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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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2012 Economic Outlook: Countdown to the End | Greg Hunter’s USAWatchdog

2012 Economic Outlook: Countdown to the End | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it

Greg Hunter - "I don’t know exactly what’s going to happen in 2012, but I am betting a dramatic change is coming. For most, life will be much harder and people will be much poorer. You’ve heard of peak oil? Well, peak credit is also topping out, and it looks like everything will hit the fan next year. Charles Hugh Smith has a similar 2012 economic outlook, and wrote an in-depth post yesterday where the title describes the entire story: “2011: The Last (Debt-Consumerist) Christmas In America.” Mr. Smith said, “A funny thing happens when you depend on expanding debt to fund your consumption: eventually the cost of servicing your rising debt reaches the limit of your income, and you can’t borrow any more, unless interest rates decline so you can leverage your income into higher debt. . . .Lowering interest rates extends the era of debt-based consumption, but it only puts off the inevitable crash when the ability to borrow runs out. Eventually the cost of servicing this lower-interest debt absorbs all your disposable income, and the borrowing skids to an abrupt stop.”"

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London Trader - There are Tremendous Silver Shortages

London Trader - There are Tremendous Silver Shortages | Gold and What Moves it. | Scoop.it

"This game is getting so stretched that it’s going to break. You don’t think the Chinese know this stuff. If we get a close above the 200 day moving average in the mid 30’s on silver, watch silver immediately pop $2 or $3. Silver is totally incredible. There is nobody in COMEX silver contracts anymore, other than casino players. The only way they have been able to keep silver depressed is by borrowing silver from SLV to meet immediate demand. That’s the only reason silver isn’t trading $10 to $15 higher right now."

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Gold the protector as democracies move towards totalitarianism

Gold the protector as democracies move towards totalitarianism | Gold and What Moves it. | Scoop.it

"Gold, and perhaps silver, are still in a bull market phase which is likely to continue as governments print money, spin figures, manipulate markets and erode basic liberties."


Author: Lawrence Williams

 

"Let's look at the realities. Governments can release trillions of dollars into the markets to try, mostly unsuccessfully so far, to stimulate growth, mitigate unemployment and keep the general population's ‘feel-good' factor short of being suicidal. In this context it is hardly beyond likelihood that the relatively tiny sums (in comparison with all the money being printed under quantitative easing programmes) needed to keep stock markets appearing at least reasonably healthy - on the grounds that a healthy stock market gives the impression that the economy in general remains sound - may be being deployed. Likewise dollar, or other currency, strength - or weakness - is indeed often manipulated by governments as perhaps can be the price of gold (effectively a currency in its own right) where a rising gold price is a flag that all is not well with the mighty dollar or, indeed, with the global economy in general."

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World economy at a 'very dangerous juncture': IMF chief

World economy at a 'very dangerous juncture': IMF chief | Gold and What Moves it. | Scoop.it

IMF chief Christine Lagarde warned Tuesday that the world economy is at a "very dangerous juncture," speaking of the potential impact on poorer nations during her first visit to Africa as head of the fund.


The International Monetary Fund managing director spoke of a crisis of confidence with high unemployment and slowing global growth.

"Currently the world economy stands at a very dangerous juncture," Lagarde told a roundtable on Africa's economic future in the Nigerian city of Lagos.

 

She said the IMF's revised global growth forecast expected in January looked to be lower than the previous one in September, which was four percent, already down from June's outlook.

 

"And what's more, there are downside risks on the horizon that are really threatening the recovery process that had started" after the 2008-09 global financial crisis, she said.

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US asks banks to keep more cash at hand

US asks banks to keep more cash at hand | Gold and What Moves it. | Scoop.it

"The US Federal Reserve on Tuesday moved to toughen capital requirements for the country's largest banks, saying their size and stretch could threaten the overall financial system.

 

"The Fed said it was preparing to implement new capital and liquidity rules outlined by an international banking pact on nearly three-dozen banks with assets over $50 billion.

 

"Rebuffing resistance from some of the country's most powerful financiers, the Fed said it would apply the extra-tough standards of the Basel III pact on 29 "globally systemically important banks."

 

[LOL right. I'm sure there was reistance. To which the FED said, "We are the Borg."]

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oftwominds: 2011: The Last (Debt-Consumerist) Christmas in America

oftwominds: 2011: The Last (Debt-Consumerist) Christmas in America | Gold and What Moves it. | Scoop.it

"I for one will not mourn the last debt-consumerist Christmas in America. Good riddance to the flaunting of borrowed money and the heedless, desperate purchase of valueless "goods" as gifts for an insolvent nation awash in too much of everything but common sense, integrity, gratitude, accountability and healthy living."

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Goldrunner: Gold on the Cusp of $3,000+: An Update | The Daily Gold

"Our work with Gold is based on a “Model” off the late 70’s Gold Bull that has been replicating nicely since we started the Fractal Work with Gold back in 2002 and 2003. Short-term volatile moves in Gold, as we have seen over the past weeks, do not affect our projections based on the model, leaving the expectation of a move in Gold up to $3,000 into mid-year based intact as outline in our previous article entitled Gold Tsunami: on the Cusp of $3000+?


"This is no different than our projection calling for Gold going to $1860 to $1920 back in April in an article entitled Goldrunner: Gold on track to Reach $1860 to $,920 by Mid-year. Many thought Gold’s run was finished, but then Gold shot up to tag our $1920 price target on the nose."

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Ted Butler: Don't Stop Complaining About Shorting of SLV - Ed Steer's Gold & Silver Daily

Ted Butler: Don't Stop Complaining About Shorting of SLV - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it

"I was taken aback by the volume numbers. As of 5:20 a.m. Eastern time, gold volume was only 18,500 contracts...and silver volume was only 3,300 contracts. This looks like 'real' volume to me...not a high-frequency trader in sight...and it looks like the beginnings of a short covering rally. It will be interesting to see how long this continues.

 

"With silver and gold cleaned out to the downside, it will be of interest to see who shows up on the short side of the trade when the next rallies in both metals begin, which they may in as I write this. After such historic cleanouts, which began on May 1st, I find it really hard to believe that the Commercial traders will be back on the short side of this market...and I wouldn't be at all surprised if the next rally is a short-covering rally instigated by the big Commercial traders themselves...JPMorgan et al. They may take the prices of both metals as high as the can get them without triggering new buying by the technical funds...and may also be on the buy side of any of the small Commercial traders that are dumping their long positions for a profit. If I were them, that's what I would be doing.

 

"This is one of Ted Butler's cherished dreams...that this scenario will occur...and the conditions as they exist today are ripe for such an event. We will find out, as they say, in the fullness of time."

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Look for an Entrance, Not an Exit - Casey Research

Look for an Entrance, Not an Exit - Casey Research | Gold and What Moves it. | Scoop.it
The current correction in gold and silver may not be over, but that doesn't mean it's time to sell.These data should actually give you some comfort. We've been here before. We've seen worse before.
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Oblivious Because of Mainstream Media | Greg Hunter’s USAWatchdog

Oblivious Because of Mainstream Media | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it

"I think most people are simply oblivious to the enormous dangers the world economy faces. Oh, I think we will all get through Christmas and New Years without a meltdown, but all bets are off in 2012. A new acquaintance of mine told me last Friday, “Isn’t the economy getting better?” I just looked at her and shook my head in the negative. Then she said, “I guess if it was getting bad, the media wouldn’t tell us the truth.” I shook my head in the affirmative. My new friend is 75 years old and gets a Social Security check every month. She’s pretty sharp, but I don’t blame her for being misinformed. She gets her news the old fashioned way—from the mainstream media (MSM)."

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Another Happy Tuesday

Another Happy Tuesday | Gold and What Moves it. | Scoop.it

"I read an article yesterday by Kevin Williamson. In it, he likened the MFing Global theft to this: Imagine you are a customer of a bank that went bankrupt. Your only exposure at the bank were the valuables you held in a safe deposit box. At bankruptcy, you would rightly expect your valuables to be returned to you. Instead, creditor banks of the failed institution are allowed access to the safe where they dump the contents of all of the deposit boxes onto a big pile on the floor. Then the creditor banks pick through the pile, claiming for themselves whichever assets they'd like to keep. Only after the "community pile" is picked over are you, the rightful owner, allowed access to whichever assets remain. Banks being banks, you'd be lucky to be left with anything of value."

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Gerald Celente - Sneak Peak of the Top Trends for 2012

Gerald Celente - Sneak Peak of the Top Trends for 2012 | Gold and What Moves it. | Scoop.it

“As the bankers take over, and we’re seeing what’s going on, they are throwing out democratically elected governments, we are forecasting there is going to be a severe decline in 2012, particularly in Europe. They are going to blame the problems in Europe as a reason for the problems going on over here (in the US). And we have our own (problems) that are as big as Europe’s, even bigger and better.

 

"So that brings us to the next trend, get ready for economic martial law. They are going to call a bank holiday. So what we are saying is conditions have become a lot worse. And a bank holiday is no holiday folks.

 

"You can’t get your money out and when you do get it out, you will get it out a little bit at a time. It’s going to be worth a lot less. That’s what they do with bank holidays, they devalue your money. So they are going to do it again.”

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Brett Arends: Will the Europeans have to sell their gold? | Gold Anti-Trust Action Committee

Brett Arends: Will the Europeans have to sell their gold? | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"China will be happy to scoop it all up.

 

"LONDON -- If the Italians can't persuade the bond markets to keep them in business, they have another card up their sleeve.

 

"Few people realize it, but Italy holds the world's fourth biggest stockpile of gold, at 2,452 tonnes.


"That's even more than France, and more than twice as much as China.

 

"Only the United States, Germany, and the International Monetary Fund hold more.

 

"The question here is whether some of the troubled European countries -- such as Italy and France -- are going to have to start selling off the national gold pile to meet their bills." 

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We are Witnessing a Historic Bottom in Gold: London Trader - Ed Steer's Gold & Silver Daily

We are Witnessing a Historic Bottom in Gold: London Trader - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it
I was quite happy to see both gold and silver rising on very light volume on Tuesday, as they had all the hallmarks of short-covering rallies.

 

"Since yesterday was the 20th of the month, The Central Bank of the Russian Federation updated their website with November's data. The bank purchased another 100,000 ounces of gold for their reserves, which now sit at 28.1 million ounces. Nick Laird provides his usual excellent chart"

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Presenting The Winners And Losers In The Ongoing Currency Wars | ZeroHedge

Presenting The Winners And Losers In The Ongoing Currency Wars | ZeroHedge | Gold and What Moves it. | Scoop.it
Rather than focus simply on the actual adjustments in the real effective exchange rates which shows the UK and US as having used monetary policy to devalue/weaken their currencies since the 2008 crisis really took shape, we look at an intriguing...

 

"Simply put, you can't grow fast enough, you can't cut rates, that leaves only one option (call it what you want), currency devaluation."

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James Turk - Gold Set to Close Higher for 11th Straight Year

James Turk - Gold Set to Close Higher for 11th Straight Year | Gold and What Moves it. | Scoop.it

With continued fears about the situation in Europe and gold and silver prices stabilizing, today King World News interviewed James Turk out of Spain to get his take on the situation. When asked about the ongoing crisis, Turk responded, “There is some stunning news today here in Europe, Eric. In an attempt to ease the dire liquidity situation affecting European banks, the ECB announced a 490 billion euro, three year financing. This is back door quantitative easing and clearly shows the money printing mentality at the highest levels of the ECB.”

 

[Huh... What did you say about gold? I was distracted by... ;-) ]

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Investors Lose Faith in Stocks As Billions Pour Out of Funds

Investors Lose Faith in Stocks As Billions Pour Out of Funds | Gold and What Moves it. | Scoop.it
Burned by two bubbles and facing another financial crisis, investors worldwide have lost the risk appetite for stocks, yanking $34 billion out of stock funds this year.

 

[Anyone surprised?]

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Eric De Groot: Monster Breakout of 2010 Already Forgotten

Eric De Groot: Monster Breakout of 2010 Already Forgotten | Gold and What Moves it. | Scoop.it

"Those that compress the time shorter than 2015 could very well see dispair rather than potential. F-TV headlines have been working overtime to paint gold and gold shares as dead. Judging by the tone of the mailbox, repetition of the message and a general inability to refute surface arguments has only agumented the growing doubt that the gold train has broken down.

 

"How easily the monster breakout in 2010 has been forgotten and replaced by headline fear."

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The Golden Truth: Rgold Is Golden: Sit Tight And Be Right (Or Add To Your Positions)

The Golden Truth: Rgold Is Golden: Sit Tight And Be Right (Or Add To Your Positions) | Gold and What Moves it. | Scoop.it

"I'm in a great mood right now to receive any news whatsoever that the CFTC is going to crack down on the illegal manipulation that has been going on in gold and silver futures trading on the Comex for a couple decades now. But I know that won't happen - just ask the customers of MF Global what they think about the willingness of the CFTC to enforce the law. And so the saga of the United States of Banana Republic continues. I'm really excited to receive the eventual newscast that shows Jon Corzine walking away from his MF Global crime with little or no consequences."

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Lots of gold and silver went missing at MF Global | Gold Anti-Trust Action Committee

Lots of gold and silver went missing at MF Global | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"It's one thing for $1.2 billion to vanish into thin air through a series of complex trades, the well-publicized phenomenon at bankrupt MF Global. It's something else for a bar of silver stashed in a vault to instantly shrink in size by more than 25%.

 

"That, in essence, is what's happening to investors whose bars of silver and gold were held through accounts with MF Global."

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Gold to remain volatile in the battle between QE and austerity

Gold to remain volatile in the battle between QE and austerity | Gold and What Moves it. | Scoop.it

"There are, to be sure, plenty of ways gold could rocket back up. The ECB talks tough, but the plans of the nations they hope will rescue the euro do not inspire much confidence. If it's really a crisis of existence, will the ECB sit back and allow a fracture? And what will be the reaction of policy makers and central bankers globally to the waves of deflation that will flow from Europe's chosen austerity?

 

"Either way, gold should continue to be highly volatile, a good indicator of how uncertain we are, collectively, about the solution to our economic fix."

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Confused About Falling Prices Of Gold and Silver? | Forexpros

Confused About Falling Prices Of Gold and Silver? | Forexpros | Gold and What Moves it. | Scoop.it
Commodities Analysis by Doug Eberhardt covering: MIND, UK 350 Banks, Silver, Gold. Read Doug Eberhardt's Commodities Analysis on Forexpros.
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Ted Butler: Don't stop complaining about shorting of SLV | Gold Anti-Trust Action Committee

Ted Butler: Don't stop complaining about shorting of SLV | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"Silver market analyst Ted Butler, who was complaining about manipulation of the silver market before GATA was formed to complain about manipulation of the gold market, today provides an update about the short position in the major silver exchange-traded fund SLV, which creates a vast but imaginary supply of silver and thereby suppresses the price, a short position that shouldn't be allowed, a short position overwhelmingly concentrated in the hands of JPMorganChase.

 

"Butler concludes: "Concentration on the Comex and the amount of short selling in SLV is stark, verifiable, and visible to all. Both will tell you all you need to know about the unusual behavior of the price of silver when analyzed with a common sense filter. But the greatest lesson of all is what all this short selling should tell you about the future behavior of silver prices."

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10 Bearish Predictions for Investors in 2012

At a time of daily stock-market seizures, weekly bank and sovereign debt downgrades and monthly central bank interventions, most people are seeing the glass half empty, and have forecasted bearish -- if not downright abysmal -- market conditions...

 

"1. U.S. Banks Will Experience "Contagion" of the Crisis in Europe"

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John Williams - Gold to Prevail as System Falls into Disorder

John Williams - Gold to Prevail as System Falls into Disorder | Gold and What Moves it. | Scoop.it

John Williams continues:

“My outlook has not changed a bit. The underlying fundamentals have not changed a bit. The domestic and global financial systems, however, appear to be on the brink of massive instabilities. This environment is one where prudent investors—in a U.S. dollar-denominated world—should be looking to preserve their wealth and assets, using assets that are liquid and that preserve the purchasing power of invested funds.

 

"Accordingly, gold, and related hedges such as silver; and stronger currencies such as the Swiss franc, Australian dollar and Canadian dollar; should be held for the long term. Irrespective of short-term market instabilities, such assets will prevail as the system falls into disorder."

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