A2A with John Butler

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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!



Mobius's picture

1st First


UulaBear's picture

Second gets the Silver!

Exciting times!! 

RickshawETF's picture


Thurd!  Do I get copper?

BIGNASTY's picture


I will take what I can get!

canary's picture

GLD lost 3.26 tones of gold today

If that means anything.

Marvus's picture



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's picture

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's picture

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.

Turd Ferguson's picture

I guess, as John mentioned,


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

Glad you have access to it!

Response to: Bitgold
RickshawETF's picture


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's picture

Greenspan: Monetary policy has hit the wall


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's picture

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's picture

Thanks TF

Just another excellent podcast with a very knowledgeable guy.

AlienEyes's picture

@ 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's picture

OT - Asahi 10 oz bars

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

Keep Stacking:


gazzmann's picture

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's picture


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's picture


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's picture


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's picture


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's picture

Rob Kirby

Dollar Devaluation Clock About to Strike Midnight

RickshawETF's picture


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's picture

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.


gazzmann's picture


getting hammered....and gold going nowhere. 

Blythesshrink's picture

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.

Turd Ferguson's picture

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's picture

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's picture

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's picture

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!


Turd Ferguson's picture

Lots of resistance at $1232


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

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