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Barry Sternlicht Warns "Everyone Is Holding Cash Because They Know When It Ends It's Gonna Get Ugly"
"The Fed is playing a very dangerous game," Starwood Capital's Barry Sternlicht warns,"and they need to stop." Sternlicht has quadrupled his firm's net worth in this time and, to the incredulity of the CNBC anchors, warns, "this is bad, this is a heroine addiction.. and now they are printing more money than the deficit." The outspoken CEO of the $29 billion fund, noted "all my friends who are money managers.. are much closer to the sell button than they ever were before," adding that "everyone's holding cash," since if they start to get nervous "volatility will come back instantly." Simply put, he concludes, "you know when this ends, it's gonna get ugly."
On Fed QE and investors' heroin addiction:
"they should knock this off. This is bad. This is a heroin addiction. The more you get on it, the worse it's going to get; the more asset values inflate."
Further to Sternlicht's point that "you're gonna hold cash",
A new survey of family offices by Citi finds that the wealthy are cash heavy—meaning they may fall short of the investment returns they're expecting.
Wealthy families have about 39 percent of their assets in cash, according to a recent poll of more than 50 large family office representatives from 20 countries conducted by Citi Private Bank.
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If "everyone" is holding cash... cash will plummet.
Hey, that's a bit unfair. It'll be worth as much as toilet paper.
get some of those new Franklins while they're fresh
I'm not "holding cash" but what I do have is certainly not in the system.
What with zero interest rates and the very real possibility of bail-ins, their is no upside and lots of downside to keeping your savings in a bank.
The last two times I got cash at the bank, every bill was new, with sequential serial numbers. Somebody is printing like crazy...
***Even CASH will be worhtless when this goes down ... and there's no stopping it from going down --->^
"Global Financial Architecture and Economic Systems on Verge of Collapse"http://stateofthenation2012.com/?p=2200
^
Hmm. Hold currency, or hold money. I think I will hold money.
You had better hold both. currency is going to be of very good use for a while as others scramble to sell their money and assets for it.
Then it will become useless as everyone is flooded with currency and no one will be willing to trade money or real assets for it.
It will be about timing.
This.
The system is setting us up for another muppet killing, just as in 2001 and 2008. The retail muppets will get wacked again and the wealthy will be there to buy everything on the cheap.
I'd like to say that this is the one last time they will be allowed to get away with it, but sadly we all know this will not be the last muppet slaying, there are many more to come.
But its time to stop blaming the wealthy. It is the retail muppets own fault for falling for this again and again and again. What is the saying, fool me once shame on you, fool me twice shame on me?
Fool me fifteen times, I'm a slave?
Next time won´t just wipe out the last of the muppets, it will be taking out the Jim Hensons of the world as well.
Best to be out a little early, rather than a little late.
Electronic cash will be worthless in an extended power outage (November 13, 2013, here's looking at you).
Paper cash will have at least SOME barter value, although expect the price of goods to be at least double, if the power is out indefinitely. Of course, the sharper won't accept paper cash at all, for large purchases.
Gresham's Law says if people accept toilet paper as barter, you should keep some toilet paper/fiat on hand, to barter with.
I said this on another forum: We bitch an moan because the government doesnt seem to be prepared for an EMP attack or a CME. OK, thats fine.
But when they actually set up a test to show that they ARE considering the implications, people bitch about it being some false flag bullshit to lead to martial law.
Anyone that believes a country with this much land, this many people, many of whom have lots of guns,and an Army made up of mostly decent kids is going to fall to martial law is not spending much time thinking this thing through.
I am EMP possible? Sure. So isnt a massive solar flare. Its important to consider that in any emergency planning.
Is the same government that launched Obamacare.gov going to pull off the biggest round up since that French king went all Godfather Christening on the Knights Templar? I really rate that as a low, low probability on the "oh shit" scale.
Sometimes a cigar is just a cigar.
An EMP attack, whether from the sun or a nuke set off 50,000 feet up would change things in the US in one second forever. No mutual funds or retirement accounts would matter at that point. Could it happen? Absolutely.
Not that I am a big fan of Gingrich but even he has been writing about it. So much has been written about the possibility of such an attack and who might do it. Little has been done to prepare for such a possibility. The population would go below 10% in a year.
Gingrich suggested that an EMP attack would “throw all of our lives back to an existence equal to that of the Middle Ages.”
“Millions would die in the first week alone,” he wrote in the foreword of the novel released in 2009.
Read more: http://www.politico.com/story/2013/06/electromagnetic-pulse-newt-gingrich-emp-attack-93002.html#ixzz2jnF1qwAE
I'm long long underwear.
"lead to martial law."
Who said it would lead to martial law? I know people have said it would lead to chaos... And order out of chaos is not exactly a new 'strategy'.
Anyone taking odds that IF an EMP or Sunshot occurs that the members of congress will just happen to be in their fully equiped/ stocked bomb shelters, built courtesy of the taxpayers of this country, while the majority starve to death?
Somehow he forgets to mention that all the nuclear power plants would no longer be able to cool their cores and spent fuel pools and would melt down, making the entire planet uninhabitable for humans.
Odds of another Carrington Event happening is 100%...and we are already overdue.
Far worse than the middle ages. simply because so many people NOW wouldn't have clue ONE of what to do with or for anything.
quite scary.
I think I'll order more ammo.
Time to fight.
First things first: Just stop paying, obeying and playing with these criminals. One day you won't be able to pay the banksters and their pol and crat puppets anyways, so quit paying them now. Put it in gold, guns and grub and prepare. Tell them all to get bent. Quit playing their game and being their pawn and beast of burden. This includes all the divisive "issues" they use to divide us.
Next, get ready, as they are coming for us. Your federalized 'local' police force is evidence of this. There will be blood, whose it will be is up to you.
Those responsible for the current condition of the American people must be punished and eliminated from a restored civil and Constitutional society. Those that have committed treason and those that have stolen from the American people need to be purged, unless one can think of a possible productive position for them.
The Constitutional republic should be restored. Just go back to what we had. No need to reinvent the wheel. "Fixes" and modifications can proceed from there.
The Four Rs
Rejection: Quit paying, quit obeying , quit playing
Revolution: It is inevitable, so prepare, as they are.
Retribution: Is there really any place for these sociopaths and criminals in a restored civil and Constitutional society?!
Restoration: Restore the Constitutional republic.
So you still believe Obamacare was supposed to work? Wow.
Good article, Truthseeker2. I liked the embedded cartoon of Obama's Yes we (kick the) can!
However, as does this Zero Hedge article above, it grossly underestimates how OUT-OF-CONTROL the established systems have become, which are trillions times worse than people can understand or rationally deal with anymore. The basic reasons are that the whole social pyramid system is based on FORCE BACKED FRAUDS, that were able to grow exponentially for quite a while. However, those STILL cruise on top of "credible threats" which have actually become utterly irrational. and more insane than can be comprehended.
The global systems are electronic FRAUDS, backed by the FORCE of weapons of mass destruction, which are able to destroy trillions of times more than anything before in human history. The proverbial house of cards was built on a foundation of dishonesty, backed by violence: from gold and silver coins backed by swords and spears, to paper representations of gold and silver, backed by rifles and cannons, to electronic forms of faith-based money, backed by really nothing but weapons of mass destruction. Paradoxes arise from weapons of mass destruction becoming trillions of times more powerful, and therefore, theoretically being able to murder quadrillions of people, in order to back up the gambling with the multiplicity of faith-based currencies, and their derivatives, which also now represent even more ridiculous quadrillions of units, all of which together are orders of magnitude greater than the supposed collateral hypothecated to back them up.
The breakthroughs in basic science and technology have enabled the social pyramid systems of Neolithic Civilization, which were based upon lies backed by violence, by which small groups worked hard to make sure everyone else can be controlled through fear and ignorance, to grow to become trillions of times bigger than ever before in human history. THERE IS NO SANITY WHATSOEVER LEFT IN THE CURRENT SYSTEMS OF BACKING UP FRAUD WITH FORCE! The previous human history of thousands of years of being able to operate organized systems of lies, to run organized robbery, in which their back-up was being able to kill those who would not agree, NO LONGER MAKES ANY SENSE, BECAUSE THE BACK-UP SYSTEMS OF THREATENING TO USE WEAPONS OF MASS DESTRUCTION IS NO LONGER SANE, SINCE NOBODY CAN WIN THE WARS ANYMORE. But nevertheless, we cruise on the established social habits, which were built upon a foundation of being able to back up frauds with force, for thousands of years ... which have been growing at an exponential rate, with recent times revealing what an exponential growth curve of financial frauds, backed by force, looks like, with the numbers intrinsic to the debt slavery being driven to manifestly become debt insanity.
All the while, the same ability to back up being dishonest by being violent has been enabling that social pyramid system to continue to grow bigger and bigger, until its current proportions are so ridiculous, that only apparently absurd cartoons can illustrate what that actually looks like. Therefore, it is not merely the "Global Financial Architecture and Economic Systems on Verge of Collapse." The basic structure of Neolithic Civilization, of being able to successfully back up lies with violence, is on the verge of collapsing. The basic social pyramid systems of slavery were based on being able to credibly threaten "Do what I say, or I will kill you." However, after the development of weapons of mass destruction, that foundation has become "Do what I say, or I will kill almost everyone, probably including myself too."
THEORETICALLY, the way that the philosophy of science manifests through political science and the combined money/murder systems ought to go through profound paradigm shifts. Our human ecology and political economy ought to go through paradigm shifts at least as profound as those which basic sciences did, which made atomic bombs and electronic communications become possible. However, in practice, that is pretty well totally impossible, and therefore, it seems a waste of time to bother to point that out, since the vast majority of people will continue to deliberately ignore that point of view, while those benefiting from the established systems will continue to double down on their established systems of force backed frauds, despite those becoming exponentially more insane every day. Therefore, I usually find that it merely tickles my increasingly macabre sense of humour to watch little videos like the one above, where someone who has a claim over supposedly tens of billions of units of the fraud, backed by force, suggests that, despite his own claims doing well, the overall systems are going too far. Similarly, the article that you linked above, Truthseeker2, is still orders of magnitude away from the magnitude of the real problems with a globalized system of electronic frauds, backed by atomic bombs.
The only genuine solutions would require the combined money/murder systems, operating the established ways that the debt controls are backed up by the death controls, being transformed in ways similar to how the basic sciences and technologies that made electronics and atomic power become possible in the first place. However, obviously, NONE of that is present in any publicly significant ways. Instead, we are rushing faster and faster towards some collapses that are crazier than we can comprehend. The frauds will eventually be backed up with force, in ways that fail to work on a more spectacular scale than we can currently imagine. Since the basic structure of the established systems is denied and suppressed, and almost all of the controlled opposition to those established systems tend to promote the same kinds of false fundamental dichotomies, and impossible ideals, as somehow what should provide the inspirations for resolving these problems, there is practically nothing in the public world that admits the facts, and bases solutions upon those facts, that the government is organized crime, controlled by the best organized gang of criminals, and that the only way to resolve the combined runaway debt/death control insanities is by understanding the deeper purposes WHY, and developing better ways to accomplish those purposes.
Everything that I have learned about how these human systems really work has made me become mostly convinced that it was a waste of time to bother to learn about them, since they almost totally operate on the basis of deliberate ignorance, and therefore, no evidence, and no logical arguments, actually matter to those established runaway systems of organized lies, operating organized robberies. The FACT that the FRAUDS are now backed up with the FORCE of weapons that are trillions of times BIGGER, makes no difference to the ways that the vast majority of people think. Since the whole world is being controlled by systems of legalized lies, backed by legalized violence, wherein the vast majority of people do not understand that, and do not want to understand that, while those most operating those established systems most refuse to face those facts, and most want to not understand that, and most want other people to not understand that, it appears to have been a silly waste of time to attempt to understand those things any better, and appears ridiculous to bother communicating about those basic social facts. It is like attempting to do social psychiatry inside of an insane asylum, which is being run by the most criminally insane people, while almost all the other inmates run the gamut of different kinds of insanities as well.
You see it's people like RM here who make me distrust pretty much everything on this weirdo site. Some, no make that most of you, seem a
little bit too enthusiastic about the coming economic apocalypse.
Yes! And mine were still warm and fresh as if they were straight from the presses. And they fit perfectly on their counter. Go figure...
The scariest bit is that virtually everyone with money in the bank doesn't realse that the money is not there unless they happen to be amonst the first to withdraw.
In the dash for cash, the printing has just begun.
http://www.futilitycloset.com/2013/10/27/higher-math/
If the wealthy are hoarding cash, why would I want to? Shouldn't I be hoarding the things they will want to buy with that cash so I will have it when they wipe out supply?
Why would you want it? THINGS will be worth something, cash-- not even if the blackout is over a week long.
The wealthy aren't holding cash; they're holding digits, everyone of which (and there are trillions out there) is a claim on a physical dollar.
So along with PMs, you should be hoarding hard cash in small denominations (e.g., 20s), including lots of nickels — http://archive.lewrockwell.com/orig13/hathaway2.1.1.html — which everyone's familiar with and will be very spendable once it's clear that their metal content turns them into "poor man's gold."
It not *if* they bail-in, but *when*.
Although, unlike Cyprus, we here in America have a special deterrent that will make things very interesting when they do try to bail-in....and that my friends, are called: "guns".
Don't worry that cash they are "holding" will be snatched out of their hands quickly, you know to buy that $50 loaf of bread and that $40 gallon of gas. Then they will need moar.
Deo vindice,
I hold cash because I believe it's the least worst option. I sprinkle my savings in chunks in local credit unions and banks within walking distance of my house; I also keep a percentage in phyzz as an insurance policy. I am calculating that before a currency crash or devaluation or hyperinflation, there will be a window that depreciated assets can be bought with my cash which will make up for the 5-10% that I am losing annually by having it parked there... Is this a wrong approach?
During the night while you slumber, the crafty banksters will declare a bank holiday. You awake to an " OH SHIT" moment that you can only withdraw 100 dollars a day from the ATM but it was out of cash before you WALKED to the bank and the BANK IS LOCKED UP TIGHT AS A DRUM. As Buckwheat would say, PHYZZ is O'TAY.
@TaffyLewis
Thanks for the advice. Perhaps a small fire-proof safe is in order.
D v
I gave you an up arrow but I think if they did bail ins in the USA that it would be game over.
We print the reserve currency and we can always keep things nominally good. To fail at that would simply be incompetence.
Other countries HAVE to do bail ins because they can't just print. We can and I suspect we will.
Why, is it a softer two ply?
What's this Franklin you speak of? I see only George and Abe.
Confetti swept from the streets.
and let's not forget about "cash" last go-round...
NEW YORK, Oct 9 (Reuters) - Twenty-eight U.S. money market funds, instead of just one, could have collapsed during the height of the global credit crisis in 2008, underscoring the severe distress in credit markets following the collapse of Lehman Brothers, according to a blog post from the Federal Reserve of New York.
The funds' losses were "obscured" because their parent companies absorbed them, four Fed analysts wrote on Wednesday in an entry for the bank's Liberty Street Economics column.
In 2008, the Reserve Primary Fund was the only money fund whose share value dropped below one dollar, or "broke the buck," due to its heavy exposure to Lehman's debt securities.
The collapse of the Reserve Primary Fund was a watershed moment during the financial crisis. It nearly froze money markets and led the Fed and other major central banks to embark on unprecedented action to flood cash into the banking system.
Regulators have been implementing a series of moves to toughen oversight of money funds since the crisis in a bid to avert another fund collapse.
In their blog post, Marco Cipriani, Michael Holscher, Antoine Martin and Patrick McCabe wrote: "at least twenty-nine MMFs had losses large enough to cause them to break the buck in September and October 2008 despite significant government intervention and support of the sector."
Five funds or more posted losses exceeding the 3 percent reported by Reserve Primary Fund, and one fund reported a loss of nearly 10 percent.
"Among the twenty-nine funds that would have broken the buck without sponsor support, the average loss was 2.2 percent," the Fed analysts wrote.
"Yet, the losses for twenty-eight of these (money funds) may have gone unnoticed during the crisis, as neither their shareholders nor almost anyone else could have observed their magnitudes at the time," they said.
The blog post did not name the other 28 funds that could have broken the buck.
+1 Nice heads up. Just have to look at what your mmf actually holds. Safer ones stick with vst treasuries and NO derivative crap. They pay nothing, but should be safe.
Bullish no paper toilets. The best Japanese invention, ever.
With all the money printing, I bet my ass that toilet paper is the better long term asset of the two.
With all the money printing, I bet my ass that toilet paper is the better long term asset of the two.
The system can stay addicted to monetary heroin longer than Barry Sternlicht can imagine. He is just another rational hedger getting burned up by his hedges, and he wants the heroin feed to get closed so that he can make even MOARER money with his volatility longs. Yet another douche. Going on CNBC you are branded a douche for life in my perspective. If a Tyler ever appears on CNBC, I close my acct here for eternity.
I would even go so far as to sell some of my paper gold if Tyler went on there.
Rational hedger? They invest in real estate ...
Only disagreement- deficit will not hold $650B, it will beback to $1T+ shortly- we are nearing the iceberg
Dude, the $650 billion deficit is all accounting smoke and mirrors with Jackass Lew moving funds from one place to another to tweak the numbers. It's complete bullshit.
Only accounting magic even gets you close to $650b in the first place, IMO.
Who knows the real deficit.
That why you buy PMs
These guys have a $.99 over spot sale on 1 oz opm bars.
Www.bgasc.com
I'm a gold guy myself but thought I would share that for all the silver stackers.
... Now if we could just get $.99 over spot for gold grams. ;p
This is the best way to get it.... buy the minimum deliverable amount and buy it when the NAV's in discount and just take delivery
http://sprottphysicalbullion.com/sprott-physical-gold-trust/net-asset-va...
They, those with the piles of cash and the insider advice, will be the ones that swoop in on the shelves at Wal-Mart, leaving them bare, before the masses even know what hit them. THEN, "cash will plummet".
"If "everyone" is holding cash... cash will plummet."
Well, too bad you/we can't invest in the original Ponzi, the WTM (Wealth Transfer Mechanism) that is Privately-held Central Banking and FRB. Then you can force people to accept you bouncy checks all day long.
I guess you had to be born into it. Gee, what else does that sound like, from centuries past? Lemme think... Could it be... Aristocray? /sarc
In comparison to the destructive effects of these WTMs (wars, economic depressions, poverty, war-on-drugs, etc), the WMDs of various "rogue states" or "evil dictators" are just Chinese firecrackers.
Uhmmmm......"cash" is the bubble.
Fiat is the bubble, cash is the myth, gold is the asset.
That was my point. I should have said FRNs to be exact.
Federal Rear-end New-wipes
@ FirstDivision: maybe read FOFOA on Gold & FX (DCRB posted a link the other day). In fact, read it two or three times. Quite long, like most of his stuff, but a better explanation than I have found elsewhere.
LOL. And we all hate the absence of this "myth" in our own pockets, right? ;-)
Reminds me of a visit to a restaurant...
The waitress asks me: "How was the food?"
I responded: "It was inedible muck. And there wasn't enough of it!"
[got a vacant & confused look] Had to repeat myself twice before she 'got' it.
They didn't say in which currency! Shirley that matters.
Simply put, he concludes, "you know when this ends, it's gonna get ugly."
Funny we've been saying that for 6 years and we were called kooks... and still are by a big chunk of the population... mainly Obamabots and Keynesians.
Exactly. Now people in the MSM are saying it likes its some French secret that everyone knows but must not speak of.
What does Moochelle have to do with the end?
You should be deeply moved that Dear Moochelle is proud of her country for the first time in her life. Get on it and shed some tears.
Ah ...the one bright spot in my day...realizing that the S will HTF on Lord Barry's watch....The guy is so thin skinned he will probably order the execution of the dollar itself (cept it'll already be dead.) Michelle (famous single mom) will have to cut back on shopping, it will be awful....but fun to watch...
Just wait a day or two, then MSM will talk about the 'on going recovery'.
if something gets pretty ugly, does it cancel itself out?
holding western cash as a safety net
is like holding half of the net
the part with holes
well its comforting to know that now they'll only be %69 less wealthy when it goes up it smoke, instead of the %100 that would have happened in 2008
Im holding more gold than cash!
Can I interest you in some cash4gold?
Don't laugh now, its coming soon via a gov't well-armed 'civil servant' near you - near you like right outside your door.
Now that would be funny. No way they go that route. That may have worked in Russia a while back. The gold bugs are the gun bugs. You could not pay a civil servant enough to go knocking on doors for that.
Better to make the gold bugs cough it up ounce by ounce trying to hang on another day.
Hey Fonz good to see you. I've thought of that - the gold bugs are the gun bugs. It would still be very possible if it were done one household at a time. I have faith in our fascist government to come up with a solution.
How about if the civil servants just give me a parking ticket every day. Then when I stop paying them out of frustration or anger or being broke, they send me to jail overnight. Once I am in there then they just come through my door without any resistance?
It's easy to think like these psychopaths.
They just cancelled millions of insurance policies and are forcing people to buy expensive health care. Your gold? Not safe at all. You are right, they are all psychopaths.
RSloane: "They just cancelled millions of insurance policies and are forcing people to buy expensive health care. Your gold? Not safe at all. You are right, they are all psychopaths."
Americans are being bailed in, and they don't even know it.
Some of them were dumb enough to think it was all about 'health care'. How stupid.
Remember folks, the 'supreme' court said O-care was legal cause its a tax - - - and essentially they can put any tax on you that they want 'legally'. Are you starting to get it folks ? (Likely wasted text since those that need to understand don't read ZH or much else except comic books.)
"Americans are being bailed in, and they don't even know it."
The table certainly appears to be set that way doesn't it? My reading of history tells me that economic collapse is characterized by lawless chaos in the markets which allows the crazy-brave and the well-connected to transfer all of the wealth of society in their few hands.
Seems like this time around, there won't be chaos. Just simple peaceful transfers that, as you can see, were all agreed to in pre-existing laws that have already survived court challenges before the moment even arrived.
During the housing bubble I remember the way the bankers scoffed at this pie-in-the-sky theory about the entire banking system collapsing. Then when it happened they seemed to have it all sorted out in a weekend or two, almost as if they had been contemplating the event long before the bloggers even came along.
We like to think that we see whats coming but we see nothing compared to the men who insist it's all good. I try to remember that.
it's possible (the going broke part)
my wife just got a click-it ticket....$400
Photo traffic ticket ? Do some research online first before dealing with that.
Different states have different laws.
My guess it will be squeezing it out ounce by once and taxing the shit out of it. It's easy to convince the populace that people holding gold are "rich and evil" and deserve to be punished. The dumb ass iSheep will buy into the BS hook line and sinker.
It fits the tax other people mantra
Extreme taxation just means the gold bugs will migrate to other countries with their gold on private boats or planes.
ZH redneck doomers are going to be mighty frustrated to find out their Mad Max total mayem apocalypse is already over and instead of the world coming to an end, it is just the 99% selling their organs over Ebay or an Ohian MILF Craigslisting her pussy to make up for the 6% EBT cut. The end of the world is already happening, and the price of gold is not going up, and there is no need for a shotgun collection. The food stash will come in handy, but everything else ain't worth shit.
disagree about the shotgun. It is a pair trade with the food collection.
Son of a bitch, I spent a lot of time canning home-grown foods this weekend and I missed the fucking apocalypse. Is there anything else I should know that happened?
The Jets beat the saints.
slaughterer - you may be right about the obvious Mad Max scenario and that we face slow burn instead.
We all may ask ourselves and think: "What would it take for a slow burn scenario to take place instead of a sudden crash and accompanying apocalypse ?" Well, for one thing, there would have to be co-operation from those holding lots of US dollars that they don't dump them even in the face of continuous printing.
Fast or Slow, or intermittent...its all down. All the roads are merging and it looks like Greece or Rome up ahead.
What about my 10lbs of raw tobacco? good, yeah good
I'm diversifying into silver dimes, quarters and halves.
Don't forget about the 3 B's, Beans, bullets and Bandaids
Coffee beans too.
& Bourbon
Brandy, Bongs & Bitchez...
hell, I just sold all of my gold silver and bullets for bitcoin.
And I am no fool. I printed them out and they are in the safe. it is amazing how much room I saved. When the time comes, I will just scan them with my iphone and transfer them to you.
I will be rich, I tell ya. Rich.
Can I interest you in trading fiat Cash for some "Degenerate Art" as value-retaining assets?
Looks like a German art collector did some "Front-Running" of his own in the 1930s, when he positioned himself to 'sell' "Degenerate Art" that was collected/confiscated by the Nazis. I'd be curious to know exactly whom he was to "sell" it to, if it became 'Verboten' in Germany.
Links:
http://rt.com/news/nazi-jewish-art-scandal-215/
http://www.bloomberg.com/news/2013-11-04/nazi-looted-art-trove-in-german...
Why does that prick Kiernan still have a job??
I have no idea Cookie, why do any of them still have a job with an audience that is very small and ever shrinking? Its almost like their boss has some deep connection to the White House.
the irony is we are their audience. CNBC gets more exposure through ZH than they do on their own. I am surprised ZH gives it to them just because once a day some monkey utters a reference ZH is pushing.
I hear ya. I would bet the reason why the site carrying that clip is crashing is primarily due to ZH readers and people like them who are screaming "I TOLD YOU SO" at the screen.
Shirley there is an arms length critical reporting between the MSM and the white house. I mean we heve all this "diversity" in reporting which should serve to keep government honest. It's not like all of media hasn't been bought up by the oligarchs.
LOL Doc, thanks, I needed that laugh.
6 corporations. Thats all they have to control these days. Geez, you could talk to all the CEOs before your 2nd cup of coffee for the morning is finished!
London in the 1600s, had something like 400 independent newspapers.
And yes, I am sure at least one of them was a TMZ equivalent...
It's getting pretty damn ugly right now, just got my insurance cancellation letter a few days ago, and I'm not the only one.
Yes db, for many that cancellation notice is the shtf moment.
Where are the numbers of how many people are like yourself? The truth is not being told.
Me thinks the silence on this story is profound.
I did not get a cancellation but was just informed my company will just drop the plans (since they can due to the employer mandate being dropped). They will pocket any profits and next year they will pay the fine and distribute pay cuts to us to pay the fine. In the end the execs will still get their bonus and the rest of us will pay in some other direction to ensure their bank accounts.
http://mycancellation.com/
A lot more people beginning to make the bet that it will never end, precisely because the end is unthinkably bad, so everything will be done to avoid it.
What a twisted world.
Ain't no stoppin' this.
Cash? Not everyone. Some are invested in Litecoin!
The open source peer-to-peer cryptocurrency revolution!
https://litecoin.org/
Litecoin offers three key differences from Bitcoin, which its developers hope will make it better than Bitcoin.[5][6]
The Litecoin network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes, which its developers claim allows for faster transaction confirmation.[1][7]
Litecoin uses scrypt in its proof-of-work algorithm: a sequential memory-hard function first conceived by Colin Percival.[8] The original intended benefit of using scrypt was to avoid giving advantage to GPU, FPGA and ASIC miners over CPU miners, which occurs in the Bitcoin protocol. However, this turned out to be an incorrect assumption: GPU mining in Litecoin's implementation of scrypt is currently ten times more efficient than CPU mining.[citation needed] FPGA and ASIC implementations are more expensive to create for scrypt than for SHA-256, which is used in the Bitcoin protocol.[9]
The Litecoin network will produce 84 million litecoins, or four times as many currency units as will be issued by the Bitcoin network.
I tried the link and it tries to make me download something. I didn't junk you BTW.
Was it a certificate?
Try: http://litecoin.org
Without the https.
I think that down_vote_bot is on the loose today!
Over.
RlPj_+x5.bin is what downloaded. I ran it past VirusTotal.com and it didn't detect anything. Maybe running on PCLinuxOS kept it from doing something. Deleted.
Oh man, whats next after this, shitecoin? bitecoin? Gaycoin? we humans are absurd creatures.
Sticking to the topic of cash in hand, what finally sparks the velocity of all this held money?
Mayhem will spark the velocity of all that money.
http://en.wikipedia.org/wiki/List_of_cryptocurrencies
Looks like about 50 of them. Then the Non-Cryptocurrencies. Lots of velocity.
We will soon have country specific internets, why not crypto coins by the country?
We are getting to full circle without stopping at the international currency....
dup
When you see a 20 year old kid go full retard at a Westfield Shoping Mall (those guys have ALL the luck don't they) abd starts shooting the place up leaving no one killed but himself....that is when Mr. Mayhem will show his face.
(It is Tuesday and I have to fit in a SOA reference somewhere.)
Did the kids programming fail? Someone probably had to enter the mall and put an end to it (yes, I know its reported he killed himself).
When prices start moving up so fast it can't be hidden. People will have the aha moment when they realize cash is withering away and must be spent on hard goods to protect what value remains. THAT will spark velocity.
Expecting A LOT of these in the coming years and as we all know, when supply is a lot and demand is restricted, what is happening with the prices. Finally all these internet currencies are JUST a concept ( although a good one ), that is having the deliverable flexibility of the Net. So if someone think about putting money in these for more than 2-3 or even 5 years, or put it simply, not for speculation but wealth preservation, think again. Any natural resource will probably be a lot better bet, at least they can not be conceptually created.
On another note, what happen with all this technological "wealth" when a Solar storm of the type of 1859 hits our wonderfully engulfed in/dependent on low voltage equipment civilization. Research and try to decide on your own, but of course for that one needs a particular practical knowledge.
The video must be getting a lot of hits because it doesn't want to play or stalls.
Everyone knows it's a bubble but "now is the time to buy" according to the "investment managers" on CNBC.
I see crazy people.
Nah.
Worry worts.
The messiah is here now baby, and it's gonna be raining money for eva!
for eva = till it stops
This appears to be working for the moment: http://www.cnbc.com/id/101170641
Anybody catch H.R. 992 - Swaps Regulatory Improvement Act?
http://investmentwatchblog.com/something-really-insane-just-happened-in-congress-and-you-probably-havent-heard-a-word-about-it/
Saw it last night. My congressman is one of the few repubs who voted NO. Once again, we get to bail out he banksters. When do we say enough is enough?
The thefts and Massive Wealth Transfers (MWT) via the Fed and FRB shall continue until they can't.
"We'll keep using the TD-scoring play until they stop us" -Football coaching 101
The runaway train must be nearing Terminal Station, if the First Class passengers are looking to get off.
When the dollar bubble pops, we will all be losers. The better prepared will lose less, but do not kid yourself, when Americans finally realize we have lost reserves currency status and no one wants our bonds, we will all be losers and the standard of living for everyone will drop dramatically and we will not be able to afford the cheap crap from China. Instant third world demotion overnight. It might come in the form of a structured write down of US bonds, or a 40%-60% overnight currency devaluation or some other ingeneous way to steal our waelth but that day is coming, this run away debt train can not be stopped and we will run out of track, we just do not know when we will run out of track.
Well . . . on the postive side many of us will be able to tell our friends & family . . .
"See you dumb f*ckers ! I've been telling you this sh*t for years ! I was right, and you were wrong."
Thats the problem with being a doom and gloomer.
First there are the years you are called a fool for spelling out the exact nature of what is about to destroy us.
Then when it all goes down there are the years you learn to keep your godamned mouth shut and hope the people around you have no memory at all of your warnings because of the implied danger to you.
It will take the media about 30 seconds to convince your family that YOU did this to us. Did you tell them to "buy hard assets and store them in your basement" often? What if they remember that when they read that gold hoarding is hurting the economy and is a favored form of barter among terrorists and the other criminals who's greed works to destabalize the system the central bankers work so hard to maintain for all of our benefit?
What if the govt offers them a $50 gift certificate for outback steak house for turning you in? And not even for conviction either, just for giving them an excuse to come in with a SWAT team to rifle through your shit?
http://www.youtube.com/watch?v=bhFHIlwCSq0
Maybe for a gold iPhone, your kids would turn you in, yeah. Thats the problem with letting the government and the TV raise your kids...
"Thats the problem with letting the government and the TV raise your kids..."
It's amazing how hard it is to convince people to think shit through isn't it?
ForWhomTheTollBuilds: "It's amazing how hard it is to convince people to think shit through isn't it?"
Ain't that the truth ? I've never told anyone "I'm right and youre wrong" only "Take a look at the facts and lets talk about it afterwards. Lets look at it logically without any preconceptions." (I'm actually more interested in what works rather than being 'right' - - - that goes along with being a trader. Long side or short side is fine, as long as youre on the right side of that particular trade.)
Most people refuse to do this. They don't know and they don't want to know. They don't think and don't want to think.
During the last election, I showed hardcore repubs statements and videos of Romnoid supporting the same things that they disliked about O. They didnt want to hear it and got mad when I showed them the evidence. - - - When I show O'bots 'promises' he made and how he lied and did the opposite, they get mad and don't want to see it either.
I've never actually gotten people I know personally, beyond the statement "The economy isn't really getting better". And sure havent gotten them to look at deeper questions. They refuse to respond to that statement, much less discuss it depth. "Too scary" for them, I suppose. Theyre like children.
Our state had GMO labeling on the ballot and I Finally got a relative to look at a video on the health and environmental dangers associated with GMO. Afterwards, they seemed angry that they were shown the information. (Not at the companies producing GMOs).
People are funny that way.
This guys needs to be careful about making statements like these. There could be an exploding car in his future.
Speaking of the FED looks like tapering is bad m'kay is going mainstream it is not the story or who is saying it but the fact ABC an MSM for lowest common denominator morons outlet is reporting it. But caveat is it is their Australian outlet not the US one. I guess the new strategy to look "fair and unbiased' is to publish contrarian points of view but in the wrong markets where it will reach the least amount of lowest common denominators in the right market that should be hearing it.
http://www.abc.net.au/news/2013-11-04/us-fed-official-criticises-us-gove...
Federal Reserve official Richard Fisher criticises US stimulus program, handling of economyA top United States central bank official has used a rare speech in Sydney to give a damning assessment of the bank's own massive stimulus program.
Federal Reserve of Dallas president Richard Fisher has called for an end to the program of quantitative easing, or printing money.
He warned if that does not happen, it would fuel the kind of reckless market behaviour which started the global financial crisis.
...
Rare my ass, he has been about the only constant contrarian viewpoint the whole time. Whether he actually believes what he is saying or is just the token contrarian for the illusion of a 'democratic' process concerning monetary policy is another story.
"He warned if that does not happen, it would fuel the kind of reckless market behaviour which started the global financial crisis."
Too late. The market has already been there, done that.
Well no shit that is like preaching to the choir around here. Confirmation bias is a strong boundary to overcome in the Matrix. That is at least a start.
They want everyone in cash...more effiecent culling when they decide to flush the dollar.
fixed it:
"you know when this ends, it's gonna get ugly for those holding paper of all kinds including cash."
if everbodys holding debt coupons dollars then they aint holding NOTHING!!!
Who's holdings THE ONLY 2 FORMS OR REAL MONEY???????
c'ya suckers.........
the video is curiously not available.
I wonder if that would have been the case had he been there screaming "buy buy buy"?
If, 39% of wealthy people are holding cash and cash is being printed at a rate of $85 Billion a month, they will not be rich much longer!
It ain't gonna get ugly. It will just get real.
Fake 'value' returning to zero. Gold returning to straw when the magic stops working.