TFMR Podcast #1

Sun, Sep 11, 2011 - 6:58pm

Great ideas are often born in an instant. Last month, after participating in the Jim Rogers webbotforum interview, someone mentioned that I should start interviewing people myself. Hmmm, I thought, that's not a bad idea. Not a bad idea, at all. So, beginning today, The Turd is officially expanding his media empire. Soon the list of global media titans will not only include Rupert Murdoch and Oprah but Turd Ferguson, too!

OK, maybe that's a bit of a reach. Nonetheless, I thought this sounded like a fun idea. My hope is that, on a bi-weekly basis, I will be able to provide "discussions" for your listening pleasure. As you might imagine, they will not be your typical interviews. Just me and whomever, having a frank discussion about stuff. Nothing slick. Nothing polished. No edits. Just a recorded telephone call which you will be able to overhear. 

Sometimes, I'll speak with financial types. Sometimes, I'll speak with authors. Sometimes, I may speak with one of you. You may not like the topic. You may not like the guest. You may not like me. Frankly, it doesn't matter. You're not forced to listen. These podcasts are simply a public service and I hope you find them useful, entertaining and fun.

It was a great privilege to speak with my first "guest" as I have been a big fan of his for years. Mark Steyn is a columnist, an author, a fill-in talk radio host and an all-around good guy. Since I run such a popular website, I was able to secure a visit with him simply by contacting his publisher. His new book, "After America", is a must read for all Turdites. Not only is it thoroughly researched and footnoted, it is written with Mark's trademark brand of wit and insight. My advice to you is to buy it, read it and then pass it along to someone you are personally attempting to "enlighten".

Lastly, I had hoped that I'd have all of my technical issues ironed out before I started. Unfortunately, as Mark and I got animated in our discussion, our volume levels went up and some distortion ensued. I'm sorry for this. Please try to deal with it as best you can and I will try to manage this problem better in the future. TF

Listen: (right-click to download)


After America (Book) America Alone (Book)
After America (Kindle)
America Alone (Kindle)


About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 11, 2011 - 7:05pm

Turd, fantastic idea, will

Turd, fantastic idea, will listen to it right away. Are you planning to finish with Murdoch's empire? Hehe.

Didn't know the author you interviewed, but I may consider getting his book after listening, looks interesting anyway.


Can we make petitions for upcoming interviews? Jim Rickards would be great.

Sep 11, 2011 - 7:05pm

Great Turd!

We're on it like a cougar on a crippled chicken!!!

Sep 11, 2011 - 7:08pm


Best of luck with this plan. Mark Steyn is an excellent author and guest. Good for you.

Sep 11, 2011 - 7:11pm

Mark Steyn

Pretty impressive way to start the TFMR Podcasts.

I love listening to Steyn's take on things.

Good for you TF. That's quite a coupe'.

Sep 11, 2011 - 7:20pm

Repost from last of previous thread

PM Local Dealers

The first dealer stated to me that he would pay -$1.40 per under spot for JM bars, -$1.65 for Silvertown bars and other generic bars. He stated to me that he could not resell the generic bars and would have to remelt to get rid of silver. He was also pleading for 10 oz silver bars in which he would pay -$1.00 under spot. The second dealer I approached must have been on crack because he held firm at -$10% below spot. Needless to say that was a quick visit. The last dealer offered -$2.00 under spot, period.

My question to the group .. what have you been seeing in your areas as offer prices from the local dealers? The first dealer seemed to be the most logical but I am not sure about complete trust yet. He demanded ID in form of a Driver's License .. is this normal ? I am learning here ... probably like many and could use some sound advice from experienced individuals ..thanks. MR

Sep 11, 2011 - 7:24pm landed Steyn

for your first podcast? Excellent! Way to go Turd!

Sep 11, 2011 - 7:26pm


Just love Steyn. I've been reading him since his Speccie days. Way to go!

Sep 11, 2011 - 7:29pm


Yer setting the bar high for your first podcast, Turd. It doesn't get much better than Mark Steyn - we're lucky to catch him when he has a new book to flog.

Looking forward to this. If you ever wind up sitting across the table from Peter Robinson, you must wear the big yellow hat. heh.

Sep 11, 2011 - 7:38pm


My local dealer was offering -.75 for my 100 oz bars. Seems very reasonable in light of your local dealers.

That surprises me about the 1 oz bars, that they are offering -1.70 to -10% under spot.

Great interview, Turd!

Dr G MollyRatchet
Sep 11, 2011 - 7:38pm


One of my LCS offers spot for Englehard and JM bars. $2 under spot for all other generic stuff. He also buys back silver Eagles for $2.25 over spot and Maples and Phil's for $2 over spot. His sell prices are $3.50 over for Eagles, and $3 for Maples and Phils. All other non-government silver is $2 over spot.

Dr G
Sep 11, 2011 - 7:40pm

Turd, thanks for all that you

Turd, thanks for all that you do. Lots of blessings in store for you as a result of your willingness to give of yourself and serve others. You are blessing the lives of many and doing many good deeds. BTW, you need to make the podcast available through iTunes. A whole slew of people there that need your logic the most.

Sep 11, 2011 - 7:40pm

Just too cool.....!!

Way awesome! I have really enjoyed reading Mark's essays on his site. Thanks Turd for introducing me to his work. So much good stuff happening for you!! smiley

Dr G
Sep 11, 2011 - 7:41pm


Define "quickly". I also think $2000/50 will happen in short order, but for gold I'm looking at 6 days and silver about 3 weeks.

Sep 11, 2011 - 7:41pm

Metals recovering a bit...

...starting to look like a trend going into the Japan market opening.

The BOJ will do something pretty quick imo and I think a significant monetary intervention is coming.

They've been in a stagnated economy for over 20 years plus the earthquake /tsunami devastation that occurred and you have a Govt. that needs to juice things up and they now have the green light from the G7 to do so. They will.

The whole notion of the big western banks calling for higher gold prices lately is starting to make a lot of sense now that we can openly see that they have been planning this for a long time. We knew that, but they are out in the open now with their communique of last Friday.

There is no backing away from that desperate statement and it's full throttle on the printing presses from here on out is what I got out of their message. It's all about recapitalization, no matter how they get the money.

I don't think I'm going out on a limb saying $2000 and $50 will happen quickly.

I find it interesting that China had nothing to say about the G7 decision. Actions might speak louder then words.

Sep 11, 2011 - 7:43pm
Sep 11, 2011 - 7:46pm

Remember the XAUCHF

When the SNB pegged the CHF to the Euro, Gold went up $110 vs CHF in a few minutes. Buying Gold vs Yen now may be a good idea.

Sep 11, 2011 - 7:49pm

It is necessary

Turd has overtaken the leopard! Bravo! It is necessary

Sep 11, 2011 - 7:51pm


$2000 by this week (Friday after-market?) sometime and $50 within 2 weeks

Just a wild guess. This PM market can't stay suppressed forever.

Plus we have the Bernank speaking on the 21st/22nd to merely confirm things in his Fed. speak.

I had a feeling the other day that the Bernank looked ill at ease and had a lot on his mind.

Know we now what part of it was. We'll find out the other part pretty soon.

The Bernank is going through his own epiphany right now regarding this situation and his place in it. You know it's killing him not to be the savior in this crisis. It's way bigger then he could have imagined and totally unmanageable by anyone person regardless of how steeped they are in history or monetary policy.

I see a man who has accepted reality and he isn't liking what he knows. jmho

Sep 11, 2011 - 7:52pm

Wow -- impressive

to get to speak to Mark Steyn! Love his wit.

Sep 11, 2011 - 7:53pm

Bank Of Japan Minutes Due On

Bank Of Japan Minutes Due On Monday

9/11/2011 6:32 PM ET

(RTTNews) - The Bank of Japan will on Monday release the minutes for its monetary policy meeting on August 4 and 5, highlighting a modest day for Asia-Pacific economic activity. The bank The BoJ retained the benchmark uncollateralized overnight call rate at 0 to 0.1 percent. At the same time, the members of the policy board unanimously decided to expand the asset purchase program by JPY 5 trillion to 15 trillion.

Japan also will release August figures for its domestic corporate goods price index and July's tertiary industry index. CGPI is expected to rise 2.7 percent on year after adding 2.9 percent in July. The tertiary index is called higher by 0.2 percent on month after surging 1.9 percent in June.

Australia will announce its July trade balance, with forecasts suggesting a surplus of A$1.90 billion, down from A$2.052 billion in June.

Finally, a number of markets are closed on Monday for the Mid-Autumn Festival, including China, South Korea and Taiwan.

by RTT Staff Writer

For comments and feedback: editorial[at]rttnews[dot]com

Dr G Jake
Sep 11, 2011 - 7:53pm

Jake, we can all appreciate

Jake, we can all appreciate Apmex's buy prices, but I had this same conversation with a buddy of mine last week. Is it easier for me to ship a portion of my stack, say 5,000 oz to Apmex or simply drive it to the LCS? In honesty, I don't even know how to ship 5,000+ oz of silver. Can I insure that? I thought USPS, UPS, and Fed Ex wouldn't insure bullion if stated as such. EDIT: a very quick Internet search seems to agree that you can't insure bullion through the normal shipping carrier. A more detailed search might reveal different data, but I don't have time right now.

Sep 11, 2011 - 7:55pm
Sep 11, 2011 - 7:55pm

Euro Drops to 2001 Low vs. Yen on Greece

Euro Drops to 2001 Low vs. Yen on Greece

Q By Candice Zachariahs and Kristine Aquino - Sep 11, 2011 7:22 PM ETSun Sep 11 23:22:50 GMT 2011

The euro dropped to its lowest level since 2001 against the yen and slid versus the dollar as speculation German Chancellor Angela Merkel is preparing for a Greek default curbed demand for the shared currency.

The Australian and New Zealand dollars weakened as investors sold higher-yielding assets amid record Greek bond yields and reports France’s three largest banks may have their credit ratings lowered. The Dollar Index, which tracks the greenback against six U.S. trading partners, climbed for a third day to its strongest in more than six months as investors bought the safest assets.

“There’s a lot of chatter about Greece defaulting and either leaving or getting kicked out of the euro,” said Khoon Goh, head of market economics and strategy at ANZ National Bank Ltd. in Wellington. “There’s event risk and uncertainty around whether or not the sovereign-debt crisis is reaching a point where things are going to boil over. The euro is coming off pretty aggressively.”

The 17-nation euro dropped 0.5 percent to 105.44 yen as of 8:20 a.m. in Tokyo from 105.99 yen in New York on Sept. 9 and earlier slid to 104.92, the least since July 2001....

Sep 11, 2011 - 7:56pm

Love Mark Steyn! Read his

Love Mark Steyn! Read his "America alone" long time ago!

Sep 11, 2011 - 7:59pm

Fantastic TF. ..Love this ..

Fantastic TF. ..Love this .. ..Mark Steyn is my favorite fill-in for Rush and I catch him from time to time on Fox. ...Just a really all around smart guy with alot of stuff worth listening to from him... and always delivered with a sense of humor!

YOU are an all-around smart guy for thinking of this TF! Congrats... just outdid yourself. ;)

LOL Tesla.... That's cool :]

Sep 11, 2011 - 8:01pm
Sep 11, 2011 - 8:01pm

Great idea!

Excellent idea Turd, and best of luck!!

Since a new thread was started, I'll post this once again:

Not for sure what Asian markets are open today, but here in Seoul it's as quiet as can be. 

By the way, this is my first post, and I can't begin to tell you guys (and gals) how appreciative I am for all of your insight, commentary, videos etc. This place is great!!

I'd also like to share with you something very interesting re: PM's (one that helped wake me up) that I witnessed over here about a year ago. I live in a small rural Korean village, and about a year ago I started noticing a van parked on the side of the main road leading into town with a sign on the side of it that read "buying gold and silver." At that time, I had lived here for almost 13 years and never seen anything like it before. Take it for what it's worth, but I took it as a fairly obvious and ominous sign that "somebody" over here had suddenly become interested in buying as much silver and gold as they could get their hands on... 

Keep up the excellent work Turd and Turdites, and most importantly ~ keep the faith!! :) 


Sep 11, 2011 - 8:08pm
Sep 11, 2011 - 8:09pm

Sell property for bullion?

Hey, I really think that article linked by Jake in the previous thread about a one-time property tax in Greece deserves more attention.

I'm not only a believer that we are approaching the end of the time where Keynesian folly can be papered over and the can endlessly kicked down the road, I'm also believer in the Chris-Martenson type view that there is going to be a confluence of several bad outcomes over the next 10 or 20 years, resource constraints, peak oil, etc etc, that would limit growth EVEN if our world financial system could be sorted out...

Having said that, I've been thinking about property recently. One might imagine that property would maintain value in a high inflation scenario, but if incomes are not rising as fast as fiat money is losing value then property prices will not maintain their value. This is entirely apart from any remaining overpricing left in the property market, i.e. let's assume property is fairly priced at this stage just for argument's sake.

What concerns me is how governments will react. They will not go down without a fight. What happened in Greece is indicative of what I believe will happen all over the world. When corporate profits can't pay governments' bills, when millions are unemployed and economies are shrinking, governments will go after easy targets from which to expropriate wealth. Property owners are going to be easy targets. You can't hide your property, and the mechanisms to tax it are in place.

I rent out my flat for extra income. It's a small furnished apartment in a business area. I used to live there but I found it was more profitable to rent it out and live in a more homely suburb. When things really get bad, it's unlikely tenants will be able to pay me what I want for the property to be as profitable. And if I move back there, I will find my "implied rent" via taxes and mortgage payments to be a lot higher than I previously found.

The potential benefit is that high inflation might pay off my mortgage for me. However, I still am not sure if the property will be a good deal in real value terms at the end of such a scenario.

Point is: Earlier this week I was starting to consider whether I should sell my property and would be better off buying bullion. I wouldn't have much after settling the mortgage, but I look at property and I see much more risk. It's a hassle, but that article on Greece really sets off alarm bells for me...

I also really worry about safety and stability here in South Africa, that's another reason I might want to sell, but I strongly believe the reasons I listed above apply to all of you in other parts of the world. Governments will go after property owners when they can't go after other people. Property owners will become the evil rich who selfishly don't want to share their wealth with the struggling poor (read government). The financial riskiness inherent in owning property is looking much more severe now, whether you are in Vermont, Singapore, Sydney or Johannesburg.

I dunno. Thoughts? Hang on to property for diversification? Sell and get into bullion? All I'm saying is this is something that's concerning me much more.

Sep 11, 2011 - 8:14pm

Mark Steyn and John Lennon !

America was built by people who had to get away from the Socialist Isle ! We'll take all the Mark Steyns we can get ! Monedas 2011 John Lennon admired Ron and Maggie but couldn't go public with it ! He had a lavish Palm Beach villa in escrow when he died ! If the Rolling Stones ever pay off the tax man....they're invited, too ! ....... Monedas is not available for interviews due to his "Turdettes Syndrome" !

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