A Labor of Love from The Golden Jackass


As per tradition here at TFMR, our pal Jim Willie stopped by to celebrate the 3-day holiday weekend of Labor Day in the U.S. You should be sure to carve out some time to give this audio a thorough listen.

I decided to change the format a bit for this show. Instead of a list of questions for The Jackass to answer, I thought it would be fun to just simply give him some general topics and then just let him ride a stream of consciousness to wherever his big brain leads him.

Those three topics could be loosely described as:

  • The Fed/Bonds/Derivatives/NIRP/EU Banks. This is the first 20 minutes or so.
  • The G20 meeting in September/The IMF SDR inclusion of the yuan in October/gold. This evolves over the next 15-20 minutes.
  • International rejection of US treasuries/The future of the dollar/Gold-backed bonds/Gold-backed trade notes. This is the final 25 minutes.

So, anyway, have fun listening. I tried to keep my input to a minimum as most subscribers here at TFMR already know what I think on most of these issues. These podcasts are designed to give you access to what The Jackass thinks, instead.




Sep 1, 2016 - 3:23pm

1rst. That's right 

1rst. That's right

Sep 1, 2016 - 3:23pm

1st in Japan

awesome now to listen

Sep 1, 2016 - 3:24pm


in Hawaii!!! Mahalo

Sep 1, 2016 - 3:25pm

I call it


Keep stacking turdites!

J Siefert
Sep 1, 2016 - 3:25pm
Sep 1, 2016 - 3:36pm

Sixth cents


Sep 1, 2016 - 3:37pm

Wah lucky 7


Sep 1, 2016 - 3:44pm

Will the next SpaceX rocket

be wearing a burkini? Or, will it be sporting a turban and one of those silly jihad beards?

Sep 1, 2016 - 3:50pm


The yield on the 30-year Long Bond has been in a 10 basis point range now for nearly seven weeks.

After looking like this over the previous 70 weeks:

Sep 1, 2016 - 4:03pm


For all of the angst, grinding of teeth and permabear growlings...silver is now virtually unchanged in price over the past nine days. IF somehow the BLSBS "disappoints" and silver closes north of this arrow tomorrow, it will catch A LOT of people by surprise and wrong-footed.

Sep 1, 2016 - 4:28pm

Won't Catch Me

By Surprise Turd. I just bought 50 oz's silver bars @ $19.00 oz. Keep Stacking

Sep 1, 2016 - 5:13pm

That was fun!!

Gotta love the ending!

Sep 1, 2016 - 5:15pm
Sep 1, 2016 - 5:22pm

Digital Enslavement – Central

Digital Enslavement – Central Banks Cryptocurrency Has Arrived

The title of this article are words used by Robert Sams, President and Founder, the privately owned, Clearmatics, that developed a new cryptocurrency called Utility Settlement Coin (USC). If you will bare with me the goal is to paint a picture of one possible future. One that is less than free and slips a one world currency into your hand without so much as whimper from the people.

There is a new cryptocurrency on the scene called “Utility Settlement Coin” (USC). This new electronic currency was developed by four of the largest banks in the world, including UBS, Deutsche Bank, Santander, BNY Mellon and ICAP.

Let’s start with the definitions of the words in the title of this article just to better understand the complexity of this issue.


Sep 1, 2016 - 6:10pm

Jim never provides examples

Turd you asked him point blank "what are those 6 or 7 events that were failures since July"? And he does not answer. This is what I don't understand, he has these mysterious sources but never provides any specifics that would allow us to check the facts.

Sep 1, 2016 - 6:12pm

I forgot!!!!

I forgot what the holiday weekend means! what a surprise!!

God bless America, Turd, the Golden Jackass and that silver chart could use a little blessing too!!

Sep 1, 2016 - 6:32pm

So, How Come Silver's

Relatively immune to this current gold takedown? WHAZZUP? Isn't this unusual for silver under attack? (It doesn't seem to be under attack.)

Marchas, you & me both. BTFD is the way to go.


Sep 1, 2016 - 6:40pm

Just bought

some pre 1933 liberties, and a five piece. What dollars were worth way back when sure does floor me.

When I was cashiering at my Dad's lumber hardware store it had only been ten years since the debasing of the coinage by LBJ. Also it was only 4 years the gold window had been closed by the Nixon. An average 3 bedroom home was 29k. I was earning 2.25 an hour and learning without knowing it.

Sep 1, 2016 - 6:46pm

BTW, That "How Much Do You Need" Piece

Did not seem to take into account that the GSR will not last long in the 70's if another % or 2 come into the phys game....Anyone else catch that?

How many of us really believe that the GSR will NOT move back to more traditional levels?

Sep 1, 2016 - 7:08pm

Big Balls to pick a date certain (January)

From my perspective, it's not if, rather when. If you know this to be true, beg and borrow to stack. Must pay the bills - that's why most of us (including me) will be holding worthless Confederate (ur, US) dollars when the time comes.

Sep 1, 2016 - 7:09pm

No you missed it

I asked him a second time because I missed it, too,. He said they were all bank liquidity failures,.

Sep 1, 2016 - 7:18pm

QE is the Proving Ground for Gresham's Law

"bad money drives out good"

Sep 1, 2016 - 7:54pm
Safety Dan
Sep 1, 2016 - 7:57pm

Bank Liquidity Failures, Check These Out...

Would Jesse James want to rob these banks today?

by Chris Kimble | Sep 1, 2016 | Kimble Charting |

Jesse James was once ask, “why do you rob banks?” His answer, that is where the money is.

From an investing point of view over the past couple of years, investors have been robbed of opportunities if they have owned the banks, as the banks have under performed the broad markets for the past 18-months. Is this trend about to change?

Below looks at Banks in the States, Europe and Italy


XLF looks to be forming a multi-year pennant pattern and it is making an attempt to breakout at (1) above. The other two charts look at banks in Europe and Italy, which reflects that both are inside of uniform falling channels.

For Europe and Italian banks to send a risk on message to banks and the broad market in general, they need to breakout above falling resistance at (2).

We humbly feel that portfolio construction between now and the end of the year will be greatly influenced by what the price action of banks, in the states and Europe/Italy.

Financials were one of the best performing sectors last month, while the broad market was quiet. Most quality bull markets in stocks have seen banks going along for the ride. What EUFN and EWI does at (2), should be huge towards if the S&P 500 can solidly breakout above 2,150 resistance zone.

Safety Dan
Sep 1, 2016 - 8:03pm

Global liquidity

Global liquidity indicators

Global liquidity: credit aggregates - Table E (PDF, CSV)

Research and analysis

Global liquidity conditions are analysed in the Highlights section of the March and September issues of the BIS Quarterly Review.

The BIS global liquidity indicators build on work by the Committee on the Global Financial System, which in 2011 published areport on global liquidity.

Publication dates

Global liquidity indicators are published quarterly in the BIS Statistical Bulletin. View our release calendar for advance notice of publication dates.

More information

See our video on "Global liquidity indicators ‒ what they are and how to find them".

The following publications provide further information on global liquidity issues:



The BIS Global liquidity indicators


Safety Dan
Sep 1, 2016 - 8:08pm

Bank liquid reserves to bank

Bank liquid reserves to bank assets ratio (%)


Amazing... How they play with numbers...

Dyna mo hum
Sep 1, 2016 - 8:12pm
Safety Dan
Sep 1, 2016 - 8:15pm

Protests Erupt in San Juan as

Protests Erupt in San Juan as Obama Forms Unelected Control Board to Run Puerto Rico

President Obama has appointed seven members to a federal control board that will run the finances of Puerto Rico’s nearly bankrupt government for at least the next five years and restructure nearly $70 billion in debt. The board is made up of three Democrats and four Republicans who will not only approve any budgets created by the island’s politicians, but also attempt to negotiate with the island’s nearly 20 creditors. On Wednesday, hundreds of protesters in Puerto Rico blocked a street in front of a hotel where bankers and business executives were gathering for a conference hosted by the Puerto Rico Chamber of Commerce. Meanwhile, a new report from the ReFund America Project has revealed firms like UBS, Citigroup, Goldman Sachs and Barclays Capital have collected $1.6 billion in underwriting fees from Puerto Rico since 2000 just for refinancing bonds to pay interest and fees on older bonds.

See short video here:


Sep 1, 2016 - 8:24pm


That's my kind of LGBT!

Thanks for that!

Now can you work on getting one for taking back the rainbow symbol of God's promise to man not to destroy all mankind again? (Gen 9: 8-17)


Sep 1, 2016 - 8:49pm

Check this out

This kinda dovetails into what Jim Willie was talking about. Is it really a bankruptcy?

I received this today from a large mail order / internet customer. They are concerned if any of the vendors have goods coming in from Hanjin.

Hanjin Shipping, the world’s seventh largest container line filed for bankruptcy yesterday after its creditors withdrew their support.

Expect delay of any cargo on a Hanjin Vessel or under a Hanjin Bill of Lading. A list of direct imports is attached.

Please be aware that many of your domestic or LDP purchases may be impacted as well. You should reach out to your vendors to determine if they have any merchandise on a Hanjin vessel.

An article on Reuters advises:

“Ports including those in Shanghai and Xiamen in China, Valencia, Spain, and Savannah in the U.S. state of Georgia had blocked access to Hanjin ships on concerns they would not be able to pay fees, a company spokeswoman told Reuters.

Another vessel, the Hanjin Rome, was seized in Singapore late on Monday by a creditor, according to court information.”


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Key Economic Events Week of 5/20

5/20 7:00 pm ET CGP speech
5/21 10:00 ET Existing Home Sales
5/22 2:00 ET FOMC minutes
5/23 9:45 ET Markit PMIs
5/24 8:30 ET Durable Goods

Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)

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