A2A with John Butler

34

Every week, we try to give you access to some of the smartest and most knowledgeable people in the precious metals sector and this week doesn't disappoint. John Butler is an analyst, author and executive at GoldMoney. He's also one of the smartest guys you're ever going to come across. Be sure you give this podcast a thorough listen.

Just a few of the topics addressed in this extraordinarily insightful podcast include:

  • The possibility/likelihood of new gold-backed currencies or notes
  • Today's news regarding the metals-rigging admissions by Deutschebank
  • Why gold must be revalued higher in order to deal with the massive quantities of global debt

Again, please be sure to listen to this entire recording. I guarantee you'll learn something new or, at least, gain a different perspective on issues that concern all of us. Thanks again to John for giving us so much of his time!

TF

  34 Comments

Mobius
Apr 14, 2016 - 5:32pm

1st First

Yeah!

UulaBear
Apr 14, 2016 - 5:35pm

Second gets the Silver!

Exciting times!! 

RickshawETF
Apr 14, 2016 - 5:43pm

Thurd!

Thurd! Do I get copper?

BIGNASTY
Apr 14, 2016 - 6:17pm

Forth

I will take what I can get!

canary
Apr 14, 2016 - 7:29pm

GLD lost 3.26 tones of gold today

If that means anything.

Marvus
Apr 14, 2016 - 7:54pm

Bitgold

turd,

 You mentioned a few times asking when the big gold platform will be available in America. I've had my card for over six months and have been using it and I live in New Jersey, are you not aware of this? 

Fred Hayek
Apr 14, 2016 - 8:32pm

Good Stuff, Craig.

You can tell that John knows his stuff.

But I think he sells the import of the DeutscheBank settlement a little short. As James McShirley's chart showing precious metals dropping in price during the period between the AM and PM gold fixes all while gold was quintupling in price, proves, the dominant abuse there was price suppression. And there is NO way that it could go on like that without the blessing of the U.S. and U.K. governments.

canary
Apr 14, 2016 - 8:57pm

White House meets Yellen

I think the real message to Yellen, was to keep easy monetary policy (no rate hikes) through the election year...to help Hillary win the election.

Marvus
Apr 14, 2016 - 9:02pm

I guess, as John mentioned,

I guess, as John mentioned, it's a function of where you live. 

Glad you have access to it!

RickshawETF
Apr 14, 2016 - 9:12pm

BitGold

I thought BitGold Cards were not available in the U.S. at this time . . .

Do you hold gold, buy something in dollars using your card, and your gold account is decremented at some current gold/USD exchange rate?

Gramp
Apr 14, 2016 - 9:25pm

Greenspan: Monetary policy has hit the wall

https://finance.yahoo.com/news/greenspan-monetary-policy-hit-wall-153125...

Former Fed Chairman Alan Greenspan said Thursday that monetary policy has reached the outward bounds of its effectiveness without another round of quantitative easing .

SteveW
Apr 14, 2016 - 11:08pm

Bitgold cards

@RickshawETF: Bitgold cards are prepaid, so you load them from your gold account at the current prevailing gold exchange rate paying a 1% fee for loading.

SteveW
Apr 14, 2016 - 11:11pm

Thanks TF

Just another excellent podcast with a very knowledgeable guy.

AlienEyes Fred Hayek
Apr 14, 2016 - 11:39pm

@ Fred Hayek

"And there is NO way that it (price suppression) could go on like that without the blessing of the U.S. and U.K. governments."

Well said, Fred ! Spot on !

Rakka
Apr 14, 2016 - 11:53pm

OT - Asahi 10 oz bars

I already the 10o oz & Kilo Bars & added 5 :

Keep Stacking:

gazzmann
Apr 14, 2016 - 11:55pm

Yet another

excellent A2A! Very knowledgeable man. I had to laugh at how quickly Mr. Butler pointed out he wasn't in commodities at DB.

RickshawETF
Apr 14, 2016 - 11:59pm

@SteveW

Thanks, Steve. An elegant way. 

When I/we are forced to "bug out", as long as the internet is up, we can transfer funds to the card, and then pray the infrastructure allows us to pay for things [in wherever] with a card . . .

As an aside, I already have a GoldMoney account -- I assume they haven't linked the two together yet, so I'd need to open a separate BitGold account?

gazzmann
Apr 15, 2016 - 12:15am

Question

Traditional GSR is 16/1. Countless commentators in the metals space say that silver is actually coming out of the ground at 10/1. Yet so many of those same commentators say GSR will re-balance at about 30/1. Why wouldn't GSR go back to at least 16/1? Why are so many saying 30/1? 

RickshawETF
Apr 15, 2016 - 2:24am

@gazzmann

Most analysts use 30:1 as that is the more "common" ratio of the modern era (the last 50 years or so). You have to go all the way back to 1980, when the Hunt brothers were cornering silver (and the price soared to $80) to find the last time the GSR was below 30.

I've heard some analysts comment that silver should be priced higher than gold, and some say the ratio could dip to 10:1 or even 1:1 (man oh man, imagine trading an ounce of silver for an ounce of gold!). cool

gazzmann
Apr 15, 2016 - 2:54am

RickshawETF

Great info. Thanks. I think SS121 might agree with that 1:1 figure you mention. But it sounds like our increased ability to extract resources has pushed the traditional ratio to 30:1.

gazzmann
Apr 15, 2016 - 3:44am

Rob Kirby

Dollar Devaluation Clock About to Strike Midnight

Rob Kirby-Dollar Devaluation Clock About to Strike Midnight
RickshawETF
Apr 15, 2016 - 3:47am

GSR

Since "markets" tend to over-correct, I would think the ratio might dip to 20:1 (probably with something like $200 silver and $4,000 gold) at some point, at which time I will shift a significant portion of my silver into gold . . .

James Crighton
Apr 15, 2016 - 4:08am

BitGold and GoldMoney

Some of you may remember the trouble I had taking delivery of my silver from GoldMoney and my gold from BitGold (never did take delivery in the end). I would now like to clarify my opinion on these two services:

1) They are good for transacting online.

2) They are not good if you want to take delivery - they discourage this (taking delivery) by placing high barriers - at least in my experience.

So - if you are not intending to take delivery, then these two companies seem to be fine (in my experience); BUT, my recommendation (according to my experience) is not to plan on taking delivery of the phyz.

jc

gazzmann
Apr 15, 2016 - 7:14am

USD/JPY

getting hammered....and gold going nowhere. 

Blythesshrink
Apr 15, 2016 - 7:34am

Is USD/Yen was to break to

Is USD/Yen was to break to new lows next week, I think we could see the commercial shorts blow up in their face. I'm encouraged that despite the H&S pattern, gold hasn't sold off more overnight - although we'll have to wait and see how today plays out at the Comex.


Apr 15, 2016 - 9:20am

Today's Sprott audio

I still have to pinch myself sometimes that I get to do this. Every Friday morning, I get to have a cup of coffee and then call Eric directly on his cell for a 20 minute discussion of the week in PMs! Can you freaking believe that?!? I mean, the guy's a billionaire and an absolute legend in our sector...and yet, dipshit Turd gets to talk to him every week! Amazing.

Here's the latest, recorded 20 minutes ago: https://soundcloud.com/sprottmoney/sprott-money-news-41516

canary
Apr 15, 2016 - 9:32am

Industrial Production print was a total disaster

Same as the Capacity Utilization index ...(indicates future growth).

Just wait a minute or two....ZH will be all over it in its best.

canary
Apr 15, 2016 - 9:47am

BTW...it's another "Never, never, ever" day test

Though on a mini scale....Maybe it shouldn't count. wink

Asia and London were slightly up......Can they do it in NY with that awful Industrial Production print?...I see them trying.

chrtoo TF
Apr 15, 2016 - 9:49am

Sprott Audio downloadable.

I am really grateful that these podcasts are downloadable, again, whether Craig had any influence on that or not. I shall listen to you both while in the garden, as a result.

Thanks Craig!

CHR.


Apr 15, 2016 - 10:33am

Lots of resistance at $1232

And what's at $1232? Oh yah...the 50-day MA!

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