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:



Texas Sandman
May 14, 2020 - 8:06pm

attention junk buyers!

SDBullion has a deal on junk only $3.00 over spot. I know, I know... That's still a high premium.

But it IS better than $7 or $10. BGASC is at least $1K more for a $500 FV Bag.

Texmetals, are both sold out. Provident/JMBullion is $700 higher.

Apmex about same as provident.

I bought another $500 bag on those terms for storage with them.

May 14, 2020 - 7:53pm


That movie is coming to an end. Technicals aren't even required to know this. You can just feel the winds have shifted. Gold will be higher next week and next month. They are resetting their Maginot line. They will lose.

Long and strong indeed.

May 14, 2020 - 7:40pm

What a treat and at least one good laugh!

Mr turk can state it plain, but with a touch of gallows humor:

"Back in the 1970 the US was the largest creditor nation on Earth.; now it's the largest debtor nation in the universe!"

That cracked me up! So true! Our prior credit is a spec in comparison the current (and accelerating) debt.

Nicely scaled and pointedly stated.

Funny? Yes.

Terrifying? Yes, but even more so.

Thanks Turd!

May 14, 2020 - 6:50pm

Turk sounded like he was

Turk sounded like he was expecting price liftoff in weeks or months, not years.

May 14, 2020 - 6:46pm

Feels like miners are getting setup for a smack down tomorrow

Hope I'm wrong , but feel like I've seen this movie before ( big day tomorrow )

long and strong 💪 no matter which way it goes ✌️

Fargo Rodger
May 14, 2020 - 6:05pm

I purchased a new car in 1974

I purchased a new car in 1974. In 1978, I sold it for MORE than what I paid for it in 1974. That was inflation.

May 14, 2020 - 5:59pm

Thanks Turk and Turd!

Was a very informative conversation. I really do believe what Turk is saying and that is that no one understands metals and that is why they can do what they want as far as manipulate. But maybe eventually we will see enough people tired of losing money in stocks and the other options of just holding on to what you got will start to ring a bell and the shiny stuff will come up on the radar

Hypnotized Housewife
May 14, 2020 - 5:48pm

Great conversation

Thanks to both of you

May 14, 2020 - 4:57pm

Thanks Turd - good interview with James Turk

Nice to see the uptick in G&S&HUI. My miners fairly flat today.

Timing is still the issue for TPTB getting out of the LBMA and COMEX. I have been anticipating this for years. Maybe October this year?

May 14, 2020 - 4:28pm

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Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
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Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
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Key Economic Events Week of 8/24

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8/17 8:30 ET Empire State Manu Idx
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