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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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Spain first stole it from Peru and now steals it from salvagers | Gold Anti-Trust Action Committee

Spain first stole it from Peru and now steals it from salvagers | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

{Sad to see this.}

 

"The U.S. Supreme Court on Thursday declined to hear an emergency application for a stay filed by a Florida deep-sea salvage company that wanted to maintain possession of a half billion dollars worth of gold and silver coins until a final decision is made about who owns them.

 

"Spain has now been victorious at every level in the United States courts, from Tampa to Atlanta to Washington," said Jim Goold, who defended Spain's claim to the treasure. "I am pleased and proud for all of us."

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Fed audit should cover gold 'shenanigans,' Paul tells GoldSeek Radio | Gold Anti-Trust Action Committee

Fed audit should cover gold 'shenanigans,' Paul tells GoldSeek Radio | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"Presidential candidate and U.S. Rep. Ron Paul tells GoldSeek Radio's Chris Waltzek that an audit of the Federal Reserve must include gold and that he wouldn't be surprised if "shenanigans" have been going on surreptitiously for market intervention."

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The Greek Protesters May Be Right; For Now, Austerity Is Bad Economics

The Greek Protesters May Be Right; For Now, Austerity Is Bad Economics | Gold and What Moves it. | Scoop.it
In country after country in Europe the so-called bitter pill approach has been wholeheartedly embraced as the only solution by both conservative and leftwing governments.

 

"In country after country in Europe, where recession has slowed industrial and service sector output and unemployment and falling housing prices have crimped consumer spending, deep cuts in public programs and tax increases to bolster revenue - the so-called bitter pill approach - has been wholeheartedly embraced as the only solution by both conservative and leftwing governments. Problem is, it's looking more and more likely that they're wrong: as a strategy, austerity has by and large failed."

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Point Out The Housing Recovery On This Chart | ZeroHedge

No this is not a trick question... well maybe a little.

 

More evidence that the housing market is not improving. That's in spite of the spin coming out of MSM and the general DC elitiest area.

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Nigel Farage - Greece Descending into Total Chaos & Violence

Nigel Farage - Greece Descending into Total Chaos & Violence | Gold and What Moves it. | Scoop.it

With the situation in Greece becoming extraordinarily dangerous, today Nigel Farage told King World News that Greece is nearing a full blown revolution. He also said a former distinguished Greek Ambassador is telling him that people with assets are now buying rifles and preparing to defend their properties. Here is what Farage had to say about Greece descending into utter chaos: “I have spoken on this Greek subject repeatedly, and on the Sunday just gone it was a very dramatic day because the Parliament held a session to vote on whether they would accept the new bailout package. There were a couple of very interesting things that happened there. Before the vote took place there were 80,000 people on the streets, outside the Greek Parliament, basically attempting to storm the Parliament.”

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Why the Foreclosure Deal May Not Be So Hot After All | Matt Taibbi | Rolling Stone

Why the Foreclosure Deal May Not Be So Hot After All | Matt Taibbi | Rolling Stone | Gold and What Moves it. | Scoop.it

Matt Taibbi:

 

"So the foreclosure settlement is through.

 

"A few weeks back, I was optimistic about it – I had been worried that it was going to contain broad liability waivers for all sorts of activities, and I was pleasantly surprised when I heard that its scope had essentially been narrowed to robosigning offenses.

However, now that the settlement is finalized, and I've had time to think about it and talk to people who know far more than I do about this, I'm feeling pretty queasy.

 

"It feels an awful lot like what happened here is the nation's criminal justice honchos collectively realized that a thorough investigation of the problem would require resources they simply do not have, or are reluctant to deploy, and decided to accept a superficially face-saving peace offer rather than fight it out.

 

"So they settled the case in a way that reads in headlines like it's a bite out of the banks, but in fact is barely even that. There will be little in the way of real compensation for stuggling homeowners, and there are serious issues in the area of the deal's enforceability. In fact, about the only part of the deal we can be absolutely sure will be honored in full is the liability waiver for the robosigning offenses."

 

{glad to see someone else state what I've been stating since the deal was done.}

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Barron - This is Financial Armaggedon, Lehman x 1,000

Barron - This is Financial Armaggedon, Lehman x 1,000 | Gold and What Moves it. | Scoop.it

Keith Barron tells Eric King of King World News:

 

“There are basically three times the amount of bonds out there, existing in contracts, to insure those bonds. Now you have to remember that a lot of these contracts were signed when all of these bonds were considered AAA rated. People didn’t believe they would default.

 

"So their is huge exposure in these dangerous contracts. There was one contract I saw that was going to pay 500 to 1 for the loss. These things are incredibly toxic contracts confronting the system right now. We don’t know who the counterparties are, and in many cases it’s hypothecated two or three times and it’s something that’s worldwide.

 

"We are looking at financial Armageddon."

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Trader Dan's Market Views: Here we go Again...

Trader Dan's Market Views: Here we go Again... | Gold and What Moves it. | Scoop.it

Trader Dan:

 

"I wonder how history is going to record all of this madness. I just hope we all live long enough to be able to tell what it was like living through it and watching it unfold day by day and week by week. No one from the future will likely otherwise believe that a generation of humanity was this ignorant. On the other hand, maybe it is those of us who actually believe DEBT is generally something to be avoided unless it is carefully managed and respected who are the fools here and those who just shrug it off as nothing to be concerned about are the truly wise among us.

 

"Up is now down; down is now up; light is now darkness and darkness is now light; bitter is now sweet and sweet is now bitter. Welcome to the brave new world in which prosperity can be created by piling up massive loads of debt without the slightest bit of concern for how that debt will ever be repaid."

 

{I have to admit I've felt very much the same as Mr. Norcini, here. It has become insane, and insanity that seems to have seeped into the minds and souls of the American mind and hear that is terribly disturbing.}

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20 Things We Can Learn About The Future Of America From The Death Of Detroit

20 Things We Can Learn About The Future Of America From The Death Of Detroit | Gold and What Moves it. | Scoop.it
Do you want to know what the future of America is going to look like?

 

"#2 When the economy falls apart, desperate people will do desperate things and many homeowners will fight back. Justifiable homicide in Detroit rose by a staggering 79 percent during 2011."

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Eric De Groot: Standard of Livings Are Declining Across Most of the Western World

Eric De Groot: Standard of Livings Are Declining Across Most of the Western World | Gold and What Moves it. | Scoop.it

" *Gold-adjusted retail sales, or constant currency sales, have contracted year-over-year (YOY) since 2000. 2005 and 2007 saw brief periods of constant currency YOY gains, but they didn't last long.

" *Constant currency retail sales hasn't been able surpass a -10% contraction since 2008. This contraction rates sits like an anvil over spending.

 

" *Ever wonder why that trip to brick and mortar and/or online store produces that feeling of a loosing battle? The persistent decline in constant currency retail sales confirms our gut response that standard of livings are declining across most of the Western World."

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Make Gold Your Valentine | Stewart Thomson | Safehaven.com

Make Gold Your Valentine | Stewart Thomson | Safehaven.com | Gold and What Moves it. | Scoop.it

" #22: I'd prefer that you view this time of year as "gold on sale" season rather than "crash season" or "it's all over, so everything now!" season. Try to take a balanced view of both the gold market and dollar markets. View a declining price of gold as a tool to get more gold, and a rising price as a tool to get more dollars. If you are over-concerned about a declining gold price the simple fact is that you don't hold enough dollars as an asset to break the addiction to the view that a higher gold price makes you richer."

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FOFOA: India's Gold

FOFOA: India's Gold | Gold and What Moves it. | Scoop.it

1.2 billion people in India. 10 million weddings each year in India. Half of the gold bought in India is jewelry for weddings. In India, a family without gold is an "incomplete family."

 

Indian households save about 30% of their income compared to Americans who save about 5%.

 

The tradition that a bride's parents will give her gold is a financial burden to some families.

 

Gold is so important to the lives of Indians that the poor can now get financing for it.

 

The World Gold Council is funded by a group of mining companies. Its representative in India created the program to help India's poor buy gold.

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Jesse's Café Américain: Describing the Fraud Underlying the Financial Crisis So Even an Economist Can Understand It

Jesse's Café Américain: Describing the Fraud Underlying the Financial Crisis So Even an Economist Can Understand It | Gold and What Moves it. | Scoop.it

"William K. Black is one of the US' leading experts on financial fraud in general, and on banking fraud in particular.

 

"This is why you will rarely see him interviewed or even quoted in the mainstream media. And why he gains so little traction with the Congress and this Administration. He is an informed and honest voice, at a time when the status quo just does not want to hear it. They are caught in a credibility trap in which they can admit nothing, investigate nothing, without risking themselves and their 'good thing.'

 

"He has done an impressive but somewhat lengthy interview with Russ Roberts of EconTalk. It is very informative, but would have benefited tremendously from some judicious editing.

 

"I have to caution you in advance that it is somewhat lengthy, so it is best listened to when you have an extended quiet moment. Russ Roberts is a bright fellow, but in the first half he tends to interject himself quite a bit into the narrative, sometimes it seems not really listening well to what Wm. Black is saying. Perhaps he was having an ideaphoric day as do we all. I found it to be a little annoying at times. But he seems to calm down after a while.

 

"But the interview is really a gem, because it explodes so many economic myths and urban legends about the financial crisis. Efficient markets hypothesis and the virtues of self-regulation are a joke. I think most of us who are not wedded to some ideological belief already know that, but Mr. Black puts a stake in that theory's vampiric heart."

 

{I've got a lot to listen to today, so I don't know if I'll get around to this one but I wanted to highlight it so that I could return later. If you get a chance let me know if it's worth it. Jesse makes it sound rather intriguing.}

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Out-of-Work Britain: Unemployment Hits 17-year High of 2.67 Million

Out-of-Work Britain: Unemployment Hits 17-year High of 2.67 Million | Gold and What Moves it. | Scoop.it
UK unemployment figures rise by 48,000 to 17-year high of 2.67 million.
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Gold prices could "easily breach $2,000" - AngloGold

Gold prices could "easily breach $2,000" - AngloGold | Gold and What Moves it. | Scoop.it

"World gold prices could "easily poke through $2,000" an ounce this year, AngloGold Ashanti chief executive Mark Cutifani said on Wednesday."

 

They see it averaging between 1700 and 1850. That's a pretty safe range. I expect that it might go higher that. But that depends on how soon the breakout comes.}

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Growing Greek concerns give gold a lift

Growing Greek concerns give gold a lift | Gold and What Moves it. | Scoop.it

Author: Ben Traynor

"SPOT MARKET gold prices rose to $1732 per ounce Wednesday lunchtime in London, slightly above where they started the week, as European stock markets dipped amid ongoing uncertainty over Greece's second bailout.

 

"Silver prices tested $34 per ounce - 1% above last Friday's close.

 

"Critical support [for gold prices] is in the $1706 area and we would be bearish if this level fails to hold," says the latest technical analysis from bullion bank Scotia Mocatta.

 

"Resistance is last week's high around $1752."

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Exclusive: Clinton in talks about possible move to World Bank

Exclusive: Clinton in talks about possible move to World Bank | Gold and What Moves it. | Scoop.it
WASHINGTON (Reuters) - Secretary of State Hillary Clinton has been in discussions with the White House about leaving her job next year to become head of the World Bank, sources familiar with the discussions...

 

{Dare I say it? "Follow the money."}

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Trader Dan's Market Views: General Comments

Trader Dan's Market Views: General Comments | Gold and What Moves it. | Scoop.it

This little bit from Trader Dan says a lot:

 

"Bulls cannot take [gold] through resistance at this point but neither can the bears break it down. I happen to believe that the reason the latter cannot accomplish their intent is the reality of gold strength across a variety of other world currencies. Bluntly - the price of gold is holding in terms of all of the major currencies as savvy investors/traders are well aware of what the monetary authorities are doing to their respective currencies in order to keep the game of musical chairs, aka - the global economy - going."

 

{Click over for his analysis of the current goings on with some good graphs.}

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Jim Sinclair audio interview on King World News

Jim Sinclair audio interview on King World News | Gold and What Moves it. | Scoop.it

You should skip over to King World News and listen to the interview just posted with Jim Sinclair.

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Fitzwilson - The Entire Planet’s Financial System is at Stake

Fitzwilson - The Entire Planet’s Financial System is at Stake | Gold and What Moves it. | Scoop.it

"With gold, silver and stocks on the move, today King World News interviewed 40 year veteran, Robert Fitzwilson. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the Unites States. Fitzwilson told King World News this time around, versus the 1970s, the situation is orders of magnitude worse because it’s the entire planet’s financial system that is at stake. He also believes we will eventually see panic. Here is what he had to say about what is happening: “The system is structured for chaos. The average holding period on stocks, in mutual funds, has dropped from ten years to two months. People have become speculators, but they just need to get back to investing.”"

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TSA Forces Woman To Use Naked Body Scanner Three Times Because of “Cute” Figure

TSA Forces Woman To Use Naked Body Scanner Three Times Because of “Cute” Figure | Gold and What Moves it. | Scoop.it
Paul Joseph Watson | New legislation will force TSA to install "passenger advocates" at every airport.

 

{we are doomed.}

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Gold Video of the Day: Central Bank Gold Demand | Gold Information Center

Albert Cheng of the World Gold Council paints the picture.
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oftwominds-Charles Hugh Smith: It's Not Just Gasoline Consumption That's Tanking, It's All Energy

oftwominds-Charles Hugh Smith: It's Not Just Gasoline Consumption That's Tanking, It's All Energy | Gold and What Moves it. | Scoop.it

It's not just gasoline consumption that's declining--petroleum and electricity consumption are also dropping. Is that indicative of economic growth?

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The Golden Truth: An Economy That's Gone Off The Cliff

The Golden Truth: An Economy That's Gone Off The Cliff | Gold and What Moves it. | Scoop.it

"Why do I say the economy is in cliff-dive mode, despite the robust Government-reported economic data? Let's look at some real grass-roots data, unadjusted from seasonal adjustments, etc. First, take a look at retail gasoline deliveries: LINK

(click on graph to enlarge)

 

"You'll note the steady decline since 2006, consistent with our shrinking real, inflation-adjusted GDP figures. But then note the absolute free-fall starting in 2011. These numbers are in gallons and not affected by price. I think most would agree that gasoline sales are a pretty accurate reflection of the relative strength or weakness in the economy."

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