Sponsored by

Some Jackass For Your Easter Basket

235

It's a holiday weekend so you know what that means....

It has been since late 2020 that we've checked in with our old pal, The Golden Jackass himself, Jim Willie. Never one to mince words or shy away from telling you what he really thinks, it's always a treat to hear from Jim and he doesn't disappoint today.

Over the course of this abbreviated call, I asked Jim to primarily focus on two subjects:

  • the state of the US bond market
  • the eventual "Big Reset"

And if you think that this is all Jim talked about for 45 minutes...well, you clearly haven't listened to one of these holiday podcasts before!

So sit back and enjoy the ride. The Jackass provides his own unique brand of analysis and it's not for everyone, I suppose. However, if you think it's for you, please do not hesitate to visit the Golden Jackass website to learn more about his services.

Thanks again to Jim for his time today. I can't help but wonder what we'll discuss and how the world will look by the time we get together again for the US 4th of July holiday...

TF

  235 Comments

  Refresh
JackPutter
Apr 4, 2021 - 6:07pm

The mere fact of physical buying into lowering price = hope

We have not yet seen the price swing in it's full power. Getting used to real events and their effects on the market with the timing of it all is the most difficult.

It can take months, yet it does show. Other real events might be attributed to moves like the news-splaining same day headline that are obviously not the reason for a move.

How long was Archegos under the radar before we heard of it? How long did Greensill take to trigger someone else's position? Was that before our awareness?

When the newsies attack gold they go for the "hedge against inflation" as their first position. They use price to point to especially when it's the price 4 months from now that will matter. They do not advertise at all the real reason to own gold and silver.

Third party folly. Promises that may be perfectly reliable one morning turning to liability and unfulfillable the next. Uncounted is the chain reaction of liabilities and how far and what weird jumps those can take.

boomer soonerSteveW
Apr 4, 2021 - 6:03pm

More pig

2 pork tenderloins being drowned in balsamic vinegarette sitting in the fridge. Then 3# of shrimp going for a butter and Cajun spice hot dip once the grill gets to temp.

I see Craig's future son in law just won the golf tourney in San Antonio. Congrats Jordan

AGXIIKSteveW
Apr 4, 2021 - 5:54pm

Winner Winner Porky Dinner

It might not be surf and turf but tonight pork ribs and ahi tuna are on my Blue Plate Special along with a veggie combo. Yummy! A snort of McCallan's 12 year rounds it out

SteveWallenb
Apr 4, 2021 - 5:34pm

Bacon for Easter dinner!

We're having the traditional baked ham together with a Rhine style Riesling-Gewürztraminer blend. So it only makes sense to have German style potato salad with BACON, for the extra pig!

tonym9
Apr 4, 2021 - 5:21pm

I will look to re enter AG

I will look to re enter AG after the morning miner smash that should come. Post holiday Mondays always get gold/silver down it seems... Im thinking a Pigatha run up based on the BLSBS with a post dated stop trip run. Thatll be my entry...maybe 15.75 ish on AG.

But Im liking HL too, good chart movements. AG has the extra trading sauce and spice though, so will probably stick with it 100%.

Picked up a few MS70 2021s in the past few days. My first libertad came Friday, its a 2019. Opened it today, damn nice coin.

Watched game 3 of the Stros/As set today. Stros look good. Matt should have a good game with live bats to go to in a few days. Not happy about the GA AllStar deal, but whatevs, im taking my kid to a ballgame...eff the polyticks.

Must admit Im pretty useless today. Church, nap, podcast, nap, an inning, nap...lol, the grinding work schedule is taking it's toll on me. But I remain thankful, many hurt by this plandemic...way too many.

Here's some charting/TA. Im not real familar with this guy, but he has a pretty good explanation in the article. Morgan mentioned him in his podcast.

https://www.fxempire.com/forecasts/article/multiple-indications-of-a-rev...

JackPutter
Apr 4, 2021 - 4:42pm

To support my thoughts. Softbank

The things that Softbank has done in the last decade have always prompted the suspicious bone in my body. Last February preceding the $12 silver that retail isn't involved with;

https://www.ndtv.com/world-news/how-softbank-chief-masayoshi-sons-money-...

happycamper515Mintmoondog
Apr 4, 2021 - 4:31pm

You could substitute JW with

You could substitute JW with anyone in the gold space including everyone here. We've all been dead wrong about PMs for a decade.

PapFinncyclemadman
Apr 4, 2021 - 3:58pm

Thanks. Needs to be

Thanks. Needs to be bullhorned from the rooftops. I remember the day in Health Class circa 1978 when the teacher asked if anyone knew what autism was. Newsweek was doing its predictive programming work and the teacher had lapped it up. Of course there was close to ZERO autism then, but that was in the pharma pipeline to keep the nations well.

JackPutter
Apr 4, 2021 - 3:27pm

If metals prices confuse you

Ever since the metals Nov/Dec 2008 deep discount, and follow on of collapsing "banks"; I've had the feeling that a great deal of metal was being transferred under duress.

It was after these deep prices that all time highs were reached. Also came the news of how these institutions were over-leveraged and lacked liquidity. Each of these sudden deep discount events into a larger rise in the price of the metals precede more bad-bank news.

This would include the interbank-Repo-Rate pump up in Aug/Sept 2019. I would suggest that that event never ended, it's just papered over. Good luck moving your Lambos over it.

Recently we've had Greensill margin calls into a collapse, followed by an interruption of Just In Time delivery systems, and yet another margin call on an over levered hedge fund. I am pretty sure there's a whole lot of story that's going to take years to learn about. All this was concurrent with a fire-sale of assets and gold and silver led the pack. Gold and silver are doing their job.

They are the first signal that something is wrong in the banking arena. That huge price dip means someone is will to part with one of the most liquid of assets at a discount to stop their bleeding.

It's followed by a rush into the insurance aspect of the metals in weeks or months.

Since hearing of Archegos (pronounced archie goes) I've held that the gold price drop was a signal. I still think Greensill > Evergreen > Archegos > Repo-madness = price drop of assets > price recovery and surpassing price of said assets.

An interesting video;

Repo Madness 2021 Details Coming Out: Same Collateral Used 7 Different Times By Hedge Funds?
surfeitndearth
Apr 4, 2021 - 2:54pm

@Tex

Pink Floyd FC (8) - Get Your Filthy Hands Off My Desert

Subscribe or login to read all comments.

Become member and subscribe to Turd's Vault

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 4/12

4/13 8:30 ET CPI
4/13 12:00 ET Goon Harker
4/14 8:30 ET Import Price Index
4/14 12:00 ET Chief Goon Powell
4/14 2:45 ET Goon Chlamydia
4/15 8:30 ET Retail Sales
4/15 8:30 ET Philly Fed
4/15 8:30 ET Empire State Manu
4/15 9:15 ET Cap Ute and Ind Prod
4/15 2:00 ET Goon Daly
4/15 4:00 ET Goon Mester
4/16 8:30 ET Housing starts

Key Economic Events Week of 4/5

4/5 9:45 ET Markit service PMI
4/5 10:00 ET ISM service PMI
4/5 10:00 ET Factory Orders
4/6 10:00 ET JOLTS job openings
4/7 9:00 ET Goon Evans
4/7 12:00 ET Goon Barkin
4/7 2:00 ET March FOMC minutes
4/8 12:00 ET Chief Goon Powell
4/9 8:30 ET PPI
4/9 10:00 ET Wholesale inventories

Key Economic Events Week of 3/29

3/30 9:00 ET Goon Quarles
3/30 10:00 ET Consumer Confidence
3/30 2:30 ET Goon Williams
3/31 8:15 ET ADP Employment
3/31 9:45 ET Chicago PMI
3/31 time TBA Biden Infrastructure speech
4/1 9:45 ET Markit Manu PMI
4/1 10:00 ET ISM Manu PMI
4/1 10:00 ET Construction spending
4/2 8:30 ET BLSBS

Key Economic Events Week of 3/22

3/23 9:00 ET Goon Bullard
3/23 12:00 ET CGP and Mother on Capitol Hill
3/24 8:30 ET Durable Goods
3/24 9:45 ET Markit Flash PMIs March
3/24 10:00 ET CGP and Mother on Capitol Hill
3/25 8:30 ET Q4 2020 CDP final guess
3/25 12:00 ET Goon Bostic speech
3/25 3:45 ET Goon Chlamydia speech
3/26 8:30 ET Personal Income and Spending
3/26 8:30 ET Core Inflation
3/26 10:00 ET Consumer Sentiment

Key Economic Events Week of 3/15

3/15 8:30 ET Empire State Index
3/16 8:30 ET Retail Sales
3/16 8:30 Import Price Index
3/16 9:15 ET Cap Ute and Ind Prod
3/16 10:00 ET Business Inventories
3/17 2:00 ET FOMC Fedlines
3/17 2:30 ET CGP presser
3/17 8:30 ET Philly Fed

Key Economic Events Week of 3/8

3/8 10:00 ET Wholesale Inventories
3/10 8:30 ET CPI
3/10 2:00 ET Federal budget
3/11 8:30 ET Initial jobless claims
3/12 10:00 ET JOLTS job openings
3/13 8:30 ET PPI
3/13 10:00 ET UMich sentiment

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

Recent Comments

Forum Discussion

randomness