TFMR Podcast #19 - Jim Willie

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Like many of you, I know what is coming. I can see all of the pieces of the puzzle but I don't quite have the knowledge and expertise needed to bring all of the pieces together into a clear picture. Jim Willie does.

In this podcast, Jim takes today's seemingly unrelated headlines of European sovereign debt, JPM hedging losses and paper gold price drops and ties them all together into a tidy little package that clearly shows where we are headed in the not-too-distant future.

I think it's safe to predict that you will greatly enjoy this podcast and rank it among the best we've had to date.

TF


Comments

ClinkinKY's picture

Why we'll never see "none of the above" on the ballot

(Rasmussen Reports) — Here’s some bad news for Washington: More voters than ever would vote to replace the entire Congress rather than keep it.

The latest Rasmussen Reports national telephone survey shows that, if given the choice, 68% of Likely Voters would vote to get rid of the entire Congress rather than keep them all on the job. Just 12% say they would vote to keep the entire Congress. Twenty percent (20%) are undecided.

ClinkinKY's picture

Socialist--- "I've got mine...you can't have yours"

New French president Francois Hollande, who claims to ‘dislike the rich’, has THREE homes on French Riviera

Xty's picture

Speaking of women who are a problem

Mark Steyn: Fauxcahontas and the melting pot

Martin Luther King dreamed of a day when men would be judged not on the color of their skin but on the content of their great-great-great-grandmother’s wedding license application. And now it’s here!

Have you dated a composite woman? They're America's hottest new demographic. As with all the really cool stuff, Barack Obama was doing it years before the rest of us. In "Dreams from My Father," the world's all-time most-unread bestseller, he spills the inside dope on his composite white girlfriend:

"When we got back to the car she started crying. She couldn't be black, she said. She would if she could, but she couldn't. She could only be herself, and wasn't that enough..."...

http://www.ocregister.com/opinion/great-352668-warren-elizabeth.html

[Did the royal his bumness really 'write' that?  Like a horrible Harlequin - did he then rip off her bodice and make her feel that she was black enough for the moment?]

Xty's picture

and speaking of Mark Steyn

I was actually searching for his column from a few years back about Elf 'n' Safety, in which he described how the pall-bearers could not bear pall at a funeral, and when he and his brother went to pick up the coffin were informed that they were not licenced pall-bearers and so they also could not carry the coffin, which was to be wheeled on a dolly because the ground was uneven - into a church that was 1000 years old.

Needless to say, they carried the coffin into the church without injury, much to the amazement of the on-looking pall-bearers who must not bear pall.

Xty's picture

Silver-spoon socialists and the media too

Well, why not tell people on the weekend after the election that the man they elected is a hypocrite and a fraud?  Would have seemed mean-spirited to bring it up before.  

But I am sure he is a friend of the common man.

Xty's picture

Steyn on China

The New Snake Oil

It’s the cure for what ails you – “powdered fetus”:

....

But no doubt Thomas “Why can’t we be more like China?” Friedman will see this as further evidence of the innovative thinking you get from the People’s Republic. In the print edition of NR the other day, I reviewed Robert Kagan’s book The World America Made. One of the saddest passages is when he acknowledges that Beijing is on course to become the world’s leading economic power (perhaps as early as 2016, according to the IMF) but that, with a little bit of political liberalization, this will be no different from the Anglo-American transfer of global leadership:

Just as the British could safely cede power to a rising United States, so Americans could have an easier time ceding some power and influence across the Pacific to a rising democratic China.

Sure. Have some powdered fetus with that Kool-Aid.

http://www.nationalreview.com/corner/299291/new-snake-oil-mark-steyn

ClinkinKY's picture

@ Xty--Mark Steyn

The finest pundit/author working today (if you're conservative:). He gets his point across with a sense of humor to boot.

Apache's picture

Outstanding.

Outstanding.

Maximillion's picture

A $2 Billion Distraction

Interesting podcast, and Dimons' $2 Billion loss admission is most likely underestimated/ understated. What it does apparently establish though is that JPM is not invincible!

This admission, that a JPM employee got it wrong , combined with BMs' TV appearances re denial of naked shorting by JPM (where she claimed it was on behalf of clients), and the substantial decline of Commercial shorts in the COT reports, all of which has happened in the last 6 weeks, all seem to indicate some things are not going to plan for TPTB.

It's also important to remember that somebody bought the 'fat finger' JPM $1.2Billion 7500 contracts sell mistake on 04/30/12, maybe JPM bought them back, maybe as per Willies' stance, an Eastern buyer got them and intends to take delivery in June (assuming the buyer stands for delivery).

The glaring anomally with all of the above, is what can JPM gain from being so apparently open at this point, and what beneficial purpose for them (and TPTB) will be created in doing the above?

Distraction, discouragement, doubt, smoke and mirrors have always been their weapons of choice historically, so why on earth would they change their innate nature at this point in time (a leopard cannot change its spots)?

QUOTE; "It is just a coincidence"!

The Pentagon is this week leading the largest multinational military exercises in the history of Jordan, with maneuvers planned along the Syrian border as well as in the Gulf of Aqaba, across from Israel

Maj. Robert Bockholt, public affairs officer at US Special Operations Command Central (SOCCENT), said "Execution of Eager Lion 2012 is not connected to any real-world event. It has nothing to do with Syria. It is just a coincidence". http://www.ww4report.com/node/11073

On May 10, just as the exercises were announced, Syria suffered its worst terrorist attack since the start of the uprising over a year ago, as 55 people were killed and nearly 400 injured in twin car bomb blasts near a government intelligence building in Damascus. Syrian officials and media blamed foreign-backed terrorist groups for the attack, saying it was carried out "in the service of the interests of Israel and its allies in the region."

Now what was that bit again about Countries (eg Turkey/India etc) needing to hold their reserves of Gold abroad in times of war?

Xty's picture

Just a coincidence!

They really should be able to do better than that.

Other things that are a coincidence:

Charlie, Bill and Warren being the top 3 videos at CNBC on the same day;

Charlie, Bill and Warren having the same silly smug-ass nonsense opinion about how only fools would even think about owning gold;

Blythe Masters appearing on TV shortly before Dimon's announcement;

The Fed never failing a sitting president;

certain posters only posting on down days;

someone suggesting Turd might actually be a Troll (okay, that was just stupidity, but I like to bring it up);

Barack Obama stressing his black heritage not his white one (sorry, replace black with green and white with red, or the other way round if offended);

Gold tracking the monetary base;

The BIS using gold as the ultimate currency;

Saddam Hussein liking to poop on a golden toilet;

Predator drones on the Canadian border and the War on Drugs;

Jason Spezza's wife being insanely cute;

Pigeons near my bird feeder;

and Hollande owning three holiday homes on the Riveira.

Big L's picture

Question on Jim Willie's scenario ?

I can't reconcile why the cartel would be forcing metals prices lower with manipulation, if they're having to liquidate their metals to cover margin calls. Wouldn't they want to do that at the highest possible price? To reduce their losses?

Are they caught in a double bind? Serving two masters?

What am I missing here? I've been puzzling over this since yesterday and can't come up with a good answer. To me, this flaw in Jim's argument calls at least part of his scenario into question.

I scanned the comments and didn't see this question in earlier posts.

ClinkinKY's picture

@ Xty and boatman re "stacking for kids"...

...can we just agree that stacking for kids who are already responsible, productive members of society  and simply "get it" are worthy of having an additional "buffer" against the SHTF ?

As for the kids who are living in their parents basements (not the ones who are there because of the crappy economy, but the ones who are too lazy to do anything to better their lot in life) then yeah, write them out of the will:)

El Gordo's picture

Stack inverst to price

My stack works like the interest rate/value ratio on T-Bonds.  As rates go up, the value goes down - simple.  Well, I've noticed here lately that as prices come down, my stack is going up, so maybe there is some correlation.  Perhaps at some point in the future (if I can keep from losing it to the neighbors PM eating dog) we will get to test the opposite side of that theory, but I suspect that the price will only affect the rate of growth of the stack and not the overall size of the stack itself.

I Run Bartertown's picture

Raising up an (opposing) army

So, I'm watching MSNBC. 3 women, each with more testosterone than the femme hostboy,

and they say Romney's out of touch (no shit - but that's another story) because he tries to appeal to the traditional families. They point out that over half of women under 30 give birth out of wedlock, and that increasing numbers of families are headed by gays. She added a vague "or other arrangements" - don't know what that might be or what's next, but it made my skin crawl the way she said it.

She was smart enough to realize:

*Upper and upper-middle class families DO believe in marriage and family and are more financially secure but was not smart enough to put the puzzle pieces together. She seemed to think it was another plot to trick her into wearing a dress. Or the usual, 'they have it, so they must've taken it from me'.

She also lamented that "perpetuating this notion" of family as a mother and father is "very harmful" to real American families today. Get that? Tolerance is never enough. Never will be. The only way to be sure that the kids who have less (no dad) or different (several dads/tranny mom/lesbian dad, etc.), is to be sure that no one ever even promote the arrangement that served humanity for untold generations.  

So, we're not to set any standard for society. We're not to advise or guide people to a path (that she acknowledges does better in this world). She would NEVER want us to have any fatherly influence on her children. No shaping, no molding, no expectations. Never. Because we're bad. We should just pay for her to pop out a bunch of genderless dependents that hate us and our families. We should be 'daddy to her kids' with only money and supply the funds to drive that 'out of wedlock' number to the skies. Why are we such a weak culture? Why do we entertain this nonsense?

GoldMania3000's picture

Paul Vanden

http://www.voiceamerica.com/episode/61600/are-we-entering-a-cyclical-bea...

36 mins into paul vaneden. he thinks the value of gold is 900$. i'd be curious what others think of his assessement.  

Big L's picture

Great Kids

Went to my Nephew's high school graduation yesterday. What a bunch of wonderful kids.

He graduated from a small private faith based school, only 80 kids in the graduating class. This school is sending kids to Harvard, Duke and other ivy schools along with smaller and in-state schools. 98% of them qualified for Florida's "Bright Futures" program.

The valedictorian and salutatorian gave heart felt speeches that were personal, humorous and touching.

Watching those kids yesterday gave me hope, I looked at them and believed they could eventually pull us out of the mess that we've created and left for them. If anybody can do it, they will.

I was also the beneficiary of a private school education, and although I didn't appreciate it at the time, I can tell you from my current perspective, that's one of, (if not THE) greatest gift you can give to any child, a good emotional foundation and a quality education.

For those of you out there with young kids, the ultimate benefit of stacking IMHO would be to provide an education which creates a lifetime of advantages.

I wasn't lucky enough to have kids of my own, so I can only speak from my personal experience. The ability to think clearly, act with confidence, and believe in yourself are unmatched assets. I saw those assets in this graduating class.

Be Prepared's picture

Mother's Day

Be Prepared's picture

Thanking Mom...

Be Prepared's picture

OBummer changes his wings to make Millions in Hollywierd..

Be Prepared's picture

If Only Jamie and JPM would commit Seppuku... maybe they did..

Eric King's picture

Resolve by October

Still on track for a breakout by October.

ClinkinKY's picture

The captions may be fabricated...not sure:)

obama-bin-laden
GoldMania3000's picture

Remember this one...

Pining 4 the Fjords's picture

MOPE- They have to eat their own

The Associate Press can always be counted on to give its readers "all the news that's fit to... advance TPTB's narrative".  They are the PRAVDA of national print news sources, writing what they are told, and spinning facts furiously and shamelessly until the story reaches 'approved' status.  So I found this article in my local paper this morning to be very interesting:  (This is an online version, in my paper this was titled "2 Billion $ Black Eye for Wall Street Whiz Dimon")

http://www.startribune.com/nation/151238825.html

This is what is being fed to the public, and I think it is worth thinking about:

1.  Why do they go to such lengths to pin this on Jamie...  there is no "fat-fingered trader" narrative advanced here, despite the fact that Dimon himself tried very hard to put that story into play. 

2.  The context of the story AP wants to put out there is basically an argument for more regulation of banks...   Dimon is introduced to the reader through a 'Hero narrative' describing how smart and skilled he is, rising through the ranks of lesser companies due to his own merits and brilliance-  to advance the idea that "If someone as great as Dimon could do this, other lesser mortals will surely crash their banks along the same lines"...   so is THIS the forthcoming narrative that is being supported by this stuff?  Softening the public up for some impending implosions (and MF Global-style consumption) of lesser Wall Street entities, explaining that "They just need better regulation, even JPM got burned on this recently".   Anything other than "The whole system is in a slow-motion train wreck of our making".  Can't let people think that. 

Or 3. Goldman is starting to make its move.  Buh-bye JPM...      I know, I know... unlikely, but you have to admit you thought about it for a second.

I Run Bartertown's picture

Suicide of a Superpower

Two fresh targets, for those who would shoot the messenger.  I have deep disagreements with each of them, but it's an interesting discussion.

17:30 Secession of the Heart - Balkanization of America

24:30 -25:30 Bolsheviks 

Silver Alert's picture

questions

Turd,

Since you've embraced both theories perhaps you can help.  In order to understand and  accept something new (Willie's theory) it is often necessary to reconcile it with other information one has already internalized.  

1. Willie is saying treasury prices will be supported to help JPM.  Aren't rising bond prices associated with a risk-off mood and therefore falling gold & silver prices?  (We have not yet reached the paradigm shift where PM's become a risk-off asset.)

2. He indicates that Western powers are getting desperate about the falling prices of gold so  #1 above means they are going to sacrifice their gold to save JPM?  However, I thought the goal of all these market manipulations were to allow the Western banksters to vacuum up all the wealth (especially gold) before they finally they crashed the system. So no matter how big JPM might be on paper, it is not a hard asset and wouldn't it therefore be expendable?

3. Willie says the price of gold is being manipulated by (mostly) Eastern powers.  They knock the price down by 5-10 dollars and vacuum up all the gold available at that price.  Then rinse and repeat.  If so, wouldn't this be contrary to any talk of short squeezes, bullish COT's, etc and presage falling PM prices for a long time?

4. Most others view the price of gold/silver as being controlled by banks & HFT's.  A few days ago Ted Butler laid out how the Comex market is rigged in "The latest From Uncle Ted."  If it is Blythe & co controlling the prices then how can those Eastern powers also be doing so?  

balz's picture

COT shows the bottom is here

Some folks do not want to buy, because they fear they are trying to catch a falling knife.

Sorry guys, but the Cartel knows each and every trick and this is exactly what they want.

Anyone buying physical silver under 35$ will be greatly rewarded.

El Gordo's picture

Breaking news in automotive efficiency technology

<iframe width="640" height="360" src="http://www.youtube.com/embed/2fjcJp_Nwvk?feature=player_embedded" frameborder="0" allowfullscreen></iframe>

Bobbejaan's picture

Stacking for kids ...&... Mother's day

Quote:
stacking for kids
Submitted by boatman

that is a typical mother-centered response.......which i completely understand, believe me.

i have a neighborhood full of overindulged, spoiled children......allowance given for no help around the house......entitlements???.........cars while the dad rides a motorcycle.......

I am not their mother, but I happily admit I CAN be a "mother-f'r" when it comes to teaching my family's kids honourable and righteous morals & ethics. wink .... but the kids seem to respect (sometimes superficially grudgingly, I admit) my methods and modus operandi.

.

When I was a kid, my mum & dad taught me & my brothers a pretty good sense of personal responsibility & ethics ... even though one of my brothers made James Dean look like a "pansy wuss" and I was a pretty scummy kid.

.

IF we wanted a major purchase or gadget (which in those days amounted to something like a secondhand record player or TV for our bedroom) ... They WOULD lend us the money, BUT they would make us sign a "repayment agreement" for the full amount+interest which we had to pay back from our pocket-money ... and they wouldn't simply "deduct" the payment, they paid us "in full" and we then had to "hand back" the agreed amount so that we could see in Real Life what the practical effects of borrowing were on the "cash in our pocket", and our "non-payment" excuses were NEVER accepted.

At the time (as a moronic & ignorant kid), I hated their guts for that ... UNTIL I grew up and realised the value of the lifelong gift they had taught me.

Ever since, I have done exactly the same with both my kids & my various nieces & nephews, etc ... and (with one exception) it has acheived similar results so far ... IF my son, nieces, nephews, or even an adult family member wants to borrow some money from me, I prepare & make them sign a Legally Binding Contract/Agreement for the Capital PLUS Reasonable Interest, AND I hold them to it. 

I can strongly recommend this as an excellent "practical teaching method" 

.

In a similar vein, my mum died 15 years ago, and a fair while before she died, told us of her plans for her estate, which was originally to leave everything in equal shares to my brothers & I.

My brothers & I discussed it and unanimously agreed that we were all "big enough & ugly enough" to take care of ourselves, and we proposed to our mum that she leave her entire estate (apart from a few valueless trinket-heirlooms) to all her Grandkids in equal shares, and she liked the idea & agreed.

So I wrote a bulletproof Will for her to keep "Vulture" family members, governments, banks, & shyster lawyers away from vulture-stripping her assets, and made my brothers & I joint-equal executors for the sole benefit of my mum's grandkids (= OUR kids). 

TIP :- IF writing-yourself or instructing a 3rd party to write a will for someone... Try your damnedest to AVOID allowing any legal or bank professional to make themselves an Executor or Trustee as they almost certainly WILL have a "Personal Profit Centered Motive" to themselves for doing so ... and ALWAYS try to create "more than ONE" & an ODD-NUMBER (3, 5, etc) of Executors/Trustees as this helps (A) prevent a single-Executor/Trustee from becoming a "Dictatorial Estate Tyrant", and (B) Forces a "Deciding Vote" in the event of any "Split Decision/Proposal".

Also, knowing (at that time) the statistical odds that my mum was likely to die in the "not too distant future" due to her poor health & having had a lung removed in her youth due to TB , I arranged for "the Corporate Vampires" to contribute to her assets by way of us taking out (at OUR expense & with my mum's blessing) a couple of those "no health questions asked" death-insurances at the MAXIMUM amount possible to cover the balance of her outstanding mortgage, and at the time of her death some three years later, the Corporate Vampires had to pay out nearly six times what we had paid to them in monthly subscriptions, which nicely paid off the mortgage in full & left more for the Grandkids ... My mum would have greatly enjoyed the irony & justice of that. yes  

... TIP :- I wouldn't NORMALLY recommend this type of insurance for generally healthy people as the Vampires rely upon a "statistical scam" for profits, BUT this CAN be very effective for "estate asset improvement" in the less common circumstances where you know someone not-too-old is potentially likely to live at least another 2 or more years (the usual "Full Benefits" minimum-deadline), but probably less than (generally) 10 years (= 10 years being the buyer's "break even point" for many policies) ... Although it MAY sound "ghoulish" to some, it's a VERY practical & effective way to increase someone's assets for THEIR benefit, as in essence, the Corporate Vampires are betting that the insured-person will live AT LEAST another 10 years before any profit is made, whereas you are effectively betting your loved will profit if they (unfortunately) die beforehand.

.

To those of you whose Mum is still alive today ... I ENVY you, you lucky buggers!!  Make the MOST of these days while you still can, because they will NEVER last as long as one hopes. ... I miss my Auld Dear and would give almost anything to see & talk with her again, and there are times when I find it hard knowing that I never will.

.

Bobbejaan's picture

Xty said :-

Quote:
Xty said :-

I think you underestimate the power women have always held. It is the government and the banks that have turned women into tax-paying men.

A vertical power structure sounds dreadful. Men and women have always been equals, properly understood. Don't blame all this bullshit on strong-minded women. We certainly didn't invent the Fed.

Usually we are in accord - I am sorry you are surrounded by wimpy men, but it ain't the ladies fault. And I think helping your mum AND your kids is a fine concept.

Nicely said, and I strongly agree. ... Some women are Bitches, and some men are Bastards. C'est La Vie !!!

.

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