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
BlackwatersailorTF
May 15, 2020 - 12:24am

I've got a question for pondering

SilverCorp.

How does management plan to placate the Drug cartel in Guyana. By locking up and driving out the DIY miners in and around their land which cuts off the gold that the drug cartel purchases to launder Drug Cartel money. Stepping on those toes usually results in shortening of one's life without a pre-agreed apon deal of some sort. Deals with the local Gov't aren't worth the toilet paper that the agreements are written on. Some politicians are bought, some aren't, and it changes by the hour.

At first I couldn't understand the sideways knife stab in the media. Silvercorp USA being paraded in negative light shortly before the announcement of Silvercorp of the purchase and amalgamation of Guyana goldfields. etc etc. I would love to see who made off like a bandit in those three letter agencies. After watching the world players for the last 50 years I'm not a big fan of coincidence.

The Silvercorp USA thing is looking more and more like a side play for something else. Most likely a diversion for other units as far as I can tell. This would mean everything was planned right down to the name used for the corp.

I'm seeing rumblings about a winter/spring military interdiction in Venezuela. This would fit with what we are seeing in the merchant marine supply system. Logistics have been moved to support something fairly large in the Caribbean Sea. So I would think about curtailing vacations in that general area. It's always the same gameplay when war starts. Grab as many whites in the area for trading points. Well those that the local's don't take their anger out on. Televised beatings of foreigners always sooths the locals and enflames the political left in western countries.

Mark my words here gents. This is perfect timing for the next shitty little war kickoff. Right after the election. Any takers against?

boomer sooner
May 15, 2020 - 12:10am

Forecasting

The "non interested" party is doing MUCH better than the "medical community" in forecasting numbers relating to Kung flu here in the US. So far, by a wide margin.

COVID-19 Forecasting Scoreboard

Brier scores (lower is better):
1) Non-expert 0.143
2) Experts 0.307

The above scores include 7 closed questions.

A summary of all competing forecasts is below. pic.twitter.com/Id1QXo5PFK

— Tom Liptay (@TLiptay) May 2, 2020

I wonder if we could get this type of forecasting compitition in metals?

Libero
May 14, 2020 - 11:47pm

To be honest, I own zero physical gold

lots of physical silver and gold miners but zilch in the yella metal.

My wedding ring is gold... (I think).

mavensscoremore
May 14, 2020 - 11:39pm

Atta Boy!

DCA like a BOSS!

scoremore
May 14, 2020 - 11:28pm

You talked me into it....Done...SDBULLION

Qty 75 of these bad boys!

$20.69/ea

scoremoremavens
May 14, 2020 - 11:21pm

I have to buy $1,500 or pay california sales tax...

So I sit and watch price go higher....doh!

TF
May 14, 2020 - 11:14pm

CDS high so far tonight $16.42

Still targeting $16.50

A weekly close tomorrow above that level would be terrific.

mavensscoremore
May 14, 2020 - 11:09pm

SGR

My silver to gold ratio is 616.666666666666666666666666666666666666(repeating, of course):1

If I had $500 burning a hole in me pocket right now, it would be a smidge higher than 616.66666667 in about 4 minutes.

DeaconBenjamin
May 14, 2020 - 11:03pm

Steve St. Angelo explains the logic behind GSR of 80:1

Important Factors Impacting Gold & Silver Supply and Price
scoremore
May 14, 2020 - 10:56pm

So I own 100oz of silver for every Gold oz...

I don't really need more silver but I want more silver.....burp!

That burp is from me chugging down the silver!

I get what you all are saying though.

Thanks for the input!

Subscribe or login to read all comments.

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 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

Forum Discussion

randomness