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Turd on with Elijah Johnson

12
Sat, Feb 28, 2015 - 2:08pm

Last week, Elijah Johnson and I took some time to discuss a variety of current events around the globe.

Elijah likes to break these into two parts and they are both below. Some of the topics covered:

  • the recently announced gold manipulation investigations
  • the impacts of inflation and deflation on the gold price
  • the situation in Greece and a possible Greek exit from the euro
  • Russia and Ukraine Crisis and the impact upon TEOTGKE

Fwiw,

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  12 Comments

Leaf Nation · Feb 28, 2015 - 2:24pm

smileyFirst...lol

50-50 for the day

Silver66

Edit: those pictures look like graduation pictures

Valerie Worley · Feb 28, 2015 - 3:00pm

I think Turd looks more suave with his Sunglasses on like James Bond. 

Valerie Worley · Feb 28, 2015 - 3:00pm

2nd!

Marchas45 · Feb 28, 2015 - 4:13pm

I posted in the wrong thread thinking it was this one. Lol

Andreas Johns · Feb 28, 2015 - 6:05pm

This is an under appreciated story previously posted. India wants to use Gold in their banking system that gains interest and produce a new Indian coin. Finance minister mentions India has about 20,000 tons in country! Hmmm.

The You-tube video starts in the Indian language but then goes English at 25 seconds.

Could be the beginning of the move away from fiat.

Video unavailable
James Tetreault · Feb 28, 2015 - 6:24pm

I'm a huge baseball fan and there's a guy named Bill James who writes about baseball and invented a lot of analysis and statistics about baseball effectively creating his own career from no known pre-existing template. 

I love that sort of thing. Elijah Johnson has done the same thing and I suppose Turd to a lesser degree.

Mr. Fix · Feb 28, 2015 - 9:02pm

I agree with your observations that the new investigations are nothing but a farce, and will have zero impact on anything, other than to buy time. The markets themselves are a complete fraud.

 One area in which we may differ, is when you said “they need to have at least some physical to maintain their paper price”. To that, I ask why?

 When I started playing with gold and silver, back in 2008, it was widely accepted that there was approximately 100 paper promises for each ounce. After watching the “paper pushing” games, who could think that that ratio is still true? Could it now be 500 to 1? 1000 to one? 10,001 to 1? Why not go to 1 trillion to one?

 If you get my point, in a paper system that can allow a couple of quadrillion dollars in derivative paper debt, why would we think there is a limit to how much “paper gold and silver” can be printed?

 There are no markets, even the perception of one is just a circle jerk of subsidiaries passing worthless paper to each other to create the illusion of a market.

 Supplying gold eagles to the populace is a trivial price to pay for such a massive fraud scheme to be maintained.

 In actuality, we have no freaking idea if there is any gold at all in the West, except what you can buy online, or at the local coin dealer.

 Even reports of massive quantities passing from West to East sound great, but are just as unprovable.

 It will be entirely in the hands of Russia or China to start offering substantially more to add to their stacks at some point, but they might as well vacuum the rest of the planet dry at these prices.

 As for the Greek “elections”, I've been telling you for years, “if elections mattered at all they would be illegal”.

 The Ukraine crisis is pure theater at this point, and fortunately, everyone involved knows it.

 The only entity involved that is purely suicidal is America, and the rest of the world does not want to play.

 With the absence of anyone to fight, there will be no World War III, regardless of what Obama wants.

 I enjoyed the show as always, your advice on preparations, particularly regarding family and friends was wise to a point,

 but they've all been warned.

When the store shelves are all empty, and they come to my house for provisions, they will be asked exactly once to leave, if they refuse, they will be shot. Fortunately, I do have friends in my own neighborhood who are also very well stocked, and very well armed. With them, I can always barter.

 I've only provided for myself and my family, the rest of the world can take care of itself.

 Keep stacking.

info metron · Feb 28, 2015 - 9:37pm

Thanks for posting the video! Here is the associated text:

**************

India is one of the largest consumers of gold in the world and imports as much as 800-1000 tonnes of gold each year. Though stocks of gold in India are estimated to be over 20,000 tonnes, mostly this gold is neither traded, nor monetized. I propose to:

(i) Introduce a Gold Monetisation Scheme,which will replace both the present Gold Deposit and Gold metal Loan Schemes. The new scheme will allow the depositors of gold to earn interest in their metal accounts and the jewelers to obtain loans in their metal account. Banks/other dealers would also be able to monetize this gold.

(ii) Also develop an alternate financial asset, a Sovereign Gold Bond, as an alternative to purchasing metal gold. The Bonds will carry a fixed rate of interest, and also be redeemable in cash in terms of the face value of the gold, at the time of redemption by the holder of the Bond.

(iii) Commence work on devel oping an Indian Gold Coin, which will carry the Ashok Chakra on its face. Such an Indian Gold Coin would help reduce the demand for coins minted outside India and also help to recycle the gold available in the country.

************

Regarding: Point (i), sounds like a way for the banks to get their grubby little rehypothecating hands on Indian gold to continue to suppress the price of gold; Point (ii), another 'paper gold' scheme wherein it would be in the bond issuers best interest for the price of gold to remain suppressed; Point (iii), this is what the Ashok Chakra looks like (a depiction of the "Wheel of Dharma" i.e., depicting behaviors that are deemed to be in accord with cosmic law and universal order)

Clearly an attempt to reduce the amounts of gold imported into the country.

I don't see anything at all for goldbugs to celebrate here. Mostly negative as I see it.

Banksters, stockroaches and bondbeetles might be eating it up though!

Edit: here is the text of the complete budget speech: https://www.hindustantimes.com/Images/popup/2015/2/gbEngSpeech.pdf

mac · Mar 1, 2015 - 8:41am

...correct that India budget not reducing tax is not positive for gold, but the dealers in India have backed off awaiting the 'news' about the tax in the new budget. Now they must re-stock! They waited, they gambled, and now....

lakedweller2 · Mar 1, 2015 - 9:40am

POTUS promised them a trip to Dismey World.

jeff · Mar 3, 2015 - 1:11pm

I like "the kid".

Elijah has a bit of a stilted interview style, but he asks good questions and knows when to get out of the way.

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