Guest Post: Investment Legends - “Dollar Collapse Inevitable”

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Wed, 03/23/2011 - 15:40 | 1091748 SwingForce
SwingForce's picture

Where's the Portugal vote? They're late!

Wed, 03/23/2011 - 16:06 | 1091880 Turd Ferguson
Turd Ferguson's picture

Just trying to make money for as many as possible:

Wed, 03/23/2011 - 16:53 | 1092177 Gene Parmesan
Gene Parmesan's picture

And for that we thank you. Well, that and being able to tell people that "The Turd" is saying this or that, and I'm listening.

Wed, 03/23/2011 - 17:49 | 1092461 gmrpeabody
gmrpeabody's picture

Don't be cheesy.

Wed, 03/23/2011 - 19:09 | 1092683 dlmaniac
dlmaniac's picture

Why the heck was Jeffrey Christian invited? He's that banker shill at the CFTC hearing letting his lips slip and revealing there's 100 to 1 paper to physical trading, ain't he?

Wed, 03/23/2011 - 19:32 | 1092754 Bendromeda Strain
Bendromeda Strain's picture

Same thing I said - "one of these things is not like the other"

Plus that, the company boy started off with the company line straightaway...

Thu, 03/24/2011 - 05:12 | 1094207 Harlequin001
Harlequin001's picture

Better late than never, knew they'd see sense eventually.

Thu, 03/24/2011 - 22:03 | 1097945 spudboy
spudboy's picture


Wed, 03/23/2011 - 19:33 | 1092764 Bendromeda Strain
Bendromeda Strain's picture

Cheesy concerning the Turd? Sounds binding...

Thu, 03/24/2011 - 01:49 | 1093999 TruthInSunshine
TruthInSunshine's picture

I've gone 'Taleb' as of tonight.

Time for the cheap deep OTM puts, IMO, and yes, I'm calling out Bernanke for being incompetent and less than the magician (much more like the charlatan) some claim he is, as I did in 2007, where I made enough money to expand my horizons.

And yes, I'm also doing what I'm saying.

Bernanke's fucked, he was going to be fucked anyways *after fucking America and the world*, but Japan was the swan that shat on him, and accelerated his demise.

Look for NerObama to throw Bernanke out to the wolves soon, in a vicious display as to how ugly politics can really get. And the excuse NerObama will use is -


-- Bernanke stated he would not support bailing out states, counties and cities.

Every once in a while, I get a good thesis going, and sometimes, they even pan out.


p.s. - You technical/pattern guys and chartists - give me an overlay of 2007/2008 before the crash happened and the last 2 or 3 months. Thanks.

Wed, 03/23/2011 - 20:42 | 1092960 oklaboy
oklaboy's picture

Turd, love your writing, and site. Great advice, and well done.

Thu, 03/24/2011 - 01:12 | 1093908 TruthInSunshine
TruthInSunshine's picture

Cramer said NFLX is a double from here yesterday.

The last time he called for a double in a monster run up tech space company was Google in 2006 and we know how that ended.

By the way, it's time for a refresher of his epic call in 2000 on the only companies you needed to buy because "most of these companies don't even have earnings per share, so we won't have to be constrained by that methodology for quarters to come!"

The Winners of the New World

By Jim Cramer 02/29/00 - 09:42 AM EST

You want winners? You want me to put my Cramer Berkowitz hedge fund hat on and just discuss what my fund is buying today to try to make money tomorrow and the next day and the next? You want my top 10 stocks for who is going to make it in the New World? You know what? I am going to give them to you. Right here. Right now. OK. Here goes. Write them down -- no handouts here!:


724 Solutions (SVNX), Ariba (ARBA_), Digital Island (ISLD), Exodus (EXDS), (INSP_), Inktomi (INKT), Mercury Interactive (MERQ), Sonera (SNRA), VeriSign (VRSN_) and Veritas Software (VRTS_).


We are buying some of every one of these this morning as I give this speech. We buy them every day, particularly if they are down, which, no surprise given what they do, is very rare. And we will keep doing so until this period is over -- and it is very far from ending. Heck, people are just learning these stories on Wall Street, and the more they come to learn, the more they love and own! Most of these companies don't even have earnings per share, so we won't have to be constrained by that methodology for quarters to come.


Wed, 03/23/2011 - 15:42 | 1091750 plocequ1
plocequ1's picture

Thank you guest. Buy Netflix

Wed, 03/23/2011 - 15:44 | 1091768 SheepDog-One
SheepDog-One's picture

Buy Netflix, their 12 hour meltdown offline status last nite makes no difference. Final insane euphoria as Bens 'cntrl/print' fat fingers keys the worthless toilet paper stocks higher as the currency swan-songs. WHATEVER!

Wed, 03/23/2011 - 16:27 | 1092024 Pladizow
Pladizow's picture

Yeah buy NetFlix!

Along with CMGI, Juniper and Akamai?

Wed, 03/23/2011 - 15:45 | 1091766 hugovanderbubble
hugovanderbubble's picture

Its better to hold USD than Yens or Euros or Polish Zloties....

The big problem is which fiat currency will be the last one to survive.


My humble bet USDollar.

Wed, 03/23/2011 - 15:48 | 1091793 cahadjis
cahadjis's picture

 agree, see my comment below. A contrarian view.

Wed, 03/23/2011 - 15:53 | 1091808 Michael
Michael's picture

The complete and total economic collapse of the USA is a mathematical certainty. The day of reckoning is fast approaching and President Obama has done nothing to prepare the nation for seven lean years. Thank God I don't have any kids to take care of, I'm sorry for the ones who do.

Wed, 03/23/2011 - 17:10 | 1092282 dearth vader
dearth vader's picture

Don't feel sorry, Michael, into the future they'll have kids to take care of them.

Wed, 03/23/2011 - 16:04 | 1091864 monkeys.pick.bottoms
monkeys.pick.bottoms's picture

I disagree about the Polish Zloty. I own a few in silver. All are legal tender (not that I would want to spend them, of course - there is some kind of law for that:D). I recommend. Not fine but sterling... still you get 20 units of account in one silver coin for a paper 100.

Wed, 03/23/2011 - 16:21 | 1091994 I think I need ...
I think I need to buy a gun's picture

everyone over here is doom and gloom......everyone on my wifes facebook are planning disney vacations? who is right?

Wed, 03/23/2011 - 17:23 | 1092342 gmrpeabody
gmrpeabody's picture

Well, if you have to ask..., then be sure to give Mickey and the gang my best.

Wed, 03/23/2011 - 18:09 | 1092528 Bloodgroove
Bloodgroove's picture

Now that's funny!

Wed, 03/23/2011 - 17:38 | 1092418 Doña K
Doña K's picture

Buddist philosopher says; "They are both right."

Observer says; But Sir, both can not be right.

Buddist philosopher says; You are also right.

Lesson: Zero headers are right because they have perception and knowledge. All others are also right because they lack perception and knowledge.

Wed, 03/23/2011 - 17:44 | 1092441 Oracle of Kypseli
Oracle of Kypseli's picture

Another good one from a zerohedger, I think it was Tyler, goes something like this:

The house is burning and the family is arguing on how to renovate the kitchen.

Wed, 03/23/2011 - 22:52 | 1093370 dark pools of soros
dark pools of soros's picture

which is great for the economy..  hopefully they'll have to redo the deck and reseed the lawn too.  very bullish

Wed, 03/23/2011 - 17:55 | 1092473 andybev01
andybev01's picture

Do they still use that fiat, Mickey Money?...

Thu, 03/24/2011 - 05:18 | 1094212 Harlequin001
Harlequin001's picture

Only at the Fed. In Disneyland they want hard cash...

Wed, 03/23/2011 - 20:44 | 1092968 oklaboy
oklaboy's picture

paying cash or credit?

Wed, 03/23/2011 - 15:46 | 1091767 MarkTwainsMustache
MarkTwainsMustache's picture

One investment 'legend' (Jim Rogers) in the'll need Wikipedia to find out who the other people are.  False advertising. 

Wed, 03/23/2011 - 15:49 | 1091790 Cash_is_Trash
Cash_is_Trash's picture

Peter Schiff dude, he called the housing crisis.

Wed, 03/23/2011 - 15:48 | 1091795 MarkTwainsMustache
MarkTwainsMustache's picture

I like Peter Schiff I just wouldn't call him an 'Investment Legend'

Wed, 03/23/2011 - 15:54 | 1091817 tickhound
tickhound's picture

Schiff will likely achieve that "status" after they wack him out.

Thu, 03/24/2011 - 05:20 | 1094213 Harlequin001
Harlequin001's picture

Soros was the brains behind the outfit, if I remember correctly.

Wed, 03/23/2011 - 20:40 | 1092954 lincolnsteffens
lincolnsteffens's picture

I am not nor will I ever be an investment legend. All you have to do is have personal experience ( me ) or read a bit about financial events and the cause. I was in a panic to sell in 2006 before the market imploded. Was I early, yeah but am I early in nat. gas for picking up some a year ago? Am I early with DXD, SKF, SRS?  Prices go up, volume goes down. Watch, listen, read and chances are sooner or later you will start to understand. NEVER THINK YOU ARE SMARTER THAN THE MARKET and never give up!

Thu, 03/24/2011 - 05:20 | 1094216 Harlequin001
Harlequin001's picture

You're an investment legend if you stand up and spout a lot on TV.

That's about it...

Wed, 03/23/2011 - 15:51 | 1091803 DavidC
DavidC's picture

If you don't know the others, do some background reading. I've been following Bonner (as well as Rogers) since the early 2000s, Williams and Schiff since 2007.

Don't just dismiss people because YOU haven't heard of them.


Wed, 03/23/2011 - 16:36 | 1092092 pasttense
pasttense's picture

Since you have followed them for years, did it result in you getting rich?

Wed, 03/23/2011 - 17:24 | 1092358 gmrpeabody
gmrpeabody's picture

Well..., a little richer probably.

Wed, 03/23/2011 - 20:23 | 1092911 Thomas
Thomas's picture

Curiously, Rogers, the guru, was the last to join the precious metals party. I would argue Bonner and Schiff helped me get pretty damned well off. Rich? Time will tell.

Thu, 03/24/2011 - 05:22 | 1094218 Harlequin001
Harlequin001's picture

He's still banging on about Renminbi isn't he?

Wed, 03/23/2011 - 15:54 | 1091816 Biggvs
Biggvs's picture

True dat, though I did recognize the first three names... all gold lovers of course. Not that I have anything against gold (I went long in the 600's), but really no need to read any further, as the conclusions should be obvious when you see a quote like:

"BIG GOLD asked..."

Wed, 03/23/2011 - 16:19 | 1091983 Lets_Eat_Ben
Lets_Eat_Ben's picture

speak for yourself sam's stache

Wed, 03/23/2011 - 16:44 | 1092132 Snidley Whipsnae
Snidley Whipsnae's picture

You don't know that Bill Bonner called for a gold bull market in 2000?

Sit down, be quiet.

Wed, 03/23/2011 - 17:28 | 1092383 Maos Dog
Maos Dog's picture

Bonners recommended "trade of the decade" in 2000 was gold.

Wed, 03/23/2011 - 17:53 | 1092468 gmrpeabody
gmrpeabody's picture

You are correct, sir.

Wed, 03/23/2011 - 20:32 | 1092928 DosZap
DosZap's picture

Only one person on the list I have not read, nor heard of.

Wed, 03/23/2011 - 15:46 | 1091774 TruthInSunshine
TruthInSunshine's picture

Jeffrey Christian...

...odd man out.

What was he doing there? He sounded like an Obama Economic Advisor being interviewed by Steve LIESman on CNBC.

Wed, 03/23/2011 - 16:12 | 1091920 reachsb
reachsb's picture

Agreed. The poor guy's reputation has been shredded since his March 2010 testimony in front of the CFTC about the leverage in Precious metals paper market. SGTBULL mentions this poor bloke in almost all of his videos on his youtube channel.

Wed, 03/23/2011 - 16:33 | 1092081 Lets_Eat_Ben
Lets_Eat_Ben's picture

yeah, towards the end of the thread i skipped his answers. Jeffrey Christian is EE in my eyes

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