Gold and What Moves it.
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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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Indians charging up for tomorrow`s gold buying festival frenzy

Indians charging up for tomorrow`s gold buying festival frenzy | Gold and What Moves it. | Scoop.it

by Shivom Seth:

 

"The gold buying festival is on in India. Akshaya Tritiya, a day considered auspicious for buying the precious yellow metal has got both consumers and jewellers in a tizzy, with jewellers expecting a 25% increase in gold business in one single day and consumers scrambling to make up their mind over the varied discounts on offer.

 

"Average gold sales during the last three years have been around 40 and 42 tonnes in one day. Akshaya Tritiya, which means 'never diminishing', falls on April 24 this year, and is considered to be one of the four most auspicious days to bring the precious metal home. This year, in a run up to the festival, retailers are offering unheard of discounts and promotional offers to lure customers.

 

"We have had the three week strike against excise duties levied by the government in the Budget. We are leaving no stone unturned to ensure that the footfalls multiply tomorrow and that consumers can avail themselves of the choicest piece of jewellery or gold bar after the famine-like conditions that most have experienced,'' said Manish Jha, bullion trader in Mumbai."

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John Hathaway - 8 Key Charts, #Gold, Fed & The Big Picture

John Hathaway - 8 Key Charts, #Gold, Fed & The Big Picture | Gold and What Moves it. | Scoop.it

By John Hathaway, Tocqueville Asset Management L.P.

 

April 22 (King World News)

 

"During the first quarter of 2012, precious metals equities, as measured by the XAU index, declined 2.4% to 175.46, while gold bullion rose 6.7% to $1668.35. In our opinion, the first quarter consisted of an important test of the low made by the metal in December at $1522.65. Precious metals shares have been marking time during this testing phase. We previously commented that precious metals equities represented outstanding value at year end 2011. In light of first quarter action, the value proposition is, to us, even more compelling for precious metals shares.

 

"Discouraged investors must be asking what it will take for precious metals shares to break out of their extended funk. We believe that the catalyst will be a move to new highs by gold during the remainder of this year. While this assertion may seem simplistic, the shares have underperformed the metal for an extended period, despite record earnings, cash flow, and dividends. From a contrarian point of view, the stocks are table pounding buys unless the gold price plummets to levels substantially below that of December..."

 

Click over for the full article and charts.

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Pento - Markets to Plunge This Summer & Eurozone Effect

Pento - Markets to Plunge This Summer & Eurozone Effect | Gold and What Moves it. | Scoop.it

Michael Pento tells King World News:

 

“What investors have conveniently overlooked is the fact that 40% of S&P500 earnings are derived from foreign economies. And the seventeen countries that make up the Eurozone have collapsed into recession. That wouldn’t be so bad if EU (17) wasn’t the second biggest economy on the planet. Recent data points illustrate that the worsening recession in Europe will continue to bring down global GDP.

 

"CDS prices on 15 western European countries shot up 26% in the last month and Spanish banks now have over 8% of loans that are non-performing -- an 18 year high. European banks are keeping their governments afloat by loaning them money, which they in turn borrowed from the ECB. That cannot be a viable or sustainable situation. Many European economies will suffer massive inflation and sovereign default -- just as was the case in Greece -- within the next two years.

 

"But don’t rely on China to supplant falling demand from the Eurozone economies..."

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Awash in money and piles of debt

Awash in money and piles of debt | Gold and What Moves it. | Scoop.it
WASHINGTON (Reuters) - The amount of money thrown at rescuing the world economy since the Great Recession began is truly staggering, probably more than $14 trillion, and the financial spigots are still (Awash in money and piles of debt - Reuters

 

"The real solution has to do with the fiscal and structural reforms that address the real causes of this crisis, particularly in Europe, but also elsewhere," said Tharman Shanmugaratnam, Singapore's finance minister and head of the IMF's steering committee.

 

"The firewall is absolutely essential, but by itself it is not sufficient, and the real solutions require attention."

 

"In 2009, the IMF calculated that official rescue efforts totaled nearly $12 trillion, and since then the Fed and the ECB have pumped more cash into the economies they oversee..."

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In The News Today « Jim Sinclair's Mineset

On news that the IMF says it has received firm commitments of more than $430bn.

 

Jim Sinclair said:

 

"Locked and loaded. QE to infinity, which is debt monetization on steroids because you have no clue how terrible the wrath of the collapsed 2008-2009 OTC WMD derivatives still are. The collapse of 2013 – 2015 will be a horror to behold. The mortal sin of the FASB is that it remains deeply hidden from anyone’s view, being painted solvent by the blessing of the gatekeepers of auditing, the supposed soul of truth and transparency. Surely FASB will be damned as OTC WMD derivatives are not a victimless crime."

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Eric De Groot: Money Flowing Into Gold and Silver on Weakness

Eric De Groot: Money Flowing Into Gold and Silver on Weakness | Gold and What Moves it. | Scoop.it

Eric De Groot says: "Money has been flowing into silver and gold as they bounce along the bottom."

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Buying gold at discount | The Daily Gold

Buying gold at discount | The Daily Gold | Gold and What Moves it. | Scoop.it

by Will Bancroft:

 

"China has been trying to diversify her foreign exchange reserves for some time. We are all familiar with the figures released by the likes of the World Gold Council about Chinese gold investment demand, as well as statistics showing official gold imports through Hong Kong into the Chinese mainland. Chinese reserves contain only 2% gold, compared to nearly 10% for India and Russia, and figures in the 70th percentile for developed nations such as the USA and Germany.

 

"China is getting out of paper and into gold as fast as she can, because she simply doesn’t have enough of old yella’. Any effort to internationalise the RMB will not work until it is a trusted enough currency. One of the key ways to achieve trust is larger gold reserves.

 

"It is not just the PBOC that is on the gold rush, since opening up the domestic gold market individuals are also allowed to invest in gold. The Chinese still have a limited range of savings and investment options open to them (one of the reasons why so much money flowed into their property bubble), and gold continues to shine when other investment options (especially the Chinese stock market) are being questioned..."

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Twitter / Jim Rickards: Fact that #Fed is working ...

Fact that #Fed is working so hard on its communications strategy shows they're certainly lying. It takes almost no effort to tell the truth
Apr 20 via web Favorite Retweet Reply

Fact that #Fed is working so hard on its communications strategy shows they're certainly lying.
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Iran And India: A Tangled Web Of Oil And Geopolitics

Iran And India: A Tangled Web Of Oil And Geopolitics | Gold and What Moves it. | Scoop.it

"India and Iran have had a long relationship stretching back to ancient times. Iranian (or Persian) influence has produced a deep imprint upon Indian art, poetry, architecture and literature. With periodic invasions, military adventures and constant cross-migrations between the two empires, the people of Iran and northern India share many cultural and ethnic characteristics.

 

"In the 21st century, the relations between these two great nations must be framed along the lines of geo-politics and oil, rather than art and culture.

 

"Although India was greatly worried by the 1979 revolution in Iran that toppled the Shah and established an Islamic state, New Delhi and Teheran have generally enjoyed good relations. That tie became stronger with India's insatiable appetite for energy in tandem with western sanctions that have pressured Iran to find customers for its crucial oil exports.

 

"Indeed, India -which criticized the sanctions by the U.S., United Nations and European Union - recently became Iran's top oil buyer.

 

"However, there are complications - among other things, India is likely concerned about Iran's nuclear ambitions, despite New Delhi's rejection of western sanctions. The last thing India wants is a nuclear-armed Muslim state in its neighborhood (Pakistan in quite enough)..."

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Chris Martenson And Harvey Organ: Get Physical Gold & Silver | ZeroHedge

Submitted by Chris Martenson

 

"Harvey Organ has been analyzing the bullion markets closely for decades. The quality and accuracy of his work is respected enough to have earned him an invitation to testify before the CFTC on position limits for precious metals back in 2010.

 

"And he minces no words: gold and silver prices are suppressed. With extreme prejudice.

 

"In this detailed interview, Harvey explains to Chris the mechanics how of he sees this manipulation occurring, why he predicts this fraudulent pricing scheme will collapse soon, and why it's critical to be holding physical (vs paper) bullion when it does..."

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James Rickards on Central Banks Obsession with Gold and Why more QE is Imminent!

James Rickards on Central Banks Obsession with Gold and Why more QE is Imminent! | Gold and What Moves it. | Scoop.it

You'll have to click over for the videos:

 

Part 1 is focused on Gold manipulation and why gold plays such an important role in the world, even if conventional wisdom doesn't believe so, gold is not only being watched by central bankers, as Mr. Rickards put, "the gold price is being managed."

As most of you who are also GATA.org members know Bill Murphy is often quoted as calling it a "managed retreat."

 

Part 2 expands into the economy and probability of more quantitative easing (QE). According to Mr. Rickards, QE will come in the next few months because it can't be done this fall since it will look political, and if the FED tries to wait until December, it will be too late!

 

Hat tip to Ed Steer: http://www.caseyresearch.com/gsd/edition/jim-rickards-central-banks-rig-gold-market-ensure-orderly-rise

 

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How do you like your meat? - FT.com

How do you like your meat? - FT.com | Gold and What Moves it. | Scoop.it

Bioengineers in the Netherlands are now growing meat in a laboratory where the future of food is being prepared – in a Petri dish

 

{I always new it would come to this.} 

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Guest Post: Project “End Up Like Japan” Continues To Advance Well In The West | ZeroHedge

Guest Post: Project “End Up Like Japan” Continues To Advance Well In The West | ZeroHedge | Gold and What Moves it. | Scoop.it
Via Simon Black of Sovereign Man blog,[Editor's note: Tim Price, a frequent Sovereign Man contributor and Director of Investment at PFP Wealth Management in London, is filling in for Simon today.]

 

"Roy Ward Baker’s 1958 classic film A Night To Remember, recounts the final night of the RMS Titanic based on survivor interviews from Walter Lord’s 1955 book of the same name.

 

"One scene from the movie depicts a lounge in one of the upper class quarters of the ship as it slowly sinks beneath the waves. Notwithstanding the vessel listing alarmingly, a motley band of toff revelers are determined to go out in the finest style. Some continue to play at cards with a fatalistic resolve while others determinedly quaff spirits direct from the bottle.

 

"Having considered for some time the most appropriate metaphor for the current market environment, we think this may be it: one may be doomed, but one can still party on..."

 

Great analogy. click over for the rest.

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The Hidden Role of Gold at the IMF - Economic Intelligence (usnews.com)

The Hidden Role of Gold at the IMF - Economic Intelligence (usnews.com) | Gold and What Moves it. | Scoop.it

James G. Rickards:

 

"Despite decades of disparagement by mainstream economists gold is still the hidden hand of international finance. This is something that no finance minister or central banker will admit publicly because the implications for the leveraged paper money world are daunting..."

 

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

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Dollar Coins Save The Government Money Because You'll Just ...

Dollar Coins Save The Government Money Because You'll Just ... | Gold and What Moves it. | Scoop.it
Here at The Consumerist, we have a long-standing anti-penny stance, but we're somewhat in favor of the gold-colored dollar coins. They're shiny! The Sacagawea ones have a woman on them! They save the government ...

 

Interesting short read on US coinage.

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Ford developing way to make car parts from cash

Ford developing way to make car parts from cash | Gold and What Moves it. | Scoop.it
Ford is looking to put a new twist on the term \"old money.\" The automaker may add old, shredded, out-of-circulation U.S paper currency to its list of...
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Everything Is Not Coming Up Roses - TrimTabs Money Blog | TrimTabs Money Blog

Everything Is Not Coming Up Roses - TrimTabs Money Blog | TrimTabs Money Blog | Gold and What Moves it. | Scoop.it
By Dan Dorfman Dorfman

 

“Illusion is a dangerous thing,” wrote Ralph Waldo Emerson.

 

"The nation’s ebullient stock players might well want to give that quote some meaningful thought since they unknowingly could be afflicted with an equally dangerous dose of economic illusion, some economy watchers suggest.

 

"That’s a reference to the Street’s swelling belief that U.S. economy is all but officially out of the woods, that its increasing vigor is a harbinger of rosier economic times ahead, likely accompanied by a final bottoming of the beaten-up job and housing markets in the not-too-distant future.

 

"Sounds good and obviously a lot of investors, especially those at the institutional level, are swallowing the happy-economic-days-are-here-again scenario. Hook, line and sinker..."

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They Wrecked Our Mowers

They Wrecked Our Mowers | Gold and What Moves it. | Scoop.it

by Jeffery Tucker:

 

"When I was a kid, lawn mowers worked. You pushed them and they cut grass. The grass went into the bag. Then you emptied the bag. The results were great. There was no grass to rake. It all went into the bag, because that’s what lawn mowers did.

 

"Then the feds got involved. Or so I now gather. I didn’t know this for a long time. Every time I would buy a mower, I would be disappointed in the results. I kept buying mowers with ever-larger engines. Then I would buy them with different bag designs, and then a different brands, and then different features. Nothing worked.

 

"The problem was always the same. I would mow and most of the grass would go in the catcher. But some didn’t. Some landed on the lawn in a line. When the grass was wet, it left an even bigger trail. Or when I would go from the grass to the sidewalk, a big clump would fall out from underneath the mower onto the sidewalk, requiring that I get a broom and sweep it up. Then I would have to empty the bag long before it was full.

 

"It took me many years of thinking to figure out the problem..."

 

Interesting read about government regulations and the effect.

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One Nation Under Debt With Endless Debt Slavery For All

One Nation Under Debt With Endless Debt Slavery For All | Gold and What Moves it. | Scoop.it

"Debt is a "soft" form of slavery. In America today, it is not legal to bind people up with chains and force them to work for you, but that doesn't mean that there are not millions upon millions of slaves in this country. When you borrow money, you willingly become a servant to the lender. Sadly, there are millions of Americans that will spend the rest of their lives working to pay off their debts but they will never escape the endless debt slavery that they have gotten themselves into. When you add up all forms of debt in the United States at this point, it comes to more than 54 trillion dollars. That is more than $178,000 for every man, woman and child in America. We truly are one nation under debt, and we have created the biggest debt bubble in the history of the planet. Unfortunately, all debt bubbles eventually burst, and when this one bursts the consequences are going to be unlike anything ever seen before.

 

"When most Americans think of the "U.S. debt problem", they tend to only think of the U.S. national debt. Well, that certainly is horrifying, but it is only a small part of the overall problem.

 

"The chart posted below shows the growth of total debt in the United States over the last several decades. Total credit market debt owed was less than 5 trillion dollars back in 1980, but now it is over 54 trillion dollars...."

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Harvey Organ's - The Daily Gold and Silver Report: French elections tomorrow/Spanish and Italian 10 yr yields again rise/gold and silver hold

Harvey Organ's - The Daily Gold and Silver Report: French elections tomorrow/Spanish and Italian 10 yr yields again rise/gold and silver hold | Gold and What Moves it. | Scoop.it

"Conclusion: the players are vacating the comex (and you can visualize that in the lower OI)
I would say that this COT report should be considered neutral as the bankers still have intent to supply the necessary non backed paper gold. Demand for the paper gold is tempered courtesy of the CME thugs and their cohort regulators who blissfully watch and do nothing as the banks orchestrate massive raids with non backed paper."

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IMF Eyes BRICS To Meet $400B Fundraising Goal

IMF Eyes BRICS To Meet $400B Fundraising Goal | Gold and What Moves it. | Scoop.it

"The International Monetary Fund is eyeing Brazil, Russia, India, China and South Africa, a bloc of countries commonly known as BRICS, to meet a $400 billion fund-raising goal, set by the institution's managing director Christine Lagarde, so it can safeguard the global financial system against the euro zone sovereign debt crisis..."

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Who Is Lying: The Federal Reserve Or... The Federal Reserve? And Why Stalin "Lost" | ZeroHedge

When one thinks of the early 1950's, things that often come to mind are fries and milkshake, muscle cars, Little Richard, and greased hair.

 

"Because not only did the two veteran Fed chairmen warn against the state's incursion into central planning, but they explicitly said something which the Fed, or at least its modern versions, have rejected over and over, especially during congressional committees: that a build of bank reserves is the surest way to spark hyperinflation."

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Drone Use Takes Off on the Home Front

Drone Use Takes Off on the Home Front | Gold and What Moves it. | Scoop.it

by Andy Pasztor and John Emshwiller:

 

"The more than 50 institutions that received approvals to operate remotely piloted aircraft are more varied than many outsiders and privacy experts previously knew. They include not only agencies such as the Department of Homeland Security but also smaller ones such as the police departments in North Little Rock, Ark., and Ogden, Utah, as well the University of North Dakota and Nicholls State University in Louisiana.

 

"The information, released by the Electronic Frontier Foundation, came to light as the Federal Aviation Administration gears up to advance the widespread use of the drones. By the fall of 2015, Congress wants the agency to integrate remotely piloted aircraft throughout U.S. airspace..."

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