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"Nothing's Safe" Passport's Burbank Warns "The Liquidity Of Everything Is Being Taken Down"

Tyler Durden's picture




 

Having warned that "we are on the precipice of a liquidation in emerging markets like the fourth quarter of 1997," Passport Capital's John Burbank sits down with RealVisionTV to discuss why "the Fed would eventually be forced into a fourth round of quantitative easing to shore up the economy." Being among 2015's best performing hedge funds, successfully navigating this turmoiling unwind of the Fed's efforts to "mean-revert" the world's assets back to normal, Burbank concludes, "nothing's safe," no matter what The Fed does, "the liquidity of everything is being taken down."

"The market is now going to discover just how much liquidity [or lack of it] is actually in the market."

 

"QE in Europe is not the same as QE in The US"

 

"There's just not enough dollars out there... everything will be liquidated"

Click image below for link to brief RealVisionTV interview:

Source: RealVisionTV

"What we learned after the financial crisis was that The Fed is able to reflate assets in The US and The World... for a time.

 

What The Fed learned was that their models don't work - they didn't have the GDP/Economic effect - and to interpret what they are doing,

 

I think they realize the more they do this, the more they can't get out of it, and the more they pervert markets... and I believe they want to get out of it."

*  *  *

Full interview available here.

 

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Sun, 09/27/2015 - 18:02 | 6600133 junction
junction's picture

Party like its 2008!

Sun, 09/27/2015 - 18:21 | 6600178 Mostly Harmless
Mostly Harmless's picture

So the take away is:

The Fed screwed up the market with QE.

They know this and want to get out.

…but the only thing they can do is more QE and blow a bigger bubble.

Did I miss something?

Sun, 09/27/2015 - 18:26 | 6600193 Never One Roach
Never One Roach's picture

So the take away is:

 

Bullish!

Sun, 09/27/2015 - 19:15 | 6600305 logicalman
logicalman's picture

So, the takeaway is......

The world's financial system is based on bullshit theories, supported by lies, backed up with the threat of violence.

Sounds like a really good way to run the place.

I think Douglas Adams pretty much nailed it.

“This planet has - or rather had - a problem, which was this: most of the people living on it were unhappy for pretty much of the time. Many solutions were suggested for this problem, but most of these were largely concerned with the movement of small green pieces of paper, which was odd because on the whole it wasn't the small green pieces of paper that were unhappy.”

Sun, 09/27/2015 - 19:27 | 6600338 Berspankme
Berspankme's picture

and lots of coke addled traders

Sun, 09/27/2015 - 20:34 | 6600505 BringOnTheAsteroid
BringOnTheAsteroid's picture

Humans are notoriously arrogant.

We are a failed species, sad as that is.

If we didn't have nuclear reactors and nuclear weapons we'd survive our own stupidity and hubris.

Unfortunately this is not the case.

The earth will shake itself (maybe in our lifetime) of it's infestation of humans fleas.

I often wonder how many other planets and civilisations have trod the same path.

I wonder what brain structures are resilent against greed and violence.

Maybe a brain structure not based on a reptilian brain stem.

Just how bad our biological engineering is, is all the evidence of evolution you need. We are a patchwork quilt of systems built on the lowest common denominator.

Bummer for those people who chose to have children in these last couple of generations.

Real bummer.

Sun, 09/27/2015 - 20:39 | 6600516 logicalman
logicalman's picture

I share your 'optimism'

Sun, 09/27/2015 - 18:47 | 6600253 weburke
weburke's picture

look back, when volcker raised rates the imf rescued the world.

 

Sun, 09/27/2015 - 18:53 | 6600267 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Stupid is as stupid does.

Sun, 09/27/2015 - 20:49 | 6600542 Barrack Chavez
Barrack Chavez's picture

Corrupt and flawed is as Bernanke does.

Stupid is the old lady who steps in to hold the live grenade "just for a sec" while Bernanke flees the building...

Sun, 09/27/2015 - 21:06 | 6600584 Lets Buy The Dip
Lets Buy The Dip's picture

We keep hearing how the market will drop to ZERO since 2008, but look where we are. UP sky high, and only dropped 100 points or so. 

Plus if you want to see how the market will rally soon, get your hints from the stocks, indepth hidden behind in the market sectors. 

One is NIKE  chart, HERE ==> http://www.bit.ly/1fMcakI Its going to be a $160 stock soon. Took the calls there on FRIDAY. WOW!!!! at new highs while the market looks horrible. The chart looks ridiculously good!!!

 

There are people in here, sitting behind their screen, with pants down looking at all this bearish porn, but it never works out.....ever!

Just a heads up. The govt is set up to jip the bears every time, and it works every time. What happens if qe4 comes...then what do the bears do. LOL haha. 

Mon, 09/28/2015 - 00:11 | 6600900 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

Actually, the Fed can do moar than blow bigger bubbles with QE Infinity. The Fed can kiss my ass too. So, yeah, I think you missed something.

Sun, 09/27/2015 - 18:31 | 6600203 ebworthen
ebworthen's picture

Party like it's 2001!  Party like it's 1929!

Global Pyramid scheme, crushing the middle class, keeping the poor down!

Sun, 09/27/2015 - 18:54 | 6600273 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

They love the poor so much they will make all of us poor!

Sun, 09/27/2015 - 19:07 | 6600291 Urban Roman
Sun, 09/27/2015 - 19:11 | 6600296 Never One Roach
Never One Roach's picture

Barry has reduced the size of the middle class to three families so the final blow wil not ripple out that far anymore.

 

At least "the poor shall inherit the earth."

 

So that's something, right?

Sun, 09/27/2015 - 19:30 | 6600344 Things that go bump
Things that go bump's picture

That should be blessed are the poor in spirit for theirs is the Kindom of Heaven - nothing for them in this life. I believe its the meek who inherit the earth.

Sun, 09/27/2015 - 23:10 | 6600832 TheSecondLaw
TheSecondLaw's picture

"It's not the earth the meek inherit, it's the dirt." - Lerner and Lowe

Mon, 09/28/2015 - 00:16 | 6600906 Things that go bump
Things that go bump's picture

Six feet deep, 8 feet long, 2.5 feet wide, 

Mon, 09/28/2015 - 09:34 | 6601464 TxExPat
TxExPat's picture

Blessed are they who expect nothing, For they shall not be disappointed...

Sun, 09/27/2015 - 19:15 | 6600308 logicalman
logicalman's picture

Just fucking party!

Sun, 09/27/2015 - 18:52 | 6600240 ZH Snob
ZH Snob's picture

the lack of dollars is the worlds problem, while the resulting QE4, 5 and 6 will be the USA's problem once the EMs go through the liquidity.

Sun, 09/27/2015 - 20:11 | 6600452 tempo
tempo's picture

Francis is a brilliant economist....the take away is that its compassionate to the poor and marginalize to create money and then give it away. Didn't the Pope just tell us love and care for the poor. QE4 is the perfect solution to all problems.

Sun, 09/27/2015 - 23:34 | 6600860 pachanguero
pachanguero's picture

Here in Thailand the Property market is set to blow like the world has never seen.  The mal-investment is huge and no one has any idea what the risk range is for this bubble.

 

Mark my words that this is going real ugly real fast....

Mon, 09/28/2015 - 02:50 | 6601016 buttmint
buttmint's picture

pacha...yes, true and if the old man takes a dirt nap---anything can and will happen.

King Thaksoin would like to be crowned....por favor!

And of gambling is legalized, the entire fabric knonw at Thailand gets 86d reoh reoh.

Sun, 09/27/2015 - 18:04 | 6600136 joego1
joego1's picture

He said "Market Perverts" hee hee..

Sun, 09/27/2015 - 18:19 | 6600171 buzzsaw99
buzzsaw99's picture

+1 i was going to pan this article until i saw the word pervert in there

Sun, 09/27/2015 - 18:27 | 6600194 Never One Roach
Never One Roach's picture

The Babes are on page 2.

Sun, 09/27/2015 - 18:07 | 6600144 q99x2
q99x2's picture

California has more clouds than that guy has hair on his head. Looks like someone took a pencil and drew on his scalp. Put him in a contest with Bass and he might win.

Sun, 09/27/2015 - 18:12 | 6600152 OC Sure
OC Sure's picture

Separately, there is the production of value and there is the production of "liquidity."

Together, "liquidity" necessarily is the destruction of value. 

(Oopsies, who could have known?)

Sun, 09/27/2015 - 18:13 | 6600155 dimwitted economist
dimwitted economist's picture

I think buying Gold is a good idea.. (But what do i know?) i like Silver too! 

Sun, 09/27/2015 - 18:17 | 6600163 perelmanfan
perelmanfan's picture

A story as old as time. The desire to suppress all pain leads to intense, long-lasting pain:

  • Eat sweets all day and never let yourself feel hunger - type 2 diabetes.
  • Give every child a trophy just for participating - apathy and entitlement.
  • Numb any and all pain with ethanol - alcoholism.
  • Prevent an economic downturn with ZIRP/NIRP and QE - malinvestment, then collapse.

Pain is not bad. Pain and pleasure define each other; our dance with them is the dance of life. One wonders how often the lesson will need to be taught.

Sun, 09/27/2015 - 18:21 | 6600176 lordbyroniv
lordbyroniv's picture

the sweet is never as sweet without the sour

Sun, 09/27/2015 - 19:18 | 6600317 logicalman
logicalman's picture

At my daughter's christening I made a wish for her future.

I wish you just enough sadness in your life to truly appreciate happiness.

So far, she's a bit light on the happiness, but I think she's getting there.

 

Sun, 09/27/2015 - 18:42 | 6600230 RaceToTheBottom
RaceToTheBottom's picture

Bail out Banks and get shitty banks that cannot survive without Bankster welfare.

Sun, 09/27/2015 - 18:50 | 6600262 msmith9962
msmith9962's picture

A stich in time saves nine?  I've had this discussion with a few people lately.  I would like to be a nice guy and buy my kids a treat once in a while.  A candy, an ice cream cone.  Problem is the whole fucking world gives kids candy all the time.  It's no longer a treat, so instead, I'm the bad guy telling people to stop giving my kids fucking candy all the time. 

I lost it on my in-laws a few weeks ago when I told them to fuck off with 3rd piece of cake and they looked at me like I was the crazy one.

Sun, 09/27/2015 - 19:43 | 6600376 InsanityIsWinning
InsanityIsWinning's picture

Why is this so obvious and logical  . . . and yet, well my handle says it.

Sun, 09/27/2015 - 18:19 | 6600173 BlueStreet
BlueStreet's picture

Fed can't do more QE for at least 6 months without looking even more behind the curve than they already are. By that time the s&p will have dropped 500 more points and they will have their excuse. Let's just enjoy the bear party. 

Sun, 09/27/2015 - 18:28 | 6600197 Sudden Debt
Sudden Debt's picture

They can, but nobody ever forced them to tell us.

 

Sun, 09/27/2015 - 19:15 | 6600307 Never One Roach
Never One Roach's picture

QE will not work for long this next time. That's scary to me since that means a high chance of war to stimulate the economy and get all those idle minds off the streets ... if you look at history.

Sun, 09/27/2015 - 18:24 | 6600184 Sudden Debt
Sudden Debt's picture

He's talking about the derivative crisis.

It's the air between the real value of a option and the air that's it being sold for.

And that's kind of a problem because the derivatives market is a zero sum market.

The liquidity doesn't exist but it's not really needed either.

 

Sun, 09/27/2015 - 18:26 | 6600188 yogibear
yogibear's picture

"the Fed would eventually be forced into a fourth round of quantitative easing"

You can see it coming.

The Federal Reserve has to keep doing QEs until the market says they have had enough.

Negative rates and QE4, QE5, QE6.... Just like Japan.

Japan is a preview of the US future. The Fed's grand experiment will fail and lead to a currency crisis.

Sun, 09/27/2015 - 18:28 | 6600199 joego1
joego1's picture

Pass me that Picknic basket of fiat boo boo.

Mon, 09/28/2015 - 06:07 | 6601099 Watchingtheweasels
Watchingtheweasels's picture

>Japan is a preview of the US future.

Japan at least has the wisdom not to import Central American drunk drivers and Muslim terrorists to try and stem a demographic crisis.  Life's gonna be good in Barrybush's USSA.

Sun, 09/27/2015 - 18:29 | 6600201 Tinky
Tinky's picture

How long, exactly, would QE4 have the desired impact? A week? A month? A year?

The market's reaction to the preferred option (i.e. no rate increase) should serve as a warning.

Sun, 09/27/2015 - 20:45 | 6600530 Barrack Chavez
Barrack Chavez's picture

QEx will never fix the economy. 30 years and counting in Japan (even if they used a different label) and it has produced failure and unpayable debt.

QE by yet another name has been in effect in Bolivia and Zimbabwe for even longer than Japan. Not working in those places either.

Americans simply don't have the patience for this kind of rancid failure.

Yellen is having "dehydration" problems because she is slowly realizing that Bernanke passed her the grenade with only seconds to go before it explodes

Sun, 09/27/2015 - 22:41 | 6600777 delacroix
delacroix's picture

yellen had a liquidity crisis, it's an omen

Sun, 09/27/2015 - 18:32 | 6600204 Peter Pan
Peter Pan's picture

The central banks have one of two choices if they are to interfere any further.

They either allow rates to rise back to market levels and allow that process to slash and burn what isn't worth sustaining

OR

there will have to be some sort of debt jubilee to counterbalance haircuts to savings and secured creditors.

Their insistence to date on bailing in savers and creditors without providing relief to debtors so as to shore up the banks is misgided and without any multiplier effect. 

Sun, 09/27/2015 - 19:01 | 6600283 espirit
espirit's picture

Pan

Just remember the Mud Dwellers live in an alternate universe.

Savers == Bad

Debt Junkies == Good

Sun, 09/27/2015 - 22:44 | 6600783 delacroix
delacroix's picture

a rise in interest rates, will blow up the feds balance sheet. more qe will blow up the currency

Sun, 09/27/2015 - 18:35 | 6600209 franzpick
franzpick's picture

DJIA, SPX, RUT and other indices are about to discover how little liquidity remains for equities down just 1.5% as they discover new 1.5-2.0 year lows aren't safe either:

http://stockcharts.com/h-sc/ui?s=%24RUT&p=D&yr=3&mn=0&dy=0&id=p50719682452

Sun, 09/27/2015 - 18:36 | 6600210 falak pema
falak pema's picture

Well lets get out of it and avoid blowing up the world; there are a lot of people now who are getting caught in the hate game of looking for scapegoats to the point of losing all semblance of civilization.

Markets are dead and the living are looking more zombified.

Keep treading water and never say die.

These fiat kings are tying a noose around their own necks with the liquidity asymptote of diminishing returns.

Sun, 09/27/2015 - 20:30 | 6600490 consider me gone
consider me gone's picture

Asymptote. There are not many sentences that that word can be used in meaningfully, but you pulled it off. +1

Sun, 09/27/2015 - 18:36 | 6600211 Amish FinEng
Amish FinEng's picture

So listen Zero's, let's have a little pow-pow here. Have you noticed the lack of "participation" this weekend?

Do you get it without me spelling it out for you?

Where is Waldo(s) this weekend? Some special .gov team building event? Find the event and we'll get closer to finding the team.

Jewish holiday weekend? Israel?

Sun, 09/27/2015 - 19:15 | 6600257 Amish FinEng
Amish FinEng's picture

Lucy, where are you? I am the 100th monkey.

https://en.wikipedia.org/wiki/Hundredth_monkey_effect

Sun, 09/27/2015 - 18:49 | 6600259 jusman
jusman's picture

I did actually.  Less articles than normal.  Must be the Pope's doing?

 

Sun, 09/27/2015 - 18:56 | 6600277 Amish FinEng
Amish FinEng's picture

Exactly.

Sun, 09/27/2015 - 19:21 | 6600323 Berspankme
Berspankme's picture

Catholic sock puppet was pretty busy speaking for nwo

Sun, 09/27/2015 - 18:37 | 6600212 RaceToTheBottom
RaceToTheBottom's picture

QE to infinity.
It was always planned. It will be interesting to see how many different reasons they use before people get the con.

Sun, 09/27/2015 - 18:45 | 6600237 Peter Pan
Peter Pan's picture

QE to infinity will result in an uncontrolled debt jubilee by default for the simple reason that the system will fail under the weight of additional unbacked debt.

Sun, 09/27/2015 - 20:40 | 6600518 Barrack Chavez
Barrack Chavez's picture

debt jubilee?

Think you meant to say DEFAULT

Don't tell the academics. For hundreds of thousands in tuition, they are still claiming that debt is "risk free". Too many PhD's have too much invested in that flawed theory to allow default, and no one will be fooled if you try to market the default as jubilee

Sun, 09/27/2015 - 21:53 | 6600686 RaceToTheBottom
RaceToTheBottom's picture

You can bet those same ducational institutions that produced the PHDs in economics fiction, will be first in line to have the government bailout their non performing loans and bailouts when student loan defaults drive down the number of students down by half.

Mon, 09/28/2015 - 01:08 | 6600953 azusgm
azusgm's picture

Hint to those distressed educational institutions: Do not even consider filing bankruptcy. Such a filing immediately cuts off your hallowed institution of learning from the federal student loan program.

Saw it happen with a little 2-year school that had been able to keep its doors open through the Civil War, Reconstruction, WWI, the Great Depression, WWII and right up to 2012 when the college "leadership" "invested" heavily in athletics in an effort to boost enrollment.

Mon, 09/28/2015 - 01:28 | 6600972 Barrack Chavez
Barrack Chavez's picture

When banks wrote bad loans and sold them to FNMA/FHLMC etc, the banks were (eventually, after a long delay) forced to buy those bad loans back -- and take the losses on their books.

When colleges underwrite bad student loans, why shouldn't the exact same laws apply? Force college endowments and pension plans to buy back the loans and let the colleges absorb the losses (split the losses between the schools and the professors who actually failed to teach).

If full time students must take 4-5 courses per semester, 8-10 per school year (pro-rate for trimester schools) -- why are lazy goof off professors paid a full time salary for teaching (with a grad student TA) only 1-2 classes? How many of them produce meaningful research each year to make up the difference? Not just research paper, but research substance? Not too many.

Why are schools allowed to run very profitable sports franchises while claiming to be tax exempt? Why don't they pay their athletes a fair wage? Too many athletes graduate without being able to read/write at even a high school level. Its fraud.

Why are the largest employers and land holders in many cities tax exempt? Why should poor people pay property taxes (directly or via rent), while Harvard is exempt and sits on a $40 billion endowment?

Sorry folks. Education is priceless, which is why schools were given tax exempt status back when. Colleges, both "for profit" and "tax exempt / diverted profit" colleges have become scams.

Sun, 09/27/2015 - 20:38 | 6600513 Barrack Chavez
Barrack Chavez's picture

People already figured out the con. Janet is very slowly figuring out she is in line to become the fall guy... um, fall gal.

Love'm or hate'm, Trumps candidacy proves Americans won't be as patient as Japan. Janet won't get 28 years to realize Bernanke's stupidity didn't work.

Sun, 09/27/2015 - 21:56 | 6600694 RaceToTheBottom
RaceToTheBottom's picture

Elections are still a long way away and Trumpster has a lot of people gunning for him.  His record of not shooting himself in the foot is not perfect.

 

Right now the Economic and political bozos are coming up with alternate reasons why we are in the shitster.  

SOny VS Beta.  The best does not always win.

Sun, 09/27/2015 - 23:19 | 6600841 Barrack Chavez
Barrack Chavez's picture

Trump would be out of the race already (maybe never in it?) if the corrupt group in Washington (both parties) hadn't made such a mess of things

Not sure why you felt so defensive about my comment?

Sun, 09/27/2015 - 18:40 | 6600221 earleflorida
earleflorida's picture

Qex+1 = FAIL=  a negative gravity feed-back loop having a regulatory inlet/outlet valve blocked by a liquidityp&ltrap, encumbered by a dysfuctional/ dated fed-float

Sun, 09/27/2015 - 22:53 | 6600802 Crocodile
Crocodile's picture

From Dr. Jim Willie.

Sun, 09/27/2015 - 18:48 | 6600254 lostintheflood
lostintheflood's picture

but what does this mean to ME?  we have no debt and we own our home...so we don't need to stinkin' liquidity...right?

Sun, 09/27/2015 - 19:17 | 6600313 Never One Roach
Never One Roach's picture

Sorry to say, you are one of the frugal screwed ones. The "winners" are the debtors. Savers are sodomized royally.

Sun, 09/27/2015 - 19:02 | 6600284 optimator
optimator's picture

Eveeryone will be a millionaire, Welcome to Weimar.  (5% will be billionaires).

Sun, 09/27/2015 - 19:04 | 6600285 Quantum Engineer
Quantum Engineer's picture

Same here flood

Sun, 09/27/2015 - 19:58 | 6600416 o r c k
o r c k's picture

Violence indeed. Seems that since WW2 every human act reflects a form of violence. I remember as a kid in the early 60's that the media solved every problem (on TV, movies and radio) with weapons, and every contact with wild animals with killing them. We all had fake guns and fake gun-fights till infinity. When I started skin-diving it was natural to kill every living creature I came across. Ofourse, persons with a conscience outgrow that madness. Right?

Sun, 09/27/2015 - 20:43 | 6600525 BringOnTheAsteroid
BringOnTheAsteroid's picture

Outgrowing - cop out.

If everyone is given the grace of outgrowing this behaviour then the behaviour exists for as long as humans do as there is always another human waiting to outgrow it.

I detest humans who kill wantonly.

Detest.

There's not even an example of animals who kill for the sake of it, which puts us beneath animals.

Mon, 09/28/2015 - 02:02 | 6600998 Miffed Microbio...
Miffed Microbiologist's picture

I came home once to a brutal scene. 25 of my laying hens were slaughtered in their yard, bodies strewn everywhere. This was no ordinary predator attack. My wildlife night camera showed a pair of domestic dogs digging under the fence for another round. They were dispatched as there is no other way to deal with such a problem.

I found it interesting domestic dogs often kill for fun while coyotes and Bobcats kill for food, taking one bird at a time. One must be " evolved" to hunt for pleasure it appears and I share your disgust for this.

Miffed

Mon, 09/28/2015 - 02:35 | 6601011 BringOnTheAsteroid
BringOnTheAsteroid's picture

I avoid stepping on ants and snails if I can help it because even a lowly snail that exists at this moment in time is the result of an unbroken chain stretching for hundreds of millions if not billions  of years into the past.

Nothing is more sacred, nothing is more precious than this infinitely complex series of chemical reactions that have produced immense complexity.

Killing for the sake of killing is the ultimate in pure evil and it's so ironic as you point out that appears only in higher life forms.

As a brief aside I would love to know of other systems in the universe and whether they rely on the food chain for continuance. I find it intriguing that the body of one animal must find it's way to the inside of the body of another animal for the later to survive. Other than photosynthesis and the more bizarre extremophiles that can eat sulphur I wonder how many more bizarre systems there are in the universe.

Mon, 09/28/2015 - 09:04 | 6601374 kareninca
kareninca's picture

According to the Gnostics, this is because the Demiurge created the world (and God didn't).

Mon, 09/28/2015 - 14:25 | 6602805 Miffed Microbio...
Miffed Microbiologist's picture

It's a fair explanation to the problem of evil inherent in our world. I myself can never resolve Plato ( mystic) vs Aristotle ( scientific) which at times seem so diametrically opposed instead of complimentary.

Miffed;-)

Mon, 09/28/2015 - 14:10 | 6602728 Miffed Microbio...
Miffed Microbiologist's picture

I must admit your post surprises me. You demonstrate a sense of Connection that I have rarely found in another. Frankly, I'm blown away. So many today cannot put aside the endless distractions rife in our world today to begin to have this perception. I do understand your contempt of religion with a infantile structure based on belief. What you describe transcends belief to a spiritual experiential " knowing".

I am confused as to your personal definition as atheist. Perhaps I misunderstood you. You seem to have a strong sense of the synchronicity and complexity of this universe we find ourselves and I share your inquisitiveness as to other worlds and our relationship to them. I have an innate sense this is not all there is but the true meaning and explanation is veiled to us in this life.

I was contemplating Bells Theorem in that it may explain the likeness of our world to other worlds even with incredible distances between them. However, I hope if true, they have not descended into such destructive disregard for life as we have in ours and if there is a reincarnation, I may be able to visit another world more sympathetic to my outlook. As the days go on, I feel like an alien on this planet.

Thanks for the interesting post. You really had me contemplating when I should have been doing the dishes. Someday I hope to evolve to do both simultaneously for efficiency but it appears this may have to occur in another lifetime.

Miffed;-)

Mon, 09/28/2015 - 06:59 | 6601135 lakecity55
lakecity55's picture

The African Leopard has been observed to kill with no eating of its victim. It is the only observed animal to do so.

Sun, 09/27/2015 - 20:28 | 6600487 Herdee
Herdee's picture

QE for the people.To hell with helicopter money,bring a wheelbarrel of the shit to my front door so I can buy gold.

Sun, 09/27/2015 - 20:33 | 6600498 exartizo
exartizo's picture

...continuously breaking the normal business cycle over and over again results in war.

 

History has proven that. The Fed knows that.

 

They're happy to accomodate their Masters.

Sun, 09/27/2015 - 20:42 | 6600524 Botox4U2
Botox4U2's picture

they cannot take gold down. Let them try.  Gold is going up.

Sun, 09/27/2015 - 21:58 | 6600699 F22
F22's picture

Paper gold is going to zero...

Physical  gold is going up manifold.

(There, fixed it for ya.)

Sun, 09/27/2015 - 20:54 | 6600551 Barrack Chavez
Barrack Chavez's picture

Warren Buffett is complaining about too much liquidity (too much cash on his books) because he can't find anything that isn't over-priced...

This hedge fund weenie is, at the same time, complaining there is not enough liquidity? Does he really mean to say no one wants to lend him money to buy over-priced sh!t, knowing he won't pay it back?

Heads he makes 2+20 (on your money), tails you get stuck with the loss. He's just bitching that not enough people will lend him money on those terms.

Sun, 09/27/2015 - 21:14 | 6600602 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

TPTB  are siphoning out liquidity to provide good buy in points for the click.  Big banks sitting on

mountains of fiat on reserve with the Fed.  Select big multi-nationals & Private Equity sitting on mountains

of cash on and offshore.  Gotta buy when blood's in the street.  So, despite the lip service and faux

hand wringing about the deflation boogie man---that is the tool or wave down to a buy in.  The question is

who blinks first and deploys their capital, because he who dies with the most toys wins, and a lot of toys

are fixing to change hands.  Uncle Warren's toybox runneth over, he'll have to get another, but later at a lower price point.

Sun, 09/27/2015 - 21:08 | 6600586 Yen Cross
Yen Cross's picture

 Burbank makes an compelling argument.

 I think flows, or lack thereof, drive liquidity, as opposed to the opposite.

 If the markets were a garden hose, and liquidity was being slowed, it would be flow driven first.

 A hose can handle more pressure [qe], but water[liquidity] needs pressure to get pumped out.

  At this point in the financial cycle it's probably moot anyways.

Sun, 09/27/2015 - 21:27 | 6600633 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

delevraging is the blown gasket causing the pump to lose pressure/velocity.  priming of the pump is not going to

happen till those holding the liquidity deploy it, so it doesn't matter how big the hose is.  Jubilee anyone?

Mon, 09/28/2015 - 00:52 | 6600944 daveO
daveO's picture

Jubilee only happens when there is a higher authority than banksters. The last 7 years should have taught everyone exactly who is running the show. The currency will be slaughtered upon the altar of bankster avarice.

I can see another false flag war to cover their tracks. Works every time. Now repeat after me, Team USA, We're number 1! Death to Iran./sarc

Sun, 09/27/2015 - 21:08 | 6600589 Deathstar
Deathstar's picture

Gold! Everywhere you want to be! (TM)

Bitchez!

Sun, 09/27/2015 - 21:55 | 6600691 F22
F22's picture

"Nothing is safe"????

I beg to differ....physical gold is looking rather antifragile to me.  :)

Sun, 09/27/2015 - 22:05 | 6600715 FPearl602
FPearl602's picture

Oh like DUDE, innovation and human capital man, that's where it's at, man. This guy should be riding Peter Fonda's chopper right up beside Jack N. and Dennis H.

Sun, 09/27/2015 - 22:38 | 6600774 Better_late_tha...
Better_late_than_never's picture

For anyone considering subscribing to Realvisiontv, I'm really happy I finnally signed up for it a few months ago. There are lots of quality interviews on there. The latest two part interview with Fred Hickey was excellent, and I'm looking forward to the second half of of this interview with John Burbank. IMO, totally worth.

Mon, 09/28/2015 - 01:41 | 6600981 Not My Real Name
Not My Real Name's picture

Let me guess: You're married to Captain Debtcrash and your sister-in-law made $4563.84 last week working from home.

Mon, 09/28/2015 - 06:38 | 6601120 Jungle Jim
Jungle Jim's picture

Did anyone else notice what's been happening to PM prices this morning? It seems that "blood moon," "Super Shemitah" thing didn't help PMs any.

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