Turd with Elijah Johnson of FinanceAndLiberty.com

Earlier today, I had the pleasure to visit once again with Elijah Johnson of FinanceAndLiberty.com.

This interview was actually quite a bit of fun as Elijah gave me plenty of opportunity to give detailed opinions on all sorts of subjects, including:

  • Physically deliverable gold futures contracts are coming Asian markets
  • Manipulation: gold & silver price fluctuation limits will be implemented
  • London gold vaults are empty, gold price spike ahead
  • Silver price will follow gold higher. At $19/oz, silver is a "bargain"
  • Federal Reserve "taper" and Friday's job numbers are lies

Have fun listening and be sure to check out all of Elijah's work at https://www.youtube.com/user/FinanceAndLiberty

TF

 

44 Comments

Cleburne61's picture

First?

First?!

Now to listen....

Thanks Turd and Elijah!

pm_newbie's picture

here again

In the top three twice today!

4 oz's picture

Nice lil pop here in the

Nice lil pop here in the overnight....

AlienEyes's picture

5

I'll take the 5th.

.

Or maybe the fourth ?

tyberious's picture

Back from the Derby

And all I won was a 3 day hangover!! :)

LATEST POSTS

Dr. Jim Willie-Russia May want Gold Not Stinking Dollars

on: 05/7/2014 by Greg Hunter  No Comments

Dr. Jim Willie: Gold Update, Russia and Ukraine, Janet Yellen & MoreBy Greg Hunter’s USAWatchdog.com

Financial newsletter writer, Dr. Jim Willie, thinks the Ukraine crisis is more of a financial war than a shooting war.  Dr. Willie says, “A couple of months ago, I said, ‘Give it time and the whole nation would sink,’ and the Putin strategy would be to create a standoff militarily, maybe some skirmishes, but let the nation sink.  It’s been raided of its gold and raided of its official government funds; and, now, the energy companies are in there doing fracking.  I think what is happening now is we are starting to see the breakdown.”

(more…)

El Gordo's picture

I want to buy gold...

...but it still looks to me like silver is the better value.  What do you think? (Please note that I did not ask "how do you feel,"  I asked "what do you think.")

DeaconBenjamin's picture

Three questions for David McAlvany

1) What is the status of your bet with your father regarding China?

2) Given the current gold/silver ratio, do you advise your clients to buy silver first, or gold? 

3) If clients prefer silver to gold, at what gold/silver ratio should they start to trade some silver for gold?

Strongsidejedi's picture

TF! Where's the hat?

TF, interesting comments and interpretation, but you need to enforce a standard on all web appearances.

For now, they must include the yellow hat.

I know you may have eaten the hat (or more than one?).

However, hopefully you have a replacement and can encourage all other webcasters to show your pic with the hat on!

Dagney Taggart's picture

Fluctuation Limits

Am I correct to assume the 1% rule would apply only to the Comex? Wouldn't that make US day trading easy: buy at 1% down, sell at 1% up on days when these limits are hit. Either sell at 1% up and go home early or close at the end of the day with no gain or loss?

Of course Shanghai would laugh at such controls.

Hagarth's picture

GLD would be empty in months...

If the Comex imposed limits.  Why not have Comex delivered gold then send it to Shanghai for greater profit?

Dagney Taggart's picture

More Fun

for the Cult of Dan (courtesy of @RudyHavenstein)

Magpie's picture

"Structural drivers behind the soaring costs of middle class"

http://www.oftwominds.com/blogmay14/costs5-14.html

Asking the state to limit financialization is like asking the fox guarding the henhouse to stop eating plump hens. If the fox stops consuming the plump hens, it dies. If the state stops financialization, the state's enormously expensive programs and its debt machine all die, too.

In essence, the state has no choice: to save itself, the middle class must be sacrificed. From the point of view of global capital, the ideal partner is a powerful central state that imposes cartel pricing on the economy: $200 million a piece F-35 fighter jets, $100,000 college diplomas, $200,000 medical procedures, $1,000 a pill medications, etc.

From the point of view of the state, it's more important to protect corporate profits and preserve the ability to borrow another trillion dollars at near-zero interest rates than it is to restore a vibrant middle class.

Debt-serfdom works just fine for the financial sector and the central state that enforces the serfdom. Food stamps (bread) and distracting entertainment (circuses) are cheap. What's not to like about debt-serfdom to those in power? Not only is it an ideal arrangement, it's the only one left to the state and its partner, global capital.

flyinkel's picture

Jackass

Great.  Thanks.  Jim Willey, on the money, once again.

Ukrain central bank run by a Mossad member in Kiev (bank has dark history, home of Nigerian fraud)

Russian fly-by of Navy ship jamming incident; no air, sea, or missle superiority

Yellen backdoor taper is actually a backdoor plus-up via Belgium treasury purchases

We are in an accelerating downward recessionary spiral (real statistics adjusted for govt lies -5%)

Russian and China have at least 20,000 tons of gold each

Shanghai Free Trade Zones will be completely outside London and US banker reach

Many gold backed currencies coming including Gold back Gulf Dinar

US $ devaluation 30% first year, 80% within 2 yrs.

Also this Report from 2012 Bilderburg meeting forecasts Russian involvement (Crimea) and dollar devaluation, be sure to read to bottom  (text is English, Spanish, back English) http://www.danielestulin.com/bilderberg-reportinforme-2012/

Proves they fully intended to devalue the dollar while pitching a raft of lies about QE stimulation.

TomMack's picture

trading limits

There is no trading when the market is limit up or limit down.  When the future contract is "locked" at limit up there are no sellers  of that future contract.  the sellers will wait until the future contract opens the next session.  If it is again limit up (all bids) the sellers will again hold off until the next trading session.  this happens until the price is high enough to attract sellers.  NYMEX crude oil, heat and gasoline traded with limits in the 1980s and 90s (2 cent limit 1st day, 4cents the next session, 6cents the 3rd and 8 cents the 4th).  eventually without any contracts trading for a few sessions sellers would show up.  Saddam's first war made the NYMEX redo these limits.

Groaner's picture

FEd speak coming so slam gold.

usd pig up .01 so slam gold..

Its WED. so slam gold..  tedious 

Weasel Tracker's picture

The Silver (Line)ing in The Price of Silver

Pining 4 the Fjords's picture

Excellent interview, TF

And Elijah is an impressive young man- I wonder if he posts here?

Les Baux's picture

Same names, different rumors

Interesting discussion, but I'm starting to get jaded by hearing the same names over and over as 'authoritative' sources on why it's 'obvious' that long term price suppression is true and when and why it will collapse.  It would be very interesting, for example, to know if the London vaults are indeed empty, but the only evidence seems to be a handful of people saying so and pointing at each other to back it up.  I see no more real reason to believe it than to believe in the 'big news' that was supposed to come for years from Maguire's thing with the CFTC, or any number of other rumors that were accepted as cold hard fact that never came to pass.

It's starting to feel kinda incestuous, and it is a pattern for all sorts of claims that are central to the 'PMs will break out and go to the moon' argument.

Turd Ferguson's picture

Well, Les

MODERATOR

I can 100% confirm for you that "Maguire's thing with the CFTC" was, in fact, The Real Deal with real whistleblowers and damning information involved.

I wish I could confirm the "empty vault" thing but, obviously, I can't so I just have to go with the accumulated heresay. Take it for what it's worth.

Cleburne61's picture

Turd

Is negative GOFO for 21 out of the last 22 trading days.....hearsay?

Is that not reasonably conclusive evidence?  Is it not part of your ongoing analysis?

Why the hell would GOFO ever be negative through the 6 month, ever, if gold was flowing out of every orifice in their bodies?

Les Baux needs to watch the GOFO everyday for his evidence.  Everyone else should do the same.  It's the very best "tell" you'll ever get in this opaque market.

ag1969's picture

Interesting discussion Turd...

... but I'm starting to get jaded by hearing the same names over and over as 'authoritative' sources on why obvious and illegal long term price suppression is not ongoing and that the economy is improving.  It would be very interesting, for example, to know if the London vaults are indeed empty, but the only evidence seems to be a handful of bankers that will never allow an audit.  I see no more real reason to not allow an audit for the 'big news media' to record for all to see, if indeed the metal is really there.  I would also like someone of authority to speak out against the crimes the bankers have already been caught in, Mortgage Fraud, LIBOR, FOREX, energy market rigging, etc... and see some prosecutions for the crimes accepted as cold hard fact that never came to pass.

It's starting to feel kinda incestuous, and it is a pattern for all sorts of claims that are central to the 'PMs will break out and go to the moon' argument.

Thanks for coming in today Turd.

Turd Ferguson's picture

I'm sorry but I'm confused

MODERATOR

The fact that crimes have not been prosecuted in other areas means that gold price isn't manipulated/suppressed?

Turd Ferguson's picture

But I didn't mention GOFO as hearsay

MODERATOR

I used the term in relation to the hearsay that is Hoffman, Stanczyk, Rickards, Macleod et al. All of them state independently that "the vaults are empty". Individually, they're in a position to know but, taken as a group, it's hearsay until someone conducts an audit or walks around a London vault with a hidden camera.

Response to: Turd
ag1969's picture

Oh Darn

Did I not word my snippy retort properly?  Oh, and forget Maguire's thing with the CFTC, whatever happened to Chilton's thing with the CFTC...you know... because he was actually on the CFTC, and admitted there was funny goings on in the silver market?  Yeah, yeah, I forgot about that!  So now Chilton's blatant disregard for the rule of law is somehow a poor reflection on Andrew?  But I digress... 

Cleburne61's picture

Right

I understand you saying that, I guess I'm just saying that to the gent you were speaking to.  He honestly expects someone to walk into the LBMA vaults, take some photos, and post them to facebook!

It's not going to happen.  We'll sooner get a Fort Knox audit than that.

The only evidence we'll be 'allowed' to see is GOFO.  Your friend should stick to that metric.  I wasn't chastising anyone, but just exhorting folks to watch the only empirical data we're going to have. Thanks for all the hard work, Turd.

Les Baux's picture

Not any one thing

You can convince yourself there is good reason for a lack of evidence for your favorite theories.  Individually, the explanations might even be plausible.  Maybe Chilton really did drop the ball on the Maguire thing.  Maybe somehow there is a massive conspiracy that is preventing any evidence of an empty vault in London from getting out.  Maybe there is a similarly massive conspiracy to keep everyone quiet about the various means of price suppression.  Maybe the reason that we have not seen even the slightest hint of physical/paper divergence despite the massive suppression and negative GOFO is simply that we haven't waited long enough (despite the consensus pretty much being that it should have happened years ago).

Individually, any of those things might be true, but the problem is that they ALL need to be true, and what are the odds against that?

I also find it unsettling that the noteworthy people who are claiming all of the above are also making their livings off of self-promotion based on those same claims.  I'm not accusing anyone in particular of fabricating X or Y, but it sure would be nice to see noise coming from a journalist whose only incentive is to be a good journalist.

benque's picture

LesBaux..your nose!

I think it's growing!  Quick, check the mirror.

Now don't try trimming it with a file, or pencil sharpener, unless you are a puppet.

Scooter's picture

Another Jim Willie

Another Jim Willie. Fast fwd to 29:30.

Swift Boat Vet's picture

Turd ------- Excellent Report Oh Great One !

Sir Turd !   Because this is truly one of ----

TURD'S TOOTHSOME TIDBITS 

I am forwarding this interview to my friends and family as a synopsis of my last several years worth of research, listening reading and learning.

Keep it up, Oh Great One of the PM Market

Swifty

Syndicate contentComments for "Turd with Elijah Johnson of FinanceAndLiberty.com"