Two Excellent Videos

Mon, Oct 21, 2013 - 4:59pm

Viewing both of these is time well spent.

I met Dan Ameduri of last year at FreedomFest. He works very hard and runs a great site. This past weekend, he sent over a couple of videos from me to review and I though I would post two of them here for everyone to see.

This first one is an interview of Marin Katusa of Casey Research. This tremendous discussion not only covers some of the usual topics, Dan and Marin spend quite a bit of time discussing something we don't cover much here at TFMR...uranium.

The video is linked below and the full transcript can be found here:

The second video is Dan's interview of Jim Rickards. Again, the transcript can be found here: and the video is embedded below.


About the Author

turd [at] tfmetalsreport [dot] com ()


Oct 23, 2013 - 5:21am


you should watch/rewatch the scene in Star Wars where Obi Wan goes to Yoda and the younglings to ask about his "lost" planet.

Sometimes the answer is so obviously simple that you overlook it.

Ever thought of the possibility that the inventory figures published by SLV are simply not accurate?

Oct 23, 2013 - 1:32am

so far the gold/silver community

hasn't been able decipher what's going on in physical silver market.

how come SLV inventory remains intact given huge demand from india and at mints across the global.

i pointed out silver inventory at shanghai futures exchange dropped 1000 tons.

but what are the other possible silver sources?

come on, all the turdites, please dig into all available sources to figure this out!

Bongo Jim
Oct 23, 2013 - 12:37am

Good luck

They've got MRAPs for a reason, and it's not to get fluffy out of a tree. Somethings a coming, and it aint good.

Oct 22, 2013 - 10:25pm

The militarization of U.S. police forces

Column: The militarization of U.S. police forces

Tue Oct 22, 2013 1:58pm EDT

By Michael Shank and Elizabeth Beavers

This month, more Mine-Resistant Ambush-Protected vehicles (MRAPs) have found their way from the wars in Afghanistan and Iraq to the Main Streets of America. These are just the latest acquisitions in a growing practice by Pentagon that's militarizing America's municipal police forces.

Police departments in Boise and Nampa, Idaho, each acquired an MRAP, as did the force in High Springs, Florida. The offer of war-ready machinery, at practically no cost, has proven hard to resist for local police departments. Increasingly, they are looking like soldiers equipped for battle.

The growing similarity between our domestic police forces and the U.S. military is a result of the Pentagon's 1033 Program. This allows the Defense Department to donate surplus military equipment and weapons to law enforcement agencies. In addition to the frightening presence of paramilitary weapons in American towns, the program has led to rampant fraud and abuse.

It does not have to be this way. Congress can, and must, take decisive steps to scale back the program and demilitarize American police forces. Here's how to do it.

First, Congress should permanently ban the transfer of all military-grade equipment to our cities. The program has already transferred enough impractical machinery to local police forces — material that many police departments do not have the skill to use safely or the money to maintain. Georgia's Cobb County, for example, acquired one AR-15 assault rifle for each of its patrol vehicles, while Tupelo, Mississippi received a helicopter that needed $100,000 worth of upgrades and $20,000 each year in maintenance.

Due to the large amount of missing weapons, the Pentagon has now temporarily suspended new weapons shipments to domestic law enforcement agencies. This is a good step. But it is not enough — especially since the ban is expected to be lifted soon.

Meanwhile, city agencies are still free to transfer weapons to other cities and are still free to receive armored personnel carriers and aircraft from the Pentagon. As the new MRAPs patrolling Iowa and Florida now demonstrate, current limitations do nothing to discourage the militarization of local police.

Second, strict oversight must be implemented and consistently enforced if the Pentagon insists on continuing the program. Congress must step up to manage the program by setting new rules and restrictions. Localities not in full compliance must be barred from participation in the program.

Shocking, almost comical, examples of abuse have been well-documented — from the officer who sold his weapons on eBay, to the one who lent his weapons to unauthorized friends and the police departments that lost the military weapons or tried to auction them off.

Now is the time for our policymakers to demand more from the Defense Department. In order to participate, law enforcement agencies should be able to account for 100 percent of the equipment they receive every year. This should be a no-brainer.

If they cannot, they should be removed from the program. If state coordinators do not verify compliance in person, the states should be removed from the program. And if the Defense Department cannot successfully report full compliance to Congress every year, the program should be suspended.

Receiving free equipment is a privilege for law enforcement — a privilege that so far has not come with any responsibility. It is unacceptable for American police to receive such hazardous weapons and equipment without oversight. It is particularly unacceptable for those who have proven to be incompetent, wasteful or irresponsible with the equipment they have received to remain eligible for more free items.

Ultimately, it is Congress's responsibility to protect its constituents' safety and financial interests, which could be threatened by the program mismanagement.

Unless Americans want their towns patrolled by armored military vehicles, their skies humming with drones, and their local police officers equipped with assault weapons, they should encourage Congress to scale the program back promptly.

Taxpayer money should not have to support the costs of maintaining the weapons of war that local police forces have acquired. Citizens deserve to know that their congressional leaders and law enforcement officers are working together to protect them — not recklessly engaging in a gluttonous arms race or irresponsibly losing dangerous weapons.

Oct 22, 2013 - 10:06pm


Re: Numbers

You wrote:

10+24+2+13 = 49



But, 13 is much more easily and obviously achieved by:

1+2+4+2+1+3 = 13

Either way works...but straight up, 10/24/2013...could be something.

Who knows.

This stuff always seems crazy to talk about ahead of time. Until afterward, then we say...oh yeah, look at that!

It does seem strange they are ALL going though and out of Wash DC. And Zone 3 (Wash DC, etc) had all of the emergency supplies shipped in there. And Big O demanded all domestic forces and trainings be completed by Oct, 1, '13. we are.

I will add that a friend of mine is in the bulk food business and she said that business has quadrupled over the past 10 days. Hmmmm. (Flouride-free) People's intuition antennae picking this up?


Oct 22, 2013 - 9:35pm

Point of No Return

John Embry, business partner of billionaire Eric Sprott and a man who has had his head in the financial markets for 50 years, shares that no matter which way this financial crisis ends, it is going to be a ‘frightening end to all of this”.

John Embry discussed some very strange events that have been occurring in both the gold and silver markets. Is there any way that America can straighten this sinking ship? Dave Morgan and John did a video series days ago discussing the American debt crisis here. The reality here is that once a nation or nations go past a certain point, there is no turning back. You have to either destroy the debt structure, which is a hard-debt deflation, or you destroy the currency by printing more and more until you see a hyperinflationary collapse. There will be no other possible outcome to this scenario other than the horror of what I just described to you. Regardless, one way or another we are looking at a frightening end to all of this. DS: Yes, and the economic crash is just the beginning. After that we have to contend with asteroids, WWIII, biological warfare, and geoweapons.


Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Oct 22, 2013 - 9:32pm

Harvey's Up!

  • Jim Sinclair: My fear is that governments in the US, Britain, and Europe will display similar reflexes as Russia, Argentina, Ireland, Hungary, Poland and cyprus who seized private property without due process. Indeed, the West has already done so.
  • Harvey: GOFO numbers are now mostly in the negative as gold is now extremely scarce as the boys are finding it harder to find physical. Gold is in backwardation from 1 month out to 3 months out. GLD: Gold lost 3.91 tonnes and closed at 878.32 tonnes. SLV: Silver was unchanged and closed at 10,391.35. In India gold premiums are $100/oz.
  • Marc Faber: "The question is not 'tapering', the question is at what point will they increase the asset purchases to say $150 billion, $200 billion, or a trillion dollars a month."
  • Ambrose Evans Pritchard: Bet on Europe's recovery if you want, but remember one thing. The North-South gap at the root of EMU's troubles will be not closed by a return to tolerable growth -- far from assured -- because it will also bring forward the day when Germany demands interest rate rises. The crisis changes shape. It does not go away. Monetary union remains dysfunctional with growth or without growth.
  • John Embry: But that avenue is now gone because of the enormous debt that was created in the subsequent 30-years after Volcker helped save the financial system by hiking interest rates to nearly 20%. Now, you would have a complete and utter collapse of the financial system if something like a ‘Volcker-style’ policy was undertaken. So I would suspect we will go the opposite direction and see ‘QE-to-infinity’ because whenever central planners attempt to withdraw the punch bowl, bad things immediately start to unfold.
  • Siddesh Mayenkar: The shortage of the metal sent Indian gold premiums to more than $100 an ounce over London prices this month when demand far exceeded supply due to the Dussehra festival, one of several connected with harvests.

All this and more on...

The Harvey Report!


Oct 22, 2013 - 8:24pm

Seigniorage and the Bank of

Seigniorage and the Bank of England: How It’s Calculated This article appeared in Prosperity, October 2007 by Conall Boyle It was J K Galbraith who said: “The process by which banks create money is so simple the mind is repelled. Where something so important is involved a deeper mystery seems only decent.” Well, it looks like the folks at the Bank of England (BoE) have done it! What at first seemed to be a simple matter of ‘seigniorage’ – profit made from the production, by the state, of the coins and bank notes of the realm – turns out to be a deeper mystery indeed. Looking at the Annual Report and Accounts from the BoE for 2006 seems to produce a simple answer: On p.110, the Profit on Bank Note Issue remitted to Treasury in 2006 is given as £1,698mn (£1,743 less £45mn expenses). On p.112 in the same Report the Total Note Issue is given as: 2006 £36,914mn 2005 £35,416mn Increase: £1,498mn So its Profit=£1,698mn, Change in Note Issue = £1,498mn. Just a small difference of £200mn, perhaps explainable by some anomalies, like coin issue, or Scottish, Northern Irish or Channel Islands bank note Issue. So in my innocence I asked (in a letter 16th Feb 2007) why the £200mn difference? The reply from the Public Information & Enquiries Group of the BoE (having been passed on from the Monetary and Financial Statistics Section of the Bank who apparently couldn’t answer this: why ever not?) on 16th March was: For the rest of the article

Oct 22, 2013 - 8:03pm

Perhaps this would benefit someone on this site.

The Truth About Central Banking and Business Cycles

Apologies if it has been posted before.

Oct 22, 2013 - 8:02pm

Saudi announces "major shift" away from US

As others here have pointed out the crescendo of rising US isolation is spreading fast, key players and former allies alike now openly shunning the US and announcing their break in stark terms. Not long til the petrodollar is put to rest at this rate, I think it was Jim Willie (not sure) who said watch for Saudi Arabia turning away from the US- this would be the sign that end game is imminent. Still as far as I'm concerned the House of Saud are the biggest snakes in the ME, so no love lost in my view.

"DOHA, Qatar -- Saudi Arabia's intelligence chief has said the kingdom will make a "major shift" in relations with the United States in protest at its perceived inaction over the Syria war and its overtures to Iran, a source close to Saudi policy said on Tuesday.

"Prince Bandar told diplomats that he plans to limit interaction with the U.S.," the source close to Saudi policy said. "This happens after the U.S. failed to take any effective action on Syria and Palestine."

"Relations with the U.S. have been deteriorating for a while, as Saudi feels that the U.S. is growing closer with Iran and the U.S. also failed to support Saudi during the Bahrain uprising."

The source declined to provide more details of Bandar's talks with the diplomats, which took place in the past few days.

But he suggested that the planned change in ties between the energy superpower and its traditional U.S. ally would have wide-ranging consequences, including on arms purchases and oil sales.

Saudi Arabia, the world's biggest oil exporter, ploughs much of its earnings back into U.S. assets. Most of the Saudi central bank's net foreign assets of $690 billion are thought to be denominated in dollars, much of them in U.S. Treasury bonds.

"All options are on the table now, and for sure there will be some impact," the Saudi source said."

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Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

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

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