TFMR Podcast #23 - The Jim Willie Trifecta

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On Wednesday, I spoke again with the inimitable Golden Jackass, Jim Willie. 

First of all, I hope you've got some time to devote to listening as this baby clocks in at about 55 minutes. I tell you what, though, it's well worth your time. Think of it as two acts. In the opening act, Jim answers some of the Turdite questions that were submitted earlier this week. We tried to cover as many as we could but we only got to 5 or 6 of them. The questions were so good that it took a while to answer them but we tried our best to hit the most popular queries. In act two, Jim and I discuss current events and the developing "black hole" of the U.S. treasury market and U.S. government deficit funding.

Jim's on his game here so sit back, relax, maybe crack a cold one and enjoy. 


Comments

Big Buffalo's picture

4 weeks ago

This one time in band camp. . . we were talking about gold going down to $1400 . . .

hahahaha

and then this one time in band camp someone stuck a flute in my . . . .

babaganoush2307's picture

OMG!

I just looked at his haircut for the first time, that is a horrendous due...looks like he wants to molest me..... 

babaganoush2307's picture

0_0

I got some candy in my un-marked white minivan....

Hard Rain's picture

APMEX Press Release

Here is an excerpt of a Press Release that APMEX just put out:

APMEX Physical – 1 oz. Gold Redeemable Trust Files Registration Statement and Preliminary Prospectus

OKLAHOMA CITY, OK. – May 22, 2012 – APMEX Precious Metals Management Services, Inc. today announced that APMEX Physical – 1 oz. Gold Redeemable Trust (the “Trust”) has filed a registration statement in the United States and a preliminary prospectus in Canada. The Trust will be managed by APMEX Precious Metals Management Services, Inc., a wholly owned subsidiary of APMEX, Inc. The Trust expects to invest in and hold substantially all of its assets in 1 oz. American Gold Eagle bullion coins and 1 oz. Canadian Gold Maple Leaf bullion coins.

The APMEX Physical – 1 oz. Gold Redeemable Trust intends to provide investors with access to the gold market while providing the liquidity of an exchange-traded security. A feature of the Trust is the option for the owner to redeem a minimum interest in the Trust of US$10,000 for a proportionate share of the gold coin assets of the Trust.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. A preliminary prospectus has been filed with the securities regulatory authorities in each of the provinces of Canada. The preliminary prospectus is still subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective in the United States for sales in the United States, or a receipt has been issued for the final prospectus in Canada for sales in Canada.

Stifel, Nicolaus & Company, Incorporated is acting as Global Coordinator and U.S. Bookrunning Manager; Oppenheimer & Co. Inc. is acting as Co-Bookrunning Manager; and Lazard Capital Markets LLC is acting as Co-Lead Manager for this offering in the United States. A syndicate of Canadian dealers led by BMO Capital Markets and Stifel Nicolaus Canada Inc., and including Scotiabank, Desjardins Securities Inc., Dundee Securities Ltd., Macquarie Private Wealth Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated, will act as the underwriters in Canada.

Rain

GoldMania3000's picture

Love the Willie

Love the Willie

I Run Bartertown's picture

Commemoration, and Cautionary Tale

No matter your feelings on his particular issues, I think we’d all do well to contemplate how we ended up under a political establishment that can ruin and drive out a man for the very same things that make him the most admired and respected person:

“Saturday, June 16th is the 100th birthday of Enoch Powell, the British statesman … Enoch Powell was born in Birmingham, the only child of Albert Enoch Powell, a school teacher, and his wife Ellen…Enoch Powell was an exceptional student…knew a total of 12 languages… went on to study classics at Trinity College, Cambridge. In his first year, he won all the classics prizes available to undergraduates, a unique achievement. … In 1937, at the age of 25, he became full professor of Greek at Sydney University.

When Britain started the Second World War, Powell resigned his professorship and returned to serve his country. …. At the beginning of the war, Powell was the youngest professor in the Commonwealth. At war’s end, he was the youngest brigadier in the military.

Powell’s “Rivers of Blood” speech simultaneously destroyed  his career within the Conservative Party and made him Britain’s most admired politician. In a February 1969 Gallup poll, Powell was named the “most admired person” in British public opinion. A Daily Express poll in 1972 named Powell the most popular politician in the country.

He never retreated from or apologized for his views about race and immigration.”

June 16, 1912–February 8, 1998

 
 
 
historiography's picture

Goldman Sachs in Greece

This post from Jim Sinclair's site of Max Keiser in Greece is worth a watch.  Upsetting as it shows the shafting of the people by Goldman Sachs and the EU Troika.  Defaulting on the wall street loans is the solution.  Fk'em.

http://www.jsmineset.com/

Slick's picture

Ted Butler: A Few Questions; One Answer

"I’m disclosing for the first time that the U.S. government has given JPMorgan the green light to manipulate the silver market.."

http://www.silverseek.com/commentary/few-questions-one-answer

Haole Guy's picture

You beat me to it...

I just finished reading this one and was about to post this, but you beat me to it.

Turd Ferguson's picture

PLEASE NOTE

MODERATOR

I should have corrected Jim on this but, in my haste/distraction, I failed to.

Jim said the "London Trader" told of "500 tonnes of physical being delivered". I went back and checked and that's not what he/she said. The Trader pointed out that "515 tonnes of paper metal had been sold in 4 hours during the latest selloff".

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/6/8_London_Trader_-_Staggering_515_Tons_of_Gold_Sold_in_4_Hours.html

Just wanted to clarify for the sake of accuracy.

babaganoush2307's picture

Would you say the private sector isn't doing fine?

Funny-obama-12.jpg

cpnscarlet's picture

Ted Butler - One REAL Answer

Keep Stackin Ag

top_shot's picture

Podcast these on iTunes

Hey Turd,

Possible to get these put as podcasts on the iTunes store? That would be awesome!

Thanks

Magpie's picture

Obama declares amnesty

http://www.rogerhedgecock.com/story/18797567/obama-goes-for-amnesty

The Obama administration will stop deporting and begin granting work permits to younger illegal immigrants who came to the U.S. as children and have since led law-abiding lives. The election-year initiative addresses a top priority of an influential Latino electorate that has been vocal in its opposition to administration deportation policies.

The policy change, described to The Associated Press by two senior administration officials, will affect as many as 800,000 immigrants who have lived in fear of deportation. It also bypasses Congress and partially achieves the goals of the so-called DREAM Act, a long-sought but never enacted plan to establish a path toward citizenship for young people who came to the United States illegally but who have attended college or served in the military.

(The photo is taken in front of the cafeteria at Punahou...the high school Obama attended in the 70's.  He called himself "King Obama" back then.)  Sure looks like he's trying really hard to live up to his childhood dreams.

CrazyCooter's picture

Private banks leaving the fed ...

Has anyone seen any writing on this at all? It got very little mention in the interview above, but struck me as a serious possibility. Who gets the bad assets? Can the private banks walk with good assets, etc, and leave a husk for the treasury? Is the fed an entity that can be used to offload crap to, like they did when bear/lehman went under?

So many more questions than answers ...

Regards,

Cooter

The Green Manalishi's picture

Simple Math Says Europe Is Bankrupt

Quite like this guy, he has written some good articles, and I have his book Ponzi Planet which is excellent. Throughout his book he backs everything up with officially published and accessible data.

Simple Math Says Europe Is Bankrupt

by Mitch Feierstein

There’s a lot of talk about Europe at the moment, but it’s kind of the way you talk about flooding when the waters don’t reach your house. Sure, it must be real tough for the poor saps whose couches are bobbing around in their living rooms — but meantime, what’s for dinner?

http://planetponzi.com/blog/simple-math-says-europe-is-bankrupt

Watcher's picture

@IRB

"It could be part of a 'great leveling' as they move us to One World Government. Or it could be that the real powers see themselves as their own side and grab the reins of nations on both sides of the divide."

Sure men like Henry Ford pumped money into the Bolsheviks revolution and Hitler as well. But that's what Capitalists do, they try to win nations with the power of money. They continued to do that during Glasnost and Perestroika as Russia duped the West into thinking and believing they were finally a democratic nation. That is the Capitalist way but the Communists USED the capitalist money to support their agenda....and continue to do so.

The only unity I see in an attempt to make one world is of the supernatural kind. Evil men will never accomplish it on their own. 

The Green Manalishi's picture

RE: Obama declares amnesty Submitted by Magpie

They left the Fu off the beginning.

Magpie's picture

First we find out our "votes" will be counted in Spain,

and now there's this:

http://www.scantovote.org/

Add to that the fact that Holder is suing a sh*tload of states for trying to clean up their voter rolls and it looks like the perfect set-up for a re-coronation this fall. 

babaganoush2307's picture

A silver coin is a silver bullet to the JPMonster

"Crash JP Morgan. Buy Silver. We can in fact crash JP Morgan. JP Morgan is one of the biggest financial terrorists in America today, probably even bigger than Goldman Sachs. If the American people can take this on and put that company under, take that stock price down to zero… that would be a major victory!" - Max Keiser

Steinbacken's picture

Very Good Comments, thank you.

The podcast, Turd, many of the posts - these comments are really excellent.  I think we are pretty close to understanding world macroeconomics in this particular tome.  I wish I could add to it, but all I can do is offer hat tips.  

Turd Ferguson's picture

Just be patient.

MODERATOR

Just be patient.

muscrat's picture

@Wallace Hartley, 10 year yield "spike" --

It's just bad data on the graph.

maravich44's picture

.@Indigo Haze..Hat Tips=Appreciation/Encouragement..

...couldn't agree more on this, when a lurker comes out with a first post, even a minor gesture(Hat Tip) hopefully will bring them back. I get a little slack sometimes but always try to spend some time catching up, might seem like a small measure but I gotta believe this helps the community vibe. Another example is your Daily News Ticker, some might find it irritating but for me it allows a constant flow of current events without having to leave the site,(XTY, Murphy, and many others) are to be Thanked also. Looking back over the Daily News Ticker I noticed that many of your post's were 0 tipped, yet you carry on, maybe one of the many things that we take for granted, for anybody that is on the fence, I assure you that it is painless. Best to all...

Wizard's picture

Whatever Happen! To COMMON SENSE

Wizard's picture

Sorry Double Post

Sorry Double Post

I Run Bartertown's picture

@Watcher

Ford supporting Bolsheviks?!? Are you even serious?

He had quite a bit to say about Bolsheviks and who funded them. It's one thing to be wrong, but that is wrong on an epic scale. Sorry, but it is.

His support of Hitler was in the 1920's as a bulwark against the existential threat Germany faced from the East and from within. He withdrew all support long before the US .gov stopped full, normal diplomatic relations. 

Ford is probably better termed an Industrialist. The Capitalist financiers are quite different. The 'funding both sides' thing is their bag, not Ford's.

recaptureamerica's picture

Actually he's a great excuse

Actually he's a great excuse for a regulator..that's why he and his colleagues ere hired and there.
Fox watching the henhouse or robbers watching the vaults.

babaganoush2307's picture

Anyone want to start posting these on JPM's banks?

images?q=tbn:ANd9GcSvwR6Fx3BtZ3fsdxxq_0w

Steinbacken's picture

Runup?

...So, are we going to get a nice boost at the end of NY trading today?  Maybe Ag $28.95, just below the great $29's of desperation?  Anyone?  PM valuations to rise?  Bueller?

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