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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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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Jesse's Café Américain: More Evidence of Fraud: MF Global's Inscrutable Accounting Error - Who Shot Jon?

Jesse's Café Américain: More Evidence of Fraud: MF Global's Inscrutable Accounting Error - Who Shot Jon? | Gold and What Moves it. | Scoop.it

Jesse's thoughts on MF Global:

 

"The more that I think on this whole situation, the more that I suspect, as a personal theory, that the genesis of the MF Global collapse resides in an attempt by a few financial industry participants, with some insider knowledge of the firm, to break Cozine's Euro debt trade by increasing his margin demands on an overleveraged 'sure thing' against an overly thin wallet.

 

"The goal was to force Corzine to settle what ought to have been a good trade at a loss, and perhaps to be forced to surrender the firm, and in particular their positions in the metals exchanges, to an acquisition at a very modest price to value in order to provide the liquidity. Instead, Corzine dipped into customer funds, and took it to a whole new level, spoiling any further thoughts of an easy acquisition. This of course does not absolve Corzine for his highly risky trade, even though he may have been privately assured that the European debt would be made good.

 

"I might have to give too much credit to say it was like burning the farms and buildings before Stalingrad. Instead the whole city itself was burned and rendered uninhabitable..." click through for the full piece.

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Markets Tailspin On New Greek Bank Woes

Markets Tailspin On New Greek Bank Woes | Gold and What Moves it. | Scoop.it
Stocks and commodities plunged Wednesday after the head of the European Central Bank -- a lynchpin in the euro zone's effort to contain the effects of its sovereign debt crisis -- suggested that some Greek banks will be left to collapse.
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Euro Zone Data Offer Further Signs Of Recession

Euro Zone Data Offer Further Signs Of Recession | Gold and What Moves it. | Scoop.it
Fresh figures on business activity and retail sales in the 17-member currency area reinforce earlier signs of recession, even as the European Central Bank left its main interest rate unchanged at an all-time low of 1 percent.

 

"Data company Markit Economics Ltd. said its composite purchasing managers' index for the euro zone fell to 49.1 in March from 49.3 in February. But the month-to-month index, which measures business activity, did show some improvement: The average reading over the first three months of this year was 49.6, up from 47.2 for the fourth quarter of 2011.

 

"Chris Williamson, chief economist for Markit, said the PMI data "indicate that the region has slipped back into a technical recession ."

 

"With the exception of a marginal expansion seen in January, the economy has been in continual decline since last September," he said."

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Spain: Jobless Numbers Add To Economic Paralysis

Spain: Jobless Numbers Add To Economic Paralysis | Gold and What Moves it. | Scoop.it
Unions, students and others have protested the proposed cuts by staging huge demonstrations in Barcelona, Madrid and other cities across the beleaguered country.

 

"Spain, already suffering the highest unemployment rate in Europe, received even more grim news on the job front Tuesday.

 

"The number of workers officially registered as unemployed climbed last month by 0.8 percent, or 38,769, to 4.75 million, the Ministry of Employment and Social Security said. That's the highest reading since the current statistical series began in 1996.

 

"On an annual basis, unemployment was 9.6 percent higher in March. According to data released by Eurostat, Spain's February jobless rate stood at 23.6 percent, the highest in the European Union..."

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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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Gold and Silver Bullion Coin Sales Rise In March

Gold and Silver Bullion Coin Sales Rise In March | Gold and What Moves it. | Scoop.it

"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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The Broken Window Fallacy

http://thevictoryreport.org/ This short video explains one of the most persistent economic fallacies of our day. http://thevictoryreport.org/ Produced by Sam...

 

Hat tip to ZeroHedge

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China’s Premier: Bank Monopoly Must Be Broken

China’s Premier: Bank Monopoly Must Be Broken | Gold and What Moves it. | Scoop.it
China’s Premier Wen Jiabao called the country’s state-owned banks a “monopoly” that has to be broken to allow freer flow of capital to loan-hungry smaller businesses, as the world’s second largest economy appears to have skidded to its slowest...

 

"Wen's comments, carried on China National Radio, were blunt.

"Frankly, our banks make profits far too easily. Why? Because a small number of major banks occupy a monopoly position, meaning one can only go to them for loans and capital," Wen told local businesses at a roundtable discussion held in the city of Fuzhou.

"That's why right now, as we're dealing with the issue of getting private capital into the finance sector, essentially, that means we have to break up their monopoly," Wen said..."

 

{Capitalism and competetion coming to China? wow. the world is a changing.}

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Spain Borrowing Costs Surge On Budget, Debt Fears

Spain Borrowing Costs Surge On Budget, Debt Fears | Gold and What Moves it. | Scoop.it
Spain's borrowing costs jumped Wednesday and demand for its debt tumbled at the country's first debt sale since the government unveiled its latest austerity budget last week, which apparently failed to convince investors that Madrid can be counted...

 

"Spain sold €2.6 billion ($3.4 billion) of government bonds Wednesday, compared with a maximum target of €3.5 billion, the Bank of Spain said.

 

"The sale is the first since Budget Minister Cristobal Montoro presented the government's 2012 spending plan on March 30 and said public debt will rise to 79.8 percent of gross domestic product. That's the highest since at least 1980 even as Spain makes the deepest budget cuts in three decades.

 

"Prime Minister Mariano Rajoy told a party meeting in Malaga, Spain, that the nation's economic situation is of "extreme difficulty...."

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