TFMR Podcast #26 - David McAlvany of McAlvany Financial Group


I met David McAlvany last month at FreedomFest in Las Vegas. I asked him to come on for a podcast and he happily obliged. I'm glad he did.

At FreedomFest, I showed up the first morning to hear presentations from John Browne and Peter Schiff, both of EuroPacific Capital. They were terrific but so was this other guy who I'd never heard of before. His name is David McAlvany and I was immediately struck by the feeling that here was someone who "gets it".

Since I'm often asked if I "know any good financial advisors", I thought that David would be a good person to introduce to Turdville. He seems to see the world as we do and he is doing his level best to warn the masses of the coming disasters. His firm is producing a three-part video series that promises to be educational and informative. The first video came out a few months ago and is linked below. I strongly encourage you to take some time to watch the video once you've finished listening to the podcast.

If you suspect that David and his company can help you in any way, more information can be found at

The Fuse is Lit | European Perils | Part 1


Aug 25, 2012 - 6:04pm


Maybe this has been discussed here at some point but wanted to get peoples opinion on holding allocated goods out of the country. Does it really matter in that big brother will know how much and where it is anyway. Do these companies have to state this to government? If it is held outside and they wanted to have a piece of it wouldn't there be such a long paper trail that it would not matter anyway.

Hope someone who has some knowledge on this can or experience shed some light to me.

Great podcast Turd

Aug 25, 2012 - 5:16pm

@Dawg - RE: BofA cash withdraw limits


We've discussed these cash withdraw limit issues previously on this blog.

We've previously documented the fact that the cash withdraw limits are falling.

When we go into banks that pull this stunt, some of us business guys turn around and intentionally ask for cash out of an additional $1000 cash in large bills.

This forces the bank branch to either give us the money or shut up about their cash withdrawal limits.

Personally, I'm sick and tired of the attitude at these banks and their pathetic branches where a teller tells me to stop pulling my own money out.

It's my own fricking money.

And, in return for the lousy Federal Reserve Banking rules, we have to put up with the FRB system limiting access to our own cash?


Give me MY money, or we pull it ALL.

So, far, when we play hard ball, the local branches shut up with us.

Now, go sic' em! and tell 'em where you got that info...right here from the guys who will pull more if that branch doesn't quit with the withdraw limits.

Aug 25, 2012 - 4:53pm

Even so, if you wanted to buy things with your gold

You more or less had to resort to the black market for it.

I think that any time a deposit box was opened back in the '30s, the feds wanted to know what was inside it, and if there was any gold, they would scoop it up and throw you in jail. I don't think a lot of deposit boxes got opened.

My guess is how this will play out (and this is the big reason I'm into bitcoins) is that it'll go something like this: gold -> black market -> bitcoins -> local paper -> investments.

It could be that all of us are small fry and won't matter much in the grand scheme of things. They might only decide to screw you if you try to move anything in size. But I'd suspect that when it comes time to sell into the mania, you're probably going to be wanting something other than dollars for it and you may be making some dodgy moves to complete the transaction.

Aug 25, 2012 - 3:32pm

Good podcast....

I really enjoyed hearing David's thoughts, especially about gold confiscation. Thanks for this podcast! Hope everyone has a great weekend.

Putting in a bucket watering system in my garden plot today. If you are curious, here is a great link for how to do one.

Just look under tutorials.

They are used in places where water is scarce, but also very convenient for the square foot gardener as well!

Aug 25, 2012 - 3:29pm


Sorry to hear about that. I hope they didn't get too much.

Too bad you didn't catch them in the act and get a chance to release your inner 'Dirty Harry' on them.

And I don't mean Prince Harry

Aug 25, 2012 - 3:25pm

What a day

My day consisting of learning how to make biodiesel, then caught in a thunderstorm, my team won big time and then I got home to find I'd been burgled!

Aug 25, 2012 - 3:13pm

One more thing ...

My calendar says there is a "bank holiday" in the U.K. on Monday. Is this something that is still observed, or is it a holiday that has lost meaning over the years? Perhaps a U.K. Turdite can answer that question.

If a bank holiday is observed, is the LBMA open for business or is there no connection? Haven't seen any comment suggesting that the LBMA is closed Monday.

wax off

Aug 25, 2012 - 3:08pm

Connecting dots

Had a lot more fun yesterday, connecting dots on targets with a 9mm, 40 cal., 45 cal and a .223! Need to do that more often. $100 worth of ammo well spent.

wax off

Aug 25, 2012 - 3:05pm

Speaking of manipulation ...

Something has been bothering me this week, but I don't have the knowledge or experience to connect all of the dots.

In a relatively short period of time, the 10 YR. went down below 1.50% to just above 1.80%. It fairly quickly dropped back to about 1.65%. Seems like a lot of movement for something so widely traded. My issue is this: We know JPM got badly burned by some IRate trades by the London Whale. The true extent of JPM's losses still haven't been fully disclosed (to my knowledge). We know (thru Murphy, Willie, and Turd) that JPM is up to their ass in alligators with their silver trades. With their trillions in derivative positions, it seems safe to assume they have many positions constructed around the 10 YR. Do you suppose that the sudden move from sub-1.50 to over 1.80 caught them with their pants around their ankles? With his life flashing before his eyes, Jamie had to be getting a little concerned.

The London deal is water over the dam. Can't fix that. On damage control now. The silver situation is ugly, but with time, can probably be somewhat controlled as well. This one is probably important to The Bernank (and others) because they don't want the completely lose control of PMs. A PM price launch during the next 2 months could seal OBAMA!s fate as a 1 term president. JPM probably busy dealing with those issues these days.

So, how did the 10 YR suddenly reverse course? Why? Is there a deal going on here to bail out JPM's (possible) 10 YR derivative positions that were about to blow? Where are the 10 YR purchases coming from that are driving the rate down? Can't be Japan, China or any other buyer of size. Japan has their own problems. China is busy buying PMs. Europe doesn't have 2 nickels to rub together. Has to be the FED doing the buying. QE3 without the drama of an announcement? Is JPM's IRate derivative salvation pure coincidence? Am I just trapped by my own notion that JPM had (has) an IRate derivative problem? Is that move from 1.50 to 1.80 to 1.65 in a few weeks no big deal? I don't know and that's what's bugging me. I haven't seen any comment on those rate moves in the 10 YR. Help me out, Turdites. Please. If I'm just seeing a manipulation boogie man where there is none, I'll shut up and go can some apple pie filling. (Going to go do that now anyway.)

wax off

Aug 25, 2012 - 1:59pm

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 10/19

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

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Forum Discussion