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Thursday Conversation - Dave Kranzler


In this unprecedented and volatile time, it's difficult to have a dispassionate and rational discussion regarding the markets. So if you're looking for one...THIS ISN'T IT!

Actually, I'm only kidding. This podcast, recorded just a few hours ago, should prove to be an excellent use of your time. Over the course of a half hour or so, Dave and I discuss:

  • the mining shares and precious metals...and what the ferocity of the selloff is indicating
  • the potential size and scope of this worsening global financial crisis
  • how the global central banks will respond
  • the recent history of precious metal and mining share outperformance once the immediate crisis passes and rational thought returns

We tried to keep this brief so that the length of the podcast wouldn't dissuade anyone from listening. And though this is a very serious subject, Dave and I were able to find a few of the laughs that usually pervade our discussions. So, please try to give this podcast a thorough listen when you can spare the time.



Mar 12, 2020 - 2:54pm

a daily podcast later today?

Not planning to record one at this time. Why?

  1. I really want everyone to focus on this podcast today
  2. Not sure what more I can add at this moment

But skim the comments section. After the close, I'll add some charts and observations. However, for now at least, I'm not planning to record the usual daily podcast.

Mar 12, 2020 - 3:02pm

one thing Dave and I didn't discuss

The possibility and/or likelihood that the NYSE et al go on market holiday. This is NOT unprecedented as we saw this action taken after 9/11.

I covered this with Cory at KE Report today and will add that audio once it's available.

Mar 12, 2020 - 3:10pm

here you go

I hope that most of you have heeded the warnings we've posted for weeks about NOT ending up a part of this line.

Hundreds lining up outside Los Angeles-area Costco amid coronavirus panic


— Breaking911 (@Breaking911) March 12, 2020
Mar 12, 2020 - 3:12pm

A rephrase of my Ron White Rules of Fight Club

Ron White rule

Rule 1 Don't talk about Fight Club

Rule 2 If you don't how many they will bring to the fight, know this. They will bring enough

Ron Powell Rules of Fight Club

Rule 1 Don't talk about REPO

Rule 2 If you don't know how much they will bring to REPO, know this. They will bring enough

Until it's not enough

$50 trillion will not be enough.

$100 trillion might be enough

Hey where is everyone? At Costco getting beans, rice and water?


Dr. P. Metals
Mar 12, 2020 - 3:14pm

A Good Name

A good name is to be more desired than great wealth, Favor is better than silver and gold. Pro 22:1

Mar 12, 2020 - 3:15pm


Panic at the Fed. To put the panic into context $1.5 trln in repo operations is larger than QE1 and 2 and just a hair less than QE3...

— Michael Lebowitz, CFA (@michaellebowitz) March 12, 2020
Mar 12, 2020 - 3:16pm

Now They Have Done It

All time low in my miners over the last 10 years. I will be glad when all the sociopaths go to jail.

Mar 12, 2020 - 3:17pm

US dollar is acting like a safe haven today

Gold is not...looks weak and vulnerable. Hard to believe that it was a safe haven for 9000 years. Though back then people didn't have algos and insane leverage.

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Mar 12, 2020 - 3:21pm

The one thing I wish this

The one thing I wish this site had more of at a time like this was weak handed investors crying jump ship. Not that I would have listened because like many, we have become so hardened over the past 8 years to endure beat downs of 20 percent as if it was just another day at work. 52-week highs to near 52-week lows in two weeks is mind boggling. We're not deer in the headlights because most of us would not have sold anyway given the beliefs we have of where PMs should be. Unlike stockroachers that were near ATHs, aside from gold itself nothing in PM land was anywhere close to an ATH.

Mar 12, 2020 - 3:22pm

just like yesterday

Bond futures being liquidated, too.

Selling = lower prices = higher yields

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Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
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Key Economic Events Week of 3/9

(as if these actually matter)
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Key Economic Events Week of 3/2

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Key Economic Events Week of 2/24

2/25 9:00 ET Case-Shiller home prices
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Key Economic Events Week of 2/17

2/18 8:30 ET Empire St Manu Idx
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2/19 2:00 ET January FOMC minutes
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Key Economic Events Week of 2/3

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1/28 8:30 ET Durable Goods
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1/17 9:15 Et Cap Ute and Ind Prod

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