Holiday Weekend Jackass

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It's a sort of tradition around here that whenever we have a three-day market holiday weekend, we try to check in with Jim Willie. And this time, we used our A2A webinar format so that subscribers of TFMR were able to ask their own questions in real time. It was great fun and I think you'll find it all quite thought-provoking.

What topics did we discuss over this 97-minute call? Maybe a better question is...what topics did we not discuss? In this podcast you'll here Jim pontificate on Trump, Syria, North Korea, gold, China, gold trade notes, silver, the mining shares, the Fed, debt jubilee, interest rates, the dollar, platinum and even his thoughts on Journey entering the Rock-and-Roll Hall of Fame.

So sit back, relax and enjoy. And have a great holiday weekend, too.



ukdavec's picture


James Corbett drops the best bomb of all ... A TRUTH BOMB!

Doople's picture


Good to see you don't need the USA. Clearly the institutional memory of the USA saving New Zealands' ass in 1942 is gone. Perhaps when you need us in the future and we do not show up, you can call on China.

Maestro's picture

God bless America?

In response to those that still utter this request..... why would anyone think that God would?

It should be "Forgive them Father, for they know not what they do"

billhilly's picture

@infometron or libero

Do you have the source for that list of the rebalancing in GDXJ that has been going around ????  I cannot find anything anywhere referencing this and would love to see where its coming from.  Many thanks, bh

billhilly's picture

Friday FUN !

spend 6 minutes and let your worries melt away....this is beautiful !

The man flying the 3 kites is in his 80s, and he's from Canada. He comes to the Washington State International Kite Festival every year. His skin is like leather as he normally flies with his shirt off. He is deaf, so when he flies we hold our hands up and wave them for applause. He flies 2 with his hands and the 3rd one is attached to his waist. Enjoy!

djr66's picture

GDXJ list

I posted a list Friday afternoon that came from a Bank of Montreal research report.  This list is not an official list.  That list will be published by Van Eck on June 9th, a week before the official rebalance in June.  The analyst was just speculating on the amount of shares that will have to be moved given the size of the fund and the current weightings.  He was also speculating on the names that would likely be added to the fund.

texmex66's picture


WOW! Thanks for sharing.laugh


Libero's picture


This was the article that I referred to, no list, but someone posted a list.


onesong's picture


You couldn't be on my ignore list if you tried... Thanks for that!

Pining 4 the Fjords's picture


You said "My suggestion is to move to GOEX (previously GLDX) or SGDJ (sprott) if you want higher returns. GDXJ is steadily going to move to larger and larger stocks as the ETF grows in size. If looks like another solution is to create your own portfolio of mid-tier producers. It will have more risk than an ETF, but more upside potential."
But the problem is that every single stock in the Sprott portfolio is on the GDXJ rebalancing list- I spent an hour today looking at the degree to which it will be hit:  short version is, quite a lot.

The top 1/3rd of the portfolio will be OK, the selling will be offset by GDXJbuying a lot of Osisko, a small loss overall. The middle third will take a significant hit, the  bottom third (the smallest market cap companies, most illiquid, smallest float, worst positioned to absorb this selling) will get creamed.  My comment is here:

But I encourage you to go through the list, look stock by stock through the Sprott juniors portfolio and see if you think those companies can afford the level of divestment that announcement seems to say (6 days worth of average shares traded? 8 days worth of average shares traded? Etc). Not only will they have to absorb this selling, who will be buying, knowing the GDXJ selling is coming? And knowing that no more GDXJ money is ever going to be flowing in, at least anytime soon...   seems like a bloodbath.

If I'm wrong, please explain it to me, I may be missing something critical here, but if I'm not then SGDJ is going to get hammered, right along with the rest of the junior sector. The way to make money, it seems to me, is to get the heck out and wait for major mispricing that this chaos will inevitably cause, bottom feed some gem- but know that it will take a very long time to pay off...

Mickey's picture

BMO has an index fund for juniors

listed on toronto exch-it has perhaps 12 holdings.

I think this is all part of a bigger problem as money flows to the sector. higher demand, static supply.

AGXIIK's picture

Crikey Mikey and Scheeze Loooweeze

Gotta get down on my knees.  

WWIII comes up this week.

It's almost weekend as we speak

The Pork from Nork will light off nuke

The South Koreans go and puke

The Chicoms don't know what to do

The Nork's a freaking one man zoo

TrumpMAGAtude, he likes the Bomb

He just went and got one on

USS Vinson;  US Fleet

Are poise to launch, it's not discrete

Preemptive strikes are on the venue

Mini Me's is on the menu

Is he  smart; self preservation

Or jump the shark off reservation

The weekend comes?  Win, Place or Show

This  Monday we will likely know

If world is changed for bad or good

Cuz' war of words misunderstood

I need to ask of them and you

Whaddya think Jesus would do?

AlienEyes's picture

Maestro (Canada), SilveryBlue (NZ), and their ilk....

Try to remember what fools you were when the manure truck backs into the airplane propeller and you are covered in sh!t and the USA says, "Fu*k You. Save your own ass by selling it !"


The good folks in Europe started the First and Second World Wars. You liberal wretches (world wide) can't seem to remember who got your arses out of what you started. I guess that's why the fruits in New Zealand nick-named themselves after a fruit. It fits.


ArtL's picture

Let's insult anyone not like me.

this trend seems to be catching on among the denizens of Turdville. Hurling insults does not foster a close community.

please, more PM and less partisan and national politics.

AlienEyes's picture


It's the weekend and ostriches and the 'three monkeys' should pull the covers over their heads less they should encounter a flash of reality and pee themselves.


... an assemblage of sounds speak only a collection of words the 3 mortal

streber's picture

Just out...

Trump to receive Nobel Prize

lakemike49's picture

(No subject)

Newager23's picture

Pining 4 the Fjords

If I'm wrong, please explain it to me, I may be missing something critical here, but if I'm not then SGDJ is going to get hammered, right along with the rest of the junior sector. The way to make money, it seems to me, is to get the heck out and wait for major mispricing that this chaos will inevitably cause, bottom feed some gem- but know that it will take a very long time to pay off...

In the near term, yes, these mid-tier gold/silver miner ETFs will get hit. But after the rebalance in June, they should start growing again as gold prices rise. I would think that GOEX and SGDJ should not run into a similar GDXJ problem for quite a while, if at all, since they are much smaller. In fact, they both have market caps under $100 million. For this reason, they are unlikely to run into this issue and should be able to maintain their strategy as mostly a mid-tier mining ETF. 

In the long term, I would rather be in either GOEX or SGDJ than GDXJ. The returns should be better. As I stated earlier, it's my expectation that GDXJ will have to do similar type rebalance in the future as they continue to grow in size. 

Your point about the mid-tier ETFs getting hammered, or the stocks that are getting downweighted, that will depend on gold prices. I doubt that investors will watch quality stocks drop significantly in price if gold prices rise between now and June 16th (rebalance day). However, if gold prices retreat, then yes we could see some stocks get hammered.  

tanderson's picture

Did the Jews kill the people of Jericho & steal their land ?

No they did not.GOD gave Jericho to Israel, the story is found in first pages of the book of Joshua,O T.The Jews do not get a mention in the credits until 2 Kings 16:6-7.You will find there that the Jews & Israel were at war with each other.1 Thes 5 :21 ,Hag 2:8,HE owns everything so how can the word steal be used.  Tando

AIJ's picture

From Trump to Chump to.......

SilveryBlue's picture

Do you mean supporting US troops?

Is that saving our asses? You jest laugh

Safety Dan's picture

Isn't This Interesting?

From Zero Hedge's article 

China Warns North Korea War "Could Break Out At Any Moment"

in the comment section below the article:

PrayingMantis  earleflorida Apr 14, 2017 1:12 PM

... here's the banksters' bottom-line or in political parlance or manner of speaking, the proverbial Arm & Hammer red-line ...

... America is the Hammer ... and (((Red Shield))) is the Arm ...

... and the US is a Red Shield-tool Hammer looking for Nails whose Central Banking systems were still not yet owned nor controlled by the (((Arm))) ...

... in the year 2000, these were the Nails: Afghanistan, Iraq, Sudan, Libya, Cuba, North Korea, Iran, Syria ...

... post 9-11, the Hammer pounded some Nails and took out Afghanistan and Iraq along with their fictional WMDs and subsequently, their Arm-owned central banking system fell into their (((proper))) places ... and in 2003, only these Nails remained for pounding by the Arm & Hammer ... Libya, Sudan, Cuba, North Korea, Iran & Syria ...

... in Libya, the Hammer came, and the Hammer saw and he died ... Libya's nail was pounded to submission and along with Sudan, which was plagued with the Hammer's alphabet-agency's non-stop covert operations, Sudan simply gave up ... and both their banking systems likewise fell into their (((proper))) places and now controlled by the (((Arm))) ...

... in 2017, the remaining Nails are still largely opposed to be Hammered in by the Arm and wouldn't kow-tow to the Arm & Hammer's banksters ... the Hammer, showing off the Mother Of All Bullfeathers in goat-infested Afghanistan caves is now threatening to pound the remaining Nails ... they are: Cuba, North Korea, Iran and Syria ...

... the Hammer (at the behest of the (((Arm))) ) has turned up the volume and is currently bullying Syria and North Korea ... for whatever reason, the Hammer handed $150B to Iran in recent months and Cuba (protected by the Kremlin ... although the Hammer had tried to attack them during JFK's time) is getting some kind of a pass for now ... the Hammer is concentrating to pound on Bashar's Syria and Kim's North Korea simultaneously for now ...

... most recently, Russia as well as China, very much annoyed with the Hammer, are both threatening to dismember themselves from SWIFT ... the Arm-owned financial tracking system, SWIFT, keeps track of all financial/monetary trading fees (which are payable to the (((Arm)))), of course and Russia's along with China's threats of going gold-standard (and with the blessings of the remaining BRICS stronghold) would drastically downgrade the (((Arm's))) earnings and this is why the Hammer had been belligerent towards the BRICS leaders particularly Vlad and Xi ... after all, the BRICS control half of the planet's economy ...

... now, you connect the dots and you'd have a much better understanding on why the Hammer, with a new leader POTUS (who, for whatever reason is practically a 180-degree opposite to the candidate during the 2016 compaign, and who, apparently, just recently joined the Dark Side), Darth Trump, is all-in on, absolutely, in following the (((Arm's))) directives and objectives.

Safety Dan's picture


Safety Dan's picture


Safety Dan's picture


I posted a great comment/review of why we see wars, a visual aid what the US Dollar has done over the last 100 years, and another visual aid re: mining's "golden triangle" with purpose in mind.

We know what our Federal Reserve does, along with Rothchilds other Central banks... 

What natural resources does Iraq, Afghanistan and Syria have available?

If you guessed oil and an proposed oil pipeline, plus PMs and other strategic ores (found in surface deposits verified by the USGS), you would be correct.

How does that make you feel?

SilverBelle's picture


Thanks for sharing the book recommendations.   The first one I have ordered.  I'm familiar with the second one as education is a primary area of interest of mine.

Your comment "culture is religion externalized" reminded me of this book.  Enjoy.


Maestro's picture

more Kool Aid A.E.?

Thats it....drink long and hard my friend.  Remain ignorant to the historical proof that the U.S. is the greatest terrorist on the planet.

You really think we need or want you to "save us"?  

America the free!...just how free are you in a world where everyone reviles you?

If you are not part of the're part of the problem.

drink my friend...,that's it...drink

SilverBelle's picture


I think you were referring to the song "Old Black Joe."   Although it sounds like a traditional African American spiritual, it was written by Stephen Foster in the mid 1800's.  Foster is oftentimes referred to as the father of  American music.  Many of his songs are taught (at least at one time) in elementary school, such as "Oh! Susanna," "Camptown Races," "Swanee River," and "My Old Kentucky Home."

Many people may recognize "Ode to Joy" from the hymn "Joyful, Joyful We Adore Thee."  Around 1900, Henry van Dyke, an American, wrote the poem "The Hymn of Joy" (better known as "Joyful, Joyful We Adore Thee") with the intention of setting it to the melody of  Beethoven's "Ode to Joy" in the final movement of his Symphony No. 9.  This hymn is sung in most English speaking churches.

SilverBelle's picture


Here's an interesting article discussing Beethoven's Ninth Symphony.

German prisoners held  captive by Japan during World War I introduced the Japanese to Beethoven's Ninth Symphony.  Interestingly, it has become a Japanese tradition to perform it on New Year's Eve.

This topic got me scouring the web.  I discovered that in 1985 the European Union made Beethoven's "Ode to Joy" its official anthem, although the lyrics are not sung in the anthem.   It being the EU anthem probably explains this flash mob.  I have this video saved under my "PickMeUp" bookmark.  Watching this always puts a smile on my face.

Maestro's picture

Careful what you wish for A.E.


Forget the ‘mother of all bombs,’ meet the Russian-made ‘daddy’

Published time: 14 Apr, 2017 13:44Edited time: 14 Apr, 2017 17:19

Get short URL

Forget the ‘mother of all bombs,’ meet the Russian-made ‘daddy’

The bomb is four times more powerful than the one dropped by the US in Afghanistan. © Reuters / Reuters 

The US boasts that its GBU-43/B Massive Ordnance Air Blast bomb (MOAB), known as the ‘Mother of all bombs’, is the largest ever non-nuclear bomb used in combat but, don’t be fooled, Russia possess something far superior. Kids, meet Daddy.

TrendsTrump's Afghanistan mother bomb

The Aviation Thermobaric Bomb of Increased Power, known as the ‘Father of all bombs’ (FOAB), was developed by Russia in 2007 and eclipses its US rival in both power and efficiency.

It can inflict a 44 ton-yield when detonated, compared to the 11-ton-yield of the mother. Unlike its US counterpart though it’s less hefty, weighing in at 7,100kg compared to 8,200kg.

READ MORE: Meet the ‘Mother Of All Bombs’: 6 facts about bomb Trump dropped on Afghanistan

The FOAB explodes mid-air, combining with atmospheric oxygen to extend the blast radius as it vaporizes targets and collapses structures. Gases are burnt within the vicinity of the blast producing a vacuum, which can drag objects in towards the center of the explosion.

Following its 2007 test, the location of which is unknown, the targeted area was left with scorched earth described as looking “more like the surface of the moon.”

Alexander Rukshin, a deputy chief of the Russian armed forces, said at the time it showed “its effectiveness and capabilities are comparable to nuclear weapons. At the same time use of this weapon does not damage or pollute the environment, like a nuclear weapons.”

Russia’s defense ministry said its development did not contradict any international arms agreement, insisting it’s not the start of a new arms race and that the FOAB would replace smaller nuclear bombs in its arsenal.

The FOAB differs in one significant way to the MOAB though – Russia has never felt the need to use it.

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