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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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The Silent Victims of the U.S.-China Currency War - Economic Intelligence (usnews.com)

The Silent Victims of the U.S.-China Currency War - Economic Intelligence (usnews.com) | Gold and What Moves it. | Scoop.it

By James G Rickards:

 

"Citizens everywhere should realize that competitive devaluations are not a path to prosperity—they are a path to ruin.

 

"Currency wars arise when a country steals growth from trading partners by cheapening its currency to promote exports. The new currency war began in 2010 when President Obama declared in his State of the Union address that it was the policy of the United States to double exports in five years. Since the United States would not become twice as productive in five years, the implication was that the United States would severely cheapen its currency to achieve this goal."

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Permanent Gold Backwardation - Casey Research

Permanent Gold Backwardation - Casey Research | Gold and What Moves it. | Scoop.it
David Galland checks in on his Happiness Meter, and Keith Weiner discusses gold backwardation and the future of fiat currencies.Gold is not officially recognized as the foundation of the financial system.

 

"Worldwide, an incredible tower of debt has been under construction since President Nixon's 1971 default on the gold obligations of the US government. His decree severed the redeemability of the dollar for gold and thus eliminated the extinguisher of debt. Debt has been growing exponentially everywhere since then. Debt is backed with debt, based on debt, dependent on debt and leveraged with yet more debt. For example, today it is possible to buy a bond (i.e., lend money) on margin (i.e., with borrowed money).

 

"The time is now fast approaching when all debt will be defaulted on. In our perverse monetary system, one party's debt is another's "money." A debtor's default will impact the creditor (who is usually also a debtor to yet other creditors), causing him to default, and so on. When this begins in earnest, it will wipe out the banking system and thus everyone's "money." The paper currencies will not survive this. We are seeing the early edges of it now in the euro, and it's anyone's guess when it will happen in Japan, though it seems long overdue already. Last of all, it will come to the USA."

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A Warning Flag For Silver

A Warning Flag For Silver | Gold and What Moves it. | Scoop.it

"As you know, I'm very excited about the prospects for the fiat-conversion price of silver this year. It's going to a big year, perhaps even historic. That does not mean, however, that silver will move in a straight line up. I still believe the The Evil Empire intends to dramatically lessen, if not eliminate, their long-time manipulative short position. However, a careful review of the situation at ground level leads me to think that we're not out of the woods yet." - Click over for the full analysis from TF Metals on silver.

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Is Small Business Doomed?

Is Small Business Doomed? | Gold and What Moves it. | Scoop.it
The American Express OPEN Forum reported that there was an 11 percent increase in the number of small businesses closing and a 17 percent decline in the number of small businesses opening.

 

{That's okay. The President and MSM says things are doing good.}

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Jesse's Café Américain: SP 500 Deflated By Gold

Jesse's Café Américain: SP 500 Deflated By Gold | Gold and What Moves it. | Scoop.it

Jesse continues to provide some of the best graphs. Here he compares the SP500 and Gold.

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Turk - Gold Panic Buying & Pulling Banks Back from the Brink

Turk - Gold Panic Buying & Pulling Banks Back from the Brink | Gold and What Moves it. | Scoop.it

With gold at $1,725 and silver near $34, today King World News interviewed James Turk out of Spain. Turk told King World News that even though the markets are quiet, the reality is we are getting very close to a “buying panic.” Turk also stated that deflation is not in the cards. Here is what Turk had to say about the situation: “We’re seeing a lot of smoke and mirrors here in Europe, Eric. The Greek Parliament approved the latest bailout program for that beleaguered country. They claim it will pull Greece back from the brink. The reality, however, is completely different. Greece is being subjected to onerous and heavy handed financial pressures from its creditors.”

 

“With its deteriorating economy, it is highly unlikely that the bailout money will accomplish anything worthwhile for Greece. The money will simply pass through Greek bank accounts and immediately out again to bail out the owners of Greek bonds. So, in reality, this really has nothing to do with Greece, it is simply designed to pull banks back from the brink.”

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Mesicek - We are Nearing the End of the Consolidation Phase

Mesicek - We are Nearing the End of the Consolidation Phase | Gold and What Moves it. | Scoop.it

Martin Mesicek tells King World News: 

 

“And as I said, the strong hands keep on buying, but the weak hands and the speculators, they have now been shaken out.

 

"The fact that the weak hands and speculators are liquidated, I take that as a bullish sign. I also think these people will reenter the market, but they will have to come back in at higher prices. All of this tells me it is still the strong and the smart money going into gold and silver."

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When the World’s Wealthiest Man Says a Really Silly Thing

"There is nothing like throwing over 6,000 years of history out the window with one statement. I call that silly. It’s even sillier when a man with the wealth of Warren Buffett says it, as he recently called physical gold a “valueless asset”. The UK Telegraph picked up the comment in reporting that Fortune Magazine had interviewed Mr. Buffett on this subject. Also from the UK Telegraph article, their writer Emma Wall wrote the following last Friday:

 

“Buffett's attack comes as private bank Coutts predicts that the gold price will hit "new highs" by the end of 2012. In a report from the bank, that counts the Queen among its clients, gold is confirmed as a "key asset in investment portfolios".

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Real Time Gold Prices | Exact Price of Gold | Lear Capital

Real Time Gold Prices | Exact Price of Gold | Lear Capital | Gold and What Moves it. | Scoop.it
Get real time gold prices updates even when you're on the move. Keep abreast of the precious metal market price with Lear Capital.

 

Looks like we're going into the weekend at $1,723.30 for gold. Silver is $33.61. And platinum is at $1,664.60.

 

I'm curious to see what next week will bring. 2012 is turning out to be interesting with all the stuff that's going around the globe. The fact that none of the fundamentals have changed and no one seems willing to address them says to me gold is going to reach new highs this year.

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#FedValentines Goes Viral on Twitter

#FedValentines Goes Viral on Twitter | Gold and What Moves it. | Scoop.it
Economically inclined Twitter users flocked to the hashtag #FedValentines on Friday, pairing references to the Federal Reserve with the romantic holiday, which arrives on Tuesday.

 

{LOL}

 

The sight of you fills me with irrational exuberance... #FedValentines — Michael McKee (@mckonomy) February 10, 2012

 

I'd like to borrow you overnight and then hold you to maturity #FedValentines — Alan Beattie (@alanbeattie) February 10, 2012

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Celente - Gold, Silver, War, Systemic Collapse & Social Unrest

Celente - Gold, Silver, War, Systemic Collapse & Social Unrest | Gold and What Moves it. | Scoop.it

Gerald Celente tells King World News: 

 

"When you pick up the news and you read the FBI warned this past Monday that people who believe that going off the gold standard has bankrupted America are now considered anti-government extremists, you know there is a lot of worry out there about more people buying gold and not believing in the US government.

 

"They want to do everything they can to drive fear into people, so they do not buy into gold and keep buying into worthless paper dollars. It’s a trend that I warned about. I’ve been saying over and over again, ‘Watch out, for some kind of Economic Martial Law, where it may become impossible for you to buy or sell gold.’ And it looks as though the government is moving in that direction."

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John Williams - The US Edges Closer to Collapse

John Williams - The US Edges Closer to Collapse | Gold and What Moves it. | Scoop.it

John Williams said to King World News: “At present, the underlying fundamentals could not be much worse for the U.S. dollar. Beyond trade, the key factors, relative to other major currencies, could not be much worse. Despite any political and financial hype in the markets, the U.S. economy is relatively weaker, interest rates are lower, inflation is higher and fiscal policy and political stability all are relatively much worse than are seen relative to the other major currencies."

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Gold’s Role During Periods Of Monetary Stress (A Review) « Jim Sinclair's Mineset

"Here is a review of the why of the gold price when push comes to shove.

 

"Gold always attempts to balance the international balance sheet of the USA as a function of price multiplied by the gold supposedly held.

 

"The subjective mind of the market is the means to the end from the beginning of written history and before gold functioned as a money based standard of value and measure."

 

{Click over to read all of Jim Sinclair's post on this}

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nice summation of things going on today around this little blue marble

nice summation of things going on today around this little blue marble | Gold and What Moves it. | Scoop.it

"The world is in turmoil but you'd never know it by looking at PM prices. Athens is burning. Civil War in Syria with Russia on one side and the U.S (and Al-Qaeda) on the other. Israel is killing Iranian nuclear scientists and Iran is attacking Israeli diplomats while the U.S prepares forces for the likely event of war. Stocks in America are up almost 20% over the past 6 weeks, all on the back of a falling unemployment rate that was statistically manufactured from whole cloth by bureaucrats at the BLS and a a surge in price by a company (Apple) which now constitutes about 25% of the NASDAQ. It's all so surreal that it's difficult to coherently comment so I'm going to keep this somewhat brief."

 

{Very nice summation of things going on today around this little blue marble we spin around the universe on.}

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Two Charts On The European Growth Dilemma | ZeroHedge

Two Charts On The European Growth Dilemma | ZeroHedge | Gold and What Moves it. | Scoop.it
As the Germans ponder the truthiness of Greece's planned austerity measures it will perhaps come as a shock to many that since the start of the Euro (Dec 1998), Greece (followed closely by Spain and Ireland) has experienced the highest nominal GDP...

 

"The problem - over-levered and exchange-rate anchored peripheral nations have experienced international wealth creation that is implicitly unreal and unsustainable..."

 

{Yup. Indeed it is. Unsustainable that is. and unreal}

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Greece: European or Not?

Greece: European or Not? | Gold and What Moves it. | Scoop.it

"Greeks are reeling from rising unemployment, higher taxes, and deep cuts to social programs – creating a sense of hopelessness and despair that may last for years, if not decades.

 

"But there is another element to this ongoing drama – Greece’s resentment of Western Europe and the feeling that Greeks don’t feel like they are a part of Europe.

 

"Indeed, the imposition of austerity burdens in exchange for huge bailouts from the European Union and International Monetary Fund are viewed by many Greeks as oppressive, high-handed behavior by wealthier western European nations, particularly Germany.


"On its own, Greece doesn’t carry much weight."

 

{This is an interesting thought and one I've wondered about lately myself. I wonder how true it is?}

 

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Credit Card Rewards Grow as Debit Rewards Dwindle

Credit Card Rewards Grow as Debit Rewards Dwindle | Gold and What Moves it. | Scoop.it
Nearly half of cash-back cards, or 48 percent, paid 1 percent cash back from the first dollar of spending, up 44 percent last year, according to a credit card study conducted by Bankrate.com.

 

{No suprise as banks would rather have you be the servant than them to you. Making it easier and more appealing to enter into credit debt hell is to their advantage.}

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Jim Sinclair found a great cartoon to depict the Banks's mortgage settlement.

Jim Sinclair found a great cartoon to depict the Banks's mortgage settlement. | Gold and What Moves it. | Scoop.it

This toon is the truty in pictures is if you ask me.

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The Lonely Road We Take Together « Jim Sinclair's Mineset

Jim Sinclair has a pretty long letter for readers today and it is worth your clicking over and reading the full thing. Here's a snippet:

 

"How is it possible for the Euro wizards of words to punish Greek debt severely but not hammer others equally now under assault both by mainstream media as well as the undertakers of bond ratings in the USA?

 

"The argument takes a position that the International Swaps and Derivative Association, which is made up of the manufacturers of these devices, will not self immolate by declaring credit events to be credit defaults. This is the ultimate irreversible can kick directly into the dead end sign at the end of the road of postponement to perdition.

 

"Financial currency inflated hell by global debt monetization is the condition from which there is no escape, except though burning down the old system and making a new one. This is the dead end sign at the end of the road for can kicking. It is the condition of financial perdition. It is not something coming in a distant future. It is here and now, clear and present, if you have the eyes to see.

 

"The means to this end is the combination of sick sovereign debt, risk insurance issued against the default of debt without sufficient liquid capital to do so, and the fact that those entities who issued this insurance are themselves and in truth illiquid under strain thanks to the capitulation of FASB on true market value of their legacy and other assets. This is the construction of the house of financial cards that will not survive intact during the period of 2012 to 2015. This is what gold at $1700 is indicating to those unfortunate enough to understand the practical workings of a system whose life force has been stolen to a degree that can only be deemed epic."

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Pento - Looming Debt Market Collapse to Destroy the Dollar

Pento - Looming Debt Market Collapse to Destroy the Dollar | Gold and What Moves it. | Scoop.it

Michael Pento on King World News:

 

"For the uninformed on Wall Street and in Washington, the growing tide of red ink is a signal that America is returning to normalcy. The only problem with that is our so called ‘normalcy’ is rapidly leading us into insolvency. The sad truth is that our desire to consume foreign made goods, with money that is borrowed, is evidence that our country is growing weaker by the day.

 

"If the U.S. economy was indeed strengthening, it would mean that we are producing more goods and services available for foreign purchase. That would serve to LOWER the trade gap, not increase it. What is occurring, instead, is an increase in consumer credit, which has enabled the American consumer to purchase even more foreign made goods."

 

{Debt is the bomb. And I don't mean that in the nice street essence of, "Dat is the Bomb!" I mean in the essence of "RUN!!!"}

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Non High-Risk Speculators/Gamblers Need Not Read – Market, Economic, Social, Political and Life Commentary by Peter Grandich

Non High-Risk Speculators/Gamblers Need Not Read – Market, Economic, Social, Political and Life Commentary by Peter Grandich | Gold and What Moves it. | Scoop.it

For you mining investors out there.

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S&P Downgrades 34 Italian Banks Due to Increased Financing Risks

S&P Downgrades 34 Italian Banks Due to Increased Financing Risks | Gold and What Moves it. | Scoop.it
The nation's two largest banks, UniCredit and Intesa Sanpaolo, had their credit ratings downgraded to BBB+ from A by S&P. The country's third largest bank, Banca Monte dei Paschi di Siena, was downgraded to BBB from BBB+.
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Manipulation And Abuse Confirmed In $350 Trillion Market | ZeroHedge

Just over three years ago, Zero Hedge first pointed out some dramatically meaningless inconsistencies in one of the world's most important numbers (which also happens to be "self-reported" and without any checks and balances) - the London Interbank...
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Foreclosure Deal to Spur New Wave of U.S. Home Seizures, Help Heal Market

Foreclosure Deal to Spur New Wave of U.S. Home Seizures, Help Heal Market | Gold and What Moves it. | Scoop.it
The $25 billion settlement with banks over foreclosure abuses may result in a wave of home seizures, inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely.

 

"The backlog of foreclosures has trapped homeowners in properties they can no longer afford, depressed neighborhood prices by increasing the number of abandoned homes and led banks to tighten mortgage credit standards because of uncertainty about the cost of their potential obligations. Foreclosure starts fell 46 percent in December from October 2010, when the investigation into the so-called robo-signing of mortgage documentation began, according to Irvine, California-based RealtyTrac Inc."

 

{Ahh. Now we know the rest of the story, I guess.}

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Not Buying Yet - Gold and Silver To Dip A Little More?

http://www.tfmetalsreport.com/blog/3372/no-buying-yet-gold-and-silver-dip-little-more

"Holy Toledo! How far would the metals be down today if margins had been raised instead of lowered??

 

"I'll try to touch upon several items this morning but I'm getting a bit of a late start so I'll try to exercise a little brevity. First up, our overnight beatdown courtesy of The Goons at The LBMA. As Ranting Andy has so diligently chronicled, The Goons like to hit gold nearly every single night at exactly 3:00 a.m. EST. This happens regularly, often 3-4 times per week and on the nights The Goons don't attack, The Monkeys on the Comex usually pick up the ball for them the next day. Sometimes, just to throw us off of their scent and, perhaps, keep us on our toes, The Goons throw us a little change-up. Last night was just such an event."

 

{Click over for the graphs and rest of the analysis. Turd arrived at the same conclusion about the attack late last night that I did when I got up this morning and looked at the gold graph on Exact Price: http://www.learcapital.com/exactprice }

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