Thursday Conversation - James Turk

68

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: https://www.goldmoney.com

TF

  68 Comments

  Refresh
MickeySteveW
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.

SteveWTF
May 15, 2020 - 2:43pm

1 infects 153

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

SteveWMickey
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 https://ceo.ca/rnx

Ben Stackin
May 15, 2020 - 11:20am

Question for Eric next week...

Craig,

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.

thanks

BS

streber
May 15, 2020 - 10:53am
tonym9
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

bilambiljet
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.

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

May 15, 2020 - 10:21am

re the 'rona

@DrEricDing
ONE person infects 153!
If that's the case, then the total population infected...since this has been spreading for months...is several orders of magnitude larger than assumed. Which implies that the overall Mortality Rate is vastly overstated.https://t.co/ufQhLvtv7f

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

Subscribe or login to read all comments.

Become member and subscribe to Turd's Vault

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 1/11

1/11 12:00 ET Goon Bostic speech
1/12 10:00 ET JOLTS job openings
1/13 8:30 ET CPI
1/13 1:00 ET Goon Brainard speech
1/13 2:00 ET Beige Book
1/14 8:30 ET Import price index
1/14 12:30 ET Chief Goon Powell
1/15 8:30 ET Retail Sales
1/15 8:30 ET PPI
1/15 9:15 ET Cap Ute and Ind Prod
1/15 10:00 ET Business Inventories

Key Economic Events Week of 1/4

1/4 9:45 ET Markit manu PMI
1/4 10:00 ET Construction Spending
1/5 Georgia U.S. Senate election
1/5 10:00 ET ISM manu PMI
1/6 US election certification
1/6 8:15 ET ADP Employment Report
1/6 9:45 ET Markit service PMI
1/6 10:00 ET Factory Orders
1/6 2:00 ET December FOMC minutes
1/7 8:30 ET Trade Deficit
1/7 10:00 ET ISM service PMI
1/8 8:30 ET BLSBS
1/8 8:30 ET Wholesale Inventories

Key Economic Events Week of 12/21

12/21 8:30 ET Chicago Fed
12/22 8:30 ET Q3 GDP final guess
12/22 10:00 ET Consumer Confidence
12/23 8:30 ET Durable Goods
12/23 8:30 ET Personal Inc and Spending
12/23 8:30 ET Core Inflation

Key Economic Events Week of 12/14

12/15 8:30 ET Import Price Index
12/15 8:30 ET Empire State Index
12/15 9:15 ET Cap Ute and Ind Prod
12/16 8:30 ET Retail Sales
12/16 9:45 ET Markit flash PMIs Dec
12/16 10:00 ET Business Inventories
12/16 2:00 ET FOMC Fedlines
12/16 2:30 ET Chief Goon Powell presser
12/17 8:30 ET Philly Fed
12/18 8:30 ET Current Account Deficit
12/18 10:00 ET LEIII

Key Economic Events Week of 12/7

12/8 8:30 ET Productivity & Unit Labor Costs
12/9 10:00 ET JOLTS jop openings
12/9 10:00 ET Wholesale Inventories
12/10 8:30 ET CPI
12/11 8:30 ET PPI

Key Economic Events Week of 11/30

11/30 9:45 ET Chicago PMI
12/1 9:45 ET Markit Manu PMI Nov
12/1 10:00 ET ISM Manu PMI Nov
12/2 8:15 ET ADP Employment Report
12/3 9:45 ET Markit Services PMI Nov
12/3 10:00 ET ISM Services PMI Nov
12/4 8:30 ET BLSBS
12/4 8:30 ET US Trade Deficit Nov
12/4 10:00 ET Factory Orders

Key Economic Events Week of 11/23

11/23 9:45 ET Markit flash PMIs
11/23 1:00 ET Goon Daly
11/23 3:00 ET Goon Evans
11/24 9:00 ET Case-Shiller home prices
11/24 10:00 ET Consumer Confidence
11/24 11:00 ET Goon Bullard
11/24 12:00 ET Goon Williams
11/24 12:45 ET Goon Chlamydia
11/25 8:30 ET Q3 GDP 2nd guess
11/25 8:30 ET Durable Goods
11/25 10:00 ET Personal Inc and Spend
11/25 10:00 ET Core inflation
11/26 US Market holiday

Key Economic Events Week of 11/16

11/16 2:00 pm ET Goon Chlamydia
11/17 8:30 ET Retail Sales
11/17 8:30 ET Import Price Index
11/17 9:15 ET Cap Ute and Ind Prod
11/17 10:00 ET Business Inventories
11/17 1:00 pm ET Chief Goon Powell
11/18 8:30 ET Housing Starts
11/18 1:20 pm ET Goon Bullard
11/19 8:30 ET Jobless claims
11/19 8:30 ET Philly Fed

Key Economic Events Week of 11/9

11/9 1:30 pm ET Goon Mester
11/10 7:30 am ET Goon Kaplan
11/10 10:00 ET JOLTS job openings
11/10 10:00 ET Goon Rosengren
11/11 Veteran's Day. Bond market closed.
11/12 8:30 ET CPI
11/12 11:45 ET Chief Goon Powell
11/12 2:00 pm ET Federal budget
11/13 7:00 ET Goon Williams
11/13 8:30 ET PPI
11/13 8:30 ET Goon Bullard
11/13 10:00 ET Consumer sentiment

Key Economic Events Week of 11/2

11/2 9:45 ET Markit Manu PMI
11/2 10:00 ET ISM Manu PMI
11/2 10:00 ET Construction Spending
11/3 U.S. Election Day
11/4 November FOMC begins
11/4 8:30 ET ADP jobs report
11/4 8:30 ET US Trade Deficit
11/4 9:45 ET Markit Services PMI
11/4 10:00 ET ISM Services PMI
11/5 8:30 ET Productivity & Unit Labor Costs
11/5 2:00 ET FOMC Fedlines
11/5 2:30 ET Chief Goon Powell presser
11/6 8:30 ET BLSBS
11/6 10:00 ET Wholesale Inventories

Recent Comments

by Outback, 1 min 59 sec ago
by Turd Ferguson, 14 min 44 sec ago
by linz47, 15 min 50 sec ago
by Reignbird, 15 min 58 sec ago

Forum Discussion

by silverseeker, Jan 14, 2021 - 10:12pm
by silverseeker, Jan 14, 2021 - 9:58pm
by Green Lantern, Jan 14, 2021 - 9:26pm
by matt_, Jan 14, 2021 - 5:43pm
by SteveW, Jan 14, 2021 - 3:22pm
by matt_, Jan 14, 2021 - 10:34am
randomness