TFMR Podcast #44 - Jackass on the Barbie


For a holiday treat, Jim Willie stops by for an informative and enlightening podcast.

Jim and I cover three main topics today:

  1. The recent takedown in gold and silver and the incredible physical demand which followed.
  2. News and behind-the-scenes events related to the recent G20 meeting in Turkey.
  3. The Fed's ongoing ZIRP and QE∞ and their total inability to exit the treasury market. Ever.

So there you have it. Nearly 45 minutes of uninterrupted Jackassian wisdom. Enjoy.

Have a great weekend!



Dagney Taggart
May 27, 2013 - 9:02pm


You want Fix to change? LOL!! Typical collectivist trash.

Blame the psychopaths who put us on this road to begin with many decades ago, not the productive class of humanity for defending themselves from it. What you want is akin to a bear asking a beaver to stand still while he kills the beaver.

Darwin always wins in the end. And the longer the principles he describes are ignored or impeded, the worse the backlash. It should never have come to this to begin with. There are inevitable consequences to suffer now. Maybe humanity will learn FOR FUCKING ONCE!! STOP PLAYING FUCKING GOD WITH THE WORLD!!

PS. Yes, I've had drinks and now I'm leaving before I really say what's on my mind. Good night all.

QE to infinity
May 27, 2013 - 8:58pm

Re: Collapse of the Soviet Union

What I saw was not salvation by the state but the rugged individualism of resourceful folks busy taking care of themselves.

The collapsing Soviet state didn't care about anybody as such but there were a lot of safety nets/lifelines leftover from the Soviet era that did actually help many people survive. From what I remember reading in Orlov's book, he acknowledges it too.

For example, the shops weren't closed all the time - now and again some cheap goods were delivered and those people who were in the store then were able to buy cheaply (though limits were enforced per customer, same as before the collapse). A non-working family member going around the shops every day was often able to buy some food for his/her family.

Many workplaces, kindergardens, schools, universities operated subsidised canteens where it was possible to eat very cheaply. Students were still getting stipends (and the education was free), however small the stipends got with inflation, it was still possible to use them to buy food at the canteens (the quality of the food is a different matter...)

Public transport still ran and was cheap (though it got many disruptions and overcrowding but it was still there).

Many people still helped out their friends and distant relatives, not just their immediate family.

Electricity, gas, heating and water were still cheap, and if you didn't pay the bills, they were usually not disconnected for years.

Vast majority of people had somewhere to live rent-free. It was usually crowded with several generations of the same family, but you didn't have a landlord or a bank to evict you.

So the rugged individualism of the resourceful folks helped some, but a lot of people were saved by the old socialist lifelines. Of course, the rugged individualism was much more visible than just quietly surviving as many people did.

Mr. Fix
May 27, 2013 - 8:58pm

Okay, enough is enough.

Allen 2012,

Like I said before, families tend to take care of their own, even the sick and the old.

Without all of these social programs, there would be so much more prosperity for everyone, this would not be a problem.

As T Moseley said in a previous post, poverty was in the process of being eradicated prior to the Social Security system being instituted, and it has been all downhill ever since.

Since you keep bringing up comparisons between individualism and being a Nazi, I can see that your brain has malfunctioned. The discussion does not make me uncomfortable, as much as talking to you is a waste of time.

My daughter has just invited me to watch last week's episode of Revolution, that so we will be current when this weeks comes on. It's a great TV show, and although we don't always sit around talking about a societal collapse, the TV show Revolution is quite thought provoking.

By the way, that particular TV show does tend to demonstrate the folly of collectivism, in a rather graphic way.

But I don't expect you to see the analogy.

Cry Me A River
May 27, 2013 - 8:54pm

Tjeffson says

Says, "Now you did it....had to bring in Tom Woods. That's like dropping a nuke when the other guy has a slingshot. I read a lot of what Tom writes. In fact he's one of only 2 or 3 people I would support as President. "

Like minds think alike! The trouble is, there are not enough of us left.

May 27, 2013 - 8:54pm
May 27, 2013 - 8:53pm

UPDATE Matt from BPT sent me

UPDATE Matt from BPT sent me a link to the full version of the Newsletter with the Audio Overlay, so this is the complete product, for free, enjoy.

48 Professional Charts. Did I mention FREE? newsletter.html

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

May 27, 2013 - 8:53pm

@jake and teach

"I think individuals have a right to expect to profit from their efforts, but obviously there has to be some sort of structure to manage present populations." "This is what socialized "affordable" healthcare (Obamacare) intends to do---MANAGE POPULATIONS. It's basically a Nazi Final Solution. Those who voted for it under the guise of "Free-Stuff" will get a lot more than they bargained for. Those who opposed it understand that our country is on it's last legs." thats why I'm moving toward anarchy. Any management you try to put on people will lead to tyranny. It may not happen in your lifetime but it may in your children's or grandchildren's lifetimes. All government is evil and every form of government will move to totalitarianism. It's just a matter if how fast. The US lasted about 200 years ( depending on when you think tyranny started, I believe Lincoln did us in with his war).

Mr. Fix
May 27, 2013 - 8:49pm

Dagney Taggart, Good to see you,

Always good to see a fellow individualist drop by and say hi.

Not only do I hope all is well with you, I feel certain that it is.

alan2102Mr. Fix
May 27, 2013 - 8:48pm

Mr Fix

"Of all of the groups that you mentioned that the Nazis deemed unfit, the vast majority of them were contributing to their society"

Many of them were not. Mentally ill, mentally retarded, invalid, very elderly and infirm, senile, crippled, and so on. They were "unfit". "Unproductive". PARASITES. Leaches. "Life Unfit for Living". They should not be supported. They should just die off. Those are the Laws of Nature.

"there is no point in furthering this conversation."

I don't blame you for feeling uncomfortable when similarities are pointed out between what you are saying and what the Nazis and Hitler were saying. But there it is, in black and white. And I can provide you with plenty of bibliographic material, if you like; there are lots of good books on this subject.

You are expressing ideas that are known as "social darwinism". Look it up on google or bing; read the wikipedia entry. It was an idea that arose in the 19th century, became popular, and then was discredited around WWII. It is a very ugly ideology associated with naziism, fascism, eugenics, malthusianism, and such. It still pops up from time to time, usually expressed by people who don't know just HOW ugly is the pedigree of the ideas they are mouthing. In other words, I'm not blaming you as much as you think I am. I'm NOT calling you a Nazi; you're obviously not. You simply didn't know. But I urge you to know, to study, learn, think, and know. And change. Stop mouthing ideas that are consistent with their ideas.

Mr. Fix
May 27, 2013 - 8:46pm

You're Nazi analogies are wearing thin,

Alan 2012,

My example of paying someone to live to be 100 was a little bit over the top, but even your utopian vision of everyone remaining healthy until they are 70 or 80 is unrealistic, if the economics do not support it.

As far as Social Security being broke, that is a true statement. The fact that the fund was stolen and used for other social programs, is not particularly relevant, because politicians stealing funds that were earmarked for one purpose, and using that money for a another “pet project” is how the system works. (or not)

We can go into all the reasons why America is bankrupt, and some of the points that you raise are valid, but they are also off topic. I will concede that America does not need to spend more than every other country on the planet combined for its national self-defense, but let's face it, most of that money is squandered, and that is true of every other government program as well.

Let's boil it down to the simplest of terms, in fact it was taught to me by Puck T. Smith,

in a conversation we had several months ago.

There are only two rules in life, and if everyone abided by them, there would be no problems.

They are:

1. Don't lie.

2. Don't take other peoples stuff.

It is really that simple, and for our government to exist, it has to break those rules every day.

In order to promote a collective, it has to break those rules every day.

In order to promote individual freedom, no rules need to be broken.

The only purpose of law, should be to enforce those two simple rules.

Can you begin to imagine the prosperity that would exist if only those two laws were in effect?

Of course I'm being Pollyanna-ish, it's not going to happen, but it is a system that would work well.

Obviously, those loyal to Adolf Hitler, were not abiding by any code of ethics, other than to prop up the state.

Nazi Germany was all about loyalty to one man, individualism had nothing to do with it.

So please don't waste our time by going there.

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Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

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