TFMR Podcast #22 - John Butler, author of "The Golden Revolution"


Of all the podcasts I've recorded, this is certainly one of the most important.

Our pal, Ned Naylor-Leyland, introduced me to John Butler a few weeks ago. I'm grateful that he did because John's new book, "The Golden Revolution", is the most important book that I've read in quite some time. At just 200 pages, the book neatly summarizes the history of global sound money, the circumstances surrounding the exit of the previous gold standard and the likely events that will effect and implement the next, global gold standard. Read this book and you will begin to understand how and why this new gold standard is inevitable.

I implore you to purchase this book for yourself and/or someone else. Father's Day is right around the corner and it would make a terrific gift, too. Most importantly, John's book is indispensable in the preparation for the end of The Great Keynesian Experiment and you simply must read it.


May 25, 2012 - 3:58pm

Yes, 2 podcasts

Please utilize the 3-day weekend to listen to them both.

May 25, 2012 - 4:02pm

Removed comment

Removed comment.

May 25, 2012 - 4:02pm


Beat by the Turd himself. I'm honored.

Anonymous mapleleaf
May 25, 2012 - 4:03pm

Removed comment

Removed comment.

May 25, 2012 - 4:19pm

No sound

Mmm... not hearing anything - technical difficulties?

May 25, 2012 - 4:32pm

Works for me

Turn up the volume?

May 25, 2012 - 4:36pm
Be Prepared
May 25, 2012 - 4:59pm

Rocking it... like always....

Two amazing podcasts at one time.... your microphone must have been red hot. Although, I think Jim was doing most of the talking on the last one... :-)

May 25, 2012 - 5:06pm

Day of ranting in favor of fair silver trading

If I take 1oz of Ag bullion to a reputable, official coin shop to exchange for '64 dimes, how many dimes will I walk out with, today?

This is a very simple example to demonstrate where the inefficiencies of the economy lie. This is a silver-to-silver trade! All I want is some 'change'! I was promised that during the last election!!!!

- High taxation (retail purchases in CA ~10% State tax); Federal taxation on gains, of course, etc.
- High premiums (iliquidity measure)
- Little competition due to barriers to entry, regulatory compliance, secret 'you have to show your ID to pay with cash, now, sorry, please help me to stick a boot up yer a$s for making a purchase of a REAL assets', etc.
- Two-way transaction losses, because PM's aren't 'money', etc.
- Any rational 'barter' is de-facto illegal, since in a closed system of barter w/out $USD, there would be no $USD to pay the mandatory taxes.
- BS arguments trying to convince me that ten cents of fiat BS and impurities in my 'silver' coin actually deserves any premium at all!
- Transaction fees, spreads, other fees, interest on loans in some cases, the real cost of market manipulations, and other losses perhaps per jurisdiction elsewhere, etc.
- Post-investment fines, surprise taxes, registrations, mandatory 'education' qualifications, fire code violations, arrests, confiscations, imprisonments, or outright theft when they can't kill the newbie legally, etc. for those ignorant enough to try to actually enter the market and thus create competition and innovation.

This is a great benchmark to weigh either new taxes on PM, or the alleviation of restraints on progress! Tell your congressional b-a$s-tards, and maybe a few would be willing to raise the argument in defense of liberty!

Worse of all, get ready for more demonization of the transaction and those involved in it, not the return to rational trade! This will happen now.


pickaxe TF
May 25, 2012 - 5:13pm

Microsoft - at your service?

Turd, laptop needed a reboot!

Thanks for checking.


PM Believer
May 25, 2012 - 5:16pm

Pod Casts

Wish I knew more about the computer I use. For some reason I get an error code on the Kindle Pod casts you have been using--Oh well!!

May 25, 2012 - 5:46pm

Artistic Premium

"- BS arguments trying to convince me that ten cents of fiat BS and impurities in my 'silver' coin actually deserves any premium at all!"

There is a valid argument for fine artwork. Metal art is great, but coins with old dead guys and now-perverted ideals doesn't really do it for me.

Put on a 60's Mary Ann, or maybe her 26-year old daughter today, if she has one, and yes, even I would be willing to pay a premium. I would be willing to pay as much as 1 silver dime. ;-)

May 25, 2012 - 5:57pm

two in one day!

Turd, you have outdone yourself.

May 25, 2012 - 6:13pm

One Last Thing...

I love how talking heads in late January were saying the Baltic Dry Goods Index ($BDI) was a trailing indicator, (as in, "Don't worry, if it looks bad we are probably in recovery by now.")

How's that working out, now?$BDI&p=W&b=5&g=0&id=p88377476932

May 25, 2012 - 6:31pm

Tulving is out of all junk

Tulving is out of all junk silver. Glad I bought some more in May!

May 25, 2012 - 7:02pm

Silver is Gonna Make these Fools Fall


Crash The New World Order - Buy Silver!

May 25, 2012 - 7:18pm

Thanks Again

Awesome stuff again! I ordered the book. Good brain food. While I keep stacking my metal i'm gonna stack up some knowledge to go with it.

May 25, 2012 - 7:44pm

Great Podcast with John Butler

I have purchased the book and will be into it this wkend (got it on the Kindle). Makes me want to read more of Henry Hazlitt. I've noticed that he has written much more than the well-known Economics in One Day. In 1959, when it would not have been popular at all, he took on Keynes' General Theory line by line in a book called The Failure of the New Economics: An Analysis of the Keynesian Fallacies. Has anyone read that one? It sounds like a difficult yet worthy read.

Also, did anyone catch the name of the professor Butler was referring to that had written a 'classic' on the gold standard? It was someone like Julio Galaroski.......

Thanks again Turd for opening this world up to us. I think about all that I have learned since starting to come to this site a year ago. Such a great host: Such great minds. Makes me proud to be a Turdite. When can I buy a TFMR bumper sticker to put on my car with the Ron Paul and the Abolish Obamacare stickers!!?

May 25, 2012 - 7:57pm

John Butler

Seems like an interesting thoughtful chap.

May 25, 2012 - 8:16pm

Thanks Turd for the follow through

The Butler podcast was a hit out of the park!!! Many, many thanks! Hope your weekend is a great one.

Fred Hayek
May 25, 2012 - 8:29pm

Wonderful stuff again, Turd!

This helps flesh out my understanding of the issues. I'll definitely consider buying Mr. Butler's book.

May 25, 2012 - 8:56pm

Gotta share this...

Like "Jack" above got the book on Kindle.

Lone flyleaf page in front of book before the "Acknowledgement" pages is this simple statement.....

For those waiting patiently for the sunrise.

How can you not want to buy and study this book?!!?!

May 25, 2012 - 9:55pm

Ted Williams Rookie Card for $20... sort of

went into the LCS today to trade in 2 rolls of quarters (yes, 90%) for a 1939 Ted Williams rookie card in pretty good shape and a 2012 1/2 ounce Perth Mint Dragon... and a few bucks back. I'll let you all do the math... what do you think? Still have plenty in the stack and wanted to diversify a bit. And don't worry... I'll get back to stacking the good stuff next weekend after I get paid some fiat again :)

May 25, 2012 - 10:54pm

The Golden Revolution

Have read a few chapters already. Looks good so far. Here's a few quotes:

"To understand what is happening in the world of banking, finance, and economics today, please don't read an economics textbook full of equations or other mainstream, neo-Keynesian claptrap. Read history instead. It may not necessarily repeat but it certainly rhymes."

"A new global gold standard is coming. It is only a matter of time and how orderly or disorderly the transition is. Those who are prepared will prosper or at a minimum protect their wealth during the potentially rough transition period and be ready for what comes next. Those who don't may lose entire fortunes built up with the hard work of several generations. The stakes are high and they are real. It is time for us to leave the false comfort of our fantasy fiat currency "wealth" behind and get on with the business of practical preparation for the inevitable. And don't expect our so-called leaders or representatives in government to help. They are more likely to obstruct than assist in this critically important task."

Sounds like quotes from TFMR doesn't it.

steveo Steinbacken
May 25, 2012 - 11:39pm

Huuwah!   for the Mary Ann

Huuwah! for the Mary Ann reference

May 25, 2012 - 11:46pm


Well, it was payday and I worked my butt off (what's left of it) last week. So I picked up a couple of these that will never see the light of day until the SHTF.

May 26, 2012 - 3:24am

Butler says gold is not

Butler says gold is not manipulated by the Fed. He's completely wrong. Gold is controlled every single day by the Fed. That's why gold will never move dramatically higher. My long-term forecast is $3,000 by 2015. $10,000 gold is a complete joke. It will never be allowed to happen. The Fed will simply change the rules before it gets that high.

May 26, 2012 - 4:50am


People have been predicting a return to the gold standard for 30 years. It will never happen. Ten years from now, you gold bugs will still be talking about a collapse of the Dollar. The Fed controls everything.

May 26, 2012 - 6:45am

Thanks TF!!!

Great podcasts!

May 26, 2012 - 7:59am

Gold-Backed currency

Great interview - thanks. Trouble is, this gold-backed currency sounds remarkably similar to one the Globalists have been advocating for some while now, and I'd like your comments on these observations, please:


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