The Jackass -- Our Own Yankee Doodle Dandy


Continuing a TFMR tradition, Jim Willie joins us for a 90-minute discussion that ranges from dollar demise to Greece to China. If you can find the time, I highly encourage you to give this a thorough listen over the holiday weekend.

This may very well be the best conversation that Jim and I have recorded in our four years doing this. As mentioned above, Jim addresses:

  • the inevitability of the demise of the US dollar as global reserve currency
  • the situation in Greece and the effects of the pending referendum
  • the end of the petrodollar
  • the growth of Chinese currency swap facilities worldwide
  • internationalization of the RMB and the Chinese bond market
  • the AIIB and the BRICS Development Bank

As you might imagine, we cover these topics and quite a few more over the course of this call. Again, please take the time to listen to the entire recording and then, by all means, forward the link to anyone you know who continues to suffer from a bad case of normalcy bias and/or cognitive dissonance.



Jul 2, 2015 - 3:45pm

In case you missed it

Here's a link to Jim's most recent public article. From earlier this week:

arch stanton
Jul 3, 2015 - 9:44am


1st except for the turdster. good idea to make it public

edit; lots of guys at the same time I place the coveted turd.

Mr. Fix
Jul 3, 2015 - 9:49am


I anticipate events such as the release of a fresh Jim Willie interview as much as anything available on the Internet.

The man is truly a sage, someone with what has become an unique ability to do true investigative reporting which is quickly becoming a vanishing artform.

Much appreciation to both Craig and Jim for sharing with us their conversations. These days, knowledge is true wealth, and this website is solid gold.

Have a wonderful weekend everyone.

Jul 3, 2015 - 9:54am

2nd on the 3rd

Have a great holiday everyone and thanks for all that you provide TF!

The answer to 1984 is 1776!

Erick H.

Jul 3, 2015 - 9:58am



Jul 3, 2015 - 9:59am

6th on the 3rd

The world is a changing!

bim jeam
Jul 3, 2015 - 10:04am
Jul 3, 2015 - 10:07am

TFMR rounds:

"Emrere Stupri Intinge"

I never understood what that meant. Anyone out there know?

bim jeam
Jul 3, 2015 - 10:18am

Emrere Stupri Intinge

IIRC .... Buy the Effing Dip.

Jul 3, 2015 - 11:04am

You and Jim Willie should do

Hey Turd, you and Jim Willie should do a joint venture and call it "The Hat Tip Letter"!

Jul 3, 2015 - 11:06am

Latin misspelling?

Didn't the first silver turds have a Latin misspelling? What was the incorrect and what was the correct spelling?

4 oz
Jul 3, 2015 - 11:06am
Jul 3, 2015 - 11:21am

SRSrocco / Silver get it while you can.....

The World’s largest silver producer saw its production decline significantly in April. According to Mexico’s INEGI – National Institute of Statistics and Geography, Mexico’s silver production dropped a stunning 12% in April compared to the same month last year.

Looking at the chart below, we can see Mexico’s silver production declined 58 metric tons (mt), from 484 in April last year down to 426 metric tons in 2015:

Meixico Silver Production April 2014 vs 2015

by Rare Silvercoins on Apr.08, 2012, under

Jul 3, 2015 - 11:29am

Re: SRSrocco / Silver get it while you can.....

Ohhh no...that`s very bad news. Silver price will drop 12% than. Yea....that makes sense.

Jul 3, 2015 - 11:43am


Those silver mines in mexico who can't meet demand and make a profit at these prices don't deserve to be in business.

TF Metals fan
Jul 3, 2015 - 11:51am

Schauble speech

I hope this videofragment of Schauble can be understood by more Turdites. But in 17 minutes the German finance minister Schauble sums of the past discussions with Greek goverments. Enlightening but also entertaining. For me, as non-native speaker easy to follow.

Jul 3, 2015 - 12:01pm
Jul 3, 2015 - 12:03pm

What time will the Greek result be announced?

Anyone know? I've been googling hard but can't find anything so far...

Jul 3, 2015 - 12:14pm

Andrew Maguire

I've just seen Andrew Maguire's latest offering on KWN about unprecedented silver short squeeze looming:-

I do hope this materialises soon, I want to make some fiat on my AGQ calls and then convert into physical! Happy holiday weekend to all is the US from here across the pond in the UK!

Jul 3, 2015 - 12:31pm

Unemployment numbers

From CNN: U.S. unemployment fell to 5.3%, its lowest level since April 2008, according to the latest government data released Thursday.

Population of USA according to US Census Bureau 318,900,000

From Bureau labor and Statistics, number of population not in labor force : 93,626,000

Surely that is more than 5.3% ?

I went to skool and think the true figure is nearer 4%, jmho....Happy 4th !

Jul 3, 2015 - 12:56pm

Re Greece outcome

should know by 3 pm eastern.

Lamenting Laverne
Jul 3, 2015 - 1:07pm

@ Dre

Results should be ready by midnight according to ZH link. (Edit: CET)

Btw - the screendump you posted the other day, with Gold and Silver green in a sea of red, reminded me of - I think it was Antal Fekete - who said when asked (according to fuzzy memory) - when will you know that we are in permanent backwardation and imminent system change mode? Answer (again according to fuzzy memory): When only Gold and Silver are floating green in a sea of red. That will be the day.

Counter question: What is a Yankee Doodle Dandy?

@ All: Happy 4th July tomorrow!

McFly Lamenting Laverne
Jul 3, 2015 - 2:28pm

@ Lamenting Laverne

I Googled Yankee Doodle Dandy and here's what I came up with. So, yeah. Now you know!

Lamenting Laverne
Jul 3, 2015 - 2:41pm


I have no words..... ;-)

Jul 3, 2015 - 2:45pm

Hecla If You're "Crazy" Enough

@GC and other buyers of mining shares who are willing to risk looking like fools today, for the possibility of looking like geniuses in the future: Howard Marks would agree that it is safer to purchase these securities now, when human emotions generally preclude us from "buying low". One might expect that 3X standard HUI sort of leverage on shares of HL going forward (hopefully on a real impulse rally vs a corrective rally which will resurrect the gold bull), which is what I would expect to see on my own HL shares. HL is the largest US based producer of silver with silver ore vaulted in the ground on US soil, and someday when stock market punters want to get the physical and they can't, then they will "mouse click" their buy orders to the electronic floor of the stock exchange, and pay top dollar for silver ore in the ground, held in the form of shares of mining companies.

Jul 3, 2015 - 3:15pm

Silver short squeeze?

First Turd. Always Po Balony and Wierd Bix. Now Andrew Maguire and SRS Rocco all calling for a silver short squeeze. Happy 4th and looking forward to silver fireworks next week. If we get a NO vote in Greece on Sunday then we may even have gold fireworks as well.

Jul 3, 2015 - 3:22pm

I wish Mcquire... be right this time. But I'm afraid, that we will have to wait and wait and wait for that sweet moment. JC Morgan was covering its shorts then what elevated price to $49....Now he is clean (if not long)..and the managed money do the job for him on the short his (and the rest of the gang) focus will go to the primary mandate..."price suppression". The cartel will make an opportunistic profit here and there as a byproduct. But suppression is their main goal. Hope I'm totally wrong. TOTALLY WRONG !!!

Jul 3, 2015 - 3:43pm

The anatomy of a propaganda hit piece

Recently, when I view Youtube, I notice videos from this channel: pop up in my feed. The channel has very few (394) followers compared to other channels I watch and subscribe to. It seems that someone is really, really intent on getting the content of this channel in front of me. Hmmmm.... I wonder why and I wonder how that works that such an insignificant channel with such a low number of followers and so few videos could possibly be "pushed" to me... so curious who it might be and what their motivations are.

The propaganda war has apparently gone hot on youtube with regard to silver videos.

Anyway, a couple of weeks ago, I saw this video:

Silver Prices to Fall Summer 2015 video

They were kind enough to include the transcript in the description:

With Gold standing at Fridays close at $1181 and silver at $15.97 having fallen for most of the day below the psychological $16 level, we have witnessed a fall in price over the past month of 2.8% for gold and a significant fall of 8.77 % for silver.
The Non-farm payroll report whereby 280,000 new jobs were created has had an effect on this as the market was anticipating a good figure the whole week, and was not disappointed. Janet Yellen has also given her strongest indication yet that interest rates are likely to rise later in the year.
Now we all know that any rise is likely to be a token one, of a quarter or half percent. But the FED has to implement this rise:
a. To maintain a degree of credibility in the markets
b. So as not to be accused of maintaining asset bubbles artificially.
So this means that the dollar will maintain its strength which is negative for gold and silver. In addition we are approaching the summer months, which again traditionally is negative for the precious metals.
According to Bloomberg recently: “Purchases of gold by China declined to the lowest level in eight months amid speculation that the U.S. Federal Reserve will raise interest rates”.
“Also a continued strengthening of the dollar and gradual increase in U.S. real rates will probably push gold prices further down”, Goldman Sachs Group Inc. said in a commodities report on May 22.
The demand for Silver Eagles in May 2015 is sharply down on April, a fall from 2.8 million to just over 2 million and this is 49% lower than comparable sales in May 2014. Gold eagle purchases show a slightly higher reduction of 53 % compared to the same time last year. There is little doubt that consumer demand for gold and silver in the West is not only low but is continuing to fall.
So as we predicted silver prices are going to fall further, especially over the next few months. To the ardent and hard-core stacker this will be very good news, to those who have already purchased and need to liquidate their holdings, it is not. We have been frequently been asked, how low we can see gold and silver prices fall? Well Harry Dent a well-known economist, sees sub $700 gold and sub $10 silver. We don’t share his pessimism. But we can see over the coming months $1,000 gold and $12-$13 silver.
The World’s economies are weakening, China though growing is doing so at a much lower rate – the only justification right now for any rise in the precious metals is if a serious and significant war breaks out or there is a collapse of a Major Financial Institution – both of which we do not see as a real prospect on the near horizon.
Within the next 2 weeks we are going to issue our Report on the Major Silver Mines and their all-in costs of production. Many will be surprised to see, that despite all of the ‘pumpers and dumpers’ claiming these mines are all going to close, the opposite is the case.
Now we hope that you will at least comment on this video – giving us a thumb up or down and if you haven’t subscribed, then please do so.

Oh.... Allow me to retort.....

First, notice how they cherry pick. They make a tremendously huge deal in the falloff of ASE sales from April to May. But if you look here:, you'll see an increase from May to June of 239% from 2,023,500 to 4,840,000. They said, "There is little doubt that consumer demand for gold and silver in the West is not only low but is continuing to fall."

Second, they make a big deal out the all in cost of production for silver miners. They say that silver is so cheap to dig out of the ground that silver mines are just going to dig more and more out of the ground in spite of the greatly reduced price and this is going to drive prices even lower. Well, earlier in the thread we saw a link to this article:, about mine production falling of 12% from this time last year.


Whoever you are, Illuminati Silver Channel, you can tongue punch my fart box.

And having said that, I leave you with Hitler saying Nien! for 10 minutes.

Hitler says NEIN for 10 minutes
Jul 3, 2015 - 3:59pm


Tongue punch my fart box. I am going to start using that.

In regards to seasonal price trends, unless I have the orientation of this chart incorrect, then it would appear that the best time of the year is in front of us, not behind.

Gold saisonal

The Bloomberg bit about China gold demand is taken from the WGC numbers, which are in another universe from what the SGE weekly withdraws show.

I would also point out that the during the last tightening cycle gold appreciated significantly.

What they have posted isn't even analysis, its the re-parroting the news from the shill banks and financial media. I hope they celebrate the 4th holiday tongue deep in a fart box somewhere.

Jul 3, 2015 - 4:21pm

Question for A. Maquire

What do you think is the MAIN goal of the the bullion banks ?

1. Is it profit ?

2. Is it price suppression ?

3. Is it something else ?

Because profit would logically imply a short squeeze.....But price suppression...I'm not so sure.

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The TFMR Silver Round
Key Economic Events Week of 2/11

2/12 12:45 ET GCP speaks
2/13 8:30 ET CPI and three Goon speeches
2/14 8:30 ET Retail Sales (December)
2/14 8:30 ET PPI
2/15 8:30 ET Import Price Index
2/15 9:15 ET Cap. Util. & Ind. Prod.

Key Economic Events Week of 2/4

2/5 8:30 ET Trade Balance
2/5 9:45 ET Service PMIs
2/5 9:00 pm ET Trump SOTU
2/6 8:30 ET Productivity and Unit Labor Costs
2/6 7:00 pm ET CGP speech
2/7 9:30 ET Goon Clarida speech
2/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 1/28

1/29 10:00 ET Consumer Confidence
1/30 8:30 ET Q4 GDP first guess
1/30 2:00 ET FOMC fedlines
1/30 2:30 ET CGP presser
1/31 8:30 ET Personal Inc, Cons. Spending and Core Inflation
1/31 9:45 ET Chicago PMI
2/1 8:30 ET BLSBS
2/1 9:45 ET Markit Manu PMI
2/1 10:00 ET ISM Manu Index
2/1 10:00 ET Construction Spending

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