A2A with James Turk of GoldMoney

56

James Turk is a legend in the precious metals sector. As founder of GoldMoney in 2001, James has long been an advocate of sound money and physical precious metal ownership. What a treat to have him stop by TFMR again today and answer subscriber questions in our A2A format!

Among the questions covered in this webinar:

  • The short-term paper market conditions as well as physical metal issues on the ground in London and elsewhere
  • The sham of ETF gold "ownership" and the fallacy of the 580 mts allegedly added to gold ETFs in 2016
  • How much longer the BoJ and other central banks can continued their failed cash-printing policies
  • Are royalty companies preferred investments in the metals sector
  • And much, much more!

Please be sure to give this recording a thorough listen. When you're finished, you should consider buying James' book, "The Money Bubble". It's a great read. You should also give strong consideration to becoming a GoldMoney customer as they are a prominent advertiser and supporter of TFMR...and I own some Bitgold, too!

Enjoy,

TF

  56 Comments

Jul 21, 2016 - 3:09pm

Since there's no podcast today...

Just a few, very interesting open interest comments:

  • Gold yesterday, while down $14 in price, only saw a reduction in OI of 3,000 contracts to 614,079. This is very surprising, given the pending August expiration and it likely indicates a fresh new surge of spec momo shorting. Many of these may have already been squeezed right back out today. We'll see.
  • And there definitely appears to have been some fresh momo shorting in silver yesterday, where expiration and roll is NOT a current issue. On the 40¢ down day, total Comex silver OI rose by another 1,400 contracts to a new alltime high of 220,587. Check this: Since the current pullback began on July 11, silver has fallen by 48¢ while its Comex OI has risen by nearly 9,000 contracts. The CoT on Friday should help delineate how much of this is new Spec shorting and, thus, future squeeze fuel.
  • And check the OI in the still-delivering July gold! We've seen a RECORD amount of "deliveries" for a non-delivery month at 6,068 as late-comers "jump the queue" and seek delivery NOW instead of waiting for August. And why wouldn't they? Recall that June saw a record for "deliveries" during an actual "delivery month" with a total that came in at 15,785 contracts or 49 metric tonnes. That was more than the previous 5 "delivery months" combined and is just another anecdotal datapoint of extreme tightness and demand for physical gold worldwide.
uni59
Jul 21, 2016 - 3:14pm

1st

1st 1st in iowa

philly
Jul 21, 2016 - 3:43pm

2nd! I know I'm not supposed

2nd! I know I'm not supposed to pay attention to the daily ups and downs in Ag, but it always does my heart good to see a sharp up move! Keep stacking Turdville...it could be your salvation when TSHTF!!

Mr. Fix
Jul 21, 2016 - 3:45pm
RickshawETF
Jul 21, 2016 - 3:48pm

Fourth

Fourth?

I guess Marchas is out stacking . . .

RickshawETF
Jul 21, 2016 - 4:01pm

K92 Mining

. . . finishes up 26.58% for the day at $1.443 ! ! !

SteveW
Jul 21, 2016 - 4:40pm

How do I get bitgold?

Click on the ad plastered on the front page!

bilambiljet
Jul 21, 2016 - 4:49pm

Top 10

Another beautiful sunrise here in QLD. Coffee and a listen to a Turd & a Turk.

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Incorrigible
Jul 21, 2016 - 4:54pm

Premium on Physical

Why not just buy a silver futures contract and take delivery at basically spot? Don't you automatically make about $500 on that right away on 1,000 ounce contract?

Rakka
Jul 21, 2016 - 5:12pm

Bitgold & GM

I dont how many been considering getting some shares of GM/Bitgold; i set-up an account with Turd as my sponsor. I dont have GM account. I always thought James Tuck was nice grandfatherly guy, but he ended up being wise & way ahead of the pack

I was very suspicious & wary when they both merged a year ago; but this company is going to be bigger than PAYPAL, which I hate using Paypal, No Ebay for me either.

We have alot of Texans out their saying, "All hat, no cattle"; so I really thought the Bitgold was way over-hyped, but the company has 1 million users, very easy to sign-up & begin saving in gold w/free storage, etc.

in the past year, bit gold have 48 million buck in small factional gold, free storage in very many locations around the world out of banking system.

I got my gold money prepaid debit card, many times better than my expectations, I have been adding small amounts every week, all of this is linked to my VISA credit card, and my checking accouts.

Dave Kranzler has been piling alot of money into this account, really valuable for price of gold up, but also, its his gold checking account or Gold Card.

Bitgold has now opened up a for you small business owners to pay your employees, in gold, its really growing and many bitgold customers are using the allotment for an allotment to their paycheck.

I added mine, so now I have credit card, checking, an 2 times month allotment to my gold checking account, I can use this card against my entire stack of bitgold, so my checking account is safe and available.

I dont like the bitgold cubes and I havent withdrawn anything yet, but I can tell you the good feeling i have for this company.

Another thing I dont like is arrogant Peter Schiff, but he finally climbed on board, and kind of admits he was jealous of the ability of bitgold to do exactly this for free, when he was mugging fees of 1 arm & one leg. Anyway, he Schiffgold is on-board, I dont like him, no worry. The banking accounts will grow.

I think BitGold will be multibillionares. I havent bought any stock yet, just making observation that this company has way over-delivered my very low expectations.

Any other thoughts?

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