TFMR Podcast #19 - Jim Willie


Like many of you, I know what is coming. I can see all of the pieces of the puzzle but I don't quite have the knowledge and expertise needed to bring all of the pieces together into a clear picture. Jim Willie does.

In this podcast, Jim takes today's seemingly unrelated headlines of European sovereign debt, JPM hedging losses and paper gold price drops and ties them all together into a tidy little package that clearly shows where we are headed in the not-too-distant future.

I think it's safe to predict that you will greatly enjoy this podcast and rank it among the best we've had to date.



ink Dr G
May 13, 2012 - 6:28pm

Re: Netdania

You might just as well look at EURUSD. That's all gold has reacted to last week. EURUSD -0.23% so gold should be somewhere just under 1580.

May 13, 2012 - 6:56pm

A very interesting article

Here's the most important part for gold and silver:

Position limits are another example. Dodd-Frank ordered the CFTC to begin enforcing the new rule no later than January 17th, 2011. But January 17th came and went, and – no position limits! Gary Gensler, the head of the CFTC and a former executive of Goldman Sachs, then announced that he hoped to implement the rule by September 2011. But September came and went, and soon it was 2012, and before you knew it, the CFTC, like the SEC, was in court, facing a lawsuit that would permanently kill the rule.

Even the president got into the stalling game. During the year of nonaction on position limits, the "disease that did not exist" – energy speculation – returned to ravage the American gasoline market. In the winter of 2011, oil soared above $100 a barrel, despite fundamentals of supply and demand that would have suggested a price drop. Obama blasted fuel speculators for the price hike and announced that he was creating the Oil and Gas Price Fraud Working Group to "root out any cases of fraud or manipulation in the oil markets." He added, in stern and stirring tones, "We're going to make sure that nobody is taking advantage of American consumers for their own short-term gain."

This was a curious decision. If Obama really wanted to stop speculation in the oil markets, he didn't need to create a brand-new task force that would have to start from scratch to deal with a hellishly complex problem that Congress and the CFTC had already spent years studying. "An easier way to deal with excessive oil speculation," one senior Senate aide explains, "is for the president to just pick up the phone, call Gary Gensler and say, 'The Dodd-Frank Act required you to put in strong position limits by January 17th, 2011. Get off your butt and act.'"

The Oil and Gas Working Group turned out to be a complete sham. In its year of ostensible existence, the panel met only a few times, then never bothered to convene again. One source on the Hill tells me that some of the members were not even aware that they'd been named to the task force for months. It was such a Potemkin committee that when oil prices once again shot up past $100 a barrel this year, Obama was hilariously forced to announce that he was "reconstituting" the task force, even though it had never officially disbanded. "It's a joke," says Greenberger, the former regulator. "They've done absolutely nothing."

I Run Bartertown
May 13, 2012 - 7:26pm


"My reasoning is that somebody was selling water after Katrina at a high price. Some b....std walked up and shot the guy in the head and took the water. A shotgun, in my unexperienced opinion, would perhaps be better used to kill a wild pig at a distance."

Short of sniper cover (my lil' girl ) from the rooftop (which I would insist on if I were inclined to sell overpriced water to thirsty people ), a shotgun would be the best tool in that scenario. Too many ways to avoid such a situation, but if I HAD to be in a 'Mexican standoff', I'd much rather be the guy with a 12 ga. They're not for distance. They're for spraying 9 9mm bullets at a target you can acquire quickly and don't need to be too accurate. Mossberg 500 might be a good one to look at. Might want low-recoil ammo until the wife gets used to it, but even children shoot them fine with practice.

If portability is an issue, sure, a handgun. A handgun is really just for fighting your way back to wherever you left your rifle/shotgun . The Ruger P95 is inexpensive and reliable. Doesn't kick much. I'd personally avoid ones cheaper than that. I've seen it compared to the AK47 for simplicity and reliability.

May 13, 2012 - 7:31pm

JFK consiracy?

I decided to visit Dealey Plaza today to see if any new evidence turned up.

About where the first shot hit.

The view from this point. For some reason, a live oak has grown over 50 years to obscure the 6th floor of the Texas School Book Depository (conspiracy?). Hmmmm.

More later

May 13, 2012 - 7:38pm

Conspiracy part II

Did you know a ASE held at arm's length can obscure 3 floors of the Texas School Bood Depository?

Where the 2nd and 3rd gunmen were hiding. The Illuminati sell some great tacos from a truck in this parking lot.

An overview. The distances are not that great. I've hit birds with a pellet gun at these sort of distances. Sharpshooting skills are not required.

El Gordo I Run Bartertown
May 13, 2012 - 7:42pm


For close in wet work, a short barrel 12 guage pump shotgun such as a Remington 870 is hard to beat. It makes a very distinct sound when you rack a shell into the chamber. I don't know the statistics, but I would bet that, at least after the first shot, most people who are shot this way are either very slow to react or they are shot in the back, because just the sound of racking a shell should be enough to scare off just about anyone with a few functioning brain cells. Secondly, those who are so unfortunate to remain somewhere in the line of fire often wind up like Humpty Dumpty in that all the kings horses and all the kings men can't put Humpty together again.

May 13, 2012 - 7:50pm

Conspiracy part III (finally)

The only thing with Illuminati inklings is this oblisk without an eye on top. In fact, the Dallas Fed is obscured by the TSBD building itself.

Full disclosure, I subsrcribe to Jim Willie's newsletter.

I remember telling my accountant in 2006 (So CA) that GM was going to go bankrupt, the banking system would collapse, and So Cal real estate would lose half its value. He almost dropped me as a client when I said this, but a year ago he said that pretty much everything I predicted (Jim Willie said, that is) had happened. Of course, he still doesn't own gold, but he did say that his grandparents sewed gold into their clothes to escape Germany (no joke).

May 13, 2012 - 7:53pm

From Clif High,.starting May 14th

Banksters are taught a new phrase (starting on May 14th)....planet wide, by the way.... Anticipatory repudiation

May 13, 2012 - 7:54pm

one more pic

The concrete structure is showing its age, but at least O hasn't taken credit for it.

I Run Bartertown
May 13, 2012 - 8:03pm
May 13, 2012 - 8:03pm
May 13, 2012 - 8:12pm

Report says 230,000

Report says 230,000 unemployed losing benefits over weekend

May 13, 2012 - 8:17pm

Italian anarchists kneecap

Italian anarchists kneecap nuclear executive and threaten more shootings Bada bing..bada bing.. Patellaless

Stratajema Orange
May 13, 2012 - 8:19pm

Re: Need some advice on GUNS

The answers are:

1. the gun that fits in her hand (often a problem for petite ladies),

2. the trigger (weight) she can pull without moving the gun off of its target (a problem in some states that require guns have a 10 pound trigger weight),

2. the gun she can understand (e.g. simplicity of a revolver versus a pistol)

3. her ability to handle a gun's recoil, which may limit her choice to guns having a lower caliber ammo.

4. the gun she likes and is not intimidated by, so that she practices with it often

5. the intended use of the gun (concealed carry versus nightstand warrior)

6. whether are not there are young children in the house or young children visit.

7. whether your state has restrictions (e.g. communist states of Massachusetts, California, New York, New Jersey, and Hawaii) where only certain models of guns can be sold.

Notice how I didn't mention any make or model of firearms. Without knowing what state you live in, or knowing your wife's capability around a small or large firearm, it is senseless to make a recommendation. But I will give you one bit of advice, save your money and pay extra for a well-made firearm. That usually means spending no less than $400.

ClinkinKY recaptureamerica
May 13, 2012 - 8:46pm

Report says 230,000

Submitted by recaptureamerica on May 13, 2012 - 8:12pm.

Report says 230,000 unemployed losing benefits over weekend


Which means the unemployment rate drops again. We're back baby. Yeah!!!

ClinkinKY recaptureamerica
May 13, 2012 - 8:50pm

When I was in Italy in 1977 the kneecapping...

was done by the Red Brigade. Are they back?


Italian anarchists kneecap

Submitted by recaptureamerica on May 13, 2012 - 8:17pm. Hat Tip! 1

Italian anarchists kneecap nuclear executive and threaten more shootings

Bada bing..bada bing..


May 13, 2012 - 8:52pm

Jim Willie; thank you !

I registered just so I could say a big THANK YOU for JIM WILLIE podcast !

Dr G
May 13, 2012 - 8:55pm

Wonderful and brief (5

Wonderful and brief (5 minute) interview with Jim Rogers. He has insiders that control the markets whispering in his ears.

Link: interview here

May 13, 2012 - 8:58pm

Clinky, exactly... On Bizarro

Clinky, exactly... On Bizarro world Htrae, its possble for everyone to not be working , not collecting benefits, and then have 0 % U.E...go figure

May 13, 2012 - 9:07pm


I bought myself a Mossberg 50421 shotgun with a pistol grip and an adjustable stock (I'm short, but not short enough for a kid-size shotgun.) Short fits me perfectly, long fits my hubby perfectly. I love it. FWIW I hate those lightweight pistols...too much recoil for me. If that's a problem for Mrs. O take a look at something like a Ruger SP101. The weight of the gun helps absorb the recoil. There's a model with a spurless hammer and a snub nose, perfect for CC. (It ain't cheap, but you need to find the right gun or it's worthless when you need it most.) You can use .38 cal for the firing range and .357 mag. for more serious events.

May 13, 2012 - 9:09pm

Guns, Testosterone, and SWIM.

Guns are like a$$holes - everybody has one and they all think theirs is the best. Ask 50 people and you'll get 50 wildly divergent answers. The Gunnies are a fractious, opinionated group. Sorta like Turdites.

That being said, my suggestion is to get her into the largest bore she can comfortably and reliably handle. Then teach her to use it blindfolded, upside down, left-handed with jalapeno juice in her eyes and a Walmart sale going-on around her. Nothing beats confidence and familiarity... except when you pair it with sheer downrange energy.

I'm an auto-pistol guy myself, and I'm comfy shooting anything from a 9mm to a .50 cal Desert Eagle. I carry (a pair, always a pair), and depending on the environment and the concealment needed, will vary what I carry. In summer, the little Walther pea-shooter gets the nod. If I'm going into a hot zone, then the loadout changes fairly dramatically.

Funny story: Someone-Who-Isnt-Me (SWIM) was in downtown Houston and had a run-in with a couple of urchins in an underground parking lot. SWIM was packing the Eagle and a little S&W bootlicker for backup. The Eagle is just an obscene, *Monster* of a gun, and its best known for intimidation and not so much for getting in a clean second shot. But SWIM isn't exactly a 'Noob... nor is he "petite". SWIM is somewhere north of 275 lbs and comes with a terminally bad attitude when confronted by Robin Da Hood Liberals. SWIMs first round went wild (no clean target) with no other intention than to back them up and get their heads down. They retreated to the vehicle and then tried to run SWIM over. In reverse. Wrong answer. Second round went through the trunk, the seatback, Jamal's shoulder, the windshield, and then killed a perfectly good "Exit" sign 40 yards away. (Cost SWIM $800 to replace that exit sign. heheheh). Third round went completely through the trunk, gas tank, rear bulkhead, front firewall, tore the cover off the power steering pump, and exited through the radiator. And it still had enough energy to make a whopping dent in an elevator door. The 4th round went cleanly through the windows. They never found it, nor did anyone look *too* hard.

The next day SWIM ignored the ringing in his ears long enough to go see Ol' Jamal in the hospital, uninvited. That fine young man couldn't figure-out who SWIM was or why he was standing there wishing him well. The realization finally dawned on him when a freshly-spent .50 cal casing was tossed onto his sheets. That got the BIG eyes. Final words? "You best get right with God because I'll be waiting".

Moral of the story: bigger is always better, up to the point you can't control the weapon anymore. :) If you can bring a long-gun, so much the better. Its all about putting energy into the target and making nice, big exit wounds, so the bigger the better. Also of good note: if you bring a terminally bad and aggressive attitude to a fight, you more than double your odds of living to fight another day.

Or so I'm told. :)

For the record I personally abhor violence, prejudice, and I despise all you RePubeLickCans who are trying to kill the entitlements and unearned compensations that I live for. And of course, when guns are outlawed, we'll all be safer. (Yeah... go with it).

May 13, 2012 - 9:16pm

Deja vu or uh-oh?

I'm leaning more towards 'uh-oh' but the deja vu part of this seems like a script we've seen before or at the very least could go in that direction if everyone is on board with the need for overt and official QE to happen soon. I failed to mention earlier in the litany of negative things lined up is that there is a distinct and definite date where the US debt ceiling is also going be breached from now until the elections. Throw that in the mix also.

The need for more debt ceiling room and spending is going to happen no matter what so maybe this has something to do with it in a very roundabout way to get to that point. That would be the deja vu part.

There are large parts of this that have me going 'uh-oh-' and it's partially a fear based realization by myself at this time that we seem to be at the point where the Fed will have to make a choice very soon between the U.S. banks and/or the EU at the same time when the magnifying lens on CB's and the Fed/USD in particular are being focused even tighter on the ability of the lenders of last resort to actually have that ability or qualification any longer. Whatever happens to JPM and why it's happening is symptomatic of something much larger then the risk exposure that JPM has on (or probably hidden off) their books. It's indicative imo of the overall US/Fed exposure that I think is going to come to light after all is said and done. The Fed swaps must be in the many trillions of USD in potential leveraged exposure in this latest ECB/Fed swap since last fall of 2011. I'm starting to seriously think the only reason we keep bailing everyone out as much as possible (except US citizens) is that we want them beholden to us (USD) for as long as possible because the amounts they owe are probably mind-numbing to not only comprehend but also to pay back or the consequence of defaulting or reneging too dire to consider. Unless repayment is in gold maybe

The other part of this that has me going 'uh-oh' is that this could be some type of purposefully disruptive JPM move that they're choosing to make at this point to hasten or close some drastic commodities or equities position they are stuck with and hope to get bailed out of by the Fed or Treasury. That type of move would show control and the ability to realize they'll get bailed out in public or private by the Fed. and that they're not out of control and losing a grip on their System Of Managed Chaos/SOMC. That would also mean (to me) that the Senate banking committee or SEC or CFTC will never fully look into any or all of JPM's questionable commodities and securities positions. This would mean that JPM and others will eventually skate away free from much of what we think is going on in the PM markets before any litigation gets started if it ever even gets to that point. Those positions will no longer exist and possibly the need to look further by the SEC and CFTC will be greatly diminished at that point. In that scenario JPM gets off free and gets to go long after all is said and done. We'll soon find out if that's the case because PM's or commodities will scream upwards if they did indeed take the other side of the trade we all talk about and are clearing their short decks with this latest move that's still revealing itself in scope.

That's the scenario I'm hoping for even if it allows the Morgue to keep on doing what they do for awhile longer except that they'll be doing it on the long side of the PM's/commodities etc. and not smashing price down. I realize that goes against the grain of what many of us think on here (myself included to a point) about wanting to see them pay and get crushed or go belly up etc.

This brings me to the other part of the 'uh-oh' which I hope isn't the case but just might be so. If the biggest US bank is so out of control with gigantic and unmanageable positions and has the audacity or psychotic nature to believe they can control anything no matter how big or foolish the risk is and they can't actually pull if off then were all screwed on a level and on a pace we can't even begin to fathom imho. When I hear the head of the biggest US bank start scolding the former Fed Reserve Chairman (Volcker) about not knowing how to handle risk and monetary policy then I know we have a little Napolean in our midst who seems to think he should be able to do whatever JPM needs or wants to do no matter the consequences to anyone. Someone of that nature in a position to influence matters on such a level either willingly or foolishly (both) can't be thinking realistically on some levels so the outcome of what they set out to do and thought they have control of is suspect and probably not going to work out like they had 'envisioned' in their egocentric way that they do so.

No matter what happens, I think were at a fork in the road (not only because of this JPM $2 bln loss) and the moment of truth is very close at hand one way or another. They're either in full control (The Fed and/orJPM) and this is part of something bigger we don't have a full grasp of yet or they're losing control of what they had thought was manageable and had until now been managed shrewdly and effectively for so long.

If they're losing control of the SOMC then the 'uh-oh' part of this is the realization that the MOPE in life is going to quickly become toast.

If they're in full control then the 'uh-oh' part of this is also laced with deja vu and the lousy realization that they're still in Napoleanic control and still have a firm grip on our daily MOPE.

The question is....would it be better if they crash and burn due to their mismanagement and bring the whole house of USD cards down with it or would it be better if their control had the effect of stability even if it was a false MOPE one?

Would you rather see it melt down and melt away or stay alive and keep the stability we seem to have in place for that much longer? It's not like we have a choice either way and that's the part of it where I wonder if JPM crashing and paying up is what we really want or is it just the PM's we want to go up regardless if JPM goes down in flame? The same flames that will burn us all in some fashion if JPM goes belly up.

I think were on the cusp of something really big and I'm a bit leary if it's a big power play that's just starting to show itself in this manner or if they've simply lost control of what only a manipulative and egocentric Napoleanic frame of mind believes to be the right way to go about things in business and in monetary policy.

I think were about to find out exactly in what direction this heads and if it's under control and being steered or if were rudderless and being run up onto the rocks with a bunch of Napolean's at the helm who have a certain mindset that includes no compass.

One nagging part of this that I can't reconcile right now is the somewhat abstract thought that JPM is in someway leaning more in the favor and bidding of the Chinese Govt. and the future business they might someday do with China and not the possible damage they might do to the US economy and markets here. In some ways that makes the most sense if you believe that western CB's and their bankers are psychologically beholden to capital and making markets and profiting and controlling them and going where the money is. They're flag is made of fiat and not one of nationality. They have no shame or patriotic obligation obviously.

Is JPM playing the U.S. off the Chinese essentially the same as playing both sides of the ultimate CB market and hedging both sides of that trade? Weakening the Fed would make sense if there is an ulterior motive based on future capital needs and if JPM thinks they'll have access to more capital that might actually become much stronger sooner then anyone realizes. The yuan and the many surplus trillions of it that China has would be a bankers dream come true if they could access it, wouldn't it? I seem to recall recently that JPM was granted some unprecedented and unique banking status in China for a western bank for the first time. H'mmm.

I think something big is just getting started and it all starts with this uncharacteristic and out of the blue JPM $2 bln loss but I think it opens up and ends in something much bigger and unforeseen at this point. There seems be no shortage of negative consequences no matter what's at play here regarding JPM.

Are they in control or out of it...or do they have someone else's best interests at mind and are playing both sides of the CB hedge coin?

May 13, 2012 - 9:16pm
Hold over
May 13, 2012 - 9:42pm

 Im thinking JP Morg , may

Im thinking JP Morg , may try to dump as much worthless paper on to the market as possible,pushing the metals down even more . And let the sheep swallow the paper poison . You know, spread the loss around a bit.

Oh ,and The Euro is @ 1.35 !!!!!!!! Yeah, 1.35 !! WTF??Do you see the train now??? Off the top of my head , I think thats like a near 50% loss from a few years ago.

Something feels very wrong man , My fucking spidey senses are tingling hard.

The Bernak like it or not ,is going to be forced to print soon .

Honestly , I cant see this bad joke of an economy lasting more than a few years .

I can see a deflection story coming out this week to help surpress the market news ,

I dont know man, this is just not looking Kool.

May 13, 2012 - 9:45pm
May 13, 2012 - 9:55pm

Get a .40 cal ACP

smith and wesson makes a great .40 cal semi-automatic pistol, it holds 15 rds in the clip, has an interchangeable backstrap to fit any sized hand, recoil is manageable, ammo is plentiful, and stopping power is good. The gun is durable, simple to field strip and is ambi-dexterous, the price is reasonable as well, and with S& know you're buying a decent product

May 13, 2012 - 10:17pm

@Orange... Stratajema and Roark have it right for handguns.

Period. We went through this on the old blog and for handguns, I typed what Stratajema did almost verbatim. Anyone who says, "Buy a [insert brand here]" is to be instantly ignored... even if they have a lifetime in law enforcement or whatever... it's an instant tip off to me that the person you are talking to is NOT a professional in gun fighting and has limited to no experience on the "two way range." Being a cop, a soldier or working in a gun shop, even for 20+ years, doesn't make one an expert.

For in the house, yes, a simple shotgun is practically impossible to beat... as was said, and I've heard the same exact quote from the Aussie SAS to our own... "that's nine 9mm rounds every time you pull the trigger." Remington 870 and Mossberg 500 are easy choices, low recoil rounds are a good suggestion especially for a 12 gauge That said, I'm now a total believer in the Remington VersaMax autoloader, it truly has the recoil of a 20 gauge (which women and kids love) even with 3" magnum rounds and they now have a "tactical" version. I'm not into the whole "the sound of racking a round" crowd... it's a good way to wind up bleeding or dead... in that situation, my first audible sound is going to be "boom."

Bottom line for the handgun and the shotgun... buy a chambering that she will be comfortable with recoil wise, that fits her hand, that gives her a natural sight picture upon presentation, that is high quality... then buy THAT one.

Then, go put at least 200 rounds through it just to smooth it out.

Then, as Roark said, TRAIN TRAIN TRAIN... if you go to the range to punch holes in paper, you are wasting time and money while feeling better about your "skills" which will probably result in your death in a gun fight.

TRAIN TRAIN TRAIN and not with a moron... take a vacation out west together and take a 2-3 day practical course from pros. Do it once and I guarantee you'll go back again... and again... and again... it's pretty damn fun. ;)

FWIW, and I have different requirements that most here, but I fire on average 1,000 rounds of pistol ammunition and probably 5x that per month.

You have to drill real drills... it's ALL muscle memory in real life once you have the adrenaline dump and you lose all fine motor skills... "real life" is like shooting with oven mits on until you get used to it. And like Roark said... strong hand, weak hand (most people don't realize that in real life, people in gun fights tend to focus on each others weapons and naturally end up shooting at what they are focused on and a lot of shooting hands get taken out)... also need to practice reloading one handed (you can rack between your knees)... the point is, go to a 2-3 day course at a real program... it's fun and even experience people come away with "I thought I knew something, but I now realize that I didn't know shit."

Plus, it is a LOT of fun.

Oh, and here is something for EVERYONE to try, regardless of what your skill set is. I'd like EVERYONE that shoots regularly to try this and post back their experience... people that have been in actual combat or gun fights will know what I am talking about...

Instead of walking calmly up to the firing line where you leisurely pick up your weapon, ease into your stance, start breathing to control your now slightly elevated heart rate, take careful aim, and squeeze the trigger... try this:


That should be good for a few laughs, but it is as close as you can get to replicating the adrenaline dumb you will have in a real life situation.

Here is what I predict: you will sprint, you will pick up your weapon... your hands will be swaying so badly and your breathing so ragged that it will take you 5-10 seconds to get off your first aimed shot. YOU ARE DEAD.

Now, go pay for the good training. I work with pros every day I'm out of the country, but I still go a couple of times per year and pay for a couple of guys I really really trust because we are always learning.

Roark Fortinbras
May 13, 2012 - 10:43pm


You da man. :) Sing it, bro!

I can't count the number of times I've seen yuppies with pea-shooters at the range playing the "1-2-3-relax-4-5-6-inhale-7-8-9-squeeze" mantra who think they're duplicating a gunfight. While they're still trying to "control" themselves, they're just accumulated some subsonic bits of base metal.

An ex-instructor of mine once made a demonstration: He started fast-walking at the target firing with one hand. At the end of the 15 shot demo, he asked what he did wrong. We all thought it was not having both hands on his weapon. Wrong. He brought the weapon smoothly back up and pounded another 15 rounds into the target. WTF? Turns-out the *other* hand had pulled out *another* clip... and smoothly racked it in one fluid motion. .. all in those 8 seconds it took to empty the gun. We never noticed. And we were paying attention. :) Lesson learned. You evolve tactics based on the situation, and if the situation demands more rounds down-range in a short time, you better have that second clip ready... and to hell with the ethic of "the average gunfight is 2.4 shots at 8 feet". There aren't any average gunfights unless you want to become a statistic.

The Body
May 13, 2012 - 10:56pm

@ SilverWealth & Others

“What I want to happen and what will happen are two different things.” = + 1 Hat Tip.

“Would you be all that disappointed if silver didn't get to $26. While I used to enjoy your posts, you've seemed to be a bit of a downer lately. You're starting to sound like Stratajema, our designated contrarian antagonist..” = -1 Hat Tip

There seems to be a lot of negativity toward folks who are clearly on the right team but are expecting bad things to happen. This isn’t about how we feel or about being optimists and bubbly; it’s about trying to figure out what will happen in reality given all of the depravity and evil in the world and to prepare accordingly & as best we can for it.

We can watch Ron Paul fight the good fight, we can read Austrian Economics all day, we can memorize every word of Ayn Rand ever wrote, we can pour day and night over Turd’s passionate words of wisdom, we can shout until our throats bleed for what’s is right, but at the end of the day if the good guys don’t win the battles, it will have been worth its weight gold trying to figure what the shitty mess TPTB will leave us looks like and, as importantly, how it will it will get there.

Pretend like we win our currency battle and physical gold and silver go through true price discovery. I would suggest everyone think about that long and hard. Do you really believe TPTB are going to let a wealth effect like that actually happen? I have serious, serious doubts if gold ever saw $10,000/ounce or silver $500/ounce, we would ever be able to legally use that newly discovered wealth. Whether it be outright confiscation, absurd taxation or some other unthought-of gun-backed hammer, I am sure the powers will be out for a gigantic piece. Seriously, have you guys thought about what you would do if that happened? Scray stuff, that is.

I love the good guys – it astounds me the patience and fortitude someone like Ron Paul has – to deal with the ostentatious amount of bullshit he deals with and to just keep fighting – it’s absolutely amazing, but the reality is that the good guys get screwed… a lot. Our cause is no different. Stick to your convictions; live the righteous life; be as prepared as you can be but never let yourself be blind to what the bad guys are thinking, because more often than not, they get their way. There are a lot more of them than us.

May 13, 2012 - 11:21pm

beep Beep BEEP!

That beeping noise, it’s ME!

I’m backing up the truck, and for the next month to month and half, that will be my truck.

Metals are going down and IMHO this is the last SALE! Today 500oz I may even go as far as to get 500oz on a credit card!

I have done the numbers my lowest call will be 25.75 for a short time (i.e. hrs) . BUT!! THE SALE COULD END AT ANY, ANY, ANY, TIME.

We are at the trigger time, IMHO only. I have been sitting on FRNs for too long and for me it’s time to convert to silver, or gold if you are in that camp.

One in the hand kind of guy :)


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Key Economic Events Week of 5/20

5/20 7:00 pm ET CGP speech
5/21 10:00 ET Existing Home Sales
5/22 2:00 ET FOMC minutes
5/23 9:45 ET Markit PMIs
5/24 8:30 ET Durable Goods

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TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
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5/15 9:15 ET Cap. Ute. and Ind. Prod.
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5/9 8:30 ET US Trade Deficit
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5/9 10:00 ET Wholesale Inventories
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