Grant Williams: "Do The Math!"

Tyler Durden's picture

In a masterclass of what is 'really' going on in the world (as opposed to what we are told/spoon-fed on a daily basis), Grant Williams (of Things That Make You Go Hhhmm infamy) provides a must-watch presentation. Starting from the premise (unusual in this day and age) that the laws of mathematics are inviolable ("if it makes no sense, it is nonsense"), the Aussie investment manager sets out his own set of philosophical 'problems' that the world of 'markets' seems incapable of grasping. In a chart-filled extravaganza, Williams ranges from "Problem 1: If the global economy is stalling, Europe is in recession, China is slowing and growth is seemingly impossible to generate, what are equity markets doing at all-time highs?" to "Problem 7: The Gold Price and The Price of Gold are mutually exclusive" leaving the participant questioning everything Bob Pisani would have us believe warning in conclusion that gold is critical and "beware suppressed volatility."

07:26 Williams' Problem 1: If the global economy is stalling, Europe is in recession, China is slowing and growth is seemingly impossible to generate, what are equity markets doing at all-time highs?



16:24 Williams' Problem 2: If Chinese manufacturing has stalled, demand for raw materials is slumping, imports and exports are declining, and Chinese power consumption is falling, how is China's GDP growing at 7.7%



20:40 Williams Problem 3: France!?



33:21 Williams' Problem 4: If honesty is the best policy, then is dishonest the second best policy?


33:25 Williams' Problem 5: If there were no sponges living in the oceans, would the oceans be deeper?


33:30 Williams' Problem 6: Paul Krugman? Really?


33:35 Williams' Problem 7: The Gold Price and The Price of Gold are mutually exclusive



36:45 Summary

It's a holiday weekend, grab the iPad (and 2 beers), sit in the lawn-chair and watch/listen - time extremely well spent...

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freewolf7's picture

"If honesty is the best policy,
then is dishonest the second best policy?"

Honesty being the best policy is not
how central bankers think.

Rather, "What could we say
that they would believe us?"

Or, given our current PASSIVE
response to current criminality,
"What could we say that would
not enrage them enough to act?"

kliguy38's picture

Eventually "the point of recognition" is reached in a ponzi.....this will be the crossing of the rubicon for a mass of fiat when the realization that there is no safety in their digital/paper game.....and trillions try and find the last few ounces of gold and silver deliverable......if any of you think your little game in this rigged equity market has been an ascent to this point in time, then you had better have your seatbelts on when the music stops for the fiat ponzi and the search for physical metal begins in earnest

Dark_Horse's picture

Yes, but it's not going to be the "the end".

The implosion will likely be spun to advance to the next stage.

Hegelian dialectic is the map.


fourchan's picture

only the fed buying all the bad assets and putting them on the us taxpayer and giving the culprit banks free cash to buy the market matters.

macholatte's picture



Why do they always have such crappy sound?

If they talk real fast, does that mean they're smart or just a crappy speaker?

If they talk real fast and have crappy sound does that mean the presentation is jibberish?


You know there is a problem with the education system when you realize that out of the 3 R's only one begins with an R.

Dennis Miller

espirit's picture

$85 Billion + $85 Billion + $85 Billion +

$85 Billion + $85 Billion + $85 Billion +

$85 Billion + $85 Billion + $85 Billion +

$85 Billion + $85 Billion + $85 Billion +

ad infinitum...

James_Cole's picture

The answer key for Williams' "problems" (spoiler):

It's a ponzi. 

Big Slick's picture


Or, given our current PASSIVE
response to current criminality,
"What could we say that would
not enrage them enough to act?"

That may have been brilliant.  Too busy watching Dancing with the Stars to know for sure.

Deo vindice's picture

I was taught that honesy is not the BEST policy.

It is the ONLY policy.

If honesty is merely the 'best' policy, then the door is open to the whole range of situational ethics, which is precisely what our government and banking leaders are guided by.

Boris Alatovkrap's picture

Graph is show bifurcation. Bifurcation beyond all recognition as old marine is say.

ebworthen's picture

"Readin', 'Ritin', 'Rithmetic"

Watch'a talkin' 'bout?

Seer's picture

"The implosion will likely be spun to advance to the next stage."


Everything comes after something.

If you're indirectly implying that there will be a next up-leg then you (and others thinking the same) will be in for a surprise.  Without growth there can be no leveraging.  And without leveraging there's really no way to sway/prod/push people around so as to profit off of them.

Further, the reversal to be wrought by economies-of-scale-in-reverse will devastate much of the platform that would be expected to allow stepping up higher.

"Men argue, nature acts." - Voltaire

"Whether we and our politicians know it or not, Nature is party to all our deals and decisions, and she has more votes, a longer memory, and a sterner sense of justice than we do." - Wendell Berry

prains's picture

Why is Tyler vapourizing comments ???

non rascist, factually correct, non libel comments are now being corozined on ZH....without notice or comment, they just vanish. I just lost one this weekend on the Bill Black article....poof, gone nowhere to be seen.

all the comment made was a correlation to Anderson Acoounting, Ken Lay and Enron being examples of what Black was talking about.......ZAP

gmrpeabody's picture

I've asked Tyler to "retire" a few of the posters that I personally find reprehensible...

francis_sawyer's picture



Maybe you inadvertently said something about 'Bangladeshi's' [who are roughly 2% of the worlds population]...

You see... From now forward... Every comment that everyone makes is subject to inspection by the PRE-CRIME unit of the thought police... Very soon ~ francis_sawyer may be retired for something that he might possibly be thinking... Dog forbid if I ever accidentally misspell a word or anything...

kaiserhoff's picture


   The Mormons are under 2% of the US population, as are...

   I smell some great polygamy jokes, and there's always the Angel Moroni.  We could work with that;)

ebworthen's picture

I hear a trumpet!


Cathartes Aura's picture

dudes, play it out!  it's a juicy space to shine the spotlight on, particularly if 'they' are aiming for office(s) - bad enough they use their precious god-money-tithes to sway voting issues, then lie about it, only to be outed later.

let me give ya a push - Masonic symbols in their temples, also in the temple ceremonies, and special garments for the worthy.

and of course, there's the new Utah data center, set up in the state with over 20% of their people on anti-depressants,

Utah has long been the nation’s capital of happy pill popping, with its citizens twice as likely to be on anti-depressants than the general U.S. population.

perfect storm, hmm. . .

((don't ban me bro!))

Miffed Microbiologist's picture

You forgot to mention that the majority of the pill poppers are women. Seems to me those religious leaders prefer their women to be of the docile " Stepford wife" mentality rather than fiery free thinkers. Simply being uteri with legs must be a bit stressful. It appears America thinks everything can be solved with pills.


PhilofOz's picture

Francis, I thought you had already been lost to ZH for your enlighening politically incorrect comments. Have you just been reigned in instead?  Maybe some think whispering and likely distorting truthes amongst each other is better than open debate. I think time will put pay to that notion.

prains's picture


what i find interesting is the corozining of comments that aren't false and aren't libel..... anderson accounting no longer exists. ken lay is in prison and enron is bankrupt, what the fuk is wrong with that comment??? Their actions have all been proven in a court of law.

ZH thought police at least need to clarify


Has it come down to saying Ken Flay, Fanderson Accounting and Fenron ?

tip e. canoe's picture

i personally find posters who call authorities to "retire" other posters they personally find "reprehensible" reprehensible.

does that mean i have a right & responsibilty to ask you to "retire"?

serious question.

kaiserhoff's picture

Right on.  It means we should all flag that gay dude;)

nmewn's picture

"i personally find posters who call authorities to "retire" other posters they personally find "reprehensible" reprehensible."

Plus another, I'm number fifteen.

Pool Shark's picture



"The posters who were responsible for having the other posters sacked, have been sacked."

s/ The Management


nmewn's picture

Now wouldn't that be a

Commenters turning in other commenters, only to have their commenting privileges revoked.

A grand scheme of the Tyler's to ferret out the subversives within...why spend time looking for them, just have freedoms enemies come to you ;-)

Clever Name's picture

Hey Newman, see something, say something!



Big Slick's picture

To paraphrase Janet Nepolitano, "The Zerohedge informant system worked." 

lynnybee's picture

'I've asked Tyler to "retire" a few of the posters that I personally find reprehensible.'   oh, god, i hope that doesn't mean me.   'Reprehensible" is my middle name.   when a person gets as old as i am, we blurt out all sorts of thoughts ..... MOSTLY TRUE ! 

Bay of Pigs's picture

Well, I got run out of Turdville (TFMR) after being one of the staunchest goldbugs on the site, so you never know.

Why Lennon Hendrix got booted off ZH is still a mystery to me. 

ebworthen's picture

I've said some rather bombastic things but never noticed a comment deleted.

Perhaps it's because I'm bombastic ;-)

i-dog's picture

I had one deleted a week ago that was [tastelessly] critical of Alex Jones. Go figure!!

BoNeSxxx's picture

Do you KNOW that LH got booted?  Or are you speculating due to a drop-off in posts?

I haven't seen Trav on here in ages (although that one doesn't surprise me)... 

Who else is MIA?

Bay of Pigs's picture

Yes, I do know because I talked to him on the phone a few weeks ago. He's a friend of mine and I even had beers and shots of whiskey with him last summer in Portland, OR. 


BoNeSxxx's picture

That blows. He and I had some great conversations on here and I never recall him coloring outside of the lines.

If you are in contact with him, ask him to reach out. My username @

Thanks Bay.

Pool Shark's picture



Here today; gone to Maui...


[Don't Ban me Bro!!!]

tmosley's picture

I just don't understand how you guys can get banned while I continue to be free to post.  I'm one of the more if not the most abrasive non-anti-PM trolls at Turd's site, but I've never even been asked to tone it down by PM or given a temporary ban.  Much the same goes for here, though I don't post as much here any more.

Cathartes Aura's picture

wasn't the tale more about clubby "speak-easy" zones off the main page, and massive indignant sulks re: Ivars being "allowed" to post his charts & opinions, aka "Troll Patrol"?  with Christy-PirateLady regularly throwing tantrums, and others "supporting" her?

yeah, I think that's how the story went. . .


tmosley's picture

Come to think of it, I think that is what happened.  

Though the point remains, as I pointed out that the mad mod lady was out of control and called for her to be fired or disappear from the comments on more than one occasion.  That said, I didn't get into a direct argument with her, so maybe that is the difference.

Cathartes Aura's picture

aye, that was another branch on the tree felled, the mod-people. . . the Xty stuff pre-dated that, from the beginning of Ivars posting in the main thread, much whining & wailing to "take it to a forum!!" and leave the main thread free for the serious competition spam for "first place" in hat tips - it was pretty juvenile, and it was allowed to go on way too long, pure high skool cliques revisited. . . that Ivars eventually started showing up well placed in the hat tips was entertaining. . .

but not entertaining enough to check in regularly.

Bay of Pigs's picture

I am now apologizing to you for correcting me about TFMR. You were right, I was wrong. Yes, the Mod's were ridiculously bad over there. 

And Ivars didn't know shit about gold or silver, but that's another story.


Cathartes Aura's picture

not so sure what you're crediting me for "correcting" - but no worries?

the whole gig at TFMR fell apart pretty quickly once he moved from the original blog-space - in my opinion of course - too many people competing for attention off topic, that "hat tip" system just encouraged a lot of "factions" which ended up with music vids, cartoons, yadda yadda. . . the mods we are in agreement about.

lol re: Ivars - he's a physicist who was using theory to create his own charts, trying to see patterns & methods based on his own training, not based in a controlled criminal market. . . you have to admit, he was mercilessly hounded by madam for no other reason than attempts to control the threads. . . that he was also Latvian(?) with English not his first language also lent to the mis-understandings at times.

BoP - respect, even if we don't always agree.


edit:  was just remembering, those mods deleted huge swathes of posts sometimes, with no reasoning or explanations, just *poof*  down the memory hole. 


Bay of Pigs's picture know CA, I was actually one of the only people to reach out to Ivars on the FED, COMEX, JPM, etc...and other issues on gold. He didn't know any of that stuff. We agreed to disagree.

Anyhow, I have no hard feelings towards the guy, especially looking back at the wreckage of TFMR and where it is these days. And when I found out that Mod Jane had intercepted my personal emails to Turd, and used them to discredit and insult me, well....that was pretty much it for me. Oh well....keep moving on brother.

Peace and Aloha, 

Cathartes Aura's picture

wow, I had no idea about the intrusion into personal emails- that's wild. . . though believable, given the "authority" the mods were given.  I only looked in on occasion after a lot of my posts got deleted from a forum thread gone sour, even though there was no reason to, they were simply part of the conversation at the time, one that got heated much further along. . .

and yes, Ivars wasn't, shall we say, classically trained in the Fed marketeering - which was kind of why I liked him, he took a lot of guff with grace early on, moved his posts to a forum, and others followed him - some to cause "trouble" and again posts were disappeared - he just seemed like one of those academics who was eager to share his theories / experiments.

you know me, odd ones out always appeal, heh - on that note, say heya to the LennonHendrix, we didn't exchange much, but he was a personality I always read!

be well.

DrkPurpleHaze's picture

The story behind the story is quite interesting, LOL.

Zoltan's picture

Stolen identity... the lowest form of internet life.

Why would you impersonate a respected poster on another site by stealing their name and avatar?  Get a life.

Duney?  MathMan? Mushroom?