Holiday Weekend Jackass

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It's a sort of tradition around here that whenever we have a three-day market holiday weekend, we try to check in with Jim Willie. And this time, we used our A2A webinar format so that subscribers of TFMR were able to ask their own questions in real time. It was great fun and I think you'll find it all quite thought-provoking.

What topics did we discuss over this 97-minute call? Maybe a better question is...what topics did we not discuss? In this podcast you'll here Jim pontificate on Trump, Syria, North Korea, gold, China, gold trade notes, silver, the mining shares, the Fed, debt jubilee, interest rates, the dollar, platinum and even his thoughts on Journey entering the Rock-and-Roll Hall of Fame.

So sit back, relax and enjoy. And have a great holiday weekend, too.

TF


267 Comments

CaptK's picture

Death Spiral for the LBMA Gold and Silver auctions?

'The trading glitch with the LBMA Silver Price on Monday 10 April seems to have been completely missed by London’s financial media except for the brief reference by Reuters. The fact that there is no information on the CME, Thomson Reuters and LBMA websites about the issue should raise concern for users of this benchmark and for the UK’s regulator, the FCA. In an ideal world, there should be a full ‘outage’ report published on each of the 3 websites explaining what happened, but this will not happen in the shadowy and secretive London Silver Market.

Perhaps the auction price divergence in the LBMA Silver Price stems from a lack of liquidity brought on by the limited presence of auction participants, or due to the inability or unwillingness of participants to hedge or arbitrage their auction trades against the London OTC spot or other trading venues? The simple thing to do would be for CME, Thomson Reuters and the LBMA to explain themselves since this would minimize guesswork and to provide global silver market entities with clarity. Anything short of a full explanation by the parties concerned is irresponsible.

For the LBMA Gold Price auction, ICE Benchmark Administration needs to release a full ‘outage’ report and explanation on what exactly happened in the afternoon auction on 11 April and explain to the global gold market whether the introduction of central clearing was in any way responsible for the price divergence, and whether there are any conflicts of interest in trying to get banks to use its daily gold futures contracts. While they are at it, ICE should fully explain how the recent introduction of a pricing algorithm impacts the gold auction and whether this too had an impact on the auction price entering a downward spiral.

As the LBMA Silver Price and LBMA Gold Price are both Regulated Benchmarks, the FCA regulator needs to step up to the plate and for once show that it is on the side of the users of these benchmarks and not the powerful London banks.

Both of these auctions require full transparency and ease of direct participation by the full spectrum of the world’s gold and silver trading entities. Currently, they fall far short of these goals."

https://www.bullionstar.com/blogs/ronan-manly/death-spiral-lbma-gold-silver-auctions/

Orange's picture

Limit up

RETSPY's picture

SIlver Belle

You wonder how  many Americans could even name that tune.

Isn't the score also used in an old Southern spiritual   - Old B____ Joe?

If so, there might be a few.

R.P. James's picture

orange... limit up

Hi Orange,

Conversely, if world peace breaks out by Sunday night, we should have a  limit down day ( in metals) since the war premium would be gone and banks would be back manipulating the prices...

billhilly's picture

Very good interview...

Lance Roberts and Erik Townsend

https://www.macrovoices.com/

canary's picture

Orange...thanks

That little bird needs a fluffy coat.

AvgAmerican's picture

SGDM and SGDJ

With all the baggage and angst swirling around GDX and GDXJ, it would seem that Sportt's EFTs might offer better options that are based on a superior stock selection filtering mechanism? Would be interest in the thoughts and knowledge of fellow stackers.

Sprott Gold Miners Exchange Traded Fund (NYSE: SGDM)
http://www.sprottetfs.com/overview/sgdm

Sprott Junior Gold Miners Exchange Traded Fund (NYSE: SGDJ)
http://www.sprottetfs.com/overview/sgdj

Ned Braden's picture

SGDM and SGDJ

Agreed.. !

canary's picture

China will take care of Lil' Kim

They've kept N. Korea on life support for decades...And China wants to dominate Asia...The only question I have is what level of Kim's submission will be acceptable to the Chinese politburo and Trump....Perhaps a safe haven status in Mogadishu?

Thor's picture

AvgAmerican

Agreed and wondered when someone was FINALLY going to mention those much smaller Sprott funds.

surfeitndearth's picture

@Matt_ Pinter and Pilger

"The breathtaking record of perfidy is so mutated in the public mind that it 'never happened … nothing ever happened. Even while it was happening it wasn't happening. It didn't matter. It was of no interest. It didn't matter...'". – Harold Pinter

Pinter expressed a mock admiration for what he called "a quite clinical manipulation of power worldwide while masquerading as a force for universal good. It's a brilliant, even witty, highly successful act of hypnosis." – John Pilger

"Americanism is an ideology that is unique because its main element is its denial that it is an ideology." – John Pilger​​​​​​​​​​​​​​

Markedtofuture's picture

UK & Germans Did Intercept Trump’s Phone Calls with Russia

After denying that British and other European intelligence agencies have intercepted communications between Donald Trump’s staff and Russian citizens and other Russian citizens during the campaign, the truth has come out that they did exactly that. The Guardian, which has also been extremely anti-Trump, reported: “Britain’s spy agencies played a crucial role in alerting their counterparts in Washington to contacts between members of Donald Trump’s campaign team and Russian intelligence operatives, the Guardian has been told.”

https://www.armstrongeconomics.com/international-news/australia-oceania/uk-germans-did-intercept-trumps-phone-calls-with-russia/

mgilbert's picture

GREAT WEEKLY END TIMES REPORT

I listen to this report every week.  It's a biblical perspective of world events / all bible based - great stuff!  This weeks report is a good one!

http://hischannel.com/WorldNewsBriefing/1050A3

Wish you all a blessed Easter weekend!

Turd Ferguson's picture

Mr Donut cuts again

MODERATOR
Marcrward's picture

Mr donut

Can't forecast a negative percentage growth... can he?

Orange's picture

Something to think about

DOOGIE's picture

Turd don't know if you will see this on Holiday weekend but ...

Have you ever thought of doing an A2A with Chuck Butler of the Daily Phennig (means daily penny). He writes a great ,short, free newsletter everyday, he is on our side (I believe he is a firm believer in manipulation/fraud in Silver markets. He seems very on top of things.He seems like he really knows foreign currency markets. He might be difficult to get as he has been battling health issues but if you can get him I really feel he would add alot to this community.Hope this helps.    Thanks  KD 

PS Enjoy this Blessed Holiday with loved ones this weekend !!!   KD

Angry Chef's picture

Rogue Mornings - Guests - London Paul & James "The Russian......

....Analyst" (04/14/2017)

This is a really interesting discussion and covers North Korea and Syria and the Trump administration. And ultimately the sober reality of the situation. Anybody that think threatening North Korea or Syria is delusional.

Alien Eye's. I think you'll find it particularly of interest.

canary's picture

Chuck Butler for A2A

 yes....He just talked about Puerto Rico $70 billion due  May 1th....money they don't have.

http://www.dailypfennig.com/2017/04/14/short-n-sweet-friday/

AlienEyes's picture

SilveryBlue

With as many enemies as we (US) have, if we become any weaker, they will line up to take a shot at us.

I think you live in NZ. When you are ruled by a Kim clone, speaking Arabic and being beaten for not wearing a burka or clapping loud enough, maybe then you will catch on. But for some reason, I doubt it.

I have no illusions about how we got where we are but we are human and make mistakes. NZ has never been in the position the US is in. However, you expect our protection as a given. I wonder if your liberal tune would change if we weren't there to protect you or simply didn't give a damn what happened to you. Frankly, I'd be with the latter group. Liberals that speak English aren't worth fighting over. Better to lay back and watch while they get what they thought they wanted, all the while screaming at the top of their lungs for the US to help them.

Finishing number two in a fight to the death means 'you're dead'.

SilveryBlue's picture

SilerBelle Pretty sure

The ode to joy was done in Japan. 9M views now smiley

Does it matter if the best ever dreamed up is preserved by Asians? As long as it is preserved I don't care if it gets sung by African bushmen.

SilveryBlue's picture

Dream on AE

NZ does not need US "Protection" and we know we would be the first to be sacrificed if we ever got invaded.

US finds us useful because of our location and historic association with the much larger Australia. Period. Our politicians rub up against US because they are largely brainless - just like yours. Don't judge Kiwis by the pollies.

Angry Chef's picture

Want to understand the Deep State? Here is your Deep.....

.....Deep State

https://jonrappoport.wordpress.com/2017/04/13/want-to-understand-the-deep-state-here-is-your-deep-deep-state/

Good article by Jon Rappoport. It's these bastards that are driving us over the edge. I say we hunt them down now before it's too late.

Angry Chef's picture

Happy Easter Deep State !

Korean%20war%20stats.jpg

Newager23's picture

GDXJ

I did my DD on GDXJ. It turns out that the significant rebalancing coming in June is correct. VanEck released information on the 13th. Here is the link:

https://www.bloomberg.com/news/articles/2017-04-13/vaneck-s-junior-gold-miner-etf-seen-rebalancing-as-assets-soar

What happened is they got too big to hold low market cap stocks, including some mid-tiers. They now own too big of a slice for some companies, and have to sell. So, because of their success, they are being forced to add larger cap stocks, because they can't own 20% of a company. 

My suggestion is to move to GOEX (previously GLDX) or SGDJ (sprott) if you want higher returns. GDXJ is steadily going to move to larger and larger stocks as the ETF grows in size. If looks like another solution is to create your own portfolio of mid-tier producers. It will have more risk than an ETF, but more upside potential.
 

Chiron's picture

If Trump wants to bomb on Easter...

What is he going to do on the Fourth of July?

Angry Chef's picture

Iran held national nanotechnology Olympiad for students

Oh ya.....well our kids can put a condom on a cucumber and they don't even use there hands ! Trying topping that you, you, you... guy's with all that Oil and who don't want to sell it for our fiat.

http://www.presstv.com/Detail/2017/04/14/518042/Iran-held-national-nanotechnology-Olympiad-students

AlienEyes's picture

SilveryBlue

"NZ does not need US "Protection"

Silly girl. Your view of reality is like that of a lemming. You will go over a cliff yelling 'all is well' all the way to the bottom....and so be it.

laugh

The wood lemming is the tiniest of them all, measuring anywhere ...

Libero's picture

President small hands drops a big bomb

to divert attention from the friendly fire incident the day before. 

http://www.cbsnews.com/news/us-airstrike-kills-18-allied-syrian-fighters-in-friendly-fire-incident/?ftag=YHF4eb9d17&yptr=yahoo

Let's see, MOAB kills 37 Isis fighters, minus the 18 allied fighters = 19 on the plus side.  I'm sure the gullibles and trump apologists will look at this as a win.

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