A2A with Dr. Dave Janda


Dave Janda is the host of the weekly radio program, "Operation Freedom", and he joined us today for a wide-ranging discussion of healthcare, the markets, the economy and the criminal syndicates that seek to control all three.

It would be nearly impossible to summarize this podcast into a neat, little collection of bullet points. Therefore, I'm not even going to give it a try. Please just simply carve out the time to give this a thorough listen.



Aug 27, 2015 - 2:48pm

1st in Japan

oh yes

Dr. P. Metals
Aug 27, 2015 - 2:51pm


:) Ha: edit 2nd...Marchas still is in the running then!

TF Metals fan
Aug 27, 2015 - 3:02pm

Happy third

smiley OK fourth (beating Marcha) feel nice as well.

Aug 27, 2015 - 3:04pm
Aug 27, 2015 - 3:07pm

Bear Market Bounces

Are always strongest at the beginning of bear markets!

Look out below Sir Equity.

arch stanton
Aug 27, 2015 - 3:22pm

Dr. Janda

One of the best A2A's yet. I truly admire the man's courage. He has a whole lot to lose, and yet he speaks out, and has a hell of a platform to speak from. He is truly one of the best of the good guys.

Aug 27, 2015 - 3:23pm

PPT took a coffee brake....

...and look what happened. ....They're back at work now.......No time to relax anymore.

Danforth Coxwell
Aug 27, 2015 - 3:30pm

....and just to prove a point

the markets will be driven up for the 16:00 close. Don't let a little Chinese bond selling worry your pretty little head....cause all is well in the world!!!!

Aug 27, 2015 - 3:30pm

it's a one way streer for the miners

been watching this crap for too long. Even energy stocks are allowed a bounce once in a while. The US government wants all miners extinct, there is no doubt left in my mind.

Aug 27, 2015 - 3:59pm

The Fed Spent $23 Billion In 3 Days, Pushing Up Stocks

The Fed Spent $23 Billion In 3 Days, But Still Had A Hard Time Pushing Up Stocks

Avery Goodman Aug. 27, 2015 3:42 PM ET .... Full text for those not signed up to Seeking Alpha articles


  • On Monday, August 24th, the Fed injected $18.54 billion from a "reverse repo fund" filled with cash accumulated at the end of QE3.
  • The $18.54 billion was exponentially greater than what has been previously needed to stabilize stock prices.
  • On Monday & Tuesday, primary dealers failed to move stocks up, because overhead resistance was too strong, and a tactical retreat left the DOW down by a combined 793 points.
  • On Wednesday, the Fed added $4.446 billion, and combined with a mildly positive durable goods report, the primary dealers succeeded in pushing the DOW upward by an astounding 620 points.
  • A September rate hike is off the table, but soon the Fed will have to accept a huge drop in stock prices or a return to money printing.

There was a time, pre-2007, when the Fed could move the DOW up or down by 100-200 points merely by injecting or withdrawing a few hundred million dollars. The idea of injecting a whopping $18.54 billion, in one single day, was something that would have been impossible to imagine. Times change...

On Monday, August 24, 2015, the Fed injected more than $18 billion dollars. In spite of that, the DOW dropped by 588 points, and by the end of trading on Tuesday, it was down a combined 793 points for the two days. What I am talking about? I am talking the sudden failure of the traditional methods that the Federal Reserve uses to control the behavior of millions of investors.

How they injected new money into the market, without actually printing any new money yet, requires a discussion of the little known concept of something called "TOMOs" and "REVERSE TOMOs". At the end of QE3, the Fed collected just over $100 billion of the then-newly-printed dollars into a fund composed of "REVERSE TOMOs". As you will see, REVERSE TOMOs work exactly opposite to the manner in which TOMOs work. So, to avoid confusing you, I must get into a discussion of what these two things are.

The Fed has been pushing markets upward by actively printing a lot of money ever since 2001. The first phase of the printing extravaganza was not called "QE" because, theoretically, the money that was printed was not permanent. Non-permanent money printing is called a "temporary open market operation" a/k/a "TOMO" a/k/a "repo transaction". "QE" is something different. It is officially known as a "permanent open market operation" a/k/a "POMO". To understand what I am talking about, I have to start talking about an area of finance which is somewhat confusing.

TOMOs, or "repo loans" can be thought of as a type of temporary QE. The central bank prints up a quantity of money, usually at the request of its primary dealers, the dealers take the money, and they hand over bonds in return. The money is used for whatever the big banks want to use it for. In practical terms, it is used for influencing stock, bond and commodity price both up and down, depending on Fed policy.

Another transaction, used by the Fed and its dealers is the so-called "reverse repo" or "REVERSE TOMO". In this type of operation, the central bank hands back the bonds, and the primary dealers hand back the money. The process of using TOMO and REVERSE TOMOs to move prices involves catalysis, rather than brute force. Neither the Federal Reserve, nor any other central banker for that matter, has the resources to fight the entire market.


Aug 27, 2015 - 4:16pm

Re: Bear Market Bounces

OK, f**k me, never mind then. Yeah, who's the idiot. What a FACE MELTING rally off that mini sell-off.

Never underestimate the power of central planning and their abilities to control all asset pricing.

Aug 27, 2015 - 4:17pm


In what was the largest 3:00 pm ramp jobs in recent memory, the S&P just powered about 40 points in the final hour to go out on its high of the day.

Aug 27, 2015 - 4:18pm

This is encouraging


After the close of trading Thursday, Carl Icahn filed a 13D on Freeport-McMoran (NYSE: FCX) showing a new 88,000,000 share, or 8.5%, stake in the company.

I was just checking out FCX stock yesterday too! Now up over 30% from yesterdayangry

Aug 27, 2015 - 4:21pm

That's all well and good and

That's all well and good and I'm sure Avery is correct in this matter. The only thing that he misses is WHAT made Wednesday and today different and allowed the UPside to take hold. 

The WHAT is the concerted effort by the BoJ and others to drive the USDJPY higher and thus flipping the HFTs to buy mode from sell mode.

Aug 27, 2015 - 4:31pm


Just realized...that my every single "save haven" purchase (metals and miners) I could buy cheaper, many of them...much, much cheaper. .....Am I the "most miserable investor" on this forum....or just the "average Joe"?

Aug 27, 2015 - 4:41pm


Personally, I'd never consider miners to be a safe haven.

As for metals, remember that they are a safe haven for an event that has not happened yet. Has the event started? IMO, yes. But again, it's just begun. Keep the goal the goal--ie, SAFE HAVEN.

Could you have bought cheaper? Maybe--maybe not. Bottom line, you didn't, so get over it. Again, keep the goal the goal--safe haven for what WILL be...not what IS.

4 oz
Aug 27, 2015 - 4:52pm
Chuck Diesel
Aug 27, 2015 - 4:59pm

GDX up 5.75% today

Quite the late day surge, ending on double the average volume. No doubt short covering and an oversold bounce, but a nice rally nonetheless. I'm curious if Icahn's FCX news got people thinking about miners

Aug 27, 2015 - 5:02pm

Carl Icahn buying stock in FCX

very good sign for commodities. Coal was unbelievable today. PMs have not traded all that differently from all commodities. Before the gold bull took off in 2000/2001 ....oil had bottomed well before...Turd, I think you would do some good site promotion by making this A2A public. Janda is as real as it gets...folks will like it............I extend him a sincere, heartfelt, electronic "bro hug"...he has some cajones and he is simply being honest and living an honest life. My bus. partners and I got a colonoscopy from the IRS several years ago. We were making gobs of money and they just didn't like it. After 4 months it came down to, "what is it going to take for you to stfu and leave us alone? There is nothing here." We negotiated a settlement and that was that. We did not owe them anything, but the law is so loosey goosey arguing it is a literal pissing match. Their demands were just stupid. like, "What did you discuss at this dinner meeting 3 years ago?" "uh, business? wtf do you think? It is proprietary information, anyway....." round and round. The only thing they knew was that we had lots of income and lots of expenses......and they know you aren't going to get any money from folks that don't have it. "Goat rodeo" is an insult to decent goats!

Aug 27, 2015 - 5:14pm

Fascinating USD/JPY vs S&P Chart Since QE

Amazing to see the bird's eye view of initial QE launch and its affect on these pairs. Given the Yen Carry Trade switched from US govt bonds to US equities at this time, it's easy to understand how this materialized into the greatest trade of the century for Wall Street...since 2011, the remarkable correlation:

Wingy canary
Aug 27, 2015 - 5:24pm


No, as far as I can see, you are just an average joe. I'm the outlier. I was just too poor to buy at inflated prices, so my small stack is still above water. I did buy 6 or 7 hundred ounces this year, but I was and still am fairly leery of 'the market' so I don't have much 'invested' in miners. Just a mutual fund that I bought in the early '90's. I'm still ahead on that one too. It helps to have started when silver was selling in the $4 to $5 range. But for the folks who were late to the party you are typical.

I come to this site for several reasons. First, Turd runs a fast paced fun site. I mean, he calls himself 'Turd', and not "Truth, Justice, and the Oracle of Delphi'. Second, for the dearth of posters, they all seem to be smart. Smarter than me, that's for sure. So it's an education. Turd brings in guests that come at this subject from a variety of perspectives with quite some expertise in there own branch of the gold and silver biz. Plus Turd is no slouch on the subject, so I've come to look forward to his posts, links, and podcasts, just for my further edification and oh yes, entertainment.

The main thing is, I have never looked at PM's as an 'investment'. To me they are an insurance policy against the stupidity of TPTB. Well, they are not stupid, but their goals are not my goals, and they don't listen to me. So, in case the house of cards comes crashing down, I won't be rich (That's not my goal), but I may have some choices that others don't have. This is important to me for the protection of my wife, who I adore, and oh yes, me if I survive.

So I'm not a trader. I have sold exactly 1 silver dollar in my life. And only because of the date on that coin. Oh, I made a $10 profit on that coin. Lol, I spent that on cigarettes. I guess I'm a stacker, but it's a one way street. I would never sell my 'stack' for a car, or a trip. That alone makes me the outlier on this site.

Aug 27, 2015 - 5:25pm

While Turdites were tuned into DrJanda

I was out selling bullion. Consequently, I spoke with my wholesaler again today. While ASE's were in stock at a 20% premium two days ago, they are now on a three week backlog. He said that two days ago they sold out, plus their next week's allotment. Yesterday, he said they sold out of the week after that! I asked if he had any silver anything for sale that was in the vault. He said no. I'm lucky I was on the horn with him so early two days ago. I think I got in under the wire.

In my opinion, based on every indication I have been reading about and every indication I have in my local sphere of influence, I think these are the signs of the beginning of a market failure in physical precious metals. When my wholesaler goes dark, I think we'll be there.

Aug 27, 2015 - 5:32pm

Aug 27, 2015 - 5:36pm

Just so that everyone clearly understands

There is no "market". It's all a big sham/scam where the Central Banks move the forex markets in an attempt to make the HFT algos do what they want them to do.

Witness the past 24 hours with special attention paid to the latest 3:00 pm EDT (2:00 pm on this chart) stick save. The are no fundamentals. Simply HFT machines taking trading clues from the heavily-manipulated forex.

Last Man Standing
Aug 27, 2015 - 6:42pm

One of your Best A2A

Good Guest and Great Topic's of Conversation. My Appreciation For your Efforts Turd.

Aug 27, 2015 - 6:49pm

Fantastic Interview!!!

Extremely interesting!! smiley

And excellent audio quality! (important for non native English listeners)

Nick Elway
Aug 27, 2015 - 6:52pm
Fred Hayek
Aug 27, 2015 - 8:18pm

Good stuff, Turd.

Gotta love Dr. Dave's interviews. He's a very sharp guy and he doesn't pull any punches.

Fred Hayek
Aug 27, 2015 - 8:20pm

Question about the USDJPY for the forex savvy

How does that ridiculous correlation get broken up?

Could another nation, such as China, step in and break it up?

Is there any pressure in Japan to have Abe and his lackeys cut the crap?

boomer sooner
Aug 27, 2015 - 8:23pm

Pub Pres Nominee

DEEZ NUTZ! Lol Fantastic intervIew, thanks TF and Dr Janda!

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