A Turdless A2A

For your listening pleasure and to pass the time while we watch miners show a bit of strength this morning.

A conversation between two weary metals investors, Pining for the Fiords and Dr. Jerome:

Click here to if the youtube link does not work...

93 Comments

OOOBuck's picture

Super - Thanks DrJ

If it's about miners, I'm liking.

Dr Jerome's picture

No cryptos

Not miners much, per se, Buck, but we stayed away from that there crypto talk.

Pining shared his trading rules too!

Dingo's picture

Bravo fellas.

That was no less than a 5 beer, sorry 5 star, chat. Very enjoyable!

indiana rod's picture

The End of Manipulation

Ted Butler tells how to end the obvious rigging of the silver market by having the enforcement division of the CFTC not allow the banks to add any additional shorts.

The Hunt brothers corner of the silver market, where they controlled 1/6 the amount of silver as J P Morgan, was ended by prohibiting any buying. That worked and bankrupted the Hunts.

So not allowing any new shorts would end the manipulation.

Will it happen?

Somewhere, over the rainbow, blue birds fly.

matt_'s picture

Thanks guys

It was a nice change of pace.  Good job.

NUGTCALL's picture

Dr Jerome

What are you a doctor of?

Dr Jerome's picture

NUGTCALL

Phd in Communication Arts,  expertise is in rhetoric-argumentation, dissertation looked at George Whitefield, the Great Awakening & religious influence on political and war propaganda of the US revolution.

Pining 4 the Fjords's picture

Yes, this is a two-drink podcast!

Thanks, fellas- we had fun doing it! Next time we will record later in the day so the hosts can have a cocktail... poor planning on my part.  For those that might have time to listen this evening, topics include:

Trading metals, a few rules of survival 

Prepping and the 'big picture'

Family and TEOTGKE

TFMR and the community of Turdites

Libero's picture

So miners strongly strong

but gold itself up 12 cents..  Just like the old days when miners led the actual metals.  I'll take a revisit.

RickshawETF's picture

@Pining 4 the Fjords

You had me at "two-drink" . . .

Seriously, that was an excellent podcast and definitely worth everyone's time to listen -- then think about for the next few days.  When new ideas/perspectives are absorbed, they often need to "cure" for a few days to reach full effect.  Tomorrow, I'll re-listen to glean more wisdom at the feet of the masters . . .

I haven't been a Turdvillian (?) long enough to vouch for Craig's integrity when faced with choices that might benefit him personally, at Turdville's expense, so I'll take your word for it.  I do observe a guy who's thoughtful, intelligent, passionate, humorous (not a bad trait to have, these days!), observant, and always entertaining.  The combination of Craig, and the TF community, has seen me through some pretty dark days, investing wise, although I feel the worst is yet to come.  I feel very fortunate to have found fellow travelers along this very long and winding road . . .

Kudos to you and Dr. Jerome!

StevenBHorse's picture

I look forward to listening this evening

I got two cold ones in the fridge waiting for me tonight.

Pining 4 the Fjords's picture

By the way...

Apologies for the "cave-like" audio on my part-  who knew that recording from my bunker, the wall stacks of 400 oz London Good Delivery bars on every side would provide such poor acoustics. Live and learn. ;-)

benque's picture

If a crypto evaporates in the forrest....

...does anybody hear it?

Well, I surmise that the answer is no, cause I ain't seen none of the daily crypto-pumpin here today.

Did you hear about the lazy-ass crypto-freak who was to lazy to do laundry?  He bought himself a pair of crypto-shorts...didn't even have to put them on, cause they were -  like - crypto.  Well, I do believe that he found out yesterday just how effective those shorts were.

I've been laughing my ass off since yesterday, even woke up laughing in the middle of the night.  But, ya know, I'm all depressed because my stack is flat.  Well maybe flat in fiat, but it sure is shiny!

Enjoy the ride bubble-heads.

RickshawETF's picture

Investing

I have nether the will nor inclination to discipline myself to learn enough to avoid trading losses.  I buy.  I hold.  I win or lose.  Some "wins" have been spectacular: I bought $1,000 worth of MSFT the day after Black Monday, in 1987.  Some losses have been equally spectacular.  In 1998, I bought $30,000 worth of excite@home -- I watched it rise to $90,000 and then followed it back down all the way to zero! (I didn't even have the sense to sell when it had lost 66% of its value, and I could have broken even on the trade!).  Ah well . . .

I read Mish Shedlock's article earlier in the week about General Electric, and their $31 billion pension funding shortfall.  What resonated with me was that their pension shortfall was 50% greater than any other company in the United States!  In 2007, GE's pension obligations were $10 billion overfunded.  That is not a good trend!

So, as any clear-headed, reasonable investor who refuses to perform the necessary research and due diligence, but prefers to react emotionally to events as they see them, I lay out the following:

GE's stock closed today at $27.55

GE's stock price low in 2007 was $7.52

If there is a significant "correction" in the market, what is GE's price potential?

Factor in the reduced value of their pension fund, which I assume is invested in equities and bonds, and how is that likely to weigh on GE's stock price?

I don't think it is outside the realm of possibility that GE's stock could drop to the mid-teens.

Today, one can purchase GE Jan 18 2019 Puts with an $18 strike price for around $0.32-$0.36, or roughly 3 contracts (covering 300 shares) for about $100.  Hells bells, I've got $100 worth of vermouth I won't even deign to drink!

GE is basing their pension funding on earning a 7.5% return on that pension fund.  How reasonable is that?  They need to spend $5 billion dollars a year (out of cash flow) just to stay even in the fund.  What are the odds this becomes even more of a problem, going forward?

I see the biggest reason to skip this trade is that investors do not factor this into GE's stock price within the next 18 months.  On the other hand, it's only $100, and I can always drink that vermouth I've got sitting around . . .

MoonShiv's picture

Dr. J/Pining

Nice....Although I did have one cold one while listening; and 

winknice job sucking up to  Ole'Turd wink

I am JOKING....I agree with you guys about Turd's dedication to this community; just the fact that he was/is the only one I know, amongst all the financial guru's in this world that identified and openly stated 'bout the link between USDJPY and the metals' prices. With that kind of ability, Turd could make a killing in one of the big banks.

Anyways, still waiting for the TEOTWAWKI....

lakedweller2's picture

Pining and Dr J

Wonderful interview.  It was good to hear the voices behind the many years of tremendous writing.  Rest assured that you both share the high degree of trust of the members that you both attribute to our leader Craig. Again, a tremendous idea to pass along your personal thoughts about things as you both have experienced them,  and it truly adds to the aura of this site.

JQuest's picture

The Trump Era And The Outlook On Gold’s Performance

- Bill Holter Interview 6-18-2017

TOPICS IN THIS INTERVIEW:
01:50 The Trump era and Gold’s outlook
05:40 Bitcoin’s a rival to Gold or an ally?
07:20 Millennials a threat to the centralized establishment
13:20 Can the President defeat the Deep State?
17:05 How you should secure your wealth safely?
21:20 FED Hike and China
25:50 Credit shuts down the system could crash!

goldcom's picture

Good stuff you two

Your discussion of the timeframe with no financial downturn happening was helpful with very good explanation of the blending in the power of the media that seems to keep the public sedated of any concerns about the mindless QE schemes the CB's continue to play.

We have gone 4 years longer than I could have imagined back in 2013 as we went full bonkers on this . Upcoming concerns for me are worse than usual economic indicators in a very long business cycle, flattening of the yield curve, the debt ceiling, China's participation in the IMF currency basket, the possible Gold Trade Note Russia and China may expand on, and last but not least WWIII. Don't think this pedo thing is done yet either

I do need to put forth more effort to try to normalize my life on a daily basis and not extend so many details to the wife of all the crap, thanks Doc for explaining how you go about that with your wife.

Thanks again guys

argentus maximus's picture

Thanks to both of you for the

Thanks to both of you for the recording.

These conversations are much appreciated.

Ned Braden's picture

Pining, I sympathise

with your plight regarding those damn 400 oz. Good Delivery Bar acoustics . The last one I had my wife used as a door stop....

As a courtesy to you I am happy to hold several for you here at my home on your behalf, until TEOTGKE.....lemme know

Ned

AGXIIK's picture

A REFRESHING PODCAST

From two subscribers who are real people, not gurus with something to sell, an axe to grind or some horror story about the next thing scheduled to go bump in the night

Thanks for taking the time to make this tape

Cheers

Craig

Angry Chef's picture

Did you know that before 1973 it was illegal in the US to profit

...off of health care. The Health Maintenance Organization Act of 1973 passed by Nixon changed everything.

https://thecriticalaye.com/2011/08/31/skyrocketing-health-care-costs-thanks-president-nixon/

Pining 4 the Fjords's picture

Ha! Hey Ned:

I have never seen an LGD bar in my life, but if I had and they were toppling over making a mess in my bunker, I would trust you implicitly to hold onto them for me (for a reasonable storage fee, of course).  Thank you, my friend. 

One of of these days we really need to have a Turdville National Conference or something. I would genuinely love to meet my friends like you, Argentus, Steven B, Ferd, Infomeetron, Etc etc etc.   People I know and consider good friends, though we've not met in person.  Maybe when AG & AU finally reach to their real, natural value (but before all goes to hell) we can time it.  Wouldn't that be something?   

I'll be proud to buy you, AIJ, Benque,  NUGTCALL,   Texas Sandmanan, and a dozen others "the perfect Manhattan".  Till that day, brother...

Noteriety's picture

Macron on Syria

One foot in, one foot out. But any lessened hostility towards Russia by Western countries is a good thing at this point

..."Macron says French policy towards Syria is now more aligned with Russian objectives in the country. “My lines are clear: Firstly, a complete fight against all the terrorist groups. They are our enemies,” he said. “We need everybody’s cooperation, especially Russia, to eradicate them.”

Macron said he will not allow US “neo-conservatism” to seep into France, and that the focus of French policy will be aimed at achieving “stability” in Syria, rather than getting dragged into a Libya-style conflict."...

https://www.rt.com/news/393518-france-macron-syria-policy/

mike97's picture

Morgan Report - MGG

Thanks Pining and Dr Jerome - great discussion

On the miners. I have been accumulating a penny stock over the last few months called Minauram gold (MGG on the TSX Venture). Today I noticed that the Morgan Report has featured a major buy recommendation on this stock. Recommend you all readdevil, buy the stock and drive the price up. http://www.themorganreport.com/pdf/MorganReportfinalMGGJune2017.pdf

streber's picture

Excellent vid on "Confiscation" of PMs (it will never happen!)

Exposes the fake bogeyman of PM confiscation.
Hmmm... Wonder why the "PM confiscation" fear meme even has legs. Hmmm.
First off, "they" are confiscating wealth constantly with currency cheapening.
The Gov can confiscate anything, your 401k, your bank account, even your life, etc.

From the visuals I'm guessing vid was done in 2012, right at the PM peak.
$2o Saints he valued at $1700 each.
Prolly created an impetus for many to buy in at a top, not the top.
There never will be a final top.

I too am boggled that the fiscal day of reckoning has been postponed 5, 6 years now.
Perhaps a review of Edward Bernays might be of help to your knowledge library.

A fine discussion that covers many bases.

14 min

JQuest's picture

Why the Air Is About to Come Out of America's Bubble Economy

- Peter Schiff

Excellent Cambridge House on stage presentation covering the US economy.

Marcrward's picture

watching the fiat comex digits makes your brain dead

anti-crypto turdites seem to be proof of this as they certainly don't understand/recognize simple math.

Maybe turdites should realize these exchanges can show whatever price they want...

Didn't anyone see my post three weeks ago about when Bitcoin dropped to 1913.97??

probably not, but ETH and LTC were $120.00 and $20.00 at the same exact time. 

CME Group sure does it, continuously...

oh, but you all think its actual traders dictating the price of your precious.

if you pulled your head out of your ass, you would realize the power decentralized cryptographically secure currencies provide to the individual.

Afterall, we could do an ICO for turdville rather easily, buy a town and go from there, 

but no, you all rather sit on your ass and wait for someone to do something to save your ass from the debt slavery you were born into.
 

actually my crypto portfolio had a positive day yesterday... increased my bitcoin stack.

Here is my current portfolio of the fiat cryptos... (yes, these blockchains came from nothing, they are fiat)

but looking a whole lot better than DEBT CURRENCY.

Oh, and this is all valued in BTC, no debt currency needed in this calculation.

don't worry, I have kilos of silver per BTC.

BTC Bitcoin 20.395% 

DASH Dash 16.895% 

ETH Ethereum 14.118%

MUE MonetaryUnit 11.763%

PIVX Pivx 9.719%

LTC Litecoin 4.569%

DGB DigiByte 3.785%

XEM NEM 3.452%

XMR Monero 2.697%

ZEC Zcash 2.202%

HMQ Humaniq 1.721%

BLOCK BlockNet 1.687%

DCR Decred 1.608%

SC Siacoin 1.529%

CLOAK CloakCoin 1.519%

XZC ZCoin 0.799%

IFC InfiniteCoin 0.578%

BCN ByteCoin 0.496%

BTM Bitmark 0.236%

PEPE PepeCoin 0.202%

SKY Skycoin 0.028%

DOGE Dogecoin 0.003%

RickshawETF's picture

Gold Coins

Having listened to the Andy Schectman interview on The Financial Survival Network, one thing he said really perked up my ears.  It was something to the effect that numismatics -- specifically the $20 Liberty Gold Double Eagles -- were selling for the same price as current U.S. Gold Eagle coins.  Think about that for a minute . . .

Here's a coin, no longer minted, that stopped production in 1907, selling for zero premium over a currently minted AGE!  A graded coin in uncirculated condition, over 100 years old (and specifically exempted from the gold confiscation act of 1933), selling without a premium to an AGE.  In actual fact, checking Apmex an hour ago, the $20 Liberty Gold Double Eagle, graded MS-62, actually sold for less than the AGE!

Andy remarked that in the past, graded $20 Liberty Gold Double Eagles usually sell for between a 50% and 100% premium to spot gold!  Sounds like a deal to me . . .

AIJ's picture

Marcrward

Great list....I'm jealous...

Check this out....MIT / Litcoin Project reveled August 1st.

http://www.livebitcoinnews.com/mit-will-unveil-litecoin-oriented-project-august-1st/

( hint: you might want to pick up a little Litecoin......)

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