Gold and What Moves it.
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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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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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LearCapital | Download Lear Gold & Silver Daily Today!

LearCapital | Download Lear Gold & Silver Daily Today! | Gold and What Moves it. | Scoop.it

Download the Free Lear Gold & Silver Daily Today!

 

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The Lear Gold and Silver Daily app is a special new benefit brought to you by Lear Capital at no additional cost.

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Who’s Going To Stop The Madness?

Every month consumer debt in aggregate hits a new record. Auto loans and student loans have been hitting monthly record highs for quite some time. In November credit card debt hit a record high in total and increased a record monthly amount for any one month. Mathematically this can’t go on forever. In fact, there are signs – indicators not reported widely by the financial media and, predictably, completely disregarded by Wall Street – that indicate the debt party is coming to an end. Events that follow the end of the party will be less than pleasant for the majority of U.S. households.

Every week in the Short Seller’s Journal I present data which reflects the deteriorating condition of middle class America. For definitional purposes, “middle class” is defined as any household that is unable to afford their own politician, which means 99.5% of all households.
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Are we heading for another developing world debt crisis? | Larry Elliott

Are we heading for another developing world debt crisis? | Larry Elliott | Gold and What Moves it. | Scoop.it
Western bank loans for projects in Africa were to be paid off via rising commodity prices. At least that was the theory …

Via Graham Watson, Bruce Fellowes
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Graham Watson's curator insight, January 14, 9:26 AM
Larry Elliott wonders whether we're on the brink of another developing world deb t crisis. I have to say that on the evidence of his article it's difficult to conclude that we are; there's no a lot of evidence of lots of LEDCs getting into major difficulty, and, yes, global interest rates are rising but there still not very high, and do, to my mind, the risk of sizeable default doesn't strike me as massive. 

Equally, even with the example he offers - about a loan to Mozambique, it seems the root cause of the issue is governmental corruption rather than anything else. And hem ight be right in impyying that Credit Suisse and VTB have the country by the throat, but it's maladministration that's caused this - nothing else. 

So, whilst developing country debt is a problem - I don't think it's currently quite the story that the Observer would like it to be.
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Craig Hemke: Gold Has Been Alchemized

Craig Hemke: Gold Has Been Alchemized | Gold and What Moves it. | Scoop.it
By Rory Hall

I love sitting down with Craig Hemke, TFMetals Report, not only does he share great information it is a lot of fun with some laughter thrown in to keep these all-too-serious conversations a little lighter. When you’re dealing with such subjects as our monetary past and what we see as our monetary future, humor is a necessary ingredient.

All the wizards and their magic potions in pots from medieval times couldn’t pull it off but the bankers did 40 years ago. They managed and turned ether, nothing, into this confidence scheme of “yes I own gold” No, you don’t. You own a piece of paper that says you are exposed to the price. But you don’t own gold. Craig Hemke ~The Daily Coin

The Federal Reserve System hijacked the U.S. economy, banking and financial systems in 1913 and foisted upon the citizens a system of debt that replaced a perfectly good gold based system that allowed for freedom, economic prosperity and kept the government and bankers in check. One hundred and five years later we are being force fed the fruits of a criminal system where corruption, deceit and propaganda are part of the landscape and the citizens no longer even notice the stench of a rotting economic corpse.
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Don’t believe the lies about the US being at ‘full employment’

Don’t believe the lies about the US being at ‘full employment’ | Gold and What Moves it. | Scoop.it
We’ve already started to hear this lie: the US is at full employment. That nearly everyone who wants a job has got a job.
The lie started durin
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I know I don't believe it.
 
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World Debt Is Rising Nearly Three Times As Fast As Total Global Wealth - SRSrocco Report

World Debt Is Rising Nearly Three Times As Fast As Total Global Wealth - SRSrocco Report | Gold and What Moves it. | Scoop.it

Some nasty dark clouds are forming on the financial horizon as total world debt is increasing nearly three times as fast as total global wealth. Also, the percentage of world gold investment to global world assets is much higher than we realize. ...

 
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I don't know how long this debt currency system will last. I thought it would have collapsed of its own weight by now but it continues to persevere. I'm certain that is because of the machinations of world governments and their central banking arms. But what I am certain of is that debt is slavery. And slavery is bad in this world system. Man is inherently deceitful. So be guard yourself.
 
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Diesel backlash means new cars on UK roads pumping out more CO2 

Diesel backlash means new cars on UK roads pumping out more CO2  | Gold and What Moves it. | Scoop.it
New cars sold in Britain last year were more harmful to the environment than those in 2016 because of the “demonisation” of diesel.

Via Graham Watson, Bruce Fellowes
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Graham Watson's curator insight, January 5, 4:12 AM
A brilliant example of the law of unintended consequences emerged from yesterday's Society of Motor Manufacturers and Traders (SMMT) report into the state of the UK car market. As a result of the policy shift away from diesel cars, last year saw the average emissions from new cars becoming higher than the previous year. 

If that's not (a) an unintended consequence (b) proof that markets allocate resources in line with incentives, then I don't know what is. The government, of course, argues that this policy change is part of a long-term plan. I seem to recall both Baldrick and George Osborne arguing the same. 
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It's Not About Democracy: Control Fraud Is the Core of our Political System

It's Not About Democracy: Control Fraud Is the Core of our Political System | Gold and What Moves it. | Scoop.it
he many are finally calling out the abusers of power because there's no longer any need to pay the corrupting costs of centralization.

If we strip away the pretense of democracy, what is the core of our political System? Answer: control fraud, which I define as those with control/ power in centralized institutions enriching themselves at the expense of the citizenry by selectively modifying what's permissible, and doing so in a fully legally compliant process, i.e. within the letter of the law if not the intent of the law.
I addressed control fraud a bit in The Hidden-in-Plain-Sight Mechanism of the Super-Wealthy: Money-Laundering 2.0 (December 29, 2017), in which I quoted Correspondent JD.
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"Wealth Effect" = Widening Wealth Inequality

"Wealth Effect" = Widening Wealth Inequality | Gold and What Moves it. | Scoop.it
Note that widening wealth and income inequality is a non-partisan trend.
One of the core goals of the Federal Reserve's monetary policies of the past 9 years is to generate the "wealth effect": by pushing the valuations of stocks and bonds higher, American households will feel wealthier, and hence be more willing to borrow and spend, even if they didn't actually reap any gains by selling stocks and bonds that gained value.
In other words, the mere perception of rising wealth is supposed to trigger a wave of renewed borrowing and spending.
This perception management only worked on the few households which owned enough of these assets to feel wealthier--the top 5%, the top 6 million out of 120 million households. This chart shows what happened as the Fed ceaselessly goosed financial assets higher over the past 9 years: the gains, real and perceived, only flowed to the top 5% of households earning in excess of $200,000 annually.
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From The Desk of Peter Grandich

From The Desk of Peter Grandich | Gold and What Moves it. | Scoop.it
As 2017 draws to an end, I began using a word most recently to describe how I felt about most financial markets. Never, in my previous 33 years in and around the financial arena, have I used it to describe how I feel about their future. The word is “petrified”.

There are numerous reasons that came together to create what surely is, or shortly will be, the greatest financial assets bubble of all-time. However, there are two key factors:

Central Banks’ insane monetary policies. The 2008 financial crisis led Western central bankers to drive Interest rates to near-zero while money-printing was driven to near-infinity. We were told that the normalization of interest rates and the normalization of money-printing would return once the crisis was over. Almost a decade later, we still await the insanity to be reversed. We continue to be told that this is the best policy. Yet no one has asked that, if this was the best policy, why hadn’t the bankers done this for the previous 100 years? Monetary policy has tried to more than make up for poor fiscal policies and there lies the ultimate mistake that a generation, or more, will eventually pay dearly for.
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Gold Only Safe Asset Left – David Stockman | Greg Hunter's USAWatchdog

Gold Only Safe Asset Left – David Stockman | Greg Hunter's USAWatchdog | Gold and What Moves it. | Scoop.it

By Greg Hunter's USAWatchdog.com 


“More importantly,” Stockman says, “The central banks realize they cannot keep printing money at these crazy rates, and by that I mean the bond buying. Now, they are going to begin to normalize and shrink their balance sheet. . . . By the fall (of 2018), they (the Federal Reserve) will be shrinking their balance sheet by $600 billion a year. What that means in plain simple English is that they (the Fed) are dumping $600 billion a year of existing bonds into the market just as Uncle Sam will be attempting to borrow $1.25 trillion more. ...

 
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Gold sits at session tops, near $1260 on weaker USD

Gold sits at session tops, near $1260 on weaker USD | Gold and What Moves it. | Scoop.it

   •  Benefitting from persistent USD selling bias. 

   •  Surging US bond yields/risk-on moods does little to hinder the up-move.

Gold continued gaining positive traction through the early NA session and is currently placed at session tops, around the $1259-60 region. Some uncertainty over the passage of a long-awaited US tax cut bill and doubts over the pro-growth effect of the reforms kept exerting downward pressure on the US Dollar and was seen benefitting dollar-denominated commodities - like gold. ...

 
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Strap Yourself In - We Are About To See Some Big Moves In Metals | Avi Gilburt | Safehaven.com

Strap Yourself In - We Are About To See Some Big Moves In Metals | Avi Gilburt | Safehaven.com | Gold and What Moves it. | Scoop.it
The last week has seen the metals and miners drop down into support regions. As I write this, we are sitting just over major support for most of the charts I follow.

Whereas the GDX likely provides the cleanest picture of the market potential right now, I will be providing you guidance about the GDX in my analysis below. And, while I maintain a strong bullish bias for 2018, the action we see in the coming weeks will tell us when we can begin to take a more immediate bullish perspective.

Anecdotal and other sentiment indications

The whipsaw continues. Most in the complex don’t know whether they are coming or going right now. One day we go up, another day we go down. And, many have become quite bearish again, with many even calling for lows below those seen in 2015.
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Gold Gains for Fifth Session, Palladium Logs New Record

Gold Gains for Fifth Session, Palladium Logs New Record | Gold and What Moves it. | Scoop.it
Gold futures lifted their winning sessions to five in row Wednesday, and settled a new, more than four-month high.

Gold for February delivery rose $2.10, or 0.2%, to end at $1,339.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was again the highest since Sept. 8 when prices finished at $1,351.20 an ounce.
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The Fascinating Psychology of Blowoff Tops

The Fascinating Psychology of Blowoff Tops | Gold and What Moves it. | Scoop.it
Central banks have guaranteed a bubble collapse is the only possible output of the system they've created.
The psychology of blowoff tops in asset bubbles is fascinating: let's start with the first requirement of a move qualifying as a blowoff top, which is the vast majority of participants deny the move is a blowoff top.
Exhibit 1: a chart of the Dow Jones Industrial Average (DJ-30):

Is there any other description of this parabolic ascent other than "blowoff top" that isn't absurdly misleading? Can anyone claim this is just a typical Bull market? There is nothing even remotely typical about the record RSI (relative strength index), record Bull-Bear ratio, and so on, especially after a near-record run of 9 years.
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The Massive Transfer Of Wealth Will Create Global Shockwaves - King World News 

The Massive Transfer Of Wealth Will Create Global Shockwaves - King World News  | Gold and What Moves it. | Scoop.it

The Massive Transfer Of Wealth Will Create Global Shockwaves


Stay tuned as gold price discovery and reset rewards the gold saving Chinese Households at the expense of US and other Western Households that have for more than 40 years over-consumed and under-saved, with little to no gold set aside for rainy days.

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Labor Department’s December jobs report highly misleading

Labor Department’s December jobs report highly misleading | Gold and What Moves it. | Scoop.it
The comments about the December jobs report were not the only thing misleading — the report was, too.
The Labor Department reported that only 148,00
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UK consumers trapped in credit card debt for longer than thought

UK consumers trapped in credit card debt for longer than thought | Gold and What Moves it. | Scoop.it
Bank of England and financial watchdog found 89% of card debt was held by consumers revealed as in debt two years ago

Via Graham Watson, Bruce Fellowes
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Graham Watson's curator insight, January 8, 12:55 PM
The excellent Bank of England's 'Bank  Underground' blog has highlighted the fact that consumer debt is longer lasting than previously thought as consumers look to use credit products to transfer existing debt from one product to another.

The remarkable fact is that 90% of all credit card debt in November 2016 was owed by people who had been in debt two years earlier. This suggests that consumer debt is well-entrenched in the vast majority of instances. 
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Yes, But at What Cost?

Yes, But at What Cost? | Gold and What Moves it. | Scoop.it
This is how our entire status quo maintains the illusion of normalcy: by avoiding a full accounting of the costs.
The economy's going great--but at what cost? "Normalcy" has been restored, but at what cost? Profits are soaring, but at what cost? Our pain is being reduced--but at what cost?
The status quo delights in celebrating gains, but the costs required to generate those gains are ignored for one simple reason: the costs exceed the gains by a wide margin. As long as the costs can be hidden, diluted, minimized and rationalized, then phantom gains can be presented as real.
Exhibit One: the US public debt. If you borrow and blow enough money, it's not too difficult to generate a bit of "growth"--but at what cost?
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The Leveraged Economy BLOWS UP In 2018 - SRSrocco Report

The Leveraged Economy BLOWS UP In 2018 - SRSrocco Report | Gold and What Moves it. | Scoop.it

Enjoy the good times while you can because when the economy BLOWS UP this next time, there is no plan B. Sure, we could see massive monetary printing by Central Banks to continue the madness a bit longer after the market crashes, but this won’t be a long-term solution. Rather, the U.S. and global economies will contract to a level we have never experienced before. We are most certainly in unchartered territory. Before I get into my analysis and the reasons we are heading towards the Seneca Cliff, I wanted to share the following information. I haven’t posted much material over the past week because I decided to spend a bit of quality time with family. Furthermore, a good friend of mine past away which put me in a state of reflection. This close friend was also very knowledgeable about our current economic predicament and was a big believer in owning gold and silver. So, it was a quite a shame to lose someone close by who I could chat with about these issues.

 
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Why the Financial System Will Break: You Can't "Normalize" Markets that Depend on Extreme Monetary Stimulus

Why the Financial System Will Break: You Can't "Normalize" Markets that Depend on Extreme Monetary Stimulus | Gold and What Moves it. | Scoop.it

In a nutshell, central banks are promising to "normalize" their monetary policy extremes in 2018. Nice, but there's a problem: you can't "normalize" markets that are now entirely dependent on extremes of monetary stimulus. Attempts to "normalize" will break the markets and the financial system.
Let's start with the core dynamic of the global economy and nosebleed-valuation markets: credit.
Modern finance has many complex moving parts, and this complexity masks its inner simplicity.
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2018 Economy Goes Cold – Inflation Hot – Danielle DiMartino Booth | Greg Hunter's USAWatchdog

2018 Economy Goes Cold – Inflation Hot – Danielle DiMartino Booth | Greg Hunter's USAWatchdog | Gold and What Moves it. | Scoop.it

By Greg Hunter’s USAWatchdog.com


Former Fed insider Danielle DiMartino Boot is not optimistic about a surging economy in 2018. Booth contends, “We have seen 24 consecutive back-to-back months when credit card spending has outpaced incomes. That tells you households are struggling to get by. This is not Eve Saint Laurent handbags and Jimmy Choo shoes. These are families who are using their credit cards to take care of the necessities, to fill up the gas tank, to buy groceries and fill up their refrigerator. . . . We have seen month after month of subprime automobile delinquencies, and we are starting to see a big tic up in FHA mortgage delinquencies as well. . . . We are at almost 10% (delinquencies) of FHA mortgage loans. Underlying this sugar high that we will see from all of these hurricanes and rebuilding efforts and wildfires, underneath that, still waters run deep and the economy is not doing well. We are a consumption driven economy that is weakening underneath. The sugar high will absolutely wear off in 2018.”

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John Embry - 2018 Promises To Be A Very Big Year For Gold, Silver And The Miners - King World News

John Embry - 2018 Promises To Be A Very Big Year For Gold, Silver And The Miners - King World News | Gold and What Moves it. | Scoop.it
Today John Embry told King World News that 2018 promises to be a very big year for gold, silver and the miners.
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Jedi Mind Trick: The Disturbing, Destabilizing Abnormal Is Now Normal

Jedi Mind Trick: The Disturbing, Destabilizing Abnormal Is Now Normal | Gold and What Moves it. | Scoop.it
Disturbing, destabilizing abnormalities are now accepted as normal life in America.
Forgive me for wondering if the populace of America hasn't fallen for a Jedi mind trick:


Disturbing, destabilizing abnormalities are now accepted as normal life in America:
1. Sprawling tent camps of homeless sprout like flowers of poverty in U.S. cities, leaving mountains of trash that speak volumes about systemic failure, destitution and overwhelmed city services.
2. The Federal Reserve's vaunted "Wealth Effect" that was supposed to be a tide that raised all boats at least a bit has concentrated wealth and power in the top 5%, 1%, and 1/10th of 1%, leaving the bottom 95% with diminished prospects and a thinning stake in The American Project.
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Hedge Funds Abandon Gold To Chase Bitcoin

Hedge Funds Abandon Gold To Chase Bitcoin | Gold and What Moves it. | Scoop.it
Since the beginning of December, gold and bitcoin have drastically diverged.
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Bitcoin vs Fiat Currency: Which Fails First?

Bitcoin vs Fiat Currency: Which Fails First? | Gold and What Moves it. | Scoop.it
What if bitcoin is a reflection of trust in the future value of fiat currencies?
I am struck by the mainstream confidence that bitcoin is a fraud/fad that will soon collapse, while central bank fiat currencies are presumed to be rock-solid and without risk. Those with supreme confidence in fiat currencies might want to look at a chart of Venezuela's fiat currency, which has declined from 10 to the US dollar in 2012 to 5,000 to the USD earlier this year to a current value in December 2017 of between 90,000 and 100,000 to $1:

Exchange Rate in Venezuela:
On 1 December, the bolivar traded in the parallel market at 103,024 VED per USD, a stunning 59.9% depreciation from the same day last month.
Analysts participating in the LatinFocus Consensus Forecast expect the parallel dollar to remain under severe pressure next year. They project a non-official exchange rate of 2,069,486 VEF per USD by the end of 2018. In 2019, the panel sees the non-official exchange rate trading at 2,725,000 VEF per USD.
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