Three Days of Jackass


As per tradition, the Golden Jackass returns today with over an hour of A+ audio entertainment for your holiday weekend listening.

The discussion begins with some additional information on Jim's latest public post found here:

From there, the conversation moves to the petrodollar, the Eurasian Trade Zone, the new Hong Kong Gold Exchange and Jim even gives some thoughts on Bitcoin and the rest of the crypto-currencies.

I'm confident that you'll find this information to be very informative and valuable. Perhaps it will help you to pass the time while driving or traveling over the weekend. Either way, sit back and enjoy 75 minutes of Jackass consciousness.


p.s. Jim is/was battling a brutal head cold. I tried to edit out as much of his coughing and wheezing as I could but my apologies if I missed a few spots. Hopefully, he'll be feeling better soon.


May 26, 2017 - 1:25pm


will take me 3 days to listen/read ... .

May 26, 2017 - 1:25pm
May 26, 2017 - 1:29pm

thank you


hope PM will stay strong today

May 26, 2017 - 1:43pm


Remember what this weekend is about Ya'll

May 26, 2017 - 1:55pm

Friday funny...


Olaf Swenson, out in his pasture in northern Minnesota, took a
lightning-quick kick from a cow...right in his crotch; writhing in
agony, he fell to the ground.

As soon as he could manage, he took himself to the doctor. He said:
"How bad is it Doc? I'm going on my honeymoon next veek and my
fiance, Lena, is still a virgin -- in every vay.

The doctor told him, "Olaf, I'll have to put your willy in a splint
to let it heal, and keep it straight. It should be okay next week,
but leave it on dere as long as you can. He took four tongue
depressors and formed a neat little 4 sided splint, and taped it all together...quite an impressive work of art.

Olaf mentioned none of this to Lena, married her, and they went on
their honeymoon to Duluth. That night in the Motel 6, Lena ripped
open her blouse to reveal her beautiful, untouched breasts. She
said: "'re the first vun! No vun has EVER seen deez."

Olaf immediately dropped his pants and replied:

"Look at dis Lena ... Still in DA CRATE!"

May 26, 2017 - 1:58pm

Oh my

Pleading the 5th.

[edit: Make that 7th. Dadrabbit claim jumpers]

May 26, 2017 - 2:15pm

Crazy Eighth!

How fitting . . .

Keep stacking!

May 26, 2017 - 2:44pm

Thanks Turd

Will ease the pain of the last few weeks.

May 26, 2017 - 2:47pm


How to get elected....

Body slam a reporter

"The race had been neck-and-neck, and then Gianforte allegedly assaulted a reporter. It seemed his chances were doomed. But if callers to talk radio were any indication, some Montanans may have voted for the Republican precisely because he had “body-slammed” a reporter. That is how much the media are disliked."

May 26, 2017 - 2:55pm


May 26, 2017 - 3:32pm


A gold backed crypto currency starts tomorrow!

Check out OneGram.

And GoldGuard

and here is another one

Based upon what Jim said, you better sell your Bitcoins before they become worthless.

ps that's not financial advice


and another one

May 26, 2017 - 4:35pm

Golden Jackass

Best interview yet. Gonna relisten with atlas nearby... fascinating , yet terrifying. Gonna polish some silver , stack, and make room for more.

Happy vacation Turd et al.

Dr. P. Metals
May 26, 2017 - 4:41pm

Now what could possibly go wrong with this

lol...I give it 1 day of use before they throw it in the trash. Hopefully it can't read the passengers thoughts also.some things are best left unknown.

May 26, 2017 - 4:50pm

Gold-Backed Crypto Currencies

This seems like an area ripe for fraud. For one thing, the digital currencies thus created, are tied to the price of gold -- directly. I don't see how they can achieve a "value" (price?) greater than the underlying value of the gold. Sure, people might be willing to pay a "premium" for the convenience and security of using them, rather than holding physical, but that's about it. If their value does rise [substantially] above the price of the underlying gold, then they're just another fractional reserve iteration.

With bitcoin, the price (at least in theory) is a function of supply (relatively fixed, or at least controlled) vs. demand (growing, as economies signal collapse and debt becomes unsustainable). It should have an increasing following, as it cannot be increased [in quantity] ad infinitum, like the fiat currencies we now rely on. That alone is reason enough to consider adoption. As usage and acceptance grows, it becomes even more desirable (valuable), given its portability, security, and low cost of conversion (back to fiat).

Personally, I would prefer physical gold to gold-backed crypto currency until such time as the price (of the gold-backed crypto currency) is as stable as the gold price. Then, the convenience of use might sway me to consider it . . .

May 26, 2017 - 4:51pm


still waiting to catch this baby boy of mine....

May 26, 2017 - 4:53pm


Straighten me out here... a gramm gold back crypto coin would have to be worth one gramm of gold ... so if that is true... think I would rather just hold the gold. But I guess you could buy and sell it it for a fee... idk the advantage.

Bitcoin is "anti-fiat" and represents a protection against the fall of the fiats...? Different

Seems like one is a "currency" while bitcoin is a "store of value"... n'pas?

May 26, 2017 - 5:21pm


Driving to Dallas?

#keepstacking #networking

Angry Chef
May 26, 2017 - 5:39pm

Let Me Get This Straight

Didn't Congress pass a Bill saying that American citizens can sue Saudi Arabia for the death of loved one's during the attacks of 9-11 ? I know we live in an upside down World where nothing makes sense but selling them billions of dollars in weapons and at the same time allowing US citizens to sue the the House of Saud just seems a tad over the top. Am I missing something here ?

Or more correctly. Who the hell is running the show ?

Fred Hayek
May 26, 2017 - 5:47pm

Holy crap, I just saw a guy speak for gold on CNBC

It happened at 5:40 p.m. eastern time. The guy even showed how it had kicked the ass of the S&P since 2000 or 2008. And the other toadies didn't chime in with derision. One game player suggested a complex way to play games with GLD.

I haven't watched more than 15 seconds cnbc at a time for months. Can anyone tell me, is a fairly sober, honest advocacy for gold a completely new thing for CNBC?

May 26, 2017 - 7:05pm

Evidence on Gold Price Manipulation is very Clear – Time to Buy

  • May 26, 2017 |

Evidence on Gold Price Manipulation is very Clear - 
Time to Buy is NOW

Enough Evidence that Gold Price Manipulation is going on

Is there gold price manipulation going on? Absolutely. There’s no question about it. That’s not just an opinion.

There is statistical evidence piling up to make the case, in addition to anecdotal evidence and forensic evidence. The evidence is very clear, in fact.

I’ve spoken to members of Congress. I’ve spoken to people in the intelligence community, in the defense community, very senior people at the IMF. I don’t believe in making strong claims without strong evidence, and the evidence is all there.

I spoke to a PhD statistician who works for one of the biggest hedge funds in the world. I can’t mention the fund’s name but it’s a household name. You’ve probably heard of it. He looked at COMEX (the primary market for gold) opening prices and COMEX closing prices for a 10-year period. He was dumbfounded.

He said it was is the most blatant case of manipulation he’d ever seen. He said if you went into the aftermarket, bought after the close and sold before the opening every day, you would make risk-free profits.

He said statistically that’s impossible unless there’s manipulation occurring.

I also spoke to Professor Rosa Abrantes-Metz at the New York University Stern School of Business. She is the leading expert on globe price manipulation. She actually testifies in gold price manipulation cases that are going on.

She wrote a report reaching the same conclusions. It’s not just an opinion, it’s not just a deep, dark conspiracy theory. Here’s a PhD statistician and a prominent market expert lawyer, expert witness in litigation qualified by the courts, who independently reached the same conclusion.

Now, where is the manipulation coming from?

There are a number of suspects but you need look no further than China.

China wants to do what the U.S. has done, which is to remain on a paper currency standard but make that currency important enough in world finance and trade to give China leverage over the behavior of other countries.

The best way to do that is to increase its voting power at the IMF and have the yuan included in the IMF basket for determining the value of the special drawing right (SDR).

China accomplished that last September when the IMF added the yuan to its basket of currencies.

The rules of the game also say you need a lot of gold to play, but you don’t recognize the gold or discuss it publicly. Above all, you do not treat gold as money, even though gold has always been money.

The members of the club keep their gold handy just in case, but otherwise, they publicly disparage it and pretend it has no role in the international monetary system. China is expected to do the same.

Right now, China officially does not have enough gold to have a "seat at the table" with other world leaders. Think of global politics as a game of Texas Hold’em.

What do want in a poker game? You want a big pile of chips.

Gold serves as political chips on the world’s financial stage. It doesn’t mean that you automatically have a gold standard, but that the gold you have will give you a voice among major national players sitting at the table.

For example, Russia has one-eighth the gold of the United States. It sounds like they’re a small gold power — but their economy’s only one-eighth as big. So, they have about the right amount of gold for the size of their economy. And Russia has ramped up its gold purchases recently.

The U.S. gold reserve at the market rate is under 3% of GDP. That number varies because the price of gold varies. For Russia, it’s about the same. For Europe, it’s even higher — over 4%.

In China, that number has been about 0.7% officially. Unofficially, if you give them credit for having, let’s say, 4,000 tons, it raises them up to the U.S. and Russian level. But they want to actually get higher than that because their economy is still growing, even if it’s at a much lower rate than before.

Here’s the problem: If you took the lid off of gold, ended the gold price manipulation and let gold find its level, China would be left in the dust. It wouldn’t have enough gold relative to the other countries, and because the price of gold would be skyrocketing, they could never acquire it fast enough. They could never catch up. All the other countries would be on the bus while the Chinese would be off.

When you have this reset, and when everyone sits down around the table, China’s the second largest economy in the world. They have to be on the bus. That’s why the global effort has been to keep the lid on the price of gold through manipulation. I tell people, if I were running the manipulation, I’d be embarrassed because it’s so obvious at this point.

The gold price is being suppressed until China gets the gold that they need. Once China gets the right amount of gold, then the cap on gold price can come off. At that point, it doesn’t matter where the gold price goes because all the major countries will be in the same boat. As of right now, however, they’re not, so China has though to catch-up.

I’ve described some catastrophic scenarios where the world switches to SDRs or goes to a gold scenario, but at least for the time being, the U.S. would like to maintain a dollar standard. Meanwhile, China feels extremely vulnerable to the dollar. If we devalue the dollar, that’s an enormous loss to them.

China has recently sold a portion of its dollar reserves to prop up its own currency, which has come under tremendous pressure. But it still holds a large store of dollar reserves.

If China has all paper and no gold, and we inflate the paper, they lose. But if they have a mix of paper and gold, and we inflate the paper, they’ll make it up on the gold. So they have to get to that hedged position.

China has been saying, in effect, "We’re not comfortable holding all these dollars unless we can have gold. But if we are transparent about the gold acquisition, the price will go up too quickly. So we need the western powers to keep the lid on the price and help us get the gold, until we reach a hedged position. At that point, maybe we’ll still have a stable dollar."

The point is that is that there is so much instability in the system with derivatives and leverage that we’re not going to get from here to there. We’re not going to have a happy ending. The system’s going to collapse before we get from here to there. At that point, it’s going to be a mad scramble to get gold.

The gold price will go significantly higher in the years ahead. But contrary to what you read in the blogs, gold price won’t go higher because China is confronting the U.S. or launching a gold-backed currency.

The gold price will go higher when all central banks, China’s and the U.S.’ included, confront the next global liquidity crisis, worse than the one in 2008, and individual citizens stampede into gold to preserve wealth in a world that has lost confidence in all central banks.

When that happens, physical gold may not be available at all. The time to build your personal gold reserve is now.

We need to mention Russia here too. Russia is also amassing gold. And since Russia and China aspire to be true gold powers, it’s not enough to have physical gold. It’s also critical to create gold exchanges and gold markets for price discovery and trading.

Currently the gold price is set in two places. One is the London spot market, controlled by six big banks including Goldman Sachs and JPMorgan. The other is the New York gold futures market controlled by COMEX, which is governed by its big clearing members, also including major western banks.

In effect, the big western banks have a monopoly on gold prices even if they do not have a monopoly on physical gold. But that could be about to change.

Russia and China are not only building up physical reserves and exploring for more, they are building trading systems that allow for price discovery and leveraged trading in gold.

It may take a year or so to attract liquidity, but once these new exchanges are fully functional, the physical gold market will regain the upper hand as a price maker.

Then gold will commence its march to monetary status, and its implied non-deflationary price of $10,000 per ounce.

The time to buy is now, before that happens. – Jim Rickards

May 26, 2017 - 7:23pm

ding ding!

Winner, winner! Chicken dinner!!

Dr. P. Metals
May 26, 2017 - 8:17pm

Re: Evidence

what a crock of...

"Russia has one-eighth the gold of the United States", Russia also has 0 tons then? 1/8th of 0 is still 0.

stopped reading that entire load of crap right there.

May 26, 2017 - 8:19pm

I see trouble brewing:

I pondered about writing a long post, on the many areas that we are heading into, being a major conflict. The things seen on the campus life, the politics, the insanity of the snow flakes, the blindness of false religions, the banksters and even the medical field. Then, I decided it was just too much typing.

There are times when someone just posts a picture and lets the viewer write the post, so here it is and when the silent ones are pushed much more, this will be the outcome:

Raiders of the Lost Ark - Why Guns Are Better Than Swords


There are some basic things to do and to understand that will shield many from involvement. Keep me out of the crowd. Jim

SamSchlepps Angry Chef
May 26, 2017 - 8:23pm

@ Angry

guess its like the gov't giving somebody 10K, but make them go the the middle east and get it in terms of oil or other ill-gotten gains after the SA's use the weapons. It's long term and deep thinking wink

May 26, 2017 - 8:49pm

Jim Rickards

why not say silver is the best metal ever??

at least he and Schiff should speak truth...

psyop continues to rob you of your desire for silver and prevent you from escaping the apocolypse...

energy bankruptcy... aka inability to pull forward future energy to pass around today... aka loss of credit...

CME Group's Commodities Exchange is a closed loop... can anyone prove that wrong?

i have mathematical evidence indicating a closed loop, and your traumatic experiences to backup my position...

where do you stand? who do you work for?

May 26, 2017 - 8:51pm

Re: Evidence

@ Dr. P. Metals know there has to be a semi - official explanation for the GC paper ponzi scheme. When it becomes impossible to convince the physical producers to let their product go at a certain price, they will now know who to blame.

Some will blame Trump.wink

May 26, 2017 - 8:55pm

Thanks Craig!

For making the Jackass post PUBLIC from the get go!

Happy long weekend to our southern neighbours! Even though your spell checker might question neighbours, it's spelt the write weigh. ;O)


May 26, 2017 - 9:24pm


what planet do you live on?

all the producers want debt digits for their effort.

Yea, even all those junior miners from Vancouver... that Sprott helped fund.. they all want MOAR DEBT DIGITS.

people like to claim "i'm not of this world" (because it's luciferian run)... yet they give ALL their energy to the debt complex and expect happiness to result...

Joseph Warren Fred Hayek
May 26, 2017 - 9:39pm

Re: CNBC guy speaking for gold . . .

and there was no long hook that grabbed him in mid-sentence and pulled him instantly off screen like in a cartoon ? surprise

May 26, 2017 - 10:28pm
Become a gold member and subscribe to Turd's Vault


Donate Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

The TFMR Silver Round
Key Economic Events Week of 2/11

2/12 12:45 ET GCP speaks
2/13 8:30 ET CPI and three Goon speeches
2/14 8:30 ET Retail Sales (December)
2/14 8:30 ET PPI
2/15 8:30 ET Import Price Index
2/15 9:15 ET Cap. Util. & Ind. Prod.

Key Economic Events Week of 2/4

2/5 8:30 ET Trade Balance
2/5 9:45 ET Service PMIs
2/5 9:00 pm ET Trump SOTU
2/6 8:30 ET Productivity and Unit Labor Costs
2/6 7:00 pm ET CGP speech
2/7 9:30 ET Goon Clarida speech
2/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 1/28

1/29 10:00 ET Consumer Confidence
1/30 8:30 ET Q4 GDP first guess
1/30 2:00 ET FOMC fedlines
1/30 2:30 ET CGP presser
1/31 8:30 ET Personal Inc, Cons. Spending and Core Inflation
1/31 9:45 ET Chicago PMI
2/1 8:30 ET BLSBS
2/1 9:45 ET Markit Manu PMI
2/1 10:00 ET ISM Manu Index
2/1 10:00 ET Construction Spending

Recent Comments

by Marcus, 8 min 7 sec ago
by Dorothy, 40 min 4 sec ago
by jack3617, 52 min 11 sec ago
by Dorothy, 56 min 55 sec ago
by Silver_Surfer, 1 hour 5 sec ago