Gold and What Moves it.
85.5K views | +2 today
Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
Curated by Hal
Your new post is loading...
Your new post is loading...
Scooped by Hal
Scoop.it!

22 Signs That The Collapsing Spanish Economy Is Heading Into A Great Depression

22 Signs That The Collapsing Spanish Economy Is Heading Into A Great Depression | Gold and What Moves it. | Scoop.it
What happens when debt-fueled false prosperity disappears?

 

"#1 The unemployment rate in Spain has reached 24.4 percent - a new all-time record high. Back in April 2007, the unemployment rate in Spain was only 7.9 percent.

 

#2 The unemployment rate in Spain is now higher than the U.S. unemployment rate was during any point during the Great Depression of the 1930s.

 

#3 According to CNBC, some analysts are projecting that the unemployment rate in Spain is going to go above 30 percent..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

U.S. data points to weaker economic momentum

U.S. data points to weaker economic momentum | Gold and What Moves it. | Scoop.it

By Jason Lange

 

"U.S. consumers boosted spending only modestly last month and a gauge of Midwestern business activity fell sharply in April, suggesting the economy entered the second quarter with less steam.

 

"The Commerce Department said on Monday consumer spending rose 0.3 percent last month, just below the median forecast in a Reuters poll.

 

"When taking into account inflation, which has been fed in recent months by higher gasoline prices, spending barely rose, advancing just 0.1 percent.

 

"The spending number is an indication that the higher gas prices we saw last month are taking their toll," said Todd Schoenberger, managing principal at the Black Bay Group in New York.

 

"The Commerce Department report also showed consumer income rose 0.4 percent last month. Analysts had expected a gain of 0.3 percent. After-tax income climbed 0.2 percent in March when accounting for higher prices.

 

"U.S. government debt prices rose as anxiety over economic weakness in Europe and slowing growth in the United States led investors to favor lower-risk investments. U.S. stocks edged lower.

 

"U.S. economic growth cooled in the first quarter as businesses cut back on investment and restocked shelves at a slower pace. The economy grew at a 2.2 percent annual pace in the first three months of the year, data on Friday showed, a slowdown from the fourth quarter's 3.0 percent rate..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

When Fundamentals No Longer Apply, Review the Fundamentals - Sprott Asset Management

When Fundamentals No Longer Apply, Review the Fundamentals - Sprott Asset Management | Gold and What Moves it. | Scoop.it

By: Eric Sprott & David Baker

 

"This may not come as a surprise, but we're still not seeing it. We're not seeing a US recovery.

 

"Here we are, well into 2012, and the fact remains that the US housing situation is still a bust. There is simply no housing recovery happening in the United States. US New Home Sales fell for the fourth time in a row month-overmonth in March, representing a seasonally-adjusted annual rate of 328,000, down from 353,000 in February.1 Do you know what the annual rate of New Home Sales was back in 2006? About 1.21 million.2 No recovery there.

 

"Same goes for US Existing Home Sales, which fell unexpectedly by 2.6% in March to an annual rate of 4.48 million units.3 Again - would you care to know where they were in the same month back in 2006, before the financial system fell apart? Approximately 6.92 million units.4 No recovery there either...

 

"...Although the paper gold price has been range-bound over the past month, the physical gold market has been undergoing staggering change. Earlier this month it was revealed that Hong Kong gold imports into China totaled nearly 40 tonnes in the month of February, representing a 13-fold increase over the same month last year (see Figure 2).22 40 tonnes annualized equates to 480 tonnes per year - a massive number in a market that only produced 2,810 tonnes of mine supply in 2011..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

UPDATE 2-Cyprus's bank writedown draws Orphanides' parting ire

UPDATE 2-Cyprus's bank writedown draws Orphanides' parting ire | Gold and What Moves it. | Scoop.it

* Says Greek debt writedown helped trigger vicious cycle

* Says was ignored, undermined by government

* Steps down on May 2 (Updates throughout)

By Michele Kambas

 

"NICOSIA, April 30 (Reuters) - Cyprus's outgoing central bank chief accused the government of ignoring him at its peril on Monday, with the cash-strapped island possibly facing a major bank bailout with empty pockets.

 

"Athanasios Orphanides said in his last public appearance before lawmakers he was ignored by the country's president and disagreed with a Greek debt writedown which inflicted massive losses on bond holding Cypriot banks, forcing a rush to recapitalise them by a mid-year deadline.

 

"He also said he had faced repeated challenges to his authority as an independent official.

 

"It's a shame we got to this point. For those of us in the know, it was apparent that with some simple actions we could have avoided the risks we are exposed to today," Orphanides said.

 

"Orphanides's five year term as head of Cyprus's central bank and as an influential ECB policymaker ends on May 2. Resisting strong pressure to keep him on, Cypriot President Demetris Christofias on Saturday appointed economics professor Panicos Demetriades as his replacement..."
 

more...
No comment yet.
Scooped by Hal
Scoop.it!

Bullish Outlook Improves for Silver and Gold Traders

Bullish Outlook Improves for Silver and Gold Traders | Gold and What Moves it. | Scoop.it
(eToro Blog) With expectations now raised that the Federal Reserve Bank might be even more accommodative than they already are given the latest disappointing.
more...
No comment yet.
Scooped by Hal
Scoop.it!

There Is No Solution, Only Catastrophic Outcomes

There Is No Solution, Only Catastrophic Outcomes | Gold and What Moves it. | Scoop.it

Fitzwilson is founder of The Portola Group, tells King World News:

 

"In the United States alone, we are borrowing an increasing percentage of the amount spent in each fiscal year. Since that money must be printed, every program over-and-above the tax revenues is quantitative easing. The debates about whether we will see another round of quantitative easing takes our collective eye off of the ball. The fact is that we are doing QE every day with every borrowed dollar.

 

"Since our Federal Reserve is the central bank for the world, any program that involves spending more money, over-and-above savings and taxes around the world, is quantitative easing. This is the case, whether or not it is seen as our Fed taking the lead or Europe dealing with their own problems. It is the same checkbook and the same printing press. We have long since passed the nice and orderly process of easing, and are now engaged in what I would call ‘quantitative spewing.’

 

"How long this can last is anyone’s guess. Nobody is in favor of an economic collapse. We have now transitioned into an economic ‘no-man’s land,’ the magnitude of which has never been seen. There is no solution, only outcomes that have to be managed. We must now print to infinity and hope that unexpected events will provide a positive path out of this morass..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

The Most Important Development Since The MSM/MOPE Assault On Euroland Began « Jim Sinclair's Mineset

From Jim Sinclair:

 

"My Dear Extended Family,

 

"Do not discount this. It has the potential of being the most important positive development in the euro since the beginning of the USA and GB’s MSM/MOPE assault on Euroland’s problems.

 

"This I am told is the reason behind the Euro holding above $1.30 no matter how much the US and GB MSM/MOPE is thrown at it. This is another economic war taking place under the radar of the sheeple between the USA and GB on one side and Euroland on the other.

 

"Russia and China might make the euro their reserve currency of selection if Hollande can pull off this plan. I might go to France to vote for him twice. He knows what the euro’s real problem is and will work to cure it.

 

"This is extremely important in the dollar equation.

 

"It may be the most important swing factor in the political scene of gold and the US dollar. Hollande could be the political figure of this century for the upcoming euro block.

 

"It is possible. Do not discount this.

 

"Respectfully,
Jim

 

"French Front-Runner Says He’d Seek to Renegotiate Fiscal Treaty if Elected
François Hollande said Wednesday in Paris that he would propose changes to the European Union treaty, favored by Germany..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

WE’VE NEVER LEFT THE RECESSION « The Burning Platform

WE’VE NEVER LEFT THE RECESSION « The Burning Platform | Gold and What Moves it. | Scoop.it

"It is three and a half years since the Great Recession hit in 2008 with the collapse of our financial system caused by the Wall Street banks and their captured politician cronies in Washington D.C. Their mouthpieces in the mainstream media have been telling the American sheeple that we have been out of recession and in recovery since the 4th quarter of 2009. It truly has been a recovery for the Wall Street bankers and the mega-corporations that have laid off millions and opened new factories in the Far East while generating record profits and rewarding their executives with millions in bonuses. The stock market has doubled from its 2009 lows. All is well on Wall Street – not so much on Main Street.

 

"The compliant non-questioning MSM reported that GDP in the 1st quarter rose 2.2%, less than expected. This pitiful government manipulated result confirms that we are back in recession. The first quarter had the huge benefit of fantastic weather, an extra day, and a supposed surge in jobs. And this is all we got?..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Agenda 21 – It’s Your World, We Just Want To Own You. Part 1 - The Dollar Vigilante Blog -

Agenda 21 – It’s Your World, We Just Want To Own You. Part 1 - The Dollar Vigilante Blog - | Gold and What Moves it. | Scoop.it

[EDITOR'S NOTE: THE FOLLOWING IS FROM TDV MANAGING EDITOR, REDMOND WEISSENBERGER]


"Agenda 21 is the Communist Manifesto of the Environmental Movement. It is a renewed attack on the underpinnings of civilization, prosperity and the desire to destroy the standard of living achieved in the developed world and the forced permanent poverty of those in the developing world. This comes chiefly in the call for the abolition of what little remains of the institution of private property."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Global Gold Supply 3 | Scott Wright | Safehaven.com

Global Gold Supply 3 | Scott Wright | Safehaven.com | Gold and What Moves it. | Scoop.it
Ever since the beginning of gold's bull market, this metal's economic balance has come under intense scrutiny. Demand has been on the rise as more and more investors have embraced gold as a store of wealth.

 

By: Scott Wright

"While the gold price will take care of itself, unfortunately things aren't as simple as they seem on the investor front. In theory it is natural to assume that higher gold prices would lead to investor interest in gold stocks. But this hasn't been the case lately as anybody currently invested in this sector will tell you. And this could end up being a major problem if it carries on for a prolonged period of time. Without investors, capex will naturally fade. And this would restart a nasty chain reaction that would eventually lead to a decline in production volume.


"Though it is no doubt a contrarian view these days, at Zeal we don't believe the gold stocks will remain out of favor for much longer. It is just too early in gold's bull for a sustained loss of investor interest to effect a sector failure. And if we are indeed at the tail end of the sentiment storm that has hammered these stocks, then legendary gains can be won for investors who are properly positioned in the elite companies laying the groundwork for the mining industry to continue its success..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Economic Reports Now Driving Gold And Silver Prices - Seeking Alpha

Economic Reports Now Driving Gold And Silver Prices - Seeking Alpha | Gold and What Moves it. | Scoop.it

by Tim Iacono:

 

"It would appear that the Fed is either out of touch with emerging signs of slowing growth (as can be seen in the steady stream of disappointing economic reports from the Citigroup Economic Surprise Index via Bloomberg below that just dipped into negative territory for the first time since October), or they just don't want to get involved."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Trader Dan's Market Views: US Q1 GDP grows 2.2% - Copper moves Higher?

Trader Dan's Market Views: US Q1 GDP grows 2.2% - Copper moves Higher? | Gold and What Moves it. | Scoop.it

Trader Dan Norcini:

 

"This morning's big news item was the fact that US Q1 GDP growth came in at 2.2%, well under expectations of 2.6% growth predicted by analysts and well down from Q4 2011 growth of 3.0%. Under "normal" circumstances, such a number would have been expected to put downward pressure on the bellwether copper market. 'Twas not the case however as copper shot up on the news bursting through the 50 day moving average in the process. What gives? Simple - we are now in an environment in which the more bad news we get, the more optimistic traders are becoming that the next round of QE is coming right up.

 

"That is what gold began sniffing out in yesterday's session and appears to be continuing today..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Austerity Topples Second European Government in a Week After Romania's Collapse

Austerity Topples Second European Government in a Week After Romania's Collapse | Gold and What Moves it. | Scoop.it

By MARTIN BACCARDAX:

 

"Romania's government, in office for only two months, was toppled by a vote of no confidence Friday making it the second European leadership within a week to collapse in the face of internal debate over the pace and scope of austerity measures.

 

"Opposition parties gathered 235 votes - four more than necessary in the 460-seat Parliament - to oust the newly-elected government of Prime Minister Mihai-Razvan Ungureanu. Debate within Romania had been raging for weeks over the government's plans to reduce its budget deficit from 4.4 percent in 2011. Ungureanu had set a target of 1.9 percent for this year in a plan that had tabled 25 percent public sector salary cuts and tax increases. He took office after the resignation of Emil Boc in the face of violent protests linked to his own austerity programme.

 

"Romania recently secured €5bn loan package from the IMF and the European Union last year in an effort..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Dutch central banker's memoirs confirm gold price suppression | Gold Anti-Trust Action Committee

Dutch central banker's memoirs confirm gold price suppression | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"Dear Friend of GATA and Gold:

 

"With his new study, "Dr. Zijlstra's Final Settlement: Gold as the Monetary Cosmos' Sun," appended here, our good friend the Netherlands economist Jaco Schipper of MarketUpdate.nl today adds substantially to the growing documentation of the Western central bank gold price suppression scheme.

 

"Zijlstra is the late Dutch treasurer, prime minister, and central banker Jelle Zijlstra, in whose memoirs Schipper has found confirmations of that scheme, including a confirmation involving former Federal Reserve Chairman Paul Volcker, whose involvement in gold price suppression often has been noted by GATA:..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Spain Falls Back Into Recession As Austerity Bites

Spain Falls Back Into Recession As Austerity Bites | Gold and What Moves it. | Scoop.it

by IBTimes staff reporter:

 

"First the United Kingdom, and now Spain: the latter's economy has joined Britain in tipping back into recession, after implementing austerity measures -- budget cuts and tax/fee increases -- designed to put the nation on a a long-term, sustainable fiscal track.

 

"Spain's recession will invariably spark a renewed debate between conservative/monetarist school economists and Keynesian economists.

 

"Conservatives argue that cutting government spending and balancing a fiscal budget is required to increase investor confidence to the point where investors deploy more capital, which will increase commercial activity, economic growth, and create new jobs.

 

"Conversely, Keynesians argue that to impose austerity measures in the form of large government spending cuts during a period of weak demand and not enough private sector investment to compensate for the public sector cuts, will tip an economy back into recession.

 

"Spain sank into recession in the first quarter and economists said spending cuts aimed at meeting strict EU deficit limits together with troubles in the banking sector would delay any return to growth until late this year or beyond, Reuters reported Monday..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Dallas Fed Plunges Negative. Biggest Miss In 10 Months | ZeroHedge

Dallas Fed Plunges Negative. Biggest Miss In 10 Months | ZeroHedge | Gold and What Moves it. | Scoop.it

by Tyler Durden:

 

"While the Dallas Fed Manufacturing Index tends to be a little less of a headline-maker than many of its macro-data peers, today's dismal report is worth paying attention to. The index turned negative for the first time this year, dropped to its lowest level in 7 months and missed expectations by the largest amount in 10 months. The drop from +10.8 to -3.4 is also the largest sequential drop in 11 months. Only the inventories sub-index rose (hardly a bright spot) as Production, Number of Employees, New Orders, and Capacity Utilization all plunged and the average workweek fell for the first time in months. The US decoupling myth continues to come apart at the seams and the likelihood of more easing (extreme or not) seems to be rising by the day - because that has worked so well in the past."

more...
No comment yet.
Scooped by Hal
Scoop.it!

John Williams - The “Recovery” Faked By Phony Gov. Numbers

John Williams - The “Recovery” Faked By Phony Gov. Numbers | Gold and What Moves it. | Scoop.it

John Williams, of Shadowstats, stated in his latest commentary, “The recovery is an illusion.” There are two graphs in this piece from Williams, which show highly manipulated and phony government GDP reporting versus the inflation corrected real GDP. The difference between the two graphs is a shocking revelation of government propaganda at its best. Here is what Williams had to say: “The illusion of an economic recovery continued with today’s (April 27th) headline report of 2.2% growth in first-quarter gross domestic product (GDP) ... Official reporting now shows that GDP activity has moved successively higher ... Yet, no other major economic series has confirmed that pattern. If the GDP data were meaningful, that circumstance would be nearly impossible.”

more...
No comment yet.
Scooped by Hal
Scoop.it!

High stakes for US in China standoff over Chen Guangcheng - CBS News

High stakes for US in China standoff over Chen Guangcheng - CBS News | Gold and What Moves it. | Scoop.it
CBS NewsHigh stakes for US in China standoff over Chen GuangchengCBS News(CBS News) WASHINGTON - The White House is trying to contain a potential crisis before bilateral talks between the US and China kick off on Thursday after a prominent legal activist...

 

{I think this particular story is worth keeping an eye on. It further strains the relationship status between China and USA. What financial actions will China make in the Chess game now?}

more...
No comment yet.
Scooped by Hal
Scoop.it!

Bill Black: Our System is So Flawed That Fraud is Mathematically Guaranteed

Bill Black is a former bank regulator who played a central role in prosecuting the corruption responsible for the S&L crisis of the late 1980s. He is one of ...

 

hat tip to Jim Sinclair's Mineset: http://www.jsmineset.com/2012/04/30/in-the-news-today-1176/ ;

more...
No comment yet.
Scooped by Hal
Scoop.it!

Indian gold prices testing new highs - GOLD NEWS

Indian gold prices testing new highs - GOLD NEWS | Gold and What Moves it. | Scoop.it

by Shivom Seth:

 

"For the first time ever, gold appears to be nudging the $570.77 (Rs 30,000) per ten gram mark in India, driven by consistent investment and speculative demand in the country. Gold prices have surged all of last week to touch a new peak at the bullion market, with prices edging past the crucial $562 per ten gram mark on Saturday. Because of the premium paid for gold on Indian markets this price level, equivalent to around $1773/oz, is higher than that quoted on Western markets.

 

"The precious metal appears to have staged a comeback, rising nearly $12 per 10 gram over the last week. Traders said although internationally gold is trading at $1,662 an ounce, it is still 16% lower than the last September peak of $1,924.

 

"There is also a 15% depreciation in the value of the rupee against the dollar since September 2011, which has meant that the yellow metal is back to the level last seen on December 8, 2011,'' said a bullion dealer.

 

"Silver has also edged higher on stray industrial support. Silver gained by $0.30 per kilo to settle at $1,080.78 ($33.62/oz). Traders said after a bull run in 2011, the yellow metal had been witnessing a range-bound trade on sustained profit taking by retailers..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

WHY YOUR GOLD WILL RISE | The Prospector Blog

WHY YOUR GOLD WILL RISE | The Prospector Blog | Gold and What Moves it. | Scoop.it

"PROSPECTOR: I am willing to bet a bullion ounce of gold that student loans join the bailout list! My interest is to not argue bailouts or “education tax”, my opinion only relates to how this affects your hard-earned stash of silver and gold.

 

"Let’s answer why this is so very significant now. This bailout is eminent, and planned for. The US government took over student loans early 2011 knowing this insurmountable debt wave is crashing. The question if it’s politically motivated is one I’ll pass to you. Again, my motivation goes no further than a PM observation..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

oftwominds-Charles Hugh Smith: The New Drug of Choice in the White House, Federal Reserve and Treasury: Delusionol (tm)

oftwominds-Charles Hugh Smith: The New Drug of Choice in the White House, Federal Reserve and Treasury: Delusionol (tm) | Gold and What Moves it. | Scoop.it

Funny piece from Charles Hugh Smith:

 

"Inside sources are reporting that there's a new drug of choice circulating in the hallways of power--the White House, Federal Reserve and the Treasury Department--and it's a perfectly legal prescription psychotropic: Delusionol (tm).Delusionol works by activating the parts of the brain that replace cognition and reasoning with positive fantasies.

 

"For example, a driver on Delusionol might run over a person in a wheelchair, bounce off a fire hydrant and send a baby carriage hurtling into a brick wall, and they would be happily convinced that they were an excellent driver.

 

"Now you understand why Delusionol is being gulped in vast quantities in the halls of power..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold's Long-term Picture Remains Bullish | P Radomski | Safehaven.com

Gold's Long-term Picture Remains Bullish | P Radomski | Safehaven.com | Gold and What Moves it. | Scoop.it

by P Radomski:

 

"Lately, gold has been a disappointment to many investors while it has been mostly treading water. Gold has traded well beneath its all-time high of $1,924 an ounce on September 6th and well above its subsequent low near $1,520 which took place in late December. Many anticipated higher prices this year, but the year isn't over yet, and neither is gold's long-term spectacular, secular bull market. We are now in one of those periods of consolidation that tries the souls of gold investors, tests their resolve and challenges their staying power. This is when the market takes a breather and adjusts to prepare for the next major move.


"If you need some encouraging news, according to the latest IMF statistics, at least 12 countries are known to have increased their gold reserves in March continuing a trend that goes back more than two years. Overall Central Banks appear to have purchased about 58 tons in the month, which suggests acceleration in their gold accumulation. The significant purchases were by Mexico, which increased its holdings by 16.81 tons; Russia with purchases of 16.55 tons and Turkey with 11.48 tons. The statistics only show the figures for those nations which are transparent in their reporting. In the past there have been some sharp 'upwards adjustments,' to gold reserves notably from China, which seems to like to accumulate its gold on the quiet. Last year Central Banks that do report their statistics bought 439.7 tons of gold and many gold analysts are predicting similar levels of purchases in 2012. And to think that years ago investors feared that the bull market will end a long time ago because of massive sales of gold by governments and monetary authorities over the world..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Twitter / Laura Gross: #CurrencyWars continue: Pe ...

#CurrencyWars continue: People's Bank of China expanded the range that it would allow the CNY to rise or fall each day http://t.co/TfcyffoQ
Apr 27 via bitly Favorite Retweet Reply

#CurrencyWars continue: People's Bank of China expanded the range that it would allow the CNY to rise or fall each day http://t.co/TfcyffoQ...
more...
No comment yet.
Scooped by Hal
Scoop.it!

Twitter / Spence Cooper: “Mortgages Now On Sale at ...

“Mortgages Now On Sale at Costco” http://t.co/wv4UKTYA
Apr 27 via Tweet Button Favorite Retweet Reply

“Mortgages Now On Sale at Costco” http://t.co/wv4UKTYA...
more...
No comment yet.