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TFMR Podcast - Friday, May 15

215

It was a great end to a great week where the old TFMR adage is proven yet again. To celebrate, I thought we should make this podcast immediately public in the hope that more people will choose to come along with us on this ride.

We are in the early stages of what will be the greatest precious metal bull market you are likely to see in your lifetime. To profit from this...and to secure your future...I urge you to consider a membership to TFMR. Its only $12/month and, this weekend only, we're running a discount due to the uncertain economic times.

And just so you know, it's not like we just stumbled upon this last week. Here are links to our two most recent annual forecasts. Please take a look. You'll see that we're clearly onto something and ahead of the curve in terms of analysis:

So, if you'd like to join us, just go to this link: www.tfmetalsreport.com/subscribe. Once there, select the monthly subscription option and then enter the coupon code "GOLD". This will save you $6 on your first month but every dollar counts at a time like this. I hope you'll join us. You'll find that the regular $12/month cost can be made up pretty quickly through the information we share here.

For today, just a lengthy general discussion followed by a mention of this story that broke right after the NYSE close: https://www.zerohedge.com/markets/fed-warns-stocks-face-significant-decl...

From there, we begin with these screenshots:

Next, we discuss Comex gold and silver and the persistent premiums/spreads versus spot:

Next, we check the daily and weekly charts of the mining shares:

And we close the week as we always do, with a look at your latest CoTs...which remain the most"bullish" since late June of last year.

Again, I hope non-members of TFMR will take the time to join us. You can bump along doing your own thing OR you can spend 40¢/day to learn A LOT about the precious metals and mining shares and then put that knowledge to use.

Have a great weekend, everyone!

TF

  215 Comments

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jaba
May 17, 2020 - 11:16am

@Jaba

Congress enacted legal tender laws allowing for the issuance of fiat paper supposedly backed by gold, called the fractionalized gold reserve system. Eventually, the rules were relaxed and allowed for the issuance of strictly "federal reserve notes" which made the fiat paper non-redeemable for physical gold, and thus, pure fiat paper. Gold and Silver are still legal tender, but there is no one who will exchange their $1 American Silver Eagle coin at face value, so there is always the issue of the fiat paper exchange valuation. As between buyer and seller, though, barter is still legal so that means I as the buyer can offer to exchange my silver or gold for a seller's farm and tractor. So long as we come to mutually acceptable terms, then we have an enforceable contract in all 50 states.

DropnsumNYCdryam
May 17, 2020 - 11:12am

Thanks dryam

Appreciate the feedback

bikerdoc
May 17, 2020 - 10:51am

Pierre Lassonde

Hi Craig,

Do you think you can interview Mr. Pierre Lassonde asking him about GLD? He was the chair of Wold Gold Council during 2005 to 2008, while GLD just began to operate. He should have the first hand insight of how GLD operated.

UltraBoy
May 17, 2020 - 10:38am

The miners, just like 2000-2011 on the way

"This compares to the aggregate market value of the FAAMG (Facebook, Amazon, Apple, Microsoft, Google) stocks of $5.4tn and the market value of US Treasury debt outstanding of $25tn. So the gold miners, in aggregate, are worth about 5% of the value of just those 5 FAAMG stocks and 1% of the value of all the Treasury debt outstanding.

What do you think would happen to the price of the gold miners if some of that capital left the FAAMGs or Treasury bonds and flowed into the gold miners?"

https://www.zerohedge.com/markets/heres-5-reasons-why-gold-miners-have-m...

lakedweller2Marcus
May 17, 2020 - 10:00am

Powell

You can be confident that whatever Powell says will not be the truth, but will be putting banks in the best light. Summary: Wasting our time.

Marcus
May 17, 2020 - 8:37am

Fed talk this evening

It will be interesting to see what Jerome Powell says this evening, how he says it, what he doesn't say, what he studiously avoids and what, if anything, he outright denies. Pay attention to body language, tone of voice and facial expressions as well (stop focusing on his purple tie, which we already know is a given). Don't expect any hardball questions either, which may also speak to something (any so-called 'hardball' questions will merely appear so, in order to give the impression of being a balanced interview).

https://www.cbsnews.com/news/federal-reserve-chair-jerome-powell-60-minu...

indiana rod
May 17, 2020 - 8:21am

Get Ready For Unthinkable Levels Gor Gold & Silver

Equity markets closed down for the week. Silver closed up 7.3%.

Top Citi analyst Tom Fitzpatrick says "Get ready for unthinkable levels for gold and silver."

"As I continue to say--The only unthinkable in financial markets in a crisis is that any thing is unthinkable. The same likely holds for silver." ( It reached $50.00 in both 1980 and 2011 )

That answers the question about the price of Couer.

DeGraives
May 17, 2020 - 8:09am
Nijle
May 17, 2020 - 7:21am

Sunday viewing

Glen Greenwald on Flynn ( all you need to know)

System Update with Glenn Greenwald - The Sham Prosecution of Michael Flynn
allenb
May 17, 2020 - 6:59am

Test

Just testing. My first attempt at posting a chart.

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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

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