The end of the Great Keynesian Experiment is upon us. Turd Ferguson and his band of loyal Turdites patrol this Watchtower. We are here to help each other navigate the coming economic chaos. However, no one can predict every eventuality, so please read the disclaimer and community guidelines before proceeding.

Minute By Minute

Be ready for some volatility today.

Wednesday, May 22, 2019 - 10:41am

A great song by The Doobie Brothers. And I might need a big, fat doobie by the time the FOMC minutes are finally released this afternoon and the Comex metals are wiggled about in the aftermath.

Check out the ridiculous action that has already occurred today. Yep, this sure looks like a...

TFMR Podcast - Tuesday, May 21

Tuesday, May 21, 2019 - 6:12pm

Comex gold staged an impressive bounce from its 200-day moving average today so we use this podcast to assess the situation and prepare for tomorrow's FOMC minutes.

As such, please be sure to read this link:

All Better

Sell in May and then sell some more.

Tuesday, May 21, 2019 - 9:44am

The Trade War is over, global peace has broken out, interest rates are rising, the POSX is stronger, the "stock market" is rallying....bliss, nirvana and euphoria reign supreme.

At least that's how it seems today. Not much was happening overnight until this headline hit. Did Trump just...

TFMR Podcast - Monday, May 20

Monday, May 20, 2019 - 5:25pm

The week begins with a quiet day for the Comex precious metals. Chances are high that the week won't end that way.

For today, just a brief podcast to keep you updated. First, this link:...

Looking Forward To Friday

It's going to be an interesting week.

Monday, May 20, 2019 - 11:09am

A new week begins with plenty of news pending. We've got the FOMC minutes on Wednesday, some PMIs on Thursday, Durable Goods on Friday, a 3-day weekend and then Jun19 option expiration next Tuesday. So, let's just dig right in. Here's your datapoint schedule:...

TFMR Podcast - Friday, May 17

Friday, May 17, 2019 - 5:44pm

Next week brings the FOMC minutes and the likely final low and turn in both Comex precious metals. In preparation, let's call it a week and put these shenanigans behind us.

For today, we reference these two links:

  • ...

Weekend Watching - Grant Williams on Gold Price Manipulation

Be sure to watch this video.

Friday, May 17, 2019 - 12:28pm

Our friend, Grant Williams, has crafted this excellent new video. You should be sure to watch it.

This video is branded under the RealVision project...Grant's terrific service that he began with Raoul Pal a few years back. If you're not yet a subscriber, you should give it thorough...

Old Adages

Punch drunk or opportunist?

Friday, May 17, 2019 - 11:17am

By now, you know there are several tried-and-true adages of Turdville. One of them deals with "buying some when things look the most lousy". Does today qualify?

Man oh man. After nearly nine years... devoting 16% of my life! ...of writing about this stuff, I often get...

TFMR Podcast - Thursday, May 16

Thursday, May 16, 2019 - 4:55pm

Another day, another manipulation...though this time it was more obvious and plain to see.

So we begin the day by asking, if there's a convicted "Bank FX Cartel", then why is it so hard to admit/believe that there's a "Bank Gold Cartel"? You got me on that one....

Open Interest and Price Manipulation

Once again, you're seeing this play out in real time.

Thursday, May 16, 2019 - 11:02am

In unsurprising fashion, the only positive datapoint of the week served as impetus to drive the price of Comex gold lower today. This is no surprise given the nearly unprecedented recent surge in Comex gold open interest.

So here's your datapoint that was used to smash gold from $1295...

Key Economic Events Week of 5/20

5/20 7:00 pm ET CGP speech
5/21 10:00 ET Existing Home Sales
5/22 2:00 ET FOMC minutes
5/23 9:45 ET Markit PMIs
5/24 8:30 ET Durable Goods

Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)


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