TFMR Podcast - Ned Naylor-Leyland of Quilter Cheviot Investment Management

81

Our old pal, Ned, stopped by Turdville yesterday for a wide-ranging discussion which included:

During the podcast, Ned mentions some great new charts provided by Grant Williams out of Singapore. Grant's entire report can be found here and I strongly encourage you to read it: https://www.mauldineconomics.com/ttmygh/. The section of the report that really got Ned's attention is copied below, along with the charts that Grant included:

Last week's edition of Things That Make You Go Hmmm..., "Twisted (By The Pool)," was missing three charts that would have driven the point home like a piledriver. They include two of my favourite charts, and I have referenced them many times.
This time I simply forgot to include them.
Luckily, my buddy Nick Laird is far more on his game than I am, and he pinged me immediately to point out my oversight and then kindly updated the charts for me.
I include them here once again and offer my thanks to Nick for his generosity.
I have said it before, and I'll say it again — if you follow gold and silver, you absolutely need to be familiar with Nick's wonderful website, www.sharelynx.com. It is by far the best repository of precious metals charts anywhere in the world.
So, without further ado, I give you the charts of the 5-year average intraday movement in gold, the LBMA intraday gold fix, and the LBMA overnight gold fix.
Please pay careful attention to these charts. They speak volumes.

Ned and I hereby invite any and all members of the "No Manipulation Club" to explain how these charts are possible in a free and fair market.

Have a great day and enjoy the podcast.

TF

  81 Comments

Dec 12, 2013 - 12:16pm
Dec 12, 2013 - 12:17pm

And Ned also mentions these posts from Koos

https://www.ingoldwetrust.ch/china-prepares-for-financial-warfare

https://www.ingoldwetrust.ch/professor-yu-yongding-on-gold

(Look, I recognize that the guy's name is actually Yongding Yu...but...I can see where it's difficult to take seriously someone who, in The West, shows up as Professor Yu YongDing. Though no more challenging, perhaps, than taking seriously someone whose own mother now calls him "Turd".)

arch stanton
Dec 12, 2013 - 12:17pm

first

except for turd who doesn't count

bim jeam
Dec 12, 2013 - 12:27pm

Turd

Unable to expand your charts.

tmosley
Dec 12, 2013 - 12:32pm

Turd: If you want to drive

Turd:

If you want to drive home the point, I would suggest you (or someone) produce similar charts for other commodities.

I have wanted to see such charts for five years now, ever since I was first introduced to the concept of ongoing interday manipulation.

Nigel Black
Dec 12, 2013 - 1:12pm

Your daily dose of propaganda

Yup, they are still at it:

Gold is just the tip of the 'Taper Tantrum'

Look no further than Thursday's trading in gold to see a market throwing a taper tantrum.

November's stronger-than-expected retail sales gave another boost to the idea the Fed could begin to slow its bond buying this month. The 0.7 percent rise beat the 0.6 percent expected but also shows that sales extended beyond autos, which were at a six-year high in November.

https://www.cnbc.com/id/101268694

Dec 12, 2013 - 2:10pm

Great podcast!

I always enjoy listening to Ned give his thoughts, despite the fact that his damn accent always makes him sound so much smarter than the rest of us. Or maybe he just IS smarter than the rest of us! And kudos to you TF for the unobtrusive interview style, letting your guest fully expound on his points and information- well done!

Really big point, I thought, about the delay in starting the Asian exchanges giving China time to accumulate really significant amounts of metal at discount prices. Once these are up and functioning, it will be fascinating to see how the arbitrage shakes up the western exchanges. Once senses tectonic movements building below the surface.

Interesting, too, about the tight working relationship between JPM and the Chinese leadership. If they are privy to the broad strategy of these people, and the planned timing of events, it would put their recent huge gold long position in a bit of a different light... maybe it is not merely a short-term trading position to fleece the sheep for a quarter or two, but perhaps something much bigger. Hmmmmm...

Mickey
Dec 12, 2013 - 2:16pm

Head and Shoulders

does todays take down negate the Gold head and shoulders set up from a few days ago--or does it just draw it out a couple more days assuming of course we do some bouncing tomorrow and Monday? I think you are saying today is just noise.

Mickey
Dec 12, 2013 - 2:19pm

You should check the other

You should check the other post. The answer you seek is there.

MickeyTF
Dec 12, 2013 - 2:36pm

Head and Shoulders

Thanks, I was pretty sure but had to ask--my own charts show today a bit more "disturbing" -an analogy would be a football back being forced outside until he runs out of bounds-or sometimes when they go wider they get more room to go downfield (or is that upfield?)

anyway if this recent rally can hold it would support the next round of short covering. Would love to see HUI get green today before spx does.

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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