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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Remember Fukushima: Presenting The Radioactive Seawater Impact Map | ZeroHedge

Remember Fukushima: Presenting The Radioactive Seawater Impact Map | ZeroHedge | Gold and What Moves it. | Scoop.it
A few days after the one year anniversary of the Fukushima disaster, nobody talks about it anymore. After all it's "fixed", and if it isn't, the Fed will fix it. Remember in the New Normal nothing bad is allowed the happen.

 

{Yeah. But should we be scared? Have to admit it gives me the creeps.}

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Jim Sinclair: Is The Fed Selling Europe’s Gold During Interventions, Gold Dive & What’s Next

Jim Sinclair: Is The Fed Selling Europe’s Gold During Interventions, Gold Dive & What’s Next | Gold and What Moves it. | Scoop.it

Audio interview with Jim Sinclair by Eric King on King World News.

 

Always worth a listen.

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Twitter / Hedgehog Trader: Watching Nadler and Gartma ...

Watching Nadler and Gartman share their #gold 'expertise' is like watching an endless loop of Dumb and Dumber.
Mar 16 via web Favorite Retweet Reply

Watching Nadler and Gartman share their #gold 'expertise' is like watching an endless loop of Dumb and Dumber.

 

{LOL Too funny!}

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Dylan Grice Explains When To Sell Gold | ZeroHedge

Dylan Grice Explains When To Sell Gold | ZeroHedge | Gold and What Moves it. | Scoop.it
Following the latest temporary swoon in gold, the PM naysayers have once again crawled out of the woodwork, like a well tuned Swiss watch (made of 24K gold of course).
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India Doubles Customs Duty on Gold Bullion, Central Banks buy on Dip | ZeroHedge

India Doubles Customs Duty on Gold Bullion, Central Banks buy on Dip | ZeroHedge | Gold and What Moves it. | Scoop.it

India Doubles Customs Duty on Gold Bullion, Central Banks buy on DipGold’s London AM fix this morning was USD 1,649.00, EUR 1,263.02, and GBP 1,049.05 per ounce.

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"The Black Swan" author Nassim Taleb Cheers Ron Paul's Economic Platform on CNBC

From an interview on CNBC 3/13/2012...
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Pierre Lassonde - Why Gold Could Spike 20% in a Day or Two

Pierre Lassonde - Why Gold Could Spike 20% in a Day or Two | Gold and What Moves it. | Scoop.it

With so much worry surrounding the gold and silver markets, today King World News interviewed legendary Pierre Lassonde, to get his thoughts on what to look for going forward. Pierre is arguably the greatest company builder in the history of the mining sector. He is past President of Newmont Mining and past Chairman of the World Gold Council and current Chairman of Franco Nevada. When asked about the plunge in gold, Lassonde responded, “There’s no cliff here. There’s no need to panic whatsoever. First of all, let’s take a look at where we came from. We came from $250 ten years ago, to $1,600 to $1,700 today. That is a remarkable feat for the gold price.

 

"The mania phase is always the last phase of a bull market. I believe we are going to see that. I (also) believe it will mostly be of Chinese origin. Today over 50% of all of the gold sold on a yearly basis is sold in two countries, China and India. The is where it (the mania) will start.

 

"What can we expect? I think we can expect fireworks...."

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The Golden Truth: Use This Sell-off To Prepare For The Next Big Fundamental Move Higher

The Golden Truth: Use This Sell-off To Prepare For The Next Big Fundamental Move Higher | Gold and What Moves it. | Scoop.it

Dave in Denver:

 

"I have traded and observed every single manipulated Comex paper gold/silver open interest liquidation sell-off since this bull market began over 10 years ago. This open interest liquidation sell off started last year at the end of April. At this point in the cycle the percentage size of the correction is not as severe as a couple of the past liquidation cycles. We are getting near the end. The open interest peaked last April at over 160,000 silver contracts. The o/i bottomed in December around 90,000. The o/i bounce quickly to around 118k. A lot of this was momentum money and this is the open interest long position that JP Morgan makes an illegal living off of. This latest hit is JP Morgan's manipulated hit on the market working off the latest round of "hot" money jumping in the market to try and get the ride in silver from $31 to $34. Those traders are losing money on their long positions and - based on my reading of yesterday's o/i - have started to short the silver market. This is when JP Morgan will cover and the market will move higher again. Likely much higher.

 

"How can the CFTC and SEC regulators allow JP Morgan to do this repeatedly over 10 years? You don't believe it? Well then I guess you don't believe MF Global was product of corruption and Government enablement and disbelievers are therefore okay with the MF Global tragedy. But the fact of the matter is that the Government entities that were supposed to regulate and prevent - and prosecute in the event of broken laws - MF Global from happening are the same Government enforcement agencies that regulate the Comex. Ultimately the market will prevail, as it has for 5.000 years..."

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The "New Normal" American Dream Of Renting Is About To Become Very Expensive | ZeroHedge

The "New Normal" American Dream Of Renting Is About To Become Very Expensive | ZeroHedge | Gold and What Moves it. | Scoop.it

"We have a squatter epidemic. There are millions of 'homeowners' currently living mortgage-payment-free (by choice) who will soon be forced (as the foreclosure process ramps up post-settlement) to pay rent (since they will not qualify for a mortgage). This will have the double whammy effect of reducing overall discretionary consumption spending (as rent is greater than 'free' - unless the cardboard box is preferable) and driving inflationary forces into rental costs (something we are already seeing). Of course these are the much larger second-order effects and we will only be told of the primary benefits of clearing foreclosure inventory, but at the margin (along with gas prices) the household will have less discretionary iPad-buying ammunition as opposed to more..."

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Eric De Groot: False Breakdown In Gold Shares

Eric De Groot: False Breakdown In Gold Shares | Gold and What Moves it. | Scoop.it

Eric De Groot:

 

"Richard Wyckoff made millions by being able to recognize false breakouts and breakdowns. He recognized that relative volume was the key to this recognition. A breakout from significant resistance (or support) on contracting volume increased the probability that price would return to the previous trading range once short-term momentum broke.

 

"Wyckoff would classify recent action in gold shares as a false break down. The gold shares generated a climax bottom on October 4th on 29.6 million shares. This bottom has been tested twice. The first test came on December 29th on 12.1 million shares or 59% contraction in volume..." click over for the rest and the graph.

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The Obama Flag: Who Decided That It Was Okay To Replace The Stars On The American Flag With The Face Of Barack Obama?

The Obama Flag: Who Decided That It Was Okay To Replace The Stars On The American Flag With The Face Of Barack Obama? | Gold and What Moves it. | Scoop.it
Democrat Party headquarters in Lake County, Florida has been flying an American flag with a face of Barack Obama on it.  Yes, you read that correctly.  The...

 

{I don't care if it's a Democrat, Republican, or Independent face on that flag. It's wrong and frankly I find it disturbing that we are raising such people such high levels. Do we not remember how this has doomed other societies?}

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Peter Schiff Blog: I Don’t Think Either The United States Or China Does Capitalism All That Well

Peter Schiff:

 

"First of all, I don’t think either the United States or China does capitalism all that well. America did capitalism a lot better in the 19th century than China does it now, but today, China does it better than we do. Though both countries have far too much government involvement in the economy, we have more. They’re Communists, supposedly, and we’re not, but our government screws up our economy more than the Chinese government screws up its. - in Slate."

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Twitter / Jim Rickards: Lots of buzz about #GregSm ...

Lots of buzz about #GregSmith op-ed on #Goldman today. I wrote the same thing 2 yrs ago http://t.co/wGyCjgiO. "That's the scorpion talking"
Mar 15 via web Favorite Retweet Reply

Lots of buzz about #GregSmith op-ed on #Goldman today.
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Eurocrats Carry On Up The Khyber, Determined and Delusional, says Farage

Donate to UKIP: http://www.ukip.org/donations | http://www.ukipmeps.org | http://twitter.com/#!/Nigel_Farage • European Parliament, Strasbourg, 13 March 2012...

 

{Nothing has changed since the first crisis. Things are the same. The majority of our political leaders are sticking their heads in the sand. Hat tip to Jim Sinclair: http://www.jsmineset.com/2012/03/15/eurocrats-carry-on-up-the-khyber-determined-and-delusional-says-farage/ }

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Fitzwilson: Hyper-Devaluation, the Electronic Age & Gold

Fitzwilson: Hyper-Devaluation, the Electronic Age & Gold | Gold and What Moves it. | Scoop.it

"March 16 (King World News) - For most of us alive today, the currency in our wallets has always functioned as a medium of exchange. It will do so going forward. Where one could find fault with it would be as a form of wealth preservation.

 

"As we have discussed before, the value of a dollar has declined by about 95% in the last 100 years. This decline has been mostly gradual and almost invisible. Most people did not care as their wages were rising. From the mid-‘70s until the latter part of the last decades, home prices were also rising which offset the decline in the currency and then some.

 

"Both of those factors no longer apply. We all know that wages have not been rising and the housing market is in shambles. The decline in the currency is now being felt, particularly at the grocery store and at the filling station.

 

"As defined by a rate of decline of 50% per month, all of the world’s experiences with “hyperinflation” have occurred in the last 100 years. Stories abound about the experiences in post-WWI Germany with wheelbarrows full of money, and people racing around their cities frantic to exchange the paper for any real goods that they could find...."

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Is #gold now the contrarian play?

Is #gold now the contrarian play? | Gold and What Moves it. | Scoop.it

Geoff Candy:

"...And, here is where we run into problems once again. As mentioned earlier in the piece, many of the fundamental reasons gold rose in the first place remain.

 

"As Grice writes, "The reason I own gold is because I'm worried about the long-term solvency of developed market governments."

 

"The Fed's latest pronouncements about the lack of a need for a new round of quantitative easing may be a bullish signal from a short term growth point of view but, it doesn't solve the underlying problem - that the US and, by extension , the Western world cannot go on living beyond its means in perpetuity.

 

"The problem is that the truth of that statement isn't a particularly attractive one politically, which is why most politicians are happy to make it someone else's problem.

 

"For Grice, eventually politicians will make the hard choice of short-term pain for long-term gain because there will be just no other choices left. When this happens, he says, that will be the time to sell gold.


"Until then, by implication, it is probably worth having some insurance - just in case."

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Gold under pressure from India`s import duty rise

Gold under pressure from India`s import duty rise | Gold and What Moves it. | Scoop.it

Amanda Cooper, London, Reuters:

 

"Gold eased on Friday, caught up in its largest weekly decline in three months, after top consumer India said it would double import duties on bullion and upbeat U.S. data this week fed optimism over the global economy, boosting risk appetite.

 

"The bullion market relies heavily on Indian jewellery demand. Last year, the country imported a record 969 tonnes of metal and in January, raised the import duty by 90 pecent.

 

"Finance Minister Pranab Mukherjee said the strong growth in imports had played a key role in widening India's current account deficit."

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Watch Bernanke’s ‘Little’ Inflation Capsize U.S.: Shlaes

Watch Bernanke’s ‘Little’ Inflation Capsize U.S.: Shlaes | Gold and What Moves it. | Scoop.it
A little is all right. That’s the message Federal Reserve Chairman Ben S. Bernanke has been giving out recently when asked about the evidence of inflation in the U.S. recovery.

 

Amity Shlaes:

 

"The thing about inflation is that it comes out of nowhere and hits you. Monetary policy is like sailing. You’re gliding along, passing the peninsula, and you come about. Nothing. Then the wind fills the sail so fast it knocks you into the sea. Right now, the U.S. is a sailboat that has just made open water, and has already come about. That wind is coming. The sailor just doesn’t know it.

 

“Sudden” has happened to us before. In World War I, an early version of what we would call the CPI-U, the consumer price index for urban areas, went from 1 percent for 1915 to 7 percent in 1916 to 17 percent in 1917. To returning vets, that felt awful sudden.


"How did it happen? The Treasury spent like crazy on the war, creating money to pay for it, then pretended that its spending was offset by complex Liberty Bond sales and admonishments to citizens that they save more..."

 

{Hat tip to Peter Grandich: http://www.grandich.com/ }

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Bank of America: Too Crooked to Fail | Politics News | Rolling Stone

Bank of America: Too Crooked to Fail | Politics News | Rolling Stone | Gold and What Moves it. | Scoop.it
The bank has defrauded everyone from investors and insurers to homeowners and the unemployed. So why does the government keep bailing it out?

 

{Great piece by Taibbi. Click over to read.}

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Economics of the Timeline

Economics of the Timeline | Gold and What Moves it. | Scoop.it
Most of us hadn't thought about Davy Jones of the Monkees in many years.

 

This is a snippet from a thoughtful piece from Jeffrey Tucker:

 

"The Austrian economists tell us that other economic theories are nearly brain-dead when it comes to thinking about the passage of time and its role in the institution of capital. This is one of many reasons that they miss an extremely important point about Federal Reserve policy. That is, by manipulating the interest rates, the Fed is playing with the signaling system that tells investors and capitalists how much they can plan ahead — how much “real stuff” is available to cause their plans to work out.

 

"In this way, a manipulated rate like we have today is nothing but a lie. It tells capitalists to borrow and plan when the resources aren’t really available to justify that. It tells us that there are huge reserves available to support future consumption, whereas they aren’t really there. As a result, the finely calibrated singling system of capital markets isn’t really functioning as it should..."

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How High Can the Fed Pile Manure? | ZeroHedge

How High Can the Fed Pile Manure? | ZeroHedge | Gold and What Moves it. | Scoop.it
 A U.S. banking system that is being held aloft solely by hot air and brazen lies took an ebullient leap toward November 6 yesterday with the release of an Administration-friendly Fed report declaring most banks sufficiently capitalized to weather...

 

Rick Ackerman:

 

"And while it’s true that gold and silver futures got sacked yesterday, we see the weakness as merely corrective rather than impulsive. Even conceding that bullion could remain under pressure if our own, extremely bullish forecast for the dollar pans out (click here to access all of our forecasts free for a week), we very strongly doubt that precious metals have seen their bull market highs. And keep in mind that the dollar is not “strong” in the sense of being sound; rather, it is in demand because global managers of Other People’s Money believe it will be the “last man standing” when Europe’s inevitable financial collapse occurs. We agree but only up to a point, since it’s quite possible the smart money may only have an hour or two to react to Europe’s implosion before it takes the dollar and all of our banks down with it."

 

{Can you smell the stench from DC yet?}

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Twitter / Laura Gross: The fundamentals for #gold ...

The fundamentals for #gold have not changed. QE in some form or another will continue.
Mar 15 via web Favorite Retweet Reply

The fundamentals for #gold have not changed. QE in some form or another will continue.

 

{It most certainly will. Nothing has changed except that we are deeper in the debt prison we are fashioning for ourselves. Be your own central banker.}

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Gold Stock Speculating Amongst Fools

Gold Stock Speculating Amongst Fools | Gold and What Moves it. | Scoop.it

"Investing, and in particular speculating, can be said to be the art of attempting to guess how stupid most people will be and position yourself to profit from it.

 

"This has been the case more so than usual lately as the precious metals and gold and silver stocks have pulled back yet again despite there being no valid fundamental reason for them to do so. However, we here at TDV had predicted this possibility and so we are not surprised to see the gold stocks have been sent back out to the woodshed again this week.

 

"...Will the juniors pull back to their December lows? Ed doesn't think so and he'll have much more on that to subscribers in the next TDV Interim Update out early next week.

 

"But, where it goes between here and the December bottom is anyone's guess. It's just a matter of how stupid the fools can be in believing that gold and gold stocks are not the place to be at a time of near universal money printing and massive government debt."

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oftwominds-Charles Hugh Smith: We Have No Other Choice

oftwominds-Charles Hugh Smith: We Have No Other Choice | Gold and What Moves it. | Scoop.it

A hearty, "Preach it!" to Charles Hugh Smith. I so agree:

 

"I have long thought that America Is Just Going Through the Motions--of caring about the deficit, of financial "reform," and everything else:

 

"Let's be honest, shall we? There never was any fire for real reform of the financial sector. It was all rote, a foul, stupid play-act, a passionless pantomime of "caring" and fake-"progressiveness" displayed for propaganda purposes.

 

"I now think we're just going through the motions because we have no other choice than to "extend and pretend" the Status Quo. Choice is of course a matter of perception, a situation where perception defines what is "possible" and what is "impossible."

 

"Interestingly enough, the "possible" is what we think we can manage, while the "impossible" is what happens to us whether we thought it possible or not..." click over for the rest on his blog.

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The Relationship Between Gold and Interest Rates | Steve Saville | Safehaven.com

The Relationship Between Gold and Interest Rates | Steve Saville | Safehaven.com | Gold and What Moves it. | Scoop.it
This week's downside breakout in the T-Bond futures market and the associated rise in the T-Bond yield has prompted us to re-visit the relationship between gold and interest rates.

 

Steve Saville:

 

"The interest rate backdrop hasn't become any less bullish for gold as a result of this week's downside breakout in the T-Bond and the associated rise in long-term interest rates, but the sharp decline in the gold price on 13th and 14th of March was almost certainly related to what was happening in the bond market. It seems that some speculators have exited long positions or initiated short positions in gold based on the belief that a substantial upward trend in the REAL interest rate has just begun. This belief is unfounded, because sustaining the illusions that the US economy is recovering and that the US government can make good on its debt requires that the real interest rate be kept in negative territory.

 

"A higher real interest rate would actually help the US economy by precipitating a proper cleansing process involving the liquidation of all bad investments and insolvent corporations. However, anyone who has been paying attention over the past few years would realize that monetary policymakers in the US, as well as in Japan, Europe and the UK, are committed to doing whatever it takes to avoid such a process. The goal is to make the economic situation as painless as possible in the short run, regardless of the negative longer-term consequences.

 

"This goal isn't going to change anytime soon, which means that a negative real interest rate is here to stay and that this week's drop in the gold price is just another blip in the long-term bull market."

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