Pedal to the Metals

Analyzing the above chart from the COT report released Friday, Got Gold Report‘s Gene Arensberg, under the headline “Gold Legacy COT Stunner,” writes that “as gold gained $45.72 or 3.3% to $1412.78 Tues/Tues combined commercial traders very strongly reduced their collective net short positions by a huge 37,541 lots or 26.5%, sending the relative commercial net short position or LCNS.TO hurtling lower to just 25.2% of all COMEX contracts open (lowest since Nov of 2008 during the Panic). (Gold +3.3%, LCNS -26.5%!!) (Very bullish by itself, without considering the other data.)”…Read More >>>

About what was described as Friday’s “bloodbath” in the gold markets, Jesse’s Café Américain points out that “There was no news to provoke this kind of a massive sell off in a quiet market and on heavy volume,” which saw gold and silver futures drop 4.1% and 4.9% respectively. Quoted by MarketWatch, the Got Gold Report‘s Gene Arensberg fingers Goldman Sachs:  “Give credit where credit is due — to Goldman Sachs, for a masterful sell raid on gold.”

Metals market analyst and whistleblower Andrew Maguire tells King World News that while Friday’s sell off was “in excess of 500 tons of paper gold,” China has “purchased and taken delivery of over 400 tons in less than a month and a half.” He contends that “What we are seeing today is actually a very positive development.  I think we’ve reached a point of capitulation. I cannot see how the central bank buying cannot overwhelm all of these short sales, despite the leverage.” And Dan Norcini gives a qualified agreement, writing that “It is too early to call this as a final washout day but it has the makings of one.”

News & Views

GoldSeek:  Gold and silver fall about 6% and 4% on the week

Zero Hedge:  Gold Bitcoined, bonds & yen Soar, Dow back to unch (of course); The gold and silver morning takedown is back

USA Gold/Mineweb:  Gold falls through range lows; Lawrence Williams:  Gold price manipulation – the never ending game?

KWN:  Paul Craig Roberts – Fed orchestrated smash in gold; Michael Pento likes gold but warns a stock market crash is coming

Wealth Wire:  Remove Goldman’s golden veil

MarketWatch/The Golden Truth:  Cyprus causing fresh market pain as doubts grow over ability to meet bailout terms; The wheels are coming off in Cyprus – This is bad news for the U.S.

Bloomberg/Telegraph/Mike Shedlock:  Draghi says any Cyprus gold sale must cover emergency-loan loss; Liar, liar, pants on fire; Spoon-fed demands by the number

Gary North/Daily Bell:  Will Cyprus’ central bank sell some of its gold?; Was Cyprus attack also an attack on gold?

Barron’s/Thomson Reuters:  Commerzbank – Cyprus gold sale is no sign of Europe’s future; Graphic of the day – Gold reserves

Bloomberg:  Analysts – The era when safe havens are no longer safe

Reuters/Daily Reckoning:  Austria slams US, UK “tax havens” as EU turns up heat; The IRS is following your digital tracks

Economic Collapse:  The tunnel people that live under the streets of America

U.S. News/Spiegel/Bloomberg:  Here’s how lousy life is in North Korea; Foreign tourists flock to border between North & South Korea; N. Korea’s retro propaganda calls U.S. boiled pumpkin

“There are few better barometers to gauge demand for bullion products on the street than the dealer to dealer premiums on those products,” according to the Got Gold Report’s Gene Arensberg. Citing the above chart, he notes that “The last time we witnessed premiums of this size for ‘junk silver,’ as it is inappropriately called in the trade, was during the 2008-2009 crash in silver prices.  During the height of the panic then, as silver collapsed from roughly $18 to about $9, premiums spiked briefly as high as $4 over spot.

The recent rise in premiums absolutely reflects the fact that with silver under $30 fewer owners are willing to part with the popular silver product at the same time as investors want to purchase more of it.  Independent dealers locally report that ’90%’ is available, at a price, but they also report very steady, even robust demand for all legacy U.S. gold and silver coinage at the moment. As long time members know ’90%’ is our favored way of owning silver metal.”

News & Views

Jesse’s Café Américain/Bloomberg:  Metals hold up while miners trounced again; Gold futures rebound 0.4% as dollar weakness boosts demand for metal; silver gains 0.3%;

Seeking Alpha:  A U.S. dollar retreat could ignite the precious metals market

CNBC:  Cyprus central bank denies plan to sell gold; Why a Cyprus gold sale isn’t being taken seriously

Gold Silver Worlds/Tim Iacono:  Cyprus & gold – Noise vs. facts; Cyprus gold sale misinformation – Is everyone out to get gold?

Money Morning/Real Asset Co.:  Gold bulls about to win the war; Do the goldbugs know something you don’t?

Visual Capitalist:  The golden ratio: Using gold to price market data

Mineweb/Silver Doctors:  Sprott’s John Embry:  Why I like both gold and silver; Comex silver inventories fall off cliff as registered silver declines 10% in 48 hours

Zero Hedge/Phoenix Capital Research:  Food inflation everywhere, but not a bit in CPI (yet); Why lie about inflation? Because it covers up bigger lies

Dow Jones/Spiegel:  EU sounds alarm on Spain, Slovenia; U.S. economist Carmen Reinhardt:  ‘The crisis isn’t over in the U.S. or Europe’

Telegraph:  IMF raises concerns over QE ‘cold turkey’; China’s shadow banking boom rings alarm bells

NY Times:  Seeking relief, banks shift risk to murkier corners

Mineweb/AP:  Fate of Arizona’s gold and silver legal tender bill now rests with governor; State’s Dept. of Revenue wants no part in bill

GATA:  Canada’s CBC to air ‘The Secret World of Gold‘

MarketWatch offers up a laundry list of reasons for why gold sold off 1.8% on Wednesday.  First is that Goldman Sachs cut its price forecast for 2013 from $1,610 to $1,545, but a CNBC commentator points out that “we all know and have seen Goldman reduce or raise forecasts in order to find themselves a better entry or exit point, so this should all be taken with a grain of salt.” Other reasons given for gold’s fall were that “the dollar strengthened, equities rallied and Federal Reserve officials offered mixed signals on the duration of its bond-buying program.”

Finally, Cyprus reportedly agreed to sell $522 million worth of gold. One analyst told Reuters that “The amount mentioned, 10 tonnes, is not large – we’ve seen that on average come out of exchange-traded funds this year every week. But it’s the first euro zone country to have said it will do this, and the first euro zone country to sell gold, other than Germany’s coin program, for a while.” According to figures released Tuesday, the net gold flow from Hong Kong to China was 60.95 tonnes in February.

News & Views

Dan Norcini:  Gold knocked back down into support; Yen gold scores all-time high

Bullion Street/Gold Silver Worlds:  Gold selling spree hits Japan as prices soar; Jim Rickards – Gold is always rallying somewhere

Tim Iacono:  Is there more to come after Tuesday’s silver surge?

KWN:  Goldman Sachs call to short gold, triple-digit silver & chaos; Jim Sinclair – The coordinated attack on the gold market

Got Gold Report:  If Goldman is “initiating” a short gold position we will eat our hats

Action Forex/CNBC:  FOMC debates asset purchases, but no clear consensus on winding down QE; Trader:  If Fed ends QE abruptly, it will be a ‘disaster’

Sprott Group:  Dropping “carpet bombs of liquidity“

Bloomberg/CNBC:  Goldman Sachs, Citigroup among recipients of early Fed release;  Bob Pisani – Why is Fed sending minutes to lobbyists?

Zero Hedge:  Fed releases names of early FOMC minutes recipients; Meet the Fed employee who leaked the minutes

Phoenix Capital Research:  You will never receive a warning from a central banker, banker or politician; Why are central banks buying gold?

Bullion Street/Economic Times:  Dubai gold trade hits $70 billion , accounts for 20% of global trade; Indian government’s attempts to rein in gold imports fuel smuggling

New York Times:  Wary of events in China, foreign investors head to Cambodia

Telegraph/The Big Picture:  Big banks ‘more dangerous than ever‘, IMF’s Christine Lagarde says; Only a tiny percentage of Americans opposed to breaking up big banks

As gold & silver drop 1.1% & 1.4% respectively on Wednesday, erasing most of Tuesday’s gains, Mineweb‘s Lawrence Williams asks, “Can gold’s fragile recovery take hold?” This as Dan Norcini points out that just “three little words” uttered by Fed Chairman Bernanke, in House testimony on Wednesday, show “how incredibly sensitive gold is to anything related to this bond and mortgage-backed securities buying program.” And, a retired Ron Paul reflects on why he misses questioning Bernanke, and explains what he would have asked him.

News & Views

MarketWatch/Bloomberg:  Gold settles under $1,600 after two-session climb; Gold heads for longest run of monthly declines since 1997

Michael Pento/CNBC:  No easy escape for the Fed; Former NY Fed member:  Investors too focused on Fed’s minority views

Mike Shedlock/Sharps Pixley:  Less than useless:  Goldman Sachs lowers gold forecast following plunge (purposely late?); Gold & silver – Goldman wants your gold!

The Golden Truth/KWN:  This is a must read and it’s why you must own gold/silver; Key charts which predict a violent move higher in the metals

Seeking Alpha/SilverSeek:  Some political considerations for silver prices; Silver: Buy now!

Zero Hedge:  Rick Santelli on the securitization of gold

Coin Update/Fox Business:   US Mint increases prices for gold, silver & platinum products as precious metals fall; Will drop in gold help or hurt coin buyers?

Guillermo Barba:  Mexico’s federal audit demands physical inspection of gold holdings

A View From the Trenches:  Gold manipulation:  Part 1 and Part 2

Reuters/Bullion Street:  Indian gold demand jumps on fears of higher import duty; What’s with Russia buying even more gold

Mining.com:  The end of paper money? Europe hit by gold rush as crisis worsens

Spiegel/Globe & Mail: Europe frets over Italy: ‘Two clowns won the election’; Italy’s anti-austerity ‘rebellion’ promises to spread

WSJ/Zero Hedge:  Wal-Mart’s sales problem—and America’s; How America makes up for the lack of manufacturing

Gold and silver futures gained 1.2% and 3.2% respectively on Wednesday, shooting up when the Commerce Department reported that the U.S. economy had unexpectedly contracted in the 4th quarter of 2012, driven in part by a fiscal cliff-related drop in defense spending.  The metals rose further when the Federal Reserve announced at the end of its two-day Federal Open Market Committee meeting that it will continue to purchase securities at the rate of $85 billion per month.

Dan Norcini points out that “Prior to today’s GDP report, there were genuine fears of a curtailment in the QE4 program coming sooner rather than later. Today’s GDP number should put those fears to rest. This is what has gotten both gold and silver in such a tizzy this AM…. Traders are now revising their views of any premature end to QE4; based on today’s contraction, it ain’t gonna happen anytime soon.”

News & Views

Bloomberg:  Gold heads for biggest gain in 3 weeks on U.S. GDP data; silver jumps most since September

Zero Hedge:  US ends 2012 with 103.8% debt to GDP; Stocks catch-down to credit as silver surges

P. Radomski/GoldSeek:  Gold & QE:  Inflation all over again?; Why isn’t gold higher?

BullionVault/Real Asset Co.:  Printing money – gold owners speak; Why the Fed needs golden handcuffs

Mineweb:  U.S. Geological Survey:  U.S. gold, silver production down in 2012

SilverSeek:  Silver:  Buy, hold or sell?  Thursday – Free virtual silver investment conference

MarketWatch/Telegraph:  The real euro crisis is just starting; France ‘totally bankrupt‘, says labour minister Michel Sapin

Mineweb:  Is gold the answer to Europe’s worst case scenario?

GATA/Bloomberg:  Two major Swiss banks nudge customers into allocated gold

Gold & Silver Blog:  GATA finally gets the recognition It deserves

New York Sun/USA Watchdog:  The fiat Dow; May 2013 – End of the Road – John Williams

Bill Bonner/Zero Hedge:  The US middle class gets scalped; How Venezuela’s socialist revolution generated a 681% return for Goldman Sachs

As Zero Hedge illustrates what “1,230 days (and counting) of explicit market support by the Fed looks like,” Eric Parnell describes — see above graph — how the Fed has entered a new phase of QE3 in which it has basically doubled its asset purchases since early January. He reasons that “it would not be surprising to see stocks continue their drift higher in the coming weeks.”  But he also cautions that “at some point, the marketplace will become exhausted even under the influence of QE3,” and “unfortunately, a bell will not ring when the market transitions into its next phase.

Thus, maintaining portfolio hedges in other asset class categories that can consistently rise under the influence of Fed stimulus but perhaps for different reasons also remains worthwhile. Leading among these is gold and silver, both of which stand to be direct beneficiaries of the currency debasement associated with the Fed along with other global central banks continuously increasing the supply of their currencies.”

News & Views

Reuters/MarketWatch:  Gold down 0.4% on EU data, better economic outlook; silver gains 0.8%

DanNorcini:  50-day moving average stymies gold

CNBC/Barron’s:  Global stimulus puts upward pressure on commodities; Barron’s Roundtable: Bullish on gold

Economic Times/Arabian Money:  Goldman Sachs forecasts gold rally as US debates debt;  Turns positive on gold hitting $1,825 this year as Jim Sinclair proven right again

Bloomberg/GoldCore:  Standard Bank says physical gold purchases unusually high; Silver bars being secured by HSBC – buy $876 million worth from Poland

GoldSeek:  Why are central banks buying more gold than at any time in 50 years?; Forget Germany, check out Turkey’s central-bank gold

Gold Silver Worlds:  Gold – The world’s largest short squeeze is nearing?; Misunderstanding gold demand

Ron Paul/Bull Market Thinking:  Fiat currency is not wealth; Gold & silver: A bet against the unnatural

Mining.com/Reuters:  India strives to undermine its gold bugs; Gold buying evaporates in India due to import duty hike

Phoenix Capital Research/GATA:  Is China an economic miracle or government-sponsored fraud?; China can debate market rigging even as West can’t

Zero Hedge/Glenn Greenwald:  Asst. Attorney General admits on TV that in the US justice does not apply to the banks;  The Untouchables: How the Obama administration protected Wall Street from prosecutions

ProPublica: Explosive charge: Morgan Stanley peddled security its own employees called ‘nuclear holocaust,’ ‘subprime meltdown’ and ‘shitbag’

“Based on the Fed’s track record of predicting the future, this has to have been one of the dumbest reasons to sell gold and silver in recent years,” declares Tim Iacono, about the sell-off following last week’s release of December’s FOMC minutes, which suggested a possible end or pullback of QE in 2013.

Advising precious metals investors to “watch what the Fed does, not what the Fed says,” he points out that “just a few years ago, the Fed spent inordinate amounts of meeting time discussing their ‘exit strategy’ – and then they went on to buy a couple trillion dollars worth of mortgage-backed securities and government debt with newly printed money.”

And he predicts that “in the fullness of time, it will be realized that futures market selling simply provided another opportunity for long-term investors and central banks to increase their precious metals holdings at better prices.”

News & Views

Bloomberg/Reuters:  Gold drops for third straight session on Fed’s stimulus signals; Gold falls 0.6%, Fed asset purchases in focus; silver off 0.5%

USA Gold/CNBC:  Gold remains defensive after Fed tone change

Hard Assets Investor/Frank Holmes:  Fed balance growing to $2.9 trillion supports gold & silver; In 2013, resolve to follow the money

BullionVault:  Shanghai gold trading jumps as US gold derivatives shrink to 3-year low

SafeHaven:  Clive Maund – Market updates for gold and silver

Mineweb:  Mineweb readers pare average gold price forecasts for 2013; Gold; short-term, long-term and the Washington Effect

KWN:  Special U.S. dollar-gold chart series; Louise Yamada – Incredibly important chart & commentary on gold  

Reuters:  American Eagle gold coin 2012 sales down but outlook bright

Bill Fleckenstein/CNBC:   Brand-new year, same old saga; Analysts – Gold can still break through $2,000

Jesse’s Café Américain:  The legacy of the Fed and the U.S. experiment with fiat currency in one chart

GATA:  Fed ‘trying their damnedest’ to hold gold down but metal will win soon, Sprott says; Jim Sinclair: Campaign to discredit gold indicates worst desperation yet

Naked Capitalism:  SEC gives JP Morgan and other big banks license to manipulate commodities

Zero Hedge:  Gold: It’s for more than just wealth preservation

Analysts at Bank of America forecast that “large-scale policy easing by the Fed and the ECB should push gold prices higher.”  They see gold reaching $2,000/oz in 2013 and $2,400 in 2014. In the new report they also estimate what gold’s floor might be:

“Our analysis shows that investors will have to buy significant amounts of gold to push prices above $2,000/oz this year. However, with emerging markets getting richer, their budget allocation to non-essential items such as gold will likely increase in the long-run. This means that the marginal importance of investors could start to decline in the longer term, likely supporting a gold price floor above $1,500/oz over the next decade. In any case, a firm recovery in the US and global economies will remain the greatest risk to gold prices over this new phase of QE3, as a rapid and disorderly unwind of this monetary easing cycle would likely drive investors out of gold, in our view.”

News & Views

MarketWatch/Reuters:  Gold futures log first loss in four sessions; Spot gold edges down 0.2% on U.S. budget hopes before FOMC, silver off 1%

Jesse’s Café Américain:  Gold & silver charts – Capping action in gold & silver is heavy-handed and obvious

Mineweb/GoldSeek:  Next stage QE will be further boost for gold and silver; Gold investors need unsterilized milk

Bloomberg:  Fed seen pumping up assets to $4 trillion in new buying; Jim Rickards:  Fed is trying to import inflation

Michael Pento:  Employment condition gives central banks more ammo

Fortune/Of Two Minds:  Why quantitative easing isn’t working; Essays in fragility: Our one-off economy

KWN:  Gold & bond markets are now at a massive inflection point; Richard Russell: Stage now set for public to enter gold market

Gold Switzerland:  Egon von Greyerz – Gold and silver poised for major move

Wealth Wire/J S Kim:  Sprott’s still hot for silver; The essential newbie guide for buying gold & silver

Mineweb:  U.S. Mint gold and silver coin sales skyrocket y-o-y after presidential election; Silver sales set to outshine gold in India

Zero Hedge:  October US exports plunge by most since January 2009 as trade deficit with China hits record

GATA/NY Post:  Secret IMF report: Hide gold loans and swaps for market manipulation; CFTC’s Chilton criticizes ‘puny’ $1.5 million settlement with Goldman Sachs

Telegraph/Bill Bonner:  World risks fresh credit bubble, Switzerland’s BIS warns; Don’t bet on Saudi America

William Cohan:  Citigroup’s amazing Abu Dhabi adventure

Reuters/ABC News:  HSBC to pay $1.9 billion U.S. fine in money-laundering case; Too big to prosecute?

A MarketWatch report that  “Silver gains favor as an investment asset,” cites last month’s forecast by Thomson Reuters GFMS of a silver rally in 2013 based primarily on investment demand, and quotes Silver Price Advisor‘s Mark Thomas, who says “The evidence is clear that investment, not industrial demand, is what is driving silver prices higher.”

“Many analysts tout silver’s dual role as an industrial metal as an added advantage,” adds newsletter publisher Brien Lundin, but “it is silver’s monetary utility that justifies its current valuations, and that is the only basis on which it should be analyzed in the current environment.”

The article also quotes Paul Mladjenovic, author of “Precious Metals Investing for Dummies” who says that “Silver is increasingly seen as an undervalued asset and its strong consolidation levels around $30-$33 are seen as a buying opportunity.  Silver is also getting more acknowledgment as being more scarce and more affordable than gold.”

News & Views

Reuters:  Gold rises from 1-month low after U.S. payrolls, gains 0.2% as silver adds 0.1%

Zero Hedge:  U.S. jobs “additions” by age group reveals the scariest picture; Number of workers aged 25-54 back to April 1997 levels

P. Radomski/Seeking Alpha:  Does gold’s lack of reaction to a weak dollar invalidate its bullish outlook?

BullionVault:  Investing for 2013: Why investors are buying gold; What we can learn from the central bank gold agreement

Tim Iacono/Yahoo! Finance:  Fade Goldman’s bearish gold call; Ignore Goldman Sachs’ bearish gold call

Resource Investor:  Goldman ready to reverse on gold later – Jim Sinclair

GoldSeek/Silver Doctors:  Precious metals investment & the rise of false contrarian gurus; How to spot good & bad precious metals analysis

Commodity HQ:  Preparing for economic headwinds: Bill Gross’ commodity picks

Bloomberg:  Fed exit plan may be redrawn as assets near $3 trillion; UBS says a Fed QE move next week ‘not priced in‘ for gold

Money Morning/Zero Hedge:  Why gold prices will soar after the Dec. 12 FOMC meeting; Gold & silver “price per ounce” in context

Bloomberg/KWN:  Gold imports by China from Hong Kong decline on weaker demand; Here is the gold market in one fantastic chart

CNN/NPR:  Fiscal cliff:  What isn’t said tells more than actual words; Why a ‘fiscal cliff’ failure could help the economy

Demonocracy:  US debt visualized in $100 bills/Video

One day after Goldman Sachs lowered it’s forecast for gold, prompting the observation that its “Right hand does not know what its left hand is doing,” Morgan Stanley said that “We maintain our long-standing recommendation of overweight exposure to precious metals as conditions underpinning the gold bull-run largely remain in place.”  Those include a weaker U.S. dollar, central bank buying, ETF demand, and a recovery in Indian demand.

News & Views

Bloomberg:  Gold rebounds 0.5% after Draghi signals rate cut is possible; silver also gains 0.5%

Dan Norcini:  Gold pops above $1700; Silver above $33; ECB’s Draghi undercuts the euro

BullionVault/KWN:  “Mystery gold seller” spied in Asia as investment banks argue over 2013 outlook; Ben Davies – Gold shorts are now exposed to a price spike

Reuters/The Golden Truth:  Fed to launch fresh bond buying to help economy; Regarding gold: Follow the money

Mineweb:  Gold and silver the ‘go-to’ assets for capital preservation – Thunder Road Report

Coin News/CNBC:  US Mint weekly sales gains second highest for 2012; The trillion-dollar coin is back

GoldSeek:  China plans to double gold consumption in 3 years, how high will gold prices go now?

Bloomberg/Firmex:  China and the U.S., capitalism’s odd couple; Infographic:  The shift from East to West – Chinese investment in North America

GoldMoney:  James Turk – Aboveground gold stock likely smaller than commonly thought; Alasdair Macleod on safety issues with GLD & SLV

GATA:  BBC‘s ‘Panorama’ killed report exposing silver market manipulation; Telegraph‘s Ambrose Evans-Pritchard admits gold questions are legitimate

CT News:  Fool’s gold? CFTC says 12 firms sell phantom metals

Reuters: Conservative US Senator DeMint to resign, head up Heritage Foundation

Forbes:  Inside the Koch Empire: How the brothers plan to reshape America

The Big Picture/CJR:  Those idiotic ‘fiscal cliff’ countdown clocks? All wrong; Hot air Rises Above on CNBC

After Goldman Sachs lowered its gold forecast, predicting that an improved U.S. economy in the second half of 2013 “will outweigh further Fed balance sheet expansion and that the cycle in gold prices will likely turn in 2013,” futures traders were quick to debunk the call.

One told CNBC that “I think with QE still going on next year and no call for it to end, gold will go higher.”  And another agreed that “it’s too early to call.” He pointed to central banks “still adding physical gold to their coffers,” the continued strength in ETFs, and the U.S. dollar being historically “closer to the lows than it is to the highs.”

News & Views

ForexPros/Coin News:  Profit takers continue to hit gold below USD $1700; Gold dips for day two, silver rises, US coins gain

KWN:  Ron Rosen – Goldman Sachs’ call ridiculous, gold ready to rocket; Louise Yamada – The key levels to watch on gold & silver

Seeking Alpha:  Investment demand is key to rising silver prices; Silver: Short term & long term

MarketWatch/Mineweb:  With this volatility, is gold still a safe haven?; Gold disappoints – but still extremely positive for long-term holders – Jeff Nichols

The Gold Report:  Jason Hamlin:  Pent-up potential for precious metals in 2013

Bloomberg:  Gold seen to triple on world economic deterioration; Credit Markets:  Bailout cash gives Europe edge over U.S. in debt

Zero Hedge: Bombshell: Deutsche Bank hid $12 billion in losses to avoid a government bail-out

GoldCore/Reuters:  Central Bank of Korea calls gold “a physical safe asset,” buys 14 tonnes in November

Arabian Money:  Central bank gold purchases to top 500 tons this year in a new record supporting prices

Market Oracle:  More cracks appear for U.S. dollar as reserve currency; U.S. dollar cliff?

Forex Pros: On your marks! Get set! Gold… and silver, too

Spiegel/Tranparency International:  A tax evasion bonanza hidden in a Swiss bank;  U.S. is 19th out of 165 countries in the 2012 Corruption Perceptions Index

AP/Time:  Capitalism, socialism ‘most looked-up words‘ of 2012; LinkedIn’s top 10 overused buzzwords