A2A with James Turk

106

A tremendous and very informative webinar earlier today with the great James Turk of GoldMoney. We covered a lot of ground in 45 minutes and you absolutely must give this a listen.

Some of the topics covered include:

  • An update on the Bitgold--GoldMoney merger
  • The physical gold situation in London and around the world
  • The dangerous financial situation of the major European banks
  • The future of the US dollar as both an international and domestic currency
  • How a Saudi depeg and move away from the "petrodollar" might affect the US dollar

And much, much more. Again, please give this recording your time and attention and thank again to James for sharing his wisdom and insights with all of us.

TF

  106 Comments

  Refresh
Antony von Clearwell
Jan 22, 2016 - 4:42am

Yep. Usdjpy jump....

Time to dump shorts :)

usk
Jan 22, 2016 - 4:01am

New Central bank intervention

Bazooka much larger than yesterday's. Billions spent in buying UDJPY by Peter Pan Kuroda this morning. "It has failed yesterday, let's start again today": don't try this in the business, if it has failed, it's because it's not the good thing to do. If you start again something wrong, it is usually called insanity. But not in the wonderful world of Peter Pan.

Safety Dan
Jan 22, 2016 - 3:36am

Now Here's A Surprise... NOT!

Pentagon Cheers as Philippines High Court Approves US Deployments

Pentagon officials are touting a great victory today as the Philippines Supreme Court voted 10-4 to approve a deal that will allow the return of US troops and weapons to military bases inside the Philippines. This ruling was related to a 2014 deal on the return of US forces, which had been challenged in court.

The agreement was related to territorial disputes between the Philippines and China in the South China Sea, with the

https://news.antiwar.com/2016/01/12/pentagon-cheers-as-philippines-high-...

Safety Dan
Jan 22, 2016 - 3:33am

KKR's Outlook For

KKR's Outlook For 2016

Thursday, January 21, 2016

Global USD Nominal GDP Growth Y/Y % (Source: KKR.com)

US ISM Manufacturing vs. US ISM Non-Manufacturing (Services) (Source: KKR.com)

Emerging Market Debt/GDP (Government, Household, Corporate) (Source: KKR.com)

Non-financial Corporate Debt/GDP (Source: KKR.com)

U.S. M&A Transactions/GDP (Source: KKR.com)

U.S. Non-financial Corporate Debt/GDP vs. U.S. Speculative Grade Default Rate (TTM) (Source: KKR.com)

(Charts are from KKR's Outlook For 2016 by Henry H. McVey on January 12, 2016)
https://www.kkr.com/global-perspectives/publications/outlook-2016-adult-...

Safety Dan
Jan 22, 2016 - 3:28am

Russian Gold Reserves.

Russian Gold Reserves.

Russian Central Bank Gold Reserves rise 6,700,000 ounces (208 tonnes) in 2015.

Russia added 700,000 ounces (21.77 tonnes) of gold to its reserves in December.

Increase in Russian Gold Reserves of 208 tonnes in 2015 is a record, surpassing record set in 2010 of 176 tonnes.

Russia has added more gold to its reserves since November 2014 (7,900,000 oz) than COMEX has in its vaults (registered and eligible) (7,780,000 oz.)

Russian Gold Reserves

https://smaulgld.com/russian-gold-reserves-grow-6-7-million-ounces-2015/

Safety Dan
Jan 22, 2016 - 3:26am

Another Sound Money

Another Sound Money Initiative from Switzerland.

Swiss Sovereign Money Initiative would require private banks to hold 100 percent reserves against their deposits.

Initiative launched by the Swiss Association for Monetary Modernization would outlaw fractional reserve banking.

A Swiss group, the Swiss Association for Monetary Modernization (SAMM) has gained the necessary signatures to force a ballot initiative, the Swiss Sovereign Money Initiative (SSMI), to change the Swiss constitution to outlaw fractional reserve banking in Switzerland.

The Swiss Constitution contains a procedure, known as the Volksinitiative (Peoples’ Initiative), that allows the Swiss citizens to put changes to the Swiss constitution up for a vote. In order to have an initiative reach a vote, its backers must gain 100,000 signatures in support of it over an eighteen month period. SAMM has gained the necessary signatures to bring the SSMI to the ballot box. A date for the vote has not yet been set.

Anti-fractional reserve, but not necessarily free market

SAMM managing committee member Mark Joób, cites six fundamental issues with fractional reserve banking (headings are from Mr. Joób/explantions from Smaulgld):

1. Money is created as debt.

Under a fractional reserve system, money comes into existence through borrowing. In order for an economy to grow SAMM aruges, increases in debt must be incurred, leading to excessive indebtedness and bankruptcy.

2. The money supply is under private control.

https://smaulgld.com/swiss-sovereign-money-initiative/?utm_source=Revive...

Safety Dan
Jan 22, 2016 - 3:23am

I'm Sure He Deserves It... Yeah Right..

Dimon's Pay Jumps 35% to $27 Million

Hugh Son

January 22, 2016 — 5:38 AM CST Updated on January 22, 2016 — 7:29 AM CST

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co.

  • Package includes $20.5 million linked to bank's future returns

  • New performance units come after shareholders rejected pay

https://www.bloomberg.com/news/articles/2016-01-21/dimon-s-pay-jumps-to-...

SS121
Jan 22, 2016 - 2:58am

U.S. stock market crash

if they crash the stock market it will be for a well-timed reason. it's no biggie.

if the stocks crash, don't be distracted by all the hype, and watch for any fundamental change in how the system operates. specifically silver chart or USD changes. changes in chart terms or roles/positions.

the stock market crash will be like a flash-bang grenade, ...while everybody is choking and screaming and bumping into each other they will attempt their switch.

if the u.s. stock market charts all drop 75% before noon tomorrow, or next week, or next month, or ... or ... you should have NO negative emotional reaction. you already know the flash-bang is coming.

maybe they take another route? don't crash the stocks? eh, it's looking like they will crash it but who knows. they absolutely are pushing toward the switch. will they take the stock crash route?? if they do it's no surprise. no matter what happens anybody stacked and watching just needs to stay cool, not be distracted by the hype, and watch for those fundamental change attempts that are welcome signs of the end of this thing. good days right here amigos,

ks

4 oz
Jan 22, 2016 - 1:08am
infometron
Jan 22, 2016 - 1:03am

@Libero Re: potential downgrades

Great catch! Thank you!!

The following companies noted as potential downgrades included in HUI & XAU

Company HUI XAU

Alamos yes no

Barrick yes yes

Eldorado yes yes

Iamgold yes yes

Kinross yes yes

New Gold yes yes

Yamana yes yes

Wikipedia doesn't give the weighting for XAU, but it does for HUI. The companies listed above comprise almost exactly 50% of the HUI. The way the HUI was attacked at the open on Tuesday for no apparent reason suggests to me this information may have been leaked beforehand to insiders... Nah, something like that could never happen, would it?

Subscribe or login to read all comments.

Contribute

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 10/19

10/19 11:45 ET Goon Chlamydia
10/20 8:30 ET Housing Starts
10/20 1:00 pm ET Goon Evans
10/21 10:00 ET Goon Mester
10/21 2:00 pm ET Fed Beige Book
10/22 8:30 ET Initial Jobless Claims
10/23 9:45 ET Markit Oct flash PMIs

Key Economic Events Week of 10/12

10/13 8:30 ET CPI and Core CPI
10/14 8:30 ET PPI
10/14 9:00 ET Goon Chlamydia
10/15 8:30 ET Philly Fed
10/15 8:30 ET Empire State Idx
10/15 8:30 ET Import Price Idx
10/16 8:30 ET Retail Sales
10/16 9:15 ET Cap Ute & Ind Prod
10/16 10:00 ET Business Inv

Key Economic Events Week of 10/5

10/5 9:45 ET Markit Svc PMI
10/5 10:00 ET ISM Svc PMI
10/5 10:45 ET Goon Evans
10/6 8:30 ET Trade Deficit
10/6 10:00 ET JOLTS job openings
10/6 10:45 ET Chief Goon Powell
10/7 2:00 ET Sept FOMC minutes
10/7 3:00 ET Goon Williams
10/8 8:30 ET Initial jobless claims
10/9 10:00 ET Wholesale Inventories
10/9 12:10 ET Goon Rosengren

Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Recent Comments

by Turd Ferguson, 1 hour 3 min ago
by pc, 1 hour 10 min ago
by tonym9, 1 hour 16 min ago
by murphy, 1 hour 18 min ago
by Juniormint99, 1 hour 31 min ago

Forum Discussion

randomness