TFMR Podcast #13 - The Straight Skinny from Gonzalo Lira


With everything in Europe seemingly coming to a head very soon, I thought it would be wise to ring up Gonzalo Lira, as he has a much better grasp of the situation than I.

In this podcast, I give Gonzalo free rein to go wherever he wants. Part of that was intentional; Turdites will recall that the Skype connection between Anytown, USA and Santiago, Chile is slow and creates a "delay" in the recording of the call. Part of it was intentional, though, as you all get plenty of my BS on a daily basis. I figured that if Gonzo was willing to give us the time, I might as well let him have the floor.

This call begins with a discussion of the mysterious trillions of bearer bonds rounded up today in Switzerland. From there, we discuss Europe and the eventual default of Greece and then conclude with some thoughts on Iran and the implications of the war that seems to be brewing.

If you enjoy this podcast, I would strongly you to consider becoming a subscriber at Gonzalo's website:

Membership has its benefits. Not only do you receive timely analysis but Gonzalo also he hosts instructive webinars for his clients about once per month.

The podcast runs a bit longer than usual at 50 minutes or so but, if you have the time over this 3-day weekend, I encourage you to listen to the entire thing.



Feb 19, 2012 - 8:05am

Iran is stopping oil exports

From BBC headline rolling breaking news banner

​Iran is stopping oil exports to France and Britain, Iranian oil ministry says. UK only imports 1 % of its oil from Iran, so no dramas there. Not sure about France. Will have to check....edit.France imports about 4 % of its oil from Iran.

short posting now

The top destination for Iran's crude oil exports in the six months between January and June 2011 was China, totalling 22% of Iran's crude oil exports. Japan and India also make up a big proportion, taking 14% and 13% respectively of the total exports of Iran. The European Union import 18% of Iran's total exports with Italy and Spain taking the largest amounts.

Sri Lanka and Turkey are the most dependent on Iran's crude exports with it accounting for 100% and 51% of total crude imported, respectively. South Africa also gain 25% of their total crude from Iran.
Louiethurd aye
Feb 19, 2012 - 7:22am

Au Awakening

If there is an awakening going on, I have yet to see evidence of it. The only people that I know who stack are people who I meet at the LCS. People talk about there being 5% of the population that holds G&S. If there are 5%, I have had very bad luck in meeting them. I talk to a lot of people about stacking and have had only one person who came back and asked me to help them make a purchase.

On a side note. It is my observation that most Americans who own any gold at all own jewelry. Most of them are not even thinking about the gold content when they make the purchase, which is why so many buy 10k and 14k jewelry. Indians, Thais, and people from the ME will generally only purchase 22k jewelry.

Feb 19, 2012 - 6:08am

Cost To Get Rid of Green Card

As a Canadian, I have lived and worked in several countries. When I left Canada, I did not have to pay their taxes, when I left England, I did not have to pay their taxes, if I leave the US, as a Green Card holder, I have to pay taxes to the US for 10 years.

That's the real cost of a green card.

thurd aye
Feb 19, 2012 - 6:01am

sheeple gold?


I don't know if this is the right place I for this or not.Forgive.I was reading about a typical young UK couple saving for their first house and a line caught my AYE.


Anna, who earns £ 20,000 as a help desk administrator, tries hard to be disciplined with money and as a result is debt free. However, she struggles to save much because she spends around £ 900 each month on living costs.

To date, Anna has saved £ 2,500, which is deposited in a Santander e-saver Isa, and last year the couple bought a couple of ounces of gold. They also have around £ 2,000 worth of Tesco shares through John's employee share save scheme.


Now , supposedly ,there is a VERY low percentage of people buying gold.But ,if these two are anywhere near typical,there are many buying the odd couple of ounces,and that suggests an awakening generally amongst the population towards Au.Thoughts?


Kryptonite for Bankers
Feb 19, 2012 - 5:05am

The fake bonds...

This may be of interest to those of you following the bond story. The earliest posts date back to 2008, before the first story of the businessmen being stopped in Italy. I had no idea how rampant these fakes were until I went through these posts. The funny thing is, these may very well have been counterfeited by the US Government. A lot of irony there. I really don't know what to make of this story.

Feb 19, 2012 - 1:47am

@ ilion- Bearish on G&S

Probably not going to happen.

I can't speak for everyone here, but I buy G&S because I don't trust banks, fiat currency, the stock market, or clearing houses. The only things that I "invest" in are physical assets. G&S help me to store the value of my earnings so that they are available in the future.

If we were to have a revival of conscience in the US government (like a balanced budget and paying off all/most of the national debt) and a revival of regulation in the banking sector (where people who steal money actually go to prison for a long time) then I might start trusting fiat again. We will probably see a cooling trend in hell before that happens, so I probably won't ever be bearish on G&S.

Feb 18, 2012 - 11:31pm


I see we are reading from the same play book.


Feb 18, 2012 - 11:03pm


needed to turn metals bearish:

a) world - wide acceptance of a just and lasting peace.

b) god takes away b.s. bernanke's keys to the printing press (likewise other central bankers).

c) huge new metals discoveries. (and i mean really huge - like more than has been mined since alley - oop.)

d) new psychoactive drug discoveries that suppress/eliminate human greed and female desires for decoration.

all these are expected by the second tuesday in next week.

... i have some beach - front property to sell you just as soon as the tide goes out just a little more...

Feb 18, 2012 - 10:00pm

Green Card Replacement Inflation !

The cost for replacing a lost, destroyed, stolen (that about covers it) Green Card has jumped from $370 to $450 sometime in the last year or so ! Monedas 2012 Inflation Police

Feb 18, 2012 - 9:08pm

You bunch of dang nab Turds have

caused a canned bacon shortage! Prices to the moon!

Subscribe or login to read all comments.


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 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

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

Forum Discussion

by FrankMUQAQ, 2 hours 10 min ago
by HappyNow, 10 hours 50 min ago
by 11IMIX, Oct 28, 2020 - 8:49pm