Thursday Conversation - Alasdair Macleod of GoldMoney

Please be sure to listen to this FREE, PUBLIC podcast.


Yes, I realize that it's Friday but this week's schedule is such that this podcast could not be posted on Thursday. Additionally, this discussion with Alasdair is so valuable that I wanted to post it at the top of the TFMR homepage and leave it there all weekend.

My purpose in reaching out to my old friend, Alasdair, was to discuss these two recent research pieces. As gold and silver are progressing higher in our 2010+9 scenario (, it's important to consider the potential ramifications of both:

Many thanks to Alasdair for the generous donation of his time. Please be sure to listen and give this podcast your thorough consideration.



Aug 24, 2019 - 5:01pm

Ed steer, Saturday morning

So far in August, there have been 8,402 gold contracts issued/reissued and stopped -- and that number in silver is 1,997...which is a record number for a non-delivery month for silver.

The CME Preliminary Report for the Friday trading session, which didn't appear on the CME's website until around 1:15 a.m. EDT on Saturday morning, showed that gold open interest in August rose by another huge amount...835 contacts, leaving 2,222 still open, minus the 2,009 contracts mentioned several paragraphs ago. Thursday's Daily Delivery Report showed that 63 gold contacts were actually posted for delivery on Monday, so that means that 835+63=898 more gold contracts just got added to the August delivery month. This level of activity at the end of a delivery month is virtually without precedent. The long/stoppers wanted it bad -- so the short/issuers had to deliver it.

Silver o.i. in August is unchanged at zero contracts, as silver deliveries in August are all done.

Aug 19, 2019 - 11:06am

Never mind.

Now it works fine. Weird.

Aug 19, 2019 - 11:04am

Subscription question.

I cannot access the new blog post for Monday morning. It says I need to subscribe. I still have three months remaining on my current subscription. I can access all the other blogs and podcasts just fine. What is up?

Aug 19, 2019 - 10:55am

My hat's off to you

It looks like your prediction was right.

Angry Chef
Aug 19, 2019 - 10:48am

Trump Administration Dropping Hints That They Too Are...

...Interested in Joining the MMT Movement Through The Use of 100 Year Bonds

Nothing smells of desperation and kicking the can down the road like this.

Aug 19, 2019 - 10:08am
Aug 19, 2019 - 8:46am


You may be on to something in that the market computers disregard historical fundamental and technical data and simply react contrary to current trends. If so, they alone can know directional market moves in advance as they are programed to be independent of current or historic trends.

In other words, they are the ultimate contrarian investors as they are not predictable but controllable by market makers...even if for a large client like China or Central Bankers themselves.

More simply...Criminal Theft.

Aug 19, 2019 - 8:41am

Apologies to Turd for the mischaracterization

I know you/the site disproved the hit on the miners signally a hit on the metals on the day before. So it wasnt really fair to you to say you disagree on the metals hit coming after a few days of attacks on the miners. Anyways we had the hit and now we can hope for a FUBM recovery.

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Aug 19, 2019 - 8:10am

Another gauge

friday pm, my covered calls on jnug and nugt were still mostly in the red. That is a quick metric telling me overall i am in good shape, but now i have the decision to buy them back probably at a profit or let them possibly decay more.

not easy decisions.

Aug 19, 2019 - 7:50am

Now that we have a bigger selloff

I may hold on and buy more.

again not sure. This so far is all premarket trading and right after equity option expiry. So anybody who had a short itm option position in say GLD or SLV friday at the close where metals were not beaten down enough, are happy to see this sell off.

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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
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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
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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
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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
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