Bill Fleckenstein Slams CNBC "Jerk" - "Don't Get In My Face Because I Won't Join Your Party"

Tyler Durden's picture

Having been invited on to CNBC to discuss his views of the market, famous short-seller Bill Fleckenstein explained rather eloquently that QE4 is coming and people will wake up to the fact that central bankers "are the arsonists that create the fire, not the firemen that put it out." This non-mainstream view was treated with disdain by CNBC host Tim Seymour who slammed Fleckenstein for "missing out" on the "artificial market's" (because even CNBC now admits that's what it is) gains. The response was epic.

"Don't be such a jerk... I don't ask to come on this show, you invited me... and don't get in my face because I won't join your party..."

Enjoy:

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
King Tut's picture

I miss the 2008 meltdown when these Fast Money jagoffs were losing millions a day- now, after 8 years of EZ Fed money they think they're all genius investors

NoDebt's picture

Everyone is a genius in an up market.  But we've been sideways for nigh on 2 years now.  The natives are getting restless.

 

kliguy38's picture

that CNBC slimey bastard needs to have his foching ass kicked..........watta prick

Neville Bartos's picture

Looks like Willem Dafoe at the beginning of a crack addiction

Manthong's picture

I like Fleck.

I read his Greenspan book and I do not mind all of the “I don’t know”s on KWN.

But Holy F… it is worthless arguing with the shills.

I suspect that his short might start to pay off soon.

HopefulCynical's picture

I've been a Fleck subscriber for years; got an autographed copy of Greenspan's Bubbles. Brilliant and very astute. He reads ZH regularly, FYI.

He's the one who taught me to look at circumstances, and to not try to pick dates or timeframes.

He also supported Ron Paul.

Keyser's picture

Seymour is nothing but a pretty-boy hedge fund manager that regularly shows his disdain for anyone that doesn't drink the CNBC koolaid... Arrogant doesn't begin to describe his behavior on air, along with the rest of the Hitler Youth on that network... 

oops's picture

QE systematically destroyed American society. https://goo.gl/IoiSjv

I MISS KUDLOW's picture

Hey TIm its the only show i still watch from time to time on CNBC while I work,,,,,you are a worthless pos,,,,,Guy Adami knows and hinits but wont blab,,,,Brina Kelly is Ok,,,,,,,I love Carter Braxton Werth,,,,,,everyone else is worthless pos,,,,Najarian and the rest of you,,,,these guys and girls are vain if nothing else,,,,,,Dylan Ratigan and Jeff Macke left because they couldnt lie everyday,,,,,the rest of them are doing it to be famous and strip the public of its money,,,,If u still watch cramer i guess u still believe in the easter bunny and santa along with the tooth fairy

 

I watch Timmy Seymour make a jackoff out of himself for 8 years,,,,,,keep it comint timmayyy

Four chan's picture

f cnbc, i love that guy, hers the original clinton dope, enjoy and share. alt/m https://www.youtube.com/watch?v=Uo2tVWP9LtE

ebworthen's picture

Cue Cramer and "Bear Stearns is fine!"

Fucking worthless turds getting Main Street to eat their cow pies.

Go to HELL Seymour and the rest of the Gestapo Wall Street rabble peddling fiction. 

Third in line to hang until dead and beaten like Mussolini, right behind the Banksters and their apparatchiks in Washington D.C. if I had my way; rope rolled in glue and shattered glass.

JuliaS's picture

This is the exact same exchange Peter Schiff was getting in 2007. All big networks were inviting him in, just to ridicule his theories, back when every commercial break had assholes sitting in lawn chairs and sipping martinis, while bragging about flipping homes for a living.

The end is near.

remain calm's picture

Seemore, I think pencil dick is the term that describes jerks like him.

JRobby's picture

The whole concept of CNBC alludes me. It's useless. The people on it (except for Rick S.) suck turds out of the asses of people who did the trade 6 months ago that they are "talking up" today. It's completely asinine.

Neville Bartos's picture

Agreed. The commentator is a slimy 2 bit shill

JustAboutThatActionBoss's picture

Absolutely Fucking Hilarious. I love it. You dont see that everyday on hype TV.

Fleck for Prez!

johngaltfla's picture

Thank you Fleck for putting that little shit in his place. He's a pile of crap who changes positions as much as Bill Clinton at an intern convention.

FEDbuster's picture

Let Fleck and Peter Schiff tag team on these half wit FED suck asses.  When it comes crashing down again, these will be the clips they use for the "Fleckenstein was Right" videos on YouTube.

So It Goes's picture

+ 100

Fleck doesn't suffer fools.

Way to go.

Folkvar's picture

You know as bad as this collapse is going to be there is still going to be a lot of enjoyment watching these media types lose everything. 

abyssinian's picture

Tim Seemore butts is the biggest freaking clown on there. Most annoying shithead and always wrong. 

any_mouse's picture

Same tired cunts on that show.

Jeff Macke was a lone voice of sanity and reason on Fast Money, until he couldn't take anymore.

They never slammed Gartman. LaVorgna. The idiot chart guy.

"The FED is the arsonist" that is the truth, and until that truth is mainstream, we will keep hearing talk of "hawks" and "doves" and FED mandates.

Hawkish arsonists or Dovish arsonists. Which do you prefer torching your assets?

new game's picture

first one to the fire EVERY tyme. 

where there is smoke you shall find the fed...lol

ersatz007's picture

One can't slam LaVorgna - his forehead is just too big. 

jerry_theking_lawler's picture

Stopped watching that showin late 2010...still same jack legs on it....are the two najarian brother's on there still? Those guys looked like they snorted coke and shot up roids right before the show...

Hal n back's picture

Its called risk adjusted returns for a reason.
Who really wants to pay 25 x gaap earnings when these is no growth.

When this one bites in the ass its the entire ass.

Nexus789's picture

During the 87 crash in London had a few mates that worked in finance. Those that never experinced a down market took the phone off the hook. The old guys simply rode it down. 

Haus-Targaryen's picture

To be fair that douche-nozzle is right ... many of us (including myself) have been predicting the "end is nigh" for some time -- just for it not to happen.

That being said, we are still correct.  The Euro as a currency zone should have ceased to exist in August/September of 2012 and is only being kept around by market manipulation.  The us banking system should have collapsed in 2007 and the housing market should have inverted that same year.  None of that has happened.  

Why?  Certainly not because of fundamentals, but because of central bank intervention.  Central bank is a fixed sum game.  It only works for so long.  

The event many of us are waiting for is an economic "once-in-a-lifetime event."  Out of 100 years it might happen twice.

We are still correct in our analysis.  I now let these people sit back and let them talk.  I let them rub "salt in the wound."  I however tell them, literally, "when this does invert, and invest it will under no circumstances will I help you at all.  You were forewarned and chose to ignore it."

They normally laugh, say something about the new Porsche they are leasing, and and think they've won.  They fundamentally fail to understand how time works.  

Ghost of PartysOver's picture

Wait for the large Banks, the TBTF Banks, to start to turn on one another.  When that happens it will be time to run like the wind.  Until then the masturbated bul will continue to have a shit eating grin on its face.    For me I am waiting to see what bank goes after DB when the DB thing gets serious.

Berspankme's picture

A guy asked me today if DB was going to fail? I told DB already failed they just won't say it out loud

any_mouse's picture

A toxic megaton nuclear zombie.

Like the pile of sticks, no one wants to touch any piece of it.

When the music's over, it is the end.

"This is the end, my only friend, the end
Of our elaborate plans, the end
Of everything that stands, the end
No safety or surprise, the end"

Creative_Destruct's picture

A cluster-bomb of financial weapons of mass-destruction primed to detonate.

enoch_root's picture

Deutsche Bank could get out of its hole if it went long gold/silver in a big way and blew up that whole pyramid scheme the LMBA got going on over there.

Just saying, each of these really desperate mega-banks that is against the ropes but has been on the 'inside' did the same thing before they were merged or liquidated. Bear Stearns, Lehman Bros ... when they get desperate they go for the gold play Hail Mary that would save themselves but would blow the whole thing up then the Fed and the cartel steps in to shut them down in one way or another ...

... this time could be different with DB because of the whole Europe vs USA thing that is boiling up right now.

HopefulCynical's picture

The other CBs would cut its throat - or nailgun its entire board - if it tried that.

You know I'm right.

HopefulCynical's picture

Wait for the large Banks, the TBTF Banks, to start to turn on one another.  When that happens it will be time to run like the wind.

Yes, that's definitely a data point to watch.

Yes We Can. But Lets Not.'s picture

Well, if and when DB tanks won't we again hear the clamor about massive derivatives, vast and crazy complex counterparty risk, they're too big to fail cuz it'll bring the whole thing down it'll be the end of the world...  So then what, more gubmint printing'bailouts?  Or will they spring their NWO fantasy at that point?

El Vaquero's picture

Nothing will happen until some major institutions crash.  Either one of the TBTFs, or another institution that can ignite the shitpile of derivatives that the banks have exposure to.  While the money supply can be increased with a few keystrokes very rapidly, CBs have to be careful, else they will find that the actual goods are what are important, not the currency that they are exchanged for.  

t0mmyBerg's picture

Perhaps that is what makes it so annoying that he acts like such a smug asshole.  Seymour is really a piece of shit.  I will be happy when he is running down the street in Manhattan away from a zombie gang of fuck-all know nothings in the collapse and they eat his still beating heart and drink his blood right out of his veins

JRobby's picture

You need to build a script around that one scene. It would be epic! A couple of helicopters full of bankers trying to escape to Teterboro  brought down by 70 zombies thrown in. Axes, saws, all of it!

Yes We Can. But Lets Not.'s picture

Hey, Charlotte, NC is a banking hub, isn't it?

Berspankme's picture

Precisely. When asked how much money I've lost being mostly on the sidelines, my response is not nearly as much as you're going to lose being a little sheep

DavidC's picture

Haus-Targaryen,
With you and your comments 100%. Spot on.

Over the years since 2008 I've read various traders saying they cannot trade markets after being able to trade them for 20 or 30 years in some cases. This WILL blow and it WILL make 2008 look like a picnic. I've got a target of 3,500 on the Dow. When? Who knows. But I think it will get there.

DavidC

Uchtdorf's picture

A 3,500 Dow is a logical prediction, but we'll never get there. Around the time the market drops to 6-7,000, we'll go full Mad Max. 

JRobby's picture

QE4 will come as he predicts. Yes the end should have come years ago so we are still years away.

Cognitive Dissonance's picture

Don't mess with Mother Nature Father Fleckenstein

El Vaquero's picture

But QE4 will suck up what is remaining of the "high quality" collateral.  They'll have to do something else, or fuck up TBTF.

any_mouse's picture

That is the game plan they have been following.

Sucking up all assets with valueless digits.

The toxic, valueless shit they purchase, along with the value, is just tailings to be dumped in a toxic pond.