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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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World Food Prices Continue to Soar; Oils and Fats Prices Leap - UN

"World food prices have risen for the third straight month, driven by the increasing cost of global dietary staples oils, fats and cereals prices, according to the United Nations (UN) Food Price Index.

 

"The price index figure continues to edge towards its all-time high, as soaring fuel prices and low food supplies boost food price inflation.

 

"Among the various commodity groups, only oils prices showed strength, compensating for falling dairy quotations, while the indices of cereals, sugar and meat prices were largely unchanged from last month's level," said the UN Food and Agriculture Organisation (FAO), which compiles the monthly index.

 

"March's index figure for overall food prices is 215.9, up nearly one point on the previous month. The index peaked at 237.9 in February 2011, triggering violence and political unrest in parts of North Africa and the Middle East..."

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Corzined Marvell Muppets Sue Vampire Squid | ZeroHedge

Tyler Durden:

 

"Pay close attention because this could be a record-breaking amount of mauling ever attempted by the colossus of client care as Goldman shows it does not discriminate between millionaire and billionaire Muppets. In a bizarre story in CNN Money, we are told that two billionaire 'married' executives of Marvell Technologies - MRVL (no, not the comic book though that would be spectacular) are suing Goldman for what initially appears to be a straight-forward alleged fraud of unauthorized transfer of ownership of their MRVL shares to Goldman's internal fund to enable more borrow availability for shorts (1 Corzine-ing). But the story gets better. The executives, upon the advice of another Goldman broker were advised to take levered long positions in competitor NVDA's shares (which GS was allegedly selling out of its own book - 2 Corzine-ings) only to very rapidly face significant losses when the company missed and the stock dropped notably (3 Corzine-ings). Then, GS sends the MRVL execs margin calls on that position (4 Corzine-ings) and unwilling to accept the MRVL shares as collateral due to its low share price (5 Corzine-ings), forces the former MRVL executives to sell their MRVL shares (6 Corzine-ings) to meet cash calls - all the while remembering that GS had transferred the ownership in order that they could allegedly have more of this hard-to-borrow stock to short (7 Corzine-ings). What's more, the couple's suit alleges..." click through for the rest. It's amazing.

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Yamada - How to Score Big in Stocks, Gold, Silver & Oil

Yamada - How to Score Big in Stocks, Gold, Silver & Oil | Gold and What Moves it. | Scoop.it

When asked about gold specifically[King World News], Yamada responded, “Gold has to get through $1,800. $1,600 has to hold in the short-term. $1,550 to $1,600 is okay, but I wouldn’t like to see a move to the lower end of that range because your uptrend and support are coming in right now around $1,600.

 

"Gold has a horizontal consolidation in place. I was disappointed gold couldn’t break $1,800 previously, but again, sideways is okay. This sideways action is healthy, this consolidation, but gold now has to prove itself.”

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A new monetary system for emerging markets and the role gold could play

A new monetary system for emerging markets and the role gold could play | Gold and What Moves it. | Scoop.it

Good article by Julian Phillips. Here's a snippet:

 

"The collateral damage from this exercise embraced China, India and other nations, who were the customers of Iran. It has become clear to these nations that the power in the hands of the U.S. in oil matters is far too great for their future, and that they should be making plans to remove the impact of that power. If they are (China in particular) to be able to make their own decisions in the future -particularly on oil and currencies-then they must develop a monetary system that is independent of the U.S.


"However, this will mean that the world must move from a world united under the USD to one where there is a fragmented monetary system with at least two parts. This break demands a period where uncertainty, fear confrontation, and conditions generally detrimental to financial harmony must be endured until a new order is established. The potential for damage to the current monetary system is huge as it will be the one in decline while the new system is on the rise..."

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China`s ‘profound influence` on the world gold market

China`s ‘profound influence` on the world gold market | Gold and What Moves it. | Scoop.it

by Jeffrey Nichols:

 

"Analysis of the Chinese gold market suggests not only that the country's gold production and consumption are both far higher than figures suggest, but also that this gold will not find its way back on to the global marketplace..."

 

{I've been under this impression for several years now.}

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Fleckenstein - The Fed is Trapped, Stock Market & Gold

Fleckenstein - The Fed is Trapped, Stock Market & Gold | Gold and What Moves it. | Scoop.it

Today Bill Fleckenstein, President of Fleckenstein Capital, told King World News that the Fed is trapped and we may see a little panic in stocks. He also discussed the gold and silver smash, but first, here is what Fleckenstein had to say about what is happening in the markets: “We are going to get more money printing out of the Europeans. We got it out of the Japanese, the British, the Swiss, and somehow guys who want to buy stocks at 1,400 on the S&P all conclude that the Fed is going to stop easing.”

 

“I don’t understand how so many people who believe in Santa Claus, the Easter Bunny and Goldilocks can all be employed on Wall Street. I mean the stupid television, Bubble Vision and all of these knuckleheads, it’s just noise. It’s just crap that they make up because they have to say something in that moment in time.

 

"Anyway, it’s a frustrating period for most people, but the resolution to this, the consequences of money printing are going to be more inflation and the metals (gold and silver) are going to be a big beneficiary of that. For all I know, the decline that’s under way right now (in gold and silver) may stop (next) Tuesday.

 

"The stock market is, for the moment, the vehicle of choice for money printing to flow into...."

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The Golden Truth: Strictly A Rhetorical Question...

The Golden Truth: Strictly A Rhetorical Question... | Gold and What Moves it. | Scoop.it

Dave in Denver:

 

"How will the U.S. Government fund all of the additional budget deficit spending that has already been built into this year's spending plans if the Fed does not print money in some fashion in order to help finance all of the new Treasury debt issuance in 2012?

Before you answer this, you need to be aware, and you can use google to find the numerous sources of this data, from the time QE2 commenced until it ended the Fed directly or indirectly purchased over 100% of of all new Treasury debt issuance during that time period. In other words, it also paid for some of the refunding/rollover issuance...

 

"...I wanted to stop there today, but I came across this revealing blog piece from Felix Salmon. In terms of systemic liquidity and the question of whether or not the Fed will roll out QE3 (I think we all know the true answer to that), Salmon has a chart you have to look at which shows syndicated bank lending by quarter. Syndicated bank loans - which is the big corporate loan market - are starting to cliff dive. This means that corporations are not funding new projects AND that banks are not lending to new projects. To make this data even uglier, most of the syndicated lending that has occurred - 70% in fact - has been refinancing older, higher interest rate debt. Not only are the banks NOT providing liquidity to the corporate market, but only a small relative percentage of the lending is "new blood" lending." click through for the full blog entry from Dave.

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Game Changer for Gold and Stocks

Game Changer for Gold and Stocks | Gold and What Moves it. | Scoop.it

"I am not preaching to the converted however most if not all readers will know that the US banking system is in trouble as evidenced by QE1, QE2 and now suggestions of QE3. Governments would not offer or provide the monstrous bailouts and deposit guarantees unless this was the case. The European bank has also taken steps to prop up their banking system since 2008, with in excess of US$1.2T in new support in the past 4 months. This is a global phenomenon made necessary due to the gradual debt collapse, a deleveraging process that will persist for many years to come.

 

"This kicking of the can down the road is all about buying time for the financial institutions to repair their balance sheets. This expensive ‘time’ purchase is considered the only way out by governments that don’t want a collapse on their watch and because there has been a very real danger of a total collapse of the entire financial system. The counter party risk of this intricately linked system is highly dangerous thanks to the size of the debt, derivatives, credit default swaps and now the bond market bubble. This is all key to understanding what I am about to say about gold and how it fits..." click through for the rest.

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Silver Update 4/3/12 It's The FED Stupid

Software Provided By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx How to pro...

 

"It's the Federal Reserve that is behind the smash of metals"

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Penny Polemics and Pontifications

Penny Polemics and Pontifications | Gold and What Moves it. | Scoop.it

[ED. this post is by Chris Horlacher, TDV Correspondent]

"No sooner does the Canadian penny get axed, do the establishment chimps start flinging dung at the critics of this move. In the latest from the National Post, anyone criticizing the government’s decision to drop the penny is casually labeled a “crackpot”. This is pretty much par for the course when it comes to the defenders of the establishment; all they do is insult other people. Who are we, the lowly peasants, to question the decisions of our masters after all?

 

"Dropping the penny saves us money, they say. Does it? While it’s true that the cost of making a penny now exceeds its spending power, pontificating on why this is now the case is something we the public are apparently too stupid to engage in. Better to listen to the writers at establishment media organizations, who have never been caught off guard by an economic event, for our daily dose of economic truth.

 

"All of this reeks of a familiar stench though. In the late 1960’s the quarter and dime were ended in the de-facto sense. Those coins used to be made from 80% or more silver but after the price of silver began to exceed the face value of those coins they were quickly pulled from circulation and replaced by a nickel imposter. After it became too expensive even to use nickel then the government turned to steel in 1999 in order to continue creating what now amounted to little more than a casino token..." click through for the rest.

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FOMC minutes, Bernanke's road show, Obama's speech

Bernanke De-Bunked: http://www.youtube.com/watch?v=zdB9I79BQRI Pre-Order "The Real Crash" here: http://tinyurl.com/realcrash The Schiff Report -- April 3rd 2...
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Gold’s Critical Metric | Jeff Clark | Safehaven.com

Gold’s Critical Metric | Jeff Clark | Safehaven.com | Gold and What Moves it. | Scoop.it

by Jeff Clark:

 

"There are many reasons why gold is still our favorite investment – from inflation fears and sovereign debt concerns to deeper, systemic economic problems. But let's be honest: It's been rising for over 11 years now, and only the imprudent would fail to think about when the run might end.

 

"Is it time to start eyeing the exit? In a word, no. Here's why.

 

"There's one indicator that clearly signals we're still in the bull market – and further, that we can expect prices to continue to rise. That indicator is negative real interest rates.

 

"The real interest rate is simply the nominal rate minus inflation. For example, if you earn 4% on an interest-bearing investment and inflation is 2%, your real return is +2%. Conversely, if your investment earns 1% but inflation is 3%, your real rate is -2%..." click through for the rest.

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The Beginning of the End | Toby Connor | Safehaven.com

The Beginning of the End | Toby Connor | Safehaven.com | Gold and What Moves it. | Scoop.it
As convincing as this rally has been I am confident this is an ending phase and not the start a new secular bull market. Actually the bear market began last year in May but was temporarily aborted by massive Central Bank printing.

 

"Production figures from the U.S. Mint for March show a sharp increase in the sale of both gold and silver bullion coins from the previous month.
Total sales of the American Gold Eagle bullion coins increased in March to 62,500 ounces, up from 21,000 ounces in February. Total sales of the American Silver Eagle bullion coins totaled 2,542,000 ounces in March, up from 1,490,000 ounces in February. Sales of both bullion coins for the first quarter of 2012, however, declined from the prior year..."

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Downbeat UK, German Manufacturing Data Add To Recession Fears

Downbeat UK, German Manufacturing Data Add To Recession Fears | Gold and What Moves it. | Scoop.it
A pair of unexpectedly downbeat economic reports from Germany and the UK on Thursday added to fears of a recession in the euro zone and fueled doubts that manufacturing could power the region's economic recovery.

 

"German industrial output fell by 1.3 percent in February from the previous month, according to the Federal Statistical Office of Germany, undershooting the economists' consensus estimate of a 0.5 percent drop as compiled by Bloomberg News.

 

"January's previously reported gain of 1.6 percent was also revised down to an increase of 1.2 percent.

 

"Germany's construction plunged 17.1 percent while manufacturing production fell 0.4 percent, led by a 2.1 percent decline consumer goods output. The huge drop in construction was exacerbated by the unusually cold weather..."

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Meet The People Bringing You Currency Manipulation On A Daily Basis | ZeroHedge

Meet The People Bringing You Currency Manipulation On A Daily Basis | ZeroHedge | Gold and What Moves it. | Scoop.it

Tyler Durden:

 

"Today's aggressive intervention by various monetary authorities to prevent the Swiss Franc from trading anywhere close to its fair value (yes "intervention", the same that happens each day in other capital markets, like stocks and commodities, read gold) reminded us once again that it is always and only a central planner's world. Yet while it is easy to assume there is some big black box doing all this manipulation, the truth is that the decision chain ultimately ends with carbon-based lifeforms, who push the buy or sell button, respectively: i.e., the human element. Which is why we wanted to present our readers the decision making chain expressed in flesh and blood terms, namely the people who over and over demonstrate to the market just who is in control..." Click through for the list.

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Is this the end of the gold rush? Price drops along with stocks - Chicago Sun-Times

Is this the end of the gold rush? Price drops along with stocks - Chicago Sun-Times | Gold and What Moves it. | Scoop.it
The price of gold, which has climbed for years like a blood pressure reading for anxious investors, plunged Wednesday to its lowest level in three months. Gold fell almost $58 to $1,614 per ounce.

 

“It’s difficult to forecast, but I think the gold bull market is over,” said Cetin Ciner, a professor of finance at the University of North Carolina-Wilmington. He likened the surge in gold to dot-com stocks before they collapsed.

 

{LOL so funny when they go to "professors". keep it up bears. When they bash it like this gold most always shows them up.}

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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

Ed Steer on yesterday's gold action:

 

"As you already know, the trading volume and price action in the Far East on their Wednesday was comatose at best.

 

"That all changed the moment that the high-frequency trading began at the London open...and JPMorgan et al really worked the gold price over pretty good from that time onwards, with the low of the day coming at the precise moment that Comex trading closed in New York at 1:30 p.m. Eastern time.

 

"The gold price rallied a bit in the electronic trading session that followed, but wasn't allowed to get too far. Gold closed at $1,620.40 spot...down $25.40 on the day. Net volume was immense...around 190,000 contracts, so there was lots of spec long liquidation yesterday..."

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Trader Dan's Market Views: Today's comments

Trader Dan's Market Views: Today's comments | Gold and What Moves it. | Scoop.it

Trader Dan on gold:

 

"Gold is seeing a bit of buying across Asia this evening but the damage on the technical price charts has been done. We are now seeing hedge funds becoming active shorters of the Comex gold contract. They still remain net long (even with the liquidation) but a growing percentage of this category of traders is playing gold from the short side. This means that rallies are going to be sold UNLESS gold can clearly get back above $1680. A trip back towards $1660 will flush a few of the weaker handed shorts out but not until and unless gold proves that it has what it takes to stay above $1680 will some of the stronger shorts begin getting squeezed out..."

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Surgery now underway to transform citizens into subjects

Surgery now underway to transform citizens into subjects | Gold and What Moves it. | Scoop.it
Summary: The Founders hoped that America would be a beacon light of hope and liberty to the people of the world. And so we were for two centuries. But we’ve become an example of another kind,...

 

hat tip to http://twitter.com/mikecane

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Caesar Bryan - Gold & Silver Plunge, Europe in Continued Crisis

Caesar Bryan - Gold & Silver Plunge, Europe in Continued Crisis | Gold and What Moves it. | Scoop.it

Caesar Bryan tells King World News:

 

“Obviously, for those long of gold this action is very disappointing. You always have to go back to the fundamental reasons why you are holding gold and gold equities at times like this. The fact is the global economies are experiencing a very weak recovery, if at all, and the monetary authorities are still in an easy mode.

 

"All of this will work to gold’s advantage in the medium-term. At times like this, professionals will revisit why they are in this market and when they come to the conclusion that it makes sense, they will add to or at least maintain their positions.

 

"I have been doing this for a quarter of a century and I’ve discovered over time it’s a very easy sector for the weak hands to be shaken out...."

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Eric De Groot: The next leg of gold’s bull run

Eric De Groot: "An individual, group, or country (hint China) not seeking the label of dumb as a post is highly unlikely to announce their intentions to buy gold."

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THE PRICE OF PRECIOUS METAL INACTION! | The Prospector Blog

THE PRICE OF PRECIOUS METAL INACTION! | The Prospector Blog | Gold and What Moves it. | Scoop.it

"A common question from a PM (precious metal) Newbie is why more don’t see silver or gold as important enough to own. I believe the answer is because of behavioral inaction. I also believe a reversal someday soon will propel your stash of both silver and gold values far beyond what most can imagine.

 

"Average Americans view economic correction as past tense. Their mindset is the worst is behind us and recovery is upon us. This belief (behavioral inaction) certainly doesn’t prepare the masses for a realistic future, in fact, this belief doesn’t prepare the believers for anything but failure.

 

"Progression from today’s “do nothing” mentality to tomorrow’s “panic buying” point could be great news for you (assuming you own physical silver or gold) but can be devastating to the rest unprepared.

 

"Let me explain it this way. On this date one year ago gold’s price bounced around $1435 per ounce. On this date two years ago gold’s price was $1124 an ounce. Now many look at gold’s rise and quickly chop it up to yet another asset preparing to bubble. But this view holds little water and here is why. PM is not popular, only 1% even own PM other than a wedding ring or a few jewelry pieces. Also, PM is not a victim of easy credit like yesterday’s housing..."

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oftwominds-Charles Hugh Smith: Resistance, Revolution, Liberation: A Model for Positive Change

oftwominds-Charles Hugh Smith: Resistance, Revolution, Liberation: A Model for Positive Change | Gold and What Moves it. | Scoop.it

From Charles Hugh Smith: "Resistance, Revolution, Liberation: A Model for Positive Change" is now available in the Kindle eBook format.

 

"My summary of our unsustainable system and the pathway to a sustainable economy and society are laid out in my new book, Resistance, Revolution, Liberation: A Model for Positive Change.

 

"The book will be available in a print version later in April, but for now it is available as a Kindle eBook at about a 10% discount ($8.95) from the list price of $9.95 through April 6: Resistance, Revolution, Liberation"

 

{This will likely be a very good read}

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Was $12,000 A Restaurant Tip Or Drug Money?

Was $12,000 A Restaurant Tip Or Drug Money? | Gold and What Moves it. | Scoop.it
A waitress in Minnesota is suing after $12,000 was left at her restaurant table -- she says it was a tip but police say, it's drug money, according to The Forum.

 

"The waitress said she found bundled rolls of cash inside the box, totaling $12,000.

 

"She said even though she has five children and could use the money, she decided to call police, according to The Forum.

 

"Officers told the woman to wait 90 days in case someone claimed the money. The Forum reports that after three months, police told the woman the cash was being held as drug money..."

 

{our govenment at work.}

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BRICS Plan for the Future | John Browne | Safehaven.com

BRICS Plan for the Future | John Browne | Safehaven.com | Gold and What Moves it. | Scoop.it
Last week, the leaders of Brazil, Russia, India, China, and South Africa met in New Delhi for their fourth annual "BRICS" summit. The meeting brought together five countries that together represent 43 percent of the world's population ...

 

"If the BRICS countries continue to develop in the present trajectories, I believe that in five or ten years they will have the ability to fund their bank at levels that could challenge Western institutions (for why we think Indonesia should be included in the BRICS, see our latest global investor newsletter). If so, the duel between these international banks may be the arena where the world decides what sort of money it really prefers. The contenders will be the debased fiat money of the Anglo-American led debtor nations and a currency backed by the nations whose citizens are awash with savings and whose economies churn out needed goods..."

 

{I think it could happen in less time than John Browne therorizes.}

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