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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BRICS Nations Talk Tough To West, Start Rival Development Bank

BRICS Nations Talk Tough To West, Start Rival Development Bank | Gold and What Moves it. | Scoop.it

"The leaders of Brazil, Russia, India, China and South Africa, meeting in New Delhi on Thursday, drafted a joint statement lambasting the West's "aggressive monetary policies" and dominance of global institutions.

 

"Collectively known as the BRICS, the heads of the world's five largest emerging economies also took steps at the fourth annual summit toward greater unity and launched a proposal to create a financial institution that could eventually rival the World Bank. At the one-day summit, leaders also signed two agreements to enhance trade ties.

 

"In a joint statement, the BRICS also labelled bank loans, bond buying and quantitative easing measures by America and Europe in the wake of the global financial crisis "aggressive policy actions" that have flooded the developing world with excess liquidity.

 

"In a further criticism of the West's dominance of global institutions, Indian Prime Minister Manmohan Singh called on the BRICS nations to unite over reform of the United Nations Security Council..."

 

{The Currency War is in full swing.}

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Mohammed Abdullahi Shettima's curator insight, August 20, 2013 5:41 AM

The Down fall of the Bretton Woods Intitutions is jst around the edge.

 

A new wave of Freedom to the Developing Countries of the World!

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In The News Today « Jim Sinclair's Mineset

From the desk of Jim Sinclair:

 

My Dear Friends,

 

The future is US dollar Bloc down, Euro Bloc sideways, Bric Bloc up.

 

This means the absolute end of dollar dominance. Utilizing the SWIFT system as a weapon caused it.

 

It began today.

Jim

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Eric De Groot: The Invisible Hand Casts A Shadow

Eric De Groot: The Invisible Hand Casts A Shadow | Gold and What Moves it. | Scoop.it

"Bearish setups that plague D-wave declines are being unwound within a backdrop of fear. Rising lease spreads, collapsing ETF money flows into the third hook, and a sharp rise in the diffusion index (DI) as price declines illustrate another round of unwinding or what I've come to view as the invisible hand's elusive shadow (see charts 1-4). Do not underestimate it; It's exceptionally skilled at managing the trend for a profit.

 

"Anyone faced with the ultimatum of stand with us or receive "SWIFT" kick in the butt..."

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Everybody loves an Early Inflation

“Everyone loves an
early inflation. The effects at the beginning of inflation are all good.
There is steepened money expansion, rising government spending, increased government
budget deficits, booming stock markets, and spectacular prosperity, all in
the midst of temporary stable prices. Everyone benefits, and no one pays.
That is the early part of the cycle.”

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Six Things Bernanke Is Clueless About

Six Things Bernanke Is Clueless About | Gold and What Moves it. | Scoop.it

"There is no puzzle. Rather, Bernanke fails to see the obvious.

 

"Demographics are vastly different today in the face of boomer retirements than they were 50 years ago.

 

"This a not typical cyclical recession. Instead, it’s a consumer deleveraging and balance sheet recession.

 

"Instead of relying on charts, Okun’s Law and the Beveridge Curve, how about a little common sense?.."

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European Stress Getting Progressively Worse As LTRO Boost A Distant Memory | ZeroHedge

European Stress Getting Progressively Worse As LTRO Boost A Distant Memory | ZeroHedge | Gold and What Moves it. | Scoop.it

Tyler Durden:

 

"The sad reality of an austerity induced slowdown in Europe and an ESFS/ESM as useful as a chocolate fire-guard seems to be creeping into risk asset premia across Europe (and implicitly the US). GGB2s are all trading back under EUR20 (that is 20% of par), Sovereign yields and spreads are leaking wider despite the best efforts of their respective banks to back-up-the-truck in the 'ultimate all-in trade' and the LTRO Stigma has reached record levels as LTRO-encumbered banks' credit spreads are the worst in over two months. Spanish sovereign spreads are back at early January levels and with Italian yields comfortably back over 5% and the bonds starting to reality-check back towards the much less sanguine CDS market. It seems apparent that much of the liquidity-fixing LTRO benefits are now being washed away as investors realize nothing has changed and in fact things are considerably worse now given encumbrance and subordination concerns and the increased contagion risk that the LTRO and the Sarkozy trade has created..."

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Thunder Road Report details continuing gold price manipulation

Thunder Road Report details continuing gold price manipulation | Gold and What Moves it. | Scoop.it

"Mylchreest backs up his arguments with a succession of Kitco daily gold price charts which show, in his view - and his arguments are compelling - that there are some obvious market sale algorithms in place which kick in virtually every time the gold price starts accelerating upwards - and that these interventions happen at precise times on a regular basis - the most notable of which is at 8 am London time and 3 am New York time - all designed to colour the trading pattern of gold on the principal world gold markets, and also designed to convince putative gold investors that the precious metal is not necessarily the safe haven it is cracked up to be..."

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The [Recovery] Has No Clothes - Sprott Asset Management

The [Recovery] Has No Clothes - Sprott Asset Management | Gold and What Moves it. | Scoop.it

Eric Sprott:

 

"For every semi-positive data point the bulls have emphasized since the market rally began, there's a counter-point that makes us question what all the fuss is about. The bulls will cite expanding US GDP in late 2011, while the bears can cite US food stamp participation reaching an all-time record of 46,514,238 in December 2011, up 227,922 participantsfrom the month before, and up 6% year-over-year.5 The bulls can praise February's 15.7% year-over-year increase in US auto sales, while the bears can cite Europe's 9.7% year-over-year decrease in auto sales, led by a 20.2% slump in France.6, 7 The bulls can exclaim somewhat firmer housing starts in February8 (as if the US needs more new houses), while the bears can cite the unexpected 100bp drop in the March consumer confidence index9, five consecutive months of manufacturing contraction in China10, and more recently, a 0.9% drop in US February existing home sales.11 Give us a half-baked bullish indicator and we can provide at least two bearish indicators of equal or greater significance."

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Farage - Western World Collaborated in Giant Ponzi Scheme

Farage - Western World Collaborated in Giant Ponzi Scheme | Gold and What Moves it. | Scoop.it

With European leaders claiming the crisis is now under control, today King World News interviewed MEP Nigel Farage. Farage told KWN that despite European leaders pretending everything is okay, they will have to eat their words in the coming months. But first, here is what Farage had to say about what is currently taking place: “We are heading deeper and deeper into insanity. Even in a country that is outside of the eurozone, take the United Kingdom, our national debt is set to rise by 40% over the next five years.

 

“What’s happened and we’ve seen it with the ECB, in America and around the Western world, is the central banks have acted in a very concerted manner and have created a whole new, fresh load of money.

 

"We call it quantitative easing in the United Kingdom, others might even call it a giant Ponzi scheme. But we’ve created all of this fresh credit, and for the moment we’ve kicked the can down the road.

 

"So we are just getting deeper and deeper into problems. Leaving our children and grandchildren with loans that could well take decades to finish (paying) off. I fear we are now stoking up the conditions, at some point in the future, for serious inflation...."

 

Listen to the full audio interview here:

http://www.kingworldnews.com/kingworldnews/Broadcast/Broadcast.html

 

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Gold is Manipulated...But That's OK - Ed Steer's Gold & Silver Daily

Gold is Manipulated...But That's OK - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it

Commentary on Ed Steer's Gold and Silver daily about Chris Martenson's article:

 

"Financial writer Chris Martenson hurled himself into the gold market manipulation camp with brilliant commentary that cites some of the documentation GATA long has been publicizing.

 

"We disagree with him only insofar as, like some others, he shrugs off the manipulation as an opportunity for investors to obtain metal at a wonderful discount. As long as we live in a world where time is limited and thus equivalent to money, such a discount may be consolation only for those with long lives ahead of them.

 

"Many gold investors have gone to their graves thoroughly cheated, without consolation, and of course the manipulation also entails constant deception of both investors and citizens generally, which is repugnant in itself.

 

"But we wish Martenson the longest of lives so that he, unlike some of our departed friends, may cash in on his perceptiveness and so the rest of us might benefit from many more commentaries like his new one..."

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Conflict-free gold standard about to become a fact | MINING.com

Conflict-free gold standard about to become a fact | MINING.com | Gold and What Moves it. | Scoop.it

"The World Gold Council unveiled today the long-awaited “exposure draft” of the so-called conflict-free gold standard, which aims to crackdown gold tainted by conflict and human rights violations, such as the ongoing supply coming from the rebel forces in the Democratic Republic of Congo.

 

"The framework is intended to ensure that gold produced under its guidelines neither fuels armed conflict, nor funds armed groups, nor contributes to human rights abuses associated with armed conflicts..."

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Trader Dan's Market Views: Goldman Sachs issues "Buy" on Gold; Gold drops lower

Trader Dan's Market Views: Goldman Sachs issues "Buy" on Gold; Gold drops lower | Gold and What Moves it. | Scoop.it

Trader Dan Norcini:

 

"Goldman's views in summary can be translated as follows: Gold market weakness has been tied to the fact that the markets were expecting "REAL INTEREST RATES" to rise in light of the recent economic data showing improvement in the US economy. However, the economic recovery is not strong enough to allow for higher rates and that coupled with Bernanke's comments that acccomodative monetary policy will be required for the foreseeable future means that gold has overreacted to the downside.

 

"Goldman is looking for another round of QE which will pressure the Dollar and thus drive gold prices higher..."

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oftwominds-Charles Hugh Smith: Welcome to the United States of Orwell, Part 3: We had to Destroy Democracy in Order to Save It

oftwominds-Charles Hugh Smith: Welcome to the United States of Orwell, Part 3: We had to Destroy Democracy in Order to Save It | Gold and What Moves it. | Scoop.it

Charles Hugh Smith:

 

"The National Security State has an Orwellian imperative: destroy democracy in order to "save" it.

 

"Here is what I consider to be the dominant narrative of what I call the National Security State. The National Security State is comprised of the Pentagon, the Armed Forces, the CIA, NSA, Homeland Security, the corporate military-industrial complex that profits from it and the "black" budgets, agencies and operations that are hidden from the citizenry in the name of "national security."

 

"Here's the narrative: we were surprised by a treacherous, shadowy, sinister enemy and we have to set aside the niceties of democracy and civil liberties to combat this new and terrible foe. This was the narrative after Japan's attack on Pearl Harbor in December 1941, and it set in motion a total-global-war mobilization of the entire American society and economy.

 

"Civil liberties? Gone, baby: Executive Order 9066 sent 120,000 Americans to concentration camps hastily erected in various wastelands..."

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Norcini - Trading “Extremely Violent” & Will End in “Disaster”

Norcini - Trading “Extremely Violent” & Will End in “Disaster” | Gold and What Moves it. | Scoop.it

Today legendary Jim Sinclair’s chartist, Dan Norcini, told King World News the destructive policies of the Fed are now wreaking havoc in key markets. Norcini described the trading environment as “extremely violent” and said the Fed’s experiment will end in disaster. Norcini detailed out exactly what is taking place and what investors and traders must be aware of going forward: “We have tremendous whipsaw action in commodities. It’s so wild right now in terms of the trading swings. We have had these markets reacting to recent comments out of the Fed discussing additional accommodative monetary policy being required because of weakness in the economy.

 

"Initially you had money rushing into stocks and commodities with almost everything trading higher across the board. But for the last two days traders have looked at the data and jettisoned stocks and commodities. The bottom line is you are seeing these very large swings of say 2% to 3% per day in key commodities such as copper and silver.

 

"We are also seeing big swings across the grain markets as well. Huge upside moves are followed by huge downside moves intraday. These false buy and sell signals and wild swings have been wreaking havoc in these markets and crushing many of the traders.

 

"In my opinion, the Fed and the Working Group on Financial Markets have been actively manipulating key markets. The Fed has been doing this manipulation in an attempt to push investors back into the stock market and out of commodities and hard assets.

 

"Bernanke assists in this manipulation by jawboning key markets. As an example, if the commodities are showing too much strength, he or another member of the Fed will come out and sound hawkish. The Working Group on Financial Markets then goes in and starts putting heavy pressure on key commodities, which triggers a cascade of sell orders.

 

"This is, effectively, a modern day version of price controls...."

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The Great Student Loan Debt Default

"Like the housing bubble, which was predicated on easy money and rising prices, student loan lending has increased to unprecedented levels over the last decade.

 

"There is some $1 Trillion in outstanding student loan debt in the United States, the majority of it borrowed by individuals who were sold the idea that they could go to college, party with their buddies at fraternity and sorority houses for four years, get a piece of paper that says they’ve received higher education, and then land a job paying $100,000 a year right out of school.

 

"Somewhere along the way, however, things changed. When these highly educated young adults finally received their degrees, it turned out that all of those hundred thousand dollar jobs they were promised were either exported to countries where laborers are paid a fraction of the cost to do the same work, or they simply evaporated as demand for goods and services in America and around the world collapsed...."

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20 Signs That We Are Witnessing The Complete Collapse Of Common Sense In America

20 Signs That We Are Witnessing The Complete Collapse Of Common Sense In America | Gold and What Moves it. | Scoop.it

#1 According to Wired Magazine, FBI agents have been taught that they can “bend or suspend the law” as they pursue criminals and terrorists. But when they break the law they become criminals themselves.

 

#2 A TSA manager (not just an agent) at Dulles International Airport was recently discovered to be running a prostitution ring out of a local hotel room. TSA agents have been charged with crime after crime after crime and yet we continue to allow them to be in charge of airport security.

 

#3 CBS News is reporting that approximately 200 pieces of luggage a day are being stolen by employees at John F. Kennedy International Airport and authorities still have not been able to stop it.

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The Hunger Games: How Gold and Silver Will Save You From Soaring Food Prices | The Underground Investor

  In post World War II Germany, the MONTHLY inflation rate reached 29,500%.

 

"Think about why people are trying to prevent you today from accumulating physical gold and physical silver. And yes, you should never buy the GLD and SLV and paper gold and paper silver but only PHYSICAL gold and PHYSICAL silver. Those who refuse to buy physical gold and physical silver now at dirt cheap prices may not even have a choice in the near future, because we believe physical supplies of gold and silver will become so tight, that when the general sheep herd finally realizes that everything in this article is true and finally make the move to protect their wealth, by that time, it most likely will be too late to purchase physical gold and physical silver, because there will be no more supply available for sale."

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Is gold hustling for a move? | The Daily Gold

Is gold hustling for a move? | The Daily Gold | Gold and What Moves it. | Scoop.it

"Gold investors have had to endure quite a lot in the last six months. Not only has the gold price barely moved from six months ago, but it has endured an up, down, up, down chopping motion during this period of volatility. Future volatility in the gold price was something that some investors were calling for at the beginning of 2011, and volatility we got. During the last six months, this most psychological of markets, has endured all sorts of emotional squeezes, take downs and Buffett’s now regular wise cracks.

 

"We read last week that sentiment indicators for gold investors where relatively very low. Apparently, fewer investors believed in gold than at any time during 2009 and 2010. Jason Goepfert, ofSentimenTrader, found that gold was less popular with investors now than at all other times since the Credit Crunch, apart from late 2008, and a short moment at the end of 2011. Mr Goepfert tells us that gold was also equally as unpopular on two occasions in 2011..."
 

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This Is Where The Developed World's Households Have Invested Their Money | ZeroHedge

This Is Where The Developed World's Households Have Invested Their Money | ZeroHedge | Gold and What Moves it. | Scoop.it

Tyler Durden:

 

"Yesterday we presented what the balance sheet of the developed, or better known as insolvent, world- recall there was over $21 trillion in excess debt as of 3 years ago, looks like, and the curious to some observation that trillions in liabilities also double up as assets, in what is easily the world's most confounding (to central bankers at least) global circle jerk. After all, one can not inflate liabilities, without also destroying the assets these double count as at the same time. Yet while informative, that chart did not tell us anything we did not already know. However, the next chart we will present today will show a different aspect of the developed world, namely by indicating how the households of the three "richest" economies - Japan, the US and the Euro Area, have invested their money in various financial assets. And while this is merely the asset side of the ledger it shows how distinctly different the approach to capital allocation has been for countries in different stages of growth or ungrowth. What is most notable is the distinct distribution of capital in shares and equities within the three regions: it also shows why a sustained downtick in the US stock market is the deathknell of the modern economic experiment. What is also curious is that the investment of Japanese households into Insurance and Pension reserves, which in turn are then funneled into JGBs, is no larger than the US or European equivalent: it means that the true funding cost of the welfare state is roughly a third of all modern financial assets...."

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Buy Gold Now Before it Gets to $2,000: Newmont CEO

Buy Gold Now Before it Gets to $2,000: Newmont CEO | Gold and What Moves it. | Scoop.it
The head of Newmont Mining tells CNBC he sees the price of gold rising to $2,000 an ounce, and the time to buy it is now before inflation "comes roaring back."...
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UK: Burglars targeting Asian homes for gold

UK: Burglars targeting Asian homes for gold | Gold and What Moves it. | Scoop.it

"London: More incidents of burglars targeting gold and jewellery in houses belonging to British-Asians have come to light, with police issuing guidelines to the community that is known to traditionally preserve family jewellery for generations.

 

"The latest spate of burglaries for gold has been reported in Leicester, which has a large population of Indian origin.

 

"The police say that only items of gold jewellery were stolen during the burglaries in Spinney Hills, Highfields and Evington..."

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WSJ: Fed Buying 61 Percent of US Debt

WSJ: Fed Buying 61 Percent of US Debt | Gold and What Moves it. | Scoop.it

By Julie Crawshaw and Forrest Jones

 

"The Federal Reserve is propping up the entire U.S. economy by buying 61 percent of the government debt issued by the Treasury Department, a trend that cannot last, Lawrence Goodman, a former Treasury official and current president of the Center for Financial Stability, writes in a Wall Street Journal opinion article published Wednesday.

 

"Last year the Fed purchased a stunning 61 percent of the total net Treasury issuance, up from negligible amounts prior to the 2008 financial crisis," Goodman writes.

 

"Goodman also warns that U.S. economy and markets are “at risk for a sharp correction” if conditions aren’t “normalized.”

 

"This not only creates the false appearance of limitless demand for U.S. debt but also blunts any sense of urgency to reduce supersized budget deficits...."

 

Read more: WSJ: Fed Buying 61 Percent of US Debt

 

{This practice is unsustainable and fools the American people}

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Eric Sprott - Mainstream Bashes Gold, But New Highs Coming

Eric Sprott - Mainstream Bashes Gold, But New Highs Coming | Gold and What Moves it. | Scoop.it

Today billionaire Eric Sprott told King World News the central planners are desperately trying to convince the masses that everything is okay. Sprott, who is Chairman of Sprott Asset Management, also said the mainstream media continues to bash gold. But first, he had this to say about the global economy: “I think it’s safe to say we’ve hit that ‘Minsky moment’ where the productive capacity of the country is not capable of paying off the debt. All we’re trying to do is push it down the road so maybe there is some luck and these economies will come to life.

 

"But all the data we get, whether it’s European PMI, UK GDP, almost any data point we get seems to point to a contraction in Europe. So it’s pretty hard to imagine that anyone is going to pay off their debt when their GDPs are contracting.

 

"So, I think it will be an ongoing process. The powers that be are trying to convince the masses that everything is okay, but the opposite is the case...."

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Why Does The Department Of Homeland Security Need 450 MILLION Hollow Point Bullets?

Why Does The Department Of Homeland Security Need 450 MILLION Hollow Point Bullets? | Gold and What Moves it. | Scoop.it

"Somebody out there has decided that the Department of Homeland Security needs a whole lot of ammunition. Recently it was announced that ATK was awarded a contract to provide up to 450 MILLION hollow point bullets to the Department of Homeland Security over the next five years. Is it just me, or does that sound incredibly excessive? What in the world is the DHS going to do with 450 million rounds? What possible event would ever require that much ammunition? If the United States was ever invaded, it would be the job of the U.S. military to defend the country, so that can't be it. So what are all of those bullets for? Who does the Department of Homeland Security plan to be shooting at? According to the U.S. Census, there are only about 311 million people living in the entire country. So why does the Department of Homeland Security need 450 million rounds of ammunition? Either this is an incredible waste or there is something that the Department of Homeland Security is not telling us..."

 

{Anyone else find this disturbing? Or is it just me?}

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Wake up America: IDF Cancelling All Passover Leaves

Wake up America: IDF Cancelling All Passover Leaves | Gold and What Moves it. | Scoop.it

"Some thing's up. Chief of Staff Benny Gantz has done something that hasn't been done in many years. He has cancelled ALL leaves for Passover."

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