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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10 Reasons Why Nothing You Do On The Internet Will EVER Be Private Again

10 Reasons Why Nothing You Do On The Internet Will EVER Be Private Again | Gold and What Moves it. | Scoop.it
The Internet is rapidly being transformed into a Big Brother control grid where privacy rights are being systematically strangled to death.  The control freaks...

 

"#1 The Federal Government Can Now Retain Your Internet Activity For Five Years - Even If You Have No Links To Terrorism"

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Gold and Silver Close Higher After Bernanke’s Speech - International Business Times

Gold and Silver Close Higher After Bernanke’s Speech - International Business Times | Gold and What Moves it. | Scoop.it
Your daily recap on precious metals...

By Eric McWhinnie

"Both precious metals climbed higher as Ben Bernanke placed more quantitative easing back on the table. In a speech at the National Association for Business Economics spring conference, Bernanke noted some positive signs in the job market, but remained cautious on the future.

 

"The Federal Reserve also believes it can aid economic growth by “continued accommodative policies.” If the slowdown is due to structural factors, as opposed to cyclical factors, the Fed still believes it can tweak outcomes. “If this hypothesis is wrong and structural factors are in fact explaining much of the increase in long-term unemployment, then the scope for counter-cyclical policies to address this problem will be more limited. Even if that proves to be the case, however, we should not conclude that nothing can be done,” Bernanke explained..."

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Guest Post: John Corzine- An Insider Helping Out Fellow Insiders | ZeroHedge

Submiited by James Miller of Miller's Genuine Few men have a resume quite like Jon Corzine. Not only has Corzine served in the U.S. Senate and been governor of New Jersey, he has also been the CEO of Goldman Sachs and the recently imploded brokerage firm MF Global. The insider blood filtrated through cronyism and the endless squandering of the public dime flows heavily through his veins.

 

"When MF Global went belly up back in the fall, Corzine was finally revealed for the inept, overly connected bureaucrat he really is. Corruption seemingly follows the former Senator, Governor, and banker like shadows on a sunny day..."

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Bernanke Decrees: #Gold Rips, VIX Slips, And Volume Dips | ZeroHedge

Bernanke Decrees: #Gold Rips, VIX Slips, And Volume Dips | ZeroHedge | Gold and What Moves it. | Scoop.it

"Gold managed a 1.8% surge today (back above $1690 and its 200- and 100-DMAs and its largest jump in 2 months) from Friday's close thanks to the combination of the ECB on Friday and Merkel and Bernanke today assuring the world that anything more than a 2% dip in stocks will not be tolerated. While Silver outperformed Gold from Friday's close, based on its 2-3x beta of the last year this was a notable 'underperformance' as Gold outpaced everything (beta adjusted)..."

 

"The S&P priced in Gold appears to have met and rejected resistance at around this level but of course this does nothing to slow the nominal equity rally that is now ignorant of anything but centrally planned rhetoric..."

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How to Handle the Coming Dividend Tax Hike

How to Handle the Coming Dividend Tax Hike | Gold and What Moves it. | Scoop.it
Hough: Will the favorable tax treatment on dividends go away at the end of 2012, even as Apple and other companies roll out new dividends?

 

"Unless Congress takes action, the top tax rate for the highest earners on most dividends, currently 15%, is set to jump to a whopping 43.4% next year. That is a maximum income-tax rate of 39.6% -- since dividends will once again be taxed as regular income -- plus a 3.8% tax on investment income as part of the health-care overhaul passed in 2009.

 

"Higher dividend taxes could take some luster off dividend-paying stocks -- and because the market is forward-looking, the fear is that their prices will fall sooner rather than later..."

 

{Maybe this will save all those landmarks local and state governments are going to have to sell.}

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Fiat's Fire: Student Loans top $1 Trillion. That's with a "T".

Fiat's Fire: Student Loans top $1 Trillion. That's with a "T". | Gold and What Moves it. | Scoop.it

"In other news, student loan debt (which will enslave millions for their whole rotten lives) has just topped $1 Trillion. Definitely bullish for the ponzi markets...."

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Twitter / NightBlogger: “Top 5 Banks Hold 95.7%, O ...

“Top 5 Banks Hold 95.7%, Or $221 Trillion, Of Outstanding Derivatives” http://t.co/439PbSRr
Mar 26 via Tweet Button Favorite Retweet Reply

“Top 5 Banks Hold 95.7%, Or $221 Trillion, Of Outstanding Derivatives” http://t.co/439PbSRr...

 

{Doesn't that make you feel all warm and fuzzy?}

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Richard Russell - Gold & Silver Being Bought Up By Billionaires

Richard Russell - Gold & Silver Being Bought Up By Billionaires | Gold and What Moves it. | Scoop.it

With gold remaining in a trading range below the $1,700 level, the Godfather of newsletter writers, Richard Russell, had this to say about what is happening with regards to gold, silver, stocks, inflation and the Fed: “Technically, both the US and Europe are dead broke, and their GDPs would have to run wild on the upside to make the debt to GDP ratio more acceptable. How will it all end? It will end with the central banks churning out junk fiat inflation-adjusted money in order to service the debts. Meanwhile, the precious metals and other tangibles are being bought up by millionaires and billionaires as they await their turns to feast on the remnants.”

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Jim’s Mailbox « Jim Sinclair's Mineset

From a reader of Jim Sinclair's:

 

"...Australia just signed up with China for direct trade excluding the US Dollar. China is now our largest trading partner. Also one to watch is the progress of the Asian Bank which will be our IMF in this region of 4 billion people, run by us not Europeans." -Barry

 

Now that is very interesting news, or at least it is to me. It means the currency wars are heating up. Jim Rickards was on the money.

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Great quote on Jim Sinclair's Mineset that is something you should remember.

"People are bereft of gratitude, which is not right. One should be grateful for the help they have received from others as long as one is alive. There are two things you must forget: the help you have rendered to others and the harm others have done to you. If you remember the help you have rendered, you will always expect something in return. Remembrance of the harm done to you by others generates in you a sense of revenge. You should remember only the help you received from others.
–SSB"

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Memo contradicts Jon Corzine testimony - Josh Boak

Memo contradicts Jon Corzine testimony - Josh Boak | Gold and What Moves it. | Scoop.it
Jon Corzine inappropriately ordered the removal of $200 million from customer funds while serving as the head of MF Global, according to a memo released Friday by a House Financial Services subcommittee - a finding that appears to contradict the former New Jersey governor’s congressional testimony.
The money contributed to the disappearance of an estimated $1.6 billion in client money.

 

{as if we didn't already suspect this.}

Read more: http://www.politico.com/news/stories/0312/74419.html#ixzz1qAAllMue

 

 

 

 

 

 

 

 

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CONTINUING BULL? « The Burning Platform

"When you ponder whether the gold bull market is over, just remember the quote below. Remember the correlation of gold price to the national debt. Remember that absolutely none of your neighbors own physical gold – YET.

 

"With gold more than $250 off its August 2011 peak, today’s chart provides some long-term perspective in regards to the gold market. Today’s chart provides an illustration of the bull market in gold that began back in 2001. As today’s chart illustrates, the pace of the 11-year bull market has increased over time. However, over the past seven months the price of an ounce of the shiny metal has declined more than at any point since 2008. This latest pullback has brought gold down to support (green line) for a second test of its three-year accelerated trend channel. So while the upward trend in gold is still intact, the accelerated trend is once again being tested.

 

"“You can’t print gold.” – Anonymous

 

{Click over for chart}

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Jesse's Café Américain: Bill Black on the MF Global Financial Collapse and Aftermath - Obama's Hurricane Katrina

Jesse's Café Américain: Bill Black on the MF Global Financial Collapse and Aftermath - Obama's Hurricane Katrina | Gold and What Moves it. | Scoop.it

"There were a number of disturbing things in Gary Gensler testimony to the Congress about the role of the CFTC in this. Some of these things are discussed here.

 

"I doubt very much that justice will be done at MF Global. The Banks have been getting away with everything they have done so far, up to and including the blatant stealing of funds from customers that were being held on account, and not even subject to trade.

 

"He can try to pass the buck on this, and there is plenty of company in this on both sides of the aisle and in the media. But the ultimate responsibility for the handling of this falls on Barack Obama and his Administration. It happened on his watch, and it was their job to make it right. That is price of leadership.

 

"He can continue to ignore it, plead ignorance, and even make excuses, but at the end of the day he should be ashamed at how this was handled, and the Congress and the media along with him.

 

"I do not expect to see justice done here. There are too many powerful people and interests involved, and justice, being truth in action and not words, is not en vogue for the financial sector. We are way beyond that..."

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The Golden Truth: Housing And Economy Starting To Crash Hard

The Golden Truth: Housing And Economy Starting To Crash Hard | Gold and What Moves it. | Scoop.it

"For many reasons explained in earlier posts, I have been thinking that - contrary to the what is being reported in the mainstream media - the small bounce we have seen in housing was nothing more than a product of the historically record low interest rates, an easing of credit availability and - probably most significant - the implementation of Government-sponsored FHA low down-payment, low rate programs.

If you strip away the seaonal adjustments and other data manipulation methods used by the Government, National Association of Homebuilders and National Association of Realtors, the truth is that real organic single family home buyers are not buying homes. I define "organic" as the buyers who are not distressed investment buyers. In fact, even during the period when mass foreclosures were halted until the robo-signing fraud was settled, investment buyers represented typically 30-40% of all home sales..."

 

{There's a chart at the bottom of this blog that is a must see, so I suggest you click over.}

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What Happened To Greek Credit Default Swaps?

What Happened To Greek Credit Default Swaps? | Gold and What Moves it. | Scoop.it
Since Greece technically defaulted over two weeks ago, yields on its bonds have risen sharply while insurance for Greek bonds has virtually disappeared, reflecting a lack of bond buyers and reluctance by loss-wary banks to write new protection.

 

"...There are a number of reasons why buyers of insurance on Greek bonds, also known as credit default swaps, or CDSs, are scarce and banks are reluctant to sell them on Greek sovereign debt. A CDS is a derivative that functions like an insurance contract for a debt default. If a borrower defaults, sellers compensate buyers.

 

"For one thing, Greece's default hasn't produced concrete results, but the recovery appears to be historically weak. The recovery rate at the recent Greek bond auction was substantially lower than the average for sovereign defaults from 1983 to 2010, according to Moody's Investors Service. While Greece's recovery rate was 21.5 percent, the average value-weighted rate during that 28-year period was 31 percent. That augurs for another default..."

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IRS waives fines for farmers missing MF Global tax info

IRS waives fines for farmers missing MF Global tax info | Gold and What Moves it. | Scoop.it
Tax officials will not penalize farmers who could not properly file their taxes because they had accounts at bankrupt broker MF Global.

 

{LOL Does this make anyone else wonder if this is little more than the government trying to hush things up by not stirring more dust from this fraud? I'd like to think they are just being kind... You know like they have been for hurricane survivors}

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India cuts import tariff value of gold by 7.50%

India cuts import tariff value of gold by 7.50% | Gold and What Moves it. | Scoop.it

Shivom Seth, MUMBAI (MINEWEB) -

"The Indian government has slashed the import tariff value of gold from $573 per 10 grams to $530. Though the decision was not taken due to the pressure from the Indian bullion industry, which has been protesting the duty hike, marketmen said it would provide a breather to the troubled industry. In the case of silver imports though, the tariff value remains unchanged at $1,036 per kilo...."

 

{Sure, it had nothing to do with the protests, sure. And the sun didn't rise today either. Go back to sleep. The dream will end shortly}

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City May Sell Historic Landmarks

City May Sell Historic Landmarks | Gold and What Moves it. | Scoop.it

"BALTIMORE (WJZ) — More than a dozen historic landmarks in Baltimore may be up for sale soon.

 

"But as Gigi Barnett reports, the city first wants to know how much they will bring in first.

 

"The city says its historic buildings are a liability, an eyesore and a drain on its pockets.

 

"Baltimore’s Shot Tower was the tallest building in the nation back in 1828 and became a national historic landmark in the early 1970s. The city says it wants to know how much the Shot Tower is worth to a private developer.

 

"'We have some great properties in unique locations and we hope we can find the right kind of marriage to make it work,' said City Director of Planning Thomas Stosur..."

 

{So much for an improving economy}

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Russia gold output growth to slow in 2012

Russia gold output growth to slow in 2012 | Gold and What Moves it. | Scoop.it

"Russian gold production growth could slow to 3 percent in 2012, comparing with last year's 3.6 percent increase, due to declining output from several mines, the Gold Industrialists' Union said in a statement on Monday."

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Jim Sinclair - US Launches Economic War, Gold Reacting

Jim Sinclair - US Launches Economic War, Gold Reacting | Gold and What Moves it. | Scoop.it

Today legendary trader and investor Jim Sinclair told King World News that gold has taken a major step towards becoming the currency of choice when it comes to international trade. Sinclair also said the US has launched an economic war against key Asian countries and it is having an immediate impact on the gold market. Here is what Sinclair had to say about the situation: “Wall Street goes to war and the weapon is money. There was a day when we went to war and the weapon was an armada of ships. It was landing on Iwo Jima, mano y mano, it was bravery and honor. Today it’s dollars.”

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The Supremacy Of The US Dollar Is Behind Us « Jim Sinclair's Mineset

Jim Sinclair:

 

"Brazil, Russia, India China and South Africa are meeting next week because of the use of SWIFT as a weapon of war. Expect the formation of a competitive SWIFT system in three blocks. The dollar will test .7200 USDX and fail on the third tap.

There will be an audio interview on this development with Erik King of King World News tomorrow morning.

 

"I have been doubted on many things, much of which has come to fruition. There was a time when $1650 in gold was considered the ludicrous dream of a madman.

 

"2012 is the year that the US dollar will suffer from a significant drop in utilization as the international settlement currency. The utilization of the SWIFT system as a means of making war is the singular greatest mistake dollar managers have ever made..."

 

{Click over to read the rest and the news that earned this response from Jim Sinclair. The currency wars are on. And it's not going to be pretty}

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Embry - Massive QE Near as System Moves Closer to Collapse

Embry - Massive QE Near as System Moves Closer to Collapse | Gold and What Moves it. | Scoop.it

John Embry tells KingWorldNews:

"...I think the backbreaker would be a recognition that all of this economic recovery being touted in the US is all just smoke and mirrors, that it really isn’t happening. It’s just a bunch of people playing with numbers and in fact the economy is getting ready to go the other way.

 

"Ben Bernake alluded to that today when he said he wondered whether the labor market recovery was sustainable. He knows full well the problems that are out there and the fact that there is no easy solution to this. This is what people need to be cognizant of, don’t believe what you hear.

 

"There is also a lot of negative commentary coming out of the same entities in the mainstream media who have constantly been wrong regarding the price of gold. They are now saying the gold price is broken and it’s going to go down to $1,400 to $1,500 or even worse.

 

"This just sets the perfect psychological backdrop for what’s coming, which is probably going to be a very sharp move higher. This will be in response to the inevitable quantitative easing. QE is coming, despite what anybody says..."

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Trader Dan's Market Views: Pass the Juice Please

Trader Dan's Market Views: Pass the Juice Please | Gold and What Moves it. | Scoop.it

Trader Dan Norcini:

 

"I have said it before and will say it again - the FED IS TERRIFIED OF RISING INTEREST RATES. Do not forget these two reasons:

 

"1.) the entire "recovery" has been fueled by an ultra low interest rate environment in which short term money is basically free for those who want to borrow it and then leverage it up for speculative trading purposes. (Think a rising stock market which has all the feel of another speculative bubble).

 

"2.) the US federal debt is at banana republic levels and any, I repeat, any rise in interest rates, will suck more of the incoming federal revenue into servicing the cost of this debt (paying the interest on it), leaving less for the spendthrift class to buy votes with.

 

"Bernanke and company cannot afford to have a stock market that stops moving higher because if and when it did, the entire facade of an economy on the mend would come crashing down with it..."

 

{And as Jim Sinclair would say, "QE to infinity"!}

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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.

 

Gold spot price at $1,661.60.

Platinum spot price at $1,630.10.

Silver spot price at $32.22.

 

Last two days have been nice and strong. 


Remember, that April 27th is options expiration day for gold. Could make Monday and Tuesday interesting.

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Gunning for Gold | Ben Traynor | Safehaven.com

Gunning for Gold | Ben Traynor | Safehaven.com | Gold and What Moves it. | Scoop.it

"Q: What links Turkey, India and Vietnam? A: Weak currencies, trade deficits - and a suspicion that gold is to blame...

 

"Here's the scenario: a falling currency, a widening trade deficit, and a population buying more and more gold. What's the result? Well, it tends to be an unhappy government - followed by a policy response.

 

"We've seen it Vietnam, where central bankers continue to make noises about "mobilizing" the country's privately held gold, having last year handed an effective monopoly to a single refiner (later "administratively acquired" by the central bank).

 

"We're seeing it in India, where the government has quadrupled import duties since the start of the year.

 

"And we may be about to see it in Turkey where, the Wall Street Journal reports, the government is to publish plans designed to encourage people to deposit their gold bullion with the country's banking sector. One proposal reportedly being considered would involve interest-paying gold deposit accounts, with depositors being offered the ability to withdraw gold bars from ATM machines.

 

"It remains to be seen whether this will get off the ground, and whether it will be successful.

 

"The tradition of holding gold outside the system could be hard to shift," reckons Murat Ucer, economist at Istanbul-based research firm Global Source Partners..."

 

{Proof that Gold is money and the governments don't want their citizens in control of it.}

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