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Quote Of The Day: Larry Summers To Elizabeth Warren - "Insiders Don't Criticize Other Insiders"

Tyler Durden's picture


Submitted by Mike Krieger of Liberty Blitzkrieg blog,

A couple of weeks ago, Princeton and Northwestern released a very important study that proved statistically what many of us already knew about the American political process. It is nothing more than an oligarchy. 

It’s one thing to read an academic study showing how cancerous the political system is, it’s quite another to hear a description of how things work from one of the biggest crony weapons of mass societal destruction himself, Mr. Larry Summers.

A recent review in the New York Times of Massachusetts Senator Elizabeth Warren’s new memoir “A Fighting Chance” recalls a stunningly despicable quote by Summers. In the spring of 2009, when the banker handout, I mean bailout, was a heated topic of discussion, Elizabeth Warren attended a dinner with Mr. Summers who at the time was the director of the National Economic Council and a top economic adviser to President Obama. This is what transpired:

After dinner, “Larry leaned back in his chair and offered me some advice,” Ms. Warren writes. “I had a choice. I could be an insider or I could be an outsider. Outsiders can say whatever they want. But people on the inside don’t listen to them. Insiders, however, get lots of access and a chance to push their ideas. People — powerful people — listen to what they have to say. But insiders also understand one unbreakable rule: They don’t criticize other insiders.

What is so incredible about the quote above is that it essentially proves correct everything I and many others have been saying about how “things work” in America these days. The statements above describe a petty, childish oligarchy of arrogant fools. This small club of people call all the shots and do not listen to “outside” ideas whatsoever. This is why nothing changes. This is why the same people are recycled through positions of power over and over again no matter how badly they screw up and how many millions of lives they ruin. This is why there is a two-tiered justice system in which the rich and connected never go to jail, while the average citizen can have his home raided by police for a parody Twitter account. This is why the 0.01% have been able to loot all of the nation’s wealth while median inflation adjusted wages have been declining for 40 years.

The reason is because the “status quo” in America consists of a deranged, immoral, arrogant, selfish fraternity of inept children who protect each other at the expense of everyone and everything else. Until the status quo gets the boot, this nation will continue to decline. Forget reforms, the entire status quo needs to be tossed aside once and for all. The insiders must be turned into outsiders.


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Tue, 04/29/2014 - 22:25 | 4710563 Osmium
Osmium's picture

Somebody send Summers a nail gun.

Tue, 04/29/2014 - 22:26 | 4710570 aka Gil
aka Gil's picture

Insiders must be turned into compost. There, fixed it.

Tue, 04/29/2014 - 22:33 | 4710603 e_goldstein
e_goldstein's picture

Insiders must be turned inside out.

Tue, 04/29/2014 - 22:38 | 4710635 Four chan
Four chan's picture

insider is just a term for one engaged in a reacharound.

Tue, 04/29/2014 - 22:48 | 4710675 wee-weed up
wee-weed up's picture

And to think Obozo wanted this turd to be FED chief!

Tue, 04/29/2014 - 22:53 | 4710683 Soul Glow
Soul Glow's picture

Obama makes no decisions.  No President has since Kennedy, and obviously the establishment didn't like that.  

All Presidents are puppets.  Even Bush Sr.

Tue, 04/29/2014 - 22:54 | 4710695 Ignatius
Ignatius's picture

A senior puppet is my guess.

Tue, 04/29/2014 - 23:00 | 4710719 Soul Glow
Soul Glow's picture

Like father like son.

Tue, 04/29/2014 - 23:00 | 4710721 prains
prains's picture

it used to be every month I'd ask the zombies to eat an Oligarch, then it was every week, now it's almost daily I implore the zombies to eat the oligarchs before they succeed in making the World Woar 3.0 go hot in Ukraine and WE ALL SUFFER because of them

Wed, 04/30/2014 - 06:36 | 4711172 HardAssets
HardAssets's picture

When the meme got out there in the minds of enough people, that it wasn't really 'their government' or 'the Peoples' revolution', the USSR crumbled.

The same thing will happen in the USSA. Its inevitable since it is a system of theft for benefiting the very few. They steal wealth, power, freedom, and security.

The American people are likely among the most lied to in the world (and by a very sophisticated liar system). The oligarchs are doing all they can to keep Americans in the dark for as long as possible. But eventually that will fail, as more theft is needed to maintain their system. The previously 'dumb, fat, and happy' will finally figure it out.

Wed, 04/30/2014 - 06:42 | 4711190 UselessEater
UselessEater's picture

Are you sure? Was it possibly a meme by design?

Is it just the "Americans" being kept in the dark?

I'll re-post my questions/comments because I think being "awake" means staying "continuously awake".

As one poster said: Putin -The guy would bleed on their flag to keep its red stipe. I doubt any american politicians would do that.

Yet Putin has not shown a hint of protecting inherent inalienable rights or creating them but somehow Russia is better than the USA??? What? A fry pan is nicer than a fire?

No, today Putin of the former soviet KGB is getting better PR than Obama another mere puppet of a global front run by the BIS etc which has decades of experience and interferance with EVERYONE including Russia, China, and the rest of the BRICS. So how come Russia was not on the 7 countries in 5 years memo????... and your private property rights will improve under WHO? Putin?


 "Russia is more beholden to international bankers than perhaps any nation on the planet."

Used to voting red/blue? Now you get to vote east/west how awesomely symmetrical?

Look at the older comprehensive texts like Tragedy& Hope and Committee of 300.... then wish for the Putin "independant free world" its soooo free of the same shit, just a little less predictable for TPTB but perfect for their years of war/marxist interferance and support in Africa and South America.

Wed, 04/30/2014 - 09:57 | 4711764 joe90
joe90's picture

Great link, I've been sitting on the fence re Putin.  It's hard not to get suckered into this "good guy" "bad guy" thing.  We must be hard wired for it, it's tribal and permeates sports, movies, folklore.

Wed, 04/30/2014 - 00:13 | 4710860 james.connolly
james.connolly's picture

Ronald RAYGUN ( a USA president ) was fond of saying
.."Insiders, DON'T KISS AND TELL"

Sailors say "Loose lips sink ships"

What's new here Unicorns? Absolutely god-damn
fucking nothing.

Move along,

Wed, 04/30/2014 - 03:22 | 4711052 SAT 800
SAT 800's picture

It doesn't have to be "new" oh great and wise James; it only has to be timely and important.

Wed, 04/30/2014 - 05:18 | 4711130 Notsobadwlad
Notsobadwlad's picture

There will come a time when ALL people will be able to read the thoughts of others. This changes the status quo.

Wed, 04/30/2014 - 03:20 | 4711050 SAT 800
SAT 800's picture

The insiders must be turned in outsiders; not necessarily; corpses would do fine.

Tue, 04/29/2014 - 22:25 | 4710567 NoDebt
NoDebt's picture

"The statements above describe a petty, childish oligarchy of arrogant fools."

Who would feel any other way when absolute control is so nearly within their grasp?

Tue, 04/29/2014 - 22:50 | 4710676 aVileRat
aVileRat's picture

I think George Washington was right to say, the true measure of a man is when he can have absolute power, and realizes when to turn it down.

Summers is without question one of the worst examples of the whole Economics profession and I think only is matched in his welterweight insight by Stiglitz or Krugmann for a mediocre mathmatician who is an excellent yes-man.

Yellen, we may all laugh at how she stammers or looks like your grandmother at Beamers, but she (unlike Bernak) came up with the original proofs, along with her Husband  that stated the QE monkeywork does not work in the end. Federal policy can temper euphoria, but all hangovers need a serious controlled reset and burst of innovation capital towards real hard asset factor productivity. Summers would have given no shits about yanking the rug out to give Obama enough headroom to push agressive taxation policy forward, then backing all the way back up the yield curve just to save his skin.

Best case? Yellen collapses the P/E's and bank's will be forced to collapse their repo chains as ROA's are rerated (like BoA's "discovery", well known to all who were short that dogshit going into March). The lack of financial capital flowing puts everything leveraged back into 1996 Japan like "recovery", which at that point will be when US Federalists will need to debate Presidential and Corporate reform. If the US goes towards commod. rent seeking and price controls like 1970, then it's game over. I got a long saying they will, with the Keystone denial + climate reforms that Obama wants to be his legacy being "just the tip".






Tue, 04/29/2014 - 23:00 | 4710722 NoDebt
NoDebt's picture

Understood and agreed on most of it.  Where I agree most is when you used the magic word:  Japan.  Focus on that and I think you will be closest to right in the long term.  

Tue, 04/29/2014 - 22:26 | 4710569 One And Only
One And Only's picture

Larry Summers looks like Hillary Clinton with shorter hair.

Tue, 04/29/2014 - 23:10 | 4710742 wee-weed up
wee-weed up's picture

Ouch! Damn, he's ugly and fat, but don't crucify the turd with that burden!

Wed, 04/30/2014 - 00:35 | 4710895 QQQBall
QQQBall's picture

Larry has bigger Moobz

Wed, 04/30/2014 - 00:46 | 4710907 fnord88
fnord88's picture

and Hillary probably has bigger balls ( not in a good way!!)

Wed, 04/30/2014 - 02:01 | 4711006 Manthong
Wed, 04/30/2014 - 01:10 | 4710939 VegasBob
VegasBob's picture

That fat fuck Larry Summers was probably born with Bill Clinton's dick in his mouth...

Wed, 04/30/2014 - 03:25 | 4711060 AlgorithmOfCons...
AlgorithmOfConsciousness's picture

Summers o'plenty inside the ego of Larry.

Tue, 04/29/2014 - 22:27 | 4710582 Ferrari
Ferrari's picture

Nothing new under the sun. I believe TPTB circa 1914 believed they had it all figured out too, and look how that turned out for everyone.

Tue, 04/29/2014 - 22:36 | 4710625 NoDebt
NoDebt's picture

TPTB circa 1914 won HUGE over the last 100 years.  HUGE.  

THEY won, not you and me, but there is no denying the system they set up is one of the most successful in the history of the world for perpetuating their own dominance.  It survived two world wars, a depression, the thread of nuclear annihilation a second depression (2008-current) and The House of Morgan still stands today with as much prominence as it did 100 years ago, if not more.

So I ask... how did it turn out from THEIR perspective?

Tue, 04/29/2014 - 22:52 | 4710687 Edward1290
Edward1290's picture

It turned out great for THEM........they stole all the wealth thru their 'debt based fiat money system'....they will go into hiding for a generation or two and then come back out and introduce another 'debt-based fiat money system'......and fleece the world all over again........same as it ever was........


Tue, 04/29/2014 - 22:57 | 4710713 john39
john39's picture

game is not over yet.  appearances can be deceiving.  they are living on borrowed time, and the tock is ticking...

Tue, 04/29/2014 - 23:14 | 4710755 NoDebt
NoDebt's picture

Given current rates, I suspect they can keep borrowing against that ticking clock for a LONG time yet.

How far would you go to borrow against another guaranteed decade of life?  Another year?  Another month?  Another day?  

If the interest rate is almost zero, you would probably be able to sustain it much longer than most people would suspect.

Wed, 04/30/2014 - 02:06 | 4711009 UrbanMiner
UrbanMiner's picture

Summers is a Pig Beast akin to the Uruk-hai Orc's of Lord of the Rings, raised from the bowels of the earth, soulless and devoid of compassion. How these fiends survive as long as they do is a wonder to me, with all the disenfranchised folk you would think he would be on someone's list....

Wed, 04/30/2014 - 07:11 | 4711226 Infinite QE
Infinite QE's picture

He survives because he is the public face of an even uglier, sub human Orc cartel.

Tue, 04/29/2014 - 22:28 | 4710584 Stockmonger
Stockmonger's picture

Unbreakable rule #2: Is it good for the Jews?

Tue, 04/29/2014 - 22:43 | 4710656 BeanusCountus
BeanusCountus's picture

Its not "the jews". People of influence that corrupts cross every line of nationality, race and religion. The sooner everyone gets that the faster the problem will be solved.

Wed, 04/30/2014 - 07:09 | 4711223 Infinite QE
Infinite QE's picture

How many non Jews are owners of the global banking cartel?

Wed, 04/30/2014 - 08:46 | 4711411 marathonman
marathonman's picture

Fascinating question.  My guess is not many.

Wed, 04/30/2014 - 03:13 | 4711044 Mr Poopra
Mr Poopra's picture

You mean Zionists.

Tue, 04/29/2014 - 22:28 | 4710587 shinobi-7
shinobi-7's picture

Good luck with that! The system will crumble long before insiders have second thoughts. Here in Japan, we are much further down the drain and what will follow Abenomics is super-Abenomics, not a rethink of what is wrong. There is too much wrong and too many vested interest.

Tue, 04/29/2014 - 22:55 | 4710701 Sambo
Sambo's picture

We need seven more samurais to protect against these bandits.

Tue, 04/29/2014 - 22:38 | 4710589 gimli
gimli's picture

I have that particular exchange on video:

Wed, 04/30/2014 - 08:12 | 4711312 Scarlett
Scarlett's picture

Jesus, Larry Summers looks pissed at the end.

Tue, 04/29/2014 - 22:31 | 4710592 LetThemEatRand
LetThemEatRand's picture

Say what you will about Warren.  Who else with an audience that isn't already convinced (e.g., Ron Paul) is calling out these fuckers?

Tue, 04/29/2014 - 22:37 | 4710628 Van Halen
Van Halen's picture

Warren's about as insider as you can get. And very good at hiding it.

Tue, 04/29/2014 - 22:39 | 4710636 LetThemEatRand
LetThemEatRand's picture

Yes, this was an elaborate plot of her part.

Tue, 04/29/2014 - 22:42 | 4710647 Van Halen
Van Halen's picture

LTER, If I read you correctly, you gotta hand it to her: She's creeping around back there being the architect of a lot of the crap that's screwing up things today while her media team work relentlessly to make her 'defender of the common man'.

Tue, 04/29/2014 - 22:44 | 4710651 LetThemEatRand
LetThemEatRand's picture

What makes you say that, exactly?   Does Ron Paul have a secondary agenda when he calls these fuckers out?  

Wed, 04/30/2014 - 00:12 | 4710842 mccvilb
mccvilb's picture

VH, I admit Warren knows how to talk the talk. My ladyfriend, a grounded, educated woman, despises her; it's amazing çause nothing bothers this woman. She says she's a fucking elitist, her words, and she seldom if ever swears. Me, I can't see it, yet I have to say over the years my friend's instincts have proven to be spot on.

Liz Warren does have a little Mitt in her and she lets it out on occasion. The problem is whenever I listen to her I find myself comparing her to others of the opposite gender like Hillary, Palin, Pelosi, Feinstein or Bachmann and boom, in my mind she suddenly becomes a freak of nature. Up until this year I had two others I used as benchmarks; my homies, Collins and Snowe, but Snowe retired and Collins voted for sanctions against Putin, and this after I took time out to write to her! Fuck me. LOL.

Rock on, brother.

Tue, 04/29/2014 - 23:13 | 4710749 wee-weed up
wee-weed up's picture

Feauxcahontas [Warren] will lie to anyone for a vote!

Tue, 04/29/2014 - 23:46 | 4710827 LetThemEatRand
LetThemEatRand's picture

The jury is still out on Warren, but her quote is devastating to Summers and calls out an entire world of deception in a single line.  Summers is a powerful player in that world.

Wed, 04/30/2014 - 01:40 | 4710986 Harbanger
Harbanger's picture

"The jury is still out on Warren"

I wish you would finally admit you're a flaming Democrat. 

Tue, 04/29/2014 - 22:33 | 4710604 Eternal Complainer
Eternal Complainer's picture

One smug fuck!

Tue, 04/29/2014 - 22:33 | 4710606 Spungo
Spungo's picture

I'ma turn you out, boy.

Tue, 04/29/2014 - 22:33 | 4710607 Spastica Rex
Spastica Rex's picture

The insiders must be turned into outsiders.

Precisely. We just need a new and better class of insiders.

Tue, 04/29/2014 - 23:01 | 4710726 Dr. Engali
Dr. Engali's picture

Or a worse class of outsiders.

Tue, 04/29/2014 - 23:10 | 4710744 Spastica Rex
Spastica Rex's picture

Your idea is likely more feasible.

Wed, 04/30/2014 - 02:03 | 4711007 Tompooz
Tompooz's picture

The insiders must be turned into outsiders.


I have experienced that once in 1979.  A nation turning itself inside-out.  Bloody and messy. 

It's only possible when police and military are turned or stay neutral. What's the chance of that in the USSA?

Wed, 04/30/2014 - 07:12 | 4711229 Ghordius
Ghordius's picture

+1 must have been quite hellish to watch Persia becoming Iran

Tue, 04/29/2014 - 22:33 | 4710609 BrigstockBoy
BrigstockBoy's picture

This fucker is a weapon of mass destruction. The war on terror should be waged against him and his ilk...

Tue, 04/29/2014 - 22:34 | 4710611 papa_lazarou
papa_lazarou's picture

Larry Summers...what a scumbag. His arrogance is eclipsed only by his ignorance and inhumanity. When the day of reckoning comes, I'd hate to be in his shoes.

Wed, 04/30/2014 - 09:30 | 4711608 Vendetta
Vendetta's picture

"When the day of reckoning comes, I'd hate to be in his shoes" Yeah, it'll be rough for him jumping into the gulfstream flying off to an tropical island that has a US military base somewhere to watch WWIII on tv while sipping umbrella drinks.

Tue, 04/29/2014 - 22:35 | 4710616 Van Halen
Van Halen's picture

Wait till things have gone so wrong that insiders find out what it's like to be hung from lampposts by outsiders.

Tue, 04/29/2014 - 22:35 | 4710618 oncefired
oncefired's picture

Fuck You Summers!

Tue, 04/29/2014 - 22:36 | 4710622 Dr. Engali
Dr. Engali's picture

I think what you meant to say is; insiders must be turned inside out.

Tue, 04/29/2014 - 22:36 | 4710624 Oldwood
Oldwood's picture

Safe to say Summers has never contributed here, as the criticism would be more than the poor man could bear.

Tue, 04/29/2014 - 22:38 | 4710632 Spungo
Spungo's picture

Is it plssible Larry Summers was attractive at some point in his life? Even if it was only 5 minutes?

Tue, 04/29/2014 - 22:42 | 4710650 gimli
gimli's picture


Tue, 04/29/2014 - 22:46 | 4710666 LetThemEatRand
LetThemEatRand's picture

I'll see you and raise you a "no fucking way."

Tue, 04/29/2014 - 22:54 | 4710698 gimli
gimli's picture

I'll see your "no fucking way"

and throw in 10 of Larry's relatives:

Tue, 04/29/2014 - 22:58 | 4710716 Soul Glow
Soul Glow's picture

Larry, while a PhD student studying economics at Yale, threw a bitchfest when his theories were not nominated for a Nobel.  This because he had family - both direct Uncles - who had been nominated and he felt he deserved it.  Oh poor Larry....

Tue, 04/29/2014 - 23:05 | 4710732 gimli
gimli's picture

If, one day, Larry got what he really deserved .......

zerohedge patrons would declare it a national holdiay.

Tue, 04/29/2014 - 22:55 | 4710699 Soul Glow
Soul Glow's picture

Was Jabba the Hut?

I'm all in.

Tue, 04/29/2014 - 22:47 | 4710669 Dr. Engali
Dr. Engali's picture

Maybe once..... at closing time.... to a very drunk very desperate over aged toothless barfly.

Tue, 04/29/2014 - 22:58 | 4710707 Ignatius
Ignatius's picture


Wed, 04/30/2014 - 01:20 | 4710948 BeetleBailey
BeetleBailey's picture

....smoked out on crack

Wed, 04/30/2014 - 10:11 | 4711823 waterhorse
waterhorse's picture

Sorry, Doc, not even THEN.

Tue, 04/29/2014 - 22:43 | 4710654 Grouchy Marx
Grouchy Marx's picture

Priceless quote from the horse's mouth. Or other end. Is anyone surprised?

Tue, 04/29/2014 - 22:50 | 4710659 astitchintime
astitchintime's picture

"The statements above describe a petty, childish oligarchy of arrogant fools. This small club of people call all the shots and do not listen to “outside” ideas whatsoever. This is why nothing changes. This is why the same people are recycled through positions of power over and over again no matter how badly they screw up and how many millions of lives they ruin."

This right here, folks.  This IS the problem and unfortunately there is nothing that can be done to fix it.

It's why I am going Galt,  same as many more before me.

Last one out, turn off the lights.

Tue, 04/29/2014 - 22:46 | 4710663 Edward1290
Edward1290's picture

These insiders can shove their debt based fiat currency up their ass,...........

Tue, 04/29/2014 - 22:47 | 4710670 Savyindallas
Savyindallas's picture

Summers should be hung and strung up on a lampost by his balls. Piece of shit bloodsucking leach/flea/vampire  -.

Tue, 04/29/2014 - 22:48 | 4710672 Baby Eating Dingo22
Baby Eating Dingo22's picture

Maybe he was talking about his underwear?

Turn them inside out and he gets another week's use out of them

Wed, 04/30/2014 - 10:05 | 4711712 mccvilb
mccvilb's picture

He's a lot sharper than you guys give him credit for. I heard he's the one who advised Clinton to reverse ém for two additional weeks. He also claims to have invented the subtle one-fingered smell test Republicans say he stole from William F Buckley.

"People that are really weird can get into sensitive positions and have a tremendous impact on history." Dan Quayle

Tue, 04/29/2014 - 22:49 | 4710682 Sambo
Sambo's picture

Larry Summers is inside?! Yeah right!

People 'inside' do not talk like this. They are just using these idiots to stir up more anger, hatred and violence in the world.

i am afraid this is going to turn bloody very soon.

Tue, 04/29/2014 - 22:53 | 4710691 Soul Glow
Soul Glow's picture

Asian equity just crashed.

Tue, 04/29/2014 - 22:54 | 4710697 junction
junction's picture

The latest execution of an "outsider" just went horribly wrong in Oklahoma.  I am sure the lapdog press will ignore this horror and continue to spend hours of talking head time on Donald Sterling's comments, which didn't physically kill or injure anyone.  Obama and his henchman, AG Holder, tolerate these sort of experimental executions, making them monsters.    

(CNN) -- An Oklahoma inmate died Tuesday evening of an apparent heart attack after authorities botched the delivery of drugs and stopped his execution.

Another execution scheduled for the same day was postponed.

Convicted murderer Clayton Lockett was sedated and then given the second and third drugs in the protocol, Oklahoma Department of Corrections Director Robert Patton told reporters.

"There was some concern at that time that the drugs were not having the effect, so the doctor observed the line and determined that the line had blown," he said.

When asked what he meant by "blown," Patton said that Lockett's vein had "exploded."

Wed, 04/30/2014 - 01:56 | 4711002 WAMO556
WAMO556's picture

Did the guy die? Then the execution was successful. He didn't die the way he killed his victim which was torture. If he was in North Korea his fate might have been in a cage with a pack of hungry dogs.

Wed, 04/30/2014 - 09:33 | 4711624 Vendetta
Vendetta's picture

In North Korea only the innocent, but dissident, are fed to the dogs

Tue, 04/29/2014 - 22:58 | 4710714 SmackDaddy
SmackDaddy's picture

Young nigga move that dope


Tue, 04/29/2014 - 22:59 | 4710717 I Write Code
I Write Code's picture

Larry, something wrong with that boy, every so often he blurts out the truth.

Insiders don't do that Larry.

Tue, 04/29/2014 - 23:01 | 4710723 kurt
kurt's picture

I like Elizabeth Warren

I don't like Summers or Pearl, or Rubin, or Nuland, or Rove, or WTF  'em

Wed, 04/30/2014 - 03:46 | 4711069 NuYawkFrankie
NuYawkFrankie's picture

Youse be racisss.

Wed, 04/30/2014 - 22:34 | 4714717 kurt
kurt's picture


Tue, 04/29/2014 - 23:05 | 4710733 Sizzurp
Sizzurp's picture

Big man, pig man, ha ha, charade you are.

                                              Pink Floyd

Tue, 04/29/2014 - 23:07 | 4710735 Spigot
Spigot's picture

1) Watch the people who do not talk about other people, they are insiders

2) Watch the people who can talk freely

3) close all the doors on the insiders, and light that mother up

Tue, 04/29/2014 - 23:27 | 4710752 mcgoverntm
mcgoverntm's picture

Calling those who run our lives "a petty, childish oligarchy of arrogant fools" and saying that "the 'status quo' in America consists of a deranged, immoral, arrogant, selfish fraternity of inept children" sounds like petulant, childish whining to me, and it's not going to change anything for the better.  It may make things worse by making people think that whining is better than doing. 

The fact is that Summers and the others who run this country are part of a smart and powerful oligarchy who are well along in establishing a NWO.  The process was clearly underway in the US in 1913 when the Federal Reserve System was established.  It's 101 years later and very few people understand that fractional reserve banking, the power to set interest rates, and a fiat currency are the basis of the power of the international financial oligarchs. 

The only uncorruptable monetary system ever known has been the 100% gold standard with all currency being warehouse receipts (a formal, legal term) for gold held on deposit in a depositary institution, i.e., a bank. 

I recommend that everyone study Austrian economics and general semantics; an understanding of those subjects will enable a thinking person to get beyond the gross bullshit pedaled by the government schools, MSM, academic toadies sucking up for grant money, and the federal government generally.

Wed, 04/30/2014 - 00:06 | 4710855 Freedumb
Freedumb's picture

A fair point, though I would say that to move things along, we need both the pontificators to draw in the unconvinced, and the doers (once we reach a critical mass of those in agreement, drawn in by the pontificators) to effect change. Though on zerohedge, this sort of pontification is just preaching to the choir.

Wed, 04/30/2014 - 07:34 | 4711241 HardAssets
HardAssets's picture

Wanna know when the pontification is making a real impact ?

When your brother, sister-in-law, nephew, and mother know what the Federal Reserve is and the basics of how fiat money works.

Tue, 04/29/2014 - 23:14 | 4710754 DOGGONE
DOGGONE's picture

Scummitry by you all.
We'd be better off without you all.

Tue, 04/29/2014 - 23:15 | 4710756 ramacers
ramacers's picture

nobody has the stomach for blood - in the final analysis.

Tue, 04/29/2014 - 23:25 | 4710782 Dr. Engali
Dr. Engali's picture

Have you ever field dressed a deer before? There are two ways to do it. The first way is to hang them from a tree and cut them one from rib cage to asshole and let their guts spill out of them to the ground beneath. But often times when hunting there are no trees to hang them from so you have to cut them in the same manner then you reach up into their neck and cut out the esophagus. After that you split their pelvis and cut out their asshole. It's a very surreal experience feeling the warmth go out of their body while doing this. Once all your cuts are made you flip them on their belly and pull everything out. In both instances you drag the deer out and leave the rest for the wolves.

I'm just throwing that out there.

Tue, 04/29/2014 - 23:36 | 4710808 Soul Glow
Soul Glow's picture

And people wonder how we became so close to the earth.

Wed, 04/30/2014 - 01:16 | 4710943 Oh regional Indian
Oh regional Indian's picture


Wed, 04/30/2014 - 00:32 | 4710888 Zadok
Zadok's picture

Good memories worth refreshing these days.

Well stated.

Wed, 04/30/2014 - 01:45 | 4710989 WAMO556
WAMO556's picture

There was a term back in the day used ON people. It was called DRAWN AND QUARTERED. Pretty much what you just described....but for people!

Tue, 04/29/2014 - 23:16 | 4710757 williambanzai7
williambanzai7's picture

Douchebags compliment douchebags

Tue, 04/29/2014 - 23:35 | 4710806 Soul Glow
Soul Glow's picture

Do unto duchebags....

Tue, 04/29/2014 - 23:44 | 4710824 pupdog1
pupdog1's picture

Jabba the Economics Hut Summers should go back to losing billions for the Harvard endowment and otherwise just shut the fuck up.

Tue, 04/29/2014 - 23:50 | 4710833 Seek_Truth
Seek_Truth's picture

A bad workman quarrels with his tools.

Wed, 04/30/2014 - 00:01 | 4710846 Joebloinvestor
Joebloinvestor's picture

He should have used the DNK as an example.

Wed, 04/30/2014 - 00:22 | 4710876 Al Huxley
Al Huxley's picture

Hey Cougar, perfect subject for your next Tiger installment.  Kali would really dig this guy.

Wed, 04/30/2014 - 01:05 | 4710931 mobydick
mobydick's picture

A legend in his own mind, like all those other Uber Bankers & miscellaneous jerk-offs

Wed, 04/30/2014 - 02:16 | 4711015 evernewecon
evernewecon's picture




This is 2014.


Considering those who sell the 

bubble assets created by the insiders

get no interest income on the proceeds,

while the insiders who created the

bubble live off of QE, one has to

imagine Elizabeth Warren must by

challenged, as any objective person

would be, to find something not 

critical to say about banks'



As to Mr. Summers, I'd imagine

Mr. Spock putting it this way.


There are 2 possibilities.


1:  He doesn't conceive of people

making the right decision while

the insiders make the wrong one.


2: He does conceive of them but

simply sees the world as consisting

of insiders and outsiders, and, 

logically (Spock's Vulcan,) he's

one of the insiders.


They should take losses or have 

their stupid positions defaulted

on and/or annulled before depositors'

money's ripped off.  Their money 

shouldn't be sent into a resolution



This was 1997.


This was 2005.


It's looking like a consistent 8/9'ish year cycle.






Wed, 04/30/2014 - 02:30 | 4711021 PaperBear
PaperBear's picture

I have two words for his lordship Larry Summers and the second one is ‘off’.

Wed, 04/30/2014 - 10:16 | 4711839 waterhorse
waterhorse's picture

Fuck?  Sod? Piss? Kiss?  Die?

Wed, 04/30/2014 - 05:51 | 4711023 intric8
intric8's picture

Warren is not jewish. Even if she thought herself an 'insider', its nothing more than a meaningless accolade as far as the real powers that be are concerned. written ~1895:

“We will surround our government with a whole world of economists. It is for this reason that the science of economics is the chief subject of instruction taught by the Jews. We shall be surrounded by a whole galaxy of bankers, industrialists, capitalists, and especially by millionaires because, actually, everything will be decided by an appeal to figures.”

Good luck Warren, you're gonna need it

Wed, 04/30/2014 - 05:52 | 4711151 Moe Howard
Moe Howard's picture

She is Jeep Cherokee I understand.

Wed, 04/30/2014 - 08:20 | 4711326 CHX
CHX's picture

Rather Cherokee SHEEP leader.

Wed, 04/30/2014 - 05:58 | 4711153 james.connolly
james.connolly's picture

Warren is AIPAC


The MOSSAD ain't Jewish


The CIA ain't christian,


"She also is beating the war drum to attack Iran Progressive Democratic Hero Elizabeth Warren Enlists to Serve AIPAC's Pro-War Agenda ..."


Just google "Warren AIPAC", you could spend the rest of your life reading.

Wed, 04/30/2014 - 06:51 | 4711199 intric8
intric8's picture

Not a sole voice of opposition from our elected leaders with resolutions coming out of aipac. Its understandable. Anyone not on board with israel will be branded pro-iran or even pro-terrorism in the press. Through bribery and threat, Israel has coerced the cooperation of every american politician into unwavering support for israel and her agenda. Its well beyond mere cooperation actually, these politicians have been relegated to complete slaves and ass-kissers. Most sickening is Kerry's bullshit posturing, the lone jew holdout, feigning opposition to resolution 65 last year but then voting for it in the end. If a high profile jew is opposed to pro-israeli measures, our politicians surely are being fair, right? Wrong, its a cheap ruse that works on 90% of the population who only see the surface, and the remaining 7% who are sold on terrorism. What is america to do when she doesnt even recognize who the real enemy is? The level of our servitude to israel is not even debatable, it is readily apparent. Zion owns our american government and most of europe and there's virtually
nothing we can do about it. Lament the future of your children.

Wed, 04/30/2014 - 08:52 | 4711427 falak pema
falak pema's picture

The fact that EW writes this about Summers speaks kudos for her; as she is, if I understand the gist of this post, commenting on Summer's mindset about INSIDERS; not her own.

So she shows the ethics one expects from a public servant; which SUmmers does not.

In addition, on the big issue of TBTF banks she is the leading proponent in Congress against the TBTF/TPTB crony cabal and the dire necessity to render it accountable, transparent and hyper-regulated.

All publicly expressed postions that deserve the applause of ZH members, if they be sincere, irrespective of which side of the polticial divide they be. 

I don't know why you have to bring up racial cum zionist issues here in relation to EW, its not her political area of expertise in her public stance in Congress.

Even the guy you call "Horseface" in this forum-- as a non US citizen I don't use such liberties about US politicians--  has treated Israel as an "apartheid" state. So you can see apart from the diehards, the INSIDERS are starting to balk as supporting a pro-Israeli stand, whatever the cost. 

The ME cauldron is one hellva duck soup going sour for the US admin. 

Wed, 04/30/2014 - 05:10 | 4711124 Notsobadwlad
Notsobadwlad's picture

Yeah, to benefit from the corrupt crony system one must cede any power and independence they have to the corrupt crony system. It is like any club, particularly secret clubs/organizations. There is no free will on the inside. You checked it at the door and you are now a slave to the rules and leaders of the club.

I think I sleep a little bit better by maintaining my free will, ethics, morals and conscience. The insiders who sold out humanity for money and the chance to be close to power made their bed. Maybe some day they will find that bed to be on fire (Reichstag style). I pity them more than despise them for being so weak. To be slave to money and their fear is not something I envy them for. They have chosen to do terrible things to maintain their life in prison.

Most of the corrupted ones are simply the useful idiots that Lenin referred to. A corrupt system needs an army of useful idiots attracted by the illusion of significance.

Wed, 04/30/2014 - 05:34 | 4711136 CHX
CHX's picture

<<< inconvenient truth for the 99%

<<< we live in a democratic and fair society


Which is it ?

Wed, 04/30/2014 - 05:51 | 4711149 Moe Howard
Moe Howard's picture

Larry's big idea he got to try was exporting pollution to the third world - by moving manufacturing outside the USA.

We got a clean country with huge unemployment, China got a poisoned envirnoment with slave wages.


It all worked out. Ha ha. Jokes on humanity.

Wed, 04/30/2014 - 06:23 | 4711174 waterdude
waterdude's picture

I think all of you guys need to get day jobs.

Wed, 04/30/2014 - 07:45 | 4711266 overmedicatedun...
overmedicatedundersexed's picture

why do you think that uncontrolled illegal immigration and legal immigration such as H1b programs are always expanded even in the EU, because as fellow citizens wake up to the truth of who owns .govs the elite bring in those who have no idea of freedom or history of our countries - who then are led by the nose by the elites and off set those of us who have now seen the evil  wizards behind the curtain. think about it. connect the dots.

Wed, 04/30/2014 - 06:48 | 4711200 Fíréan
Fíréan's picture

The inner workings of the Fourth Reich not much different in degrees of arrogance from that of the the Third, just a different language.

Wed, 04/30/2014 - 07:00 | 4711210 El Hosel
El Hosel's picture

Its a big club, with big rules.

Wed, 04/30/2014 - 09:44 | 4711675 CHX
CHX's picture

And rule #1 of big club is...

Wed, 04/30/2014 - 07:22 | 4711234 esum
esum's picture

the invisible hand trumps libtards.... economic and political alike

Wed, 04/30/2014 - 07:29 | 4711242 WhyWait
WhyWait's picture

Lizzie is soft on Israel, willing to talk war.  That worries me.

She says a lot of the right things.  So did Obama.  Like Obama, with whom she's never publicly broken, she could be the latest tool to coopt the people's anger.

But she's doing something very different from other big players, which could be critically important.  She's calling on the people to organize, to demand change, to act together to bring their anger to bear on the task of battering down the walls. That is what FDR did that made him the most hated politician in the history of the Board Room and Country Club set.  And what set the stage for the end of the Guilded Age and the Era of the Middle Class.

If enough people bring enough anger and detremination to that task the elite will either have to yield some ground and the people will rush in, or they will have to explicitly shut down the pretense of democracy and the people's rage will spill out into the public squares and streets.

She could then become the instrument of the devine wrath, the great "trampling out the vintage" that's coming.  Or not.

I'm watching her closely.  We need hope.  But hope has become a highly suspect commodity these days. 

Wed, 04/30/2014 - 13:18 | 4712735 Blood Spattered...
Blood Spattered Banner's picture

Warren is a career bureacrat, and a Harvard economist.  She helped administer the TARP funds back in 2008.  This is another Obama in the making.  She talks tough, but is just as dependent upon the status quo as Jamie Dimon.

Wed, 04/30/2014 - 16:25 | 4713590 WhyWait
WhyWait's picture

True, true, true. Hope not, we'll see. 

Some of us are keeping an open mind, interacting with her, pushing her.  Who she really is will be revealed - and shaped - by her responses.

Wed, 04/30/2014 - 07:41 | 4711259 AdvancingTime
AdvancingTime's picture

Mommas in America were discouraged in a song many years ago from letting their children grow up to be cowboys, it appears to have been a reasonable decision.

Today after viewing the lifestyles associated with many career paths, politics and the route of so called "public service" seems to offer much potential. A career in politics can grant you a lifestyle where you rub elbows with the ultra wealthy and the country's most powerful titans of business and industry. More in the article below.

Wed, 04/30/2014 - 07:55 | 4711283 Stanley Lord
Stanley Lord's picture

Warran is a Harvard, status quo, Marxist insider too.

Wed, 04/30/2014 - 07:56 | 4711284 NuYawkFrankie
NuYawkFrankie's picture

Larry's porcine snout has been stuck in the trough so long, he can't tell a turd from a truffle.

You, Larry, are a turd - a turd of the first order - that thinks it's a truffle.


Wed, 04/30/2014 - 08:26 | 4711340 CHX
CHX's picture

Summery [pun intended]: Douche 1 to douche 2: "I smile when you fart" 

Wed, 04/30/2014 - 08:26 | 4711341 blindman
blindman's picture

"...Now it is extremely important to understand, as well as highly instructive, just how these HORSEMEN operate, as well as how such a state of affairs could have evolved. The operative words that well describe the MO of all who had a hand in its creation, once again, begin with “D”. The handiwork of those responsible for the creation, maintenance and destruction of the now legendary corrupt, corporate, crony capitalist system will eternally be known for its DECEPTION, DUPLICITY, DECEIT and DOUBLE-DEALING. At every level of formulation and implementation of the aforementioned policies were these 4 dubious characters employed with perfect timing and extraordinary cunning. From the US Senate to the US House, from the POTUS & VPOTUS to the SCOTUS, from the US Treasury to from the World Bank & IMF, from the SEC to the FTC, from the Federal Reserve Bank to the Bank of England, from the Council on Foreign Relations to the Trilateral Commission to the Bilderbergers, from the last of Wall Street Investment Banks to the still standing(?) major Commercial Banks, from the Big Four Auditors to the Big NYC & DC Law Firms, from the K Street Lobbyists to the DC Think Tanks, from the transnational Oil Companies to the Military/Security/Industrial Complex, as well as the rest of Corporate America, they were all materially invested and substantially complicit in this CON job of the millennium. From the NYSE to the NASDAQ, from the Dow Jones to the S&P 500, from the WSJ & NYT & WASHPO to FORBES & FORTUNE & FINANCIAL TIMES, from to to, they all enthusiastically participated in the making of this bubble of BUBBLES. That’s right, the one that’s now deflatin’ faster than you can say The Hindenburg.

Really, thicker than thieves says it better than anything else in the English language." ...

Wed, 04/30/2014 - 09:02 | 4711471 LooseLee
LooseLee's picture

Would someone please execute this PINKO COMMIE already?

Wed, 04/30/2014 - 09:54 | 4711733 Son of Captain Nemo
Son of Captain Nemo's picture

Congratulations you evil son of a bitch for engineering the demise to what was once the most prestigious economic system "conceived in Liberty" the World ever produced.

I hate to complement you but you and your ilk are genius. 

Not because what you did should have failed to get you the influence and prestige with idle threats like this “quote” you made to Warren, but that the majority of us prostrated ourselves before you to make you the success you should have never been!


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