TFMR Podcast #10 - Jim Quinn of The Burning Platform

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Late Thursday, I had a conversation with Jim Quinn of https://www.theburningplatform.com/ As you may know, I've become a big fan of Jim's work and it was a real treat to get to visit with him.

I think what I like best about Jim is that he's just a regular guy. He's not a "former Wall St analyst" or an "independent trader". He's just a guy that was so alarmed at what he saw happening in the U.S. that he feared for his kids' future. He started writing articles in 2008 and they were soon picked up by several, independent websites. Not long after that, it was off to the races. He now manages his own site called The Burning Platform and he is frequently a "guest poster" at Zero Hedge.

I heartily encourage you to become a regular visitor to his site.

p.s. I was having some extraordinarily strange, technical difficulties while recording this podcast. Unfortunately, the recording was interrupted and I lost the last 15 minutes or so. I promise to try to circle back around to Jim soon so that we can elaborate on this initial discussion.

  241 Comments

SS121
Jan 6, 2012 - 10:11pm

Could it happen

me 1 ?

DOH!

lordbyroniv
Jan 6, 2012 - 10:11pm

TURD

TURD !!!

Be Prepared
Jan 6, 2012 - 10:16pm

First-a-licious!

This is the Firstiest Firstness!

Be Prepared
Jan 6, 2012 - 10:27pm

Capital Controls come to Italy

Capital Controls come to Italy

  • The passing of an extraordinary edict making cash transactions of more than Euro 1,000 illegal (not subject to reporting – just plain illegal). Following Prodi’s own desire, the existing regime has indicated that this level will be progressively reduced to a limit as low as Euro 300. Hence cash is maybe for the first time in history no longer legal tender (over Euro 1,000, for now);
  • A requirement that credit card companies report all transactions carried out by Italians, in Italy and abroad to the fiscal authorities;
  • Delays and refusals by banks in allowing customers to withdraw cash balances of as little as Euro 10,000;
  • Finance Police has placed cameras at the physical borders with Switzerland (see below) to register all license plates. In addition, currency-sniffing dogs have been deployed at the border ( https://www.cdt.ch/ticino-e-regioni/cronaca/56250/fiscovelox-riapparsi-no... ). <Article>

___________________________________________________________________________________

This is NO longer a discussion about what may come..... I can't imagine Italians thought that this would ever happen to them. If they hadn't prepared or expected this.... it's too late now!

Jan 6, 2012 - 10:53pm

My goodness gracious

Truly awful...and it's only just beginning.

ReachWest
Jan 6, 2012 - 11:12pm

Yikes

@ BePrepared - Great and scary find. (A vision of the future!!?) Looks like the link is an Italian site - wish I could read Italian.

Looking forward to listening to the Podcast, Turd. Thank-you. Scheduled for tomorrow AM.

I've been somewhat absent (although lurking) from Turdville for the past few weeks (holidays and the need to take a break from all the "dark noise" surrounding the financial world).

For a bit of amusement - here's another Turdville focused cartoon I put together. Enjoy.

The Federal Reserve Bails out Big Banks
ipreferPHYS
Jan 6, 2012 - 11:16pm

...And what would we do if this were to happen to us???

What good is having cash, or even physical for that matter if it is illegal use it. A country-wide black currency market would have to be formed and accepted by the public. So it will be interesting to see the outcome of these controls and what the Italians will allow themselves to do. Sounds to me like the smart Italians who prepared accordingly and diversified into other safe-haven assets (like land, housing, debt-free) are the ones who will be in the best shape.

Shill
Jan 6, 2012 - 11:38pm

WOW! BP, just wow.Where are

WOW! BP, just wow.

Where are we at on the Central Swiss bankers wife swapping francs for dollars the day before the devaluation?

Turd thank you for the Pod Cast

kliguy38
Jan 7, 2012 - 12:07am

Shill

i hope you are not alleging an impropriety in the CB family...his wife is just an astute trader

TheSilverJournal.com
Jan 7, 2012 - 12:23am

Falling Prices is a Normal Economy

Falling prices is the normal state of an economy. Gold supply grows at only about 1.5% / year. So in a normal economy, prices fall as technological gains improve productivity, allowing the amount of goods to increase faster than the money supply. To simplify, with a little more gold chasing an even greater amount of goods, prices fall.

TheSilverJournal.com

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

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Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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