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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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Ed Steer on Jim Rickards and Gold

Ed Steer on Jim Rickards and Gold | Gold and What Moves it. | Scoop.it

Ed Steer had this to say in the closing of today's daily:

 

"...it's obvious that the 'inflate, or die' news from the Bank of Japan had no impact on the gold price, at least not for moment. Jim Rickards is right...currency wars it is...and it's only a matter of time before the precious metal prices begin to reflect that."

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Jim Sinclair - CB’s Trying to Keep Gold from Rising Violently

Jim Sinclair - CB’s Trying to Keep Gold from Rising Violently | Gold and What Moves it. | Scoop.it

Jim Sinclair said to King World News:

 

"I am not a member of the school that believes central banks are trying to keep the price of gold from rising. Central banks are trying to keep the price from rising violently. Volatility is the key. Price is secondary to the volatility of the gold market as it challenges currency markets and creates an imperative to action.

 

"The attempts and activities of the central banks, in gold, is not by any matter of means to control price, as it is to control volatility. (This is being done so they don’t have to) unmask the mechanism of what is bringing to you a new monetary system. The mechanism is called liquidity. Gold is liquidity."

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Bank of Japan Sprays World With Surprising ¥10 Trillion Gift In Valentine's Day Liquidity | ZeroHedge

Bank of Japan Sprays World With Surprising ¥10 Trillion Gift In Valentine's Day Liquidity | ZeroHedge | Gold and What Moves it. | Scoop.it
In a move that will surely shock, shock, the monetary purists out there, the Bank of Japan has just gone and done what we predicted back in May 2011, with the first of our "Hyprintspeed" series articles: "A Look At The BOJ's Current, And Future,...
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Man Spends Time In Jail For Not Having A Dog License

Man Spends Time In Jail For Not Having A Dog License | Gold and What Moves it. | Scoop.it
A Jefferson County man was held in jail after refusing to get a license for his dog. Now he and his wife are fighting the fine in court.

 

{One wonders if we aren't getting into the overdone territory of taxation when we see more and more of these types of stories.}

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Peter Grandich's gold Update.

Peter Grandich's gold Update. | Gold and What Moves it. | Scoop.it

Peter had this to say about the gold market at the moment:

 

"The safe versus sorry long play on gold is to wait for two consecutive closes above $1800 (Point A) and have a mental stop just below the 50-Week M.A. (Point B)"

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Twitter

Silver Watchdog http://twitter.com/#!/Silver_Watchdog/status/169500416948711424
@Silver_Watchdog

US gold, silver ore production hits 20 year low in 2011 tinyurl.com/83x87s6

 

{Gee. I wonder what this will do to the supply and demand?}

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Moody's cuts ratings, outlooks on 9 EU countries

Moody's cuts ratings, outlooks on 9 EU countries | Gold and What Moves it. | Scoop.it
Moody's on Monday downgraded the debt ratings of Italy, Spain and Portugal and placed negative outlooks on France, Britain and Austria.
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Why Are Record Numbers Of Young Adults Jobless And Living At Home With Mom And Dad?

Why Are Record Numbers Of Young Adults Jobless And Living At Home With Mom And Dad? | Gold and What Moves it. | Scoop.it

"In the United States today, unemployment among those age 18 to age 34 is at epidemic levels and the number of young adults that are now living at home with Mom and Dad is at an all-time high. So why are so many of our young adults jobless? Why are record numbers of them unable or unwilling to move out on their own? Well, there are quite a few factors at work. Number one, our education system has completely and totally failed them."

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PERCEPTION OF RECOVERY | The Prospector Blog

PERCEPTION OF RECOVERY | The Prospector Blog | Gold and What Moves it. | Scoop.it

“THE MOST DANGEROUS UNTRUTHS ARE TRUTHS MODERATELY DISTORTED” GEORG CHRISTOPH LICHTENBERG

 

"Wouldn’t it be nice to believe in things we know not true? Who wouldn’t want to believe in a Santa flying around in a sled dumping off awesome gifts while we sleep? As adults, when we believe in something too much we sometimes find ourselves willing to overlook counter support or even realistic proof otherwise. As a gold advocate I often challenge myself to read articles counter to gold rising. To only study supporting information is nothing more than following masses and the gold masses usually sell gold (sometimes their opinions are bias if not scripted). The United States is slow to find physical gold and I can only attribute this to a false perception of recovery."

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

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

By James G Rickards:

 

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

 

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

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Permanent Gold Backwardation - Casey Research

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

 

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

 

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

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A Warning Flag For Silver

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

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

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Is Small Business Doomed?

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

 

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

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Trader Dan's Market Views: In Related matters...

Trader Dan's Market Views: In Related matters... | Gold and What Moves it. | Scoop.it

{this is absolutely sick}

 

"Take a look at the following story and tell me that we are not losing our freedoms in this nation. This is what Obamacare has wrought and what we can expect to see more of should Americans be foolish enough to empower this group of control freaks for another 4 years come this November."

 

"Preschooler’s Homemade Lunch Replaced with Cafeteria “Nuggets”


"State agent inspects sack lunches, forces preschoolers to purchase cafeteria food instead"

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Trader Dan's Market Views: Gold Shares continue to lose ground against gold itself

Trader Dan's Market Views: Gold Shares continue to lose ground against gold itself | Gold and What Moves it. | Scoop.it

Trader Dan:

 

"The gold mining shares, as evidenced by the HUI, continue to lose ground against the price of gold bullion itself. They are approaching the three year low in this ratio that was made 3 weeks ago. One would think that they would find some buying support soon for valuation reasons."

 

"...The mining shares are also now seriously underperforming the broader stock market continuing a pattern that has emerged since last summer."

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The politics of central bank gold holdings

The politics of central bank gold holdings | Gold and What Moves it. | Scoop.it

Julian Phillips writes:

 

DANGERS OF A NATION HOLDING GOLD IN ANOTHER NATION'S CENTRAL BANK

 

"In the last week we have heard the announcement that Iran has (according to them) 907 tonnes of gold. The developed world has just outlawed Iran dealing in gold and silver (there are other places, where if they wished to do so they will be able to trade). With their gold inside Iran, it is outside the reach of the developed world though. If they had held their gold in the world's main, developed world vaults that would have been frozen along with Iran's other overseas assets. We may not agree with Iran's politics and attitudes, but there is a lesson to be learned here.

 

"Ownership implies the freedom to do what you want with an asset. In this case we are talking about a nation's assets. The handling of Iran's assets by freezing of their assets shows that other nations can interfere with that freedom. Governments feel free to impose restraints on other people's assets within their jurisdiction. It is this concept of a right to restrain the rights of ownership that will prove a growing issue.

 

"With the world changing from an under-developed world with a developed world to an emerging world drawing down power and wealth from the developed world, there are many changes taking place which will lower the levels of international cooperation in the days ahead as political, religious, monetary and economic pressures rise.

 

"One nation that has foreseen these pressures coming is Venezuela."

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Pictures From A Greek Soup Kitchen | ZeroHedge

Pictures From A Greek Soup Kitchen | ZeroHedge | Gold and What Moves it. | Scoop.it
While we mock and ridicule the corrupt and often times purposefully obtuse Greek politicians, we often ignore the human cost in the equation (and so does the rest of the world).
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Richard Russell - A Bitter Pill to Swallow, Austerity or Inflation

Richard Russell - A Bitter Pill to Swallow, Austerity or Inflation | Gold and What Moves it. | Scoop.it

Richard Russell tells King World News: 

 

"The world has drunk at the punch-bowl of good times and debt ever since World War II. The world has avoided the discipline of pay-as-you-go and austerity for decades. But sooner or later the piper must be paid. Up to now, the piper has been ‘paid’ with vast amounts of fiat paper.

 

"The politicians want to make the people happy. The Fed is beholden to the politicians. The voters want it all, and they don't like pain. The Fed and the politicians want to make the voting public fat and happy causing as little pain as possible."

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Gold Heading Back Towards A Monetary System, Not Away « Jim Sinclair's Mineset

Jim Sinclair has another editorial today that is a must read. Here's a snippet:

 

"The fact that gold is money and not a commodity is the safety latch that opens on its own when all other forms of money close. Gresham’s Law is human nature seeking a standard when all other forms of exchange have mutated to casino chips with national flags on them. Increasing world liquidity multiplies itself in increasing volatility of all things traded until an epic moment when over the top volatility convinces even the most economically ignorant that only a standard that cannot be multiplied by an instant Bernanke helicopter unlimited electronic monetary liquidity system is honest money. It is the flight from the burning values in terms of purchasing power of the casino chips called fiat currency towards a standard that proves Professor Gresham’s Law. It is a study of history that repeatedly shows his thesis that good money, honest money, forces out bad money."

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White House Economic Adviser: 'We Need a Global Minimum Tax'

White House Economic Adviser: 'We Need a Global Minimum Tax' | Gold and What Moves it. | Scoop.it
Gene Sperling, director of the White House's national economic council, said today at an official meeting that 'we need a global minimum tax':...

 

{And so it begins.}

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YOU LIE!!!!! « Blogger's response to President's FY13.

YOU LIE!!!!! « Blogger's response to President's FY13. | Gold and What Moves it. | Scoop.it

"The budget Obama just submitted for FY13 is a bad joke. He will have no problem spending the $3.8 trillion in his budget. That’s a given. His budget for revenue is a pie in the sky lie. He knows it. I know it. You know it. He declares that he will collect $1.36 trillion of individual income taxes and $348 billion of corporate taxes. Does this pass the smell test?"

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oftwominds-Charles Hugh Smith: The First Dominoes: Greece, Reality, and Cascading Default

oftwominds-Charles Hugh Smith: The First Dominoes: Greece, Reality, and Cascading Default | Gold and What Moves it. | Scoop.it

Greece is the epicenter of a drama that threatens to unwind with all the intrigue and subterfuge of ancient Greek myths and tragedies. As with the legend of Icarus, big, and now bigger, transnational banks provoked the gods with their wax-and-feather financial fabrications to create the appearance of soaring wealth. Now that they have flown too close to the sun and their wings have melted, these banks are being brought to earth by the obligations and consequences imposed by their fabrications.

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

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

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

 

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

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Two Charts On The European Growth Dilemma | ZeroHedge

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

 

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

 

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

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Greece: European or Not?

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

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

 

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

 

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


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

 

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

 

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