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TFMR Podcast - Tuesday, June 25 - A conversation with Ronni Stoeferle


If you have an interest in the precious metals, then the annual "In Gold We Trust" report from Incrementum AG is always a must read. As a follow-up, here's your chance to hear directly from one of the report's principal authors, our pal Ronald-Peter Stoeferle.

The compact version of this year's report is embedded below. If you'd like to download the full version, you can do so through this link: https://ingoldwetrust.report

For this podcast, Ronni and I discuss three themes that were primary topics in the 2019 report:

  • The concept of trust and the continuing loss of confidence in global institutions.
  • The notion that "the best track record for recession forecasts is found in the yield curve".
  • Has creative destruction in the mining sector set the stage for a bull market in the shares?

We also discuss these three charts that are taken from the report:

You're going to really enjoy this podcast. Thanks in advance for listening.



Jun 27, 2019 - 12:38am

Only Education

On a massive scale will change our course.

”...Educate the people.”

Jun 26, 2019 - 12:51pm

Uncle Sam with dollars in one pocket and a gun in the other,

sitting around a table playing cowboy poker; a bad deal for everyone in the bar

Sitting around the G 20 table; the whole world's getting dealt Aces and Eights

RickshawETFAngry Chef
Jun 26, 2019 - 11:17am

Ya think?

Я думаю?

You're welcome . . .

Angry Chef
Jun 26, 2019 - 10:33am

"The Dollar Is Becoming Toxic" - Russian Intel Chief Slams....

"The Dollar Is Becoming Toxic" - Russian Intel Chief Slams "Aggressive, Unpredictable" US Behavior


How do you say " ya think " in Russian ?

Jun 26, 2019 - 10:05am

It's way worse than I thought DeaconBenjamin

There were vague reports during the Obama Administration that a big part of the $200-250 billion in fines levied against the criminal banksters was rerouted to these pimp NGO agencies. It seems that the funds are just rotated through the system, recycled back to the banks who stole from the people in the first place.

The people in question are targeted as fresh new borrowers, taken from the welfare lists and illegal alien DMV roles, to be fleeced again while the banks make trillions, aided by the self serving pseudo governmental agencies who treat their clients like slaves on a plantation.

When caught in with their hands in the cookie jar, the banks offer up a faux apology, pay a penny on the dollar while the poor become poorer as the rest of the middle class takes up permanent residence in poverty-ville

In my world these were called NNPBL. Negro No Pay Back Loans. Some of the most racist people I ever met were bankers.

Red lining was everywhere but never talked about. Loans inside the red line zone bore interest rates 100-200% higher than outside. Now the loan sharks are on every street corner, sometimes occupying the same buildings as the banks who set up shop there decades ago.

The novo loan sharks are called Dollar Loan Store, Signature Loans, Auto Pawn and Payday Loan. Read the sign on the wall noting the APR. 450%. I'd rather borrow from the mob with the vig at 1.5 points a week. Recall stories about owing your soul to the company store. The entire country is now the Company Store. Our souls are collateral securing the debt

I shit you not, that is what they were called. NNPBLs. The banks knew the loans would not be paid. When they defaulted, the banks were made whole by the government while the people who borrowed were destroyed financially.

This all started back in the Carter era with the CRA (Community Reinvestment Act) mandates that a certain amount of bank lending had to be made to the disadvantaged communities. For a bank to buy another bank or expand its operations to a new city or state, the CRA mandates had to be met and documented.

A lot of really low quality loans were made just prior to expansion requests in order to curry favor with the Fed agencies that gave the green light to bank growth. That makes about as much sense as giving cancer the green light to invade your body

Given the nature of these ultra liberal NGOs client base, I'd say the Reparation Treadmill is well oiled and operating quite nicely.

Catherine Austin Fitts has tracked the $21 trillion funneled through the Pentagon and HUD Compared to few hundred billion those trillions amount to serious money. I find it no coincidence that $21 trillion is quite close to the national debt of $22 trillion. Where did those funds go?

This was and is systematic looting of the American people. All these fines are paid for by the people paying usurious rates charged to the average borrower, with bank free to levy spurious charges like a late fee or OD at the bank, neither of which is warranted given the 19-29% rate most banks charge for short term loans and credit cards. With trillions in consumer debt outstanding and slow pay commonplace, the looting of the American people proceeds apace

With the next crash the banks will face no penalties or the perils of loan losses. With the new laws that make all deposits the property of the bank, the customers of the bank are nothing more than unsecured creditors of their financial institution.

The TBTF banks which now concentrate 80% of all accounts within their walls, have a bail in mentality now written in law. The banks will not fail. They'll be bailed in with the customers money. Cyprus and Greece were just a warm up to the global looting of our cash. Get Out Of Dodge is even more appropriate now that ever

Gold and silver are the currency of the overlord class.

Debt is the currency of slaves

Angry Chef
Jun 26, 2019 - 9:58am

GOOGLE EXECS PANIC! Go Into Hiding – Delete Social Media...

...Accounts After James O’Keefe’s Latest Exposé


Chickenshit cowards should be sent to Afghanistan tonight !

Angry Chef
Jun 26, 2019 - 9:52am

Thought of the Day

"If you are thinking 1 year ahead, plant seeds If you are thinking 10 years ahead, plant a tree If you are thinking 100 years ahead, educate the people." -- Chinese Emperor Kuan Tsu, 5th centuring BC

... Unfortunately we live in a time where thinking ahead consists of the next click bait....

Jun 26, 2019 - 9:07am

CNBS misquoted Mnuchin

They said he said China deal is 90% done, inferring it was close, but what he said is past tense it was 90% done, but it was a way to go.

cnbc changed the wording and gold regained 6-7 bucks, and that could have been the durable goods, But the damage was done.

When you see this type of volatility its all about algo trading and only the big boys and girls can do that.

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Jun 26, 2019 - 8:52am
Jun 26, 2019 - 8:41am

May Dismal Goods

Durable Goods: -1.3%, Exp. -0.2
Durable Goods ex trans: -1.3%, Exp. -0.2
Cap Goods orders non-def ex air: 0.4%, Exp. 0.1%

— zerohedge (@zerohedge) June 26, 2019

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Key Economic Events Week of 1/18

1/19 10:00 ET Mother for SecTreas hearing
1/20 12:00 ET POTUS Inauguration
1/21 ECB meeting and rate decision
1/21 8:30 ET Housing Starts
1/21 8:30 ET Philly Fed
1/22 9:45 ET Markit flash PMIs (Jan)

Key Economic Events Week of 1/11

1/11 12:00 ET Goon Bostic speech
1/12 10:00 ET JOLTS job openings
1/13 8:30 ET CPI
1/13 1:00 ET Goon Brainard speech
1/13 2:00 ET Beige Book
1/14 8:30 ET Import price index
1/14 12:30 ET Chief Goon Powell
1/15 8:30 ET Retail Sales
1/15 8:30 ET PPI
1/15 9:15 ET Cap Ute and Ind Prod
1/15 10:00 ET Business Inventories

Key Economic Events Week of 1/4

1/4 9:45 ET Markit manu PMI
1/4 10:00 ET Construction Spending
1/5 Georgia U.S. Senate election
1/5 10:00 ET ISM manu PMI
1/6 US election certification
1/6 8:15 ET ADP Employment Report
1/6 9:45 ET Markit service PMI
1/6 10:00 ET Factory Orders
1/6 2:00 ET December FOMC minutes
1/7 8:30 ET Trade Deficit
1/7 10:00 ET ISM service PMI
1/8 8:30 ET BLSBS
1/8 8:30 ET Wholesale Inventories

Key Economic Events Week of 12/21

12/21 8:30 ET Chicago Fed
12/22 8:30 ET Q3 GDP final guess
12/22 10:00 ET Consumer Confidence
12/23 8:30 ET Durable Goods
12/23 8:30 ET Personal Inc and Spending
12/23 8:30 ET Core Inflation

Key Economic Events Week of 12/14

12/15 8:30 ET Import Price Index
12/15 8:30 ET Empire State Index
12/15 9:15 ET Cap Ute and Ind Prod
12/16 8:30 ET Retail Sales
12/16 9:45 ET Markit flash PMIs Dec
12/16 10:00 ET Business Inventories
12/16 2:00 ET FOMC Fedlines
12/16 2:30 ET Chief Goon Powell presser
12/17 8:30 ET Philly Fed
12/18 8:30 ET Current Account Deficit
12/18 10:00 ET LEIII

Key Economic Events Week of 12/7

12/8 8:30 ET Productivity & Unit Labor Costs
12/9 10:00 ET JOLTS jop openings
12/9 10:00 ET Wholesale Inventories
12/10 8:30 ET CPI
12/11 8:30 ET PPI

Key Economic Events Week of 11/30

11/30 9:45 ET Chicago PMI
12/1 9:45 ET Markit Manu PMI Nov
12/1 10:00 ET ISM Manu PMI Nov
12/2 8:15 ET ADP Employment Report
12/3 9:45 ET Markit Services PMI Nov
12/3 10:00 ET ISM Services PMI Nov
12/4 8:30 ET BLSBS
12/4 8:30 ET US Trade Deficit Nov
12/4 10:00 ET Factory Orders

Key Economic Events Week of 11/23

11/23 9:45 ET Markit flash PMIs
11/23 1:00 ET Goon Daly
11/23 3:00 ET Goon Evans
11/24 9:00 ET Case-Shiller home prices
11/24 10:00 ET Consumer Confidence
11/24 11:00 ET Goon Bullard
11/24 12:00 ET Goon Williams
11/24 12:45 ET Goon Chlamydia
11/25 8:30 ET Q3 GDP 2nd guess
11/25 8:30 ET Durable Goods
11/25 10:00 ET Personal Inc and Spend
11/25 10:00 ET Core inflation
11/26 US Market holiday

Key Economic Events Week of 11/16

11/16 2:00 pm ET Goon Chlamydia
11/17 8:30 ET Retail Sales
11/17 8:30 ET Import Price Index
11/17 9:15 ET Cap Ute and Ind Prod
11/17 10:00 ET Business Inventories
11/17 1:00 pm ET Chief Goon Powell
11/18 8:30 ET Housing Starts
11/18 1:20 pm ET Goon Bullard
11/19 8:30 ET Jobless claims
11/19 8:30 ET Philly Fed

Key Economic Events Week of 11/9

11/9 1:30 pm ET Goon Mester
11/10 7:30 am ET Goon Kaplan
11/10 10:00 ET JOLTS job openings
11/10 10:00 ET Goon Rosengren
11/11 Veteran's Day. Bond market closed.
11/12 8:30 ET CPI
11/12 11:45 ET Chief Goon Powell
11/12 2:00 pm ET Federal budget
11/13 7:00 ET Goon Williams
11/13 8:30 ET PPI
11/13 8:30 ET Goon Bullard
11/13 10:00 ET Consumer sentiment

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