Thursday Conversation - James Turk


It has been a long time since we've caught up with Mr. Turk....way too long, as a matter of fact. But we correct that issue today with this podcast that contains all sorts of valuable information.

James is currently stuck in London but this has given his first-hand perspective on the current troubles of the LBMA, the CME and their global gold market. Among the items discussed in this podcast:

  • Issues facing The Banks as the year began
  • What took place as spreads blew out on March 24
  • Ongoing signs of physical stress in London
  • The significance of bullion banks quitting the LBMA
  • Why/how the GLD utilizes Bank of England gold for its "inventory"
  • And much, much more.

Many thanks to James for his time today and we promise to have him back on again soon. In the meantime, please be sure to follow James on Twitter @FGMR and you should always try to keep GoldMoney in mind whenever you are in the market for bullion:



May 15, 2020 - 2:49pm

I have a long way to get even

on the silver side.

Gold fine.

Screwed a bit on 2x jnug and nugt, but that was their plan.

May 15, 2020 - 2:43pm

1 infects 153

Not everyone piles into a sweaty heavy breathing mass of humanity!

May 15, 2020 - 2:25pm

SLV calls

Nice, I hope you made money or at least near even. I need SLV at $16.80 before Jan 2021 to recover 2 years of losses. With any luck AG will finally explode this year.

LiberoBen Stackin
May 15, 2020 - 12:07pm

Hey Ben

Royal Nickel in particular is already floating a reverse split. This is a good source for all things Royal Nickel

Ben Stackin
May 15, 2020 - 11:20am

Question for Eric next week...


Can you ask Eric why these Junior and exploration guys don't reverse split their stocks to get the price above $1 or $5 so that the ETF and money market guys can buy them? They look like jokes sitting there at sub-$1 price and people that don't bother to look at the story will dismiss them out of hand because of the price.

Royal Nickel (RNKLF) is a good example. They're going to produce almost 100,000 oz of gold this year, and the stock has a fucking 0 handle, trading below $1 at 37 freaking cents.... They are just hurting themselves by not reverse-splitting and getting the share price up. I understand that splits (either direction) don't create or destroy value just by virtue of the split, but it's party about psychology and partly about the min share price that people will discriminate against buying at.

I'll try and remember to ask you this question next week, closer to Friday, so you don't forget. There must be a reason, but it escapes me.



May 15, 2020 - 10:53am
May 15, 2020 - 10:45am

JDST hit mental stop...tried

JDST hit mental stop...tried to hold on for the 10 or 11 smash...nope. Headed out. Flat. I'll check in Sunday night to see JNUG broke 100....go get em guys, i need a break

May 15, 2020 - 10:39am

Still waiting

I too purchased some gold through Goldmoney and had it stored in the Singapore vault. I redeemed back in late Feb and am still waiting for funds to arrive in my Aust bank account. I've contacted them almost every week since. It's now mid May. They keep telling me my local bank is the problem. The swift code BSB and a/C no is correct. Everytime they email back it's the same. We've fixed it and it should arrive in 5/7 business days. It's not a great deal of $$ but 2 1/2 months is ridiculous. Maybe someone can suggest what I do next. Another reason why the physical is best. Like it's not as if I can hop on a plane to Singapore is it.

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May 15, 2020 - 10:21am

re the 'rona

ONE person infects 153!
If that's the case, then the total population infected...since this has been spreading for several orders of magnitude larger than assumed. Which implies that the overall Mortality Rate is vastly overstated.

— TF Metals Report (@TFMetals) May 15, 2020
May 15, 2020 - 10:13am

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