We Interrupt Your Weekend For This Special Bulletin

Loading the player ...

Download Podcast (Right Click + 'Save As')

Our old friend, The Golden Jackass, reached out last week and suggested that he had some information and analysis that couldn't wait for the next, three-day weekend podcast. Thus this special audio for your weekend listening pleasure.

So what did Jim want to discuss? Primarily the fracturing global bond and equity markets and how the BIS has been preparing for a "debt jubilee" and gold price revaluation for decades.

I've learned that whenever The Jackass has a lot on his mind, it's best to just sit back and let him pontificate with as few interruptions as possible...and that's what we tried to do here. So, sit back and take it all in. There's a lot of information in these 57 minutes and it will require your full consideration.

TF

133 Comments

Ned Braden's picture

Oh Man !!!!!

Unplanned Jackass !

Old Howard's picture

volatility trade

Excellent discussion on the short vol trade.

A more detailed but must listen interview with Chris Cole.

https://www.macrovoices.com/360-chris-cole-volatility-and-the-alchemy-of-risk

silver10sguy's picture

Jim Willie and My Morning Coffee

Now to listen.  Can't wait.  Thanks Turd to you as well and very excited about the historic silver COT!

Mr. Fix's picture

An unexpected pleasure...

Wow! A bonus!

Thank you Craig, and thank you Jim.yesangel

MoonShiv's picture

"Unexpected" Jackass

Truly satisfying things are mostly unexpected.

Thanks Turd.

4 oz's picture

Love it~~~~~~

Unexpected Jackass!

billhilly's picture

Mr. and Ms. JQ Public...

...you don't know what you are missing by not being a vault member.  Seriously, this is the best/easiest spent money of the year for me.  If you are interested in the PM space and want to know its inner machinations, this is the place to be !  

...and that is just the start;  it's the other members of the community which provide the deepest insights !!!

Join for a month and see what you think.

Thanks Craig, and everyone, for creating such a great place !

silver10sguy's picture

Jim Willie Excellent and In Depth

Thanks Turd for a great podcast.  Turdville with a bit of patience is going to be highly rewarded with precious metals.  Wow!  

matt_'s picture

For all stock chart junkies...

I have written some Python-based code for calculating some standard technical indicators and given it away for free:

https://github.com/mzyates/techindicators

Feel free to use the code as a starting point for doing your own manipulation analysis.  I've been adding to the code as I have spare time.  There is an HTML rendering of the included notebook to show some of what can be done:

https://github.com/mzyates/techindicators/blob/master/example_notebook.ipynb

So far I have coded moving averages (simple, exponential, and Kaufman-adaptive), average true range, relative strength index, commodity channel index, accumulation/distribution line, MACD, percent price oscillator, stochastic oscillator, Keltner channels, Bollinger bands, TRIX, and the Vortex indicator.  I'll be adding more indicators when I can.

Enjoy if you want to play around with it.  Nothing in it involves technical analysis/indicators that haven't been published and known for years, so as it is written it won't do anything that you can't already do on stockcharts.com.

scoremore's picture

I called it...

Ole Uncle Jim...love me some Jackass! Haha yes

Katie Rose's picture

My notes from this interview ~ I LOVE WILLIE !!!!!

Here are my notes I took during this interview. I am not a good typist. I am very slow ( dyslexic). Hope I got it right!

I took the notes because I love Willie and wanted to remember what he had to say.

Turd, please correct me if I didn't get it right.

Where does this leave silver, I wonder?

Will it follow gold up? Any thoughts on silver, anyone ???

****************************************

US runaway debt financed by 10 year treasury

QE sent shock waves @ 3%

9 trillion in junk Euro and US Treasuries (mortgage bonds , USA) (Greece and Italy debt,  Euro)

Fed cannot dump 3 trillion in junk bonds from home mortgages, are stuck with them

Chinese dumped our mortgage bonds

Chinese prefers shorter treasuries

now debt only 7.9% covered by gold -- super time to own gold -- nobody wants central banks to go bankrupt

gold/oil ratio is now most impt thing

point is, the Fed will want gold to go up, so their ballance sheet is better

we Americans are too dollar centric, we only look at ourselves and our dollar

gold / oil ratio is now is very impt / Bosel international settlement rules / Central  banks must stop trading in their own bank notes

we have a disaster here with US dollar and international trade -- in 1999, things all changed

we needed another another bubble to blow up (housing), so we set the stage for the derivative bubble

lots of countries lost income from oil -- US forced oil price down -- other countries selling off their own treasuries -- because we  (USA) broke the rules

US needs to raise rates with loss from oil money

Bosel bunch in 2013 Geo politic issue -- QE didn't fix anything -- the Fed has no more weapons left -- saying US Govt debt is going to default -- western sovereign debt -- all this junk paper is going to bring up gold price much higher -- we have no/little gold in Fort Knox -- all nations must let gold go up to cover their own toxic money sheets --

nothing regarding interest rates makes sense

two countries stand out as huge trade surpluses, Germany and China, they must drive up gold price

only benefit to oil price has backfired-- the Fed needs 15000 tons of gold a month

we have got to re-industrialize the USA, China has a better idea -- do it in China and Europe, China won't give us the $$$ to do it here

USA invests in military and chaos -- China says "No, fuck you!" Rosneff oil consortium -- every country in the world will benefit from new oil/gold ratio

China has $20 billion a month trade surplus -- Saudis are stealing Yemen oil -- countries like Russia have surplus oil -- Saudis best oil reserves are gone -- Saudis made a deal with USA to buy our stuff (Los Vegas casinos, etc.) now big shocks to USA due to derivatives -- all banks  JP Morgan, Chase are in huge trouble

the ammunition is used up, Bosel research says QE did nothing -- debt jubilee coming -- raise value of gold asset -- European banks hold lots gold -- both stole Arab gold -- Arab $$$ is gone -- we are going to see gold price sky rocket -- stole our own gold -- let the elites build underground cities and secret space program with our  (USA) gold

gold is going to go up, up, up -- long term treasury bonds are the fuse to light this fire -- 3.0% is the magic number -- the system is not going to be able to defend the number of 3.0% -- those who placed bets to lower interest rates are all off , another failed auction -- CPI just lies and lies

March Fed rates will go up in mid-March

look at what is happening with the failed Treas auction

gold to the moon

scoremore's picture

Katie...

The CoT tells us the commercials (banks) of late are positioning themselves in silver more so than in gold.

The Gold to Silver ratio is at a historically rare level of approximately 80 ozs of silver for 1 oz of gold.

The change in the GSR could happen real fast or it can take a while to develop. It can be an emotional roller coaster.

My personal choice is for silver. I own 233 ozs of silver for every 1 oz of gold currently. I am very tempted to exchange more gold for silver. But it is always prudent to hedge just in case. So this is my struggle right now. I will most likely stand pat.

Even if the GSR rises at the same time gold moves up in price the price of silver will rise too. Just not at the same rate. Again my bet is that the GSR can not remain long term at this high level.

Many times when gold is talked about by the pundits when referring to gold they are truly talking about gold and silver. Jim Willie has constantly stated in past interviews that he believes silver is the best buy on the planet.

silver66's picture

Excellent interview

I have sent emails to some friends telling them to listen !!

As Willie discussed

http://williamwhite.ca/2017/08/03/william-white-comments-in-a-paper-by-malcolm-knight/

Silver66

scoremore's picture

CoT Gold, Silver

scoremore's picture

100 year GSR

bp9291's picture

junk default

So I have maintained for years the US treasuries should be rated junk, with little chance to every be paid except in more junk paper, so talk for years about the US defaulting on their bonds, wondering how this would work? We can't pay and everything turns to crap, we will give you 2 military bases and yellowstone for so much paper.   How about a couple of buildings or 2 million acres in the far west.   So Trump is building the military again maybe we offer protection, but this time we get paid for it.  This all looks very inflationary to me.   Joe

lakedweller2's picture

Fascism

A guaranteed route to indiscriminate death and injustice.

streber's picture

Results of 21 DEC POTUS EO

1,100 pages of all people/organizations whose assets have been blocked or frozen as a result of the Dec 21 Executive Order by POTUS

https://www.treasury.gov/ofac/downloads/sdnlist.pdf

marchas45's picture

Had a litle Inventory

Of some of my Silver last week which I was going to sell but after listening maybe not, laugh

Keep Stacking

infometron's picture

@Angry Chef @lakedweller2

totalitarianism by any other name is still totalitarianism...

infometron's picture

@Marchas45

Ha ha! My Silver Scrooge McDuck moment of the day!!

Keep stacking... like Scrooge McDuck! laugh

AGXIIK's picture

Scrooge McDuck's net worth, Baron Roth and our tax breaks

McDuck's gold stack is estimated to be worth $86 trillion according to the 5 minute flick  following the one you posted,  Infometron

That number is alternately the global GDP, the global net worth,  1/7 of the Rothschild family net worth or the total US debt based on GAAP accounting.  

Since McDuck is American and cannot declare himself expat without paying a 20%  exit tax on his fortune, he'd be wise to buy a country, declare himself a king and  hire a huge army to protect his gold.  Good luck with that because the MIC will invest $3 trillion to declare war on Ducksylvania,  take his gold and serve Scroogie  Peking style at the White House dignitary dinner.

Or he could simply sit on his stack and sooner or later it would be confiscated to pay the debt when the USSA LLC goes tits up and files Chapter 44.  Either way the duck's fucked

Or he could give us all $550,000 in gold on the sly and let the US debt go unpayable.  

I vote for door #3.  

Snapping back to reality such as it is, the new tax bill  lessen Average Joe and Jane's burden around $2,500 a year, costing the government roughly $500 billion  and increasing the debt by the same amount.  Take that over 10 years,  when the tax benefits are scheduled to be retired and we have $5 trillion in new debt to pay for the 'crumbs' the gummint gave up in tax breaks to the homies.

The lunacy of tax breaks that add to the national debt makes as much sense as Wimpy saying

"I'll gladly pay you Tuesday for a hamburger today"

In our case the tax breaks are not much more than a MC D Happy Meal paid for by a 29% credit card maxxed out, in default and the goon squad is coming to collect. Bon Appetit.

I'll take a side of Duck L'Orange and a stack of gold, or in the case of Charlie, a table full of silver

Happy Saturday.  Keep stackin'  What''s good for the goose is good for the stackers.

marchas45's picture

@infometron

My Wee Secret. I'm Really A Duck. Keep Stacking

Katie Rose's picture

bp9291 and scoremore

scoremore,

Thanks for your answer to my question. Every month I am putting $$$ into silver that will go to my late husband's children as a graduation from college gift. Since their Dad was a 100% disabled Viet Nam Veteran they get free tuition and his GI Bill. Hopefully the silver can go for a down payment on a home for them.

bp9291,

I live in the far west (WA State) and please! do not assume there are 2 million acres lying around to be given away for our (USA) debt. I have worked on the farthest western point of the continental USA (Cape Alava Dig on the Ozette Indian Reservation) which is very, very far west, and everybody seems to own their land. The Indians certainly aren't about to give away any more of their land. Where is the 2 million acres coming from???

Can you tell you really set me off?

Sometimes I am happy that folks on the east coast and Midwest have never seen how absolutely stunning the west coast is. In Washington State we have two mountain ranges, the Cascades and Olympics, that I have pack packed throughout since 12 years of age.

I remember going to Colorado and backpacking the Rocky Mountains. I was sooo disappointed. Our mountains begin at sea level, the "great Rocky Mountains" begin at 5000 feet, so visually have 5000 feet less rise than our mountains here.

My Mom came from Kansas at age 18, and often spoke about how it felt to travel on a train through the tulip and daffodil fields during WW II. She came to work at Boeing and help the war effort. She said it took her breath away it was so beautiful compared to Kansas.

I feel so blessed to be born and raised in this beautiful, beautiful far western state.

SteveW's picture

Interesting that Jim should

Interesting that Jim should feel impelled to visit, it must be that he feels the cracks in the system are growing and that as many of us speculate 2018 will be a year to remember.

Also interesting that he presented his thoughts from the viewpoint of Central Banks. Although I look at things differently my viewpoint reaches the same "we are screwed" conclusion.

1. Money issued as debt, with interest, is unsustainable since the interest can only ever be borrowed at interest and so rises exponentially. As long as population growth allows for increasing debt this feature (bug) is not apparent but as population stabilizes we reach a Minsky moment of peak debt. It seems we are there now.

2. I see the 2008 credit crisis as being precipitated by bank fraud in the mortgage market. The Fed "saved" the banks by buying MBS (mortgage backed securities) from them fully valued, rather than market valued at pennies on the dollar. They also flooded the banking system with fresh currency to shore up broken balance sheets.

3. Treasuries have been falling in value since 1982 (when the yielded over 14%). By lowering the Fed funds rate to 0 - 0.25% at the end of 2008 the value of Treasuries also fell. Now it seemed to me that this was done to protect the interest payment on the burgeoning US sovereign debt and so extend the ponzi scheme a little longer. I see the fact that Treasuries held by Saudis etc. more as collateral damage and not necessarily a broken agreement relating to the petro-dollar.

4. Gold is interesting. Before WWI its price was fixed in various currencies and their balance of payments were cleared in gold. If a country had a deficit it would lose gold to pay for goods whereas surplus countries would gain gold. So to maintain trade, currencies would be revalued against gold. Bretton Woods was an experiment making the US dollar as good as gold at $35 an oz, payable from the US treasury in gold to those countries accumulating dollar surpluses. This fell apart in the late 1960's when a two tier market developed of official gold and consumer gold available to most of the world (except US) at around $40. In 1971 convertibility was temporarily stopped and all global currencies are now Jedi mind tricks (just like Imperial credits and crytocurrencies).

5. Oil is the most important commodity since it powers our civilization and allows us to eat. Some calculations show that for each unit of food energy consumed 10 units of oil energy are burned. Furthermore tar sands and shale oil provide limited energy return for the energy input.

6. Can the system be saved by revaluing gold? Probably not, Jim looks at the revaluation necessary to make the Fed whole but doesn't look at the 20 trillion US debt. Furthermore the 100 trillion (NPV of promises for Medicare and Social Security?) are backed by nothing but paper.

7. Can we buy more time? Probably, the bankers who rule the world plan to bring out the Phoenix this year. Maybe it will be a gold backed cryptocurrency with the seigniorage similar to the Kinesis proposal. In such a world it will be necessary to produce goods and services since levering and defrauding with paper assets will have had its day.

rxman's picture

@ oldhoward

Great video. Thanks for posting. Gonna be a large kaboom.

Rxman

Ben Stackin's picture

Surprised Willie did not comment on...

whether or not the US Treasury actually has any gold.  The belief that the US has substantial gold reserves underpins all his assumptions regarding the prominence of gold in a post reset world.  Of course, the US Gov might be counting on getting ahold of all the gold held by Turddites, given how patriotic we are and would want to contribute to the US financial stability.  Unfortunately, all my gold was lost in a canoe accident last summer.

I believe in the past The Jackass has speculated, as have many others, that the US doesn't have 8500 tons of gold in Ft. Knox and elsewhere.  I recall Teasury Sec. Munchkin (along with Mitch McConnell, KY gov and a congressman) visited Ft. Knox last year and said something vague, like "gold is safe".  The article below states the Treasury claims to have 4500 tonnes of gold there, which is significantly less than 8500 tons, but possibly the official story is that some gold is stored at the NY Fed and maybe other locations so Ft. Knox doesn't have the whole 8500.

https://www.bullionstar.com/blogs/ronan-manly/mnuchins-pr-visit-fort-knox-proves-nothing-us-gold-reserves/

Katie Rose's picture

California – LARGEST INSANE ASYLUM IN THE WORLD

California – LARGEST INSANE ASYLUM IN THE WORLD

Interesting that the LA Times did this. All the others are staying away from it. Whether you are a Democrat or Republican, this should be of great interest to you!

Just One State – be sure and read the last part… try for 3 times.

This is only one State… If this doesn’t open your eyes, nothing will!

From the LA. Times.

1. 40% of all workers in LA County (10.2 million people) are working for cash; and not paying taxes. This is because they are predominantly illegal immigrants, working without a green card.

(Donald Trump was right)

2. 95% of warrants for murder in Los Angeles are for illegal aliens.

3. 75% of people on the most wanted list in Los Angeles are illegal aliens.

4. Over 2/3 of all births in Los Angeles County are to illegal alien Mexicans on Medi-Cal, whose births were paid for by taxpayers.

5. Nearly 35% of all inmates in California detention centers are Mexican nationals; they are here illegally.

6. Over 300,000 illegal aliens in Los Angeles County are living in garages.

7. The FBI reports half of all gang members in Los Angeles are most likely illegal aliens from south of the border.

8. Nearly 60% of all occupants of HUD properties are illegal.

9. 21 radio stations in LA are Spanish-speaking.

10. In LA County, 5.1 million people speak English; 3.9 million, speak Spanish. (There are 10.2 million people, in LA County.

(All 10 of the above facts were published in the Los Angeles Times)

Less than 2% of illegal aliens are picking our crops, but 29% are on welfare.
Over 70% of the United States’ annual population growth, (and over 90% of California, Florida, and New York), results from immigration. Also, 29% of inmates in federal prisons are illegal aliens.

We are fools for letting this continue.

HOW CAN YOU HELP?

Send copies of this letter, to at least two other people. 100, would be even better.

This is only one State…If this doesn’t open your eyes nothing will, and you wonder why Nancy Pelosi wants them to become voters!

IF YOU DON’T AGREE, JUST DELETE — IF YOU DO PASS IT ON!

WHERE DO WE GET THESE MORONS?

Windfall Tax on Retirement Income…

Adding a tax to your retirement is simply another way of saying to the American people “you’re so darn stupid that we’re going to keep doing this until we drain every cent from you”. Nancy Pelosi wants a Windfall Tax on Retirement Income. In other words, tax what you have made by investing toward your retirement. This woman is a nut case! You aren’t going to believe this

Nancy Pelosi wants to put a Windfall Tax on all stock market profits (including Retirement fund, 401K and Mutual Funds)!

Alas, it is true - all to help the 12 Million Illegal Immigrants and other unemployed Minorities!

This woman is frightening. She quotes… ‘We need to work toward the goal of equalizing income, (didn’t Marx say something like this?) in our country; and at the same time limiting the amount the rich can invest. (I’m not rich, are you?)

When asked how these new tax dollars would be spent, she replied:

"We need to raise the standard of living of our poor, unemployed and minorities. For example, we have an estimated 12 million illegal immigrants in our country who need our help along with millions of unemployed minorities. Stock market windfall profits taxes could go a long way to guarantee these people the standard of living they would like to have as Americans."

(Read that quote again and again and let it sink in.) ‘Lower your retirement; give it to others who have not worked, as you have’ for your money.

This lady is out of her mind!

http://beforeitsnews.com/

Syndicate contentComments for "We Interrupt Your Weekend For This Special Bulletin"