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.

TFMR Podcast - Friday, April 24

Another down day and it was an odd day, at that. While the yen rallied and the dollar fell, gold was down over $16 so you can clearly lay the blame for today's decline at the feet of the Bullion Banks. The question becomes why. Why raid price today?

An Update from Bullion Capital CEO, Tom Coughlin

A few weeks ago, we notified you about a brand new global, physical precious metal exchange that was being built with the expectation of eventually drawing interest and pricing power away from London and New York. Today, we have an update on the status of the rollout of this new exchange.

Just The Metals

Just a brief post to update where we are and what to expect next week.


Since the podcast we'd hoped to have today was rescheduled for tomorrow, we instead hosted an impromptu A2A with TF earlier today. The questions were wide-ranging and fun so I think you'll enjoy listening.

Under The Surface

While the computer-derived paper price of gold continues to be jerked around by the whims of the Forex algos, I thought I'd bring to your attention some far more important items that are bubbling just beneath the surface.

TFMR Podcast - Wednesday, April 22

Today we discuss silver's surging open interest, the ongoing algo link of the yen to gold and the recent discussions regarding JPM's alleged physical silver stockpile.

Guest Post: "The Tower of Greed", by Rory Hall of The Daily Coin

Please take the time to read this terrific post by Rory Hall and, when you're done, be sure to visit his website,

Ukraine Update from Batchelor and Cohen

Sorry for the delay in getting this posted today. Apparently some issues at my podcast server company. But all is well now and I urge you to carve out some time today to listen to this very important update from JB and Professor Cohen.

Back to PoundTown

And why is gold down today? Is it the fundamentals? Could it have something to do with physical supply and demand? Maybe some major seller has appeared? Nope. The yen is down, so gold is down. It's no more complicated than that.

TFMR Podcast - Tuesday, April 21

An interesting day with gold stuck firmly between its primary moving averages and silver struggling to remain afloat near $16. However, some good news was seen this afternoon in the open interest reports and the global geo-political situation continues to darken. Could another rally be right around the corner?

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