A2A with John Butler of Amphora Capital

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Earlier today, we held our final A2A webinar of the year and we couldn't have had a better and more timely guest than John Butler, author of the great book, "The Golden Revolution".

In this tremendous, 45-minute presentation, John addresses a multitude of subjects, including:

  • The possibility of a gold-backed Russian government bond, which would provide stability for the rouble
  • What China might be planing to do with their gold reserves and the upcoming IMF meeting next autumn
  • The meaning of today's announcement by the SNB to begin charging negative interest to depositors
  • The growing list of gold repatriation requests from around the globe

Many other subjects are covered as well so please be sure to listen to the entire recording. When you're done, check out John's latest Amphora Report entitled "AS THE ‘SANCTIONS WAR’ HEATS UP, WILL PUTIN PLAY HIS ‘GOLD CARD’?"(http://www.atomcapital.co.uk/wp-content/files_mf/1416418354AR_1114.pdf). You should then join John's mailing list so that you're notified whenever he publishes something new.

Lastly, if you haven't yet read "The Golden Revolution", I strongly suggest you order it today by clicking the link below. It is as powerful and relevant today as it was when it was published in 2012. You won't be disappointed.



JY896's picture


Looking forward to this podcast.

Was just thinking, Putin's comments about bracing for ca. 2 years of economic hardship for Russians would indicate the .gov in Moscow is not IMMINENTLY planning to upend the global monetary system.

Then again, he also said improvement in the next 3-6 months is possible. And we should never forget .gov's proclivity for misinformation.

In the end, they act and announce afterwards (if at all). Very curious to see how things develop.

Pseudozero's picture


his book really set me off back before the vault days...i can't wait!!!

Turd Ferguson's picture

here you go


I'd say this is pretty important:


heathbr's picture

Them Miners!

Strong performance today! GDX and GDXJ

SlobberingBull's picture


Obummer removed sanctions from Cuba because they never worked. 
Obummer is now sanctioning Russia because they will work.

That's just brilliant.

J Siefert's picture

London firms departing from gold trading

Great YouTube from Jay Taylor...

David Jensen discusses several topics:

In the second issue (starting at 5:20) he explains that three companies are departing from gold trading at the LBMA possibly because of fear of criminal prosecution. They are the precious metals trading company Gunvor Group Ltd., the gold refining division of Johnson Matthey PLC and the physical metals trading section of Deutsche Bank. He reckons they are presumably fearful of involvement in the sale of assets with potentially multiple claims. If a firm has participated in the chain of custody and disposition of these assets there is a risk of being implicated in fraud or of lawsuits involving losses suffered by their customers. The big picture is that it's all coming undone.

PS: Is this also one reason why most gold going to China was first refined and recast in Switzerland so that the chain is broken???

s1lverbullet's picture

Watching the Orgy in the Equity Markets

I want to laugh and cry at the same time.  What a giant circle jerk this all is. 

So let me get this straight....

NIRP = sell gold, buy stocks

Proxy war = sell gold, buy stocks

1 trillion dollar budget deficit = sell gold, buy stocks

ECBQE = sell gold, buy stocks

Japanese QE = sell gold, buy stocks

Rising dollar = sell gold, buy stocks

Plummeting dollar = sell gold, buy stocks

Huskers fire Bo Pelini = sell gold, buy stocks

New Kardashian show = sell gold, buy stocks

Cubs win the pennant = sell gold, buy stocks

Royals make the World Series = sell gold, buy stocks

New Hobbit Movie = sell gold, buy stocks

China and India devour entire yearly supply of mined gold = sell gold, buy stocks.

GOT IT.  Anyone got a beer and a bottle of Prozac I can borrow??

Clarki Stomias's picture

Ironic or purposeful?

I just was on MarketWatch and saw this beauty taking up the entire right side of the screen:


An ad for T. Rowe's investment service.  Invest with Confidence!  The little bug (you) can make it over the bend of opportunity to the top of the grass blade (your financial dreams)!

Step back a sec and look at that image again.  Notice the "graph overlay"?  Pray tell, which way is the "graph" of the blade of grass going?  A swan dive to zero!  Intentional?

Someone has a sick sense of humor.  Sell hope in the words, broadcast what is actually gonna happen with the image itself.  I especially love how the "2015 outlook/view our insights" is pointing towards the bottom right of the trend.  If it's an accident it's hysterical and if it's intentional it's genius.

They consider it rude not to warn the observant ahead of time, right?...

surfeitndearth's picture

re-post: Paul Craig Roberts article

DECEMBER 18, 2014

Financial Market Manipulation Is the New Trend: Can It Continue?

Rigging the Market


A dangerous new trend is the successful manipulation of the financial markets by the Federal Reserve, other central banks, private banks, and the US Treasury. The Federal Reserve reduced real interest rates on US government debt obligations first to zero and then pushed real interest rates into negative territory.  Today the government charges you for the privilege of purchasing its bonds.

People pay to park their money in the Treasury debt obligations, because they do not trust the banks and they know that the government can print the money to pay off the bonds.  Today Treasury bond investors pay a fee in order to guarantee that they will receive the nominal face value of their investment in government bonds.

Think about this for a minute.  Allegedly the US is experiencing economic recovery.  Normally with rising economic activity interest rates rise as consumers and investors bid for credit.  But not in this “recovery.”

(contd)... http://www.counterpunch.org/2014/12/18/rigging-the-market/

SS121's picture

no fiat currency will become officially backed by gold

as the system is dying it will "talk"  about various "gold" solutions, but that's it.

at about 8:50 Turd asks the right question (which nobody can ever answer) when he basically asks  'ok then how exactly do they do it?'  (there was no answer)


from what i've read so far The Golden Revolution is another book about how gold might be used within the system to fix the system.   which like the others misses the reality of the situation which is that the system is what has currently displaced Silver and Gold from their monetary role.  

As Silver and Gold return to their monetary role in the hearts and minds of people the world over, the system of fake charts and paper gold is merely scrambling to associate itself with "gold" to maintain it's fading grip on the minds of the people.

It's over, the tipping points have been passed.  The silver chart is crippled and dying and it's terminal condition is as irreversible of any other exposed deception.

it's all unfolding in real time and right out in the open.  the charts are fake, the media stories are manufactured misinformation designed to legitimize the system, and it's all ending.

Only Silver and Gold are Money

indiana rod's picture


And he removed the sanctions from Iran so they could work

on developing a nuclear weapon.

AlienEyes's picture

Eyes on the Ball....

Be Advised :

Gold is now selling for the same as platinum.

Last :

Gold 1,197.90  

Platinum 1,198.00

Barfly's picture

What's so wonderful about

What's so wonderful about "the system" is that some people will never escape the programming. If you remember, some people at the end of "the Matrix" decided to stay.

-SilverIsMoney-'s picture


Between that and the Oil-Gold ratio getting so out of whack we can either conclude...

Oil and Platinum are absurdly undervalued right now...


I don't think I need to even say it.

While I hope it's option 1 more and more option 2 seems likely and while we all know it's BS it is what these "markets" say it is...

SS121's picture

you got that right amigo

That programming is big medicine

- - - - - 

Tyler Durden's picture on a long enough timeline the survival rate for everyone drops to zero

2179159-agent_smith.jpgAgent Smith: You hear that Mr. Anderson?... That is the sound of inevitability... It is the sound of your death

AlienEyes's picture


Or, Oil and Platinum are telling us that their future industrial use is shot to hell....as in any modern day great depression resulting from a stock market and bond market collapse.

Heads Up !!!  surprise


G  1,198.30

P  1,195.00

texmex66's picture

A Call to Anguish

God Bless

Nomad's picture


Great A2A Turd. Thank you.

-SilverIsMoney-'s picture

I thought that..

Butler's gold bond idea for Russia was brilliant. It prevents a run on their gold and with a high rate of interest very much encourages international investors to move in.

The issue is, as he eluded to, that people have to have the confidence that Russia will not default on their gold bond obligations and at this stage of the game I think that's unlikely with how hard the Western media pounds Russia for being so corrupt.

I do think however, as he also mentioned, the BRICS coming together and doing something similar would work. However, based on Putin's speech last night, that isn't happening any time soon... they are playing the waiting game and are not yet ready to do whatever it is they are going to do.

Clarki Stomias's picture

Flatline against 1200 again tonight

Would you look at the ridiculousness of that capping tonight? Aligning now with the previous nights on either side of the Globex session close. It's practically a hand drawn straight line. I mean honestly, what trades like that? You think maybe 1200 is currently significant at all?  Sheesh.  

As always Turd, excellent, excellent A2A today.  With all the pervasive gibberish and dishonesty that passes as MSM news, I don't know what I'd do without the probity of this place.

Jeremiah Jr's picture


Thanks, great post, I miss David Wilkerson.

Turd Ferguson's picture

Do you mean this?


What? What's so odd about this?? cheeky

Can't Happen Here's picture

Comic Relief

As long as Russia is being discussed:

Complete History Of The Soviet Union, Arranged To The Melody Of Tetris

-SilverIsMoney-'s picture

What a chart...

Paints the picture quite well...

And if you look at the Daily Chart you can see that it really started on Tuesday November 18th after we moved up $60 in 3 trading days...

We got slammed all the way down to $1182 on the 17th in response to the $40 surge from the Friday before (14th) and then on that Tuesday the 18th we had the audacity to surge $20 during the day and then close at $1196.

Ever since then every spike UP OR DOWN has IMMEDIATELY corrected back to the $1200 line. It's just absurd...

On the 28th of November we crashed to $1167, the Swiss vote fails and BOOM we fall all the way to $1142 only for the same day to end at $1206. Next day? (the 2nd) we close at $1196 again - right where we had been on the 18th...

On the 10th we get a crazy spike from $1200 to $1230 and wouldn't you know it over the next 3 days we get grinded down $30 bucks to close the 15th WHERE? $1199!

On Tuesday we again had the audacity to bust up to $1220 and then WAHLAH wouldn't you know it on the SAME DAY we get busted back down to WAIT FOR IT... $1199!

And here we are again with Turd's perfect $1200 line for the last 3 days...

The last month has just been fucking torture... I'm starting to think for my own sanity I need to only check the gold price once a month because while low prices are one thing it's this constant, amazing, amount of capping/control that is so discouraging and what makes it more disheartening is we are the only ones who notice. 

Any one of us who dares utter the M word outside of these threads runs the risk of being called a quack... I just don't know what we can do anymore. We've heard it all before and now all we're doing is waiting out this farce hoping and praying one day it will actually end and not because we MIGHT end up wealthy but because this is no way to run a market, country, or world... it's despicable.

Bama's picture


Thanks for the post.

goldcom's picture


I gotta say you have been in the middle of the conversation here at Turdville sometimes wrong but usually right in my book so don't question things, just go with the flow. Don't care why ZH offet you, doesn't matter you have your opinions and that's ok. So carry on...

mel's picture


From, the earlier thread....

Exergy, may I offer a couple of comments on your post..

'I had a rather interesting chat with my broker the other day and he genuinely feels that folks should pay the premium and stack coins rather than bars (I wouldn't mind a little group think on this). He feels that governments will implement windfall profits taxes on bullion and mining shares ...or at least restrict the trading and sales of bullion ...not to mention the fact that bar numbers are being assigned to purchasers. Coins are another matter since they are currency and are NOT NUMBERED...it will be more challenging to legislate taxes on currency itself.'

I understand you live in Canada as do I. Whenever you buy or sell gold or silver coins or bullion from any coin shops , banks, etc. there is a record kept by them of that transaction and available to Revenue Canada. If the metals go up big time, Rev Canada will very likely contact precious metals coin shops, etc for their records on all buy and sells during a period of time. If you sold product to them, makes no difference coins or bars, and you didn't declare it on your tax return, you will be subject to an audit. I know personally as I went through that many years ago. Was not very pleasant. And your annual tax returns could be subject to 'special attention' for up to 10 years afterwards...

I would imagine similar regulations apply in the US.

And as I'm sure you're aware, with shares, you're broker sends the transaction records to Rev Can which they match up with your declarations on your tax return..

Of course the governments can tax one type of product more onerously than another...They do it all the time! Who knows what they may do. They may confiscate everything relating to precious metals!!

The devil will do as he wants!!

-SilverIsMoney-'s picture

I dont care about getting banned..

I'm more distraught over the fact there is apparently no end in sight to this farce. All of us can sit here all day and give reasons X, Y, and Z as to why it will end and why we are right but at the end of the day I'm starting to struggle with the fact I cannot see how this all comes apart anymore in some type of overnight collapse which I do consider a big problem because that is exactly what this country needs to wake the hell up. The Russian currency crashed on Tuesday and the Dow is now up almost 500 points on the week! This is MADNESS the markets have become so disconnected from reality it's hard to know if reality will ever even catch back up...

It's now been more than 3 and a half years since the metals peaked and yet here we sit with silver under $16 and gold under $1200 and no matter how bad the physical supply picture looks the paper price stays together - it doesn't matter how bullish the argument is, it doesn't matter that all of the world's markets are obvious frauds, or that interest rates are now going NEGATIVE, or that country's are lining up for their gold, or that bonds are surging and yields are collapsing, or that one of world's largest economies just watched their currency collapse, or that crude has crashed 50% in 5 months, or that large commodity traders want no part in gold due to origin issues, or that GOFO is consistently negative, or that the US tax payer just got trillions of bad derivatives dumped on them, or that the US debt levels keep going up and up and up EVERY day, or that our entire Congress has been bought and paid for. NONE OF IT seems to matter...

Our country and society are crumbling before our eyes - which is exactly how they want it to collapse: piece by piece, bit by bit, and inch by inch - a completely controlled demolition that NO ONE is going to notice until they can't do a damn thing about it... At the rate we are going we are going to wake up in 20 years in a New World Order and wonder how in the hell it happened. Their plan, from where i'm sitting, appears to be that we crumble instead of collapse because that's how they will maintain control until they finally own all of us. 

They're winning. They've been winning for years and there's no end in sight... that's what makes me ANGUISH and worst of all is there does not appear to be a damn thing any of us can do about it but prepare for a collapse that may never happen.

We're being boiled like frogs and we're the only ones who notice and we have no escape from the Pot... it is enough to make someone go crazy and worst yet is not a single one of us could go back to sleep if we tried. We're stuck here now watching it all in slllooowww motion full well knowing what's going on...

goldcom's picture

SIM - I get it, I think we all here do

This shitstorm is is just that, a shitstorm, and there is no up or down, we just gotta get through it. Hangin 

Ned Braden's picture


You have expressed the collective angst of The Watchtower - perfectly.

The last 3 years have probably taken 5 years off my life.

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