A Conversation with James Turk


One of the regular features that Vaulters enjoy are the weekly Access2Access webinars. Every Thursday, subscribers get to interact with influential members of the "gold community". This week's guest was James Turk and the information he provided was so terrific and timely that I thought it should be shared with everyone.

In this 50-minute presentation, James discusses a wide variety of topics ranging from the current Crimean Crisis to his preferred allocation within the precious metals sector. Please make the time to listen to the entire recording and, when you're done:

  1. Order James' new book. In fact, order two...one for yourself and one for someone else.
  2. Check out GoldMoney's services. You can do so by clicking this link: https://www.goldmoney.com/?gmrefcode=tfmetals




Mar 17, 2014 - 11:12pm

Hi LamLav

It would be very interesting to read your thoughts about Europe, if you feel inspired to write!

Relocation is problematic at present, that may change. I tend to look southward-- semitropical, for a long growing season and organic fruit and vegetables... Dominican Republic had some appeal, until they changed the residency requirements.

#1 on the wishlist is Chile. Will probably get less Fuk-us radiation in the Southern Hemisphere, too...

Mar 17, 2014 - 7:14pm

James Turk

“The Financial Times reported this past weekend that ‘The US Federal Reserve has unrealized losses of $53.2 billion on its securities portfolio,’ which as of December 31st had grown to a gargantuan $3,952.4 billion as a result of the Fed’s QE program. This marked-to-market loss renders the Fed virtually insolvent considering that its net worth is only $55.0 billion.

The $1.8 billion difference is more than eliminated if one prudently applies even a small haircut against the Fed’s $71.7 billion of remaining assets - including those it still owns from the 2008 financial crisis - to allow for a fair market value of the illiquid, intangible and doubtful assets of questionable value that the Fed owns.


Lamenting Laverne
Mar 17, 2014 - 6:34pm

Yes - I think so too

@ Zoltan:

I think that you are absolutely spot on with that observation.

@ Pontiac:

If New Zealand was actually located in Europe, I would most certainly dream of living there. The pictures I see from New Zealand are just so stunningly beautiful that it must be wonderful to wake up in the morning and look out the window on that kind of scenery ​with a good mug of coffee in hand. As of now, the family situation does not allow for such distant home as in New Zealand.

@ Luv2Stack:

I've never been to Iceland, but the Icelandic guys I have worked with in an earlier job were extraordinarily nice people, and I suspect they were good representatives for the rest. I would like to visit as a tourist too. Maybe one day, as part of a "Tour de Arctic Circle", where the destinations would include Greenland, The Northern tip of Norway to see the northern lights and maybe even Svalbard, if there is access to visit for the public. Although they say that the polar bears in Svalbard are less than hospitable to outsiders ;-)

If you are serious about researching Europe as a possible destination for you to relocate to, and you are looking for a place where you will fleeced a little bit less in taxes than most places, please let me know your priorities. I would be happy to write a summary about which destinations that could be the most interesting - to the best of my knowledge of course ;-) But it would at least give you a few hints as to where you could get more information on the subject.

Mar 17, 2014 - 5:27pm

@Lamenting Laverne

"@ Zoltan - I have noticed many strange pauses during trading nights, and also how miraculously all the bigger moves or long pauses happen in close proximity to the 5-minute 15-minute and 30-minute bars being drawn. Do we really believe that institutional traders are placing orders to time the drawing of the right size of bar on the charts? I don't. When it does that, it feels like watching the matrix in action in real time."

Yes I believe the charts are being painted and the close is being banged. I'd go as far (and have) as to suggest that data streams are suppressed and taken offline to hide large numbers of trades that would be tell tale signs of manipulation (that some "pauses" are actually just drops in the data stream where manipulation takes place in the dark).

Not sure if this thread will get checked again but thought I should post a response in the thread that the question was posed.


Mar 17, 2014 - 3:53pm


"I'd like to visit Iceland. As a tourist."

there's a pot of gold buried under every tree in iceland.

there are no trees in iceland.

The loneliest house in the world. Photo by: unknown

Volcanic landscape in Iceland. Photo by: Andre Ermolaev

27 891 views

Rating: +25

Mar 17, 2014 - 8:51am

New Zealand is a good guess

New Zealand is a good guess -- majestic scenery and friendly -- but I don't think anyone on this site would move to an AngloSquidQueen place. Goes for the Bahamas, too.

Same language is tempting... but 'similar' structural problems, plus having the status of 'Subjects'. With the addition of massive Chinese influence, geographical isolation, and no military forces.

Fine today -- what will Tomorrow bring ? ?

Actually that sounds like Panama, too...

(Queen DID defend the Falklands from take-over, however against the Argentinian armed forces.)

I'd like to visit Iceland. As a tourist.

Golden Turtle
Mar 17, 2014 - 12:42am

Silver in a nice looking flag - cup and handle

Well if 100's of years of chart drawing and technical analysis are correct, silver should jump higher soon. But I feel with all the HFT algos these days, it seems that they know these patterns and still destroy them... so we will see... whatever happens happens.

Mar 17, 2014 - 12:23am

Dear Vladimir

Please remember, it wasn't me, it was them.


U.S. Citizen

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

Mar 17, 2014 - 12:07am

Follow up on JS


Here is a Minister stating just what Jim spoke about


​Edit: not a Minister but an Advisor to Putin

Mar 16, 2014 - 11:51pm


My guess is New Zealand

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

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

Forum Discussion

by argentus maximus, 9 hours 36 min ago
by argentus maximus, 12 hours 52 min ago
by jack3617, Aug 7, 2020 - 5:51pm
by Titus Andronicus, Aug 7, 2020 - 5:13pm
by jack3617, Aug 7, 2020 - 5:06pm
by Steve S, Aug 7, 2020 - 1:59pm