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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oftwominds-Charles Hugh Smith: The Ten Best Employers To Work For

oftwominds-Charles Hugh Smith: The Ten Best Employers To Work For | Gold and What Moves it. | Scoop.it

The insecurity of self-employment can generate a far more resilient life and mindset.


There are all sorts of "10 best companies to work for" lists, but I've assembled a slightly broader list: The Ten Best Employers To Work For. Without further ado, let's go to number 1:1. Yourself
Surprised? Expecting Google or Zappos? The National Security Agency? Nope, not even close. It's you--yes, you, Bucko. You're the best employer to work for. OK, on to the rest of the list: 2.  Yourself
3.  Yourself
4.  Yourself ....
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What We Are Now Seeing Is Unprecedented In World History

What We Are Now Seeing Is Unprecedented In World History | Gold and What Moves it. | Scoop.it

Today Egon von Greyerz warned King World News that the chaos we are seeing right now is unprecedented in world history.  Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, also cautioned “The confluence of these cycles will cause unimaginable turmoil in the future.”  Below is what Greyerz had to say in this remarkable interview:


Eric King:  “Clearly the banks in have reopened in Cyprus, your thoughts in the aftermath of all of this?”

 

Greyerz:  “Eric, they have opened, but the problem is still there.  Banks still don’t have enough money.  The package which has been put forward by the Troika is not going to last.  If they ever, which they might not, lift the exchange controls and restrictions on Cyprus banks, then we will see a run on the banks again....



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Strong Move To Scare Big Money Out Of “Too Big To Fail” Banks « Jim Sinclair's Mineset

Things are happening very fast. I will announce one or two meetings shortly in Toronto for both corporate and reader related Q&A.

 

It is glaringly apparent that there is a strong move on to scare big money out of the banks that are trusted by the establishment and are "Too Big to Fail." Cash has been hoarded in these banks which does the bank nor the economy any good. This initiative, like most government plans, is absolutely sure to backfire hard.

 

There are two things to do immediately:

 

1. Get your money out of the "Too Big To Fails." 
2. Increase your gold position.

 

Respectfully yours, 
Jim

Hal's insight:

You'll need to go over to read the full post and see the link to the document that prompted Jim Sinclair to post this.

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Eric De Groot: Insider buying of gold stocks surges to multi-year highs

Everyone hates the gold shares, except a growing number of insiders. ...

Hal's insight:

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Russia Gold,forex reserves grew 5%

Russian central bank said country's foreign exchange and gold reserves grew by 0.5% to $522.4 billion in the period between March 15 and March 22.

 

MOSCOW(BullionStreet): Russian central bank said country's foreign exchange and gold reserves grew by 0.5% to $522.4 billion in the period between March 15 and March 22.

 

In a statement, the bank said foreign exchange and gold reserves comprise monetary gold, foreign currency, and ...

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Santelli On The End Of Paper Gold's Reign | Zero Hedge

Santelli On The End Of Paper Gold's Reign | Zero Hedge | Gold and What Moves it. | Scoop.it
Central Banks remain aggressive accumulators of the precious metal as we noted last night, as their actions outweigh their words; but as CNBC's Rick Santelli notes today, there is a big difference between the physical bullion they are buying and...
Hal's insight:

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Notes From Underground: Jeroen Dijsselblo​em and the Template of Doom

Yra Harris writes: ... It is madness to keep money in European banks when depositors are so unsure as to the remedies of any crisis resolution. Spanish banks are going to be tested and the ECB is going to be challenged. It is of no small matter that ECB President Draghi has been so quiet throughout this most recent crisis. There has been no call for the Outright Monetary Transaction (OMT), the EuropeanQE program, though if depositors in Spain become nervous that will change. I advise you to remember that the OMT is based on the requesting country to adhere to an agreement to imposing harshCONDITIONALITY on itself to meet the borrowing stipulation. Austerity in the face of a sovereign and/or banking crisis is a recipe for disaster. Mr. Dijsselbloem, did you really think about the words that came out of your mouth? ...

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The Golden Truth: Are The BRICS Tossing One Through The United States' Window?

The Golden Truth: Are The BRICS Tossing One Through The United States' Window? | Gold and What Moves it. | Scoop.it
Clearly we should take notice. If central banks are preparing for a major change in the value of the dollar, shouldn't we? The fact remains that the US dollar cannot and will not survive the ongoing abuse heaped upon it by government planners and federal officials. That not only means the gold price will rise, but that many, if not most currencies, will lose a significant amount of purchasing power.  - Jeff Clark, Casey Research - in reference to that fact that eastern hemisphere Central Banks are loading up on gold and Bloomberg News is erroneously reporting China's involvement.

 

If you are at all curious about what is going on globally in terms of gold, the article which is the source of the above quote is a must-read:  LINK.

The reason why the above quote is important to this post is that it underlies a "tectonic" shift in the global financial landscape going on that is not really being reported by the U.S. media.  The BRICS countries (Brazil, Russia, India, China, South Africa) LINK met for a summit in South Africa today.  They kicked off the summit by pre-announcing two significant events:  1) a work-in-progress to establish a new development bank that would rival the World Bank/IMF;  2) Significantly, they signed a trade and currency deal in which the BRICS will conduct trade amongst themselves in their own respective currencies, altogether bypassing use of the U.S. dollar:  LINK

While both events are significant, the latter is another nail in the dollar's coffin. ...

Hal's insight:

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Richard Russell - Cyprus, Gold, & The World’s Money Masters

Richard Russell - Cyprus, Gold, & The World’s Money Masters | Gold and What Moves it. | Scoop.it

... The key to control by the “haves” is the production of fiat, unbacked money.  Gold is the enemy of money created out of a computer.  When gold was removed as a discipline behind money, those who could create money out of thin air discovered the path to riches and control.  And they developed a hatred towards gold that was understandable.  

 

Gold was the monetary discipline that stood in their way.  This set off a long period of Fed-sponsored propaganda against gold.  Gradually, through the years, and as generation after generation passed on, even the common man in America began to agree that gold was a worthless relic, a useless ornament to be despised. ...

Hal's insight:

Click through King World News full post by Richard Russell.

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Sinclair - Cyprus & Why MSM Is Being Used To Frighten People

Sinclair - Cyprus & Why MSM Is Being Used To Frighten People | Gold and What Moves it. | Scoop.it

Eric King:  “Jim, It seems like what you are saying is the mainstream media is going to be used going forward to increase the velocity of money by scaring the hell out of people.”

 

Sinclair:  “Yes.  I think what we have seen so far is just the beginning of the use of MSM to frighten money out of savings and into the economy.  This is particularly true when you look at the incorrect reporting of what the Dutch Finance Minister supposedly said.  


The velocity of money has been the biggest drag in terms of creating any significant recovery.  So the velocity of money has now been targeted, and it is to be increased through the use of fear in the mainstream media regarding confiscation of money in financial institutions. ...

Hal's insight:

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Cyprus Debacle Has Turned Into A Disaster For The West

Cyprus Debacle Has Turned Into A Disaster For The West | Gold and What Moves it. | Scoop.it

... Gold continues to see a war going on at the $1,600 level.  It is not in the best interest of the West to see gold do any type of move that would increase its exposure as being an alternative currency.

 

Once gold begins its next magnificent rise and breaks to new all-time highs there will be even more demand for gold and the people in charge of the West know this.  That’s why they are battling so hard to keep the price suppressed.

 

This latest series of events in Cyprus just shows how desperate Western central planners have become. ...

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Jim Sinclair on Cyprus, Russia, Germany and MSM

Remember yesterday’s topic of discussion in the community that Russia was going to freeze German money? That was another example of the totally inaccurate reporting in the gold community.

 

So far there has not been one correct rendition of what took place in Cyprus. Do you know that one major bank was open for the entire period of Cyprus Bank closures for major clients?

 

Do you really believe in the months leading up to this that the Russian depositors just sat there calmly waiting for largess from the IMF and did not withdraw the balance of their accounts as the account stood?

 

It gets harder every day to do JSMineset when even the gold community is full of gun slingers that I believe will transmit themselves to whatever is hot in town for revenue. Many articles are even published under made up names. ...

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Harvey Organ's - How the Cyprus banking debacle will raise the price of silver more than gold

Harvey Organ's - How the Cyprus banking debacle will raise the price of silver more than gold | Gold and What Moves it. | Scoop.it
Gold has held above $1,600 and silver hovers close to $29 an ounce after the Cyprus banking deal, despite a rally in the US dollar and a fall in the euro. But the real action will come in the reaction by bank depositors and investors to the fall-out from the Cyprus debacle. Never before in a eurozone banking bailout have depositors’ funds been touched. Cyprus has helped itself liberally to deposits above 100,000 euros. Those held in the inappropriately named Cyprus Popular Bank have been wiped out completely and up to 40 per cent lost from larger deposits with the Bank of Cyprus.
Bank runs This sets a new precedent for what is possible in EU bank bailouts. Wealthy depositors need to watch out. Holding large amounts of money in the banks of any country with debt problems is therefore not advisable. There is going to be a run on all these banks, to a greater or lesser extent. ...
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Precious Metals the Antidote to Fiat Currency Threat: International Resource Specialist Peter Krauth

Precious Metals the Antidote to Fiat Currency Threat: International Resource Specialist Peter Krauth | Gold and What Moves it. | Scoop.it

The Gold Report: Peter, playing equities is all about timing. With many resource equities trading near all-time lows, it seems like a buyer's market. Do you agree?


Peter Krauth: Central banks have been on a fiat money printing binge since 2008. In the last 18 months, that is starting to have the desired effect. The global economy seems to be healing: Demand for goods is coming back strongly, the Dow Jones Industrial Average is setting new records. But at the same time, there will be a serious price to pay with inflation. Commodities tend to benefit from inflation. This is a very good and important space that investors need to include in their portfolios.


TGR: Does that hold true across all commodities?

 

PK: The entire secular commodities bull market is not completely over. It has been going for 12 years, but the average tends to be closer to 17 years. This bull market might last 20 years or even longer, if you consider development in China and India—home to nearly one-third of the world's population—along with the rest of the developing world. These populations are improving their standards of living, growing their incomes and looking for a better lifestyle. That means someone will have to make all the stuff they will want to acquire. ...

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US lobby warns Pentagon against further dependence on Chinese rare earths | MINING.com

US lobby warns Pentagon against further dependence on Chinese rare earths | MINING.com | Gold and What Moves it. | Scoop.it

by Anthony Halley:


The Strategic Materials Advisory Council, a US lobby group, has called the Department of Defense's (DoD) decision to stockpile $120.43 million of heavy rare earth elements (HREEs) a "risky mitigation strategy" and urges "the creation and nurturing of a US-based  rare earth supply chain", reported Resource Investing News earlier today.

 

Rare earth metals are crucial to the production of a number high-tech and energy-related goods like smart phones, flat-screen TVs, drills, wind turbines, and electric cars. ...

Hal's insight:

You might think it's just someone trying to game the system that it was a lobby that made the warning, but really, this is a very serious subject. China controls a huge junk of rare earths and the world is spinning upon the need of rare earths. If you want electronics you need rare earth minerals.

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Dr. Marin Scodone's curator insight, March 5, 2016 5:38 PM

You might think it's just someone trying to game the system that it was a lobby that made the warning, but really, this is a very serious subject. China controls a huge junk of rare earths and the world is spinning upon the need of rare earths. If you want electronics you need rare earth minerals.

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Jesse's Café Américain: Gold Daily and Silver Weekly Charts

Jesse's Café Américain: Gold Daily and Silver Weekly Charts | Gold and What Moves it. | Scoop.it

... Everyone hates the gold shares, except a growing number of insiders. ...

Hal's insight:

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Why did everyone suddenly pay for the debts of the banks?

This fragment has the broadcast of The Sorrow of Europe not met, but we want to give it to you anyway. Ex-banker Jonathan Sugarman comes from the Irish banking sector, but even he does not understand how the Irish Government has tackled the banking crisis. He proposes some embarrassing questions.

Hal's insight:

hat tip to http://www.golemxiv.co.uk

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China produces 30.1 tons of Gold in January

China produces 30.1 tons of Gold in January | Gold and What Moves it. | Scoop.it
China produced 403.05 mt of gold in 2012, up 11.7% from 2011 -- leaving the country as the world's top gold producer for the sixth year in a row.

 

BEIJING(BullionStreet): World's largest gold producer China produced 30.1 mt of gold in the first month of this year, up 24.8 percent from same month in 2011.

 

According to Ministry of Industry and Information Technology, about 24.6 mt of January's output came from primary gold mines, up 24.6% from January 2012.

 

The remaining 5.5 mt were byproducts from nonferrous metal mines. China produced 403.05 mt of gold in 2012, up 11.7% from 2011 -- leaving the country as the world's top gold producer for the sixth year in a row. ...

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Peter Schiff explains how a US depression can cause a global 'death spiral'

Former World Bank economist Richard Duncan appeared on CNBC over the weekend explaining how the US government is delaying the economy from going into a "debt...
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Thor Knutson's comment, April 14, 2013 7:53 AM
This is an important topic for the U.S. right now. The economy recently crashed and it is vital that it doesn't crash again otherwise the results could be catastrophic.
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China and Brazil sign $30bn currency swap deal — RT Business

China and Brazil sign $30bn currency swap deal — RT Business | Gold and What Moves it. | Scoop.it

A $30 billion currency swap deal between Brazil and China is expected to smooth trade between the two countries despite changing global financial conditions and future crises.

 

The agreement was signed on the sidelines of the BRICS summit in South Africa. Plans for the currency swap were first announced last year at the Rio+20 environmental summit. The idea is that the central banks of the two trading partners are to swap local currency worth up to 190 billion yuan or 60 billion reais ($30 billion) in case turmoil hits the global financial system. 


"If there were shocks to the global financial market, with credit running short, we'd have credit from our biggest international partner, so there would be no interruption of trade," said Guido Mantega, Brazil's Economy Minister as quoted by BBC.

 

Over the past few years trade between China and Brazil has boosted significantly reaching $75 billion in 2012. China, the world’s second-largest economy, demonstrated stronger interest in ...

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oftwominds-Charles Hugh Smith: Post-Cyprus Blues: Confusion and an Erosion of Faith

oftwominds-Charles Hugh Smith: Post-Cyprus Blues: Confusion and an Erosion of Faith | Gold and What Moves it. | Scoop.it

It is far too early to be projecting much from Cyprus except a continued erosion of faith in Eurozone banks and leadership, and by default, the euro as a placeholder of purchasing power.


What do we know now that the Cyprus bank crisis has been resolved? What we know--that the resolution follows basic capitalism 101 guidelines of matching risk and loss, unlike the rejected across-the-board tax on all deposits--is dwarfed by what we don't know, for example: Does the Cyprus "bail-in" set a precedent for much larger Eurozone banking/debt crises? Though the Cyprus resolution is being held up by some as a model for all future Eurozone bail-outs, is the situation in Cyprus truly applicable to larger economies? Is the Cyprus crisis a tipping point that marks a sea-change in perceptions of systemic safety and risk? Though no one can claim ...
Hal's insight:

Click through for the rest. Good piece. 

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Ten mining experts you should follow on Twitter | MINING.com

Ten mining experts you should follow on Twitter | MINING.com | Gold and What Moves it. | Scoop.it

10) "Hal" @gold_tracker
Precious metals analyst. Gold and silver in particular.

Hal's insight:

Hey! Look who made the top ten on Mining.com's Top ten must follows on twitter. I'm highly honored. And pleasantly surprised. Click through for the full list of folk much more greatly qualified to be on the list than I.

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Jesse's Café Américain: Currency Wars: Global Sustainable Currency Summit - Sept 26-28, Xi'an China: Bitcoin

Jesse's Café Américain: Currency Wars: Global Sustainable Currency Summit - Sept 26-28, Xi'an China: Bitcoin | Gold and What Moves it. | Scoop.it

The world is looking for a replacement for the outdated US dollar global reserve currency arrangement. The reasons for this are fairly obvious. How can the Fed independently conduct monetary policy to support domestic US needs for a global currency? 

The Anglo-American banking cartel will fight this development at every turn, because control of the currency is power.

I trust that a basket of currencies anchored with gold and silver will be on the table.  The discussion of such an arrangement was circumvented by the US and UK.

The BRICs are not happy with the status quo.  As you may recall, they have ...

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Cyprus, Money Velocity & A Potential Inflationary Holocaust

Cyprus, Money Velocity & A Potential Inflationary Holocaust | Gold and What Moves it. | Scoop.it

Kevin Wides out of Switzerland tells King World News:

 

As a gold bull I would like to say that with Cyprus Bank depositors now losing a large percentage of their cash on deposit, that this will cause an immediate move by other European depositors into the physical gold and silver markets in order to get their wealth outside of the banking system.  

 

I believe that this will be the case, but it is likely a delayed event.  With the superb manner that the gold and silver markets have been managed to date by Western governments, the average citizen in Europe is still not looking at or noticing gold and silver as an investment or store of wealth.

 

What we should see now is cash withdrawals from European banks in other troubled countries – Italy, Portugal, Spain, Greece, etc.  That cash should then be used by those individuals to start transacting in goods and ...

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BOE To British Banks: Raise More $38 Billion more in additional Capital

BOE To British Banks: Raise More $38 Billion more in additional Capital | Gold and What Moves it. | Scoop.it

by Mike Obel:

 

British banks have about nine months to raise about $38 billion in Tier 1 capital.

 

British banks ended last year with a £25 billion ($37.92 billion) capital shortfall, an amount they will have to make up this year, the Bank of England said Wednesday.


The British central bank, which wants to ensure that commercial banks in the country have enough money set aside to absorb losses, requires banks to maintain at least 7 percent of their total assets in such secure forms as equity capital and disclosed reserves. That percentage is commonly referred to as a bank’s Tier 1 capital ratio.

 

The Bank of England did not disclose which banks did not have a sufficient Tier 1 capital ratio. ...


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