Inside the Kinesis Vault

Thu, Mar 25, 2021 - 1:31pm

A few days ago, my old pal Andrew Maguire invited me to join him on his weekly video report for Kinesis. How could I say no? So this was recorded yesterday. I think you'll enjoy it.

In what should come as no surprise, Andy and I had planned on a 30-minute discussion. However, once we got going, we kept coming up with more topics to address.

So here's over an hour of two old grizzled veterans, kicking back and discussing the current state of the global precious metals markets. What do we cover? A lot, including:

  • the ongoing silver squeeze
  • the vulnerability of unallocated accounts
  • the sordid history of gold price manipulation
  • the global wholesale situation
  • where price heads from here in 2021

With today's Thursday Conversation being recorded later today and posted by 8:00 pm EDT, this podcast is certainly timely in regards to giving you something to enjoy in the interim.

Please feel free to post, tweet and forward this link as often as possible.


About the Author

tfmetalsreport [at] gmail [dot] com ()


Mar 28, 2021 - 3:32pm

How safe is Kinesis?

Is storing metals with Kinesis as safe as a traditional storage company such as Miles Franklin & similar?

How much yield are they paying?

Also, how do taxes work for US customers?


Mar 26, 2021 - 12:27pm

60 day policy

I think that policy has been in place since they started. I did a redemption last fall of silver to gold and I was unaware of the 60 day policy but was informed at that time that it had to have been in there for 60 days. I made the purchases around $12 to $17 dollars an a ounce last spring so I had already held well longer than 60 days. The transaction was relatively simple. The hiccup I ran into was that they have an extra layer of KYC that has to be done before you can do redemptions. That took a couple days to go through but I believe once you do the extra KYC for redemption you don't have to do it again. But as always if you don't hold it you don't own it. I am considering redeeming out again but I was hoping for premiums to come back to more reasonable levels. They were better last fall when I did the redemption

Mar 25, 2021 - 11:54pm

Somehow I missed the LBMA part.

The corrupt JPM Metals Desk Manager was on the LBMA fix team. Not only was he able to spoof internally at the JPM operation, he had influence on both sides at the LBMA...

As the CFTC investigation neared closure of named Criminal Enterprise JPM Metals Desk (and the Manager of it), magically the lead CFTC lawyer retires to a well-appointed desk at famed DC power-firm Skadden Arps.

In very short order, Skadden Arps is defending JPM (specifically Mr. Metal Desk himself), lead attorney being none other than the former CFTC Attorney.

And we wonder how the "London Fix" works...

Someday, it's all going to end.

Mar 25, 2021 - 9:41pm

George Gonclaves

Check out these two charts.

$100B of "other"

What’s in the “OTHER” bucket, @bondstrategist ?

— Danielle DiMartino Booth (@DiMartinoBooth) March 25, 2021
Mar 25, 2021 - 8:47pm


I've had a sizable position in silver in Onegold for over a year. Sometimes getting cash back out and lately getting some Eagles for my silver, held over sixty days. The transaction in the last week was seamless and from order execution to my house via USPS was less than a week, all done electronically. I took some gold out because I was getting concerned that my silver position was getting too high as a percentage and too much in Onegold should there be a problem. I will soon resume buying silver at Onegold but will convert or sell if the position gets too high again. So far Onegold's service has been great.

Mar 25, 2021 - 8:10pm

Listen to minute 13 and then listen five more times

Who was sitting on the board of directors of the LBMA? And who was the other guy who became the lawyer for the charged manipulator? We really need a T-Shirt for this.

CC Horses
Mar 25, 2021 - 8:07pm

John Adams

John Adams: Is Perth mint defaulting on silver orders?

1 hour

Mar 25, 2021 - 7:56pm

Craig, great job with Andy!

Timely content, a genuine rapport with Andy, and you were all clean, pressed in your Sunday best. Did the Rothschild's know you were filming from their reading room?!!

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

Mar 25, 2021 - 7:26pm

With regard to OneGold

I have had over 10 G's in there for over a year now. I have never redeemed for phyz, I just keep adding to my silver bucket every pay. My goal is to wait for GSR to be somewhere near 35:1 before I redeem my galactic silver to phyz gold. I am ONLY getting nervous because there is a lot of smoke out there with regard to allocated/unallocated/people able to redeem phyz they have been paying storage on/etc. It isn't that I distrust OneGold, not at all. I distrust the field upon which they play, and I am worried that one massive event will F me out of all that I have there. I trust OneGold very much, I just don't trust the environment in which we are all forced to operate.

I also don't trust President Grandpa Earpiece Burden as far as he can fall up stairs, but that is a whole nother discussion. Actually, now that I think about it, that analogy sucks because that fucker can REALLY fall up stairs like nobody I have ever seen in my life. It is as though his brain doesn't weigh him down at all. In fact, his head is probably filled with helium, or perhaps even a complete vacuum (even more boyant in our covid infested unbreathable air)...

Mar 25, 2021 - 7:20pm

How many world leaders do you know...

...that need cheat sheets with names, face thumbnail pics, who to call on circled next to their name during a choreographed BS pre-arranged horse shit "press conference"? Only one fella I can think of!!!!!


Joe Biden had a cheat sheet of all the reporters with numbered circles by the ones he was supposed to call on.#Scripted

— Brick Suit (@Brick_Suit) March 25, 2021

Again, PM's should be going 10x right now after that shit show. Fucking guy is looney tunes.

Subscribe or login to read all comments.

Become member and subscribe to Turd's Vault


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 4/19

4/22 8:30 ET Initial jobless claims
4/22 10:00 ET Existing home sales
4/22 10:00 ET LEI
4/23 9:45 ET April flash PMIs
4/23 10:00 ET New home sales

Key Economic Events Week of 4/12

4/13 8:30 ET CPI
4/13 12:00 ET Goon Harker
4/14 8:30 ET Import Price Index
4/14 12:00 ET Chief Goon Powell
4/14 2:45 ET Goon Chlamydia
4/15 8:30 ET Retail Sales
4/15 8:30 ET Philly Fed
4/15 8:30 ET Empire State Manu
4/15 9:15 ET Cap Ute and Ind Prod
4/15 2:00 ET Goon Daly
4/15 4:00 ET Goon Mester
4/16 8:30 ET Housing starts

Key Economic Events Week of 4/5

4/5 9:45 ET Markit service PMI
4/5 10:00 ET ISM service PMI
4/5 10:00 ET Factory Orders
4/6 10:00 ET JOLTS job openings
4/7 9:00 ET Goon Evans
4/7 12:00 ET Goon Barkin
4/7 2:00 ET March FOMC minutes
4/8 12:00 ET Chief Goon Powell
4/9 8:30 ET PPI
4/9 10:00 ET Wholesale inventories

Key Economic Events Week of 3/29

3/30 9:00 ET Goon Quarles
3/30 10:00 ET Consumer Confidence
3/30 2:30 ET Goon Williams
3/31 8:15 ET ADP Employment
3/31 9:45 ET Chicago PMI
3/31 time TBA Biden Infrastructure speech
4/1 9:45 ET Markit Manu PMI
4/1 10:00 ET ISM Manu PMI
4/1 10:00 ET Construction spending
4/2 8:30 ET BLSBS

Key Economic Events Week of 3/22

3/23 9:00 ET Goon Bullard
3/23 12:00 ET CGP and Mother on Capitol Hill
3/24 8:30 ET Durable Goods
3/24 9:45 ET Markit Flash PMIs March
3/24 10:00 ET CGP and Mother on Capitol Hill
3/25 8:30 ET Q4 2020 CDP final guess
3/25 12:00 ET Goon Bostic speech
3/25 3:45 ET Goon Chlamydia speech
3/26 8:30 ET Personal Income and Spending
3/26 8:30 ET Core Inflation
3/26 10:00 ET Consumer Sentiment

Key Economic Events Week of 3/15

3/15 8:30 ET Empire State Index
3/16 8:30 ET Retail Sales
3/16 8:30 Import Price Index
3/16 9:15 ET Cap Ute and Ind Prod
3/16 10:00 ET Business Inventories
3/17 2:00 ET FOMC Fedlines
3/17 2:30 ET CGP presser
3/17 8:30 ET Philly Fed

Key Economic Events Week of 3/8

3/8 10:00 ET Wholesale Inventories
3/10 8:30 ET CPI
3/10 2:00 ET Federal budget
3/11 8:30 ET Initial jobless claims
3/12 10:00 ET JOLTS job openings
3/13 8:30 ET PPI
3/13 10:00 ET UMich sentiment

Key Economic Events Week of 3/1

3/1 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 1:00 ET Goon Brainard
3/3 9:45 ET Markit Service PMI
3/3 10:00 ET ISM Service PMI
3/3 12:00 ET Goon Bostic
3/3 2:00 ET Goon Evans
3/4 8:30 ET Unit Labor Costs
3/4 10:00 ET Factory Orders
3/4 12:00 ET Chief Goon Powell
3/5 8:30 ET BLSBS

Key Economic Events Week of 2/22

2/22 10:00 ET LEIII
2/23 9:00 ET Case-Shiller home prices
2/23 10:00 ET CGP at US Senate
2/24 10:00 ET CGP at US House
2/24 1:00 ET Goon Chlamydia speech
2/25 8:30 ET Jobless claims
2/25 8:30 ET Durable goods
2/25 10:30 ET Goon Bullard
2/26 8:30 ET Pers Inc and Spending
2/26 8:30 ET Core inflation
2/26 9:45 ET Chicago PMI
2/26 10:00 ET UMich sentiment

Key Economic Events Week of 2/15

2/17 8:30 ET Retail Sales
2/17 8:30 ET PPI
2/17 9:15 ET Cap Ute and Ind Prod
2/17 10:00 ET Business Inventories
2/17 2:00 ET January FOMC minutes
2/18 8:30 ET Initial jobless claims
2/18 8:30 ET Import price index
2/18 8:30 ET Philly Fed
2/19 9:45 ET Markit Feb flash PMIs

Recent Comments