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Thursday Conversation - Danielle DiMartino Booth

You should be sure to listen to this free public podcast.

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Danielle DiMartino Booth is a former advisor at the Federal Reserve Bank of Dallas. This experience gives her a unique perspective on the moves of the global central banks in 2019. Thus, you should be certain to carve out some time for this podcast.

Over the course of this call, I asked Danielle to address three key themes:

  1. Why, in late 2018, did The Fed suddenly reverse their policy of Fed Funds rate hikes and Quantitative Tightening?
  2. What, if anything, is the recent action in the bond market telling us about the current situation and the future of interest rate policy?
  3. Is the next move by the FOMC a rate cut or a renewal of rate hikes?

It was a great pleasure to speak with Danielle today and I'm grateful that she could spare the time. Please be sure to check out her website and subscription services here: https://quillintelligence.com

You should also begin to follow her on Twitter at: https://twitter.com/DiMartinoBooth

Thanks for listening,

TF

  28 Comments

Belladonna
Apr 18, 2019 - 3:33pm
canary
Apr 18, 2019 - 3:57pm

Total surprise to me...

I've been paying attention to her comments for quite sometime....If there is a female economist I could walk my wee doggies with, she would be the one....She is a smart, smart cookie.

Ronnie 666
Apr 18, 2019 - 4:00pm

Over the clowns at the Fed I will take anything

Gold Silver Pt or Pd they all seem fantastic as compared to the Fed’s lack of policy and direction. Not a smart move Powell your policy is just string it along a little further and hope to God there is someone else in charge when this blows. Read Irwin Schiff’s book the Federal Mafia.

canary
Apr 18, 2019 - 4:13pm

If Danielle DiMartino looked at my miners 10 years trading...

Wonder, what would she think about me?

She'd likely say: Your doggies are way too smart for you.


Apr 18, 2019 - 4:27pm

HUI update

Not good.

Now down 10% in a month and has fallen out of the channel. The only hope is that, come Monday, it will immediately reverse and move back into the channel as it did in November.

brolgaboy
Apr 18, 2019 - 4:55pm

HUI

or at least at the 200dma which is just 3 points lower

canary
Apr 18, 2019 - 5:18pm

Very suspicious trading of USD today...

Somebody was driven to see it above 97 for the holiday weekend?

https://finviz.com/futures_charts.ashx?t=DX&p=m5

eastofwest
Apr 18, 2019 - 5:34pm

HUI ...

Many miners are trading below their down trending 200 day ...

scoremore
Apr 18, 2019 - 6:32pm

Great day for Pt and Pd!

Just trying to keep it positive.

Pt broke above 900 again to $907.40 and Pd broke above 1,400 to $1,409.35.

Platinum up 1.81% & Palladium up 2.23% for day!

Pd up 5.2% for 1 week!

goldcom
Apr 18, 2019 - 6:58pm

The thing about Danielle

Not long ago on I believe it was a Greg Hunter interview Danielle made a point it was a mistake people might question the Fed, that it was,"We the Peoples Fed". Technically I suppose she is correct because the Fed was created by The Federal Reserve Act(which has questionable credibility) and I'm sure there is plenty of BS documentary evidence but they sure as f#ck aren't for the benefit of We the People.

Ronnie 666
Apr 18, 2019 - 7:40pm

Danielle @goldcom

From all her interviews she is a great supporter of Powell. Smartest, intellectually honest and fair, Fed Chair ever. That is where we part ways. The Fed and all its subsidiaries world wide are no different to the Mafia. Irwin Shiff's book the Federal Mafia was the second book to be banned in the USA? The first book to be banned was Fanny Hill, Memoirs of a Woman of Pleasure published in 1748 . That fact speaks volumes of this criminal gang of thugs or to quote our leader, Goons. I have no trust in that organization or those who support its leader.

AGXIIK
Apr 18, 2019 - 8:16pm

It's a very good chance that DDM has a strong handle on what is

going on at the Fed

I look back to 2008-9 and shortly thereafter when the Fed issued its lines and cash to the tune of $25 trillion; 16 trillion to the US banks and 9 trillion to the foreign banks to bail them out and prevent a credit market from seizing up and liquidity melt down.

These banks hid their problems, papered over their negative net worth balance sheets and loan these funds out to anyone who made the case they needed a loan. Fast forward 9 years and here we are. $250 trillion in world wide debt

2/3 of the world's population lives in emerging markets, extremely vulnerable to rising dollar and depreciating local currencies. They have to pay back in dollars and are TACFU. Over 60% of the world's GDP is emerging markets with tens of trillions in new and old debt which needs to be renewed or paid

FUBAR

Harley
Apr 18, 2019 - 8:37pm

Thanks Turd!

Thanks for bringing Danielle on TFMR! Very informative and interesting!

brolgaboy
Apr 18, 2019 - 8:44pm

Meanwhile

GDXJ down seven days in a row. First since 2013. Wasn’t someone here talking about 2013 recently?

canary
Apr 18, 2019 - 9:55pm

People can look alike....and be so different

My girlfriend looks a little like Danielle...but she wouldn't be able to comprehend a single thing Danielle said...On the positive side, she can dance, often non-stop.

I'm not sure what I like more...clearly, can't have both.

Enjoy your holiday.

lakedweller2
Apr 18, 2019 - 10:38pm

Canay

I don’t know what to say to that other than I hope you like to dance.

brolgaboy
Apr 18, 2019 - 10:46pm

rock on Turd

I got deleted.

canary lakedweller2
Apr 19, 2019 - 12:28am

I looked today at some of the Pilbara stocks...

Novo, DeGrey, Pacton, Pioneer, Kairos....Looks like investors giving up on them, that money will work better somewhere else.

I just doubled my Novo position....What do you you think?

As for dancing...I like it, but not non-stop...taking longer brakes for a drink is my favorable excuse.

brolgaboy
Apr 19, 2019 - 3:05am

for gosh sakes

Turd apologies for the post man but geez I have been around for awhile and like dude It was not unlike the way you talk. I think I am going to just go away and cry now. My feelings are tender.

FFS

brolgaboy
Apr 19, 2019 - 3:08am

and....

and now back to the metals..... god damn it that makes me want to cry even more. Boo f’in hooooooooooo

lakedweller2
Apr 19, 2019 - 9:16am

Other Than Novo

When Novo did its initial pop, the Pilbara stocks jumped some but not like Novo. Since then, they have all had difficulty proving the g/t as traditional drill methods haven’t worked with conglomerates. In order to get mining permits they have to show potential quality and amount of resource. They are in a form of catch 22 as they now believe that trial mining and advanced sorting methods will be the best predictor of future potential production...but they need the permits to do the mining to prove what they need for the permits.

Other problems are that the Australian markets seem to have a lot of participants that have a penny mentality rather than a dollar. Small penny moves are met with volume reactions up and down. In the US markets, there seems to be a lot of end of day painting the tape. Any daily movements up either are removed end of day or knocked back down in a short period.

The Degrey halt last week is a good example where they announced a halt, price jumped up in the US during the Australian Halt, news came out with decent drill results and the US stock smashed back.

No gain and status quo. As a result, status quo seems to be the theme, but Hennigh keeps working toward novel ways to show resource. He may have to show that through Beatons Creek or Egina where permitting is in a more advanced stages. In the meantime, Sell the News in the US seems to be the pattern that is dominating miner prices. The “Uptick Rule” needs to be restored and corruption in markets throttled back. During favorable PM markets (whatever those are) , the Pilbara may move with the rest. It just says to me that worldwide markets are a part of the same manipulated and unregulated system that favor insiders and only vary by degree. My guess is that the Barrick’s, backed by big money, want miners at a low price (oil companies also in the oil world) for future acquisition when the commodities can no longer be suppressed. Corruption seeks bargain prices but don’t want to rely on market behavior.

AGXIIK
Apr 19, 2019 - 9:39am

brolaboy You are an incredibly rude, uncaring and

ignorant jackass And you show your callous manner on 3 levels

Your rancid comments that Craig deleted were inappropriate and completely uncalled for. His interview with Martino was sharp and incisive with a lot of quality information for us to review. Basically, you defiled his interview with your comments

Craig just lost his mom after a long illness and spend last week tending to the very emotional tasks that fall to family members when a loved one passes. Apparently that didn't slow you down in your nastiness.

This is Good Friday, one of the most important holy days in Craig's faith. That you won't relent in your juvenile natterings since he removed your post speaks volumes to your true nature, lack of character and unthinking insensitive persona

Maybe Craig is more forgiving than me. I'd have banned you in a New York second and scrubbed every comment you've made to date.

Craig

lakedweller2
Apr 19, 2019 - 9:47am

AGXIIK

Civility is always a more mature approach to conversation. Good comments.
Libero
Apr 19, 2019 - 10:24am

Kinda happy Royal Nickel popped

It was suppressed due to a new offering which is now complete.

https://finance.yahoo.com/news/rnc-minerals-closes-12-million-123300246....

Happy Easter and Passover to all.

zenharmonics
Apr 19, 2019 - 6:22pm

Daily Feather

Other than her grand use of metaphors , skilled talents, and expertise with the Daily Feather, I am surprised she is open enough to grant an interview with PM enthusiasts, which speaks for her integrity. For me, her letter is good for forecasting what the Fed is up too, be it industrial production, wages, retail sales, Beige Book, whatever. She knows the Fed data, and if you can read between the lines you might make a good trade. I asked her at the NO Conference two years ago, why does the CME/COMEX have discounted volume trading accounts in the commodities markets for central banks? She could not fathom that could be the case.

matt_
Apr 20, 2019 - 4:03am

She pointed out something you never hear on CNBC

When she noted auto sales growth is based on nominal dollars, not units sold, I said: Amen!

Any sales figure (including the GDP) can be made to grow by price inflation alone. It is like measuring your height using a measuring stick that gets smaller each year.

hindsight101
Apr 21, 2019 - 7:35pm

Commitment of Traders

https://www.cftc.gov/dea/futures/other_sf.htm

Big swings this last reporting week with the Silver Swap Dealers now long and the Silver managed money short....

51,000 contract shift my the managed money less bullish...in gold....

This is pretty encouraging....suspect we'll hear more about it come Monday..

hindsight101 AGXIIK
Apr 21, 2019 - 7:37pm

AGXIIK

Following your comments above, glad there isn't a holiday every week....

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