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TFMR Podcast - Friday, May 15


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!



May 17, 2020 - 4:33am

More Oliver

He just released his "last warning" to get positioned before massive break-outs in gold and silver. He expects silver to reach upper 20´s quickly before consolidating. No target on the gold price, but it's lift-off on a trade to 1819.50 this quarter.

May 17, 2020 - 3:36am
May 17, 2020 - 3:34am
May 17, 2020 - 3:23am

von Greyerz

Interesting thoughts regarding Dow:Gold and Dow:Silver ratios.


May 17, 2020 - 3:07am

As Turd has mentioned several times now...

What happens when a small % of capital from other markets/sectors flows into mining stocks? According to Bryce Coward, gold mining stocks (and I would think silver mining stocks similarly) are currently trading at an approximate 15% discount to the S&P 500 when typically they trade at a premium to the S&P 500. As we already know, he expects gold miner shares to outperform.

I'm getting excited for the weeks/months ahead and doing my due diligence late into the night/morning, so thought I'd share this with y'all.


May 17, 2020 - 3:05am

Yes I agree

Thank you for your comment.......

May 17, 2020 - 2:15am

KGC $5 calls

It very well could have been me. I bought a bunch on 7/1/19 @ $0.43 per share. When they went up 4X, I sold 25% of my position, and pulled my original capital. I wish I'd bought more, but instead I bought twice as many contracts on Jan 15 2021 $10 calls @ $0.24 per share. My decision point on those is 9/1/20 (well after Q2 earnings are released) to decide if I should roll them into Jan 21 2022 calls. A lot could happen by then! LOL

jabaCalifornia Lawyer
May 17, 2020 - 2:05am

1031 Exchange and Real Estate

@ CalifroniaLawyer @ Doople @ AGXIIK

As your US constitution states that only gold and silver are considered legal tender in the USA, surely one could pay for real estate in ASE's ?

I am a Brit and know nothing of your laws, but surely the constitution can only be trumped by an Act of Congress?

I am sure that you will quickly point out the error of my simplistic point of view.

May 17, 2020 - 12:28am

Marginal Miner

November4, here is my W.A.G.

I own Couer because it is the quintessential marginal silver miner. Seemingly never able to produce a profit, however large enough to have little risk of going belly up.

A small increase in silver price produces a tremendous increase in share price in a miner that is marginally profitable.

An excellent miner might have an all in sustaining cost of $12/oz. silver and therefore has a profit of $3/oz when silver is sold at $15/oz. If silver moves up $1 to $16/oz then that mine is instantly 33% more profitable with a concomitant increase in share price.

If you are Couer Mining and your AISC is $14.50/oz, then you are making 50¢/oz. A $1 increase in silver price results in a 200% increase in profitability and your share price soars.

Too simplistic an explanation but I hope it helps...

May 16, 2020 - 11:51pm


I thought it was just happy that silver was up around 5% and looking to take off.

BTW: It's Coeur Mining and was formerly called Coeur d'Alène Mines from the location of it's original silver mine in Idaho. Now I know you Americans have a different pronunciation, that I can't imitate, but it's something like cord delane.

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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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