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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US private gold exports rise in December

U.S. gold exports to Hong Kong has been steadily increasing in the past several years as wealthy Asian individuals looked to diversify their portfolios into gold.

 

WASHINGTON(BullionStreet): Asia accounted for a major part of the 20 tons gold exported from the US, highest total and the biggest month-on-month jump in U.S. private gold exports since September 2011.

 

According to US Commerce Department gold exports played an important role in narrowing the shrinking trade deficit during the month of December.

 

Country's exports of non monetary gold, which excludes central bank transactions, soared by 43 percent to $4 billion in December from the previous month. ...

Hal's insight:

Put that in your pipe and smoke it. Oh weight. You mignt have a problem find some shortly.

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The Coming Debt Limit Drama: Government Wins, We Lose | Ron Paul | Safehaven.com

The Coming Debt Limit Drama: Government Wins, We Lose | Ron Paul | Safehaven.com | Gold and What Moves it. | Scoop.it

by Ron Paul:

 

"

Last week President Obama bluntly warned Congress that he will not negotiate when it comes to raising the statutory debt limit. If Republicans attempt to use a debt ceiling vote to win concessions on spending from the White House, Mr. Obama threatens simply to raise the limit by executive order or other unilateral action.

 

This is business as usual in Washington. Democrats literally do not believe we have a deficit and debt problem, and reliably propose greater borrowing and spending. Republicans talk a good game when it comes to government debt, but have no credibility to argue against deficits or abuses of executive power. Brinksmanship ensues, and ugly compromises are reached at the 11th hour. We all lose as the endless borrowing and money printing further erode our dollar and our economy.

 

Keep in mind that the federal government relentlessly spends about $100 billion more each month than it collects in taxes. This means roughly 40% of every dollar Washington spends is borrowed, to be "paid back" only in highly devalued, newly created money. Ultimately this can only lead to the destruction of the US dollar, as history plainly teaches. But in the face of this reality Obama just shrugs, turning to demagoguery and talk of little old ladies' Social Security checks  . Like Obama, far too many Americans view federal debt as a nonissue. Consider Paul Krugman, America's most reliable Keynesian economist and a beloved figure among mainstream journalists. He recently wrote an article  about the debt limit issue, in which he discussed a controversial proposal to have the federal government simply create a platinum coin with a face value of $1 trillion ..."

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Shelter from The Coming Storm - Gold, Silver, and Real Assets | GE Christenson | Safehaven.com

Shelter from The Coming Storm - Gold, Silver, and Real Assets | GE Christenson | Safehaven.com | Gold and What Moves it. | Scoop.it
What Storm?A hurricane of digital money created by central banks to purchase government debt and other dodgy assets from banks.A tidal wave of deficit spending by governments around the world. It continues, regardless of whether you call it business as usual, stimulus, payoffs, or bailouts.A perfect storm of derivatives - the weapons of mass financial destruction that continue to plague our financial system - but make $Billions (Maybe $Trillions) in profits for the huge banks.A tornado of bailouts, giveaways, loans, and currency swaps from the Federal Reserve to backstop banks, politically connected individuals and corporations, European governments and others.An approaching thunderstorm of new and higher taxes - perhaps a carbon tax, a VAT, and a wealth tax. We hope most of these will be downgraded to a hot air disturbance.A tsunami of Japanese Yen based on the election of Prime Minister Abe and his avowed intention to weaken the Yen.

Why Do We Need Shelter?
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oftwominds-Charles Hugh Smith: Misunderstanding Austerity, Stimulus and Demand

oftwominds-Charles Hugh Smith: Misunderstanding Austerity, Stimulus and Demand | Gold and What Moves it. | Scoop.it

Keynesian policy requires an expansionist Central State and Bank bent on imposing central planning on every level of the economy. Keynesians are natural partners with the neofeudal financial Aristocracy which benefits so enormously from Keynesian print-borrow-blow policies.


Here is the standard Keynesian cargo-cult analysis of our economic woes:
1. The problem is a lack of aggregate demand, i.e. people buying stuff and services.2. As a result, the economy is running below capacity, i.e. economic output is below potential.3. The solution is fiscal and monetary stimulus, i.e. the Central State borrowing and spending trillions on politically directed programs and the Federal Reserve printing and injecting trillions of "free money" dollars into the financial sector to boost borrowing and lending. The cargo-cult program has failed for a number of fundamental reasons. Let's illuminate these reasons with a few thought experiments. 1. If we borrow or print $1 trillion and bury it in the ground, how much demand does it create? Answer: none, of course; it just sits there, utterly inactive. The Fed has printed around $2 trillion and made huge sums available to the financial sector at 0% interest. Most of the funds are sitting in the Fed as reserves, doing nothing except earning interest for the banks who borrowed it at 0%. ...
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This Is About To Rock The Financial World

This Is About To Rock The Financial World | Gold and What Moves it. | Scoop.it

Eric King:  “Kevin, I know you’ve been communicating with many of the sovereign wealth funds overseas.  What are you hearing from them?”

 

Sprott Inc. President Bambrough:  “The burning question that I always have, I’m amazed at their ongoing willingness to continue to accumulate, and hold, such large amounts of US denominated bonds.  It’s been my view that they are basically playing a Ponzi scheme.

 

I’ve had that confirmed when I’ve had long discussions with different sovereign wealth funds and different government agencies around the world.  They’ve been willing to play this game, but more and more now, as their domestic economies have grown and the US portion of their exports becomes smaller, and with the amount of T-Bills that they have (already) accumulated, I believe they’ve reached the boiling point where they are really going to be unwilling to grow their reserves (of US Treasuries).

 

Just the process of not growing their reserves is going to be very disruptive.  If they are not willing to accumulate more T-Bills, this is going to force the trade deficit closed.  I think that is really going to rock the financial world at some point in the near future.

Hal's insight:

click over for the rest of the King World News. I've been wondering about this for some time mysefl, musing that once this begins to pick up steam around the globe that the fear will break out in DC. Pretty much because the emperor will be shown to have no clothes.

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$1 trillion platinum coin hogwash – if it should happen buy gold and silver

$1 trillion platinum coin hogwash – if it should happen buy gold and silver | Gold and What Moves it. | Scoop.it

How anyone can suggest the creation of a $1 trillion platinum coin purely to circumvent checks on government spending defeats all logic and its creation would presage a flight into gold and silver.


by Lawrence Williams:


LONDON (MINEWEB) - 

Far be it for me to argue with a Nobel prizewinning economist, members of Congress and however many thousands have signed the White House petition to mint it, but this whole idea of a trillion dollar platinum coin is ludicrous.

 

It would have to constitute the most gigantic fraud ever perpetuated by a government and probably make the U.S. dollar and the U.S. economy the laughing stock of the world.  If anything, it would trigger a huge investment surge into gold and silver as all faith in government-created money would evaporate!

 

Firstly – why platinum?  It is based on a legal technicality allowing the U.S. to mint platinum coins of any face value.  However, given that $1 trillion dollars worth of platinum at current prices represents around 8 or 9 times the amount of platinum ever mined throughout history, a trillion dollar face value coin would have to bring any kind of money creation into even more disrepute than it already is. ...


Hal's insight:

Click through for the rest of Williams's article. But I agree. it's hogwash. Or is that putting lipstick on a pig?

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Charles Hugh Smith: The Rising U.S. Dollar Will Be Corporate Earnings/Market-Negative

Charles Hugh Smith: The Rising U.S. Dollar Will Be Corporate Earnings/Market-Negative | Gold and What Moves it. | Scoop.it

Many large U.S. corporations derive 50%-65% of their revenues overseas. As the U.S. dollar rises, the foreign-exchange boost to overseas profits of the past decade will reverse.


One of the most glaring omissions in mainstream financial-media stock market commentary is the connection between the U.S. dollar's relative value and corporate earnings. I have often commented on this bullish consequence of a weakening dollar.  50%-60%+ of global corporate earnings and profits are non-U.S., i.e. booked overseas in a currency other than the U.S. dollar (USD). As the dollar weakened, global corporate profits skyrocketed as earnings in euros, yen, etc. rose when stated in dollars. In other words, overseas profits expand as if by magic when stated in dollars. When the euro and the dollar were 1-to-1 back in the early 2000s, then 100 euros of profit converted to $100 when stated in dollars. When the euro rose to $1.60, then the same 100 euros of profit earned by the U.S. corporation in Europe converted to a stupendous $160 in profit when stated in dollars. This explains why the Fed has been so keen to ...
Hal's insight:

It's all about currency wars folks. Click over for the rest of Smith's piece and charts.

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There Is No Way… « Jim Sinclair's Mineset

My Dear Friends,


There is no way that any entity, be it private, public or both, is going to manipulate away the debt situation faced today. 

 

There is no way that the US is going to become a net exporter of energy in amounts that could even slow down this rate of growth in the debt. 

 

There is no way this flat line recovery is going to turn into a boom in business. 

 

There is no way that the unemployment figures are going to have a sustained improvement short of all the unemployed giving up hope and shifting to the underemployed list. 

 

There is no way that you can set such records in increased liquidity and not have explosion inflation regardless of business activity. 

 

There is no way that the Fed can liquidate its holdings of treasuries in an orderly manner without collapsing the Treasury market. 

 

There is no way the Fed can liquidate any toxic paper it took on from banks internationally in the crisis of 2008. 

 

There is no way the Fed can step away from QE which would mean higher interest rates without collapsing the flat line so called economic recovery. 

 

There is no way any human being could answer thousands of emails that are now overwhelming me.

 

I am deeply grateful for those CIGA around the world that browse for me, helping me keep in present time with all the unfolding monetary matters globally.

 

Whiners need only read the opening here to know that this is a passing but well constructed manipulative cloud. Those that are trying simply to frustrate me by sending emails cursing my genes that I was born are simply wasting their time and entering the spam blocker.

 

There is however a take away from this. Last night was the first time I went to sleep with a long list of incoming emails. I have no one to help me with emails because only I can answer them. For the first time, I must tell you that other than corporate emails I can no longer promise you prompt or even answers. I have a company to run, and that is my first order of business and that has always been and is my first order of business.

 

Sincerely, 
Jim

Hal's insight:

You won't find me in disagreement.

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David Morgan: Debt Insanity | The Victory Report - Precious Metals Media and More

David Morgan: Debt Insanity | The Victory Report - Precious Metals Media and More | Gold and What Moves it. | Scoop.it
Gold and Silver News Daily

 

You CAN’T Solve a Massive DEBT Problem by Adding to the DEBT!

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The Golden Truth: Germany Pays A Visit To The United States

The Golden Truth: Germany Pays A Visit To The United States | Gold and What Moves it. | Scoop.it

On Germany wanting their gold back and having to wait seven years, Dave in Denver writes:

 

... The most likely scenario is that, while it's possible, though not a certainty,  that the bars may be sitting in the West Point deep storage Fed gold vault, it has been leased out and swapped out in legal transactions designed to manipulate the price of gold.  What this means is that private parties (think:  China's central bank, very wealthy foreigners, India, etc) have the legal title to any gold that has been leased or swapped and sold outright. ...

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Why It’s Taking 7 Years For Gold To Be Returned To Germany

Why It’s Taking 7 Years For Gold To Be Returned To Germany | Gold and What Moves it. | Scoop.it

Today acclaimed money manager Stephen Leeb told King World News the reason Germany is only getting small portions of their gold sent to them over the years is because the gold is not at the Fed.  Leeb also believes the United States is now running out of physical gold to sell in their price suppression scheme.  Here is what Leeb had to say:  “There are two main parties engaged in a battle for economic and monetary supremacy in the world.  This is China vs the United States.  Interestingly, at least for a period of time, both countries don’t want to see the price of gold take off.


"The Chinese don’t want to see the price of gold take off because they still want to buy a lot of it.  The Chinese took in at least 1,000 tons of gold last year, and maybe even more.  This total represents Hong Kong imports plus their own production.

 

"This year the Chinese are really going to play the game much more aggressively with these Shanghai markets that are going to have international players actively trading in them.  They will also trade derivatives, and the Chinese will accumulate gold through their new ETF. ..."

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Barring a Debt Ceiling Solution, the US Will Begin Defaulting on February 15 2013 | Zero Hedge

We’ve now have just a little over 30 days until US breaches its debt ceiling.

 

We would have already done so, except Treasury Secretary Tim Geithner borrowed some $200 billion from emergency funds to buy a few weeks’ time (announcing that he’d be leaving his post before the actual ceiling was breached).

 

The “solutions” to the debt ceiling discussions range from outright insane ($1 trillion coins) to just staggeringly irresponsible (just get rid of any oversight and grow the debt without restriction).

 

Let us consider the facts.

 

The only reason the US is even having these discussions is because we’ve added $1+ trillion in debt to our balance sheet every year since 2008. The reason we were able to get away with this was because Congress hasn’t even implemented a budget since that time. Indeed, the last time a budget was even proposed (by President Obama in that case) it was rejected 97-0.

 

Let’s say a US family spent all of its savings and income and so began using credit cards to fund its purchases. Then, instead of implementing reforms and a budget, these folks decide to abandon any kind of tracking of their expenses and start spending even more. Eventually this family would begin to stop paying its bills. ...

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The Reasoning Behind Basel Three Liquidity Requirement Delays « Jim Sinclair's Mineset

My Dear Friends,


The entire reason for the agreed delay of the Basel Three liquidity requirements is the Western financial system’s balance sheets. They are cartoons because of FASB blessing of debatable values for paper assets such as OTC derivatives with absolutely no market relationship.

 

Put succinctly, the Western world financial system simply does not have the ability in terms of real liquidity to meet Basel Three requirements. That is the entire story. The tomes written on this should be but one line – bankrupts cannot meet liquidity requirement now or in two years from now.

 

Add this to the news that a derivative dealer out of Citi has been proposed as Secretary of the US Treasury and my conclusion is that in truth, "Father forgive them because they (our esteemed leaders) really do not know what they have gone and done."

 

Respectfully, 
Jim

Hal's insight:

Heed Jim Sinclair.

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