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Our old pal Jim Willie, The Golden Jackass, stops by today for his annual year-in-review and look ahead. If you can find some time over the holiday, you should be sure to have a listen.

As usual, Jim is full of valuable information. Over the course of this podcast, just a few of the topics discussed are:

  • the ongoing REPO/QE crisis
  • central bank and media tricks and semantics
  • the growing alliances against the US$
  • how gold will be central to the next monetary system
  • the US treasury bond as the new global contagion
  • and, as you might imagine, a whole lot more

Thanks again to Jim for his time and willingness to share his insights with all of us at TFMR. It is going to be a volatile and unpredictable 2020. Listen to this podcast and begin to mentally prepare for what's ahead.



Jan 2, 2020 - 8:55am


Silver 18.13

Jan 2, 2020 - 7:31am

Silver shortage UNfixed again


As shown in this chart, the sharp price rise in SI to 26th December "fixed" the shortage evidenced by a narrow spread between cash silver and futures.

As also shown, just one week without further price rises has "unfixed" it again as the market again goes into strongly undersupplied state.

Interpretation: a stable physical market currently requires a rising price. Note well: not just a higher price, but a continuous rise in price. The basis chart suggests that the market is just as hungry for physical metal now as it was before this bull leg began in early December.

And with that I am off for a while longer - health and happiness to all. The spread between SIY00 and SIH20, which is just about all I ever post about, can be accessed through the links on any one of my posts! When the spread is very tight or goes backward in a contract with plenty of time to run they can paint the chart all they like; we know that there is further upside.

When the market begins to look toppy or badly unsupported - a few months I would guess - I will be back as a prophet of doom.

For now, on each dip just beware that last percent or two of downside.

Ratio out.

Jan 2, 2020 - 4:06am

DEC 31st, Avi Gilbert "Gold Investors Wrongly Fear The COT"

The oft maligned Mr Gilburt spit out some facts early Tuesday:

"Many investors are getting spooked because of the COT report.

If you look at history, you will see that the COT is relatively meaningless during bull markets in gold."


Jan 2, 2020 - 2:25am

So sorry that Jim has been taregtted by the pedo protectors.

He was way before his time. Thankfully the heat may be coming off. So much more to concentrate on as the bigger scheme emerges.

Hold tight Jim.

Jan 2, 2020 - 1:50am


Actually, by taking the Econ 101, one learns about the supply and demand principle.

Comex on the the hand operates more like quantum physics...where every particle can be at the same time in infinite places with different probabilities....and that's how the universe works (according to physics).

Don't be surprised, if the number of contracts on Comex, expends to infinity.

Jan 1, 2020 - 11:17pm

Zman, everything goes

Zman, everything goes swimmingly for the money printers, right up to the moment it fails, as it always has. Gold is not $40 or 400 and Silver is not $1 or 4; proof that in spite of unlimited printing and power over the economic system; they can't control the progressive debasement and loss of faith in their system.

Ever higher record open interest as Gold and Silver have quadrupled in 20 years is not a show of strength... just BTFD, laugh at them, and stop worrying, unless you plan to wall paper a really big room with all the fiat you hope to win in the Casinos.

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

Bard the Bowman
Jan 1, 2020 - 10:14pm

Hot off the press...

Craig Hemke - Basics of COT Report Simplified for Gold and Silver Investors
Jan 1, 2020 - 9:22pm

more OI LOL

Based off of Tuesday's preliminary OI numbers...

Comex Gold price up 18.8% in 2019.
Comex Gold total contract open interest up 335,062 contracts or 74.2%.

Comex Silver price up 15.1% in 2019.
Comex Silver total OI up 53,566 contracts or 30.4%.https://t.co/TWvqdc5A0V

— TF Metals Report (@TFMetals) January 2, 2020
Jan 1, 2020 - 9:15pm

Jim Willie

Allenb, I see your point. Myself, I don't care how shallow, selfish or bizarre he appears. He's human. I have listened to over 10 years of his free interviews and I like him. One has to ignore a fair share of woo woo, whining, wandering off subject, etc. but to me that does not diminish his straight talk. He's good. Really good. Thank you for your comments. You have very high standards and I appreciate that.

Jan 1, 2020 - 8:58pm

also LOL...

Recall the rally Monday night to $1528. The controlled walk backward all day Tuesday and then the maneuver below $1520 to $1519.95 at the Globex close.

With this in mind, is it any surprise that Comex gold total contract open interest soared by 14,300 contracts on Tuesday to another new alltime high of 786,422?


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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

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

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