A2A with Chris Martenson

59

A tremendous webinar today with Chris Martenson of PeakProsperity.com. Though we had to fight through some audio issues, the information and perspective that Chris shared with everyone is invaluable and demands your attention.

Among the topics addressed today:

  • The Central Bank kabuki theater and the level to which The Bankers are now involved in nearly every market.
  • What Chris learned during his recent stay in Buenos Aires
  • The future of the US dollar, not only in energy transactions but as the world's reserve currency
  • How and why HFT algos now control the "markets"
  • Chris' essential list for preparing for what's ahead
  • And a whole lot more!

Big thanks again to Chris for being so generous with his time today. Our apologies on this end for the audio difficulties which required some editing to the recording.

Thanks for listening,

TF

  59 Comments

abguy4
Jul 20, 2017 - 1:24pm
SteveW
Jul 20, 2017 - 1:26pm

True Gold

Now to listen

Well, silver anyway; not too shabby but shiny, shiny.

AGXIIK
Jul 20, 2017 - 1:26pm

bronze

Toid

RickshawETF
Jul 20, 2017 - 1:39pm

Furth?

Furth?

cstacey
Jul 20, 2017 - 3:01pm

Great interview

Would have loved to hear him expand on his responses to the last 2 questions of the final 4

Wizdum
Jul 20, 2017 - 3:24pm
Jul 20, 2017 - 4:08pm
JQuest
Jul 20, 2017 - 5:12pm
RickshawETF
Jul 20, 2017 - 5:36pm

Tales of the Cocktail: The Margarita - A Digression

Before we wrap up the Margarita, we should talk about tequila’s “parent” – Mezcal. All Tequilas are Mezcals, but all Mezcals are not Tequila. Tequila is a specialized form of Mezcal, that differs in three important aspects:

  1. It is grown in only three regions of Mexico (Mezcal is produced in 9 regions)
  2. It is made only from blue Weber agave (Mezcal is produced from more than 30 varieties)
  3. It is steamed to soften the piña before fermentation (Mezcal is “baked”)

Mezcal is made from wild agave plants, growing out in the Mexican landscape – not cultivated on extensive agave farms (like Tequila’s Blue Weber Agave). As with all things wild, there is a different flavor to the mezcal agave. Not necessarily better, but different. The real difference in flavor comes from the method of preparing the piña. Agave is harvested at approx. 8-10 years of age, by removing the entire plant from the ground, hacking off all the leaves with a machete, and leaving the core of the plant, called the “piña”. It looks sort of like a giant pineapple, hence the name.

Up to this point, Mezcal is no different than Tequila (although incorporating more types of agave), but here the process differentiates the end product. For Tequila, the piñas are quartered and packed into a warehouse-type room (sort of like a giant sauna), then steamed to break down the piñas and bring up the sugars in preparation for fermentation and distillation. With Mezcal, the piñas are buried under ground, with charcoal and burning wood, which imparts a decidedly smoky character to the end product. It’s kind of like drinking a very peaty Scotch – it’s definitely agave spirits, but “wilder”.

Once the piñas are cooked, fermentation converts the sugars into alcohol, and distillation purifies the spirits, removing unwanted particles and flavors. Now the finished Tequila enters the aging process, which determines whether it will be “Blanco”, “Gold”, “Reposado”, or “Añejo”.

Silver or Blanco Tequilas are clear, with no more than 60 days in stainless steel tanks. They can be either 100% agave, or mixto. Silver Tequilas are used primarily for mixing, and blend particularly well into fruit-based drinks.

Gold Tequila is unaged silver Tequila that has been colored and flavored with caramel. It is usually a mixto.

Reposado (“rested”) Tequila is aged in wooden tanks or casks for a legal minimum period of at least two months, with the better-quality brands spending three to nine months in wood. It can be either 100% agave, or mixto. Reposado Tequilas are the best-selling Tequilas in Mexico.

Añejo (“old”) Tequila is aged in wooden barrels (usually old Bourbon barrels) for a minimum of 12 months. The best-quality añejos are aged 18 months to three years for mixtos, and up to four years for 100% agaves.

Mezcal does not enjoy the same differentiation as does Tequila. Mezcal is basically a blended spirit, with two distinctly higher classifications: “Single Village” and “Pechuga”. Whereas a blended Mezcal might sell for $30 to $50 per bottle, a “Single Village” designation probably sells for $75 to $100 per bottle. What you are getting is a more distinctive and unique product, with greater complexity and “terroir” (the French term for a sense of “place”, or origin).

That leaves the “pinnacle” of Mezcal production – “Pechuga”. A bottle of “Pechuga” will probably set you back around $50 to $250. When I first read about “Pechuga”, I couldn’t believe it. Neither could the author of the article, who was beyond skeptical – until he tasted it! “Pechuga” means “breast” in Spanish, and that is the secret to “Pechuga” Mezcal. How that first creator figured this one out is beyond me, but how did anybody figure out coffee? (Take these ripe red beans, strip out the green seeds, dry them, roast them, grind them up, drip hot water through the grind, and enjoy!)

So the brilliant “inventor” of “Pechuga” designed his still in such a way (maybe it was already that way) that as the vapors rose to the top of the still, they condensed at a singular point, and dripped straight down from that point. Below the point from where the condensate dripped, the “inventor” suspended a raw chicken breast in the middle of the still, so all of the condensed alcohol dripped onto the chicken breast, and then into a collection vessel below the chicken breast.

No, I’ve never had “Pechuga”. (In fact, I’ve seen fewer than a half dozen bottles of the stuff in all my liquor store forays.) The author of the article describing this method swore that the Mezcal produced in this manner had lost all of its coarseness and rough edges. It still had character, and way more complexity, but some of the beast had been tamed, and the end product was much more refined – in a good way. He was blown away by the transformation.

[Note to self: When silver “moonshots”, buy a bottle of “Pechuga” and see what all the hype is about . . .]

[Note to readers: This whole “worm thing” with Mezcal is a joke, a scam, and a fraud! (Where have we heard that before?) The “worm thing” is used in the cheapest and most vile of Mezcals - it is solely a marketing ploy to get you to buy a product which, without the worm, would have no appeal whatsoever. End of story.]

Tomorrow is Friday, and I don’t know about you, but TGIF just calls out for a “perfect” Margarita. I’ll put my “recipe” out there in plenty of time for you to prepare a tasty libation to toast TEOTGKE – assuming “TE” doesn’t come before then . . .

abundance
Jul 20, 2017 - 6:01pm

Farrell wondering are the banks trading during 'down' times

to cover up for devirative problems

Dr Joseph Farrell 7/20

NEWS AND VIEWS FROM THE NEFARIUM JULY 20 2017
Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Key Economic Events Week of 11/4

11/4 10:00 ET Factory Orders
11/5 9:45 ET Markit Services PMI
11/5 10:00 ET ISM Services PMI
11/6 8:30 ET Productivity & Labor Costs
11/6 Speeches by Goons Williams, Harker and Evans
11/8 10:00 ET Consumer Sentiment
11/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 10/28

10/30 8:30 ET Q3 GDP first guess
10/30 2:00 ET FOMC fedlines
10/30 2:30 ET CGP presser
10/31 8:30 ET Personal Income & Spending
10/31 8:30 ET Core Inflation
10/31 9:45 ET Chicago PMI
11/1 8:30 ET BLSBS
11/1 9:45 ET Markit Manu PMI
1/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Recent Comments

by Blackwatersailor, Nov 13, 2019 - 11:19pm
by Turd Ferguson, Nov 13, 2019 - 11:03pm
by NW VIEW, Nov 13, 2019 - 10:55pm
by Turd Ferguson, Nov 13, 2019 - 10:45pm
by kkingchiro, Nov 13, 2019 - 8:39pm

Forum Discussion

by Green Lantern, Nov 13, 2019 - 5:36pm
by NW VIEW, Nov 13, 2019 - 5:11pm
by Green Lantern, Nov 13, 2019 - 5:08pm
by CongAu, Nov 13, 2019 - 9:39am
by UncleFester, Nov 13, 2019 - 9:21am
by Green Lantern, Nov 13, 2019 - 6:58am