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Greg Hunter interview with James Turk.

MesquiteMesquite Posts: 4,075 ✭✭✭
in Precious Metals
This is worth a listen.

Audio


As some are want to say ---- you have been warned!
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
–John Adams, 1826

Comments

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I'm not seeing the gold backwardation that Turk is talking about....unless I'm reading these prices wrong. All the prices in 2016 and later are higher than current spot.

    CME gold contract quotes
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    RR,

    I don't know enough to be able to read the tea leaves these guys read and come up with intelligent answers regarding anticipated future trends in the PM markets. However, here is another article regarding backwardation in the gold market and what that signals.

    Text
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Mesquite, I've read Gene A. in the past. Another bull that got blown away in the commodity slump. His backwardation article is over 2 years old, meaningless today. It seems most of the time when these guys come out and scream backwardation....it's not even there. The LBMA has also stopped reporting the Gold Offered Foward Rates listed in that article.

    Jesse's latest update indicating some physical tightness in the PM markets.....lease rates up. Backwardation?
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭
    seems most of the time when these guys come out and scream backwardation....it's not even there

    I've taught you something roadrunner. imageimage


    I don't think I've ever seen backwardation in a bear market or downtrend. Because that's not how backwardation works. Be very leary of folks who try to tell you otherwise.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • MesquiteMesquite Posts: 4,075 ✭✭✭
    What are your thoughts on this put out today by Bill Holter?
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • jmski52jmski52 Posts: 22,851 ✭✭✭✭✭
    What are your thoughts on this put out today by Bill Holter?

    Ultra low or negative interest rates are probably a big factor in this phenomenon.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    Here is the article by Bill Holter I was referring to in my last post.
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • cohodkcohodk Posts: 19,129 ✭✭✭✭✭


    << <i>Here is the article by Bill Holter I was referring to in my last post. >>



    There is no backwardation. His contention about backwardation not being possible shows his misunderstanding of the subject. The oil market went into backwardation in 2008 as did silver in 2011. It happens in the late stage of a bubble and usually lasts for about 1-2 months and results in prices rising 50-100%. It does not occur in downtrends.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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