A Labor Of Love With The Golden Jackass

268

Well, here we are...the unofficial end of summer. It's Labor Day weekend here in the U.S. which means we are in the midst of a 3-day weekend. And you know what that means here at TFMR! Fresh Jackass for everyone!

When Jim and I recorded this back on Thursday, time was somewhat short. So, with this constraint in mind, I asked Jim to focus on two, primary topics:

  1. Since we last spoke in July, what changes have occurred in the world of US dollar hegemony? Is the China-Russia-Saudi connection accelerating the demise of the petrodollar system?
  2. The current US debt and political situation and how this will increasingly impact global markets as traders return en masse on Tuesday.

Just two topics yet over an hour of audio? Yep, that's how it works and you're just going to have to listen to the entire thing if you want to unearth all the nuggets of knowledge that The Jackass has left behind for you.

Enjoy and have a great weekend!

TF

  268 Comments

jchantel
Sep 1, 2017 - 12:41pm

Silver ... my favorite!

Hoping this run is not another wash / rinse / repeat cycle.

Sep 1, 2017 - 12:43pm

Latest GFS

At a central pressure of 905 mbs, Irma would be a serious Cat5 storm.

My local weather guy believes this track is too far north, too, as the high pressure above it should be stronger than predicted.

This is the forecast position by NEXT Saturday:

Mr. Fix
Sep 1, 2017 - 12:55pm

1st... Happy labor day weekend to each and everyone of you

Take the time this weekend, to consider how through the fruits of your labor, you create products, or perform services that others voluntarily pay for.

It is the essence of civil society, where everyone plays their part, making life better for everyone.

The powers that be only provide us with disaster capitalism, creating needs that would otherwise not exist without them. These are not the people whom you should be contributing to. People helping other people makes a real difference.

People contributing to government, or hoping that someday, they will get their shit together, and actually be a force for good, are living in a fantasy land. Absolute power corrupts absolutely, and this is clearly demonstrated by every level of those with whom we give our authority too.

If you know someone having some rough times, do what you can to make their lives better.

That's when your labor really counts.

Sep 1, 2017 - 12:58pm

ALL VISITORS

PLEASE BE SURE TO READ THIS FREE POST FROM EARLIER THIS WEEK:

https://www.tfmetalsreport.com/blog/8530/total-g-3-central-bank-control

Doing so may help you to understand the siginificance of these charts from today:

puro oro
Sep 1, 2017 - 12:58pm

Like a

kid on Christmas Eve......college football is H E R E! Everyone have a safe weekend.

Peace be with you.

4 oz
Sep 1, 2017 - 1:14pm

Jim Willie

R O C K S~~~~~~

Sep 1, 2017 - 1:28pm

Holy Moly!

Watch this video:

Sep 1, 2017 - 1:29pm
Maestro
Sep 1, 2017 - 1:38pm

Repost - I'm a Whore for Hat Tips

Agreed. This has been an epic week for Gold as far as I am concerned.

For the investors here.....

Another metric I am using regarding gold stocks...is to look at the production outside of gold, such as copper, zinc, silver, lead. Many gold companies should actually be called copper producers, who have significant gold production as a side. The market generally overlooks this metric at the beginning of a bull market in metals.

As companies apply these "by-products" of production to their all in cost basis, and as the price of base metals rises, the cost of gold production drops.

Looking at the majors, Agnico Eagle (AEM), and Gold Corp (G), and intermediate Kirkland Lake (KL)...they really should be valued through these "copper coloured" glasses. At $3.10 copper, record zinc, etc...your going to see their bottom lines really improve regardless of the price of Gold. Now, with Gold at $1325.00 +.....well that's just icing on the cake!

Base metals are rising as a continuing sign of weakness in the U.S. dollar, and a lack of confidence in the U.S. period. Remember, defaults are not an economic event, but a physcological event. Trump?.......keep up the good work buddy.

Gold Corp is currently trading below NAV and is a Strong Buy at these levels. I love spending a $1 for $1.25 in net asset value. In a world that will increasingly be hungry for copper.....why would I bother buying Freeport when I can get better copper value in Gold Corp, plus the added kick of gold production?

Large institutional money will flood into the majors such as G, AEM, adn KL, especially since they primarily mine in stable, miner friendly durisdictions.....Canada.

and always remember....its not market timing, its time in the market. Buy long, stay strong.

boomer sooner
Sep 1, 2017 - 1:55pm

Puro

Agree! College football rocks. I even caught a little taste last weekend.

Our high school kicked off against the cross town rival last night. 43/43 with 4 minutes to go they punt to us and trap us on the 5 yard line. Next play coach dials up a go route. 95 yards later in one play we take the lead (bomb to one of the Stoops twins). Missed extra point. 49/43

We kick off with under 4 to go and they run the ball back to their 45. Then they're on our 40. Defense gets a rush on the QB. While the QB is falling down, he throws a dart to a RB near the line, a fill in D lineman steps in front, catchs the ball and rumbles to their 20. We run the clock out, whew.

Both defenses are BAD, but the offenses can definitely through the tater round the yard. Even our RB had 100 yard game.

Metals are up, yes and nay. Visiting the LCS later, wouldn't mind a flash crash in about an hour!

BTW, my youngest has been mowing the yard all summer and I gave him an option for payment. $200 fiat, 13 silver rounds or a 1912 Rooster BU. He still hasn't made up his mind, but eyeing the rooster pretty hard. He wants a truck for his 16th (4 months) and he thinks cash would be good, but I told him I'd buy whatever back at spot when he wants to sell. We shall see.

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

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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.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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