A2A with David Morgan

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Wow! This was a great webinar! Without question, David Morgan is one of the most knowledgeable and experienced voices in the metals blogosphere.

Over the course of this 45-minute discussion, David discusses:

  • Current global silver demand trends
  • His philosophies for buying and holding mining equities
  • QE and market manipulation
  • CME/Comex rules that seek to prevent a collapse of the exchange
  • And much, much more

Wait are you waiting for? Dig in and enjoy!

TF

  28 Comments

Sloppy Goatpants
Oct 10, 2013 - 1:13pm

First.  Now onto that

First. Now onto that beautifully raspy smoker voice!!

Igiveup2
Oct 10, 2013 - 1:26pm

Typical

Metals down, it must be a week day.

SilverTree
Oct 10, 2013 - 2:08pm

ThrRD

ThrRD

Mr. Fix
Oct 10, 2013 - 2:48pm

4th.... Gold And The Four Words

Guest Post: Gold And The Four Words That Define Western Economic Policy

Submitted by Tyler Durden on 10/10/2013 - 13:54

Despite nearly $17 trillion reasons, there are investors stupid enough to believe that debt issued by the world’s largest debtor country (i.e. US Treasuries) should be treated as a risk-free asset. This is even more astounding given that the possibility of formal default is only a matter of days away. Treasury bond defenders will no doubt point out that in a fiat currency world where the central bank has the freedom to print ex nihilo money to its heart’s content, the very idea of default is absurd. But that is to confuse nominal returns with real ones. The piper must, at some point, be paid. And someone must pay him. As to whom? This is the foundation of western economic policy, distilled into just four words: the unborn cannot vote. The debt mountain cannot and will not resolve itself. And this, again, is why we own gold; because we think there is a non-trivial chance of a gigantic financial system reset.

silverflower
Oct 10, 2013 - 3:01pm

It's absolutely amazing

how the have their thumb on the metals right now. Controlling the metal market 24h the day/7days the week.

I have the feeling that something big needs to happen in order for the metals to creep higher. Theses bastards are in full control of the price.

Keg
Oct 10, 2013 - 3:57pm

Morgan gives some excellent advice

Study, have your own plan based on your situation, food first.

I've listened to many of his interviews and never heard him discuss the personal/social aspects as he ended with today. His thoughts on those issues I concur with completely. I have always thought he sounded just a little pompous and wondered if that was the way he was or just the way he sounded to me. Now I know it is the later.

¤
Oct 10, 2013 - 4:41pm

PIM(p)CO's Gross Talks Up UST's

Pimco’s Bill Gross to Fidelity: ‘We’ll buy those bonds’ October 10, 2013, 4:47 AM https://blogs.marketwatch.com/thetell/2013/10/10/pimcos-bill-gross-to-fi...

On the heels of news that Fidelity has cut out its exposure to short-term Treasury bills due around the time the U.S. could breach its debt ceiling, Pimco’s bond guru Bill Gross told CNBC this:

“We’re doing exactly the opposite actually… probably buying what Fidelity is selling,” Gross, manager of the world’s largest bond fund, said in an interview after the market closed on Wednesday.

However, Gross says both companies are probably doing the right thing:

“I appreciate the problem that they have with their money market funds… If, for instance, there’s a technical default of a day or even a couple of hours, then a money-market fund possibly has to mark down that debt to zero, and it breaks the buck. So… a Fidelity money-market fund might want to avoid that situation. Pimco doesn’t have that problem.

“Our asset values go up and down every day, and breaking the buck — hopefully on the upside as opposed to the downside — is really our situation. So when we see a Treasury bill of a 30-day nature or a 15-day nature at a yield of 35 or 40 basis points instead of 3 basis points, which is where it was a few days ago, then we become a buyer — certainly not a seller.”

“Breaking the buck“ occurs when the net asset value of a money-market fund drops below $1, and can happen when a money-market fund’s investment income doesn’t cover operating expenses or investment losses.

Treasury bills are an integral part of money-market funds, and the yield on 1-month Treasury bills 1_MONTH has been spiking higher on mounting fears that lawmakers will not be able to reach a deal on raising the nation’s debt ceiling by the deadline of October 17.

Gross told CNBC that chances are 1 in a million that the U.S. will default on its debt, though that doesn’t mean markets aren’t going to fret about it. Stock futures were pointing to a strong open for Wall Street on Thursday, amid some glimmers of hope linked to a meeting between President Obama and a core group of Republicans later in the day.

Investors pulled $5.4 billion out of Pimco’s flagship Total Return Fund in September, making for the fifth-straight month of outflows for the fund. Bond funds like these have been suffering as yields have risen on expectations the Fed will be shifting its monetary policy. Some are now saying that Janet Yellen’s likely replacement of Ben Bernanke as chair of the Fed means the central bank’s easy-money policy will stay in place.

Gross told CNBC that Yellen’s nomination means the Fed probably won’t end its quantitative-easing policy within the next year, and that outside of the “money-market problem, we think it’s no problem whatsoever.”

– Barbara Kollmeyer

Turdle GG
Oct 10, 2013 - 5:39pm

Thanks David and Turd

The last few minutes, in particular, were excellent

Joe72
Oct 10, 2013 - 6:12pm

Not a big fan of David Morgan

I think he is pompous. He use to close his newsletters with "It's an honor to be David Morgan"........Biggest ego in the room and most of his stock picks are garbage. He probably does know more about silver than most....but I much prefer Turdville. I am sure his intentions are good but.......just not into people like him.

When I got the invite to the webinar I didn't even bother cause they're all the same. I will give the last few minutes a listen due to a few of the comments here but I'm all set with DM.

turdpond
Oct 10, 2013 - 7:03pm
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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