TFMR Podcast - Friday, January 30

241

Right on cue, gold rebounded today and recovered most of the contract expiration losses of yesterday. Now, with another volatile week ahead, can it crawl back toward $1300 and, if it does, what will happen with silver?

As we wrap up the week and the month (a month which saw gold +8% while the S&P was -3%), just a discussion of these charts:

GOLD

SILVER

the HUI and the S&P

And this crazy chart of 10-year German and Japanese bond yields

Regarding the totally insane global interest rate picture, please print off and read this remarkable story from Zerohedge. Then take the printed copy and add it to your Stack For Posterity. https://www.zerohedge.com/news/2015-01-30/denmark-you-are-now-paid-take-...

And finally, here's a fun article from SRSrocco covering many of the topics we regularly discuss here in Turdville: https://srsroccoreport.com/big-trouble-for-u-s-gold-market-no-available-...

Have a great weekend!

TF

  241 Comments

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lund175matt_
Jan 31, 2015 - 3:56pm

@ matt

I totally agree with everything you posted including the pm's & paper. I believe the shit is going to hit the fan to the point I am a little nervous. Right now I prefer to have metals than digits on a piece of paper that can be taken away or confiscated. With all the rules and regulations that have been put in place as well as critical rights taken away. I can only imagine a future of great repression if the U.S. continue's on this path. It feels like everything the g man is doing is being done on purpose, that is to destroy the little person.

Dyna mo hum
Jan 31, 2015 - 3:37pm

I just don't

understand the rabid hatred that is always leveled at Palin her retarded child and her family for that matter. Is it really necessary?

infometron
Jan 31, 2015 - 3:32pm

'hawks v. pat's

Frankly, I could give a shit about Palin v. Obama, but like a good drone, I'm totally jazzed about this game tomorrow between the pat's & 'hawks. What a great match up, even if it was rigged.

Can Dont'a (throw it at me) Hightower contain Russell Wilson and can Jamie Collins contain the Beast up the middle? If they can't, Baldwin, Willson, and Kearse should have a field day. Revis can only cover one of them at a time.

Will Sherman and Thomas be 100%? If so, containing Bronk & Edelman should be doable. If not, what kind of extra magic will Kam Chancellor bring to the game, will it be enough? Brady is a very cool customer, and I can't imagine there will be any point in the game the pat's will be out of it like the Broncos were last year. I think he will test Sherman early, and if successful, often.

What is most amazing to me about this game is that Russell Wilson will be facing a super bowl winning quarterback for the 11th time in his short illustrious career. Thus far he is undefeated. Will that astonishing record remain intact? It was almost broken against Rogers and the Pack. Can Brady maintain his dominance at the quarterback position? Maybe. Maybe not.

Woohoo! We'll see tomorrow... :^)

Restating my prediction ("no one knows the future" ;^) 'hawks 27 (3tds,1fg), pat's 23 (2tds,3fgs)

matt_
Jan 31, 2015 - 3:31pm

% invested in metals @cyclemadman

For most people, their home is their biggest asset. If you are leasing, it is quite possible to have a very large percentage of net worth in metals. For me, about 65% of my net worth is in metals and related stocks. Probably too high, but I can't seem to think of anything better to invest in that would make me want to lower that percentage. Any sane financial advisor would tell me to diversity, but I only have an insane financial advisor (myself).

Dyna mo hum
Jan 31, 2015 - 3:28pm

And

So easy to duplicate...

DeaconBenjamin
Jan 31, 2015 - 3:24pm

Go ahead, Angela, make my day

IT WAS in Greece that the infernal euro crisis began just over five years ago. So it is classically fitting that Greece should now be where the denouement may be played out—thanks to the big election win on January 25th for the far-left populist Syriza party led by Alexis Tsipras (see article). By demanding a big cut in Greece’s debt and promising a public-spending spree, Mr Tsipras has thrown down the greatest challenge so far to Europe’s single currency—and thus to Angela Merkel, Germany’s chancellor, who has set the austere path for the continent.

The stakes are high. Although everybody, including Mr Tsipras, insists they want Greece to stay in the euro, there is now a clear threat of Grexit. In 2011-12 Mrs Merkel wavered, but then decided to support the Greeks to keep them in the single currency. She did not want Germany to be blamed for another European disaster, and both northern creditors and southern debtors were nervous about the consequences of a chaotic Greek exit for Europe’s banks and their economies.

This time the odds have changed. Grexit would look more like the Greeks’ fault, Europe’s economy is stronger and 80% of Greece’s debt is in the hands of other governments or official bodies. Above all the politics are different. The Finns and the Dutch, like the Germans, want Greece to stick to promises it made when they twice bailed it out. And in southern Europe centrist governments fear that a successful Greek blackmail would push voters towards their own populist opposition parties, like Spain’s Podemos (see article).

It could all get very messy. But there are broadly three possible outcomes: the good, the disastrous, and a compromise to kick the can down the road. The history of the euro has always been to defer the pain, but now the battle is about politics not economics—and compromise may be much harder.

https://www.tfmetalsreport.com/comment/399597#comment-399597

infometronAlienEyes
Jan 31, 2015 - 3:21pm

@ AlienEyes

My bad. Your post came right on the heels of mine, ergo, I ass u me 'd... Sorry.

DeaconBenjamin
Jan 31, 2015 - 3:19pm

Greece flip-flops on troika talks

Greek finance minister Yanis Varoufakis has denied previous statements that Greece will no longer deal with the troika of international creditors following icy talks with the head of the Eurogroup, Jeroen Dijsselbloem.

"I've never said that we are not interested in discussing with our creditors, exactly the opposite, we are very keen to enter into fruitful negotiations and deliberations with the ECB, the IMF, the European Commission and every single member state of the eurozone to which we belong and rightfully find ourselves in," Varoufakis said. He said it might have been a translation problem, that he only meant the second tier of the troika - the "very good people" who come to Greece to oversee the implementation of the programme that "has utterly failed over the last five years." "We want a few short weeks to put together a new programme, a new deal for Greece with our creditors," Varoufakis said.

He called into question the entire logic of the bailout, comparing Greece with a family who loses its income and draws from a credit card to pay for its mortgage. Asked whether or not Greece will draw the last, €7bn, tranche from the bailout programme, he insisted that what the new Greek government is interested in is a deal on the "real problem" - the insolvency of Greece, rather than piling on new debt. Greece was given a bailout extension of two months last December when the previous government led by the conservative PM Antonis Samaras failed to deliver on privatisations and further structural reforms required by the troika.

Dijsselbloem rejected Syriza's idea of convening a European conference on debt. "This conference already exists and it's called the Eurogroup," he told the press conference.

Meanwhile, in Strasbourg, French President Francois Hollande met with German Chancellor Angela Merkel for an informal dinner together with the head of the EU Parliament, Martin Schulz, who earlier in the week went to Greece to meet Tsipras. Greece was not the only topic at the three-hour dinner, but it did come up, with Hollande seeking to find a "method" and "options" for establishing a dialogue with Tsipras, Le Figaro reports. Tsipras will visit Paris next Wednesday, while Varoufakis is expected to meet his French counterpart on Monday. The EU commission chief, Jean-Claude Juncker, is also expected to meet Tsipras in Brussels next week.

https://euobserver.com/political/127442

AlienEyesinfometron
Jan 31, 2015 - 3:14pm

@ info

WTF ? You must have a guilty conscience. I never thought of you for a second.... but if the shoe fits....

Got it ?

edit :

A slack-jaw is a person too dumb to realize their mouth is open, often seen parking cars at places with valet parking.

For the record, I'm a solid Ron Paul guy.

Dyna mo hum
Jan 31, 2015 - 3:09pm

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