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Biderman On Europe And The Rally: "It's All Bullshit"
The sensible Sausalitan is back and this time he is taking on the "baffle 'em with bullshit" conclusion of last week's "non-game-changer" EU Summit. After some self-congratulatory chatter on his timely call for markets to ebb from April, Charles Biderman (CEO of TrimTabs) chokes back the spittal as he reflects on what came out of the mouths of European leaders last week: "I cannot see anything new from last week's summit" as he summarizes the findings clearly "The ECB possibly will print more money and save some Spanish and Italian banks". We can't help but agree with Charles when he adds: "Where have I heard that before? Printing Money To Save Banks - wow, how original?". Biderman still believes the Fed will engage in more money-printing but the stock market's current rally is temporary and will falter once again until Bernanke pre-announces his next print-fest. "Money-printing is the only solution left for Central Banks and in reality without fundamental changes in the way Europe and the US is run, the best money-printing can do is keep the dieing alive a bit longer"
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Tell us something we already don't know.
Biderman went long the FB IPO.
If you watched the video he says he is up 5% on his facebook trades.
He is up on FB! But deflation is coming! King dollar! Loud noises!!
Am I the only one selling this fake rally?
You are one of a few humans trading. It's just you and skynet now.
I guess I'm betting that it will become self aware and go Cylon.
An expansionary monetary policy usually does not work by itself. Governments need to do their part (to reduce the deficit, reduce (or eliminate) the regulations and promote growth). If you think that injecting liquidity into the market are solved huge problems that exist, then we should prepare for the worst.
Prepare for the worst AFTER investors have fully purchased any news out of the EU. Even though nothing has changed with respect to Europe's deepening recession, do not underestimate how much further north prices can move before the market turns down again.
Start dollar cost averaging @ 1400, and expect it to ultimately retrace all the way to 1415 -1420. Save dry powder for the unexpected upward stab.
Biderman is right, monetary stimulus doesn't do a lot. But, it can temporarily move prices big time. Be very patient.
May we have a constitution left when we visit this site again a year from now.
Happy July 4th all you bloggin' mother fuckers!!!
We still have a constitution, but it now says Congress can fine an individual for not doing something they want you to force you to do, and call that fine a tax by virtue of the IRS (the guilty-till-proven innocent branch of the formerly federal government) collecting the fine. The fine can be big, apparently, and still be a tax and not a punishment. It can ass-rape the spirit of the commerce clause and the federal structure set up by the founders, and do so in the public square, with full support of law enforcement, the courts, and the looter class.
why would he dabble in fuckbook?
Biderman stole my line!!!!
Why the f is the EUR rallying today?
there's a rumor that there might be a rumor coming out later today ....
Positioning ahead of the ECB.
Lagarde was on CNBC with Maria "G6" Bartiromo saying that all is fine with Euro and European Banks and that deposits are safe.
*cough*
:Kevin Bacon voice:
"Remain calm! All is well!"
http://www.youtube.com/watch?v=zDAmPIq29ro
fuck Birdman he's proably losing some money on something.
It is all bullshit of course but anything is better than USD or EUR so real assets (including stocks) are inevitably going to go higher
The last time biderman ranted like this back in December the market rallied for four months!!!
How's your FB call biderman?
It's all bullshit! Buy facebook! Deflation is coming! King Dollar!
Your (so called) King is on the verge of being dethroned and it will be in my lifetime!
Please allow me to introduce myself....
Buy silver
EDIT: Nice to make your aquaintance: If I may add, load up the truck while your at it!
"How big is your truck?"
http://www.zazzle.com/silver_baby_mug-168247586838624668
Dont be a mug, BUY SILVER!
Buy a couple years worth of food first. Food is always in short supply during economic collapses (read your history). Silver and gold are nice, but what you need first is rice.
buy booze next... (or learn how to grow potatoes & build a fire)...
Learn how to grow potatoes and make your own booze? Don't forget a good supply of "special seeds" for appetite enhancement (long term storage food can get boring to eat).
That 5hr energy stuff will carry us all through.
Plus 1 Mr Lennon .
It's bullshit alright, but what do u expect with CENTRAL PLANNING from Comrades Bernanke & Co?
A big thanks as always to a voice of truth. Only wish I had heard of Mr. Biderman and his excellent video outlook years ago but of course financial media such as CNBC, Yahoo Finance and MarketWatch routinely ignore his advice. Happy 4th to all despite all the horrible acts of torture, deceit, broken promises that the US gov continues to engage in.
He likes the 5 horse in the 5th race. lulz
Everyone talks about central banks printing money, but in actual fact they are printing debt.
There is something awfully sick in a system when banks cannot save themselves despite having at their disposal the use of fractional reserve banking, questionable valuations and low interest money from government.
+1
Im not sure I follow. The CBs do print money. That is their killer app. For whatever reason, they choose to buy debt of their friends because their friends have nothing else to sell. But be clear, they print money.
BTW, the FED is tightening. If you dont believe me, just look at the adjusted monetary base published by the FED. In the end they will print, but the current tightening does not bode well for equities.
The money they print enters the system as debt and debt requires interest payments which in effect add to the debt. Hence in reality they are printing debt and not just debt but debt that continues to grow until it consumes all productive efforts and output.
The monetary base is in fact growing but the debt is growing at a faster pace due to interest. Furthermore many of the "assets" bought with this monetary base turn to crap either because they are holidays, granite bench tops or bad investments. The debt however remains.
This is the crossroads we find ourselves at. This debt must largely be written off in order to recognise that there is no longer a corresponding asset or at least an ability to service the debt without stifling economic activity.
They purchase debt only because that is what their pals are selling. However, (as Helicopter Ben stated do well), there is nothing preventing them from opening the window and tossing out money to the people on the streets.
With interest on mony at 1.6 for the 10 year, it doesnt take much ROI to make payments.
The reality is, these banks should not exist today. Like any bad company, they should have been declared bankrupt. Unfortunately some idiot in the white house thought otherwise.
"Its all bullshit"....translation =someone who has lost alot of money being wrong on short side...
Maybe so, but it doesn't make it any less bullshit. Congrats to all 'savvy' longs playing along side the kleptocrat money destroyers. You're part of a long history of just going with the flow in tyrannical regimes.
All one needs to do to confirm "it's all bullshit" is to watch just how desperate and sloppy buyers are today...especially in individual energy equities. Just pathetic...the worst of the worst panic buying.
Indeed, it is all bullshit. And based on volume during this latest miracle rally...everyone seems to understand that it is "bullshit" except all the boy wonders on Wall Street...who still think they are simply trading towards a new bonus pool in a bull market, talking about how "historically cheap" stocks are, and pimping their "channel checks" and their "forward projections." This...this as we have now confirmed via Bod Diamond that the entire banking system, including the central banks, are a complete fraud. Good grief.
More banker pink slips, please.
More banker fitted nooses please.
The big goal seems to be apathy. Enough continuous information/disinformation, turmoil and emotion... pretty soon everyone is numb and reactions to real events are muted or confused.
Well, here's the thing. The suckers are still at the table betting away, it's just the sharks with staying power (and intelligence) that are backing out.
So the only players left in the game are the Big Whales (Pensions, Buffett types) and the Big Sharks (Banks, Goldman types); but in order for any game to survive, you need new blood. But that's hard as a) the market is obviously rigged to the intelligent person and b) even ifthe intelligent person wanted to get into the market, the majority of us don't have any capital, or don't have access to unlimited credit to capital (unlike the Big Banks who can just Call-n-CRTL-P to the Fed for easy cash).
What happens when the suckers FINALLY go bust (Baby Boomers and pensions, mostly)? The game dies.
I'd love to see all the Biderman haters on this thread record a youtube video 4-5 times a week with their market views -- probably end up worse than Cramer. Bitches
Bullshit. Many on here touted both gold and treasury bonds daily for years when everyone else was calling for a bond crash even bill gross. Some of the folks on here (not robo et al lulz) have consistently made more accurate calls than all the msm pundits put together. suck it bitchez. suck it long, suck it hard.
Yeah I know and I love all you guys. Its one thing to post comments on a ZH thread, its another to record videos that are easily re-watched. Does anyone go back and check ZH comments for their accuracy? I doubt it.
Fuck no. We're ZH'ers and fallibility don't apply to us.
Has anybody ever flamed, criticized, gnarled or gnashed anybody here?
Too bad we're so pathetically compliant and gullible.
OK if I post apocalypse that check?
zh makes 10X better calls than Biderman 3X times as often.
Look at the gold, it's treading upwards (hope I don't jinx it)... but I digress...
When is this guy going to have an unfortunate and life ending accident?
Obviously the point was missed. I thought it was pretty blatant but whatever.
Quite a few lefties made it here from yahoo and such, label the sarc for them to get it..
The printing will not keep them alive a while longer, it will keep them alive for years while we are sucked dry. Keep calling for deflationary / hyperinflationary collapse while the banks move all their chess pieces into place.. By the time the torches and pitchforks come out it will be all over for us. We will be serfs and the ubiquitous "they" will own everything politicians, assets, military, police everything we are screwed oh yes. But it will just take a bit longer for the slow grind to become apparent.
We are the mountain and the TBTF are the glacier if that helps. We may knock a chunk off here or there but they use our own rock against us by pitting us against one another with fables and lies and outright criminality grinding us between interest groups, the press and other forces.
Americans believe anything u have to point out Sarcasm to most of them. We are well trained in stupidity.
"Baffle them wiith Bullshit"
Yup.
It's all bullshit.
Wages and salaries are not growing.
Institutions hold 80% of all stocks.
The markets are rigged.
Robots rule.
CORZINED.
The entire gloabl economy pins hopes on stiulas. Nice.. So the "leaders with The Secret" hope someone prints? That is their best (marxist)propraganda?
I hope to get $6 million dollar raise this week.
I think there is a combined IQ of 4 of the people coming out with such nonsense.
The past three days of trading have been 100% bullshit. Usually its only 98% bullshit.
Oil is up over 4% on nothing really substantial other than rumors. Everything is just rumors of rumors that somehow more debt will fix debt. That is all the zero volume market needs to rally.
Only a 75% tax on HFT will save the market. Or the wholesale deletion of all algos. The news of the past few days have proven the market is rigged and that HFT is 100% responsible for the market levitation based on free money from central banks.
The only reason why regulators won't shut this whole thing down is that they are on the take like a Chicago politician.
I wouldn't care except for the fact that this stupid con game effects everyone whether they own stock or not. Within a week we'll be back to $4 a gallon gas, with the largest stockpiles in history sitting in storage.
Watch out for vietnam they have 13 ft sampans and motorcycles. They will invade California if we don't stop them now. Remember the domino theory. They will cross the pacific and we will be so fucked!
They are a real threat to American security!
I think that Facebook reference was directed to Sheepdog.
From an everage-Joe's perspective, I find it mindblowing that banks, which through fractional reserve banking where they can create money out of thin air (not to mention bailouts), can't manage to survive financially. How F'd is it that the institutions that create money have no money? How corrupt must they have become to NOT enjoy such a gravy train position of influence?
That is what happens when deflation of asset prices rears it's ugly head.. Every dollar of debt that is destroyed takes one dollar of out of the system. And that's a dollar they can't lever up 10 to 40 times. They are desperate to keep asset prices inflated. That's one of the many the problems with a perpetual growth model.
They have to sell debt into the system in order to actually profit. That mechanism broke. No different than a ponzi scheme running out of suckers to form the next layer.
Money printing so far is just being thrown into a giant hole created by the bursting housing bubble, shrinking shadow banking sector, etc.
Totally agree. Its such a joke now they don’t even hide it. Just shut it all down. Nothing but price propaganda. But…. Yea a tax on Algos would help but heres the problem I see a lot here. I keep reading what we “should” do in this country a lot. No offense. Ive quit that mode a while ago. That’s for June Cleaver and her meatloaf days. What “should” happen wont. Never will in my lifetime. Not when you have criminals running this thing.
The simple logic behind which all markets move is that till there are shorts in the system, the markets will rise forcing them to cover and till there are longs in the system, the markets will keep on falling forcing them to liquidate. This is how we determine prices for everything in todays world be it food, oil, shares, currencies etc.
The top rich 1% and the too big to fail financial institutions who have the power to move markets are the key operators of all the casinos. They also have the politicians and regulating bodies on their roles so there is no stopping them till the whole system blows apart.
http://www.marketoracle.co.uk/Article35345.html
Thanks.
HA! He basically admits he reads the comments. Hi Charles :)
The corporate buyback positioning in June is very much true. My company, after it's shareholder elections, has been buying back their own stock like a motherfucker to raise their price by about $1-$1.50. I'm sure many corporations are doing the same; especially if their advisors (aka Big Banks) tell their CFO's they expect QE3 to come by August/September to thwart off huge DOW losses that will be sure to come unless the Fed intervenes.
What's it a sign of? A sinking ship. And the band is warming up.
And the crack up boom continues....
Everyone complains about the money printing presses, but no one ever does anything about it
"... but no one ever does anything about it."
What the heck do you propose be done?
Nobody has ever called me and asked "what do you think we should do about this John" - We are just along for the ride unless you are one of the banker elites- Voting is the biggest joke every played on the American People
Let's write our Congressmen. If they receive enough letters, they will surely stop the printing.
Now that was funny.
yeah, it was.
But I think I've seen *many* posters here sum up this fiasco thus: "Fiat bitchez!"
I mean, that's the point, right? Vote? Write letters? This is exactly what fiat on steroids looks like, and really: what can one do?
yep, its BS of course, but a lot has changed - looks like about they got part 1 out of about 4 so far - perfectly justified and they even made it look like they were the good guys - impressive.
ECB "fear indicator" again over 800 billion
www.cds-info.com
write a congressman? your kidding right? id waste better time watchin bugs bunny all day. The only thing that matters to a politician is bribe.,oops im sorry did i say that, i meant political contribution. Really you have to living in cave to think average joe means squat to these boobs.
Rally Warning Confirmed...
As mentioned earlier, further equity strength and USDX weakness expected this year according to my analysis.
http://www.zerohedge.com/news/2012-12-24/market-analysis
sweet...the sage of sausalito strikes again.
regarding the banking system and its death throes; i'll here quote Jesus Christ:
"let the dead bury their own dead."
couldn't have said it bettah myself, Oh Holy One.
janus
Is this guy Kramer's retarded cousin?
off-topic moment...
Tax his land,
Tax his bed,
Tax the table
At which he's fed .
Tax his work,
Tax his pay,
He works for peanuts
Anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat .
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think
Tax his car,
Tax his gas,
Find other ways
To tax his ass .
Tax all he has
Then let him know
That you won't be done
Till he has no dough
When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid .
When he's gone,
Do not relax,
It's time to apply
The inheritance tax .
I know I'll repeat this until blue in the face, but if anyone here really had the balls - they'd get into bitcoin and stay there.
I've got a call for you - bitcoin will outlast the dollar and the euro, while handily beating the living shit out of both if you're tempted to 'cash out'. (I'm not, I am happily using it for services and goods without printed paper involved.)
Again, this is the 'internet' of conventional money routing around damage (banking bullshit), and everyone is still wondering what to do about the banks.
Any takers?
i have a ton of electronic mexican pesos
can i use them to buy in?
any takers?
That's why I love the internet - always a smartass around every corner.
Tell you what, I'd take a legit bet if you're willing to make one. Think about it, but don't take too long, eh?
you gotta love that shirt with alcatraz in the fog back there
he looks great here; very colorful for the fourth; if you see a camo spinnaker, that's probably biderman out sailing the bay
next week: biderman launches F-bombs over sausalito
damn he has some ugly teeth, seems he can't even afford a dentist...