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

NW VIEW's picture

AIJ, a slight twist on the "flogging of a banker"!

   The old house, the temporal temple, that was going to be torn down, was filled with money changers, greed and exploiting the people.   Today, the Temple is here, being those who have received Him within and Jesus still wants the corruption driven out of the Living Temple, the House of God, the Church, the Body who's  house we are.    How will this ever be seen if the prosperity gospel is still preached by blind clergy?     Get the whips ready!       Jim

canary's picture

Is Stephen Leeb wrong when he talks on KWN that China...

stops exports of coal to North Korea?....China's been importing coal from Pyongyang and cut it lately.

http://www.cnn.com/2017/02/19/asia/china-coal-north-korea-ban/index.html

BillD's picture

FAILED NK MISSILE LAUNCH

BLEW UP RIGHT AFTER LIFTOFF...

YEP... he did it... awaiting US response

  •  

N. Korea fails in new missile test: Seoul

04fa4660-8b0f-11e6-8636-cbc0321bcf4b_AFP

AFPApril 15, 2017

An unidentified rocket is displayed during a military parade marking the 105th anniversary of the birth of late North Korean leader Kim Il-Sung in Pyongyang on April 15, 2017

An unidentified rocket is displayed during a military parade marking the 105th anniversary of the birth of late North Korean leader Kim Il-Sung in Pyongyang on April 15, 2017 (AFP Photo/Ed JONES)

A new North Korean missile test failed on Sunday, the South's defence ministry said.

"North Korea attempted to test an unidentified type of missile from Sinpo area in the South Hamkyong Province this morning, but we suspect the launch has failed," the ministry said in a statement.

The ministry said it was analysing the test for further details.

Texas Sandman's picture

Nothing to dislike about this chart...

Looking back two weeks we have a nice big bullish candle.  Then last week some sort of a spinning top or doji (indecision) retesting the confluence support of the 50MA and 200MA.  Then we got another big bullish candle.

My read: Broke confluence resistance of 50MA and 200MA which matched to the pixel.  Then retested this level as support (normal, natural, expected).  Support held.  Now rally resumes.  50/200 subsequently crossed bullishly.  This happens only rarely.  MACD rising parallel with signal line.  All systems go.

Big Unknown: Huge commercial short position.  What does it mean.  They are usually right, but NOT always.  Look at the rocket blast to $50 in 2011 when they were in a world of hurt.

SilveryBlue's picture

British stand exposed article

Should be a must read for everyone. The man behind the curtain coming to light at last

benque's picture

Failed missle test

So was it hit by a US submarine launched sea to air missile, moments after it launched?  I hope so.

Maestro's picture

Excellent response A.E.

However, as the U.S. has a small historical problem with using WMD in the past as false flags to enable the killing of millions, and as your Constitution now allows your President to bomb foreign countries with impunity without due oversight, I apologize if I don't cut you any slack aside from kudos for your knowledge of basic Sarin nomenclature. (Wikipedia?)

The only "Butchers of Baghdad", Libya, Egypt, Syria, et al to name a few just in the last decade.......are the U.S..  From a global perspective, your  country is truly psychopathic. 

"We came, we saw....we killed (laughter)"

........you may be surprised that they actually don't hate you for your freedoms!

They hate you because you indiscriminately  kill their people..because you rape their countries of resources.... because of the myriad of brutal totalitarian governments you empower....  you probably actually believe that bombing a country or toppling a government is justified to bring democracy, while your own country epically plumbs ever lower rates of voter turn out each election!  Hypocrites.  

Personally, although I should  I don't hate you for any of the above ..I just despise you for your profoundly uneducated ego.

U.S.A!...U.S.A!....U.S.A!

AlienEyes's picture

Maestro

Arrogant arsehole, aren't you ? cheeky

Even if cunt-ta-duh has nothing to be proud of.

Now run along and beat a baby seal to death.

Maybe it will make you feel like a man....even if you aren't and never will be.

Dr Jerome's picture

rxman

Large commercial farms!  I think one of those farms is called Indiana. wink

canary's picture

Trying to imagine Earth without humans

          Image result for earth without humans images

canary's picture

Double....Earth without me

 ....      

djr66's picture

billhilly

Regarding the BMO research.  I got it in an email from a friend of a friend.  It most likely is directed more toward institutional investors and thus not widely available to the investing public.  I usually would not post information like this but I thought it was too useful not to share. 

I can tell you that there are analysts that specialize in the rebalancing of indices and the effect they have on the individual securities in the index.  I have seen reports a week before the actual index changes are announced speculating on which securities will be added or removed.  Very often they are accurate and very often you will see that the stocks had already moved in advance of the announcement.  These types of reports can bring in big commission dollars to investment firms.

Imagine if someone were to suddenly  put in an order to sell 12,000,000 Kirkland Lake Gold at the market on the close on Monday.  The stock would go to zero.  The purpose of making these announcements in advance is to prepare market participants  so that there won't be adverse volatility in the market.  Active fund managers will be selling junior gold stocks in the hopes of buying them back cheaper in June.  Hedge funds and liability traders will likely short these securities in the hopes of doing the same.  This advance positioning will reduce the volatility the week of the rebalance.  That is what we were seeing on Friday and will continue to see in the weeks ahead.  Very often the actual day of the rebalance turns out to be a low volatilty non event.

The actual changes to the index won't be announced until the week before based on the closing prices at the end of May.  The report you saw on Friday showed you what would happen if the rebalance was based on current market prices.   But these stocks will continue to go up and down and that will effect the final amounts that have to be bot and sold.

Tileman's picture

Jnug

I would sure like to hear turds take on this Jnug deal. 

AIJ's picture

NW View

I believe the prosperity preachers know full well what they are doing.  And so do their followers. 

The excuse at judgment day will be, " How were we supposed to know?" 

The Lord will respond, "You had my word.  The answers were there. Why did you not listen?" 

Blythesshrink's picture

Whether the Supreme Leader's

Whether the Supreme Leader's rocket blew up or not, all I've seen in the reports so far is " but we suspect the launch has failed," the ministry said in a statement." - hardly conclusive.

Here's a question for those of you suggesting that the British stll rule the world:

1. Why did the UK parliament vote against war in Syria in 2013, when apparently they run the cabal that wants it?

2. Why has the UK been subservient to the EU for the last 40 years?

The British Empire ended after the first world war and was declining prior to that. The current empire is in Washington.

AlienEyes's picture

Kim's Rocket

I wonder if a US laser lit that puppy up and blew it to hell.  wink

Couldn't be. The dem-o-craps said 'star wars' (SDI) would never work.  laugh

AlienEyes's picture

bird

Here's what else Jonas Salk did.....

Dirt_Reynolds's picture

@djr66

Quote:
... bot and sold

I wonder that you meant bought and sold. Either way, fuckin' genius! O7

#keepstacking

phoenixphoenix's picture

I like Rob McEwen, he has

I like Rob McEwen, he has been staunch and unwavering in his belief in the Precious Metals throughout all the machinations and manipulations in the sector.

Robert McEwen, one of the gold’s industry’s best-known bulls, is predicting that the precious metal will continue to surge this year, closing 2017 much higher than today’s prices of around 1,290 an ounce.

The former investment banker, who for years have made bold predictions when it comes to precious metal prices, is sure that bullion will reach $5,000 an ounce, though, he warns, that won’t happen “immediately.”

“The metal is in an upward trend now and while it has years to go before it peaks, gold will continue to climb higher. It won’t be a straight line, but the direction is definitively up,” he told MINING.com

http://www.mining.com/gold-bull-mcewen-says-price-rally-has-just-begun/

And Marc Faber of course...quote..

But in general I think that people will gradually wake up to the fact that in absence of knowing how the world will look like in five or ten years, you need some diversification and in this environment, I think that some people will say "well, let's own some gold." Most people will only own five or ten percent but some people will own 20 percent and I think that if the whole world decides to own, just say three percent or five percent, and the fund managers who are very anti gold see gold prices running up again… the whole investment business has become a momentum game… so if they see that gold is moving up in a convincing way they'll buy gold.

So, my sense is that you need some gold strength and then people will come in and buy gold simply because it moves up. I buy gold all the time, of course within my asset allocation… I also have shares and bonds and real estate… but I always buy some gold to maintain the proper weighting.

http://www.marketoracle.co.uk/Article58730.html

NUGTCALL's picture

Fucking bankers are all criminals

MUST WATCH

HE WILL RISE AGAIN. HAPPY EASTER

Whitecastle123's picture

JM Bullion

Had some of these RMC 5 oz. bars delivered last week from JM.  If you like poured bars you'll love these. 

scoremore's picture

Elemetal/Provident Privateer release?

The White Whale 6th Privateer?

I saw this video and small amount available but not at Provident yet.

In the video the "Salivate Metals" guy states some info but I am not sure if these are rumors or fact...

Pretty cool design though...I will pick one up because I own at least one of each of the Privateers.

I will need a way to get the 2 oz airtite though if I continue avoiding Provident.

Here is the video:

canary's picture

JNUG...here is my plan for tomorrow

Sell 50% of JNUG, and buy NUGT.....Seems like the majors will be in favor for the next few weeks

Thanks Alien for polio info.

AIJ's picture

I like Trumps tweets because the responses...

...are so hilarious...

27m27 minutes ago

Replying to

Someone please take his phone away from him!

  •  

I'm guessing you took the wrong pill this morning?

24m24 minutes ago

Replying to

Please Jesus. Come back today and do something about this guy.

phoenixphoenix's picture

One Bank to Rule them All.

The gist of the computer modeling was that a single “super-entity”, by itself, controlled roughly 40% of the global economy. The term “super-entity” is simply a synonym for monopoly. The research further stipulated that ¾ of the 140+ (gigantic) corporate fronts which comprised this mega-monopoly were financial intermediaries (i.e. banks), hence the title, The One Bank.

The research names “names”. Goldman Sachs, JPMorgan, Bank of America, Morgan Stanley, Citigroup, Deutsche Bank, Barclays, Credit Suisse, UBS, Merrill Lynch, Bear Stearns, and Lehman Brothers are among the Big Banks listed as being tentacles of this enormous, financial crime syndicate. Note that the latter names on that list are deceased, (supposed) “casualties” of the Crash of ’08. But with all of these financial tentacles part of a single whole; this proves that the bail-outs which came after that event, and even the crash itself were pure fraud.

https://www.sprottmoney.com/blog/the-one-bank-revisited-jeff-nielson.html

billhilly's picture

djr66...

I am grateful for your response and explanation, thank you !  What you say makes sense in a certain way but I still have difficulty understanding the machinations of this/these products.  I was able to access the JNUG prospectus yesterday and saw that it was 492 pages in length.  I must believe that even the creators themselves have difficulty understanding its entirety.  Their bottom line must be, "it makes us a TON of money" !

It is truly unfortunate that we commoners cannot fully appreciate the workings of these products, by design.  I get the sense that they hide behind the complexity to game the product and slowly suck away any vital inherent value, again for THEIR benefit. 

According to the ZH report yesterday the "authorized participants" can create shares at will;

"As a reminder, ETF shares are created when an “authorized participant” deposits a daily “creation basket” (or cash) with the ETF. An authorized participant is typically a large institutional investor, such as a broker-dealer, that enters into a contract with an ETF to allow it to create or redeem shares directly with the fund.

In return for the creation basket or cash (or both), the ETF issues to the authorized participant a “creation unit,” a large block of ETF shares (generally 25,000 to 200,000 shares). The authorized participant can either keep these ETF shares or sell some or all of them on a stock exchange."

So if shares are regularly "created" then does this not dilute the entire product ?  This sounds an awful lot like the Comex digital Silver/Gold scam.  It is no wonder the chart pattern of these products looks like the flight path of a duck that has just been shot. 

And yes, I know about the "due diligence/know your risk" part of the equation.  However, after very briefly looking over the prospectus, it is clear that most folks, myself included, would have difficulty making a proper assessment. 

Bottom line...these are pure gambling deals.  At the level that most of us are at, I assume, there is no way we can make well informed decisions about these products.  We are simply along for the ride.   Please be careful everyone !

Maestro's picture

24 to 5

Community voting aside.....

I'll explain, though I don't expect it to stick, what the current problem is with the U.S.

You have no business in Iraq, Iran, Afghanistan, Egypt, Syria, Ukraine, or North Korea.  The only reason some of  these countries are vying for nuclear capabilities is because they know the history of your country as global government pedophiles.  

The internet alone will do more to advance these countries than the U.S. and your bombs could ever hope to accomplish.

Stop threatening them and guess what....they just might do the same.

Or better yet, spend your trillion plus dollars currently earmarked for your industrial war machine/NSA/CIA on peaceful initiatives, hospitals, schools.....and apologies...and the world might, just might begin to like you.

"Shock and Awe" only apply to the historically unimaginable actions of your country....although trust me, there is no "Awe".

Thank you for playing your part to illustrate arrogant American imperialism in this open forum.  The more light we can throw on the true problem, the sooner we  can solve it....and save the world.

I hazard to guess, the main reason why we are all here, why we all invest in precious metals is because of the U.S. 

Welcome to the club.

canary's picture

Erdogan (Turkey) will become a total dictator...

and people voluntarily, consciously and willingly vote for that.....Nothing has changed since pharaoh.

Mickey's picture

GDXJ and NUGT issue

Not all that long ago, Hedge Funds and open ended mutual funds used to "close to new investors" when there was too much flow to their funds and sectors.

Now greedy hedge funds keep on taking in money and investing that money in lesser quality companies or if not lesser quality, just priced too high.

The reason, if there is unused cash in a hedge fund, investors pull it out. Managers do not want to lose AUM

The GDXJ and JNUG issues now are reflecting exactly what we have been discussing for years. This particular sector and its sub-segments: physical gold and silver, Large, Mid and Junior miners --thats  it-if you want the real thing this is the only way to go, not futures not etfs that use futures. Certainly not the leveraged funds which have to use derivatives. (except for the time being the JUNG NUGT complex is doing well)

GDXJ I believe actually owns the stocks as do the other two primary Junior Funds--But NUGT and JNUG, because they are leveraged have to rely on swap  counterparties to take the short side. Think about that. 

I like to do options on equities, long and short. I am still writing covered calls  I plan on buying loads of long call options when we get into a sustained strong  up-move. If things get hectic then I go into it understanding that long calls may not be worth much. Physical  Gold and silver will. Miners, will be worth their metals in the ground.

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