Reposting This Excellent Video

130
Wed, Dec 16, 2015 - 10:21am

We first posted this video from John Titus back on September 16, just days before the most recent FOMC when The Fed was expected to "raise interest rates". No time like the present to post it again and we implore you to take the time to watch it.

In the 90 days since, we've gotten to know John a little bit and we've even had him in for an A2A webinar. That show is public, too, and I encourage you to listen when you have the time: https://www.tfmetalsreport.com/podcast/7227/a2a-john-titus

Financial media seem certain that Mother Fellen is going to raise the Fed Funds rate later today, perhaps by 25 basis points. So why is Mother so hell-bent on raising rates RIGHT NOW, even though all of the economic data is still awful? After all, we've stated for years that The Fed can't and won't raise rates. Remember, though, we've also told you countless times that "the FOMC/Fed will do whatever they deem is in the best interest of their (TBTF) member banks"? In this case, it's all about the excess reserves as described in John's video.

  • Mother can't eliminate the interest on excess reserves that The Bernank started paying in 2009. Recall the hissy fit Jamie Dimon threw at the mere mention of an excess reserve interest rate cut a few months back?
  • But Mother also can't force The Banks to lend nor can she force the banks to reverse repo the cash back to The Fed.

Therefore, she's considering raising rates by 25 bps. Why?

All of this is sort of what David Stockman discusses here: https://davidstockmanscontracorner.com/december-16-2015-when-the-end-of-the-bubble-begins/

The bet is that the "economy" can withstand higher rates and the flattened yield curve that usually foreshadows recession. Again, this is all uncharted territory, thanks to the criminal Bernank. Mother has NO IDEA of whether this will work. Perhaps, she'll hesitate again later today out of fear and uncertainty. We'll know soon enough.

Regardless of whether she does or doesn't, my plans aren't changing as I continue to add and stack physical precious metal. 2016 looms as a volatile and uncertain year. The news later today will only serve to raise the stakes.

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  130 Comments

Dec 16, 2015 - 1:10pm

With the USDJPY trending back to even on the day...

Keep in mind what happened to the "markets" after the September fedlines with no rate change.

The USDJPY immediately plunged, taking the S&P with it. However, it was clear that a plan had been hatched for the BoJ to pump the USDJPY back up if the selling got out of control. This is exactly what happened next and the "market", which had fallen over 250 Dow points, quickly reversed and moved 500 points higher to +250.

canary
Dec 16, 2015 - 1:10pm
dantonov81
Dec 16, 2015 - 1:13pm

Fed announcement live?

Where is the fed announcement going to be broadcasted live?Any links? Thanks

sander25nl
Dec 16, 2015 - 1:15pm
dantonov81
Dec 16, 2015 - 1:16pm

try this

lakedweller2
Dec 16, 2015 - 1:21pm

@tf

Positive call balance appears good news based on insider trading the general public is not privy to. Let's see if it is a good indicator of direction.

Dec 16, 2015 - 1:21pm

Gold and silver wrapping up

Gold and silver wrapping up the Comex session near their highs of the day. Where will they be when the Globex closes at 5:15? Any guesses?

Lintltj5
Dec 16, 2015 - 1:21pm

For Funsies....

The bonus question for my High School boys economics/social studies class today was "will Janet Yellen and the Fed raise interest rates today at 2:00?".

They and I are waiting with bated breath. 5 bonus points on the line for the winners.

I dont think there is any way to survive this crap without keeping a sense of humor.

J Siefert
Dec 16, 2015 - 1:26pm
nadgeskaul
Dec 16, 2015 - 1:26pm

Guess?

Right back to where they were at 0700CT.

This is a protective bounce.

If not, any fundamental reason silver should be up 3.5%? Short-spec driven hysteria?

Subscribe or login to read all comments.

Contribute

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 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Recent Comments

Forum Discussion

by AGXIIK, Oct 20, 2019 - 5:58pm
by SteveW, Oct 20, 2019 - 4:09pm
by Solsson, Oct 20, 2019 - 12:30pm
by sierra skier, Oct 20, 2019 - 11:30am
by Green Lantern, Oct 20, 2019 - 8:17am