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Ringing In The Jackass


2020 finally ends and 2021 begins. What better guest with whom to share New Year's Eve than our old pal, The Golden Jackass himself, Jim Willie.

Jim and I had scheduled 90 minutes for this call but we spent the first 45 just shooting the bull and getting caught up. In the remaining time, we rather broadly discussed:

  • the pending introduction of digital currencies
  • the bond market
  • negative interest rates
  • the post-January direction of the precious metals
  • and, as you might imagine, all sorts of stuff in between

Thanks again to Jim for so generously sharing his time with us. As usual, I think you'll find this podcast to be both entertaining and informative.



Jan 2, 2021 - 2:30pm
Jan 2, 2021 - 2:24pm


Don't Forget Rh

Mr. Fix
Jan 1, 2021 - 8:55pm

I keep coming back for more jackass

It's always good to hear Jim's perspective.

Happy new year everyone!

Ferd Torgerson
Dec 31, 2020 - 7:35pm

Happy New Year, Turdites!

I've never met a single one of you, but as we say where I come from, "You're all 'good folks'".

And a special salute to our man Craig Hemke!

He kept the train on the tracks despite having to deal with illness in his family and fighting his own battle against Covid.

How many places will you ever see a guy like our own leader?


Dec 31, 2020 - 7:19pm

Happy New Year!

What a year for Gold & Silver!

Dec 31, 2020 - 4:47pm

"stock markets are completely

"stock markets are completely detached from fundamentals and ripe for a nasty gap down in the months ahead"

Hmm, I heard this for over 12 years now. The valuations are justified because of the low interest rates and the likely chance that rates on the 10 year bond heads to new all-time lows in 2021. Lower rates equal higher PE's. IF the stock market goes lower the Fed will just buy corporate bonds and then ultimately the shares of the companies. The stock market can NOT go into a long bear market, not gonna happen.

"We are bankrupt in every sense imaginable-we live in debt"

Well, we are NOT bankrupt because the debt is a choice in this case. Don't think of government debt like personal or company debt. The US decided a long time ago to let The Elite not pay enough in taxes and instead issue debt which they ultimately buy. The debt is a scam and The Elite use it as a weapon, and it scares people into letting them to whatever they want as they use 'debt' as an excuse.

There's always enough money for the military and trillions in tax cuts for the billionaires, but somehow there's no money for Medicare For All or $2000 payments for the peasants. Do you see how it works? The US isn't bankrupt, it's all of choice and nothing more. The billionaires are selling the US is bankrupt narrative, why listen to those crooks on the issue?

Dec 31, 2020 - 1:10pm


Thanks for this post. Another good one! I have enjoyed reading your views and thinking about your investment strategies for the miners which you have shared.

I am also in the 'never had a phone' camp for much the same reasons you state. Not having a phone and being outside of that world (and the shit they do with their thumbs) allows you to see how totally consuming these devices have become. Think "The Social Dilemma".

I was gifted an old iPhone, as the rest of the family handed down their phones in a general technology refresh. No Sim card, as requested, as I need this for the video output for my drone controller.

CHR too.

CC Horses
Dec 31, 2020 - 1:06pm

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Dec 31, 2020 - 1:04pm

Declaration of Independence

Here are a few select complaints against King George III made in the Declaration of Independence. Sound familiar?

He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance.

He has excited domestic insurrections amongst us...

He has affected to render the Military independent of and superior to the Civil power.

He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws...

He has obstructed the Administration of Justice...

He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation and tyranny...

Dec 31, 2020 - 1:01pm

Happy New Year....

Be free - be healthy - be happy

We had a good year in PMs - I disagree with Jim on his outlook for gold - 2021 will rock

Credit creation in spades - deliveries will be a big story

They defended $1900 it looks like, but we'll fix that fast enough!!!

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Key Economic Events Week of 3/1

3/1 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 1:00 ET Goon Brainard
3/3 9:45 ET Markit Service PMI
3/3 10:00 ET ISM Service PMI
3/3 12:00 ET Goon Bostic
3/3 2:00 ET Goon Evans
3/4 8:30 ET Unit Labor Costs
3/4 10:00 ET Factory Orders
3/4 12:00 ET Chief Goon Powell
3/5 8:30 ET BLSBS

Key Economic Events Week of 2/22

2/22 10:00 ET LEIII
2/23 9:00 ET Case-Shiller home prices
2/23 10:00 ET CGP at US Senate
2/24 10:00 ET CGP at US House
2/24 1:00 ET Goon Chlamydia speech
2/25 8:30 ET Jobless claims
2/25 8:30 ET Durable goods
2/25 10:30 ET Goon Bullard
2/26 8:30 ET Pers Inc and Spending
2/26 8:30 ET Core inflation
2/26 9:45 ET Chicago PMI
2/26 10:00 ET UMich sentiment

Key Economic Events Week of 2/15

2/17 8:30 ET Retail Sales
2/17 8:30 ET PPI
2/17 9:15 ET Cap Ute and Ind Prod
2/17 10:00 ET Business Inventories
2/17 2:00 ET January FOMC minutes
2/18 8:30 ET Initial jobless claims
2/18 8:30 ET Import price index
2/18 8:30 ET Philly Fed
2/19 9:45 ET Markit Feb flash PMIs

Key Economic Events Week of 2/8

2/8 12:00 ET Goon Mester speech
2/9 10:00 ET JOLTS job openings
2/10 8:30 ET CPI
2/10 10:00 ET Wholesale Inventories
2/10 2:00 ET Chief Goon Powell speech
2/11 8:30 ET Initial jobless claims
2/12 10:00 ET Consumer sentiment

Key Economic Events Week of 2/1

2/1 9:45 ET Markit Manu PMI
2/1 10:00 ET ISM Manu PMI
2/3 8:15 ET ADP employment report
2/3 9:45 ET Markit service PMI
2/3 10:00 ET ISM service PMI
2/4 8:30 ET Productivity & Unit Labor Costs
2/4 10:00 ET Factory orders
2/5 8:30 ET BLSBS

Key Economic Events Week of 1/25

1/26 10:00 ET Consumer Confidence
1/26 1:30 ET Comex option expiration
1/27 8:30 ET Durable Goods
1/27 2:00 ET FOMC Fedlines
1/27 2:30 ET Chief Goon Powell presser
1/28 8:30 ET Q4 GDP first guess
1/29 8:30 ET Personal Income and Spending
1/29 9:45 ET Chicago PMI

Key Economic Events Week of 1/18

1/19 10:00 ET Mother for SecTreas hearing
1/20 12:00 ET POTUS Inauguration
1/21 ECB meeting and rate decision
1/21 8:30 ET Housing Starts
1/21 8:30 ET Philly Fed
1/22 9:45 ET Markit flash PMIs (Jan)

Key Economic Events Week of 1/11

1/11 12:00 ET Goon Bostic speech
1/12 10:00 ET JOLTS job openings
1/13 8:30 ET CPI
1/13 1:00 ET Goon Brainard speech
1/13 2:00 ET Beige Book
1/14 8:30 ET Import price index
1/14 12:30 ET Chief Goon Powell
1/15 8:30 ET Retail Sales
1/15 8:30 ET PPI
1/15 9:15 ET Cap Ute and Ind Prod
1/15 10:00 ET Business Inventories

Key Economic Events Week of 1/4

1/4 9:45 ET Markit manu PMI
1/4 10:00 ET Construction Spending
1/5 Georgia U.S. Senate election
1/5 10:00 ET ISM manu PMI
1/6 US election certification
1/6 8:15 ET ADP Employment Report
1/6 9:45 ET Markit service PMI
1/6 10:00 ET Factory Orders
1/6 2:00 ET December FOMC minutes
1/7 8:30 ET Trade Deficit
1/7 10:00 ET ISM service PMI
1/8 8:30 ET BLSBS
1/8 8:30 ET Wholesale Inventories

Key Economic Events Week of 12/21

12/21 8:30 ET Chicago Fed
12/22 8:30 ET Q3 GDP final guess
12/22 10:00 ET Consumer Confidence
12/23 8:30 ET Durable Goods
12/23 8:30 ET Personal Inc and Spending
12/23 8:30 ET Core Inflation

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