Craig Hemke from TF Metals Report – Fri 13 Mar, 2020

Is there a playbook for this kind of panic?

Craig Hemke joins me to discuss what history has taught us about when fear and panic hit the markets. It’s happened before and while no event plays out the exact same there are some constants that we can expect from central banks and governments.

Click here to visit Craig’s site for more metals commentary.


Comments:
  1. On March 13, 2020 at 7:50 am,
    OOTB Jerry says:

    Nenner at usawatchdog……………gold going up…….silver to follow…….

  2. On March 13, 2020 at 7:59 am,
    cfs says:

    Mom….Are we there yet ?

    Dad……I don’t think so !

  3. On March 13, 2020 at 8:00 am,
    OOTB Jerry says:

    Roller coaster ride……….dow is going lower……..

  4. On March 13, 2020 at 8:01 am,
    OOTB Jerry says:

    Forget the paper………..better have the phyz………..

    • On March 13, 2020 at 9:32 am,
      b says:

      Roller coaster? Roller coasters go up after they go down.
      Nothing seems to even be bouncing, including gold.

      Starting to look like the “cash is trash” people were missing some info.

      Still, nice to own some phyzz, even if Dent does end up vindicated.

      • On March 13, 2020 at 9:59 am,
        OOTB Jerry says:

        wonder why……………nothing new here……….
        People forgot the foundation of their investments…….some phyz
        Most of this action, I would think , is paper…….not phyz……
        CME……..is closed today…..

        • On March 13, 2020 at 10:06 am,
          OOTB Jerry says:

          Who declares the spot price……
          I bet Jamie’s hoard goes up today……..was 930MILLION OZ…….let’s wait and see what is is in a couple of months………

          • On March 13, 2020 at 10:08 am,
            OOTB Jerry says:

            Heck,,,,,,,,,with the helpers at the Fraud Fed……pushing out $1.5 Trillion…..wonder who gets the money……

  5. On March 13, 2020 at 8:12 am,
    OOTB Jerry says:

    Poor Turd, does not have a clue……on the FRAUD FED…….He should ask , what is the purpose of the FRAUDSTERS,……DEBT…..and a lot of it…..it, is not to help anyone….it is all about the bank’s friend…..and the FED’s owners…..and who owns 52% of the FED….

    • On March 13, 2020 at 8:13 am,
      OOTB Jerry says:

      Good grief………..TURD, go do a history lesson……

      • On March 13, 2020 at 8:53 pm,
        Excelsior says:

        I think he knows that about the FED and has discussed that same topic many times. His point in the short term is that IF they are going to do some huge financial tinkering that they may as well do helicopter money to the people, similar to what Bush did and it would do more than bailing out banks and too big to fail packages, or cutting rates to oblivion.

  6. On March 13, 2020 at 8:15 am,
    bonzo says:

    Al and Larry, if you go today to http://www.greenmedinfo.com you can read about a peer reviewed article in “Vaccine” that showed that people who got a flu shot in 2017-2018 were 36% more likely to be infected with a corona virus than those who did not take a flu shot. The media will not report this. In fact the NY Times is urging its brain dead readers to get a flu shot!

      • On March 13, 2020 at 10:24 am,
        bonzo says:

        Very interesting about TB as the flu shot makes you 50% more likely to get TB than those who did not take the flu shot.

    • On March 13, 2020 at 9:23 am,
      John Kruschke says:

      Great comment yesterday Bonzo on Vitamin C.
      I follow a Chiropractor who moved his practice to Mexico, he was talking about vitamin C last week. Dr. John Berman. U Tube

    • On March 13, 2020 at 9:42 am,
      larry says:

      https://www.health.news/2020-02-09-flu-shot-ineffective-joke-medicine-only-harms-people.html

      vaccine ineffective plus weakens general immunity…Is Italy additional proof of this tragedy?

    • On March 13, 2020 at 9:47 am,
      larry says:

      https://www.bigpharmanews.com/2019-10-10-who-unicef-admit-polio-outbreaks-caused-by-vaccines.html
      The brainwashed MD’s are the last to know or realize almost anything…
      ‘It is easier to brain wash a person than to convince them later they have been brainwashed’…This is why medical indoctrination programs are lifelong effective methods of brainwashing…Note: if you do not give the answers expected by the program then you fail….hence,motivation enough to become brainwashed..

      • On March 13, 2020 at 10:04 am,
        Matthew says:

        Throw in the psychological effects of ego and paying big tuition and you can see why that brainwashing tends to stick for a lifetime. Not all of them of course. I’ve known many who deserved respect and were very smart and open-minded.

        • On March 13, 2020 at 10:52 am,
          larry says:

          Thanks for that Matthew…I looked into the number of MD’s that convert from pill sellers and disease treaters into functional and alternative prevention practice…It works out to about 1.2% …As such I call the regular medical stooges the 99%….

          • On March 13, 2020 at 11:08 am,
            Matthew says:

            The vast majority are not objective that’s for sure. I figured that out when I was 15.

          • On March 13, 2020 at 11:47 am,
            larry says:

            What happened at 15 Matthew?

          • On March 13, 2020 at 12:23 pm,
            bonzo says:

            My uncle was a doctor and surgeon. Saved many men at the battle of Okinawa and other islands. He warned me in 1975, “Stay away from doctors.”

        • On March 13, 2020 at 12:45 pm,
          RICHARD/DOC says:

          Matthew, thank you.

  7. On March 13, 2020 at 8:20 am,
    Excelsior says:

    Below this I will post an absolutely great concept to consider about the situation the Gold & Silver Producers are in; with high gold prices and falling Oil prices (lowering their costs).

    Gold and some of the larger Silver producer with a Gold component will absolutely be able to cull the overpopulated universe of #explorers and #developers for the best deals. Most junior companies values have crashed, and the producers are cashing up in the current environment, and will be ready for the hunt.

    Investors that only chase the explorers and developers should read this post, and then read it a second time. #BestOfCeo

    https://ceo.ca/silver?1ec153f07d17

    • On March 13, 2020 at 8:22 am,
      Excelsior says:

      Here is the post from ceo.ca contributor @ValueInvest.
      _________________________________________________________________________

      @ValueInvest – “If you hold any $gold and $silver stocks, chances are you are not doing too well. The best holdings right now among your gold and silver stocks are producers of the metal. Those that make revenue and a net income. Even $silver producers are good, because many produce a large quantity of $gold as well.”

      “$Gold is still very high. Many gold and silver producers are creating large free cash flow and net income right now. Their biggest cost (Crude Oil) is down significantly. High $Gold price and lower costs makes for a great net income. They will ride out and survive this crash, because they will not need to do any equity financing at ultra-low prices, or go into debt to raise cash to keep their business going. The more severe this crash becomes, the more opportunity for producers to use their cash flow to buy up bankrupt junior developers or explorers. It is a twisted logic, but smart producers pray for crashes like this. Now is when they make the most accretive $gold and $silver asset purchases for pennies on the dollar. Whoever is most skilled and decisive now will greatly expand its business, and will be the big winner when PM stocks rebound.”

      “I hold $FR (Breakeven Buy Price $8, bought through dollar cost average buying in past several years) and I will not sell it, even if the stock goes lower, because $FR is making large revenue, a small net income and they have a large cash position. $FR its stock price has crashed down, but they will ride out this crash and may take advantage of it by buying up a bankrupt, but high quality project, just like they did with San Dimas. Primero formerly owned and operated the San Dimas mine, but the streaming agreement with $WPM was killing their business. They could not make a profit and huge debt piled up. $FR bought the San Dimas asset at a very accretive price, paid of the debt and renegotiated down the streaming agreement with $WPM. $FR turned a bankrupt San Dimas operation into its strongest and best performing silver mine. CEO of $FR, Keith Neumeyer, is an expert in these kinds of deals. The longer and more severe this crash becomes, the more opportunities will come for Keith to expand $FR.”

      “This analysis does not just refer to $FR, but to every $gold and $silver producer that is making large free cash flow right now. Even though their stock price is down, their businesses are about to become much better. That is what value investing is all about, buy up and hold great and improving businesses at oversold prices.”

      https://ceo.ca/silver?1ec153f07d17

  8. On March 13, 2020 at 8:49 am,
    Temple says:

    WOW — The Cartel is enlisting everyone today…not just Martians, but they brought Ming the Merciless and his crew out of retirement…to slam the PM’s down!

  9. On March 13, 2020 at 9:01 am,
    OOTB Jerry says:

    It is no surprise………..I posted the other day……..CME is CLOSED today…….I said it would get smashed…..

    • On March 13, 2020 at 9:19 am,
      OOTB Jerry says:

      here ya go………
      On March 11, 2020 at 5:41 pm,
      OOTB Jerry says:
      Look for gold to crash on FRIDAY………CME……will close the trading floor……according to reports at zerohedge………..LONDON will Take it DOWN……..JMO
      https://www.zerohedge.com/markets/cme-close-chicago-trading-floor-friday-13th

      Reply to this comment

      • On March 13, 2020 at 9:21 am,
        OOTB Jerry says:

        Funny how the CME…………can conveniently close ……….when they want…..
        Making a THREE DAY HOLIDAY……………..

        • On March 13, 2020 at 9:23 am,
          OOTB Jerry says:

          Since 1913……….the Central banks have been in control……..get with the game plan…

          • On March 13, 2020 at 9:27 am,
            OOTB Jerry says:

            How in the hell does a Central Bank ………come up with $1.5 TRILLION in one day….
            Magic Martians……….without approval………..from Congress…

      • On March 13, 2020 at 10:22 am,
        SilverDollar says:

        Good call. I didn’t see it but probably wouldn’t have acted on it if I had. Totally lost on what to do. Best I’ve heard is on Macro Voices recording of yesterday. Good luck!

        • On March 13, 2020 at 11:40 am,
          OOTB Jerry says:

          Thank you Sir,……CME…….is a scum bag operation………JMO…….
          Nothing is going to change, ….with the CME, Crimex, CFTC…and FED

      • On March 13, 2020 at 11:46 am,
        cfs says:

        I’m getting ready to back up my truck, this is a supersale.

        • On March 13, 2020 at 11:57 am,
          OOTB Jerry says:

          You better hurry, ………Jamie has his semi…….already being loaded……
          I would have to agree…….just gut feeling of course….. 🙂

  10. On March 13, 2020 at 9:34 am,
    John Kruschke says:

    Remember the graveyard spin, the more input you apply, the sooner comes the inevitable crash with the ground.
    The Fed has both hands on the yoke.

  11. On March 13, 2020 at 9:41 am,
    John Kruschke says:

    Here is a repost from Mathew.
    “When the President signs this act [Federal Reserve Act of 1913], the invisible government by the money power — proven to exist by the Monetary Trust Investigation — will be legalized. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.”
    ~ Charles A. Lindbergh, Sr.
    The last American President to hold a private pilots liscense was Dwight Eisenhower. He warned us to.

    • On March 13, 2020 at 9:45 am,
      OOTB Jerry says:

      John………do you follow the US DEBT CLOCK………?

      • On March 13, 2020 at 9:49 am,
        OOTB Jerry says:

        Here are some great quotes…………
        You can select your time periods………at the very top….
        https://www.usdebtclock.org/money-history/money-timeline1100-1791.html

        • On March 13, 2020 at 9:53 am,
          OOTB Jerry says:

          WE all know money manipulation did not start with the Act of 1913…….
          especially, anyone that knows the money changers in the Temple ….
          Christians need to get a handle on their debt/slavery……
          New knowledge to those who have never opened their bibles….I bet…..

          • On March 13, 2020 at 10:13 am,
            Temple says:

            AMEN. Read the Book of Nehemiah. Microcosm of today’s world…and the solutions to this debt-slavery

        • On March 13, 2020 at 10:46 am,
          John Kruschke says:

          I do Jerry, but never the timeline. Thank-you.

          • On March 13, 2020 at 11:22 am,
            OOTB Jerry says:

            You are welcome JOHN…..

  12. On March 13, 2020 at 10:18 am,
    Matthew says:

    The Canadian dollar reversed at double fork support this morning:
    https://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=1&mn=5&dy=0&id=p33191205158&a=569434196

  13. On March 13, 2020 at 10:36 am,
    Ozibatla says:

    I said it yesterday and today absolutely confirms it: silver is done for the time being. It is less than a dollar above its supposed bear market low of 2015. Gold is the lesser of two evils but it also looks bad at the moment. I know the metals are caught up in the “sell everything” mantra but they are still stinking it up ala 2008 right now. We were supposedly told the next crash would be different towards PMs. I dont know why when there is margin calls???

    • On March 13, 2020 at 11:44 am,
      OOTB Jerry says:

      Beginning of a new Dawn………..
      I was hoping to see a break above $21…this year..before entering back in, but, …
      man these prices look……..CHEAP…..for long term planning…..
      But, the World is in a NEW PHASE……EVERYWHERE……..Time for some meditation … 🙂

    • On March 13, 2020 at 6:39 pm,
      Matthew says:

      You might be right but I don’t see how today’s action confirms it. What I see is a violent collapse to a 30 year low versus gold leaving it extremely oversold on the daily, weekly and even monthly chart. The last time silver:gold was this oversold was in December, 2008 and 3 months later it was up 50%, 6 months later it was up 70%.
      So even if silver has further to fall versus the dollar, it is likely to outperform gold soon.

      https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=W&yr=6&mn=0&dy=0&id=p00255566086&a=726895578

  14. On March 13, 2020 at 11:17 am,
    SilverDollar says:

    Here’s Palisade Radio owner with a fairly good interview: https://palisaderadio.com/

    • On March 13, 2020 at 11:54 am,
      OOTB Jerry says:

      Thanks……..

  15. On March 13, 2020 at 11:54 am,
    cfs says:

    beep……Beep….BEep……BEEp……BEEP…..Truck backing up.

    Get out of my JPM I’m buying, and not on margin.

    • On March 13, 2020 at 12:01 pm,
      OOTB Jerry says:

      JPM. Jamie……says there is a virus on your truck……..you will have to wait…
      Besides,……there seems to be some blood on your tires….. 🙂

  16. On March 13, 2020 at 12:24 pm,
    OOTB Jerry says:

    Jm bullion………….notice……..JUST INFO>>>>>NOT PROMOTING….
    Over the last few weeks, we have seen record order volume, with yesterday being our largest sales day of all time. We are on pace for another record day today. As a business, we are doing everything we can to keep up, but with a 2-3x increase in order volume,

    • On March 13, 2020 at 12:26 pm,
      OOTB Jerry says:

      U.S. MINT TEMPORARILY OUT OF
      SILVER AMERICAN EAGLE COINS
      Still a Good Time to Buy Other Silver Bullion

      • On March 13, 2020 at 12:28 pm,
        OOTB Jerry says:

        Discount gold and silver trading company…..
        I AM GETTING ALL KINDS OF NOTICES…………anyone else???????????????

        • On March 13, 2020 at 2:44 pm,
          cfs says:

          I’m not on any mailing lists of dealers, but NONE of any dealers I’ve used before have any stock at a reasonable price.
          That’s 6 of the biggest retail dealers out of silver and platinum.
          Did not look for gold, as I was kinda expecting that to be in low supply.

      • On March 13, 2020 at 3:22 pm,
        Excelsior says:

        2020 American Silver Eagle Bullion Coins Temporarily Sell Out As Demand for Silver Surges

        by Mike Unser – March 13, 2020

        “Inventories of 1-ounce, .999 fine American Silver Eagle bullion coins are temporarily depleted, the United States Mint announced Thursday, March 12.”

        “Sales of the silver coins jumped this week by 1.57 million pieces, boosting their 12-day March total to 2,320,000 pieces — the highest for the month of March since 2016.”

        https://www.coinnews.net/2020/03/13/2020-american-silver-eagle-bullion-coins-temporarily-sell-out/

        • On March 13, 2020 at 5:28 pm,
          OOTB Jerry says:

          Most of those are overpriced………..the nice thing about Eagles, if, you have some old ones that are MS 70s
          Example…..
          1987………..$1150
          1988……….. $1150
          1989………..$2400
          1990……….. $6500
          1991………..$3500…
          1992………..$2500
          1993………..$6000
          1994………..$9000
          1999…………$13,000…….

          • On March 13, 2020 at 5:30 pm,
            OOTB Jerry says:

            Graded and slabbed PCGS……..MS 70. as of today…

          • On March 13, 2020 at 5:32 pm,
            OOTB Jerry says:

            Good things come to those who wait………… 🙂

          • On March 13, 2020 at 5:33 pm,
            Excelsior says:

            Very nice OOTB. I used to be a collector of coins, but now I’m a collector of ounces locked in the ground. I still appreciate graded coins and rare coins, but am out of the loop as far as the prices. Those are much higher than what I remember. Gadzooks!

          • On March 13, 2020 at 5:37 pm,
            OOTB Jerry says:

            Me too………..I have both………being an old fart………I love coin collecting..
            very profitable if, you know what you are doing…….

          • On March 13, 2020 at 5:40 pm,
            OOTB Jerry says:

            The list above is from today at the PCGS site……….I keep it near and consult it daily to weekly…….Never sell , or buy, unless I consult PCGS…..supply and demand……

          • On March 13, 2020 at 5:47 pm,
            Excelsior says:

            Thanks OOTB. That’s a good recommendation for PCGS, and if I got back into it, I’d mostly buy the graded coins.

          • On March 13, 2020 at 5:51 pm,
            OOTB Jerry says:

            Ditto……..buy grade only ….because there are a lot of FAKES out there.,,,,if, you ever need any help…..just ask…..

          • On March 13, 2020 at 5:52 pm,
            OOTB Jerry says:

            graded…and slabbed………not grade…..

  17. On March 13, 2020 at 1:04 pm,
    Matthew says:

    It seems like we just had a capitulation low. I finished down just 3.93% today (6% yesterday) which is surprising considering the pounding the ETFs took.

    • On March 13, 2020 at 1:13 pm,
      Gerald says:

      Perhaps. But look what GDX just did vs the Dow into the close–gave back a years worth of gains in a day! They are forcing people into US stocks.

    • On March 13, 2020 at 3:27 pm,
      Excelsior says:

      My entire resource portfolio actually finished up today 1.5% but that was because the Uranium and Lithium stocks were peppy.

      I haven’t done the calculations yet on the PM stocks in a spreadsheet by themselves but at first glance I was down around 5% in just the Gold & Silver stocks, and that is better than I was expecting, and a number of them ended in the green today, which was quite refreshing for a change. It seems like value hunters came in mid day and started buying into the close in many stocks.

  18. On March 13, 2020 at 1:12 pm,
    RICHARD/DOC says:

    Purchased (nibbled) some gold and silver stocks today. Great opportunities coming up.

    • On March 13, 2020 at 3:31 pm,
      Excelsior says:

      I injected more cash into my trading account today, to add to my positions in (SILV) Silvercrest, (SVM) Silvercorp, (MUX) McEwen, (MMX) Maverix, and (AXU) Alexco .

      • On March 13, 2020 at 3:39 pm,
        RICHARD/DOC says:

        Ex, good for you. I think AXU has a little further to fall. Those who purchase in the next few weeks will not regret it in 2 years.

        • On March 13, 2020 at 3:46 pm,
          RICHARD/DOC says:

          I don’t own SILV or SVM but now I get a chance. From the technicals I believe SVM will bottom before SILV. From the long tern charts, it appears that SILV might get inordinately whacked.

        • On March 13, 2020 at 5:43 pm,
          Excelsior says:

          Thanks Doc. I don’t think I’ll regret adding more AXU here in 2 years either. 😉

          As for SILV Silvercrest – It’s the best Tier 1 Silver Explorer Development story to have hit the space since MAG Silver. I made a lot of money with the Silvercrest team in their last incarnation, when they were taken over by First Majestic for a nice premium. I was in their stock post merger for a while and captured some gains a few years back, but missed most of their rise, and am using this chaos to get positioned once again.

          This time, I believe SSR Mining has their sites set on SILV, but they announced a capital raise right before all the market madness began, that will likely need to be reworked and thus it’s getting wacked. However, I’m quite prepared to average down into a larger position, because more than any other Silver company, they’ve really consistently nailed truly bonanza grade Silver drill hits, over and over again. This is why they have such good economics on their development project and fantastic upside surprises in their exploration potential.

          As for SVM Silvercorp – They are hands down the lowest cost Silver/Zinc/Lead producer on the planet, and have produced excellent revenues and free cash flows quarter after quarter. Yes they are in China, so the Coronavirus fears hit them before many other companies, but the spread in China is slowing down, but their production is chugging right along. They had a minor set back at one of their mines this last quarter, which may damper things a bit, but they are still a cash cow. In addition SVM owns more than 1/4 of NUAG New Pacific Metals (and helped seed them, and moved some staff members over to get it launched), and while I’m bit unsure of Bolivia, NUAG has been knocking it out of the park with their Silver exploration results as well. I would not be surprised to see Silvercorp buy out New Pacific with their warchest in the not so distant future.

          Ever Upward!

          • On March 14, 2020 at 6:31 am,
            Excelsior says:

            While these are narrow intercepts on the SILV presser from March, they are truly bonanza grade hits, and they’ve had repeated successes like this over and over again.
            ___________________________________________________________________________

            (SILV) (SIL) SilverCrest Announces Significant Babi Vista Vein High-Grade Expansion

            @newsfile on 9 Mar 2020

            2.1 Metres est. true width at 12,740 gpt AgEq

            1.1 Metres est. true width at 13,022 gpt AgEq

            1.6 Metres est. true width at 5,831 gpt AgEq

            https://ceo.ca/@newsfile/silvercrest-announces-significant-babi-vista-vein-high-grade-0674c

          • On March 14, 2020 at 6:32 am,
            Excelsior says:

            (SVM) Silvercorp Metals – Corporate Presentation Feb 2020:

            http://silvercorpmetals.com/_resources/presentations/corporate-presentation.pdf

          • On March 14, 2020 at 6:48 am,
            Excelsior says:

            In particular, check out the SVM corporate presentation on pages 15 + 16 on how much better their metrics are than the other larger Silver producers, and how much lower their valuation still is in comparison.

  19. On March 13, 2020 at 2:11 pm,
    buzz says:

    Ditto. If you have some positions you can play whack a mole

    • On March 13, 2020 at 2:19 pm,
      OOTB Jerry says:

      Way to much work……….

  20. On March 13, 2020 at 2:12 pm,
    Gerald says:

    Does anyone realistically think GDX can form a swing low off of this week’s low? Odds are about 99% that GDX will make a lower low eventually, although we may bull flag with a week or two or three, which could even convince people a bottom is in, similar to what happened before in October-September 2016.

    • On March 13, 2020 at 4:35 pm,
      buzz says:

      Bringing out more dead: JNUG down 66% today

  21. On March 13, 2020 at 9:00 pm,
    Excelsior says:

    EB Tucker: When Gold Hits US$1,900 Everyone Will Wake Up

    Investing News Network – Mar 11, 2020 #VIDEO

    “Gold’s recent price activity has attracted some attention, but according to EB Tucker it’s the US$1,900 per ounce mark that will bring the metal widespread recognition. #PDAC2020 #Gold #Silver”

    “US$1,900 wakes everyone up and then they say, ‘Wait a minute, gold is actually rising in this climate. Everything else is in trouble, so we need to own some gold — what do we do?'”

    https://www.youtube.com/watch?v=PYaYnxIR7Fk