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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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Twitter / Laura Gross: #Singapore Is Seeking To B ...

#Singapore Is Seeking To Be The Asian Bullion Hub With Tax Free #Gold And #Silver - http://t.co/So58lx2Z
Mar 14 via bitly Favorite Retweet Reply

#Singapore Is Seeking To Be The Asian Bullion Hub With Tax Free #Gold And #Silver - http://t.co/So58lx2Z...
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Jesse's Café Américain: Currency Wars: Are American Derivatives Dealers Leaving Europe?

Jesse's Café Américain: Currency Wars: Are American Derivatives Dealers Leaving Europe? | Gold and What Moves it. | Scoop.it

On Greg Smith leaving Goldman:

 

"Perhaps in addition to the anger he felt in the spoiled climate of his firm, Mr. Smith was also disgusted that the greed of Goldman had gotten their wings clipped, and gotten them effectively tossed off the continent. There is no more disgruntled employee than one who works hard, and see the foolish decisions of his management needlessly ruin it. I remember talking to traders and brokers in the 1970s who cursed the foolish greed of the higher ups that had driven the public from the markets and left them scratching for a living."

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Why Owning Gold Is Twice As Profitable As Stealing It

Why Owning Gold Is Twice As Profitable As Stealing It | Gold and What Moves it. | Scoop.it

"This new TV show is about 'the most daring heist Australia has ever seen', according to the ad. The story goes that three brothers manufactured a (fake) gold nugget and then fooled Alan Bond into paying more than double the true value for it. The nugget was known as 'the Yellow Rose of Texas', presumably because they claimed to have found the nugget near the Queensland town of Texas, where (although it has no bearing on this story) your editor nearly froze to death on a camping trip. Anyway, the three brothers then got framed for a robbery of the Perth Mint as well - a robbery of 68 kg of gold in the form of 49 gold bars.

 

"Now, according to Wikipedia, the value of the gold at the time of the mint swindle was $653,000. Not a bad heist. $653,000 in today's money, according to the Reserve Bank of Australia's surprisingly user-friendly inflation calculator, is $2.02 million - a difference of $1,367,000.

 

"And so we ask you, dear reader, which is the bigger heist? Stealing $653,000 worth of gold, or stealing $1,367,000 worth of purchasing power?..."

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China consolidates position as World No. 1 gold miner

China consolidates position as World No. 1 gold miner | Gold and What Moves it. | Scoop.it

Lawrence Williams:

 

"LONDON - The most recent figures from China's Ministry of Industry and Information Technology note that China, already the world's No. 1 gold miner since 2007, continued its dominance in world gold production with output rising last year by 5.89% to 360.95 tonnes. The most recent statistics also show that the country's gold mining sector continued to expand in January with a rise of about 3.69% from the same month a year ago, suggesting that we may well see further annual gold mine output growth in 2012.


"China's ever-increasing gold output though is still nowhere near the country's huge appetite for consuming gold which rose to perhaps some 800 tonnes in 2011, although such figures tend to be speculative in nature as the officially reported statistics may not show the true picture. There does seem to have been a fall-off in demand however at the end of last year and in the first two months of 2012 with official figures for imports through Hong Kong - the main import route - seeming to show a significant decline over the same period a year ago."

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Farage - Yes, Germany & Switzerland Want Their Gold Back

Farage - Yes, Germany & Switzerland Want Their Gold Back | Gold and What Moves it. | Scoop.it

Nigel Farage told Eric King of King World News:

 

“Gold and oil are the two dominant assets of our age. I think in some ways they are more dominant now than perhaps they have ever been. The instinct of countries like Germany and Switzerland is, yes, let’s get as much gold within our boundaries and within the vaults of our central banks as we possibly can.

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Words of wisdom from Jim Sinclair's Mineset

Jim Sinclair: "Look for the long term cash buyers of gold to defeat the lower estimates of price that you will hear blasting out of the top callers, bears and seekers of your subscription money.

 

"Pull the rock over your hole or go for a long walk. As always avoid margin like a disease."

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Us Gold Bulls Need The Hanson Bros. Gold $1,640 – Market, Economic, Social, Political and Life Commentary by Peter Grandich

Peter Grandich: "Since 2004, the gold market has witnessed occasional sharp sell-offs but all of them held the long-term uptrend line. Currently, it’s just above $1,600. Like before, it shall take days or even weeks before the uptrend resumes but it shall or my name is not Reggie Dunlop."

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This Could Spark a Massive Move in Gold

"Get ready for a golden summer.

 

"Precious metals have been selling off lately. Gold is down 10% from its peak last August, including a violent $100 drop last Tuesday. Silver is down almost 30% since its peak last April. It dropped 6% in just one day last week.

 

"But if gold and silver sell off hard today – perhaps in response to the Federal Open Market Committee announcement this afternoon – get ready to buy. A big drop today will set up a bullish chart pattern, which could lead to sharply higher prices by the summer.

"Let me explain..."

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Why I Am Leaving Goldman Sachs

Why I Am Leaving Goldman Sachs | Gold and What Moves it. | Scoop.it
An executive resigns from his position over an integrity problem too big to ignore.

 

Greg Smith

"TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it."

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Market Unsure How To Trade FOMC | ZeroHedge

Market Unsure How To Trade FOMC | ZeroHedge | Gold and What Moves it. | Scoop.it
It's nothing if not choppy. Treasuries are selling off now (having initially oscillated) and the initial 'upgrade' of the economy juiced stocks but that has been faded.
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oftwominds-Charles Hugh Smith: Four Charts of Interest on Fed-Speak Day

oftwominds-Charles Hugh Smith: Four Charts of Interest on Fed-Speak Day | Gold and What Moves it. | Scoop.it

From Charles Hugh Smith: "Here are four charts to ponder on Fed-Speak Day, the devotional time set aside to reassure us that all is well due to the god-like competence of the Federal Reserve. Let's start with a chart of M2 money supply, i.e. "Fed printing." Note that the "recovery" was so strong and self-sustaining in 2010 that the Fed had to goose money supply as frantically as it did in the global financial meltdown of 2008. We'd hate to see how much they'd have to print if we (gasp) ever had another recession...."

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Rule - $150 to $170 Oil, Gold, Fraud & Dangerous Times

Rule - $150 to $170 Oil, Gold, Fraud & Dangerous Times | Gold and What Moves it. | Scoop.it

With continued volatility in gold, silver and oil, today King World News interviewed Rick Rule, CEO of Sprott USA. Rule told KWN the world is out of $60 oil and maybe out of $70 oil. He also said the circumstances in Greece bring up the issue of moral hazard and the situation is extremely dangerous. Here is what Rule had to say: “I don’t know if it spins out of control, but it’s clearly fraud. Greece had an engineered default, which they chose not to call a default. This is just plain fraud and if you and I tried to do this, in the context of a private issue, we would go to jail. The fact that people who operate under a sovereign do it is very strange and very dangerous.”

 

{Fraud, indeed. And governments around the globe are engaging in it ever more, it would seem. Our own... cough MF Global... cough... is not immune.}

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WHAT WILL HAPPEN TO THE SILVER MARKET? | The Prospector Blog

WHAT WILL HAPPEN TO THE SILVER MARKET? | The Prospector Blog | Gold and What Moves it. | Scoop.it
TheProspectorSite.com exists to provide proof via current events and history that precious metals are one of the best ways to preserve and grow your wealth.

 

The Prospector answers this question from a European reader:

 

"QUESTION:
Hello, I am an European reader and I am very fond of your site ( found about it while reading dailyreckoning.com ). I have read your website from the beginning, started last month and only now got to March. It has been very enlightening but I never said anything up until now. I wanted to read the whole site so that I could have a grasp on what the global scene was month after month, since March last year, basically reading the gold/silver economy trend, trough your posts. I have now stepped up and registered at Bullionvault.com buying small amounts of silver."

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Zimbabwe's 2012 Gold Production Off To Slow Start - International Business Times

Zimbabwe's 2012 Gold Production Off To Slow Start - International Business Times | Gold and What Moves it. | Scoop.it

"The southern African country's gold mining sector is recovering from an economic crisis which peaked in 2008 as hyperinflation reached 500 billion percent and forced most mines to close.

 

"Gold production reached 8 tonnes in 2011, up from a low of just over 3 tonnes. But output remains well below the 27 tonnes obtained in 1999 before a decade-long economic slide.

 

""Gold output declined in February 2012 by 11.8 percent from January's output of 1,053kg. Cumulatively, gold output for the months of January and February has reached 1,981kg," the finance ministry said in an economic update."

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The Golden Truth: "I Am Just Following Orders"

The Golden Truth: "I Am Just Following Orders" | Gold and What Moves it. | Scoop.it

"The biggest farce of the week/month is the Fed's declaring that JP Morgan passed the stress tests and is allowed to buy back stock and pay dividends. How could the Fed have possibly even bothered to test JPM's enormous OTC derivatives book? Seriously. JPM has the biggest OTC derivatives exposure of any bank on the planet. There is no f-ing way in hell that the Fed can go on the assumption that JPM's OTC book is immune because of "netting."..."

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Guest Post: Money from Nothing - A Primer on Fake Wealth Creation and its Implications (Part 2) | ZeroHedge

Submitted by Zeus Yiamouyiannis from Of Two MindsMoney from Nothing - A Primer on Fake Wealth Creation and its Implications (Part 2)Only in a debt-based money system could debt be curiously cast as an asset.

 

"Only in a debt-based money system could debt be curiously cast as an asset. We’ve made “extend and pretend” a quaint phrase for a burgeoning market for financial lying and profiteering aimed toward preventing the collapse of a debt- (or lack-) based system that was already doomed by its initial design to collapse. This primer will detail the major components and basic evolution of fake wealth creation, accelerating debt expansion, hollowing out of the economy, and inevitable financial implosion."

 

{Debt is slavery. Don't forget that.}

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Ed Steer's Gold & Silver Daily "Why the gold stocks didn't sell off harder is a mystery."

Ed Steer's Gold & Silver Daily "Why the gold stocks didn't sell off harder is a mystery." | Gold and What Moves it. | Scoop.it
Both gold's 50 and 200-day moving averages were taken out with real authority yesterday...and gold closed below its 200-day moving average as well.

 

Ed Steer:


"Why the gold stocks didn't sell off harder is a mystery. After more than ten years of watching this sort of thing, I'm of two minds when I see counter-intuitive share price behavior on a big price decline: a] the bullish part of me says that someone is buying cheap shares because a huge rally in the gold price is just around the corner; b] the GATA/John Embry side of me sees 'da boyz' buying everything that's obviously falling of the table so they can build up their reserves to keep the HUI in check on days when it want to blow skyward..."

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Trader Dan's Market Views: Platinum regains its premium to Gold

Trader Dan's Market Views: Platinum regains its premium to Gold | Gold and What Moves it. | Scoop.it

Trader Dan: "If you notice however, platinum has been steadily gaining ground against gold as investors began anticipating Central Bank liquidity injections to deal with the pesky debt issues plaguing Europe, not to mention an ultra low interest rate environment which was intended to spur both borrowing and lending and by consequence, growth.

 

"It also did not hurt that a major strike in an important platinum mine popped up cutting off supply from the world market.

 

"This is another one of those combination indicators that can be used to gauge investor sentiment towards the global economy in general. As long as traders feel that there is little to fear as impediements to growth, they will bid this spread higher in favor of platinum."

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Embry - Gold & Silver Manipulation, Greece, Oil & Contagion

Embry - Gold & Silver Manipulation, Greece, Oil & Contagion | Gold and What Moves it. | Scoop.it

With continued volatility in gold and silver, oil holding above $106 and ongoing worries about the Greek CDS situation, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry told KWN contagion in Europe is a major risk because of the situation in Greece, but first he had this to say about gold, silver and oil: “Jim Sinclair hit it on the head the other day when he said the central banks are scared stiff of the gold market because of their very aggressive monetary policy. They can say anything they want, but they have no choice but to follow quantitative easing to infinity. The amount of money they will create will be astounding.

 

"Eventually the gold market is going to realize this and it’s going to go berserk, but in the meantime the central planners can use market manipulation to keep a lid on gold. I guess it’s discouraging in the short-run, but in the long-run it means nothing."

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Trader Dan's Market Views: Gold crashes through support at $1680

Trader Dan's Market Views: Gold crashes through support at $1680 | Gold and What Moves it. | Scoop.it

Trader Dan: "The result of this long liquidation has been a breach of a very important downside support level near $1680 on the charts. The market is holding within the support zone noted that extends down past this level but it will be critical to the metal to hold today's low and last week's low if it is to prevent a further bout of long liquidation that could very quickly take it down to $1620 or even lower."

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“INVESTING” OUR WAY INTO A DEPRESSION | The Prospector Blog

“INVESTING” OUR WAY INTO A DEPRESSION | The Prospector Blog | Gold and What Moves it. | Scoop.it

"It shocks me how easily the American people are now distracted while those in power toss what history will describe as an investing Hail Mary, but with less odds. This only proves that the line between optimism and denial is nearly washed away leaving only those skeptical to question investing trillions into programs and too big to fails, like this is our best odds for prosperity. Investing is beginning to look like the rich getting richer while the masses struggle to stay employed, regardless of new numbers. Make no mistake; this is only good news to those invested in gold, silver, and few other assets."

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Allysia Finley: Coffee Is an Essential Benefit Too

Allysia Finley: Coffee Is an Essential Benefit Too | Gold and What Moves it. | Scoop.it
In The Wall Street Journal, Allysia Finley lists some other health-care mandates that government should impose on employers.

 

{LOL}

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Taiwan bank made bonanza from gold purchases - CBS News

Taiwan bank made bonanza from gold purchases - CBS News | Gold and What Moves it. | Scoop.it

"TAIPEI, Taiwan — Taiwan's central bank governor says the bank has made a bonanza from gold purchases in 2008 but does not plan to buy more of what he calls a risky asset.

 

"Governor Perng Fai-nan said Monday that Taiwan has a policy to diversify its foreign reserves that now stand at $394 billion and does not plan to reduce its U.S. Treasury holdings to buy more gold." {Yeah, right. Don't believe it.}

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The Golden Truth: The Government Data Farce Continues

The Golden Truth: The Government Data Farce Continues | Gold and What Moves it. | Scoop.it

This whole, short, post is a must read. But here's a snippet:
 

"Nothwithstanding the fact that the massive growth in student loans is - in and of itself - quite horrifying, but you'll note that it looks like the so-called household "deleveraging" is coming to an end. In fact, as we've discussed in the past, the "deleveraging" was really the erasing - writing off - of credit card, auto and mortgage debt by the big banks. If your pour through the numbers in the report that I linked above, you'll see that a preponderance of spending took place in food and gasoline. These are necessities that people often use credit cards to purchase. Ergo, the growth in consumer credit. To the extent that retail sales are "growing," the "growth" is fueled by 1) inflation and 2) the purchasing of necessities on credit."

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Notes From Underground: Paging Dr.Bernanke … The Stress Tests Results Have Arrived

Notes From Underground: Paging Dr.Bernanke … The Stress Tests Results Have Arrived | Gold and What Moves it. | Scoop.it
Tuesday brings the release of the FED’S FOMC STATEMENT. Will it see its shadow or will the light be blocked by an extended period of darkness? Since the January 25 statement that announced ...

 

"***Last week it was noted that the Brazilian Central Bank lowered its lending rate by a larger percentage than forecast. Today, the Brazilian government extended its tax on foreign loans and bonds issued by local companies abroad and extended the duration out to five years.

 

"There is no question that the Brazilians are worried about the overly strong REAL and are trying to have a controlled depreciation to some level that will slow manufactured imports. As reported by BLOOMBERG, “President Dilma Rousseff pledged last week to take all necessary measures to protect Latin America’s biggest economy from what she dubbed a ‘monetary tsunami’ unleashed by rich nations seeking to devalue their currencies.”

 

"If the yield curve in Brazil continues to steepen it will signify that the Brazilian government, with the help of the central bank, is having an impact in weakening the currency and driving inflation expectations higher. The BANK has a great deal of work to do as Brazilian rates are still offering some of the most positive real returns in the world. Stay focused on this because it is an important indicator for the sensitivity of many of the G-20 nations. The media reports about all the camaraderie in the G-20, but Brazil’s latest concerns indicate there is far more dissonance than kumbaya hand holding..."

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