Sponsored by

Thursday Conversation - David Jensen

Information about palladium that you need to hear.


There's been a lot of talk recently about palladium and, frankly, a lot of misinformation and guesswork from generalists and traders. What's going on in palladium is NOT a speculative bubble...far from it...and David Jensen joins us today to explain why.

David Jensen is a precious metals market analyst and the CEO of a private mining company. I've known David for several years and, back in 2017, he was the first person to alert us regarding the potential Bank-breaking qualities of the palladium market.

As you likely know by now, those Bank-breaking qualities have only been exacerbated in recent months. The global palladium market is experiencing a serious physical supply squeeze. How can we state this with certainty? Check the exorbitant lease rates for physical palladium in London as well as the backwardation of the futures board in New York.

Some have stated that the rise in palladium is simply a "speculative bubble". If that was the case, we'd be seeing a sharp rise in open interest and trading volume on Comex in New York. However, Comex palladium open interest was 29,000 contracts last November when price was $1100 and it remains near 29,000 contracts today with price near $1500. While average daily volume has grown to near 10,000 contracts, that's not an unprecedented level, either. See below:

What IS unprecedented is the threat that palladium now poses to The Banks' fractional reserve and digital derivative pricing scheme. The LBMA/Comex palladium market relies upon the same structure of leases, promissory notes, unallocated accounts and forward contracts that serve as the foundation of the LBMA/Comex gold and silver markets. Thus, should the LBMA/Comex palladium market be exposed for the fraud and sham that it is, could recognition of the scam in the LBMA/Comex precious metals markets be far behind?

We've written about this on several occasions, most recently here: https://www.sprottmoney.com/Blog/mr-palladium-punches-back-craig-hemke-0...

So, please take some time to give this podcast a thorough listen. The point is NOT to convince you to buy some palladium. However, what you DO need to consider are the potential long-term implications of a palladium market force majeure and collapse...and what this could mean for the identically-structured LBMA/Comex gold and silver markets.



Apr 6, 2019 - 5:04pm

Canadian mailing laws


Thanks for response and law cite. It's simply unbelievable! I could easily see the U.S. quietly implementing the same law. Anything to hamper the use of non-fiat money. Since they can't debase it and have complete control over it, they don't like it! (and that is stating it mildly).


Mar 20, 2019 - 10:41pm

just noticed your reply - kinda late

just noticed your reply - kinda late. I was going back and looking at old posts.

See section 6.2 of this: https://www.canadapost.ca/tools/pg/manual/PGnonmail-e.asp#1421987

Other misc. prohibited items:

  • gold bullion, gold dust and non-manufactured precious metals unless mailed under an Agreement between Canada Post and the mailer
Mar 2, 2019 - 1:36pm

Ability to mail gold using the Canadian mail system.


Regarding your comment on TF's palladium podcast.

Did you say it is NOT legal to use the public Canadian mail system to send/receive gold?

Mar 1, 2019 - 11:12am

CME Glitch the other evening

Clearly CME changed their software to only allow sell orders. But on ZH the US Gov takes stolen Au from others. Odd since they can create more on paper.

Makes me wonder if the system collapse is in progress. I know all my SLV options are quickly becoming worthless for June


Mar 1, 2019 - 9:59am


one reason Trump is being attacked is he is doing things the liberals wanted to do and claim credit for.

The wall. trafficking, drugs, etc.

I have worked for people like Trump in the past way long ago. Their expectations were very high, and made one accountable-If you screwed up you were out, if you consistently performed above the rim, you were very well compensated and taken care of.

However, along the way you piss people (like Cohen and others) off.

Tough shit, get a thick skin.

I was told that back in 1976 early in my career after spending 7 years in public accounting where there was so much backstabbing that when you walked down a hall you did so with your back to the wall.

Trump is demanding unlike anybody else we have had in the oval office and I dare say unlike anybody else high up in govt fed state or local.

People cannot handle it.

and people are embarrassed he is doing things they could not do, or what they should of done, so they need to protect their turf.

If and when he gets around to narrowing cash flow deficits then I will be impressed and will get out of metals. That said, we now have a huge cash flow deficit from all the mismanagement for more than 50 years from just about everybody in charge of govt and are trending in a very wrong direction.

The mess does not get cleaned up overnight and the toughest thing is to get a change of mindset.

That's nearly impossible unless we close the borders so we do not have millions coming in expecting free this and that which we honestly cannot afford.

Said differently, the 150 million or so taxpayers cannot afford to support the other 7 billion in this world. However we have "flakes" like AOC, Harris, Booker, Gillibrand, Warren, Sanders, Beto et al and others who will make things worse.

Chicago is about to elect a black female mayor. Thats fine. However one was the County President and screwed up the county financially, and the other is to me an unknown and talks about fixing problems. We need serious people with leadership skills and the smarts to fix things. Not what we are getting.

BTW--Trumps people on his staff in WH are not exactly superstars. Perhaps the real superstars are not available, (meaning they do not want to do this).

On the other hand the the old leaders (Greenspan, Rubin and Summers, et all) can be defined if you watch Frontlines "The Warning" which deals with derivatives and dirty politics.

TF Metals fan
Mar 1, 2019 - 9:51am
TF Metals fan
Mar 1, 2019 - 9:38am

COT report delay

I wouldn't be surprised with the monkeys playing in the dark as much as possible before the COT resumes its regular schedule.

Mar 1, 2019 - 9:21am

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

Mar 1, 2019 - 9:15am


Gold still above $1300....Stronger USD and weaker bonds make me worry.

Edit...and the jump in S&P Futures....Who is pumping money to the markets now?...Must be Chinas's turn.

Angry Chef
Mar 1, 2019 - 9:08am

J. Siefert

That podcast by Joseph Farrell brings up some very good points. Just exactly how are the dots connected ? And when one considers the EO President Trump signed on December 21, 2017 allowing for asset forfeiture of anyones assets that is convicted of child sex trafficking and human sex trafficking. And then during his State of the Union address where he mentions the number of children that have been rescued under his watch from human sex trafficking. It does make one wonder why Trump has been so vehemently attacked during his Presidency. From both sides of the aisle and almost the entire MSM. In my lifetime I've never witnessed a President that has been so viciously and consistently attacked. There are many things the Trump Administration have done I don't agree with. But if his Administration gets to the bottom of this. I'll consider him to be one of if not the greatest President of all time.

Subscribe or login to read all comments.


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 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

Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Recent Comments