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Mark Spitznagel Warns: If Investors Thought August Was Scary, "They Ain't Seen Nothin' Yet"
The man who made a billion dollars on Black Monday sums up his strategy perfectly in this excellent FOX Business clip with the money-honey, "I'm a hedge fund manager that actually hedges for his clients. This is something of an old fashioned idea in this day of just gambling on the next Fed bailout." Spitznagel, who is wholly unapologetic in his criticism of The Fed (and any central planner), unleashes eight minutes of awful truthiness on what is going on under the surface of the so-called 'market', concluding ominously, "if August was scary for people, they ain't seen nothin’ yet."
Grab a beer and relax...
Some key excerpts:
On Universa's tail-risk strategy..
"We tend to lose or draw—most of the time—these small battles or skirmished. But, ultimately, we win the wars."
On the Great Myth of centrally planned economies..
"Great myths die hard. And I think what we're witnessing today is the slow death of one of the great myths of human history: this idea that centrally planned command economies work, that they're even feasible, and that they can be successful.
It's one of these enigmatic mythologies of the last hundred years in particular that we've been grappling with, and here we are today yet again thinking about this. Let's remember that in the last hundred years a lot of blood has been shed over this mythology. And here we are today, how did we get here again?
On today's "all alpha is beta" hedge fund community...
There was this notion not long ago of the Bernanke put, the Greenspan put. It was sort of a dirty thing to admit that it was part of our investment strategy. But today, it's everyone’s investment strategy."
On "it's different this time"...
"I think that another generation will look back and say 'how could you have made that mistake all over again? How could you have failed to understand Hayek's notion of the fatal conceit, that central planners can't do better than the dispersed knowledge and signals of free market processes?'"
On the crazy world in which we live...
"There's something self-fulfilling about this mythology, only in the short run.
But in the long run we know that it is ultimately self-defeating. When bureaucrats mandate low interest rates it doesn't spawn long term productive investment. What it spawns is this short term gambling, punting on momentum-driven moves, on levered buybacks. This is the world we're in today."
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you make the world a brighter place.
no need to apologize
You are the dumbest fuck there is. Spitznagel is not a Jewish name, you fucking retard.
All those who believe in agregate demand.
His father was a United Church of Christ minister.
No Jews to hate!?!
ok good, then I believe whatever he says.
Filthy Jew.
Burn baby burn, disco inferno
Burn baby burn, burn that mother down
https://www.youtube.com/watch?v=A_sY2rjxq6M
its going a lot lower . maybe reality will stick its head up here. what is missing imo is true value . why dont governments buy gold and silver each month as a portion of their budget. ha ha never happen but instead of weakening the currency like they believe it would actually strengthen it . cest la vie ready for the next leg down
As people in the medical profesion are known to say "All bleeding stops eventually."
I'm a muppet, I can take it
Anyone with a hand up their ass can take anything. Calling a personal foul on myself, ten yards and must Count each step.
One
Two
(You've awoken the "Count of Sesame Street"
fuck this.
This guy sure doesn't give even a hint of what his real trading strategy is. Can't blame him though, I wouldn't either.
Atleast he was openly saying that the Fed is a failure and needing to let the free market run for true price discovery.
How much did the VIX move that day? I don't remember but it was a lot. But no, I don't blame him for not revealing it either. And ya it's always a little surprising when they have someone like him on there AFTER a bad market day, I would expect someone like him to get the peter schiff treatment- invite you on while the market is up/ gold is down and then treat you as persona non grata once you are inevitably proven right b
Its like the lie is getting too big for even the MSM to keep swallowing and inside under the leech, the human is showing through. Or I might just be dreaming, lol.
*edit spelling
What about October?
The easiest hedge is to play the longer term game and buy bitcoin - http://shitco.in/2015/09/17/bitcoins-role-during-the-upcoming-financial-...
This time is different, but only because the people have an alternative to turn to.
Bitcoin the doorway to cashless nirp land. No thanks.
Are you retarded? Bitcoin is the ultimate form of cash. Explain exactly how a central banking regime enforces NIRP on holders of bitcoin. Oh yeah, that's right, they can't.
Seriously, try and understand what the fuck bitcoin actually is before coming in here with this "hurr durr, if it's digital the bankers / government will control it." If you actually read the whitepaper and understood how the system works you would know the above statement to be absurd.
YOU
do not understand
how the system works.
Period.
ZH is kinda like the New York New York of propaganda lately....
If you can make it there, you can make it anywhere...
https://www.youtube.com/watch?v=9KJQNMqVIug
....I want to be a part of it...ZH!...Z...H!
And if the Govt/bankers own the interwebs. Exactly how do you stop them from ending bitcoin freedom by using digital flow controls to position themselves in every single transaction. You will be taxed digitally whether you like it or not. Until I can hold a bitcoin in my hand it is a fiat just like the rest.
*edit addition* If a currency is digital, it depends in a central planning controllable forum. If they shut off your access to a Bitcoin exchange, how do you get them? Where do you spend them if the govt bans their use? If the US were to enact a program like china's great firewall, do you think you could just keep using bitcoin without thier express permission?
Ever heard of a mesh network?
You can hold bitcoin in your hands in many forms, choose your poison: paper wallet, smart phone, casaicus coin, the list goes on.
Better yet, generate your own private key that you can memorize.
Use BIP38 to encrypt your private key for added security - https://github.com/bitcoin/bips/blob/master/bip-0038.mediawiki
You do know that skeptics will challenge that you must provide proof that the NSA does not have electronic countermeasures to thwart your proposition.
To which the cash standard to date remains ostensibly and realistically unchallenged. You must admit that fact.
Your retort is what exactly...? and I'm not talking about transitting fiat through the interwebs
Not sure I fully understand your question, could you rephrase?
If I do understand it though, I think you'll be ok - http://www.bloomberg.com/news/articles/2015-04-30/goldman-joins-bitcoin-...
Simple proposition. Does the NSA (or any other of the FED's minions) have a better chance of knowing how many bitcoins I have or how much cash I have ?
And what is the probability they have, in both scenarios, to imposing taxation imposed by fiat (to accrue to a private central bank and their collectors) upon a private transactional situation that did not warrant the imposition of a tariff without representation ?
I'm thinking cash is a better option versus digital fiat in a digital fiat world when faced with unlawful taxation without representation scenarios...wait...history that sounds familiar
EDIT: and by the FED's minions, I will most definitely include The Squid at the top of the list...LOL just below the IRS
And you most definitely you don't understand
Any and every transaction of currency that requires a third party to mediate the currency flow is controllable by the central planners. Period. The only challenge to the control is a physical (in your hands physical) currency backed by bullion in a free market that they cannot control. Otherwise, eventually everytime, your paper or bits will be worth nothing. Wash, rinse, repeat.
what itnterest rate are you geting on your bitcoins?
Dependng on the demand for shorting, you can earn up to 1%-5% per day lending on BitFinex. You can also regularly and steadily earn .1% per day on USD deposits that people will borrow to go long. Interest is paid to you every 24 hours.
I can make how much working at home on the Internet?
@undertow I agree 100% and have been saying that on here for well over a year. One of the Tyler's actually agreed with me today. All digital currency that keeps track of all transactions = central planners wet dream. All these people thinking it's somehow secure from the prying eyes of big brother are delusional.
Bitcoin still has a number of issues to resolve before it becomes BIG. The two most relevant ones IMO:
-- it is hard to use, beyong the capability of non-digerati
-- It is not used in enough places & countries
If/when BTC becomes widely used (and available) in Peru, for example, then BTC will fly. It's already catching in Argentina, but that country offers specific reasons why.
Once useful almost anywhere, THAT IS WHEN BTC's ability to be easily used, sans frontiéres, will be epic. Epic!
Those are just marketing problems.
If people can be convinced to buy pet rocks, or dance the Macarena, or wear mullets, then they can surely be conditioned and trained to use and enjoy *coin.
For me, *coin has a much larger underlying technical problem - the size of the blockchain, which, by definition, will only continue to grow as more transactions are committed to the ledger.
That, and the fact that anyone can create a fork of the original bitcoin, means that there are infinite *coin copycats available. This makes *coin interesting as a medium of exchange, but on its own, useless as a store of value.
Exactly, "useless as a store of value". After NIRP, the blockchain will be all thats left of Bitcoin. As the FED takes over Bitcoins operating model to accelerate the cashless credits system and now can track and trace all transactions of currency forever. A bit to Orwellian for me thanks.
Nice Coda.
https://en.wikipedia.org/wiki/Moore%27s_law
https://en.bitcoin.it/wiki/Scalability
Scalability will not be an issue moving forward.
In regards to altcoins, the free market will decide. It already has for many of them.
Surely you did not mean to insult those who wear mullets ? Thems fightin' words....
Bitcoin is limited in supply just like gold and its creation has nothing to do with the creation of actual goods and services. It will have the same problem as gold and silver; a layer of "bitcoin certificates payable on demand" will pop up, just like the goldsmiths created gold and silver certificates payable on demand (which eventually morphed into our corrupt, lent-into-existence money). As is the case now, most of this new private money creation on top of Bitcoin will be used for the maintenance and acquisition of existing Bitcoin assets, for the simple reason that most "developed" economies have reached the inflection point at which the most profitable configuration for the banksters involves throwing money at existing assets and inflating bubbles.
This guy won seven gold medals in the Olympics and made a billion dollars in one day? Why isn't he running for President?
LOL
Because he's to smart to want the job, and to rich to be bribed?
Let's hope.
By saying he actually HEDGES for his clients, I might be fooled to think he has ethics. I know right how unbelievable.
He probably inhaled
hey tinky --- wasn't that guy a dentist also?
Mark Spitznagel is NOT Mark Spitz.
(I guess...er...hoping that 26 people thought that you are writing satire. Or they are dumb mutherfukkers So I fail to see any satirical humor in this.)
Tall Tom –
You are the dumb motherfucker in this case, as you didn't recognize the obvious joke.
Tom is so serious that had he laughed, he would invite himself over to kick his own ass...
do you mean Mark Spitz, the Swimmer? ????
Very good! Now work on fixing your faulty JDU*.
*Joke Detector Unit
A billion sounds like a lot but what was the percentage?
I'm up over 8% my first two days back in the markets after 3 1/2 years of being out.
8% on how much capital? roughly.
70 bucks.
And he's gotta lot of catching up to do. 3 1/2 years out? Ouch. Missed the greatest fraudulent bull market in history.
Up over 35% after cashing in those $5 lottery tickets! Yahooooo!
Congratulations. Just take it from me and quit while you're ahead. The casino is rigged and I promise you'll give every penny and more back. I've lost about $30k in the last 2 years.
Ouch. I lost about 10k and my wife nearly cut my balls off. Made me swear I would never invest again.
Damn it.
Yeah,
investing 10K in hookers and blow
will piss off
most wives these days.
Smart wife.
That is what is behind the successful man.
Well I guess I'm fucked then.
well ive been pretty much all in PMs for 2 years, and i havent expected them to rise up until now. But if the comex get somehow repleted and the shemitah collapse doesnt play out - im reconsidering my strategy if gold doesnt start to catch a bid within the next two months
Don't watch Comex - that's the sideshow. LBMA is the main event.
19 trillion..TRILLION!! in debt and all along our voted in reps. raised the debt ceiling...over and over and over. Why? Its called having no accountability and a country club lifestyle. We are Amerika, who needs austerity as the potus flies around to fucking country clubs...etc.. what a fucking joke our politicians are..Lets just spend more money. who cares...we can print and kick the can. The ever devolving sense of responsibility. Been there in my own life once.. Piled up so much debt just said FUCK IT...thats pretty much where we are with the FED, The Politicians..FUCK IT party on Wayne...
To emphasize davidalan1's point:
1 Million = One Thousand piles of One Thousand.
1 Billion = One Thousand piles of 1 Million.
1 Trillion = One Thousand Piles of 1 Billion.
...times 19.
1 trillion seconds= 32,000 years.
Here's a compelling visualization of the USSA debt as of 2013 (short video):
https://www.youtube.com/watch?feature=player_embedded&v=jKpVlDSIz9o
World debt (graphic):
http://demonocracy.info/infographics/usa/world_debt/world_debt.html
Derivatives (similar in actual size to USSA unfunded liabilities, which they haven't a graphic for):
http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html
That last one is worth the click. Yeah, fuck it.
If we shunned them and their businesses; they would go away. The solution is simple, but people are not willing to engage and do what needs to be done. Put down the SMART phones, get rid of the cable and all other forms of electronic entertainment. Buy what you need and support those that are not engaged in the "machine". Won't happen and they know it; we are the problem; they just take advantage of it.
------------
For example if we want rid of Goldman Sachs; withdraw all your money and investments and make sure collectively any employer who uses them stops. Refuse to associate with anyone associated with that bank. See how fast they disappear.
Your absolutely right and that was just what I was thinking. Stop all the buying and trransacting you can in their 'system'. Use alternative payments systems whatever your choice. Shut them down so much that they scream uncle and crash if they must.
True. Protesting in the streets will not work; in fact, it's just a convenient method for the ruling classes to allow popular discontent to be let off without any direct threat. The only real method of protest is the withdrawal of our labor and participation, which are the only two things that underpin this economic system. Mobilize everyone throughout the country to work half-days only; the other half goes to interest, rent, and profit for the 0.01%.
lame cock suckers and voyeurism,
that is all that is left for public
consumption and their "inevstment
potency" according to the
powers of media that be..
,.
the earth itself is crying from
all the decrepit abuse, never mind
the dead or dying, poisoned and frustrated
children, man.
the drying up and burning continue.
let it melt, man, then let it burn.
http://cdn.spacetelescope.org/archives/images/screen/potw1422a.jpg
Is that a picture of planet earth from outer space?
It looks strangely similar to my minds vision of what our swirling about the drain would look like from that perspective.
http://www.spacetelescope.org/static/archives/images/publicationtiff/hei...
http://www.spacetelescope.org/static/archives/images/publicationtiff/opo...
http://www.spacetelescope.org/static/archives/images/original/opo0624a.tif
http://www.spacetelescope.org/static/archives/images/publicationtiff/hei...
Half a trillion solar systems. How many use gold or silver for money ? Probably all.
"let it melt, man, then let it burn."
Great...why the fuck should all of the "people" burn and be destroyed, while the small handfull of these assholes burrow away in bunkers and DUMBs????
Where are the "balls" of the "citizens"..???
Don't bother with a "generational" bullshit response...
We're talking a few thousand assholes running us all into oblivion....there is no fucking excuse for "NOT" uniting....
And the old American tradition of peaceful protest to spread non-propagandist facts.
pray tell, some dude "made a billion dollars" on
a monday, a dark one. i read it right here and i really do not
know what it means. you know, there was never a "duke of earl"
other than the singer himself. anyway, you are right.
It only looks like a few thousand to you. It is 20 million or 50 million. It is why in the end except for a few at the very top you have to grant amnesty. Otherwise you become the mass murderers they are. And your soul will be as corroded as theirs.
Blindman,
Is that a quote and if so where is it from?
It reminds me of: "that the creation itself also will be set free from its slavery to corruption ... 22For we know that the whole creation groans and suffers the pains ..."
my tears have tears to drown
the embers of our frowns,
i just make this stuff up as
other people's words move me.
it is probably plagiarism of the akashic
record on a preconscious level? i don't
really know but my hope is that people
will read some of it and think, comment
and act in more interesting and constructive
ways. i probably should have learned to write
before i took up commenting on the internet.
thanks for the link and quote scaleindependent.
duplicate
Jeremiah 12:11
It will be made a wasteland, parched and desolate before me; the whole land will be laid waste because there is no one who cares.
Great interview, smart guy!
Reminds me of Jim Grant. I like him.
Too much Truth-i-ness. I see a nail gun in his future.
He said CASH was a the best investment right now. Uh! Oh! 3 1/2" stainless decking nails.
Jesse Livermore
and Jessica Dyerless.
Curious how we're starting to see a heavier dose of QE criticism by the MSM lately. It's almost as if they're up to something.....
The massage is over. Now that you're relaxed, it's time to cut your throat! Long Pig anyone?
There is no central planning.
There is only liquidity.
This guy is credible.
I'm not sure how scary it is, but it is exciting!
Popcorn sales should be through the roof!
I have no money in the markets, so I'm just waiting to see how these gambling mother fuckers can burn down everything I have worked and saved for, for the last fifty years. I'm sure it will be interesting.
Viewing this interview should be mandatory homework for the Fed chairman and all governors. (so they know this gentleman and a growing amount of others see right through them).
<”...19 trillion..TRILLION!! in debt and all along our voted in reps. raised the debt ceiling...over and over and over. Why? Its called having no accountability and a country club lifestyle…”>
Partially correct, the American people love it! They have been taught to believe debt is good, buy on credit, help keep the economy going! Ask the average American about the $19 Trillion, they don’t have a f***ing clue what you are talking about and don’t care. They want the freebies and enough ‘Trickle-down’ to buy more toys. They want their entitlements and they know ‘austerity’ means it goes away. Just try weaning the entitlement society off the government handouts…every city will burn. The debt has to increase forever, unless Pres Trump just says “F*** You, we are balancing the budget and every government worker who cannot show they are productive, is gone!” Then who will give out the handouts? Social Security checks? Medicare payments? Medicaid? EBT cards? Veterans benefits?. There would be huge marches on D.C. Even Joe, the f***ing 300lb couch potato plumber, would march if you took away his HDTV, chips and beer.
There is no way back…and no way forward. Mr. Market will soon cleanse the excesses and much pain is coming. When the Fed-induced stocks and housing bubbles deflate, it will get real ugly, real fast.
The absolute worst thing for the lemmings is a nervous Fed, and we now have a very nervous Fed. They went from, ”All is wonderful, we are so smart we engineered a successful recovery…time to raise rates”, to “No hike for now”, to “We may need more QE soon!”
LMFAO.
By "Plumber" I'm assuming you mean a working plumber? I hear and understand your rage but there are no 300 pound working plumbers in this country. I have plumber friends that do extremely well. I asked one of them a few years ago if he had been hit by the last recession. He laughed and said "No Ed, you know why? Because everybody needs a working shitter."
Good plumbers do. Shame is my folks told me I needed to go to college. Me. With a 2.25 out of a Catholic Prep high school. Went to College, paid my own way. Flunked out after three miserable years while I held a full time retail job. Jobbed it here and there. Barely made it. Got into the masonry trades. Started making a living years later. Got into the Historical Masonry Restoration aspect. Made a better living. Started my own business. Did even better.
Too many people are obsessed with this idea of college. If little old me had to do it all over again, and I really wanted to not OBEY my 2nd generation European parents, I'd have gone to the nearest trade school or hooked up with the Electricians, Carpenters, Plumbers or maybe the Bricklayers. One never knows what the end will be. One does have tremendous hindsight as the years go on.
And this is the aspect of this Spitznagel. Hindsight. What do you really want? You want a draw, you want even, or do you want a loss? Who do you follow? Where is your money going? Who has the answers? Big questions, I know, coming from the trade of Historical Restoration Specialist. But I'm sure you know what you learn from History? HINDSIGHT! At least I hope you do.
Anyone listening out there?
The Old Man
Yes, there's always someone listening, rest assured ...
Stop complaining, we're all rich now
So long bonds do well til when??
"I think that another generation will look back and say 'how could you have made that mistake all over again? How could you have failed to understand Hayek's notion of the fatal conceit, that central planners can't do better than the dispersed knowledge and signals of free market processes?"
"Great myths die hard. And I think what we're witnessing today is the slow death of one of the great myths of human history: this idea that centrally planned command economies work, that they're even feasible, and that they can be successful."
These statements assume that TPTB are inept, or misguided. What if they are very shrewd, and accomplishing exactly what
they want. Is inequality a big accident? Has wealth concentrated down through the centuries from mere chance?
I figure TPTB say "fuck the invisible hand", because that isn't a sure thing. Left to the whims of a capricious market, where
would they turn to socialize loses, while guaranteeing the privatization of gains? This fucker knows this as well; either that or
he's a dumbass.
I think you just stumbled into the problem, tyrannts hate free markets, they hate free anything ohter than a free ride on the back of the lower classes they exploit with the power of centralized gov't.
Tyrants act not just through officially declared "states", but the undeclared states-within-states of large banks and corporations. Contrary to the right-libertarian belief, there is a critical mass at which it is more profitable for a corporation (in the short run) to maintain its existing strong market position and parlay this economic power into political connections, as opposed to innovating. This effect is strongest in companies that are owned by private shareholders, who are by definition completely divorced from the work of said company.
There is no such thing as the invisible hand, there are many hands, large and small, that affect economic outcome. The largest is of course from the government, but large corporations also have the ability to affect economic outcomes in the broader economy.
If we had a genuine Libertarian framework there would be no all-powerful government for them to run to and bribe for protection and assistance. I agree their size would eventually limit their relative innovation prowess and decrease their efficiency. This would prevent the monopoly from forming in the first place or at least make it much more fragile. It has never been tried properly and is the only "ideology" that relies on free choice for everyone, centralized force against no-one.
My point was that after a certian critical mass corporations gain economic, then political power, and divert most of their energies to maintaining or gaining control over existing assets rather than innovating organically. In the absence of an officially declared state organization they will gain political power for themelves unofficially. This is how the Pinkerton Detective Agency, among other private organizations, was created.
A system in which workers control the operations of corporations, while an investor board negotiates with the worker-chosen management board to determine the terms of investment, would be ideal. Although corporations may grow large there would be far less concentration of power in small groups of large investors who tend to spearhead mergers, acquisitions, and other attempts to merely control existing assets. In a worker-operated enterprise such mergers and acquisitions which only expand market position to the benefit of a few investors would be most likely rejected.
Remember the name, I think many people will be looking back and thinking how could we have not listened to this guy, one of the few who is able to look through the crap and see the truth. One very very sharp dude.
He is just scared because that is when he really has to work and prove himself like many on Wall Street or in Private Banking.
- Got to coast since 2001, right Banker-Boy, Spitzenagle??
- Who gets the blame when Funds lose money?
- Can you blame the people Laid off when the funds lose Money?
- Or do you get to say, you weren't trained or experience enough to deal with the Federal Reserve Rate Hikes??
- Everyone Points Fingers, the Losers lose their job and take the blame, but wow nice compensation and bonuses until you get toss on your butts, TBTJ
- Pussy Generation of Bankers, Traders, Schemers, Financial Raters, State, Local, Federal Financial Officers,... University Financial Officers, ... US Congress... State Representatives... Foundation Managers... And Most of ALL BAR ASSOCIATION Members & Leaders... Fuck the US Lawyers!!!
Fuck Big City Lawyers!!!
Fuck you VICHY DC.
Fuck You VICHY Wall Street.
So sorry, me Lords, you never learned humility.
The Ego is very strong in ZH.
Fuck you Lawyers and clingers on.
ZH has it's share of Ego Wants and Ego Needs. It is disgusting.
_pussy Whiners for FED hand-outs and Federal; Fiscal Stimulus.
You make me sick. Corporate Bail-Outs make me violent. Wall Street is a Virus/Sickness/Mental Illness/Psy-Op, Fuck You ALL!!!
Stay classy San Diego!
You know, in german, that means 'whale's vagina'.
Sorry maybe just trolling, but gave you guys a point.
I drank 700 ml of whiskey. Seems I can still type but there is a question of how must i know about QT Theory, Theory about Velocity in the Economy (which I still say should be larger and more of a target for the FED, as the US Velocity is the lowest its ever been on record for like 30-40 years)
So Question: Where should US Velocity be, Where should the US Federal Reserve owned by Private Stockholders Target the US Velocity of Money Stock/Money Levels increased in the US Economy?
I'm just asking.
How should we manage Stewardship of the US World Reserve Currency in a time of Crisis and in normal times?
It should be handled with the top most care.
It should be handled the same in crisis as in non-crisis times... this is responsibility... this is good management... this is control and responsibility.
WTF.
Oct 2005 was the Top of the US Real Estate Market.
So what were the big Bankers doing, Planning, and scheming in 2006, 2007, 2008, prior to the 2008 Public Admission of a Banking Crisis(Really it was a global Banking Crisis, but they didn't admit that, they didn't apologize, they didn't mention that they nearly started a world war)
I'll try this line by line.
Congratulations, I hope it was good whiskey.
US Velocity, who knows. Its been manipulate for so long that its hard to really say. Without true pricing in the markets and economy, we don't even know what size money stock we really need. And as for the FED, I still don't know why these guys are still doing the US Treasury Dept's job for. The Peoples bank should be owned by the People. It is the people's money after all.
Glad you asked, never stop.
How should we manage the global reserve currency, well obiviously not like this. Maybe try a physically backed currency again, backed by a global free nonpaper delivery only gold and silver exchange. Debt free currency.
The next three are statements and , yes.
2005 man the bubble was still climbing glasses were rose colored.
2006-2008, it takes a second for the greed beer hookers and blow glasses to fall off. That's my guess.
Thanks.
I never saw the connection to true pricing in the markets. So maybe I can keep on the lookout now.
What happened to Kyle Bass? I liked that guy and he had some amazingly prescient videos. He used to get quoted on here regularly.
Sharing isn't profitable?
Two good, short, recent videos of Bass right here:
http://www.ftense.com/2015/09/kyle-bass-on-china-emerging-markets.html
Excellent! To put it bluntly, I love watching and listening to people who really know shit.
I think it was Hume who stated (paraphrased), "People do not know all truth but they have the ability to recognize it when presented with it." I may have the wrong empiricist.
This is the honest truth of investing today. Sad but true, and wise. So nice to hear someone in the know admit it. Essentially it means that thanks to the Fed’s ZIRP, the best an investor can do in the long run is lose as little as possible after inflation and taxes.
And against this backdrop, which they created, the central planners are perplexed why people don’t save for retirement. It’s a mad, mad, mad, mad, world.
Its the toughest position for a person like him because it bears no interest. That is also the source of the FED's hate of it.
The dude made money because he understands what's going on. Notice how he didn't gloat though.
Great point but lost on these dolts who all they can come up with is BTFD. Sold most of my TVIX I picked up a three days ago before the close today and bought some SVXY because I know some hopium and BTFD will levitate us some next week so I wil sell SVXY after two or three days to the upside which I think we will see. Then it is time to buy some more TVIX. However I still kept 20% of my TVIX just in case we see a shocker and the VIX gets set free to the upside. This market will stair step down with a couple of shockers like the black Monday that made Mark a billion.
The guy has a head on his shoulders. He doesn't like the circumstances but he's still making money for his clients despite the insanity. Lay off of him you morons. ("He's a jew!" "He's a NAZI!" What a bunch of dickwads there are on this site.) As if any of you retards are making that kind of wealth for your clients.
We need more of this type of speak happening in the MSM.
So true sometimes I think most of these trolls on ZH sit naked in front of their MacBooks stroking it while wearing one of those V for Vendetta masks.
And having not one clue to what that book was really about.
not that there's anything wrong with that, hold up, don't you hate it when the cheetos orange stains you?
No just a American Kraut. Marks his name.
If I made a billion dollars doing anything, I'd have a better pair of glasses.
Hard to tell the difference between the lookety-box humour sketches and Defcon 1 readiness-serious financial reporting. Its all...well it rhymes with DullSpritz.
https://search.yahoo.com/search?p=mark+spitz+and+carol+burnett&ei=UTF-8&...
Kyle Bass, Grant, Harry Dent (That's a tough name), Turd Ferguson, Goldenses Jakasse, that scotch asian dude, midget yellen. This is just better than any Barnum & Baileys. Opera Buffo, ha-ha!
You know, this guy makes a lot of sense. If he got one of those machines that makes zany noises while you maniacally push buttons people might actually pay attention
Like the wizard in oz? Wasn't that an analogy for the industrialists scrapping the silver standard?
It was about the dropping of the gold and silver standard. Yellow brick road and in the book the slippers are silver not ruby like the movie.
Like the wizard said: "We're done here!" ;)
Done saved $200 at that titty bar, get for 100 next month
Hedgemamon
Do I have to wait for Holloween to be SCARED? I will answer my own question. No way. Preparedness smart people.
I wonder when the collapse is actually going to happen...can someone please give me an actual date?
It's happening before your eyes, but like the last bear in '08 the first drops were blown off, so were the second sell offs, then by November the president was talking about bailouts. Not sure how it will all play out this time but the Feds failure to move this time finally woke up even the most hard head perma bull that we are @#$#&%!
i'll give you a date, your mama
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its alreeady scary, the first openly gay civilian appointed as secretary of the army, instead of attacking we can just throw a fabulous dinner party for our enemies
Well, it appears as though bombing and wars haven't solved a dam thing for centuries, perhaps the 'dinner party' would work!!! A hole!
most of those ragheads wear dresses anyway, so we could too. and you can eat the cracker after the circle of love.
He is smart. The interview was too short.