The end of the Great Keynesian Experiment is upon us. Turd Ferguson and his band of loyal Turdites patrol this Watchtower. We are here to help each other navigate the coming economic chaos. However, no one can predict every eventuality, so please read the disclaimer and community guidelines before proceeding.

A Discussion of The Dollar, Gold and Chinese Liquidity with Paul Mylchresst

We've regularly published Paul Mylchreest's insightful analysis for about as long as there has been a TFMR. Whether his work is written independently or for his employer, ADM ISI in London, Paul consistently sees things that few others in the investment world notice and he writes with a clarity that everyone can understand. As you might imagine, it was a tremendous pleasure when, earlier this week, we finally had an opportunity to connect for a podcast.

<Please be sure to note that this is a free public thread.>


In AlgoWorld, the actual data is insignificant. All that matters is the printed headline that forces the HFTs into some wild and crazy (over)reaction. In this context, today's "market" reaction to the latest retail sales and PPI numbers is not surprising in the least.

A2A with Alasdair Macleod of GoldMoney

Alasdair Macleod has long been one of our favorite and most frequent podcast guests. As Head of Reserach at Goldmoney, few people are as fluent in the language of macroeconomics as Alasdair so, with the wildly-unpredictable 2017 upon us, there was no better time than the present to hear from Alasdair once again.

Fast Market

Things are getting really interesting, really quick as currency liquidity issues shake the global markets in a manner almost identical to January of last year.

TFMR Podcast - Wednesday, January 11

An absolutely fascinating day where wild swings in forex led to gyrations in nearly every other "market".

Changing Your Mindset

Who knows how many times we're going to have to repeat this in 2017. There are no "markets" least not in the sense that there used to be or what you are told. Instead, there are only digital platforms where prices of nearly everything are discovered through High Frequency Computer Trading, totally disconnected from arcane notions such as physical supply/demand and fundamentals.

A Critical JBSFC

Commenting on the strange and surreal headlines of last evening, Professor Cohen began last night's show with these words: "It's a dark night in the history of the American republic". If you've been listening to these podcasts for the past three years, you know that he's completely serious and not simply being hyperbolic.

TFMR Podcast - Tuesday, January 10

A somewhat happy Tuesday sets up what might be a rather compelling end of the week. Why? We've got a few ideas.

Green Day

Commodities are up across the board today and that, along with a falling USDJPY, has helped to nudge Comex Digital Gold even closer to its first encounter of 2017 with the important resistance of $1200.

TFMR Podcast - Monday, January 9

The new week began with a day that looked more like last Thursday than last Friday. Will this trend continue and will we soon get our first test of the critical $1200 level? Well, c'mon in and let's talk about it.

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