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Your Holiday Weekend Jackass

Jim Willie gets us ready for year end and 2019.

40

We'll speak with Jim again in a few weeks for our annual year-in-review and look ahead. For today, however, I thought we should mainly focus upon the three main subjects that have Jim's attention into the end of 2018.

And those three, primary topics are:

  • The ongoing issues at DeutscheBank and the impact on the EU Banks
  • Surging US borrowing amounts and borrowing costs
  • The latest 30% drop in crude oil and what it might be telling us

And as you might imagine, there's quite a bit in between, too. So, settle in and give this podcast a thorough listen. I'm sure you'll find it time well spent.

TF

p.s. Not only can Jim's work still be found at www.goldenjackass.com, he's alost transitioning to a new, mobile-friendly site at www.golden-jackass.com. Additionally, he has a new podcast venture that you should check out at www.thegadfly.vhx.tv

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HugoBoss
Nov 23, 2018 - 6:15am

Morning Folks,

Morning Folks,

Very much hope our American readers here are enjoying Thanksgiving. In the mean time, to my uneducated eye, looks like the Banksters remain firmly in control. Flicking through the Bullionvault charts it appears all us silver stackers got kicked this week. Sounds daft but really hoping for a capitulation 'failure to deliver moment' in the metals sometime soon.

On a Separate note to Turd, keep up the great work and any chance you can get David Brady back on for another conversation soon. Following you both on Twitter, whilst David and your articles at Sprott Money greatly compliment all your efforts here at TFMetals.

Joseph WarrenAngryCitizen
Nov 23, 2018 - 3:47am

Ours is a society ruled by

Ours is a society ruled by money junkies (acquisators). Not all societies have been ruled the same. Others were ruled by warriors or intellectuals. (These ideas on the nature and evolution of societies was formulated by the Indian philosopher Sarkar.)

In money junkie societies eventually all is taken over and corrupted using money. Is this not true of all aspects of this society ? - Politics, education, religion, media, art, etc. Those inside such an acquisator ruled society think ‘that’s the way it is’ and cannot imagine there being any other way.

But consider a couple of warrior ruled societies- the ancient Spartans and the Japanese samurai of medieval Japan. Would they have allowed a bunch of fat balding soft banksters and their slick talking hired lawyers to rule over them ?

Not likely.

mavens
Nov 22, 2018 - 11:27pm

https://www.youtube.com/watch

never mind... I thought this youtube vid was going to be better than it was.

AngryCitizen
Nov 22, 2018 - 10:15pm

Why does no one talk (or at

Why does no one talk (or at least think about) nationalizing the banks? It's the only solution with any justice. No future generation owes a penny to those who tried to enslave them in the previous generations. It's the banksters' fault for going along with such a ridiculous deal in the first place. Same with corporations.

Raise your glass and toast to our host and leader, TF, to whom I am thankful for his willingness to share his resources with us.

And to all of Turdville, a wonderous thanksgiving celebration!

Joseph Warrenmavens
Nov 22, 2018 - 9:40pm

@mavens - thank you for the

@mavens - thank you for the chuckle ! I’ll definitely have to share that with others

mavens
Nov 22, 2018 - 9:29pm

LOL

LOL

Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

Joseph WarrenAGXIIK
Nov 22, 2018 - 8:28pm

On the other hand we could go

On the other hand we could go the usual route and reset the table through a world war that could kill millions, - and potentially billions given current weapons technology.

Just how stupid are human beings ? They can choose between forever debt serfdom or massive death.

Or just maybe they can think for themselves and outside of all the boxes of the past. Maybe.

Of course the banks won’t ‘allow’ it. That is the view within a box that was constructed for the population long ago.

Mickey
Nov 22, 2018 - 8:25pm

The Minsky Moment

The Minsky Moment

AngryCitizen
Nov 22, 2018 - 7:56pm

As Rickards has said, It's

As Rickards has said, It's not how much gold is available, it's what that gold "exchanges for " when moving into or out of it. Revaluing the gold in terms of fiat is not hard. The guberment did it (TWICE) already.

usdebtclock.org puts the dollar to gold ratio at $4563ish now, but why couldn't gold go higher per oz as things get worse in the economy?

Just saying...

AGXIIKJoseph Warren
Nov 22, 2018 - 7:35pm

Joseph Warren   The Hudson

Joseph Warren The Hudson book recap was telling. Debt jubilee is unlikely because it would completely gut every bank, medium and large in the world. Steve St Angelo of SRS Rocco posted his article from yesterday noting that the global debt increased $8 trillion in the first 6 months of 2018. It now sits are $247 trillion. It's likely though that the global debt will increase by $30 trillion this year, well ahead of the $22 trillion increase in 2017 according to Steve and my minor extrapolation for the full year. We could easily see $260 trillion by end of 2018. The debt jubilee is unlikely for that reason. The debt serfs many no realize or care they are far beyond their capacity to liquidate debt an din most cases barely able to pay the interest in the debt, something on the order of $12 trillion a year, 15% of the entire world GDP.

The notion of a jubilee has been perverted for centuries. The offices of bankruptcy allow formal debt repudiation but that satisfies only a tiny bit of total global debt, held largely major corporations, banks and sovereignties. Debt jubilee would imply removal of debt largely of those who created the debt in the first place. Those are local, state and national governments as well as central banks and TBTF banks plus major corporations. I cannot figure out how this would come to pass. However it might happen, the road is bumpy

The world supply of above ground gold is worth around $3 trillion, just a tad over 1% of the world debt load. I wonder how a jubilee would affect the price of the yellow shiny?

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Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

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