Who appointed this guy Chief A$$HoLe?
Gold futures saw a massive $1.5 billion liquidation in one minute yesterday which had all the hallmarks of a "non profit" liquidation - a large seller trying to manipulate gold futures lower rather than maximise profits.
With the UK Brexit vote, we’ve witnessed the first major blow to the survival of the EU.
Hugh Hendry moments worth reviewing every now and then, especially in today's boring market.
Just renamed my pet turtles Hugh and Nigel.
I waited all day and night to watch this but it is a shear pleasure to watch and a shocking reminder of how many people who don't know what the fock their talking about act so smug and self confident while they promulgate pure bullshit perspective. I see it all the time.
At Thanksgiving dinner previous to last, i grumbled about the bank bailouts and someone who does not know shit said "what do you think they should have let them fail" I mumbled something like yes in the Jimmy Rogers fashion. I wish I were more like Hugh Hendry and get right in their face instead.
Enjoyed the takedown of Stiglitz.
Listening to the truth is so enjoyable and refreshing. The scorn in champagne socialist is so well earned.
All is in contraction. All is in varied forms of racketry.
No true or sound money exists. IOUs abound which rely on rolls.
Spreadsheets, balancesheets, Prospecti have been FASB'd.
Free market principles have finally been blacked out.
Nothing remains. Only enforcers, handicaps, retirees, insurers, brokers, factorers, skimmers, and ilk.
Fiat, Ponzi, Fractionalization has gone global. No pockets of real endeavour seem to remain.
Silly tickertapes, silly prognosticators, silly occupiers of a rotten capstone.
Promises, bonds, IOUs, expectations, annuities, dividends, etc.
Poof! Vanish! Since their underlying base is fully rotten and rotted.
Timing is the only element not yet revealed.
All the bankruptcy is well understood, but not its declaration.
I hope this vid includes:
"Socialism is a great thing for George,"
"But I want to bring George down. I want George's reputation. Now, Geroge is now embracing socialism. Socialism is when you build a moat around the castle. I'm spending all of my time trying to decide where I'm going to live because taxes are so high in this country and less of my time trying to figure out how to surpass Soros and his reputation."
He's a great entertainer. If only he were as great a trader...
A trader knows more about the market than an economist. Hendry just buried Stiglitz.
Well said. Economists flat out do not understand the business cycle.
This is the kinda guy you just grab by the shoulders and give a big kiss.
don't step on my blue suede shoes in Japan... jailhouse rock in China...If you're looking for trouble...lets twist again in Greece! Oldies but goodies...is ths guy now a total hasbeen for ZH to write his nostalgic obituary? Sounds like that! Are HF kings going to lose their crowns? Soros doesn't agree!
I like this guy... although I think these clips have been poorly edited... They show him ripping apart the competition - but none of them give him a chance to build his intellectual arguement.
What you need is to take these clips from 2010 and 2011 and put the same people in a room, play the clips, and have them defend what they said - and their investment returns since they said it.
The other problem I have is more with ZH comments. If Mr Hendry was asked for specific investment advice - and if he said anything other then BUY GOLD AND SILVER, he would be ripped apart by ZH. The case Mr Hendry laid out - the stretch this over 20 years or take our pain in 3 years - is a clear call for deflation - but because these clips don't go through his specific deflationary trades - ZH supports him. If it came out that he was making money by buying CDS vs this bond and shorting the other currency etc... another part of the ZH community would jump on him for being a "bankster" or theif (like they do Romney).
Lots of different types of people on ZH - so you have to expect a lot of different oppinions - but it seems the only way to get support from everyone is to say "F the System" while stopping short of suggesting a way to fix it - OR GOD FORBID PROFIT FROM IT!
I think there may be some confusion here. Most PM bugs expect a deflation period. What follows is however high inflation.
The only question is how much deflation can the people tolerate and how much can the system manage. My guess is not alot and we will probably be in inflation mode from 2013 and forward, if the system allows it.
In order to "allow" inflation, you have to assume that one can control the economy. I choose not to believe that or markets would just track a straight line.
No runaway commodity inflation until it deflates first
Well made, well madeand I know thy true lovewell made, well made, said heI'm just returning from the salt, salt seaand it's all for the love of thee.This limed stone home knows no other,heaped up by deep care for another.
go 'way, go 'waymy once belovedforgoe a seat with meit's been three-fourthsof a long, long yearsince together we have been?
of course, no, I can't come inand I can't sit downfor I have but a moment's timethey say that you're marriedto a house carpenterand your heart shall never be mine
well I could have marriedthe king's daughter fairshe would have married mebut I forsaked uponher crowns of goldand it's all for the love of thee?
Now will you forsake that man,that house carpenterand go along with me?I'll take you wherethe grass grows greenon the banks of the bitter reeds--(Where your heart on fickle seedmay forever and ever feed).
she pick'd up her wee little babeand kisses, gave it three saying,stay right here my darling little onekeep your papa company.
now they had not beenon the ship two weeksI swear it was not threewhen His true love beganto weep and moanand she wept most bitterly
Well, are you weepingfor your true-built home and hearth, ordo ye weep for its warmth--or feel you fairly sorefor that house carpenterthat you ne'er shall see no more?
A curse on the sailor she sworea curse, a curse she sworeyou robbed me of my sweet little babethat I never shall see no more!What's worse I've forsook man so gud,hewn like none other, found gold he, in mud.ALL GONE. Poor Maid, poorly made!
Well, they had not beenon the ship three weeksI swear it was not fouruntil there came a leak in the shipand she sank, filled wi' rankto rise no more.
Except the LORD build the house, they labour in vain that build it.
Forsake soundness, forsake square, plumb, level and all trueness in all your constructions.
How long will absconscion from true principles endure?
I swear it was not FOUR
Like verbal napalm dropped on pompous main stream media cocksuckers.
I love the smell of burning banksters in the morning.
Reminds me of victory.
Top Man! His recent reticence is a loss to all right thinking people.
Thatcher would have loved this guy. I bet few of his employees are late to work, either scared to death of what he'll say or what they will miss.
I doubt Hugh's a tyrant...
he's scarier than that...
He's an honest (free) Scotsman.
Fuck Stiglitz and fuck Jeff Sacks. Establishment pile of shit.
Henry also said China is a big pile of shit.
Any US citizen received there GM shares in the mail yet??? I am still looking for mine. I lived in Detroit for 4 years in the early 80's and already then we should have had a war with Canada and just given them Wayne County but they would give it back. Detroit at one time in the 50's and 60's was the jewel of manufacturing and productivity. Now look. Look for many more NW rust belt cities to become the same in the next 10 years. Hope and change. I got the change part already. Let me know when those shares show up in your mail box. Sarc on
The problem is GM has 800 million Chinese car buyers that don't in America.
It's like wathcing these idiots stepping in front of a hurtling freight train .. hamburger flying in all directions. Amazing! However, the extreme discomfort of the other guests shows how unexpected anything resembling the truth is for these guys.
Of course, even Hugh's investors and staff had to shut him up ... too many enemies is bad for your economic health in the hedge fund business. Ask Jim Cramer.
Hugh provides highly prescient insight.
in an eloquent but plain talking package
I hope Hugh Hendry makes a mint in the next few years. He's been a breathe of fresh air everytime he's on the air.
If I remember correctly, the only thing he's long are U.S. Tresauries.
The real test will be if he gets out of those in time and into the phyzz...
I love him. His one of my teachers. But he's also what's wrong with the system. When gold and silver are money Hugh Hendry becomes obsolete. He should then write a philosophy book which I would be honored to read.
He's part of the system, but not what's wrong with it. One of his other great quotes is "I want to short people like me."
Even if (when?) gold and silver are money there will still be abstruse arbitrage opportunities, and guys like Hendry will be there to see and exploit them.
Which is fine.
No prisoners. The man does not suffer fools gladly.
I f Hugh Hendry fucks up, not eeven big time, he is toast. He has to turn a profit.
If his naysayers fuck up, really, really big time, they just carry on regardless. They can't even spell profit.
All they've got is Keynsian theory, and it doesn't work.
Get a proper job, a practical job, if you've got any skills that some fool is willing to pay for.
It's time they took some personal resposibilty for their inane blatherings--FAT CHANCE OF THAT
Aw! It didn't include my favorite.
"I suggest you panic."
Just read Marketwatch's headlines, fucking amazing "Buy this dip!". The shit never changes. They laughed at Peter Schiff and of course in their pea brains, he is now wrong again because the stock market is BACK. They conveniently grab onto any bubble that exists and point out the positives, over and over and over until the real washout comes and their wives get robbed at gunpoint, then their attitudes will change.
I wonder if Jim Cramer is the new editor of Marketwatch.com ?!
"I fly business class, and I run into these champagne socialists..."
"I fly business class, and I run into these champagne socialists..."
It's a great saying, especially since the US is run by champagne fascists.
I bet Hugh would be a great guy to watch a gamre of football at the pub with. He'd fancy a bet.
I was changing flights one day in Tokyo on my way back to the states. I counted 8 guys from GM in Business Class with the $8K tickets. Meanwhile I, while bailing their sorry worthless asses out, was flying economy. I have a 7 figure net worth because I am prudent about my decisions. Ojackoff wants to raise my taxes to subsidize pricks like the above mentioned GM worthless fucks.
Sell all your paper assets, sell all your unused shit, mortgage everything to the hilt (if in a non-recourse state otherwise sell your house), rent a house/buy a small plot of land and drop a trailer on it, stock up on food, clothes, medicine, booze, guns, ammo, gold, silver, nickles, etc. and put all your future excess capital into metals and non-discretionary things.
Then start looking into expatriating. Not as hard as you might think.
Fuck 'em. I ain't playing no more.
...And TO YOU FUCKWITS JUNKING ME, IF YOU HAVE A BETTER IDEA, I'M ALL EARS YOU COCKSUCKING MOTHERFUCKERS
every time i hear that blowhard jeffrey sachs the end of my fist gets all itchy like...
He's the financial version of Nigel Farange.
That's a tall compliment there Mr. Hendry.
At least get the name correct - it's Nigel FARAGE.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.