TF Metals Report

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.

TFMR Podcast - Friday, May 22

Friday, May 22, 2020 - 5:39pm

128

Bounceback Friday

Friday, May 22, 2020 - 11:56am

By TF

TFMR Podcast - Thursday, May 21

Thursday, May 21, 2020 - 4:06pm

Banks Still In Charge

Thu, May 21, 2020 - 11:04am

By TF

TFMR Podcast - Wednesday, May 20

Wed, May 20, 2020 - 6:04pm

Slugging Away at $1750 and $18

Wed, May 20, 2020 - 10:51am

By TF

The CGP Two-Step

Nice tie, though.

Wednesday, May 13, 2020 - 10:27am

By TF

Our old purple tie-wearing buddy made an appearance from his bunker today. He was quick to inform the world that we are all in dire straits, the The Fed stands ready to whatever whenever and that all of the Goons are unanimously opposed to negative interest rates.

And it's that last...

TFMR Podcast - Tuesday, May 12

Tuesday, May 12, 2020 - 5:55pm

An up and down session in the Comex digital metals leaves CDG, CDS and the shares mostly unchanged on the day. However, this will likely not be the case tomorrow as Chief Goon Powell will rock the mic early in the Comex session. What he says...and how he says it...will be certain to impact all...

Fed Begins Buying ETFs

Turning Japanese. I really think so.

Tuesday, May 12, 2020 - 11:00am

By TF

Though the Fed Goons are out in force today with endless distracting headlines, the key event of the day is the beginning of The Fed's program of outright purchase of shares in select corporate bond ETFs. This significant expansion of their QE∞ activities was first detailed back in March but...

TFMR Podcast - Monday, May 11

Monday, May 11, 2020 - 5:39pm

The week begins on a dreary note but that's nothing new as most weeks in 2020 have begun the same way. And as you know, however, it's not how you begin the week that matters.

For today, a general discussion of the day's events as well as some commentary on the risk/reward of the...

Goon Week

Monday, May 11, 2020 - 10:56am

By TF

It will be a busy week for economic data but an even busier week for the Fed Goons as the calendar includes nine speeches from eight Goons, including an appearance by Chief Goon Powell on Wednesday. In between we get the PPI, the CPI and Retail Sales, too.

With all of the Goon speeches...

TFMR Podcast - Friday, May 8

Friday, May 8, 2020 - 7:32pm

186

It was a long day with a bunch of drive time made even more frustrating by the relentless amount of CDG on the offer pressing price lower and lower. But your frustrated host found himself an adult beverage to ease the pain and managed to find the time to record this weekly warp-up podcast....

Utter Madness

HFT + QE∞ = Crazytown

Friday, May 8, 2020 - 10:31am

By TF

100

Only in the insane world of HFT machine trading and QE∞ would you ever expect a rally in the "stock market" and a selloff in gold based upon the worst monthly US job losses ever reported. But that's exactly what we saw today.

And again, this is NOT a function of fundamentals. As you...

TFMR Podcast - Thursday, May 7

Thursday, May 7, 2020 - 6:11pm

It was a great day for the Comex metals and the mining shares as negative US interest rates suddenly become a very real possibility in the months ahead.

Recall what we've told you since 2016: "Negative interest rates are the greatest fundamental rationale for physical gold...

Dumpless Thursday

At least so far...

Thursday, May 7, 2020 - 9:44am

By TF

So far this morning we have not seen the same old Comex dump that we've had to absorb on eight of the previous nine days. By no means are we out of the woods but maybe today will provide a brief respite.

So anyway, I hope everyone enjoyed the TC with Chris Vermeulen yesterday. He's a...

On Again With Max and Stacy

Thursday, May 7, 2020 - 8:51am

By TF

It's always great fun to be on The Keiser Report with Max Keiser and Stacy Herbert. In this episode, recorded earlier this week, we discuss gold, QE∞, China and stagflation.

As is the usual format, my segment is in the second half of the program. But you should be sure to watch the...

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 4/20

4/20 8:30 ET Chicago Fed
4/21 10:00 ET Existing home sales
4/23 8:30 ET Weekly jobless claims
4/23 9:45 ET Markit flash PMIs
4/24 8:30 ET Durable Goods

Key Economic Events Week of 4/6

4/8 2:00 ET March FOMC minutes
4/9 8:30 ET Producer Price Index
4/10 8:30 ET Consumer Price Index

Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Key Economic Events Week of 3/23

3/24 9:45 ET Markit flash PMIs
3/25 8:30 ET Durable Goods
3/26 8:30 ET Weekly jobless claims
3/27 8:30 ET Personal Inc and Spending

Key Economic Events Week of 3/9

(as if these actually matter)
3/11 8:30 ET CPI
3/12 8:30 ET weekly jobless claims
3/12 8:30 ET PPI
3/13 8:30 ET Import Price Index

Key Economic Events Week of 3/2

3/2 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 10:00 ET Construction Spending
3/4 8:15 ET ADP employment
3/4 9:45 ET Markit Service PMI
3/4 10:00 ET ISM Services PMI
3/5 8:30 ET Productivity & Unit Labor Costs
3/5 10:00 ET Factory Orders
3/6 8:30 ET BLSBS
3/6 10:00 ET Wholesale Inventories