TFMR Podcast #30 - Detlev Schlichter, author of the book, Paper Money Collapse


Earlier on Friday, I was able to visit with economist, author and blogger Detlev Schlichter.

Current events dictated that now would be the perfect time for me to introduce you to Detlev. With the re-introduction of overt QE and the impending American elections, there's a lot of talk currently about Keynesian economics and the supposed benefits of deficit spending and unlimited fiat creation. As a committed Austrian economist, Detlev does a brilliant job exposing the fallacies of these policies as well as highlighting their inherent dangers, not just to the global economy but to individual freedom and liberty, as well.

I'm confident that you'll enjoy this podcast (even though we had a brief, technical glitch at about the 7:30 mark). You should also give great consideration to buying Detlev's book. Read it yourself and then pass it along to friends and family who, as yet, fail to grasp that the end of the Great Keynesian Experiment is truly upon us.


Oct 19, 2012 - 1:46pm

2nd maybe

Hey Hey

Daedalus Mugged
Oct 19, 2012 - 1:46pm

Timing is good

I have asked for Detlev's book last week via interlibrary loan, as my county library system didn't have a copy.

Oct 19, 2012 - 1:55pm


Nicely done, and thanks for continually bringing us all of these fine guests in your growing archive of podcasts.

Oct 19, 2012 - 2:00pm


you have once again helped weaken my confidence in the dollar. stay the course. keep stacking. i think i will go and create some REAL economic activity down at my local coin shop today.

Oct 19, 2012 - 2:08pm

Central Fund of Canada...

...has filed a preliminary base shelf prospectus for an offering amount not to exceed U.S.$1,000,000,000 today.

Central Fund will only proceed with any such offerings if they are non-dilutive to the net asset value of the Class A Shares owned by the existing Shareholders of Central Fund. Substantially all of the net proceeds of the offering will be used for gold and silver bullion purchases in keeping with the asset allocation policies established by the Board of Directors of Central Fund. Any additional capital raised by any such offering is expected to assist in reducing the annual expense ratio

Money By Trading
Oct 19, 2012 - 2:28pm

Around the Corner: Huge Buying Opportunity

Stacking is a great way to save yourself from selling into weakness.

I think we will have another great buy-and-hold opportunity no later than a week to 10 days from now. We only get 2 or 3 this good per year, IMO.

Mr. Fix
Oct 19, 2012 - 3:05pm

Thanks Turd!

I love your podcasts.

Henry Frap
Oct 19, 2012 - 3:16pm

Liberty Coin Service to the rescue!

Hat's off to the kind courteous staff at Liberty Coin in Lansing MI, the place I go to shop for phyzz. The place was abuzz as usual, with people dropping off sacks of old silver coins while others were busy selling silver plated tea sets, etc., Guys like me were there to purchase stackable retirement accounts.

Thanks to the troops here at TF Metals, as I've learned so much in the last several years.


Admiral Ag Bar
Oct 19, 2012 - 3:52pm

Thanks Turd

Another great podcast!

We really are the smallest of a minority of people who can see the impending disaster while the vast majority blissfully munch on grass (and ipads). I tell ya... it is going to be bittersweet, to say the least, when this farce of a global fiat economy self-destructs. It is going to suck the worst for those family and friends who were exposed to the concepts but their strong cognitive dissonance prevented them from objectively seeing what is going to unfold.

I have stacked all the phyzz I can. The wife has reached the limits of her patience with my now 1.5 year underwater investment. These hands are strong and I am in for the long haul. However, I am now stacking cash like a madman to help make the life-altering transition from a desk jockey paper pusher to an actual producer. I have a one year plan to move a warm rural area near my wife's family and start a small home business growing organic produce and edible plants. Much to the disbelief of my friends at work, I am going to walk away from my stable good-paying job to live a much simpler and inexpensive life. In my small way, I'm going Galt. I can't wait!

Best of luck to all the Turdites in your endeavors. See you on the otherside.

Video unavailable
Oct 19, 2012 - 4:46pm

While the stackers are once again pissed, and rightfully so...

Those holding PM stocks are breathing a sigh of relief. GDX an etf for major miners actually went green with a $20 Gold raid. Most Silver stocks with a $0.72 raid didn't fair all that badly, considering. They were down, but it could have been worse on a 2.25% decline.

This all took place with a 200+ Dow drop and a 26.50 S&P drop.

Like I said in a past post, it looks like the EE can drop the price of PM's but not the price of the PM stock shares all at once. This happened today. To me it shows that they are running out of ammo. They can't do both at the same time anymore, it would appear.

The only difference between Romney and OBama is which one will go to war with Iran the fastest. The only thing that will save the Iranians is a further drastic devaluation of their currency and an overthrow of their assholic Mullahs. They have 2 to 4 weeks to do this. That's not enough time. So war, it will be.

What this Black Vulture will do to the PM markets is totally unknown, but going by today's action, gold and gold stocks should soar, while the rest of the market tanks.

Oh! Yeah! The oil market. I doubt that China would be in favor of Iran successfully closing down the Straits of Hormuz and getting cut off from their Iranian oil. There must be enormous pressure from the Chinese. On the other hand, the Russians stand to make a fortune, if the Straits are closed and the price of oil doubles in a matter of days.

I suspect that the Chinese and the West would just as soon see the end of the Iranian nuclear venture and their Mullahs as well. Heaven may have to create hundreds of new virgins to satisfy the newly created Iranian matyrs.

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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