A Labor of Love from The Golden Jackass

Loading the player ...

Download Podcast (Right Click + 'Save As')

As per tradition here at TFMR, our pal Jim Willie stopped by to celebrate the 3-day holiday weekend of Labor Day in the U.S. You should be sure to carve out some time to give this audio a thorough listen.

I decided to change the format a bit for this show. Instead of a list of questions for The Jackass to answer, I thought it would be fun to just simply give him some general topics and then just let him ride a stream of consciousness to wherever his big brain leads him.

Those three topics could be loosely described as:

  • The Fed/Bonds/Derivatives/NIRP/EU Banks. This is the first 20 minutes or so.
  • The G20 meeting in September/The IMF SDR inclusion of the yuan in October/gold. This evolves over the next 15-20 minutes.
  • International rejection of US treasuries/The future of the dollar/Gold-backed bonds/Gold-backed trade notes. This is the final 25 minutes.

So, anyway, have fun listening. I tried to keep my input to a minimum as most subscribers here at TFMR already know what I think on most of these issues. These podcasts are designed to give you access to what The Jackass thinks, instead.

Enjoy,

TF

307 Comments

murphy's picture

Check this out

This kinda dovetails into what Jim Willie was talking about. Is it really a bankruptcy?

I received this today from a large mail order / internet customer. They are concerned if any of the vendors have goods coming in from Hanjin. 

 

Hanjin Shipping, the world’s seventh largest container line filed for bankruptcy yesterday after its creditors withdrew their support.

 Expect delay of any cargo on a Hanjin Vessel or under a Hanjin Bill of Lading.  A list of direct imports is attached.

 Please be aware that many of your domestic or LDP purchases may be impacted as well.   You should reach out to your vendors to determine if they have any merchandise on a Hanjin vessel.

 An article on Reuters advises:

“Ports including those in Shanghai and Xiamen in China, Valencia, Spain, and Savannah in the U.S. state of Georgia had blocked access to Hanjin ships on concerns they would not be able to pay fees, a company spokeswoman told Reuters.

Another vessel, the Hanjin Rome, was seized in Singapore late on Monday by a creditor, according to court information.”

yukon123's picture

Regarding Golden Jackass Comment Regarding Ports

FYI

http://www.wsj.com/articles/hyundai-ships-take-cargo-delayed-by-rival-hanjins-bankruptcy-protection-filing-1472747412

Article stating that reason why ships aren't delivering goods.  Not because of accepting dollars, but workers/port not getting paid by bankrupt Hanjin.

**Hat tip to above poster for posting/thinking the same**

Safety Dan's picture

Congress Admits "Banks Are

Congress Admits "Banks Are the Top of the Pyramid"

Published on Sep 1, 2016

According to a 1974 Senate report, corporate ownership has virtually taken over control of every major media outlet, energy company and industry. The largest 32 banks have power in combined stocks, shareholder voting, boards and directorships and more... this is an oligarchy.

video is 4:13min

Safety Dan's picture

A Little Slow, But They Are Catching On... Its Paper Gold..

Shanghai Gold Fix Gaps to $9 Higher Than NY/London – This Should Drain the COMEX! – Harvey Organ

http://www.silverdoctors.com/gold/gold-news/harvey-organ-gold-price-new-...

Take a look at the Shanghai fix.  Their early morning fix (our late at night time zone) saw the fix at $1319.72.  The exact NY price at the time was 1310.94 for a difference of almost 9 dollars!
The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price.  This should drain the COMEX…

Safety Dan's picture

Deutsche Boerse Responds To

Deutsche Boerse Responds To Deutsche Bank's Failure To Deliver Physical Gold

Deutsche Boerse Commodities exchange was unwilling to supply further information to Godmode traders whether physical delivery is generally feasible at most bank branches or not. And worst of all, "the exchange was unable to name any bank which is in a position to deliver physical gold without problems."

Baron's conclusion: "the "right" for actual delivery at Xetra-Gold is theoretical: physical delivery is only possible if the respective bank branch also cooperates. Suspicious gold investors should consider Xetra-Gold as another form of paper gold and not as a physical gold investment."

Our take is slightly different: while we already know that physical delivery at Deutsche Bank appears to have been compromised, according to the Deutsche Boerse response, the ability of any and every other bank in Germany to deliver gold is now likewise questionable. Which begs the question: where is all the physical gold?

http://www.zerohedge.com/news/2016-09-01/xetra-golds-responds-deutsche-banks-failure-deliver-physical-gold

AngryCitizen's picture

S Dan: Thomas Jefferson Had It Right

Way back then:

Quotation: "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

Slavery is alive and thriving in the good ol' USA because we "slept, and the watch was abandoned..."

(TLOTR Fellowship of the Ring, JRR Tolkien, master story teller extraodinaire)

crylandjr's picture

Safety dan

Just logged in to post that link. This story might be gaining some legs. Possibly wishful thinking, but you never know!

canary's picture

GLD lost 5.34 tonnes

No change in SLV today.

luvabean's picture

again...with the crushes<3

sheesh...
some fellas' give diamonds and such...
i just like information and underground "eh hems" coughed at inopportune times,
my boys have delivered<3
 as a jackass well versed at not knowing when to hold her tongue....
i delight in those doing it, three steps ahead.
LOVE THESE CRAZY HOLIDAY WEEKENDS!
*love all of you, as well...God bless our families, familiarity and calling<3*
werk to do....i plan on doing it well!

tyberious's picture

Danny B

Credit expansion and the NWO

Various central bankers are printing with wild abandon but, "Of the main central banks the Fed has been largely neutralised even if they manage to add a fresh hike in September or December" Stunning Chart Shows That Central Bank Liquidity Is Now Driving All Asset Prices
Japan is up to the stratosphere; 9/01 Pimco’s Baz says Japan in a bind as total debt tops 600% of GDP – Bloomberg
BUT, "A chart we have shown before: GDP growth is evidently inversely correlated with the extent of credit and money supply expansion. In other words, reality is the exact opposite of what the world’s central planners and their countless claqueurs and courtiers keep asserting."
http://www.acting-man.com/blog/media...per-decade.png
"Depending on how you measured it, the typical white man had lost as much as 40% of his real earnings since the century began. People rubbed their eyes and looked harder; the picture came into sharper and more ghastly focus.

"The U.S. has total credit market debt of about $64 trillion. Even at a super-easy 2%, it means that it costs $1.3 trillion a year to pay the interest. Or, about 7% of GDP.

That leaves the economy in a precarious balance – where it has just enough income to pay expenses. Growth, if you believe the figures, is less than 2%. Now, add just 1% to interest rates. What do you get?"
"Another $650 billion of GDP that must be devoted to interest payments, or more than 1 out of every 10 dollars’ worth. Suddenly, billions – perhaps trillions – of investments, speculations, capital improvements, households, small businesses, and major corporations would be in trouble."
How Does It All End?

Construction spending; The Last 7 Times (Since 1970) This Happened, The US Economy Entered Recession | Zero Hedge

"As I have argued in various articles, the Fed itself may be just as sacrificial to the elites as the U.S. economy. In the process of global centralization, the Fed would eventually have to take a back seat to the IMF, World Bank and the BIS. "
"Be very wary when elites and international financiers mention “global reset,” or a “brave new world,” or a “new world order.” What they are talking about is not a program that is in your best interest. What they are talking about is the deliberate creation of chaos; a slow burning calamity that can be exploited to derive the benefits of even more centralization and even more power."
The Central Banks Are Now Ready To Launch Their 'Brave New World' | Zero Hedge

"39."The Trilateral Commission is intended to be the vehicle for multinational consolidation of the commercial and banking interests by seizing control of the political government of the United States."
"45."The most powerful clique in these (CFR) groups have one objective in common: they want to bring about the surrender of the sovereignty and the national independence of the U.S. "
"119."The environmental crisis is the cornerstone for the New World Order" Maurice strong ( U.N. environmental leader ) was quoted as saying, " Isn't the only hope for the planet that the industrialized civilizations collapse? Isn't it our responsibility to bring that about?"
"125."The ultimate aim of the CFR (Council on Foreign Relations) is to create a one-world socialist system"
http://twoday.net/static/omega/files...s_subjects.htm
So, the crash was planned to bring in world GOV.
"We are not going to achieve a New World Order without paying for it in blood, as well as in words and money."---Arthur Schlesinger, Jr.,

On the "grand chessboard", Pox Americana has crashed. It won't be the West that dictates the new world order.

tyberious's picture

"Nationalism is... First

"Nationalism is... First wave. The globalization of business and finance by advancing Third Wave economies routinely punctures the national "sovereignty" the nationalists hold so dear..." "The Third Wave... demassifies culture, values, and morality... There are more diverse religious belief systems." "The Consitution of the United States needs to be reconsidered and altered... to create a whole new structure of government..." The Tofflers say fundamentalist, biblical Christianity is "both dangerous and regressive." Beliefs in nationalism, patriotism, and an exclusive God, "give birth to violence or repression." Only when these "Dark Age" menaces are swept away can "advanced wealth creation" by the elite be achieved. Newt Gingrich Mason, member of both the World Future Society and the Council on Foreign Relations, wrote the forward to Alvin and Heidi Toffler's Creating a New Civilization .

"No one will enter the New World Order unless he or she will make a pledge to worship Lucifer. No one will enter the New Age unless he will take a Luciferian Initiation." David Spangler, Director of Planetary Initiative, United Nations "

Chilling!

http://twoday.net/static/omega/files/quotes_from_people_who_consider_us_subjects.htm

Edit: These guys are fo'real! Just ask Soros and it looks like Andrew Hoffman is coming around!

http://thedailycoin.org/2016/09/01/andy-hoffman-brexit-ii-coming-on-november-8th-podcast/

Safety Dan's picture

Bonds, Bunds and 10-Year

Bonds, Bunds and 10-Year Notes

Here is a little education on Rollover Gaps.

http://simplerfutures.com/free-sep16-02/?utm_source=SF%20Free%20Newsletter&utm_medium=Button&utm_campaign=sep02

wow, check out this rollover gap on US bonds on this 2:59min video

Safety Dan's picture

Economic Crisis 2016: Oil

Economic Crisis 2016: Oil Companies Go On Auction Blocks, Walmart Laying Off 7000 Employees, Eurozone Set For More Money Printing…

http://investmentwatchblog.com/economic-crisis-2016-oil-companies-go-on-auction-blocks-walmart-laying-off-7000-employees-eurozone-set-for-more-money-printing/

crylandjr's picture

Lots of food for thought

Great interview, worth the ten dollars a month in jackass only!

Interesting with the recent stories about DB what he said about Saudi gold. Wonder what the heck is going on.

I know JW probably doesn't read these comments, so I can say thank you Turd for your patience. I am glad to hear what he has to say, but I can see it could be a challenging interview.

tvend's picture

Bank of America

BAC stock up about 25% since July 1.

If there were notable failures since July 1, somebody forgot to tell the investors about it.

tyberious's picture

BAC stock up about 25% since

BAC stock up about 25% since July 1.

Share buy backs?

Joseph Warren's picture

Re: Check this out

Damned !  I heard those ships were bringing in those great LGBT sweat shirts pictured earlier in this thread.

canary's picture

Just wonder....

Do the Fed members (well...Goons) and the PPT get access to the Wall Street data (like the BLS Unemployment Report tomorrow) at the same time as the general public or they see those numbers before we do....and how much sooner?

I thing it's a totally naive question....But I like to know.

Edit...I like people asking "naive questions".

Marcrward's picture

Instead of Tits for T

Can't we make a Turd?

Joseph Warren's picture

@tyberious - re: Andy Hoffman recording

Thanks for posting that. I've always liked listening to Andy Hoffman. But, IMO, he always had a blind spot regarding 'conspiracies'. It seems that many commentators do this to appear 'respectable'. I've never heard Hoffman use the kind of language he did in this recording. Good deal Andy !  Sounds like you've finally taken the other half of the Red Pill. I look forward to his future statements.

tyberious's picture

Andy Hoffman recording

Andy's reporting is fact based, so I assume that he requires (d) additional facts before he modified or voiced an opinion or comment on "conspiracies".

But I'm glad he's coming around as most of the stuff is true!

Joseph Warren's picture

The Lie We Live

Brett828's picture

Canary

Heard that only 4 people have the BLSBS report ahead of time, but I have a hard time believing that! I know members of congress have access to just about everything. They can trade on info with no threat of prosecution! That's messed up! 

Read Goldman Sachs is predicting 165K jobs out of 180K expected. Please remind me what an idiot I am for getting swept up in the possibility of a low number! I can't do this for 3 months in a row! I think I could be the bad luck guy, so I'm expecting a huge number!

Chiron's picture

$5 Trillion a month?

Did anyone else catch that claim?  $5 Trillion USD a month being printed to cover the "failures"?  This just seems so absurd to claim that.  Is there any proof?  That sum is huge in any time period.  Could this be coming into the "system" from the ESF?  I just can't believe that number.

SteveW's picture

Failures

I heard overnight failures of $100 billion and a total of either 6 or 8. Even 8 @ $100 billion since July won't total $1 trillion.

tyberious's picture

Failures

Let's backtrack? Why are they failing; Loans (Oil and Gas, Corporate, Shipping) Derivatives (Everything;PM's, Commodities, Loans). 

There is Nothing on bank balance sheets that could be considered profitable, not in this economy anyway! 

1 quadrillion or 700 trillion in derivatives, it's a black hole and to every ones amazement, the Fed has printed at least, 30 trillion and we have "only" had 8-10% annual inflation!

So it's like being in a casino, the high rollers borrow and gamble with each other and the small chips guys, never know!

Mickey's picture

jobs

just for the record, August auto sales were down, august auto production was down, august non seasonally adj home closings were down (hat tip Kranzler or was that July) . Retail sales look weak

why should jobs be positive except for the various adjustments

Walmart headed to layoffs, Equitable life laying off.

Who is expanding in any serious number?

and following jobs we have a G20 meeting.

275k jobs is my guess, just because its so absurd they can do it. otherwise they probably want something like 170-220-to give them leeway. that can paint that good enough, or still just a little under what they would like to see.

Then next month before the election they can do 275k cause none of the 96 million not in labor force are ever approached as to their opinion as to whats happening.

I know 3 in their 60's who were riffed and nothing on tap.

canary's picture

@Brett828....Thanks

I never understood why people making and representing the law (Congress members) could be above the law in the first place (immunity)....And that's quite global I think.

As for for the banks....having those giant research departments...sure they try to mimic BIS research and sniff everywhere they can ...to be well prepared.

Anyway....When we wake up...we will know more.wink...And that too shall pass.

Syndicate contentComments for "A Labor of Love from The Golden Jackass"