"Nobody Cares, Revisited" with Grant Williams


Fund manager and analyst Grant Williams joins us for an update on his tremendous "Nobody Cares" presentation from late 2015. Additionally, Grant takes some time to discuss the USDJPY-gold link as well as the pending introduction of that yuan-denominated crude oil contract in Shanghai. Be sure to take some time to listen.

If you haven't seen "Nobody Cares", you should be sure to do so now. Though Grant first made this presentation back in December of 2015, the information is still highly relevant today and, with gold prices on the verge of an upside breakout, the implications of a large influx of new cash into the sector must be considered.

We also discuss the issue of "de-dollarization" and the impact the new, yuan-denominated crude oil contract may have on the process. Grant's follow-up presentation of December 2016 dealt with this topic and you can watch it here, too. If you've never seen this video, you simply MUST take time to watch it today. The part that deals with de-dollarization and the potential impact of this new contract begins at about the 19:00 mark.

Again, we are all grateful for Grant's efforts in educating the masses through his presentation, his public appearances and his work at RealVision. We are grateful, too, that he would spare a few minutes to visit with us again here at TFMR. Be sure to listen to this entire podcast. You'll be glad you did.



J Siefert
Jan 11, 2018 - 2:51pm


Och aye the noo!

Jan 11, 2018 - 2:56pm

thanks for re posting

I observe that the reason there tends to be eruptions of anger on this board is because WE do care ! Information like this reminds us why we fight the good fight in our own ways, to protect our families, friends and ultimately society from the financial wrongs that perpetrated against them. Silver66 V

Jan 11, 2018 - 3:14pm



Jan 11, 2018 - 3:32pm

is it just me?

is it just me or is the JNUG volume the lowest it has been for the entire last year.

Jan 11, 2018 - 4:27pm
Ronnie 666
Jan 11, 2018 - 4:30pm

10% - only 10% ?

it is interesting that Grant Williams agrees that gold has been Money for 5000 years and that gold is the place you put money you can’t afford to lose and things look good for gold and we have bottomed and are moving up ........yet you only put 10% of you money in gold. He didn’t say that exactly but used 10% over and over. So the other 90% you put in stocks and bonds and cash. We all agree that bonds and stocks and cash are in a bubble a massive multi year bubble. A bubble by definition is unpredictable - it always pops but timing is impossible. So please explain ?

I have heard this argument before from Rickards that you only need 10% as a market crash will send gold to $5k and you will protect your capital - cover your loses on stocks and bonds. So we spend hours a day listening to people discuss gold and silver to take a defensive 10% position so you can cover losses? Really ?

All markets look pretty unstable right now and I can’t think of a better place to put your cash. No one says put every last cent into gold although I don’t think that is as much of a risk when compared to putting every last cent into stocks. Am I missing something ?

Verus nemo
Jan 11, 2018 - 4:33pm

Thanks for this podcast, Craig!

Grant Williams and Jim Grant are my two favorite analysts in this space. I learn so much from them both every time I read or listen to them; either of them are welcome here anytime as far as I'm concerned.

Thanks again for such a great website-community, Craig.

Jan 11, 2018 - 4:47pm

Now wait just a minute....

...Grant, and Grant. Hmmm....

A couple of General's indeed !

Jan 11, 2018 - 5:01pm

China Quietly Orders Closing of Bitcoin Mining Operations

Updated Jan. 11, 2018 1:29 a.m. ET


BEIJING—Bitcoin can’t catch a break in China.

Chinese authorities ordered the closing of operations that create a large share of the world’s supply of bitcoin, tightening a clampdown that has already shuttered exchanges for the trading of cryptocurrencies in China.

A multiagency government task force overseeing risks in Internet finance issued a notice last week ordering local authorities to “guide” the shutdown of operations that produce, or “mine,” cryptocurrencies, according to the notice and people familiar with the information.

While the notice called for an “orderly exit” without setting a deadline, far-flung areas of China where cryptocurrency mining operations have flourished are complying. A local regulatory official in the far western region Xinjiang said Wednesday that his agency received the notice and is doing “what the country wants.”

Pooling Bitcoin

China still accounts for the lion's share in global bitcoin “mining,” or production, even as authorities move to clamp down on operations.


Chest Rockwell
Jan 11, 2018 - 5:07pm

"The Apocalyptic World at $10,000 oz. Gold"

We've all heard this phrase a 1000 times and again in this podcast. We live in a world where some coins (I think around 1500 kinds and rising (So much for scarcity)) made of digits, just rose from nothing to around $15000. Or at least multiple x's of nothing. Yet there's no nuclear war, food riots, or the like. So what makes everyone think $10,000 oz gold is so scary? Only governments (holding gold), and the very few invested will benefit.

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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