A2A with Alasdair Macleod of GoldMoney

42

What a terrific and timely Q&A session we had Wednesday with Alasdair Macleod. Very informative and a must listen for everyone.

Among the topics Alasdair addresses:

  • The significance of the UK elections on Thursday.
  • Next week's FOMC meeting and possible Fed Funds rate hike.
  • Physical demand for gold from China and India.
  • The stability of the EU and the entire EU banking system.
  • Will China soon spark a global, commodity-based inflation?
  • Sharia-compliant gold and the new "Onegram" digital currency.
  • And much, much more!

Again, this is a very informative podcast so I strongly urge you to give it a thorough listen. Thanks again to Alasdair for such a generous donation of his time!

TF

Does Feb19 Comex gold close above $1250 on Friday?
YES
77%
NO
23%
Total votes: 181

  42 Comments

· Jun 8, 2017 - 2:33pm
Winder · Jun 8, 2017 - 2:56pm

2

or 1 without a Turd.

Orange · Jun 8, 2017 - 3:00pm
Chancey · Jun 8, 2017 - 3:06pm

4th

brolgaboy · Jun 8, 2017 - 3:18pm

what a full fledged bubble looks like

NVDA up 50% in past 30 days.

what the heck, graphic cards for autonomous cars.

I think not

ok, I just bought some long dated puts

not sustainable

out

Dr. P. Metals · Jun 8, 2017 - 3:18pm

@Chancey

yes lol!

Dr. P. Metals · Jun 8, 2017 - 3:19pm

@brolga

the cards are in demand for crypto mining, not cars

brolgaboy · Jun 8, 2017 - 3:22pm

not out....

one more thing (steve jobs)

my daughter's piano teacher just quit.

going to rent out her house for 10 grand a month (yes canada housing bubble)

to join her husband who moved to california in january to work for.....yes NVDA!

she did not like the living apart.

wonder when they will be back

ok, now out

Markedtofuture · Jun 8, 2017 - 3:25pm

“THE BOYS” AND THEIR DUMPING OF GOLD TODAY

Gold is moving down today on the back of another dump of paper gold by “the boys”. Rick shares his technical outlook for the precious metal and it is bullish.

https://www.kereport.com/2017/06/08/boys-dumping-gold-today/

Markedtofuture · Jun 8, 2017 - 4:22pm

As Expected – Comey Tries Hard to Take Down Trump

Admits He is Leaker

Posted Jun 8, 2017 by Martin Armstrong

James Comey that he orchestrated the leak of his conversations with President Donald Trump claiming he thought it might lead to the appointment of a special prosecutor to head the Russia investigation. Comey said he had asked a friend at Columbia University to leak the content of one of his memos. Comey testified: “My judgment was that I needed to get that out into the public square.”

Arkansas Republican Senator Tom Cotton asked Comey whether he believed that Trump had colluded with the Russians. Comey then responded: “It is a question I don’t think I should answer in an open setting.” He said that the question would be answered by special counsel Robert Mueller’s investigation.

Comey also testified claiming that the Trump administration “chose to defame me,” and that they told “lies, plain and simple” and that he was “confused” by Trump saying he was fired due to the Russia probe. “The administration chose to defame me and, more importantly, the FBI by saying the organization was in disarray … those were lies.”

Yet, to stop short of obstruction of justice, Comey then also said that he did not believe that either Trump nor his staff had asked him to stop the Russia investigation. Comey testified that the “shifting explanations” from the White House for why Trump fired him last month “confused” and increasingly concerned him.

Comey further revealed new details about his meeting with Trump during the transition when he briefed the President-elect on details of a salacious dossier drawn up by a former British spy. Comey said he didn’t want to create a “J. Edgar Hoover type situation” in which Trump concluded the bureau was trying to hold something over him. Hoover was famous for investigating people and creating a FBI dossier to blackmail politicians and presidents included.

Since the 1970s, FBI directors have tried to maintain a discrete distance from the president because of J. Edgar Hoover’s abused of the FBI. This unwritten rule grew out of reforms that followed the often questionable behavior of J. Edgar Hoover, who served from 1935 to 1972. Hoover’s relationships with six different presidents often became dangerously close to trying to rule the country covertly. Yet Comey has opening asked for a Special Prosecutor doing much the same thing for this is how to at least prevent Trump for pushing forward any reform agenda.

FBI today has authority only for investigating violations of federal law, pursuing counter-terrorism cases and disrupting the work of foreign intelligence operatives. Anything beyond these raises serious constitutional jurisdictional questions. When John F. Kennedy became president in 1961 and his brother Robert Kennedy was made attorney general, Hoover could not ignore the attorney general as he had been doing. Hoover stopped passing on intelligence reports to JFK. He disagreed with the Kennedys and their policies, so Hoover began investigating not crimes, but people and their personal lives for blackmail. Hoover was collecting information on JFK’s extramarital affairs. Then in 1964, Hoover’s FBI investigated Jack Valenti, a special assistant and confidant of President Lyndon Johnson. Despite Valenti’s two-year marriage to Johnson’s personal secretary, the investigation focused on rumors that he was having a gay relationship with a commercial photographer friend.

This is what Comey meant about the dossier drawn up by a former British spy. He said he briefed Trump because he didn’t want to create a “J. Edgar Hoover type situation” since it was the same thing – diving into personal affairs. He said he was intent upon leaving the impression with Trump that the FBI was not investigating him despite the fact that the Democrats hire this British Spy to do what Hoover had done.

Comey said Trump’s comments that the FBI was in disarray and that it was poorly led and had lost confidence in his leadership, were “lies, plain and simple, and I am so sorry that the FBI workforce had to hear them, and I am so sorry that the American people were told them.” But if people lost confidence in the FBI after the Hillary email investigation within the FBI, they would not have told him. What Comey failed to consider is that a lot of people did lose confidence in his investigation. His words calling them lies are just opinion solely from his perspective. There were many on Capitol Hill on both sides of the political spectrum who expressed that opinion that Comey was out of control.

Comey then did his best to disparage Trump saying from the moment he met the President-elect during the transition, he decided to create a written record of their meetings. He said: “I was honestly concerned that he might lie about the nature of our meeting.” He then said that he knew that one day he might need a written record of their conversations to defend himself and the FBI. This was a very clairvoyant moment that seems disingenuous to say the least. To defend the FBI? Reading between the lines it seems to be confirming the position of the Gang of Four, in the intelligence community of which Comey was a member, all had an anti-Trump agenda. Reuters reported on November 19th, 2016 that Carter and Clapper demanded Obama fire Michael Rogers. Rogers didn’t want to participate in the Obama spying scheme led by Clapper. All the information warned that there was indeed a soft-coup against Trump that was organized by Obama and that Clapper was deeply involved. Comey was part of the Gang of Four. I go into this is detail in the Impeachment Report on Donald Trump.

Leaking information is a crime. Nonetheless, Comey said that he believed it was his right to publicize the details of what he viewed were unclassified recollections of his conversation with Trump in his role as a private citizen. He makes the distinction saying his leaks were AFTER he was fired. He then said he asked his friend to take the action rather than doing it himself because the press was camped outside his house and it would have been like feeding “seagulls at the beach.” He said he gave all of his memos to Mueller.

Comey said that he took the President’s expression of “hope” that he could ease off of Flynn as a directive. Previously, he testified that the DOJ will often express its “opinion” but that is not a directive. He seems to be trying to lay a vague enough foundation for a Trump Impeachment. Comey clearly wanted to help paralyze the nation and stop the Trump agenda of any reform be keeping this saga of Russian election hacking and alleged collusion by Trump aides in play to cast a very dark cloud over the new administration. He knows very well what he is doing and it’s all about stopping any reform process.

Democrats will highlight the stunning revelation of Comey’s testimony, that his statement that Trump asked him to halt the FBI probe into Flynn’s conversations during the transition with Russia’s ambassador to Washington. Trump’s words are by no means a directive: “‘I hope you can see your way clear to letting this go, to letting Flynn go. He is a good guy. I hope you can let this go.”
“I replied only that ‘he is a good guy.'” Comey wrote, then added: “I did not say I would ‘let this go.'”

So now we will have attempts to impeach that are not likely to actually force Trump to leave office. The agenda here seems to be to prevent any of his promises of reform taking place. This appears to be the McCain agenda as well.

https://www.armstrongeconomics.com/international-news/politics/as-expect...

Ozymandias · Jun 8, 2017 - 4:42pm

The Audubon Society recently spotted

Black Swans circling over Qatar.

Keep Stacking!!

canary · Jun 8, 2017 - 5:31pm

David Rosenberd (I respect his analysis)...

1. doesn't see price inflation

2. equity market has a way to go higher.

Interview is is short and interesting:

https://www.zerohedge.com/news/2017-06-08/david-rosenberg-most-profound-...

Nils Falk · Jun 8, 2017 - 5:33pm

Craig, Thank you for the

Craig, Thank you for the discussion with Rory Hall at Daily Coin.

It clarified many of my conundrums about Dollar/yen visavi gold.

It really assured me about your seriousness concerning correlation/causation business.

Above all, I think I better understand the deeper cause and means of it all.

I also am grateful to hear about your perspectives. I now await next 6 or 12 months with positive spirits.

Actually, it amazes me how you can grasp "things" both short and long term,

Keep on your great work.

Ronnie 666 · Jun 8, 2017 - 5:58pm
AGXIIK · Jun 8, 2017 - 6:55pm

WHAT'S THE DIFFERENCE BETWEEN COMEY AND COMEX?

Nothing

Both puke up 40 tons of bullscheisse and EL Zippo

Gold gets doinked $18? Is that all they got? Pathetic Gold recovers $9

Comey

A leaker

A peaker

A midnight sneaker

We've just seen the EROI of Comey go to zero. Peak Comey and now the long slide to irrelevance.

· Jun 8, 2017 - 6:57pm

fwiw = not much

The sham GLD added another 2.07 mts of "inventory" today.

New high total for 2017 at 867.00 mts

JQuest · Jun 8, 2017 - 8:10pm

Trump's Lawyer

Video unavailable
benque · Jun 8, 2017 - 8:21pm

Comey

A sneaky leaker you say? Strap him to your thigh and stick a tube in his gob when yer goin to a beer-splash at the ball park?

JQuest · Jun 8, 2017 - 8:53pm

Many Banco Popular investors wiped out

Spain’s Ministry of the Economy revealed that by 3 pm Tuesday, Popular was no longer able to contain the deposit outflow. “It had exhausted all its lines of liquidity, both ordinary and extraordinary.” It had run out of collateral to cover any further lines of emergency liquidity.

This apparently triggered the intervention by the ECB’s Single Resolution Board (SRB), which decided on Tuesday that the bank “was failing or likely to fail” and would have to be wound down, unless a buyer could be found.

Banco Popular’s shareholders, who’d been repeatedly suckered into handing Popular fresh funds in numerous capital expansions, will be wiped out.

https://wolfstreet.com/2017/06/07/bail-in-era-for-europe-banking-crisis-...

canary · Jun 8, 2017 - 9:13pm

Alasdair Macleod on inflation...

In his last interview a few months ago he said that the Fed was almost incompetent for not seeing inflation signals. Today he talks about commodity based inflation. He seems to be definitely in the inflation camp. ....I'm not so sure. What if they print, print and print, and there's NO inflation...What if we all turn Japanese?

By inflation I don't mean inflated stock market.

Markedtofuture · Jun 8, 2017 - 9:39pm

NSA Leaker Reality Winner "Wanted To Burn Down The White House"

NSA Leaker Reality Winner "Wanted To Burn Down The White House"

On Thursday afternoon, Reality Winner was indicted by a federal grand jury on a single count. She entered a not-guilty plea before the judge denied bond. Based on evidence seized from her home, federal prosecutors detailed Winner's alleged plans "to burn down the White House" and travel to Afghanistan, pledging her allegiance to the Taliban.

Markedtofuture · Jun 8, 2017 - 9:52pm

Chris Matthews Admits "There's No 'There' There"

The Thrill Is Gone: Chris Matthews Admits "There's No 'There' There" On Trump-Russia 'Collusion'

"I've always assumed that what Trump was afraid of was that he had said something to Flynn and Flynn could be flipped on that and Flynn would testify against the President that he'd had some conversation with Flynn in terms of dealing with the Russians affirmatively. And if that's not the case, where's the there-there?"

Fred Hayek · Jun 8, 2017 - 10:01pm

Am I cruel?

I went flipping through channels. I landed on something called "Million Dollar Listing, New York" or some permutation of those words. As you'd expect, it's about asshole real estate brokers trying to sell overpriced oligarch condos to asshole super rich buyers. 

I was unavoidably led into thinking of an EMP and the complete disruption of food supply to the island of Manhattan. I experienced a moment of zen calm at the prospect of the painful demise of almost everyone having any part in these transactions as buyer, seller or agent. Is it so wrong to want to see them fighting over half eaten wings in a suburban Kentucky Fried Chicken dumpster?

Dirt_Reynolds · Jun 8, 2017 - 10:45pm

EMP's aren't always Binary.

Scale back a bit. Leave a few of these laying around.

https://geekologie.com/2010/12/want-48-cigarette-pack-cell-ph.php In an off state off course. :o

Sit back and enjoy the calm.

Grreat A2A(tm). Always love his view's on China. Thanks

#keepstacking #networking

tyberious · Jun 8, 2017 - 10:48pm

The Federal Reserve basically

The Federal Reserve basically has two paths forward.

It can continue raising interest rates and risk popping the stock market bubble (among other balloons) it has inflated over the last 9 years. Or it can hold rates at the current artificially low rates and risk a currency crisis.

That’s it. That’s the corner the Fed and other world central banks have backed themselves into. They’re stuck between a rock and a hard place.

https://politicalvelcraft.org/2017/06/08/the-foreign-federal-reserve-has...

canary · Jun 8, 2017 - 10:53pm

I do not trust any news media, ZH included...

They're all biased....Just reading their headlights, some have a fat print how bad Comey's testimony was for Trump, and others how damaging it was for democrats.....Sure, none of them is as primitive as the old Soviet Pravda, still far from gaining my respect, with exception of occasional humor.

LP · Jun 8, 2017 - 11:10pm

It's No Wonder Alasdair Doesn't Like Pizza ...

After all, he orders them with anchovies. laugh

AIJ tyberious · Jun 8, 2017 - 11:16pm

Tyberious

How is the Fed stuck? They have control of the world reserve currency in which they can print as much as they like. The game ends when the rest of the world no longer accepts their script, or is afraid of their military.

But, in football parlance, the end around is happening. The decentralized crypto world is saying, " go ahead, play in your court. We have our own"

Henrik · Jun 9, 2017 - 3:36am

Everything is bullish!

Worst possible outcome in UK elections is suddenly bullish for stocks. Stocks which already are at ATH! 

MrOnline · Jun 9, 2017 - 7:10am

What to buy?

Hello my friends and fellow stackers. Price action yesterday made me sad so in order to cure my sadness I must buy some silver. I need your help to decide what to buy.

  • 1 oz Vienna Philharmonic for 19.8$
  • 1 oz Lynx Predator Series with mintage of 500 000 for 21.2$

Should I just go with most silver for the money or are those low mintage coins good investment? 

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