TFMR Podcast - Friday, January 30


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:



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.

And finally, here's a fun article from SRSrocco covering many of the topics we regularly discuss here in Turdville:

Have a great weekend!



Dyna mo hum
Jan 31, 2015 - 3:05pm
Jan 31, 2015 - 2:44pm

@ AlienEyes Re: Sarah Palin

"Slack-jawed"? Do you mean someone offering a bogus, ridiculous, or stupid opinion? If so, there are definitely times when I would stand guilty as charged, but not when it comes to opining a preference for a Washington, Jefferson, Eisenhower or Kennedy over a Palin.

"commie O'bummer voter" That ain't me dude, you'll find me in Ron Paul's camp.

BTW, common sense does not translate into competent... got it?

Jan 31, 2015 - 2:42pm


Just listened to the interview you did yesterday (?).

For someone who claims to have around 20% of net wealth in gold he doesn't seem to know why. Is he really that dense or was he simply playing devil's advocate? Anyway you came off very well except for one point.

That is the Mexican peso is not collapsing. In fact is is up nearly 8% for the year. That is, of course, against the only currency that matters to me, the Canadian dollar.

Jan 31, 2015 - 2:21pm

RE : Sarah Palin

Don't you just love it when slack-jawed commie O'bummer voters trash Sarah Palin because she has common sense and they don't even know what it means ?

Jan 31, 2015 - 2:17pm

Re: Sarah Palin v. Obama

Man, I hope all those hat tips are just a damning sentiment against Obama rather than a bona fide endorsement of Palin for president. If anyone here seriously and honestly thinks that Sarah Palin is the best America can do for a president, well, good luck with that. It certainly would serve to illustrate just how hopelessly inept and totally dysfunctional American democracy has become (not that it truly exists at all anymore in any case).

Gimme another Washington, Jefferson, Eisenhower or Kennedy please.

Edit: Have a great time in Vegas Craig! My best guess: 27 - 23 'hawks

Jan 31, 2015 - 2:08pm

% invested in precious metals

It would be pretty difficult to invest 100% of your net worth into precious metals.

The wife and I did some back of the napkin figuring last night. With the paid off house, multiple paid off vehicles, guns, ammo, toilet paper, light bulbs (incandescent), food, tools, etc. We probably have 30% of our net worth in gold and silver and that is essentially all in for us.

Notice that there are no paper investments in the above list. We took the tax hit years ago and withdrew all of our retirement accounts. I am very confident we made the right decision.

Jan 31, 2015 - 1:57pm


I do Superbowl in Vegas each year. It's a blast. We'll be watching the game at the old LVH. Let me know if I need to save you a seat!

Jan 31, 2015 - 1:46pm

Houston area Turdites/Austrian economics fans

Tom Woods and Bob Murphy are hosting a "speaking event and karaoke special" at a bar in Houston feb. 18.

Will do my best to be there with bells on, PM me if you're in the area.

Jan 31, 2015 - 1:44pm


Slick Willie had Robert Rubin and Larry Summers who could destroy any country and have tried, and will steal you blind. Slick Willie also got rid of Glass Steagall which opened the door for the Central Banks to destroy the country and transfer wealth. Bush II and Woody picked up the ball and made things worse. They are all corrupt criminals.

No one to vote for either. Just more of the same crowd.

Jan 31, 2015 - 1:12pm

Compared to what we have

When US government spending is close to 50% of GDP how can anyone think an airheaded brunette that consistently speaks of smaller government wouldn't be better than the last two Administrations, and some day I think the Clinton Administration will be found to have really got the ball rolling with the leasing away the peoples gold which will be such a huge tragedy, so you can throw Slick Willie in there also along with Bush I. Ugh where do you stop

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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
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Key Economic Events Week of 4/20

4/20 8:30 ET Chicago Fed
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