second that!}

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