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Here Comes Jackass Cottontail

It's a holiday weekend. You know what that means...

36

What's a holiday weekend at TFMR without a visit with our old friend, The Golden Jackass himself, Jim Willie.

Over the course of this call, we primarily update a few of the recurring themes we've been following for the past few years, namely...

  • Ongoing de-dollarization
  • The impact of the OBOR project
  • How the petrodollar and "trade-deficit dollar" support The Great Ponzi...
  • which all leads us to...
  • Why The Fed is permanently on a course of IQEF -- Infinite QE Forever

Please be sure to carve out some time for this audio over the weekend. It's only about 45 minutes so it's on point and focused. You'll be glad you gave it a listen.

TF

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Boggs
Apr 21, 2019 - 7:45pm
Apr 21, 2019 - 3:44pm

Sunday CoT thoughts

For the week, CDG was down $31...remember that the smash began after the March FOMC minutes on April 10.

Huge move in both categories. Large Specs reduced their NET long by 39,100 contracts t0 about 56,300. That's the lowest level since Dec 11, 2018. The Commercials reduced their NET short by 54,400 contracts. This is a HUGE amount. The largest one week NET short reduction since the survey of Dec 12, 2017.

While all that is interesting, it's the silver CoT that's most compelling.

We knew that the Lareg Specs were adding shorts simply because price is below the 200-day and, for the week, price fell 30¢ with total OI up 16,000 contracts. And they did add A LOT of shorts...but not as many as I expected with their NET long position falling by 10,500 contracts back to just 5,900 or so.

The crazy part is the Commercial GROSS long position. They added 15,451 contracts and, because they added so many, the Commercial GROSS short position actually had to go up, too.

So, check this out...The Commercial GROSS long position is now 94,236 contracts. This is a NEW ALLTIME HIGH exceeding the previous ATH of 91,362 contracts seen on the survey of Aug 21, 2018. And where was price on Aug 21, 2018? See below.

ancient Egyptian...ex-canary
Apr 21, 2019 - 12:05pm

Novo...hope

CDFund Discovery Day - Keith Barron & Quinton Hennigh

Miners are oversold, therefore a little bounce is possible. If so, I will sell some and add to Novo (possible Pacton Gold)...

Btw...After Chinese mega stimulus, I expect green shoots in global economy...and gold (charts broken) to resume selling to possible $1220-$1240 level, before early summer....Better second half of this year...Still below $1380.

Edit...Tere's been too much of me here lately....President Trump would say: "Not Good".

Angry Chef
Apr 21, 2019 - 11:27am

Four Thing That I Would Do

I could think of more than four but I would do the following:

1. Default and eliminate the debt. It was borrowed into existence and issued with Usury.

2. Bring the Fed under the US Treasury and have the Treasury create the money without usury.

3. Bring back the Constitution and Bill of Rights and enforce them so that this becomes the Rule of Law.

4. Stop the Wars. They don't serve the American people. They serve the Banksters. Or as Lyndon Larouche would say. "America has to stop being the British Empires dumb giant ".

I would also go back and arrest and collect every dime stolen from the US Treasury since August 16, 1971 when Nixon closed the Gold window. But lets start with the above and report back in five years.

ancient Egyptian...ex-canary
Apr 21, 2019 - 9:48am

If we're turning Japanese....

Same for Europe. Low growth and no inflation...than we have a problem, I think, because the US dollar will have nothing to devalue against. The gold cartel and the algos will do the rest. If the Fed comes with rate cuts and more QE, the rally in gold may be only temporary....Unless (and here is my hope), China and India will not succumb to the same gangrene as the West, and will continue to grow. Its huge population improving income will put more pressure on the physical demand for PMs.

If the whole world goes Japanese (West, East, North and South)...than our problems are over my head....me and my doggies will age being poor, hopefully staying healthy. Actually, we get quite a good exercise together.

boomer sooner
Apr 21, 2019 - 2:38am

Dave Collum interview by

Dave Collum interview by Quoth the Raven. Some good stuff. Caution, language not for young ears.

https://www.podbean.com/media/player/se2j4-ae903a-pb?vjs=1

Key Economic Events Week of 4/19

4/22 8:30 ET Initial jobless claims
4/22 10:00 ET Existing home sales
4/22 10:00 ET LEI
4/23 9:45 ET April flash PMIs
4/23 10:00 ET New home sales

J Siefert
Apr 21, 2019 - 2:37am

In British English...

... the "Short Hairs" are known as the "Short & Curly".

Ozymandias
Apr 20, 2019 - 11:10pm

The Fed surely doesn't want inflation

because they are smart enough people to know that if they stop paying interest on the 100's of billions excess reserves that currently have a velocity of zero, that money will instantly go into the economy with a boom to the inflation rate. The question is why are they still paying interest on that money if they really want an increase in inflation. I don't know but they might fear that it would be a Pandora's box or maybe just to keep the banks fat with minimal risk.

Think I'll just keep stacking!! Just my 7.425 grains worth.

hindsight101
Apr 20, 2019 - 11:00pm

dollar devalues against what???

That is my question. Unless inflation increases and gold inflates against the dollar.....It will be a while before a sustained rally for the metals materializes...delivery default is a possible motivation....but the banksters will cover it up.

cyclemadman
Apr 20, 2019 - 7:38pm

4 things but I'm not Angry Chef

If I were dictator in America I would:

1. Protect human life, abortion and assisted suicide would be made illegal.

2. Abolish the Federal Reserve.

3. Abolish the income tax.

4. Abolish federal agencies that shouldn't exist according to the Constitution. Which would be most if not all of them.

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Key Economic Events Week of 4/19

4/22 8:30 ET Initial jobless claims
4/22 10:00 ET Existing home sales
4/22 10:00 ET LEI
4/23 9:45 ET April flash PMIs
4/23 10:00 ET New home sales

Key Economic Events Week of 4/12

4/13 8:30 ET CPI
4/13 12:00 ET Goon Harker
4/14 8:30 ET Import Price Index
4/14 12:00 ET Chief Goon Powell
4/14 2:45 ET Goon Chlamydia
4/15 8:30 ET Retail Sales
4/15 8:30 ET Philly Fed
4/15 8:30 ET Empire State Manu
4/15 9:15 ET Cap Ute and Ind Prod
4/15 2:00 ET Goon Daly
4/15 4:00 ET Goon Mester
4/16 8:30 ET Housing starts

Key Economic Events Week of 4/5

4/5 9:45 ET Markit service PMI
4/5 10:00 ET ISM service PMI
4/5 10:00 ET Factory Orders
4/6 10:00 ET JOLTS job openings
4/7 9:00 ET Goon Evans
4/7 12:00 ET Goon Barkin
4/7 2:00 ET March FOMC minutes
4/8 12:00 ET Chief Goon Powell
4/9 8:30 ET PPI
4/9 10:00 ET Wholesale inventories

Key Economic Events Week of 3/29

3/30 9:00 ET Goon Quarles
3/30 10:00 ET Consumer Confidence
3/30 2:30 ET Goon Williams
3/31 8:15 ET ADP Employment
3/31 9:45 ET Chicago PMI
3/31 time TBA Biden Infrastructure speech
4/1 9:45 ET Markit Manu PMI
4/1 10:00 ET ISM Manu PMI
4/1 10:00 ET Construction spending
4/2 8:30 ET BLSBS

Key Economic Events Week of 3/22

3/23 9:00 ET Goon Bullard
3/23 12:00 ET CGP and Mother on Capitol Hill
3/24 8:30 ET Durable Goods
3/24 9:45 ET Markit Flash PMIs March
3/24 10:00 ET CGP and Mother on Capitol Hill
3/25 8:30 ET Q4 2020 CDP final guess
3/25 12:00 ET Goon Bostic speech
3/25 3:45 ET Goon Chlamydia speech
3/26 8:30 ET Personal Income and Spending
3/26 8:30 ET Core Inflation
3/26 10:00 ET Consumer Sentiment

Key Economic Events Week of 3/15

3/15 8:30 ET Empire State Index
3/16 8:30 ET Retail Sales
3/16 8:30 Import Price Index
3/16 9:15 ET Cap Ute and Ind Prod
3/16 10:00 ET Business Inventories
3/17 2:00 ET FOMC Fedlines
3/17 2:30 ET CGP presser
3/17 8:30 ET Philly Fed

Key Economic Events Week of 3/8

3/8 10:00 ET Wholesale Inventories
3/10 8:30 ET CPI
3/10 2:00 ET Federal budget
3/11 8:30 ET Initial jobless claims
3/12 10:00 ET JOLTS job openings
3/13 8:30 ET PPI
3/13 10:00 ET UMich sentiment

Key Economic Events Week of 3/1

3/1 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 1:00 ET Goon Brainard
3/3 9:45 ET Markit Service PMI
3/3 10:00 ET ISM Service PMI
3/3 12:00 ET Goon Bostic
3/3 2:00 ET Goon Evans
3/4 8:30 ET Unit Labor Costs
3/4 10:00 ET Factory Orders
3/4 12:00 ET Chief Goon Powell
3/5 8:30 ET BLSBS

Key Economic Events Week of 2/22

2/22 10:00 ET LEIII
2/23 9:00 ET Case-Shiller home prices
2/23 10:00 ET CGP at US Senate
2/24 10:00 ET CGP at US House
2/24 1:00 ET Goon Chlamydia speech
2/25 8:30 ET Jobless claims
2/25 8:30 ET Durable goods
2/25 10:30 ET Goon Bullard
2/26 8:30 ET Pers Inc and Spending
2/26 8:30 ET Core inflation
2/26 9:45 ET Chicago PMI
2/26 10:00 ET UMich sentiment

Key Economic Events Week of 2/15

2/17 8:30 ET Retail Sales
2/17 8:30 ET PPI
2/17 9:15 ET Cap Ute and Ind Prod
2/17 10:00 ET Business Inventories
2/17 2:00 ET January FOMC minutes
2/18 8:30 ET Initial jobless claims
2/18 8:30 ET Import price index
2/18 8:30 ET Philly Fed
2/19 9:45 ET Markit Feb flash PMIs

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