TFMR Podcast #34 - Another Willie


The Golden Jackass returns today with a conversation that revolves around the debt, the dollar and what is to come.

I realize that we just spoke with Jim a month ago but there are so many wildfires currently blazing around the world that I felt it imperative to bring him back in today. This podcast is of a somewhat different format from previous discussions, though. There are big topics mentioned here and I wanted you to hear Jim's unique perspective, uninterrupted. Therefore, you'll likely notice that I speak very little and with few follow-up questions. My goal was to simply ask Jim a question and then just shut up and let him answer it.

If you're a fan of The Jackass and his immeasurable wit and wisdom, then you're certain to enjoy this latest podcast.



Dec 7, 2012 - 2:51pm

top 5 :)

I'm moving on up.

Double Bogey
Dec 7, 2012 - 2:52pm


I second that emotion. Off to the LCS to kick off the weekend on an upbeat note.

You guys are modern day Laurel and Hardy!

Dec 7, 2012 - 2:54pm


Can't wait to hear more!

Dec 7, 2012 - 2:58pm

I like Jim Willie

that guy makes me think outside the box whether i agree with him or not (or understand him either)

Dec 7, 2012 - 3:03pm

Good Suff

Jackass and the Turd!

Thanks to both of you!

Motley Fool
Dec 7, 2012 - 3:11pm

Dr. Willie

If interest rates go below zero, would the capital gains on those bonds still increase?

Dec 7, 2012 - 3:16pm

Still a bit upset about you

Still a bit upset about you both wanting Bishop Romney to win, even though we all know that US Presidents are chosen, not elected! But hey, takes all sorts...

But anyhow, JW is always stimulating to listen to. What about Morgan Stanley, they were supposed to fail? Still to come?

And recently Lindsey Williams says the (so-called) élite are not ready to pull the plug yet, and want another 3-4 years of debt creation before they move to the new global currency. My question is this:

Is the new global gold-backed currency system run by the new guys or the old guys?

I fear the latter. I've been reading for years that they want to kill the dollar, and we know that the Rothschild's have been working seriously in China for decades.

NB @ Katie Rose: was that you I heard asking several questions to Lindsey Williams?

Motley Fool
Dec 7, 2012 - 3:17pm

I suppose

Prices would move through par and to a premium. Buy at a premium and sell at an even higher premium = cap gain.

Not something I'm worried about, though. I don't own a single one.

Dec 7, 2012 - 3:18pm

As opposed to what? Hoping

As opposed to what? Hoping that Obama would win?

And please don't try to say that "if we all had just gotten behind Gary Johnson, things would have turned out differently".

Dec 7, 2012 - 3:20pm

Well, here you go

Love or hate debka but, given their track record, we should within 48 hours or so if this is accurate.

Dec 7, 2012 - 3:24pm

And this is fun

When it comes to commodities priced "per ounce", the two most quoted products are silver, and of course gold. But in a broader context are these prices a lot or little? How do some other less known commodities stack up to the world's two most precious metals. Here are the prices for a wide universe of other compounds which are also priced on a "per ounce" basis...

  • Copper: $0.24
  • Silver: $33
  • Beluga caviar: $345
  • Gold: 1,700
  • Carbon 60: $2,495
  • Cocaine: $4,791
  • Namibian uncut rough diamonds: $98,490
  • Plutonium Oxide: $165,500
  • Soliris (anemia drug): $533,000
  • Human eggs: $157 trillion

That said, we doubt any of the above have the wealth and capital preservation capabilities of those two most popular shiny metallic objects which may or may not be edible, but have survived the rise and fall of nearly 3000 paper currencies over the ages.

Dec 7, 2012 - 3:58pm

This week's CoT

Gold as expected but silver is breathtakingly crazy. See for yourself:

No analysis yet because it would take too long to type. WOW

Dec 7, 2012 - 4:03pm

Yes, you should have gotten

Yes, you should have gotten behind Gary Johnson.

Dec 7, 2012 - 4:14pm

I have been listening to Jim

I have been listening to Jim for years , I like his message but how much of it actually comes true ?

Dec 7, 2012 - 4:25pm

Weekend Listening

Thanks Turd - DO enjoy listening to you and Jim chat. It always provokes some further thought.

Look forward to listening as time allows over the weekend.

Iamgolden TF
Dec 7, 2012 - 4:29pm

Where can I learn how to read

Where can I learn how to read these charts ? thank you Mr Turd

The Green Manalishi
Dec 7, 2012 - 4:43pm

December 7, 2012 9:31

December 7, 2012 9:31 pm

JPMorgan’s £500m bonus tax deal

JPMorgan is nearing a settlement with the UK government in which the US bank and its employees could pay close to £500m in back taxes that were avoided through the use of an offshore trust for bonus payments.

The Wall Street bank is in the final phase of winding up the Jersey-based arrangement and has asked more than 2,000 current and former employees to contribute to the settlement. Individuals who choose not to participate voluntarily could face a more expensive tax bill once their trust assets are liquidated.

Mr. Fix
Dec 7, 2012 - 4:51pm

Thanks for the podcast!

Always good stuff!

Jim Willie is my favorite too.

Dec 7, 2012 - 5:36pm

the interview

I enjoyed the interview. However, no new jackassery was shared. I guess we have to subscribe to hear any new jackassery.

I like his long term thinking but I feel that this scenario could be dragged out for a long time. Metals could trade sideways for a good while longer but no one knows for sure.

We need a nice big black swan event to get metals going.

In regards to Linsday Williams. Lindsay is just guessing about how the future will unfold. His 2 hour interviews can be condensed into a few talking points or 5 minutes at most. He is playing in the wrong sand box. Maybe that is why Turd does not have him on for interviews.

Metals should not be purchased if the investment does not have a long term horizon in my opinion. At least 2 years. This criminal manipulation could go on longer than we expect.

Dec 7, 2012 - 5:43pm


The Jack Ass and the Turd. A great combination. Excellent interview.

Admiral Ag Bar
Dec 7, 2012 - 5:56pm

thanks for the JW interview Turd! (+ random FreeGold thoughts)

I always enjoy the JW interviews. Great stuff.

I've been following along on the FreeGold debates in the other threads. Interesting stuff. In reading "Another"'s Kitco posts from 1997, it does seem to explain the PM suppression scheme as it relates to the petro-dollar exchange. If I am reading it right, the cast of shady characters associated with PM suppression is much more widespread across banks and countries than I previously understood. They HAVE to keep gold down. Silver too, to keep the rug getting pulled out from underneath the gold suppression which keeps the oil flowing. In the future, all currencies will be priced in the ultimate commodity.... OIL.

Makes me think if gold (or silver) ever take off in a unrelenting parabolic spike... maybe the real Shit-Hits-The-Fan is on! Everyone not holding PMs becomes instantly poor. Can't afford oil... you are screwed. Scary stuff.

My plan has always been to use silver to trade for gold when the ratio is right. I plan on scaling into gold at sub 40:1. The question remains... how much silver to hold on when/if the ratio gets crazy low. Gives me a lot to think about during this boring grind in the PM markets....

Stay frosty.

Dec 7, 2012 - 5:58pm

after listening to Mr.

after listening to Mr. Willie, I wonder how the folks who are "stacking" in the USA will fare if he is right about our dollar being so devalued?

Anyone care to construct a scenario of the value of an individual's stack? (Assuming they can find it at the bottom of their favorite lake?)

القراع عصفور
Dec 7, 2012 - 6:00pm

the silver COT

is looking a lot like a dark feathered waterfowl.

here's to the punch drunk warriors standing for delivery...

The Punch Drunk Boxer
silvercity wonderer
Dec 7, 2012 - 6:11pm

The US of A is headed to third world status.

Mr Willie said this pretty clearly. This just means that our standard of living will be similar to other third world nations like Panama for example. There will no longer be a middle class. Those folks that have a stack of silver when this happens will hopefully be able to invest it in something that will help out. Like income producing rental property's etc. In third world country's there is a group of folks that have a lot of money. And, everybody else is broke. Believe me, a nice stack of metal will be useful in this predicament. I currently live in Panama and my neighbors live just like I envision Americans will live when we revert back to third world status. Lots of my nieghbors have nothing but plastic chairs in the house and mattresses on the floor. The majority of their income goes towards trying to eat. Simple life. So that stack of silver will be very valuable to have on hand indeed.

R man J
Dec 7, 2012 - 6:19pm

Hat Trick Letter

I subscribed a while back and recently renewed. Informative, interesting and also entertaining. The Jackass mercilessly brandishes lucid and eloquent satire mixed with exclusive information as a sharp threshing instrument having teeth to flagellate and excoriate evil bankers and their fascist government co-conspirators. He opens their pus-laden underbelly, exposing its running sores in a most shocking and revelatory fashion.

القراع عصفور
Dec 7, 2012 - 6:27pm

Ag bar

i'm no expert, but to me it looks like the speculators in silver have held firm. we got the usual wash-out in gold. so, and as i have been saying, i think the beginning of the end of the worldwide banker scam starts with silver. i believe that there is very little silver left above ground, and that there will be a Comex busting event soon.

Tmosely - you voted your conscience, as did I. i agree with you again.

i further believe that things will get better for mankind after the fog lifts - the illusion created by the PTB. man is inherently good, but evil exists. the present banking system began over 400 years ago in London, and that power remains today, but not for much longer. it is truly an "evil empire", and the symbolism Turd uses is right on the mark.

thank you TF. you have done more good here with your web-site than 10,000 fucking bankers have done over hundreds of years. that math is refreshingly simple too:-)

have a great weekend all, and especially you, Dr. Willie, the most entertaining number cruncher in the known universe!!!

R man J
Dec 7, 2012 - 6:28pm

Value of stack

I believe 2000 oz AG : 40 oz AU will be $1 million USD by June of 2018. (5.5 years).

Just A Regular Guy
Dec 7, 2012 - 6:31pm

Admiral Ag Bar

Wha? You didn't think that's what would happen if PMs went up fast? It's not that PM's, per se, are going up, it's just the currency is collapsing. Further the moon-shot will spook the be-jesus out of the market and either will be preceded with a USD sell-off and or bond (remaining) sell-off. It's like what Catherine Austin Fitts said, 2000 gold = war. Now that figure may not be correct, but essentially all you are doing by buying metals is preserving wealth. The fiat system will fail, when they are ready, whoever "they" are is your choice. If it is disorderly (i.e. huge-fast spike) we might see some military action, if it is "orderly" the system will collapse and peace will probably remain and the reboot will come smoothly. You are right about the oil issue too. If the USD dies, well iduno wtf happens in the middle-east, but it WILL be ugly (looks ugly to me from here). If oil isn't pumped from the middle-east - ask Malaysia/Norway :) Supply-chain damage (e.g. essentials - food/medicine) has some very very serious social ramifications.

In terms of the shorting, it is being done on behalf of CBs.... that surely is obvious. They need gold, the powers that be are allowing them to hold down the price (i.e. criminal naked shorting) to accumulate metal without spooking the market participants (and to get a good price to mitigate against further economic degradation). In the end tho, I believe, the punishment for years of BS by certain banks will be justice for said naked shorting. Kinda a neat trick right?
CB's get gold, wanker banks get pawned in both senses (of being a "pawn" and being "owned" aka "pwned").

In terms of your slow grind, iduno. The SHTF occurs and it will be over in at most a week, if not realistically a few hours to a day or two. I doubt the ratio (during the SHTF scenario) will matter. I believe that if you, me and others survive said scenario you will come out with some "wealth". Those that held onto paper come out with, well, paper :)
Wealth will be transferred essentially, from those that don't have PMs, to those that do. GG football/alcohol induced comatosed public. Worst thing for me is you try to warn them about what is coming and you get the vacant look... some look as tho you have just shattered their world and they wont listen.... oh well, what can you do?? I suppose they'll f**k us in the ass if they could post the event . I guess here we must show some compassion? Kinda hard, but hey, gotta be done. Don't do it, you die.

As Marc Faber said, if everyone loses 90% and you only lose 50% you're the king, this is a large chunk of the stacking PM idea.

Take it easy


(gotta sleep :( so much to listen to however...... mind so active....)

Dec 7, 2012 - 6:48pm

thank you !

thank you, thank you !! double thank you. you made my day.

Dec 7, 2012 - 6:56pm

I'm no expert here or anything like that but..

I doubt cocaine is over $4700 an ounce.

back in the day it was only like $80 a g


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