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Thursday Conversation - Ned Naylor-Leyland

27

Our longtime pal, International Man of Mystery and true Renaissance Man, Ned Naylor-Leyland stops by today to give us an update on the precious metals and the mining shares.

It's always so much fun to get caught up with Ned. He's such a good dude and an incredible advocate for sound money and the precious metals. As we finally move toward the end of 2020, I asked Ned to focus upon four main areas for this conversation:

  • the primary driver of the bull market and the outlook for 2021
  • why the mining shares continue to be so unloved
  • what might finally bring around institutional interest for the sector
  • why Bank interest and forecasts for the silver price are important

But, as you might imagine, there's a whole lot of fun and additional information in between. Though we joked around for over an hour, the recorder was only running for about 22 minutes in order to keep it economical in terms of your time. Therefore, please be sure to give this podcast a thorough listen. You'll be glad you did.

TF

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canarymack
Nov 12, 2020 - 11:11pm

mack....

I like sunshine.

canary
Nov 12, 2020 - 10:55pm

Gold November destiny...200 DMA ($1780).

News #1...Pfizer vaccine approver by FDA....Gold hit $50.

News #2...Moderna vaccine 90% effective....Gold hit $30.

News #3....AstraZeneca vaccine 85% effective....Gold hit $20.

Mission accomplished.

zman
Nov 12, 2020 - 9:50pm

"They want more inflation"

"They want more inflation" Yet, after over 12 years of The Fed spewing that same nonsense, people STILL believe them for some very strange reason. The very same people that don't trust the Federal Reserve, for whatever reason trust them when it fits their investment narrative, how convenient is that? I got news for those people, the Fed is lying about their inflationary goals!!!

Does anyone look at the credit growth or lack of credit growth today? There is almost no credit creation taking place today, there is no fiscal policy to make up the difference. How in the world is there going to be an increase in demand under those conditions? It can't happen.

Who did the Fed just blame for the lack of inflation this week? Yes, they blamed Congress like they have for over a decade. And guess what Congress is going to do about it? Nothing at all. More silver for the Green New Deal??? That deal is never going to happen. Remember Trump and his Rebuild America infrastructure plan? Yeah, it never happened. There is no stimulus coming for Main Street, it's not going to happen and it's deliberate in nature.

If I was the Fed and really wanted inflation, what else could I do? Let's see, I could cut payroll taxes and fund the difference. I could buy all of the student debt and cancel it. I could buy all the medical debt and cancel it. I could buy some of the consumer debt and cancel it. I could suggest UBI and fund it. I could suggest Medicare For All and fund it. So really, there's an infinite number of ways for the Fed to create inflation and stop playing dumb about not reaching their inflation targets. But guess what? It's never going to change.

mavens
Nov 12, 2020 - 9:03pm

I realize that it is not the weekend, BUT...

I'd be interested to see what Dan has to say with his pitchfork and torches analysis of what in the wild, wild, west BTC is doing right now. There is zero resistance above IMO. It doesn't even feel like the FOMO of 2017 to me yet. I am a long time BTC HODLER.... I feel like this motherfucker could be 30 by this time next week and I wouldn't be shocked a bit. In fact, I might only get a little wiggle in my pants compared to the full blown party that was going on down there in 2017. It feels like something is about to let the F loose in BTC to me. Has ever since 13K was breached... Paypal seems to be the catalyst...

Where = @CompWiz4u is?

mackcanary
Nov 12, 2020 - 8:41pm

canary

What coal mine do you prefer to work out of.

Or not work out of?

mackConnie
Nov 12, 2020 - 8:39pm

sarc button

I missed it.

lol at your observations on this site.

thanks for the whimsy

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

Connie
Nov 12, 2020 - 8:34pm

In other news....

Biden will make arresting child molesters his top priority.

Pelosi will tackle how to eliminate special interest groups from politics.

James Comey will deliver a series of lectures on ethics.

Adam Schiff will teach how to make good first impressions.

AOC will lecture on accuracy in economic forecasts

AND

Barack Obama will expound on starting and running small businesses profitably.

canary
Nov 12, 2020 - 7:39pm
canary
Nov 12, 2020 - 7:34pm

Chuck Butler...part 2

I’ve seen the trading outfits all ready to move before, folks… See, that’s what you get when you follow a guy who has been around currency trading since 1992… And in the investment business since 1973… The last time I saw this, was 2009, when it was rumored that the Fed would begin to demonetize the debt (Quantitative Easing), and then when it was announced in March of 2009, the triggers were pulled and it was an all-out assault on the dollar… The time before that was 2001, and I recognized what was going on and wrote the White Paper: The Decline of The Dollar. Soon, then President Bush announced that he was going to implement tariffs of Japanese steel… And that caused the triggers to get pulled, and sell the dollars, in February 2002….

Yes, we’ve had several false dawns in the past couple of years… And each time, I jumped too soon, and thought that the sentiment toward holding dollars had changed… But this time, I have checked all the boxes, and they all line up to a scenario much like 2009, and 2001… I’m just saying…

canary
Nov 12, 2020 - 7:32pm

Chuck Butler...USD...part 1

So, when traders want to sell dollars, they buy: Euros, first, francs second, yen third, sterling fourth, and then so on down the line… And the thought of selling dollars is weighing heavily on traders right now… Hedge Funds too, are contemplating selling dollars, as are many other large outfits…

I don’t know what it will take for them to pull the trigger on the selling of dollars… But when it comes it will be like the proverbial snowflake that causes the avalanche! It could be delay news on the vaccine, it could be a final decision of the courts on the winner of the Presidential election, it could be the announcement of a new economic lockdown here in the U.S., it could be a number of things, but one sure seems to be ready to happen, at a moment’s notice…

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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

Key Economic Events Week of 10/26

10/27 8:30 ET Durable Goods
10/27 10:00 ET Case-Shiller home prices
10/27 10:00 ET Consumer Confidence
10/27 10:00 ET Richmond Fed
10/28 8:30 ET Advance Trade in Goods
10/28 8:30 ET Wholesale Inventories
10/29 8:00 ET ECB monetary policy stmt
10/29 8:30 ET Q3 GDP first guess
10/30 8:30 ET Personal Income and Spending
10/30 8:30 ET Core Inflation
10/30 10:00 ET UMich Consmer Sentiment

Key Economic Events Week of 10/19

10/19 11:45 ET Goon Chlamydia
10/20 8:30 ET Housing Starts
10/20 1:00 pm ET Goon Evans
10/21 10:00 ET Goon Mester
10/21 2:00 pm ET Fed Beige Book
10/22 8:30 ET Initial Jobless Claims
10/23 9:45 ET Markit Oct flash PMIs

Key Economic Events Week of 10/12

10/13 8:30 ET CPI and Core CPI
10/14 8:30 ET PPI
10/14 9:00 ET Goon Chlamydia
10/15 8:30 ET Philly Fed
10/15 8:30 ET Empire State Idx
10/15 8:30 ET Import Price Idx
10/16 8:30 ET Retail Sales
10/16 9:15 ET Cap Ute & Ind Prod
10/16 10:00 ET Business Inv

Key Economic Events Week of 10/5

10/5 9:45 ET Markit Svc PMI
10/5 10:00 ET ISM Svc PMI
10/5 10:45 ET Goon Evans
10/6 8:30 ET Trade Deficit
10/6 10:00 ET JOLTS job openings
10/6 10:45 ET Chief Goon Powell
10/7 2:00 ET Sept FOMC minutes
10/7 3:00 ET Goon Williams
10/8 8:30 ET Initial jobless claims
10/9 10:00 ET Wholesale Inventories
10/9 12:10 ET Goon Rosengren

Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Forum Discussion

by Spartacus Rex, Dec 4, 2020 - 10:57pm
by Spartacus Rex, Dec 4, 2020 - 10:52pm
by ancientmoney, Dec 4, 2020 - 2:33pm
randomness