A2A with Brent Johnson of Santaigo Capital

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Earlier this week, our friend Brent Johnson of Santaigo Capital stopped by for an informative and engaging webinar. As is the case nearly every week, you should definitely carve out some time to give this recording a thorough listen.

Over the course of this discussion, Brent and I cover a host of topics including:

  • what a hedge fund actually is
  • what factors drove Brent into the precious metals sector
  • the surging renewal of the bull markets in gold, silver and the miners
  • why China must one day devalue their currency and the havoc this will bring to global markets

To that final point, Brent mentioned a presentation that he recently published and encouraged every one to watch. You can find it here: http://play.pointacross.com/Player.aspx?gmid=qei4uwrautrp

Thanks again to Brent for a great A2A webinar. We hope to have him on again soon.



Dr Jerome's picture

First... really

First... really. Dang, now I gotta write something smart...

Ummm....    ...  uhhh... keep stacking!

Turd Ferguson's picture

Fresh audio

TF Metals fan's picture


At least give it a try!

Ferd Torgerson's picture

Looks Like I Placed Ferd

Not counting Turd's post.

Or, whatever.


amarula4's picture



Royal Flush's picture

yoy guys crack me up!


Chiron's picture


ORD being painted?  Will it even matter?  I guess we will find out tomorrow.

luvabean's picture

EIGHTH !!!!?

...by today's standards i still get a trophy, a medal and acknowledgement that i'm a special snowflake! <3
Turdites unite!
i'm going to to set up a forum...sometime soon,
just poppin' in between projects to drum up alittle love <3

Turd Ferguson's picture

I guess last week's BLSBS was really strong after all...


What a scam these paper markets are.

Turd Ferguson's picture

More overt raids pending?


Was this the standard Cartel warning shot? Note the highest 5-minute volume since 10:00 am this morning...and coming at 4:00 pm when no one is around, on no news, when volume is usually paltry.

Turd Ferguson's picture

And repeating


The "price" of "gold" rallies $14 this morning following the news of the big jump in US unemployment claims. It's now down $20 since. Yep, that makes sense.

Turd Ferguson's picture

AHA! I found some "news"


Mother must be giving a speech this evening. These blurbs from ZH:

AGAU's picture

miners doing great today

My miners up almost 2% again today even though AG AU get slapped? 

As I have mentioned before I wonder if they let the miners run a bit and its  taking some retail money out of  the PMs chase?

I know I had dry powder that I chose to put into my mining portfolio rather than more phys ???

canary's picture

GLD (sham) gained 3.27 tonnes of gold today

SLD (sham) ...no change.

canary's picture

Two things to watch tomorrow

1. Retail Sales.   Prior -0.3%.    Consensus +0.9%.

2. Ever present market rigging, more intense on Fridays.

                                                 Going to school.

Maryann's picture


Congrats on LT's graduation.  Doesn't time go by in the blink of an eye?  I'm sure she will have a wonderful time at college and you have given her an excellent foundation to get her through the minefield. wink

My son just finished his freshman year.  He did so well; made the Dean's List.  He was in a little bit of culture shock coming from a small private school, but he transitioned easily and hasn't lost his principles!  smiley  Only thing that makes me sad is he says he doesn't feel completely free to express his opinions, but of course in this current reality that's not a surprise.  I pray our kids are able to navigate well this time of life.  Some profs have been excellent, some rather lacking.  Oh to have Dr Jerome for rhetoric!  Hook, how lucky your daughter may be!

One interesting tidbit is that the school he attended made the kids give lot of of presentations, beginning in elementary school, so he is very comfortable with public speaking.  He consistently gets praise from his profs for his speaking ability, and says most of the other students haven't had much practice at it.  

Thank you for this interesting A2A!

NW VIEW's picture

Being Prepared?

  The wife and I just drove down I-5 to our mini-farm.  We were talking about the "old days and old ways".  I said if there is an attack on our electrical grid, the people will be looking for things that are NOT in their bugout bag.  For most, their water will not work even if they have a well. The city will not be able to fill their water towers.  The toilets will not flush without water and we have a step system, needing power to pump the liquid into the public sewer system.  The lights will not work nor our stove and ovens. 

So,(I told her),  we could get ahead of the curve.  We will build 10,000 out houses first:


Have them ready as there will be a run on the potties (even Craig will need one) or it will be a dash to a tree in the back yard.  Pellet stoves (most) need electricity and few have a wood stove that they can cook on.  We will also stockpile 10,000 of them for immediate use.  Those lamps will be handy but cannot be fired up with whale oil any more so we will stockpile thousands of gallons of fuel. 

Well those are the basics and my wife's comments were more along the line of one of those "looks" like I have gotten over the last 50 years and I was ready to corner the market!                                       Jim 

matt_'s picture

Hungry Venezuelans Hunt Dogs, Cats, Pigeons as Food Runs Out

Coming to the USA?  The result of hyperinflation and price controls.


matt_'s picture

Summer blockbuster? I want to see "Clinton Cash".

I just found out about the documentary "Clinton Cash", based on this book that came out May 5:


I haven't read the book, but the gist of the story is that Hillary Clinton was bribed as secretary of state through foreign government donations to the Clinton Foundation and direct payments to Bill Clinton for speeches.  Here is the movie trailer:

And here is Judge Napolitano commenting on the allegations in the book:

Gramp's picture

Excellent Guest TF!

This guy talks nuts , bolts and numbers, and in a clear and common sense way.

    When Brent mentions a flight to the dollar , I agree. 

It's like the most  popular bully on the playground,  (with a pocket full of nukes).

  The other heavyweights  lurking in the backdrop are Russia and China. Both seem to understand a fight for top spot would mean everyone loses.  Even if they could win, the bulldog dollar sentinels would inflict such damage on the way out, it would be far  to costly for all. 

Like a child throwing a tantrum and ruining the party so no one gets cake and everyone has to go home... except way more serious. 

Pitchfork's picture

Retail Sales

I have been in the action sports/surf retail market for 30 years as an independent retailer. I receive a monthly sales survey for our industry which polls the entire United States. March and April sales have fallen the most in over 11 years. 66% of retailers are showing declining sales month over month. The manufacturers are also suffering as Pacific Sunwear, Sports Authority and Sports Chalet have all filed for bankruptcy. This may cause a deflationary cycle as consumers cut back on spending forcing off price into the channels. It becomes a snowball effect when traditional Off Price retailers no longer are interested in purchasing discounted product as their inventory swells. Its like a race to devalue currencies only its inventory. Once the Fed pulls there head out of their ass, it will be to late and they will be forced to print to spur consumer demand. Does Gold and Silver smell this? I believe it does and tomorrows retail # (if reported truthfully) could be awful. I'm out!

Pining 4 the Fjords's picture

Really excellent guest TF

Brent really knows his stuff, and has thought through how this will play out in a sophisticated way,... impressive! I rarely listen twice to a podcast, but Brent's command of the relationships of various currency dval regimes vs the dollar, plus China and their debt, and how this will realistically play out is worth a second listen. Best I've heard.

canary's picture

@Retail Sales.....Good read...Thanks

But the expectations a quite high (+0.9%)....Last month (-0.3%).

I look at today's trading as a cartel's preparation for tomorrow's Retail Sales print. For gold, that number better be a disappointment.

imfd's picture

Excellent guest indeed !

Have him on once a month, great stuff ! I do enjoy the clear explanations of things that might be taken for granted by other, more sophisticated, Turdites. Being simpler myself, explaining what a hedge fund is along with other things, is of immense value, many thanks !.

Mickey's picture

Macy's Nordstrom

Costco, Wmt-

tell me, what retailers are prospering?

rxman's picture


ORD only means anything when it is to the downside. F n a holes Rxman

AlienEyes's picture

The Markets

What a muckin' fess !  sad

rxman's picture


You got lotsa energy. New career. Event planner?? Rxman

silver10sguy's picture

What Does One Trillion Look Like in $100 bills

Thanks Turd for the great A2A with Brent Johnson.  During the A2A there was a brief discussion of a "trillion" dollars.  I had saved this You Tube video of less than 2 minutes to show in $100 bills the difference between 10 thousand, one million, one billion, and one trillion dollars.  It is definitely an eye opener!

SS121's picture


"...it doesn't mean that everybody that works on wall st. is a bad guy, it just means that the system itself is bad..."


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