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Former Mafia Boss Tells CNBC: "Stocks Are In A Bubble, Buy Physical Gold"

Tyler Durden's picture




 

Michael Franzese, a former mob boss for the Colombo crime family in New York (and GoodFellas character), told CNBC, "there's a bubble there that's going to burst at some point and when it does it's not going to be good," but there is another reason he says investors should avoid the U.S. stock market - "I did a lot of things at times with people on Wall Street.. a lot of guys are shady and they did shady things with me and I don't trust them. And I don't like other people that I don't know really well taking care of my money." As we noted earlier, his advice is to hold gold (in Physical bullion bars not ETFs), because "there will always be something there," unlike stocks "where in our country, you go to sleep, everyone tells you everything is wonderful, you wake up and everything is gone."

 

 

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Sat, 08/23/2014 - 19:21 | 5135412 q99x2
q99x2's picture

BTFD gone bitchez

Sat, 08/23/2014 - 23:37 | 5136084 TeamDepends
TeamDepends's picture

Tyler, WTF is going on here?!?! What happened to this thread? It started off with cheif cock then had a nice back and forth with us and Pladizow... Hello?

Sun, 08/24/2014 - 00:07 | 5136160 TeamDepends
TeamDepends's picture

Wow, down the memory hole! And not soon after we said the word "joo" on another thread. Hey francis, meet us at Las Fuentes tomorrow, looks like we're done here.

Sun, 08/24/2014 - 00:36 | 5136214 James_Cole
James_Cole's picture

Wow, down the memory hole! 

Tyler seems to be torching any threads where those pesky spam bots ("I make 15k / mo from home... yada yada") have been mucking about, doubt it's related to general content. 

Sun, 08/24/2014 - 09:42 | 5136726 GetZeeGold
GetZeeGold's picture

 

 

I want to make it perfectly clear.....I don't work for the mafia.

 

What's that?

 

Forget I said that.....I guess I do. I owe how much to Paulie? When the hell did that happen?

https://www.youtube.com/watch?v=ZPtjyqgZAUk

Sun, 08/24/2014 - 09:53 | 5136743 BaBaBouy
BaBaBouy's picture

It's Pretty Fecking SAD When We Have To Rely On The MAFIA BOSS Over The Banksters For Good Ole Honest Advice ..... MAKE SURE YOU HAVE Phys GOLD Bitchies...

Sun, 08/24/2014 - 09:54 | 5136766 GetZeeGold
GetZeeGold's picture

 

 

Well at least CNBC seems to be coming around. They put the guy on....just sayin.

Sun, 08/24/2014 - 10:24 | 5136841 Parabox
Parabox's picture

But look at who they allow to be the messanger.  A (former?) criminal.  So it is to say that only criminals would think this way.

Sun, 08/24/2014 - 10:49 | 5136878 Davalicious
Davalicious's picture

Don't think you can play the jews at their own game. George Washington posted a graph of gold dominance for nations since medieval times. It coincided with countries controlled by jews and moved on when the population threw them out. Jews control shineys. What if they drop PMs,  or just Gold? 

Jews control virtually every country.  Those hold outs are subject to subjugation by jews poodles; US, UK, etc.

Sun, 08/24/2014 - 10:58 | 5136921 espirit
espirit's picture

<first time censored on ZH>

Hmmm... I know where the soft spots are.

Post ending with .Gov wants it all.

Sun, 08/24/2014 - 11:45 | 5137032 oudinot
oudinot's picture

I've dealt with bankers/financiers and mobsters.

I would trust a mobster way before I would trust a banker.

Sun, 08/24/2014 - 09:46 | 5136741 BaBaBouy
BaBaBouy's picture

.

Sat, 08/23/2014 - 19:22 | 5135413 Rootin' for Putin
Rootin&#039; for Putin's picture

SSSSSHHHHHH, dont tell everyone, let the suckers buy stocks.

Sat, 08/23/2014 - 19:31 | 5135438 disabledvet
disabledvet's picture

Shhhhh. Don't tell anyone but now is the time to snort...errr, I mean SHORT EVERYTHING!

Sat, 08/23/2014 - 21:18 | 5135698 indaknow
indaknow's picture

Thats the problem or maybe the anwer. the suckers all left the last time they got sucked in. And the ones who didnt arn't suckers, there fools and we all know a fool will soon part with their money

Sun, 08/24/2014 - 00:38 | 5136217 James_Cole
James_Cole's picture

Yea we be real suckers out here. 

http://www.ispyetf.com/app_files/PDNewsletter_Images/DJIA112013.png

The horror!!

Sat, 08/23/2014 - 19:23 | 5135414 Cognitive Dissonance
Cognitive Dissonance's picture

I do not dispute this person's message. But would someone please explain to me how an ex-mafia boss is any more or less credible than any other person carrying the same message?

We truly are a very sick society.

Sat, 08/23/2014 - 19:27 | 5135431 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

CD, this dude has ties to the highest people in power through the mob. Should we trust him? Probably not. He walked away from the mob when most are carried away in a casket. He even testified against the mob which is another quick way to sleep with the fishes. He might be telling the truth.

Sat, 08/23/2014 - 19:56 | 5135495 Cognitive Dissonance
Cognitive Dissonance's picture

If he walked away from the mob, then testified against the mob and he isn't sleeping with the fishes he is being protected, or at least was protected, by people even more powerful that the mob. Who owns, or owned, him?

Like I said I don't dispute his message. I just wish to know why he is any more believable simply because he is an ex-mafia boss turned motivational speaker.

Sat, 08/23/2014 - 20:02 | 5135516 knukles
knukles's picture

Talking about those turned motivational speakers

https://search.yahoo.com/search?p=YouTube+wolf+of+wall+street+buy+this+p...

Sat, 08/23/2014 - 20:19 | 5135560 fonzannoon
fonzannoon's picture

"It's a good insurance policy, the government can screw up the currency"

 

https://www.youtube.com/watch?v=VPd6BTzU_0c

Sun, 08/24/2014 - 09:48 | 5136749 GetZeeGold
GetZeeGold's picture

 

 

Should we trust him?

 

Well, we trusted Obama....and that's been going pretty damn good.

 

So what the hell......he's in.

Sat, 08/23/2014 - 21:57 | 5135789 swmnguy
swmnguy's picture

I've worked with that guy, in his capacity as a motivational speaker.  What a skeevy little bastard. Hair plugs, fake tan; just being around him for 5 minutes I started to taste that peculiar bitter post-nasal drip, without having done coke since the Reagan's second term.  He's very amused by his past antics.

Sat, 08/23/2014 - 21:17 | 5135573 blindman
blindman's picture

i don't think he ever actually testified against any
mob members. he did 10 years in some prison and then
went on the lamb with no apparent protection from
the government. i don't find him anymore credible
than anyone else, perhaps more dramatic and interesting,
but not more credible. i suppose it is perversely
and ironically refreshing to be hearing financial advice
from a confessed murderous con artist and criminal who
leads with those credentials? the not haha funny just
doesn't stop.
.
who wants to hear the words, stories and experience of
someone who worked all their life within the boundaries
of what they considered ethical behavior and law and
lost it all to a chronic illness of a family member,
or some similar story?
.
ps. generally, his scam to fame and riches was a
criminal exploitation of the tax collecting system
of his day as it applied to retail gasoline sales
taxes. the time frame of enforcement created a
window of opportunity for extortion of those monies.
when the tax man came around the operation was busted
out, flipped, and the process started over again.
pretty simple, criminal and very profitable. that
was the basic business plan being copied by the international
global financial community today. see tisa trade agreement.

Sat, 08/23/2014 - 23:17 | 5136034 Freddie
Freddie's picture

I doubt anyone posting here watched the video.  He said #1 that he did business with Wall Street guys when he was in the mob and he does not trust Wall Streeters. 

As far as his early life, he was born into it. Bill Bonnano Jr was another one.  Sometimes you doi what your parents want you to do.

Sat, 08/23/2014 - 23:21 | 5136046 blindman
blindman's picture

there was documentary done on this
guy, he lays it all out almost.

Sun, 08/24/2014 - 00:12 | 5136166 Money Squid
Money Squid's picture

I was watching a documentary titled cocaine cowboys and one of the major players talked about how much money he was pulling in. He then explained he made a major donation to the republicans and received a nice thank you letter from one of the highest ranking republicans at the time. I forgot his name but you will immediately recognize it. They are all the same.

Sun, 08/24/2014 - 11:00 | 5136929 Bendromeda Strain
Bendromeda Strain's picture

Obama intentionally turned off the default credit card verification for his donations, which resulted in a hilarious pile of thank you letters to Mr. Adolph Hitler and Mr. John Galt, etc. I guess they forgot to make that documentary, cuz you never saw it on the snews.

Sun, 08/24/2014 - 20:10 | 5138557 Money Squid
Money Squid's picture

The guys name was Howard Baker, White House Chief of Staff

You can see the clip on youtooob titled "cocaine cowboys: befriending the republican party"

Sun, 08/24/2014 - 03:07 | 5136424 sessinpo
sessinpo's picture

CD  If he walked away from the mob, then testified against the mob and he isn't sleeping with the fishes he is being protected, or at least was protected, by people even more powerful that the mob. Who owns, or owned, him?

Like I said I don't dispute his message. I just wish to know why he is any more believable simply because he is an ex-mafia boss turned motivational speaker.

---

You are way over thinking it.

Sat, 08/23/2014 - 20:05 | 5135521 blindman
blindman's picture

Unprecedented Wealth, Debt Slavery and Conditioned Consciousness
By David DeGraw
Global Research, June 06, 2013
http://www.globalresearch.ca/unprecedented-wealth-debt-slavery-and-condi...
.
Inside the Global Banking Intelligence Complex, BCCI Operations
Part II
By David DeGraw
Global Research, October 12, 2010
http://www.globalresearch.ca/inside-the-global-banking-intelligence-comp...
.
"Amped Status Editor’s Note: The following is Part II of David DeGraw’s new book, “The Road Through 2012: Revolution or World War III.”
To get a more complete understanding of our current crisis, we need to look at the history of events that led up to it. We need to peer deeply into the inner workings of the Global Banking Intelligence Complex. Without acknowledging and exposing the covert forces that are aligned against us, we will not be able to effectively overcome them."
I: All Roads Go Through BCCI
..."Many of the failed S&L thrifts served as secret intelligence shell companies and were traced back to BCCI and the CIA. In a study entitled, “Organized Crime, The CIA and the Savings and Loan Scandal,” Criminal Justice Professor Gary W. Potter explains:

“It is not our intent to discuss the unethical and even illegal business practices of the failed savings and loans and their governmental collaborators. The outlandish salaries paid by S & L executives to themselves, the subsidies to the thrifts from Congress which rewarded incompetence and fraud, the land ‘flips’ which resulted in real estate being sold back and forth in an endless ‘kiting’ scheme, and the political manipulation designed to delay the scandal until after the 1988 presidential elections are all immensely interesting and important. But they are subjects for others’ inquiries. Our interest is in the savings and loans as living, breathing organisms that fused criminal corporations, organized crime, and the CIA into a single entity that served the interests of the political and economic elite in America. Let us begin by quickly summarizing the most blatant examples of collaboration between financial institutions, the mob, and the intelligence community….

First National Bank of Maryland…
Palmer National Bank…
Indian Springs Bank…
Vision Banc Savings…
Hill Financial Savings…
Sunshine State Bank…

All told at least twenty-two of the failed S & L’s can be tied to joint money laundering ventures by the CIA and organized crime figures. If the savings and loan scandals of the 1980s reveal anything, they demonstrate what has often been stated as a maxim in organized crime research: that corruption linking government, business, and syndicates is the reality of the day-to-day organization of crime. Investigations of organized crime in the United States, Europe, and Asia have all uncovered organized crime networks operating with virtual immunity from law enforcement and prosecution.”" d.d.
.
http://www.thirdworldtraveler.com/CIA/S%26L_Scandal_CIA.html
Organized Crime, The CIA and the Savings and Loan Scandal

Internet article

The savings and loan scandal of the 1980s has been depicted in a myriad of ways. To some, it is "the greatest ... scandal in American history" (Thomas, 1991: 30). To others it is the single greatest case of fraud in the history of crime (Seattle Times, June 11, 1991). Some analysts see it as the natural result of the ethos of greed promulgated by the Reagan administration (Simon and Eitzen, 1993: 50). And to some it was a premeditated conspiracy to move covert funds out of the country for use by the U.S. Intelligence Agency (Bainerman, 1992: 275). All of these depictions of the S & L scandal contain elements of truth. But to a large degree, the savings and loan scandal was simply business as usual. What was unusual about it was not that it happened, or who was involved, but that it was so blatant and coarse a criminal act that exposure became inevitable. But with its exposure, three basic but usually ignored "truths" about organized crime were once again demonstrated with startlingly clarity:

There is precious little difference between those people who society designates as respectable and law abiding and those people society castigates as hoodlums and thugs.

The world of corporate finance and corporate capital is as criminogenic and probably more criminogenic than any poverty-wracked slum neighborhood.

The distinctions drawn between business, politics, and organized crime are at best artificial and in reality irrelevant. Rather than being dysfunctions, corporate crime, white-collar crime, organized crime, and political corruption are mainstays of American political-economic life." ....etc.

Sat, 08/23/2014 - 23:22 | 5136053 Freddie
Freddie's picture

Another one was Riggs Bank in Wash DC.

http://en.wikipedia.org/wiki/Riggs_Bank

Sat, 08/23/2014 - 19:55 | 5135494 Yen Cross
Yen Cross's picture

  Cog, respectfully<> Take a step back, and think about how unique inventions and ideas end up in the hands of "BAD GUYS".

  Certain ideas, that worked in a certain time period in History, are RE-Exploited?

   You're a "Man of Honor" Cog... I'll fight by your side.

Sat, 08/23/2014 - 20:18 | 5135557 seek
seek's picture

I think the most credible part of his message is "don't trust wall street."

Seriously, here you have someone that was a major player in organized criminal enterprises -- hardly a trustworthy endeavor -- saying you can't trust wall street. So it carries credibility in a pot-calling-kettle-black, takes-one-to-known-one kind of way.

Of course, none of this is really new or shocking.

I look forward to the day when a new organized group arises that is differentiated by truth-telling, reliability and transparency. God knows we need it right now.

Sat, 08/23/2014 - 21:51 | 5135772 El Hosel
El Hosel's picture

He is not selling anything... That's how, or does he have a book out?

Sun, 08/24/2014 - 00:53 | 5136240 Jstanley011
Jstanley011's picture

Movie, an October release titled God the Father.

 

Sat, 08/23/2014 - 19:24 | 5135423 Yen Cross
Yen Cross's picture

  This guy is correct! Extortion, Racketeering, Embezzlement, ARE ancient forms of control.

  Fractional Reserve Lending> at its best...  Break A Leg.

Sat, 08/23/2014 - 19:37 | 5135444 indaknow
indaknow's picture

Talk about the pot calling the kettle black. no wonder theres only 9 comments, lol. (wow 2 posts in 2 yrs. must be the "Jack"

Sat, 08/23/2014 - 19:42 | 5135456 Yen Cross
Yen Cross's picture

   It's GMT-5.  In "Sin Ville"... The drunk 'RATS' should start stirring in about 2-3 hours.

Sat, 08/23/2014 - 19:46 | 5135470 craus
craus's picture

Last week saw Feds destroy GOLD and burn treasuries. I guess they figure all that printing

got the dollar worth shit paper. No way Fed can ever pull out or else this house of cards will fall.

Sat, 08/23/2014 - 19:48 | 5135473 bentaxle
bentaxle's picture

Nah. he looks like someone I know works for Goldman Sachs. in fact they all look like him even the ones with tits. Does he work for GS? (If he does, always do the opposite of what GS says......)

Sat, 08/23/2014 - 23:53 | 5136127 RichardParker
RichardParker's picture

I figured he would have gone to work on Wall Street after he made "good time", maybe be an analyst for the airline industry?  I dunno?

http://en.wikipedia.org/wiki/Lufthansa_heist

Sat, 08/23/2014 - 19:48 | 5135478 alexcojones
alexcojones's picture

"A Mafia Crime boss and Chief Cock walk into a bar-"

 

Sat, 08/23/2014 - 20:04 | 5135519 bitterwolf
bitterwolf's picture

The crook turning in the crooked cop.Who cares.

Sat, 08/23/2014 - 20:17 | 5135553 ThroxxOfVron
ThroxxOfVron's picture

Michael Franzese is bullshitting.

No one quits working for the Mafia; they just get laid off for a while or go undercover.

IF he was a boss he's still in the system in one way or another.

IF he was a made man and he is still alive he's still in.  

Period.

Don't even try to watch his eyes or his hands; -watch your wallet, watch your business, watch your gold, watch your car and your house, watch your women and your kids, watch your friends and neighbors, and for god's sake watch your fucking watch 'cause IF this is the kind of POS that is being touted as giving good advice it's probably just about time for the shit to hit the fan...

Sat, 08/23/2014 - 20:17 | 5135556 fonzannoon
fonzannoon's picture

except he is saying that the shit is about to hit the fan, so how do you reconcile that?

Sun, 08/24/2014 - 07:35 | 5136570 ParkAveFlasher
ParkAveFlasher's picture

BTFD, or the bunny rabbit gets it!

Sat, 08/23/2014 - 20:47 | 5135622 GooseShtepping Moron
GooseShtepping Moron's picture

The Sicilian mob isn't what it used to be. The criminal underworld always exists, but individual crime families experience an "attrition" of sorts, as their members either turn legit or fade away. I have no trouble believing that Franzese went legit. He didn't originally pursue a mafia life. He was actually studying to be a doctor before the family convinced him that he needed to get out on the streets and make some money to help his ill father.

Sat, 08/23/2014 - 21:09 | 5135679 AustrianJim
AustrianJim's picture

Yeah, it's not quite like the old days when you really could not ever leave.

Sat, 08/23/2014 - 20:56 | 5135639 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

He is also a born again Christian.

He makes his living doing speaking engagements talking about his past warning people about the dangers of it.

Sat, 08/23/2014 - 23:47 | 5136118 pachanguero
pachanguero's picture

Amigo,  actually your incorrect.  When you say that no one quits working for the mafia.   Many people quit working for the mafia. And just disappear. Or go on to live normal lives.  Do you doubt me? I was DEA 23 years. See my pictures at my Twitter account Pachanguero2 I know Mafia.

Sun, 08/24/2014 - 03:11 | 5136427 sessinpo
sessinpo's picture

You still twitter?  You are so yesterday. I telegraph.

Sun, 08/24/2014 - 07:49 | 5136580 Moe Howard
Moe Howard's picture
Flag semaphore

That's where its at.

Sun, 08/24/2014 - 07:06 | 5136547 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Yes and you can buy your way out to retire. People change direction, focus, etc as they get older. If you don't give them an outlet to leave on good terms they tend to turn on you.

 

Mon, 08/25/2014 - 11:10 | 5140605 turnoffthewater
turnoffthewater's picture

ThroxxOfVron

"Michael Franzese is bullshitting." I hope most here at ZH understand this.

So where do we find equilibrium. The govt's do not like competition. EOS

Reread the article and replace him/he/his with govt. There lies the key. GL and prepare accordingly. OBTW, the mafia news disappeared @ 20 yrs ago. He's just one of the last fish thats why no one cares. The take over has already happened. Just look here for the evidence Sherlock:

http://www.gold-eagle.com/article/%E2%80%9Cmonetary-policy%E2%80%9D-gone-berserk

 

Sat, 08/23/2014 - 20:26 | 5135572 potato
potato's picture

Misleading title.

Nowhere in the story does it say he worked at Goldman Sachs...

Sat, 08/23/2014 - 20:35 | 5135598 Hagen
Hagen's picture

The bastard of moron, what he knows to markets?

Sat, 08/23/2014 - 20:43 | 5135615 pakled
pakled's picture

That settles it. I'm calling my coin dealer Monday and giving him an offer he can't refuse.

Sat, 08/23/2014 - 21:03 | 5135664 indaknow
indaknow's picture

Yeah and make sure you have some cotton baton in your mouth...you know.... to get the respect and all

Sat, 08/23/2014 - 20:48 | 5135624 Buck Johnson
Buck Johnson's picture

I believe what he said, did you see the way he dodged that question about him killing someone.  I understand why he did it because there isn't any statute of limitiations on murder unless and I mean unless he told the feds as part of his deal to testify on the mob and his crimes.  And when he made that comment about he bankers and stock brokers it makes complete sense.  He had to have used them to help in some ways move millions overseas and to central america when he was running that fuel scam that raked him billions.  I think he does has money hidden in places he just can't get to it or he's very smart about using it.

Sat, 08/23/2014 - 23:22 | 5136052 lakecity55
lakecity55's picture

He also did not rat since they hauled him back for refusing to testify.
And, yes, if he had the rank he is reputed to have, some body is in concrete in NJ.
Sounds like he tired of the shit show and turned himself around.

Sat, 08/23/2014 - 20:52 | 5135626 vulcanraven
vulcanraven's picture

Wasn't it not too long ago that CNBC wheeled out some teenaged female "day trader" to talk about how easy it is to make money in the stock market? Think about this for a second. The muppets that watch CNBC for financial advice see a little girl making money in the markets so they figure "hey, it must really be THAT easy! I'M GONNA JUMP RIGHT IN!!"

 

Now after constantly bashing gold, they bring on an ex-mafia boss (credibility?) to talk up gold. Read between the lines, the message is obvious, TPTB want the sheeple FAR away from PM's.

Sat, 08/23/2014 - 23:30 | 5136055 indaknow
indaknow's picture

TPTB have no fuckin clue.... hold on I'm getting a message on FB.... yes buy stawks at the ath, in fact I'm told to BTFATH, BTfD, buy buy and buy some more, buy when its up, buy when its down . buy on tuesdays or is that thursdays or friday now? doesnt really matter as long as you buy. If I ran my business that way I would be bankrupt but somehow  there is still people out ther with other peoples money doing just that. If you or I did that we be in jail yet the sheep keep throwing the money away. Economics is NOT a science "Folks" ita a way of having you decide to part with your money. this will never change but there are ways of preserving you hard earned $ and its got to do with keeping every cent away from the thieves. now its not all perfect ( I lost a fortune in a boating accident, fortunately prices were on sale) but theres many many ways to do this. most on here know this but unnfortunately many many more do not. Its about timing and its always best to be too early than late. then tell them all to fuck off. rant over.... goodnight .Ps you cant begrudge those of us who took advantage (as well as many of you) of the artificaial 5yr run, otherwise we would have been the bigger fools

 

Sat, 08/23/2014 - 20:58 | 5135638 indaknow
indaknow's picture

Mafia boss telling CNBC. wow this is fucking retarded (Am I allowed to say that ) fuck it, I'm saying it anyway. In fact this is the definition of tard to tard

Sun, 08/24/2014 - 00:05 | 5136151 Salsipuedes
Salsipuedes's picture

No, you cannot say RETARDED you Godless fucking asshole!

Sat, 08/23/2014 - 21:28 | 5135725 Bossman1967
Bossman1967's picture

It doesn't take an ex mafia so to tell us to much debt will fuck the system. Gold silver wont be worth shit until the collapse. All that paper PM is what there using to manipulate and keep everything in the black. They can print all the etf they want allot easier than dollars thats the game from a non mafia boss who could have been one. Rtflmao

Sat, 08/23/2014 - 21:32 | 5135734 No More Bubbles
No More Bubbles's picture

Wait, when was he Chairman of the Fed?   Oh, you said "Mafia" boss, so "small time" by comparision.........

Sat, 08/23/2014 - 21:46 | 5135759 blindman
blindman's picture

speaking of organized crime.
The Causes of the MH17 Crash are “Classified”. Ukraine, Netherlands, Australia, Belgium Signed a “Non-disclosure Agreement”
By Global Research News
Global Research, August 23, 2014
http://www.globalresearch.ca/the-causes-of-the-mh17-crash-are-classified...
.
the guilty party of murder of three hundred people
apparently obtained immunity through veto power in
a "non-disclosure agreement". this is what globalization
looks like in the west, absurd.

Sat, 08/23/2014 - 21:56 | 5135787 fukidontknow
fukidontknow's picture

We had some Italians try to be "mafia" round our town some twenty odd years ago. Turned out they weren't so keen on being gangsters after the local Maori gangs had finished with them - ha ha.  

Sat, 08/23/2014 - 22:04 | 5135807 kchrisc
kchrisc's picture

A crook calling the big-time crooks out. LOL

An American, not US subject.

Sat, 08/23/2014 - 22:16 | 5135836 HeavydutyMexica...
HeavydutyMexicanOfTheNorthernKingdom's picture

Here's a lesson for you kids, whenever you see a former heavy duty dude walking around free and clear it's because he's jumped to the other side....in other words he's an informant.

Sat, 08/23/2014 - 22:53 | 5135969 Professorlocknload
Professorlocknload's picture

So, what next? ISIS "John" coming on telling us to short the stocks?

Sat, 08/23/2014 - 23:15 | 5136010 blindman
blindman's picture

isis won't be an existential threat until
such time they produce a quotable
economist or movie critic, or, at least
a an oil company or a bank. when was the
last time 12,000 armed thugs created a
caliphate (excluding a financial caliphate)?

Sun, 08/24/2014 - 09:22 | 5136702 CHX
CHX's picture

Yes, he knows the head and shoulder pattern and knows just how and when to short this. /bitter sarc

Sun, 08/24/2014 - 23:48 | 5136144 Salsipuedes
Salsipuedes's picture

.Hey Paisano! Jus' don' go ta bed, capiche? 'Specially if yer in da mob!... Novato!

Sun, 08/24/2014 - 00:07 | 5136158 Money Squid
Money Squid's picture

why do I have more respect for this guy than our elected officials?

Sun, 08/24/2014 - 00:12 | 5136169 AgShaman
AgShaman's picture

CNBC = smash coming

Children of McMerica....you will believe this former crime boss

Thank You and Good Night!

Sun, 08/24/2014 - 00:30 | 5136207 CheapBastard
CheapBastard's picture

Right now we're in deflation for many sectors except food, health insurance and gas. Housing is a massive Bubble as is the stock market which the Fed and its owner, Bankers] prop up since most of merikans wealth is in their overpriced houses and their stocks. Pension plans are already seriously underfunded so if the market drops, they will be underwater even more.Gold, silver and prob oil are underpriced right now in comparison.

Sun, 08/24/2014 - 00:42 | 5136223 teslaberry
teslaberry's picture

financial 'news' interview ex-mafia. mafia flunkies who figured out how to sell books to admiring morons who think the mafia is what they see on tv.

if this is what is legally sponsored on legitiamte television as 'culture' for america. then , you realize your system is doomed.

Sun, 08/24/2014 - 03:45 | 5136446 Yen Cross
Yen Cross's picture

 Use your wisdom, for the betterment of mankind. Cheating your neighbor, is akin to cheating your Mother.

 Earn your money honestly.  T/B, once you're 45-50 you'll laugh at the things from earlier years. I'm in the best mental and physical shape.

Sun, 08/24/2014 - 13:47 | 5137330 teslaberry
teslaberry's picture

yen cross----

if the world is doomed, then a shrinking pie is the same as a termite mound whose major source of food has dried up. 

 

as a single termite living in a system i did not built, how can you expect me to want to better the termite mound, when my own way of making a living is collapsing, let alone those around me. 

I don't owe mankind anything . the idea of a greater good for greater mankind is an ideologically overgeneralized view of peace and love for all. 

it is a nice fairy tale. but when the world is collapsing around youu-----that fairy tale can get you killed or ruin your life . of coruse, maybe not being able to feed your kids well, or earn their love and respect as a provider is not a right that a head of household is entitled to, but there is nothing wrong with aspriing to be that . 

 

if you tell me that poverty is holy and the life of a mendicant is necessary to better mankind while the world collapses/contracts, i will point out that the communist chinese burned and destroyed hundreds if not thousands of budhist monasteries dedicated to the idea of the impoverished life. 

 

the impoverished life, and teaching fellow man is an honorable thing for sure. but when the world is collapsing , that life is no longer 'sustainable' and your self righteousness gives way to self preservation. 

 

how can you ask a man to die just for self righteousness and 'mankind'. is this not a belief in a higher 'mankind' consciousness? a pantheistic view of the transcendence of humanity? is this not an incporporation of the god concept into my duty to serve mankind?

 

this is a ncie belief. i like it. but indeeed it is often perpetruateed by those most selfish, most seeking to take advantage of the naive masses or those not so self-concerned. 

 

a generation of men my age---in their 30's is being destroyed. condemned to single fatherhood, no fatherhood, poverty, or to , at best being an efeminized second rate earner. a smaller and smaller group of men my age work in beaucracies , amies , police, government contracting offices, or one of many jobs serving the taxman , his system, and those who direct it from behind the scenes. 

 

how do you expect me to look at this and beleive i should care about 'mankind'. as the world collapses, i think this is a lie. one's duty is first and foremost to ones self and one's family. 

 

theer is a jewish aphormism in the old testament pirkey avot 1;14. 

from a famous historical jewish authority; hillel. 

http://en.wikiquote.org/wiki/Hillel_the_Elder

the quote is at bottom. 

  • m ein ani li, mi li? U'kh'she'ani le'atzmi, mah ani? V'im lo 'akhshav, eimatai?
  • If I am not for myself, then who will be for me? And when I am for myself, then what am "I"? And if not now, when?

 

i am not a religious person. but pirkey avot , and ecclesiates are the 2 books in the old jewish books (tanakh) that hold a lot of secular wisdom. so much so, they almost do not really belong in the bible. unsurprisingly they were both written in bablyon , during a time of great suffering for the jewish people. 

it is easy to misread the famous quote above. but it is about the yin yang of balance of interests. a man who cannot take care of himself , will always be a dependent ---needing to seek others help because he will not help himself. he is in part a parasite. a man who will only worry about himself , is worthless because a person provides value , and gives their life meaning and definition when they help others . if you help no one, you are nothing. 

and the time is now! not later, so get to achieving your balance right now!. 

 

it's a great famous quote in traditional  judaism commonly known to even many secular jews. helping your family is helping others.

there is also another quote which i cannot instantly attribute that talks about the priority of charity. you are supposed to give charity first to those around you, then to your commujity, then to the greater city you live, and so on and so one.

in a collapsing world------the biggest spheres of 'the world' and 'the nation state' are the ones that have been blown to bubble proportions and are collapsing the quickest. before you worry about those spheres, you must worry about the collapsing spheres around your personal life, family, friends..etc... 

if there's one thing i laugh about on these boards and i hope to laugh about in 15 years it's all the anti-semitism i see. people blame the jews because they are anti-semites. and  just because many of the figures in the fed are jewish, this just means they have a good excuse.

the scapegoating of the jews has happened many many times in history and the jews are a strong and smart people who have delt with scapegoating many times. the persistent 'kosher' 'tribe' and other coded language on this website comments are long and well established anti-semtitic jargon used to reinforce the idea that the 'jews did it'.

 

people are atoo scared to just take control of their own government by military force and rebellion so they blame the jews. this will not solve the problems. and is typical procedure of the hardcore anti-semites and natzi klans of families like the bush family.

divide and conquer in the middle east and divide and conquer right here at home in the usa. 

Sun, 08/24/2014 - 13:50 | 5137351 X.inf.capt
X.inf.capt's picture

WOW!

+1

Sun, 08/24/2014 - 05:38 | 5136496 NuYawkFrankie
NuYawkFrankie's picture

You seem to forget that the "mafia" reports to the Kosher Nostra that runs Goldman et al. So this dude might know something that you do not.

 

THink about it.

Sun, 08/24/2014 - 01:41 | 5136322 Notsobadwlad
Notsobadwlad's picture

With all respect to Francese (who has admitted to murdering people), gold is also still in a bubble and just as hard to eat as an equity.

Sun, 08/24/2014 - 05:52 | 5136500 huggy_in_london
huggy_in_london's picture

I just love the response when asked about wall street.  Think about it.  This guy is a self-confessed, reformed crook and he won't go near the stock market!!  Tells you everything you need to know!!

I respect him, at least he has balls. 

Sun, 08/24/2014 - 08:23 | 5136615 GFORCE
GFORCE's picture

So we now take investment advice from a broke ex mafia boss? Who never had to go to gold in his life time. As we say in britain... f**k off!!

Sun, 08/24/2014 - 08:31 | 5136629 SMC
SMC's picture

The only problem with holding gold and other high value density items in the USA and it's territories are government thugs inventing "suspicion" to "legally" seize your assets under civil forfeiture.

The US doesn't rate 3rd world status - "Just Us" have ushered in a new era of technologically enhanced scum and villainy.

Sun, 08/24/2014 - 09:57 | 5136721 d edwards
d edwards's picture

Invest in the stock market? Fugedaboudit!

Sun, 08/24/2014 - 10:02 | 5136791 falak pema
falak pema's picture

he escaped from sleeping with the fish.

Maybe he was good at chopping off horse's heads.

Must have had a guardian angel in the biggest Mob of NY; the Mayor's office! 

Now he dreams of waking up with a gold bar instead of a bloody head of horsemeat; or a plate of smelly fish.

Well, there is hope for all ! 

Sun, 08/24/2014 - 10:24 | 5136842 yogibear
yogibear's picture

The bigger gansters are the banksters now. The central bank heads are the top mobsters.

Sun, 08/24/2014 - 12:31 | 5137171 exonomic halfbreed
exonomic halfbreed's picture

My grandad was a banker for one of those dudes (one of the government protected informant types) and he told me to never trust a stock broker.  He made his money by buying and improving businesses.  His diversification was by way of exposure to many different companies which he and his friends controlled (weather public or not).  Later they would be sold for a handsome profit.  By the way, when your law enforcement agency makes a high level criminal an informant (what is the strategy there) you can bet .gov is not on your side.

Sun, 08/24/2014 - 13:31 | 5137314 bid the soldier...
bid the soldiers shoot's picture

If an 'ex' Mafia boss is telling everyone to buy physical gold, you know the 'Seven Families' are selling it hand over fist.

Sun, 08/24/2014 - 16:05 | 5137761 ToNYC
ToNYC's picture

A Distinction without a Difference; like a rubber or a douche, in you go his tortured mind, lost soul to lost soul.

Sun, 08/24/2014 - 18:28 | 5138242 dadoody
dadoody's picture

I agree with a lot of things posted on Zerohedge, but my problem was that I bought into gold and silver as it plummeted, and have been sitting on it, while my friends were making 8-12% returns in the market.

I was about to buy a house in 2011 at a low price and at a low rate, but reading the posts on here among other places, got me thinking that things were going to get worse or stay stagnant a long time, only for real estate to spike in my area, and I'm sort of priced out now. 

I agree that things are messed up, but if all I do is sit on the sidelines, I've been screwing myself for years now. Within the last year, I bought into facebook @ rock bottom prices and sold @ $73 which negated my losses in precious metals I accumulated over that time. I'm just breaking even at this point.

There's a lot of value in ZH, but, I guess my point is, you have to figure out how to use it to keep making money rather than sitting on the sidelines.

Sun, 08/24/2014 - 19:10 | 5138376 esum
esum's picture

fuggedabout 

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