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Hedge Fund Legend Julian Robertson Warns Of A "Complete Explosion" Unless Fed Contains "Boiling, Bubble" Market

Tyler Durden's picture




 

Legendary hedge fund manager Julian Robertson, who has been conspicuously absent from CNBC in recent months, spoke with Fox Business' Maria Bartiromo about his take on markets. He was hardly bullish, which may explain his absence from the cadre of CNBC bubble cheerleaders.

Robertson (in addition to some generic comments on the weather impacting the jobs numbers: apparently the weather only impacted the warmer March, not the freezing January and February) said that "the thing that worries me the most are the twin bubbles that are developing, certainly the Federal Reserve, the people that run their Treasury operations, are trying to create a bubble in bonds and they are doing it."

The other implied bubble of course is that of stocks, because with no upside left in bonds, capital appreciation starved investors have no choice but to go into stocks which as of today just hit 21x on a forward GAAP PE multiple surpassing even David Tepper's 20x bogey.

Asked how the bubble will end, Robertson notes that "nobody knows when bubbles are gonna burst. As a child when you are blowing a bubble you don't know when it's gonna burst and that's part of the fun of the "bubble" bubbles, but this is more serious and I am very worried about it"

Will a bursting bond bubble disrupt the equity rally? Robertson is honest enough intellectually to admit that bond and stock bubbles are connected and says that a bursting bond bubble will crush stocks and the Fed is "frightened to death" over fears a plunge in stocks will also crush the economy.

So what is the solution? According to Robertson the Fed must act and hike rates soon because “the economy warrants it and I think [the Fed is] not crazy enough just to let this thing boil over into complete explosion."

He adds: "I think that eventually we are going to see the Federal Reserve do the responsible thing which is put a little lid on this tea kettle that's boiling over, but I don't know when that's going to be. That will trigger a little bit of a slowdown in the overall economy." 

Considering the Fed allowed both prior bubbles boil over into a "complete explosion" and considering this time it is not just the Fed but the BOJ, the ECB, the BOE and the SNB, one wonders why Robertson is so confident that nearly a decade after the start of ZIRP (which in Europe is now NIRP) some academic, somewhere, deep in the bowels of the Marriner Eccles building will do the right now.

Robertson's conclusion: we can certainly see a 2008-like market crash because "the bigger this bubble gets, the bigger the burst."

I am looking at a bubble that is almost sure to pop at some time and I don't know when it's going to happen, but I know it's going to happen.

His conclusion, and the reason why there is no CNBC any time in Julian Robertson's future is his answer to how big a selloff we could get: "I don't think it's at all ridiculous to think of a selloff like we saw in 2008." Obviously, he uses the term "selloff" loosely.

* * *

And so we hit peak irony: when even those who reap the biggest benefits of the Fed's idiotic, bubble-blowing policies explicitly warn that these same policies will lead to a bubble crash that results in a ~70% collapse in stocks. Only this time it will be far, far worse, because once the Fed loses credibility, and no amount of verbal intervention will restore some faith in the grand Ponzi, its only recourse will be to - literally - paradrop money from the skies - an endgame Bernanke himself warned about some 13 years ago. In fact, this final bubble burst may well unleash the war and/or revolution that Paul Tudor Jones warned about.

So buy stocks... unless you want mushroom clouds to become a permanent neighborhood fixture. 

Full interview below:

 

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Mon, 04/06/2015 - 16:34 | 5964523 Tinky
Tinky's picture

The Fat Lady is being drowned out.

Mon, 04/06/2015 - 16:39 | 5964551 Rainman
Rainman's picture

NAW ! ... Granma Yellen will make for the perfect patsy !

Mon, 04/06/2015 - 16:44 | 5964577 outamyeffinway
outamyeffinway's picture

Too many people expect a crash. Is it from 30,000 feet?

Mon, 04/06/2015 - 16:47 | 5964585 Tao 4 the Show
Tao 4 the Show's picture

Delaying tactic, or wind up for the big one?

That is the question.

Mon, 04/06/2015 - 16:55 | 5964613 Pladizow
Pladizow's picture

I'm no billionaire - but won't higher rates attract additional international capital and further inflate the bubble?

Mon, 04/06/2015 - 16:57 | 5964631 macholatte
macholatte's picture

 

 

 

"nobody knows when bubbles are gonna burst.

 

No shit Sherlock!

How many years have I been reading this same shit?

 

….an endgame Bernanke himself warned about some 13 years ago.

 

OK.  Thanks for the refresher.

 

 

Men rise from one ambition to another: first, they seek to secure themselves against attack, and then they attack others.

Niccolo Machiavelli



Mon, 04/06/2015 - 17:51 | 5964801 CClarity
CClarity's picture

It continues to amaze me that talking heads speak of a 25 bp rise in rates (think Fed Funds) as if it will tank borrowing by companies.  I actually think it will increase borrowing, as they rush to get in before 50bps and 75 etc...  It could actually put reasonable business investment and activities back to a healthy keel.

Oh sure, the stock price bubble would pop and devolve for a while.  But that isn't the economy anyway.  

Hurry up stupid FED!

Mon, 04/06/2015 - 18:39 | 5964942 eatthebanksters
eatthebanksters's picture

I'm not sure I understand....is he saying our economy is booming or are our asset prices booming?  I certainly don't see the boom in our economy...

Mon, 04/06/2015 - 19:30 | 5965123 green sheen
Mon, 04/06/2015 - 22:05 | 5965473 McCormick No. 9
McCormick No. 9's picture

We're in a coffin corner. If the Fed raises rates, the bubble will burst in a massive deflationary meltdown that will make all other economic catastrophes seem like grandma Sunday school teacher queefs by comparison. If the fed keeps rates low, the bubble gets bigger, making the deflationary meltdown even worse.

We're so fucked.

Mon, 04/06/2015 - 23:57 | 5965647 aVileRat
aVileRat's picture

Everything he said is bang on, just 2 years too late for his sector.     

Tue, 04/07/2015 - 02:45 | 5965903 DJ Happy Ending
DJ Happy Ending's picture

Everything is looking more Japanese every day.

Tue, 04/07/2015 - 05:10 | 5965992 rocker
rocker's picture

Yes, We are worse than Japan now !    That being said, inflation still bit the people as their investment dollars went to hell.

Look at who benefits. Oil down for two months. Complete reverse in "TWO" days.  Amazing.

If this is not maniplated and fraudulent futures markets, then, what is ?

Goldman's special software in the wrong hands does manipulate markets, as Goldman said when their software got stolen.

Amazing, Eh. I feel better knowing Goldman with the FED holding their hands has the program working for our good.  (SARC) 

Tue, 04/07/2015 - 06:55 | 5966056 GetZeeGold
GetZeeGold's picture

 

 

 

Let it explode...a good education is expensive.

Tue, 04/07/2015 - 08:13 | 5966180 perkunas
perkunas's picture

"Russian" thats all you need to know, its called propaganda, Nato bad, America bad, Putin good.

Go back to moscow please, Im not buying it.

 

Tue, 04/07/2015 - 00:20 | 5965723 donsluck
donsluck's picture

I disagree. I think raising rates will help the economy. I, for one, am keeping my income to a minimum because I get negative returns on savings.

Tue, 04/07/2015 - 02:11 | 5965865 ThirteenthFloor
ThirteenthFloor's picture

No. 9 -> Yes agree. A false demand for bonds is created by derivative instruments, you can see a general unloading UST by foreigners, yet still UST demand remains relatively strong. Rate change will impact not only these derivative models but the interest rate swaps which hinge on a fixed or lower forward rates, reversing that to higher forward rates bust these models. Fed cannot raise rates without busting several areas, bonds, stocks, and retail lending. Raising rates today is not like the Volker days. I don't buy the notion .25-.50 uptick gets substantial investment monies back to USA that overtake the other wreckage higher rates cause.

Mon, 04/06/2015 - 21:09 | 5965352 weburke
weburke's picture

higher rates wil indeed make money come to the us. Not to chase yield, but to flee other countries who are in a very hard spot with the stopping of QE and any increase make it harder to repay 9 trillion in debt that overseas folks have to pay back in -dollars ! 

Tue, 04/07/2015 - 02:15 | 5965871 ThirteenthFloor
ThirteenthFloor's picture

Higher rates won't bring that much back what you'll see more defaults. Then deflationary forces. I agree with 1932 comment below.

Mon, 04/06/2015 - 17:06 | 5964658 saveandsound
saveandsound's picture

Not necessarily. Take a look at 1932.

Mon, 04/06/2015 - 19:46 | 5965170 BullyBearish
BullyBearish's picture

Ye who have little faith...Fisher/Yellen will TRY to do a DRAHGI over the next two years and with nothing more than JAWBONING, gently "normalize" this market

 

GOOD LUCK

Mon, 04/06/2015 - 20:08 | 5965225 Handful of Dust
Handful of Dust's picture

The Bubble is too big already ... the horses are out of the barn and have run away. Houses 300%-400% overpriced and those owners are stuck in them with nobody to buy now, esp those O&G employees fired and the millions of minimum wage peeples.

 

Wall Street and Bankers still raping the people and CEOs handed 100x their average workers pay not including their multimillion dollar Golden parachute. Bernank and Greenspan should hav ejust let the Subprime disaster correct back in 2006-2008 and we'd be on our way now with a solid economy [and many financial criminals in jail].

Mon, 04/06/2015 - 20:15 | 5965232 TeethVillage88s
TeethVillage88s's picture

Absolutely Handful of Dust.

Mon, 04/06/2015 - 20:32 | 5965272 TeethVillage88s
TeethVillage88s's picture

Makes me wonder about 1976 & Jimmy Carter Era with High US rates... Foreigners buy US LT Treasuries??

Mon, 04/06/2015 - 17:09 | 5964668 negative rates
negative rates's picture

YES, and then all you have to do is what they want you to do, easy as pie.

Mon, 04/06/2015 - 18:57 | 5965016 ajax
ajax's picture

 

 

Hedge Funds? Bubbles? Chicken/Egg...

Rep. Tom Davis of Virginia: an incredible piece of shit with a mouth. See for yourself

https://www.youtube.com/watch?v=wsyq93r-huk

 

Mon, 04/06/2015 - 22:22 | 5965502 McCormick No. 9
McCormick No. 9's picture

To Pladizow:

The answer to your question is NO, for several reasons:

1. What additional international capital? Where from? Russia? China? Certainly not Europe.

2. Banks get cheap money that they dump into the stock market rather than loaning to you & me because we are broke and can't pay back what we owe already. That's why the market works on inverse economic news. Bad news means more cheap money, and a better stock market. Make the money more expensive and WHAM! the banks pull their profits out of the market and circle the wagons. The market tanks, and all hell breaks loose.

3. i think I already said this, but I'm going to say it in a different way: Everybody's fucking broke and in hock up to their eyeballs. The only thing, and I mean the only thing that's keeping this economy afloat is cheap money. No-one's buying anything. There aren't any jobs. Where do you want to look? Europe- fucking broke. China: way fucking broke, and sitting on a bubble, just ike us. Brazil: Fucking broke. Russia- really the only bright spot, despite sanctions, but even the Russkies can't save us this time.

4. The only people who want higher rates are seniors. They will get maybe one hefty check before their pension funds and investments go up in smoke and they get to poke in dumpsters for stale donuts with a sharp stick, only the youth will get the donuts before they will, and the old folks starve to death, or eat their bichon frise, and THEN starve to death.

 

Mon, 04/06/2015 - 23:13 | 5965624 Tall Tom
Tall Tom's picture

I think that he required a basic understanding of the mechanics as described below.

 

I can debate some of your points The people who have the existing bonds have assets, for example. These large players may be insolvent but until hat has been declared, or, they become illiquid then they are still players.

 

And they will dump their existing bonds. I am really amazed that they have not frontrun this in greater numbers. They must not believe that the Bitch is that crazy.

 

Stock and Flow, dude.

 

Or Shock and Awe.

Mon, 04/06/2015 - 23:01 | 5965601 Tall Tom
Tall Tom's picture

but won't higher rates attract additional international capital and further inflate the bubble?

 

No.

 

Paradoxically that will crash the Bond Market. People will sell the lower yield bonds, en masse, seeking the higher yield of the newly issued bonds.

 

Bonds are issued at a fixed Interest Rate. Thus the price for the existing Bonds will decline dramatically while prices for the new issuance will soar due to the supply and demand.

 

Since Banks hold Bonds as Reserves when the Price Declines happen the Banks are at risk of insolvency due to the FRACTION of reserves they hold.

 

At current levels a 25 Basis Point increase in Bond Rates equates to a whopping 12% increase on annual return giving everybody incentive to dump their existing bonds and purchase the new issuance.

 

If Yellen does something like that then she will irreparably destroy the Bond Market and crater the economy.

 

GO YELLEN. GO, GIRL, GO. RAISE THOSE RATES.

Tue, 04/07/2015 - 00:24 | 5965728 donsluck
donsluck's picture

The next collapse will not be televised. The infrastructure is in place to rescue the banks seemlessly behind the scenes. Rates will rise. TPTB WANT the seniors to starve.

Tue, 04/07/2015 - 05:33 | 5966003 Tall Tom
Tall Tom's picture

Yes it will be televised. The Oligatchs are also fighting for the control over the minds of the people. That is why they bought the Media in the first place.

 

And as for seamless? Hah!!!

 

The one percent are ruthlessly going to attempt to cannibalize each other. Banker A is not going to be happy when Banker B declares that his promises to pay are null and void as he declares a Force Majuere as he cannot stand and deliver.

 

Then Banker A becomes insolvent and Banker C is out? Banker C will want blood from both A and B

 

No. No. No. No. No.

 

It is, at the very least, going to be entertaining to watch as these guys battle to the gory death on which none are so more deserving. It will be a live version of Highlander and...IT IS ALWAYS AUDIENCE PARTICIPATION NIGHT.

 

Pass the Nail Guns as they are impaled upon the crosses.

Tue, 04/07/2015 - 12:39 | 5966940 Ass Burger
Ass Burger's picture

Bankers cannibalizing each other?

 

http://i.imgur.com/agJIP.gif

Mon, 04/06/2015 - 17:41 | 5964770 JRobby
JRobby's picture

Explosion or Implosion?

Mon, 04/06/2015 - 17:29 | 5964731 Hohum
Hohum's picture

Too many people at ZH expect a crash.  Fixed.

Mon, 04/06/2015 - 17:17 | 5964691 ZH Snob
ZH Snob's picture

What does the fed care about common sense?

Mon, 04/06/2015 - 20:46 | 5965304 saveUSsavers
saveUSsavers's picture

He is a FKING LIAR on ******GAAP**** p/e is forward 27, HE IS FUCKING USING NON-GAAP OPERATING EARNINGS, THIS SLIME IS THE SCUM LIAR OF THE EARTH!

Tue, 04/07/2015 - 04:37 | 5965971 mvsjcl
mvsjcl's picture

His purpose is to lie, but to do so in a subtle manner. You have to go the the premise of his arguments to see the deception.

Tue, 04/07/2015 - 01:22 | 5965810 blowing winter
blowing winter's picture

Start working at home with Google ! Its by-far the best mixed bag of goods I've had. Last Thursday I got a trademark new Bmw since getting a check for $6474 this - 4 weeks past. I began this 8-months ago and immediately was coming with house at least $77 per hour. I work through this connection, go.to tech marker for work detail.... www.globe-report.com

Tue, 04/07/2015 - 01:24 | 5965812 blowing winter
blowing winter's picture

Start working at home with Google ! Its by-far the best mixed bag of goods I've had. Last Thursday I got a trademark new Bmw since getting a check for $6474 this - 4 weeks past. I began this 8-months ago and immediately was coming with house at least $77 per hour. I work through this connection, go.to tech marker for work detail.... www.globe-report.com

Mon, 04/06/2015 - 16:32 | 5964524 knukles
knukles's picture

Interesting.  Now the Fed's supposed to "manage bubbles" and the WSJ today had a story about the bond markets stating that the Fed's not doing it's job of managing the flow of savings to investment.
Now, what was it they're supposed to do?  Oh yeah, they forgot, too.

Mon, 04/06/2015 - 16:51 | 5964605 Sudden Debt
Sudden Debt's picture

The fed bought god knows what derivative crap for a dow goal of 20k. 

If they don’t push it up, their crap explodes and they’re wipped out. So they’re taking care of numbero uno and they’ll keep pumping it up all the way up.

 

And the fact that hedge funds billionaires are now "warning for a mega crash" is because those fuckers are hedged short up to their eyebrows in puts and if the markets keep rising...

For almost 7 years now, the market had every reason to crash, I’ve shorted it 5 or 6 times and lost my pants on every single action.

Rule 1: never short a corrupt market. 

And those who are short now will push the markets way up when the first shortsqueezes start at the end of may. 2 more months. And than you’ll see a shitload of hedgefunds go down. But those fuckers will try everything to sell their crap to the retailers claiming it to be a sure bet.

Dow 20000, even with a flat broke economy. And after that 30000, 40000, 50000... 

 

Mon, 04/06/2015 - 17:01 | 5964643 LawsofPhysics
LawsofPhysics's picture

SD, please let everyone know when you go long.

thanks,

LoP

Mon, 04/06/2015 - 20:25 | 5965252 TeethVillage88s
TeethVillage88s's picture

It's Like Barney Fife is in charge of the FED.

Like Barney Fife is guarding the Gold.

Mon, 04/06/2015 - 23:59 | 5965696 Pemaquid
Pemaquid's picture

What gold?

Tue, 04/07/2015 - 02:08 | 5965863 SheHunter
SheHunter's picture

Good One Lawwwwww!  Crap.  I like this irreverent ZH.

Mon, 04/06/2015 - 22:33 | 5965531 logically possible
logically possible's picture

SD
Rule #2 Don't go long in a corrupt market.

Mon, 04/06/2015 - 22:36 | 5965534 DaveyJones
DaveyJones's picture

the Fed bought GS?

cause they know all about derivative crap?

Mon, 04/06/2015 - 18:57 | 5965018 Thirst Mutilator
Thirst Mutilator's picture

"Now, what was it they're supposed to do?  Oh yeah, they forgot, too."

 

Make JOOS rich with JOOBUX = Mandate...

 

Any other questions?

Mon, 04/06/2015 - 16:33 | 5964526 AmericasCicero
AmericasCicero's picture

Maybe if I buy a gigantic net to catch the falling money...

Mon, 04/06/2015 - 16:33 | 5964527 BeaverCream
BeaverCream's picture

He's been drinking too much of that spiked prune juice recipe he got out of the yellen cookbook.

Mon, 04/06/2015 - 16:33 | 5964532 LawsofPhysics
LawsofPhysics's picture

So raise rates then...

tick tock motherfucker...

Mon, 04/06/2015 - 16:41 | 5964558 ThroxxOfVron
ThroxxOfVron's picture

The moment Yellen touches the dial the algos will dive for the bottom faster than a fucking submarine that has unintentionally surfaced right in the middle of a battle carrier group deep in territorial waters.

Stops will be left bobbing on the surface while the mines get dropped into the water.

Fishing with dynamite.  Middle Class 401ks/assets being the 'fish'...

Mon, 04/06/2015 - 16:52 | 5964611 negative rates
negative rates's picture

Don't forget the cost of obamacare, especially for repete offenders.

Mon, 04/06/2015 - 16:54 | 5964620 LawsofPhysics
LawsofPhysics's picture

Please, does it fucking matter?  Get on with the reset already, it is either that or the underlying paper that all those 401k/assets is "priced in" becomes worthless.

 

The fish are fucking fish and fucked either way.

Mon, 04/06/2015 - 17:15 | 5964684 negative rates
negative rates's picture

The fish don't see it that way, it's compete for income at break neck speed, or we go to war with your ideals, they built more and now feel entitled to their share of the inherited earth. Still, just sayin.

Mon, 04/06/2015 - 19:23 | 5965097 ThroxxOfVron
ThroxxOfVron's picture

"The fish are fucking fish and fucked either way."

I disagree.

It is the top predators that are gonna get wiped out in a reset.  Small fish will survive.

The likes of Summers, Pelosi, McCain, Buffet, Icahn, Dimon will not survive toiling in the fields in the sun.

We will use their fat to make soap.

This age of TBTF dinosaurs is coming to a close...

I'm all for the coming reset.  The sooner the better.  Tired of getting stepped on by these giant lumbering douches and bled by their lamprey larvae.

Mon, 04/06/2015 - 22:27 | 5965522 McCormick No. 9
McCormick No. 9's picture

Good posts ToV. I am a tiny, shrew-like creature- too small to be noticed even by a middle-sized velocipator (er, hedge-fund manager). I live amongst the ferns and decaying forest litter. When the comet (er, algo-driven market crash) hits, I barely notice. I become fat from the cracasses of thousands of dinosaurs. i eat them. They don't eat me.

Mon, 04/06/2015 - 16:57 | 5964630 El Vaquero
El Vaquero's picture

A game warden heard lots of rumors of a good'ole boy who liked to go dynamite fishing, so he decided that he was going to go undercover and catch this guy.  So, he finds out what bar the good'ole boy liked to hang out at, and started frequenting the bar and eventually struck up a friendship with the guy.  After several months, the good'ole boy decided to invite the game warden fishing, and the game warden accepted, in the back of his mind knowing that he was about to make a spectacular bust.  On the fishing trip, they row out in a little row boat, and the good'ole boy opens up a box, takes out a stick of dynamite, lights the fuse, throws it out, and BOOM!  He then rowed over and started scooping up the fish.  At this point, the game warden took out his badge just as the good'ole boy was lighting another stick of dynamite and said "I'm with the Department of Game and Fish.  You are under arrest!"  The good'ole boy just handed him the stick of dynamite, fuse already burning, and said, "Are you gonna talk, or are you gonna fish?"

Mon, 04/06/2015 - 23:36 | 5965658 Tall Tom
Tall Tom's picture

Understanding your allegory...

 

That lake has been hollowed and depleted.

 

No matter how much dynamite is dropped there will be diminishing harvests, El Vaq

 

Yeah that Game Warden has been complicit but what is he to do when faced with a lit stick and a crate of that  dynamite?

 

He must encourage the small detonations until the dynamite is depleted. After that is gone then he can stop the madness. It is his only real chance for survival.

 

He has to starve the beast from the destructive material before he can arrest.

Mon, 04/06/2015 - 16:52 | 5964612 El Vaquero
El Vaquero's picture

I think that there is currently too much slack in the system for raising rates to do anything that is predictable.  This is what happens when you push on a string for going on 6 years now.  Slack.  Just wait until rates start to raise themselves. 

 

Tick tock motherfucker indeed...

Mon, 04/06/2015 - 17:07 | 5964659 chunga
chunga's picture

I'd like to know under what conditions would rates raise themselves? Honest question because I'm not a finance guy at all.

It's seems even the rigs are rigged and it benefits the people doing the rigging to keep them low forever, so why would that ever change?

None of it makes any sense to me.

Mon, 04/06/2015 - 17:16 | 5964682 El Vaquero
El Vaquero's picture

When the paper pushers won't buy somebody elses paper debt instruments with the current low interest and start bidding rates up.  But you currently have ~$2.5 trillion in excess reserves to contend with.  QE may have ended (for now,) but currency is still very cheap with that big steaming pile of eFRNs just sitting there at the Fed.

 

EDIT:  And QE may still be going.  Every time the excess reserves dip by a couple hundred billion, they go back up.  Where are these FRNs coming from?  Enquiring minds want to know!

Mon, 04/06/2015 - 17:28 | 5964728 chunga
chunga's picture

My very limited understanding was that the US gov has gone so far into debt it had to conjer FRNs into existence with CRTL-P power, or even more simply just copy and paste digits into electronic existence only.

Paying just the interest on this fake money is huge, so that's why I thought the interest rate was practically zero, to make it look like creating fake money was no big deal.

It sounds like there's a lot more to it than that. That made me dizzy.

Mon, 04/06/2015 - 17:36 | 5964754 El Vaquero
El Vaquero's picture

The government will defend ZIRP on USTs at all costs, but there is also a lot of corporate paper out there.  And who knows what the secretive snakes at the Fed will do.  They're damned if they do and they're damned if they don't.  That's why I never say never with them.  If they raise rates, they are going to implode the banking system.  If they don't raise rates, they'll have several million very unemployed teenagers and 20 somethings watching their grandparents survive on Alpo Soufflé.  Note that the grandkids are in the age group that generally fights revolutions.  They might get that anyway if they raise rates.  It is a no win situation.  Think of it this way:  If you watch somebody jump off of a building, it would seem a very irrational thing to do, until you look at the floors below them and realize that there is a massive fire, and the choice is die quickly by jumping, or die via fire and smoke inhalation.  The Fed is atop a burning skyscraper.  What will they do?

Mon, 04/06/2015 - 17:39 | 5964767 chunga
chunga's picture

JUMP YOU FUCKERS!

(sorry that's lame but it's all I got)

Mon, 04/06/2015 - 17:52 | 5964806 El Vaquero
El Vaquero's picture

No matter what they do, we need to get a lot of other people to push back with us when the government tries to take us to war again in earnest.  We don't want to let the fuckers point to a war as the cause of the problems.  We want people to know who the vipers really are, and it needs to hurt so bad that it breaks through their cognitive dissonance. 

Mon, 04/06/2015 - 20:16 | 5965235 Gambit
Gambit's picture

LMFAO on the Alpo Soufflé reference!!!

Tue, 04/07/2015 - 05:39 | 5966013 Tall Tom
Tall Tom's picture

You won't be when you are eating it. Bon appetite.

Mon, 04/06/2015 - 21:08 | 5965348 sonoftx
sonoftx's picture

El V + 1,000,000

Tue, 04/07/2015 - 05:54 | 5966027 Tall Tom
Tall Tom's picture

El Vaquero...Why did you not tell Chunga the mechanism? It is really not that complicated.

 

The Rates will rise when the FED STOPS BUYING THE BONDS. The Capital, at that point, must originate from outside sources, both private and Foreign Governments. And if the Fixed Rates on the Bonds are not attractive enough to garner investment capital then the Government becomes inslvent as they cannot garner the revenues to even pay the finance fees on the existing debt.

 

That is how the FED TARGETS RATES. If they rates are lower as to increased outside demand then the Fed sells to meet the demand. If the rates are higher due to decresing outside demand then the Fed buys them.

 

When the Fed stops buying them, and starts divesting them from their Balance Sheets, then all hell breaks loose.

 

Looking forward to that day.

 

Lord...Bestow upon us the insolvency of the Fed. Kill the beast.

Mon, 04/06/2015 - 20:36 | 5965285 TheReplacement
TheReplacement's picture

Don't forget China.  Whether ping pong or CQC, the enemy always has a vote.

Mon, 04/06/2015 - 18:47 | 5964980 Stumpy4516
Stumpy4516's picture

Many are starting to believe that most of the money being created is just computer digits that are sanitized through banking channels and is never recorded or acknowledged by the owners of the Fed.  These computer digits created from nothing are then used to buy real assets for the ruling families, including many foreign assets. (Not just used to service the debt)

If so, when it goes bust they will own the real assets and those who accepted the computer digits (especially foreign govts/populations) will be the bag holders.

Just the same - Go short if you dare.  Better men who thought they knew the time and expanse limits of the corruptions have paid dearly already.

Mon, 04/06/2015 - 19:07 | 5965050 El Vaquero
El Vaquero's picture

I wouldn't gamble in these markets with anything that is mine.  I'm not an insider, and life can throw curveballs that even insiders can't see coming.  But it is so clearly rigged right now that you're right.  Unless you KNOW something that is not public, don't short the market.  BTFD and squirrel some of your profits aside every so often and hope you saved enough up for when shit does go sideways if you're going to play.  That is what has worked so long as the Fed and corruption have been calling the shots, and it will continue to work right up until the time that it doesn't.  The question is, do we get a crash, do we get Zimbabwed or do we get a crash then get a whipsaw back to being Zimbabwed? 

Mon, 04/06/2015 - 19:27 | 5965117 chunga
chunga's picture

That's what I was thinking except that at least some, if not all, or even moar of the bill for the fake money goes on the taxpayer's tab. The muppets never really know where the money goes, but they know who gets the bill, even if it's an impossible amount to pay back.

Nobody ever has to buy anything at all when this money is created. There isn't any real market for this conjured debt, it just is, and that's final.

Who cares what foreign govts or populations think. If they don't like it what are they gonna do about it? They'll be labeled terrist's that support the axis of hate.

Mon, 04/06/2015 - 17:34 | 5964748 BorisTheBlade
BorisTheBlade's picture

 Where are these FRNs coming from?  Enquiring minds want to know!

Alice in Wonderland was in a more sane environment than a today's enquiring mind trying to figure out where FRNs are coming from. I assume any explanation is as good as next one, so perhaps Mama's Yelen cunt as place of origin should have a high explanatory value.

Mon, 04/06/2015 - 16:58 | 5964632 Professor Fate
Professor Fate's picture

Can't raise rates and they know it.  One quarter point raise is good for a 500 point free fall at the opening bell. This markets' on CRACK and Yellin is now the "pusher" du jour.  

Fate the Magnificent

"Push the Button, Max" 

Mon, 04/06/2015 - 16:34 | 5964537 Kilgore Trout
Kilgore Trout's picture

An outsider wants to know: are *all* hedge fund managers legendary?

Mon, 04/06/2015 - 16:38 | 5964549 knukles
knukles's picture

Legendary and Exceptional

Mon, 04/06/2015 - 16:42 | 5964568 besnook
besnook's picture

one of the littlest known observations by the legendary warren buffet was that it only took one or two good stocks in a lifetime to make a person wealthy. when a person does that for other people he(not many shes) becomes legendary. 

my wife thinks i'm legendary. mom still thinks i'm a little sketchy. see the difference?

Mon, 04/06/2015 - 18:06 | 5964839 Solio
Solio's picture

Mythical.

 

Manage the digital thing. HA!

Mon, 04/06/2015 - 16:42 | 5964538 ThroxxOfVron
ThroxxOfVron's picture

Interesting observations.

I wonder what his options portfolio looks like.  

Short in Q3?  

Q4?  

2016???  

2017 after the next puppet is installed in the WH?

You know he's not gonna talk about bubbles bursting and 2008 magnitude sell offs without being postioned for just such an eventuality...

Mon, 04/06/2015 - 16:38 | 5964552 besnook
besnook's picture

how come i can't have 100 positive trading days in a row!fuck! fuck this! and fuck me! lol!

Mon, 04/06/2015 - 16:46 | 5964583 Anusocracy
Anusocracy's picture

Because you don't have Happy Puppet Syndrome like the others.

Mon, 04/06/2015 - 16:54 | 5964621 negative rates
negative rates's picture

Well if you didn't buy tesla stock, that was the one that got away from you.

Mon, 04/06/2015 - 16:38 | 5964555 adr
adr's picture

What you are going to see is a mass bankruptcy encompassing 90% of the corporations in the USA. There is no actual money flowing into the economy and very soon liabilities will extend beyond incoming cash. Bullshitting earnings and sales only goes so far. Eventually you can't extend and pretend anymore.

Since every corporation is fraudulently reporting sales, they are all one step away from insolvency. The second the Fed raises rates, every company is bankrupt because they won't be able to fund buybacks and mergers.

Take a walk around. Every single store looks like Circuit City, Linen's & Things, Radio Shack, etc.

Have some fun. Get your favorite company's latest quarterly report. Divide the supposed revenue by number of stores and then divide that number by the number of days in the quarter. You then have the supposed daily revenue per store. For small mall outfits you'll usually get around $8-10k per store per day. For stores like Dick's you'll get $30k per day.

Now go to one of those stores and see if you watch $30k move through the checkout lines.

Mon, 04/06/2015 - 17:00 | 5964642 BeerMe
BeerMe's picture

Shhh...  Cash flow is everything.  Liabilities already extend beyond cash.  It only takes one or two big sales not paying/delaying their bills to start a chain reaction.

Even in small business it is happening.  April is going to be exceptionally tight considering that taxes are also due.

Mon, 04/06/2015 - 17:30 | 5964736 corporatewhore
corporatewhore's picture

I have been watching the deterioration for our firm since january.  We've tried blaming the weather for the 50% reduction in phone ins leading to a 30 to 40% reduction in last year sales levels.

Unfortunately the weather has now changed.  Nonetheless the phones are barely ringing.  Jane and Joe Sixpack are tapped out for quality replacment parts and will use the card to get the Walmart crap to make ends meet until they get a better paying job.  Who's hiring?

It isn't pretty in flyover country.  Batten down the hatches.

Mon, 04/06/2015 - 19:04 | 5965044 Calmyourself
Calmyourself's picture

Corp whore what are you selling, parts for what type of equipment?

Mon, 04/06/2015 - 21:48 | 5965369 stormsailor
stormsailor's picture

apologies, i thought you called the guy a corp whore, i didn't realize it was his username.

Mon, 04/06/2015 - 21:15 | 5965365 stormsailor
stormsailor's picture

my business has taken a 20% hit y on y.  i understand the huge auto insurance companies have taken about a 25% hit this year to last year.  i believe it is a distortion being caused by the implementation of the obama care tax.

 

all business in the us should take a 20% hit for obama care, its for the children, lol cough.   especially small business we need to give more to the state and the fed so they can piss it away faster.

Mon, 04/06/2015 - 22:38 | 5965541 McCormick No. 9
McCormick No. 9's picture

Right on Stormy, I'll take a 20% corncob right up my ass for Obamacare! It's for the kids! Er, wait. They are young and healthy. They live on a diet of molly, beer, pizza, and red bull. They don't have any fucking insurance. Oh wait..neither do i, but at fifty, it's a different story. But I don't want Obamacare. Why are all my other insurance rates going up? Oh, right. I don't want a corncob shoved up my ass! I don't care about Obamacare! If I wanted to live in a socialist dystopia, I'd move to the Soviet Union! Huh? It doesn't exist any more? I'm confused and my ODD is acting up. Fuck all y'all. There's a pill for that...

Mon, 04/06/2015 - 16:38 | 5964557 Elliott Eldrich
Elliott Eldrich's picture

Oh, I'm quite sure that after years and years of killing the shorts with the endless injections of massive liquidity, to the point where finding a bear on Wall Street is about as easy as finding Bigfoot, at that point the well-connected will take their short positions about 15 minutes before the big crash. In other words, same old, same old. What an ugly scamracket.

Mon, 04/06/2015 - 16:40 | 5964559 Mister Delicious
Mister Delicious's picture

speaking of complete explosion...

Bibi’s Iran shocker: How he accidentally revealed his desire for more war
Netanyahu has long claimed he doesn't want the U.S. to go to war with Iran. But this weekend, he let the truth slip

http://www.salon.com/2015/04/06/bibis_iran_shocker_how_he_accidentally_r...

- don't ever think that a little thing like a reasonable agreement regarding Iran's nuclear energy and research program would stop Bibi, the Ziopaths, and a bought and paid for US Congress [nor the army of online trolls repeating the deliberate "wipe Israel off the map" lie]

Arguably world war 3 already has begun. Bibi probably already has his bunk picked out in Site 911.

http://mycatbirdseat.com/2014/07/us-to-build-mysterious-site-911-in-israel/

http://www.businessinsider.com/the-us-is-building-secret-site-911-in-isr...

https://www.vice.com/en_uk/read/the-americans-are-building-a-top-secret-...

^* too bad VICE has been virtually completely coopted by the usual suspects....

Mon, 04/06/2015 - 16:50 | 5964604 sharonsj
sharonsj's picture

I believe what Iran said was that it wanted to erase Israel from the pages of history.  Translations vary but it certainly isn't a lie.

And it's big corporations that own Congress, not Israel, no matter how much an anti-Semite like yourself thinks so.

Mon, 04/06/2015 - 16:59 | 5964608 centerline
centerline's picture

post ended up in wrong spot...  odd.

Mon, 04/06/2015 - 17:06 | 5964655 El Vaquero
El Vaquero's picture

IMO, it is saber rattling.  They may even think that they want to get the bomb, but I doubt they know what they really do.  IMO, so long as the world is capable of maintaining nuclear weapons, it should agree to an above ground detonation every decade or so, where all world leaders go and watch.  Even allow for amnesty fir the DPRK nutter to go watch.  The Iranians are more rational than they would let you believe.  I bet they'd see that shit go off and say HOLY-SHIT-ALLAH-OMGWTFBBQ!!!?

Tue, 04/07/2015 - 01:40 | 5965841 walküre
walküre's picture

Iran is free to voice their opinion. Get used to it, Ziolover.

Mon, 04/06/2015 - 16:40 | 5964560 Kilgore Trout
Kilgore Trout's picture

I have a problem with the whole "tea kettle" analogy. If it's boling over, and you put a lid on it, that's when it explodes.

Mon, 04/06/2015 - 18:46 | 5964977 rsnoble
rsnoble's picture

He has servants and probably doesn't even know how to use a microwave, let alone a tea pot.

Mon, 04/06/2015 - 21:43 | 5965428 e_goldstein
e_goldstein's picture

He should use both together. Especially if the teapot is metal.

Mon, 04/06/2015 - 16:45 | 5964565 Buckaroo Banzai
Buckaroo Banzai's picture

"I think that eventually we are going to see the Federal Reserve do the responsible thing which is put a little lid on this tea kettle that's boiling over, but I don't know when that's going to be. That will trigger a little bit of a slowdown in the overall economy."

All proceeding to Martin Armstrong's script:

1) Fed raises rates to slow the stock market bubble and give them some slack to cut rates later when the economy inevitably goes into another full-blown recession.

2) The stock market obligingly takes a big dump.

3) But a strong dollar gets even stronger, and the move backfires as foreign money views the stock market dip as a buying opportunity. The stock markets whipsaw and reaches a new, absurd high.

4) Government bond markets collapse worldwide driving money further into the US stock market. US stocks continue to skyrocket to absurd valuations even as the economy comes to a screeching halt.

5) Federal tax revenues plummet. The Feds go crazy trying to hunt down money and start raising tax rates in face of the emerging depression. Cutting Federal spending is considered, but (of course) rejected.

6) Finally, in the face of an unprecedented FY 2016 $2 Trillion deficit, the Treasury Bill and Bond markets crack and begin to collapse, driving even more money into a US stock market showing valuations so comical they defy imagination.

7) The Federal Reserve is fucked. They can't raise rates to support the bond market because the economy is trashed. They can lower rates a little but it doesn't make any real difference to the economy which is now addicted to absurdly low rates.

8) Then, something really bad happens.

Mon, 04/06/2015 - 16:47 | 5964580 ThroxxOfVron
ThroxxOfVron's picture

"8) Then, something really bad happens. "

WAR.  We call that really bad thing that happens when interlocked global bond/debt markets blow up and trade sceeches to a halt for everything but munitions and delivery systems: WAR.

The bigger the crash the bigger the war.

The next big one is gonna set new standards for scope and scale.

Mon, 04/06/2015 - 16:50 | 5964598 centerline
centerline's picture

Most likely.  Fires are already burning.

Mon, 04/06/2015 - 17:02 | 5964647 TeethVillage88s
TeethVillage88s's picture

ThroxxofVron is right War.

Mon, 04/06/2015 - 18:02 | 5964834 NihilistZero
NihilistZero's picture

The war is already on, it's just not "hot" yet.  I doubt it will get hot.  I expect a lot of regional proxy stuff.  A Cold War 2.0 if you will.  We didn't have enough soldiers for Iraq (see backdoor draft through stop loss) so I'm sure there won't be the traditional warfare of old.  The US government would commit suicide by implementing a draft in this environment.

Expect the world to slog on.  You will be inundated with propaganda about how bad the enemy is and how great the homeland is.  Life will go on if you have a plan and live within your means.  Any ZH reader should at least benefit from the peace of mind that comes with knowing that it's all bullshit...  Live life in the machine as best you can.  Do not become a part of it.

Mon, 04/06/2015 - 17:49 | 5964790 El Vaquero
El Vaquero's picture

You had better hope that 8) happens in the order listed, and not first.  Then there will be an opportunity to avoid a nuclear war by first starting a civil war.  I don't want any of that shit, but I'm not so sure that we're going to have a war/no-war choice.  If I have to pick between what seems to be a choice between WWIII and Civil War II, I'll pick the one that leaves the survivors non-irradiated fields to grow crops in. 

Mon, 04/06/2015 - 16:46 | 5964581 centerline
centerline's picture

Seems more plausible than most of the other scenerios out here in unicorn land.  And Armstrong was some time ago warning of the international capital flows that are happening now.  Hard to not pay at least a little bit of attention to his macro predictions.

Mon, 04/06/2015 - 17:13 | 5964665 SDShack
SDShack's picture

#8 is actually #1. It's the boogeyman the Fed is so desperately trying to find to pin the blame on, rather then letting the sheeple realize it's the Fed policies all along that are screwing the world. When #8 becomes #1, all the other steps become moot. The truth is actually the big lie. The "unexpected" reason for the recession/depression has actually been engineered so it can be foisted onto the sheeple to allow even more control over them by TPTB. Rinse and repeat to infinity.

Mon, 04/06/2015 - 17:56 | 5964813 El Vaquero
El Vaquero's picture

It's kind of hard to govern an irradiated wasteland with very little functioning infrastructure and people who don't remember how to do things without their iGadget telling them what to do.  The iGadget part applies to government workers just as much as it does to the rest of us. 

Mon, 04/06/2015 - 17:26 | 5964723 corporatewhore
corporatewhore's picture

when did we escape the recession? we've been in a depression for a while now.

Mon, 04/06/2015 - 16:42 | 5964570 jubber
jubber's picture

but he still likes Biotechs?

Mon, 04/06/2015 - 16:53 | 5964616 Comte d'herblay
Comte d'herblay's picture

..a sector with pornographically obscene PEs.....

Mon, 04/06/2015 - 16:43 | 5964574 centerline
centerline's picture

A hedge fund manager... 

I stopped reading after this fact.  Piss off.

Mon, 04/06/2015 - 16:43 | 5964575 Ban KKiller
Ban KKiller's picture

Book cooking has reached ludicrous speed! The wall of honesty has been penetrated! 

Look out above and below. Too late to short Lehman? Oh, just kidding....but wait a minute. According to my NON GAAP I do own Lehman, lock stock and honest book keepers. 

Mon, 04/06/2015 - 16:45 | 5964579 vesna
vesna's picture

"paradrop money from the skies - an endgame Bernanke himself warned about some 13 years ago"

Bernanke warned this 13 yers ago? The fucking creator of helicopter money?

FUCK YOU Bernanke!

Mon, 04/06/2015 - 16:47 | 5964586 agstacks
agstacks's picture

I shut him off when he said "weather is a big factor" 

https://www.youtube.com/watch?v=UecRfBJ2LBM

 

Mon, 04/06/2015 - 17:07 | 5964588 besnook
besnook's picture

it has been going on for 25 years in japan. the boj has been brilliant when the alternative is death. the fed has an even greater capacity to do what the boe did. and then there is nirp and helicopters and the trillion dollar coin and nationalized debt free currency but it will end with gold somehow.

Mon, 04/06/2015 - 17:58 | 5964822 jomama
jomama's picture

is this for real?

Mon, 04/06/2015 - 18:41 | 5964958 Kassandra
Kassandra's picture

No.

Mon, 04/06/2015 - 16:49 | 5964597 disabledvet
disabledvet's picture

This is the same stupid fuck who got ass raped in 1999.

 

Had to flee to New Zealand as consequence.

 

This clown is a complete and utter retard.

Mon, 04/06/2015 - 16:50 | 5964599 Comte d'herblay
Comte d'herblay's picture

: - (

 

Mon, 04/06/2015 - 16:52 | 5964600 Comte d'herblay
Comte d'herblay's picture

My neighbors, few blocks down, two men who got 'got married' last year are raising chickens against local ordinances because they see the end of the world as we know it. 

Now, if two men actually think that they can 'be married' and that--- though legal--- it is not utter bollocks and nonsense, absurdity, and ridiculous pretense, predict the end of the world, what is the probability that their paranoia, fed by sticking gerbils up their asses, is correct? 

Go long.

 

Mon, 04/06/2015 - 17:00 | 5964640 jomama
jomama's picture

Why the fuck would you care what people do with their lives?

I sure as shit don't give a fuck about what you and your crone do at home.

Mon, 04/06/2015 - 17:19 | 5964697 negative rates
negative rates's picture

But when he is doing it to your spouce at work and now they have to make a dr. appointment, you will want to know about the behavior of say, our leaders.

Mon, 04/06/2015 - 17:44 | 5964773 Comte d'herblay
Comte d'herblay's picture

I don't care, I merely point to these types of perversities as yet another notch in the decline of civilization. The acceptance, the lack of common sense judgment, YES, judgment that awful awful word that is now deemed prehistoric, some things that are legal, but absurd, ridiculous and fucked up are barometers that we as a culture have lost our moorings when the majority does not rise up and say, "You have got to be fucking kidding me!!! Men getting MARRIED to eacjh OTHER??? What the flying Fuck is the government doing??!!!!) 

Tatoos all over the body, in the labia majora, and belly button, eye brow, and nipple piercings are another indicator of our fall into the abyss. 

You would give a shit if what I did at home with a 13 yr old virgin, nubile and well built, a beautiful girl I managed to entice into my bedroom for some fun and games. 

And you should.  A visit from the police, a long prison sentence and castration would be appropriate as well, and an hour alone with me and her parents wouldn't hurt either if you decided to make the phone calls.   You damned right you would care what 'people do with their lives'. 

Mon, 04/06/2015 - 18:08 | 5964840 jomama
jomama's picture

So wait - you're trying to say that being gay is the same thing as pedophelia?

You totally lost me at the point of 'we as a culture', as the US doesn't have its own culture.

I'm amazed at how people get off thinking that somehow they're the moral fucking compass about how humanity should be. You apparently went through life with blinders on. I wish I had lived my life so perfectly that I would feel compelled to tell people how they should live their lives. Funnier yet, is I bet you don't have the balls to tell them how you feel about them face to face. Ironic, no?

Tue, 04/07/2015 - 00:29 | 5965739 Buckaroo Banzai
Buckaroo Banzai's picture

Actually, being gay is in fact pretty much the same thing as pedophilia. Gays are 2% of the population but commit 50% of pedophilia crimes. Which means gays commit 25 times more pedophilia than straights.

Tue, 04/07/2015 - 05:17 | 5965998 kareninca
kareninca's picture

Isn't this figure distorted by the huge number of molestations that specific individual gay male pedophiles commit?  Whenever I read that a gay male pedophile has been caught/arrested, it turns out that he has molested hundreds and hundreds of boys.  Because he has put himself into a position to access huge numbers (scout leader, priest, therapist), and does.  That does statistically allow a lot of gay males to be non-pedophiles.

Thu, 04/09/2015 - 07:49 | 5967945 Comte d'herblay
Comte d'herblay's picture

Who are you and who is the government to judge that a consenting teenager who routinely enjoys sex with other 13, 14, 15 yr olds can't do so with a 40 yr old?

Judging what goes on in someone's home ---no matter how perverted---- is your point I am addressing, legal or not. 

We certainly have had and---- in the majority still do---- have a culture.  It is the counterculture that is leading the way to oblivion, seducing the children into living a life of dissolute existence where anything goes. 

How can you tell someone face to face that they are ridiculous, absurd, and perverted without being physically attacked?   It's not about them it's about the government legitimizing them, telling the world that it's a matter of equal rights, when the government has no business doing so. 

Marriage was borne out of religion and hijacked by government. Only religion should decide whether or not marriage between gay men is considered a bonafide union, recognized by the church (es).

Otherwise civil unions should govern the equal rights clause, and that would cover all the bases, butt no, The gay lobby and their shills who want to see the degradation of our culture for their profit have to force gay marriage down our throats at the Federal level.

Fuck them and you.

 

 

 

Mon, 04/06/2015 - 16:50 | 5964603 starman
starman's picture

Rate hike with slug economy will never happen!

 

Mon, 04/06/2015 - 16:54 | 5964617 mastersnark
mastersnark's picture

Why is the Fed so terrified of a market collapse or a depression? It's not like desperate people start hanging bankers and politicians and beginning revolutions...

Mon, 04/06/2015 - 16:56 | 5964629 surf0766
surf0766's picture

Dear leader outlawed pins

Mon, 04/06/2015 - 17:01 | 5964645 rickybobby1hundo
rickybobby1hundo's picture

Can we just get this party started,  the anticipation is killing me!!??  Reading ZH articles is like never ending Blue Balls 

Mon, 04/06/2015 - 17:06 | 5964654 TeethVillage88s
TeethVillage88s's picture

Long Illegal Drugs. CIA Loves times like these. Fear sells. Being backed into a Corner means extraordinary Actions like War.

Mon, 04/06/2015 - 18:19 | 5964881 kill switch
kill switch's picture

It creeps like a fungus...

Mon, 04/06/2015 - 17:02 | 5964648 ncdirtdigger
ncdirtdigger's picture

It's like listening to Chicken Fuckin Little. Some day the sky will fall, but I sure as hell ain't living underground waiting on it.

Mon, 04/06/2015 - 17:06 | 5964656 chubakka
chubakka's picture

market will never crash since we have a crash team in place :)  

Mon, 04/06/2015 - 17:08 | 5964663 Seasmoke
Seasmoke's picture

I feel like we are on an airplane with a depressed German as pilot. 

Mon, 04/06/2015 - 17:12 | 5964679 JenkinsLane
JenkinsLane's picture

To some extent we are.

Mon, 04/06/2015 - 17:12 | 5964678 q99x2
q99x2's picture

That guy doesn't look like someone that knows the difference between a recursive algo connected to infinite fiat from a sheet of toilet paper. BTFD 

Mon, 04/06/2015 - 17:17 | 5964694 davidalan1
davidalan1's picture

wish I could be the fed chair whose job is to sit all day in my office and look at the rates that I will NEVER Touch. Tough work

Mon, 04/06/2015 - 17:21 | 5964704 negative rates
negative rates's picture

Prolly won't stop someone else from Touching them.

Mon, 04/06/2015 - 17:21 | 5964702 theprofromdover
theprofromdover's picture

-but first they have to stop printing money  .........................

Mon, 04/06/2015 - 17:21 | 5964703 luna_man
luna_man's picture

 

 

Awh, c'mon julian, just think back when you were a little boy and your sister blew all those "bubbles", and how you would chase those "bubbles" endlessly...No more fun for you?

 

CRIMINAL

Mon, 04/06/2015 - 17:23 | 5964711 negative rates
negative rates's picture

He does at home with his dog, he can film it and then try to monetize it, the dog loves it, he loves it, and it keeps him busy in his spare time.

Mon, 04/06/2015 - 17:26 | 5964720 pashley1411
pashley1411's picture

You realize that so long as it carries value, the stock market will remain the play thing of the powers-that-be.   They can't help themselves.  

Once stocks are pummeled and vaporize as a source of value, the Fed will have to find a new toy to break.

Mon, 04/06/2015 - 17:27 | 5964724 newsoutlet
newsoutlet's picture

putin regime terrorist confesses doing war crimes in Ukraine:

https://youtu.be/yXSctfYItaM

 

A Russian fighter's confession that he killed 15 Ukrainian prisoners of war may be considered evidence of war crimes in court if the authenticity of the recording is confirmed, human rights and legal experts say.

But these alleged crimes are unlikely to be considered crimes against humanity, and it would also be difficult to send them to the International Criminal Court.

The statement was made by Arseniy Pavlov, better known by his nom-de-guerre Motorola, in a telephone conversation with the Kyiv Post on April 3. Motorola, head of the Kremlin-backed Sparta Battalion, said that he would not comment on presumed eyewitnesses’ testimony that he had murdered Ukrainian prisoner of war Ihor Branovytsky on Jan. 21.

“I don’t give a f**** about what I am accused of, believe it or not,” Motorola said. “I shot 15 prisoners dead. I don’t give a f****. No comment. I kill if I want to. I don’t if I don’t.”

An investigator at the Interior Ministry told the Kyiv Post that the claim is already being investigated as part of the portfolio of crimes against humanity. Branovytsky's murder is a part of this case.

Russian citizen Motorola, 32, was born in the city of Ukhta in Komi Republic and also used to live in Rostov-on-Don. Previously he fought against Islamist insurgents in Chechnya and worked as a blue-collar worker and a lifeguard. Motorola's Sparta Battalion played a major role in the takeover of Donetsk Airport by Kremlin-backed militants in January.

An original recording of a conversation with Motorola can potentially be used as evidence in court if it was recorded by a journalist and then given to an investigator, Tetiana Telychenko, a prominent lawyer, said. “Subsequently there must be an analysis of his voice and the authenticity of the digital media,” she said.

Yevhen Zakharov, head of the Kharkiv Human Rights Group, described the presumed crime, if it was committed, as an aggravated premeditated murder and a violation of the right to life, according to Article 2 of the European Convention on Human Rights.

“Extrajudicial executions are banned and are defined as war crimes,” Tetiana Mazur, head of Amnesty International in Ukraine, told the Kyiv Post.

Vasil Vovk, head of the State Security Service's main investigative department, said on April 3 that the Branovytsky case had been opened under the crimes against humanity article. However, there are difficulties with qualifying the murder of Branovytsky and the alleged killing of 15 Ukrainian prisoners of war as crimes against humanity, Mazur said.

The Rome Statute of the International Criminal Court defines crimes against humanity as ones directed against civilians, as opposed to soldiers who are taken prisoner, and they must be “widespread or systematic.”

“Crime against humanity’ means any of the following acts when committed as part of a widespread or systematic attack directed against any civilian population, with knowledge of the attack,” the statute reads.

Another charge against Motorola and his Sparta Battalion is the torture of Ukrainian prisoners of war, banned under Article 3 of the European Convention on Human Rights. According to Yury Sova, an eyewitness of the killing, he and other prisoners were beaten by Motorola’s men for six to seven hours in a row.

“If Branovytsky was beaten brutally and cruelly, it’s torture,” Zakharov said.

He added that almost all Ukrainian prisoners of war had been tortured by separatists but Ukrainian authorities had so far failed to document such cases.

Vovk said that the Branovytsky case could be sent to the Hague-based International Criminal Court.

However, there are obstacles to transferring any cases against Motorola to the Hague. So far, Ukraine has not ratified the Rome Statute of the International Criminal Court, which recognizes the court’s jurisdiction in specific countries.

On Feb. 4, the Verkhovna Rada passed a resolution recognizing the jurisdiction of the Hague court for war crimes committed by Russia and Kremlin-backed separatists in eastern Ukraine from Feb. 20, 2014 until Feb. 4, 2015.

However, the president has not yet formally sent the resolution to the Hague, Mazur said. Some analysts have also argued that Ukrainian authorities had no right to partially recognize the Hague court’s jurisdiction and must do it completely by ratifying the Rome Statute.

Meanwhile, Vyacheslav Abroskin, head of Donetsk Oblast’s police department, published the personal data of about 40 Sparta Battalion fighters on April 5 on Facebook.

“The country must know its ‘heroes’ by name,” he said. “They have the blood of our compatriots on their hands.”

Mon, 04/06/2015 - 18:26 | 5964903 Berspankme
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Do you really think anybody reads your bullshit?

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