Biderman: "The Most Damage Is Caused By Those Who Are Not As Smart As They Think They Are"

Tyler Durden's picture

It is not often we double-dip in the Sausalitan's soliloquies but tonight's glorious truthiness from Charles Biderman, CEO of TrimTabs, is worth the price of admission. After explaining that the only way he could be any more bearish is to be double-levered - and that he believes that besides "believing in miracles" this market will see the March 2009 lows once the market-rigging is fully exposed, he makes probably the most clarifying statement we have heard regarding our central-planners-in-chief. With regards to Messrs. Bernanke, Geithner, and Obama: "The most damage is caused by those who are not as smart as they think they are." They continue to believe they are smart enough to fix all our financial problems (and Europe's - if they would just listen to Timmay) by building a bridge over the recession - thanks to asset-buying and ZIRP. "The only problem is we are running out of bridge and are nowhere near recovery" is how he sees it and reflecting on the massive gains that have been made on short-dated Treasuries as the Fed (who is the one buying them) extends the ZIRP horizon - it is clear that this is nothing but a huge Ponzi scheme.


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q99x2's picture

I consider them smarter than Bush Junior. I also consider my turtle smarter than Bush Junior.

AldousHuxley's picture

kings used to live large based on "divine right" with support from high priests over people


money changers are living large based on "god's work" with support from Fed's economists and politicians over people.


Let's see banksters increase GDP with population and money supply constant......truth is that their bonuses are based on ponzi scheme growing with more people born and Fed making everything looking like things are growing.

john39's picture

the scam is as old as recorded history.  no freedom until the parasites are removed.

cranky-old-geezer's picture



These people aren't stupid.  They're looting Amercia dry in a well planned systematic way.

The only stupid people are those who don't realize it's a looting spree. 

Peter Pan's picture

They are not as smart as they think they are but the people are stupider than they think otherwise the people's inaction cannot be explained in view of such brazen theft, misinformation and enrichment at the expense of everyone else.

All Risk No Reward's picture

Actually, it is Biderman that isn't that smart.

The people running the show are Machiavellian geniuses.  After all, they are ripping Muppet faces with a fraudulent debt based monetary system and almost nobody even knows.  They criminally broke the law to blow the world's largest credit bubble - after leveraging to the hilt, no doubt.  They can steal your segregated account and nothing happens.

They launder $100s of billions in drug money and nobody goes to jail when caught and the money isn't even returned.

They offloaded their worst debts onto the public and took cold cash in return.

They keep the winnings, we get their losses.

They run government, we get Muppet ripped.

The folks that aren't as smart as they think they are include those who believe the bankster media narrative instead of independently searching out and analyzing the data that will lead them to the truth.

The oligarch plan to bankrupt the nations and install their fascist system is proceeding quite nicely, thank you very much.

I don't like it, but with so many people falling for the false narrative, we don't have a chance.

Wake up - and we have a chance.

Dr Benway's picture

Dude it is misguided to believe that cartel criminals are Machiavellian geniuses. Look at your average mob boss, he is only powerful because of the system he exists in, because of the underlings and so forth.


Or maybe it is a kind of genius to make yourself such a position of power from which to expropriate funds from the plebs

economics9698's picture

I want to write a blog about how stupid 130 IQ Jews really are, but that would be racist.  

jeff montanye's picture

your pointed critique of the powers that be is leaking out all over the world.  book after book (, website after website (see the zh reads, jesse's list, etc.) even film after film (margin call, inside job, too big to fail).  

as the economy slows, "the people" will search more thoroughly for answers and these will be the ideas lying about.  the truth will out, slowly, inefficiently but irrevocably.

Widowmaker's picture

You're dancing around the point - privilege.

The privileged class owns you because they, and you, worship money.  They can't lose when everyone worships and is addicted to their honey.

You don't think "Gods work" is faggot-slang for fucking you over?

The truth is this privilege is running out.  Albeit slowly, the current system is losing its luster, current money is dying.  It's dying because perverted fraud has taken over and the number of players is declining rapidly (I cannot attribute this, but it's accelerating, too).   

When savers and rish averse are getting robbed, and the rule of law is monetized, all bets are off.  

The old saying is as true as ever, "there's more to life than money," which the regular money-worshipper will be forced to reckon with as he is broke (through ZIRP) and homeless (through MERS).

Starting to see the picture?   Get your "money" out of their privileged system now.

The Monkey's picture

The Fed is so up to it's eyeballs in shit that they have no means to stop themselves now. The Fed is essentially in the same spot Bernie Madoff found himself in, perpetuating a myth. Who knows how long these nuts will be allowed to reign destruction.

AldousHuxley's picture



game over.


chinese left the theater, Fed just playing encore to American audience now when nobody asked for on.

Doña K's picture

I think that this has been settled noumerous times and we are just beating a dead horse on the head for the benefit of newcomers.

We are at a point of no return and no human can save us without a tilt. The system needs re-wiring, the banksters need to be expunged, the politicians must be sworn to tell the truth or face prison and.... add your own musts...

The economy is levitating supported by only 100 threads. I say each day one thread breaks. Hence, by November you will get a surprize. Chavez died and was reincarnated. He now lives on Penn Ave. Keep rubbing your eyes..Still there 

Bollixed's picture

"Santelli VS. Biderman (2006) LMAO!:"

Peter Schiff did even better than Santelli in that clip...:)

BTW...can someone explain how a $10K T @2.5% becomes $110K when interest rates drop to 0.25% as CB talked about in the video? How does that become 11 times par?

I'm cornfuzed...


The Big Ching-aso's picture



If anyone plans 2 truly get richer on interest in the next 10 years they have a balloon brain that will be deflated.

cranky-old-geezer's picture



Yes, bankers have painted themselves into a corner.  The only way they can keep their sovereign debt ponzi scheme going is 0% interest, and they don't make any money at 0% interest.

Doña K's picture

The same way if your $10k at 2.5% went to 25% 10 times higher. Your $10k will be worth the same as a guy who just bought $1k at 25% he will get $250 in intertest per year and you will also be geting $250. Therefore: You can only sell your bond for $1k now.

The reverse is also true

Rahm's picture

Glad someone picked it up :)

chump666's picture

he was referring to the bid price of the bond compared to the par rate.  Before the Fed went insane with UST buying, if you caught that trade when they were somewhat cheap with 10K, you would be laughing.  Like PIMCO, as long as the deflation paranoia/schizophrenia is locked into Bernanke, bonds will be bought.  It's more of a bubble then a Ponzi.

But, Asia will drive US rates up with their USD buying and selling short end, which will mess with the hordes that bought bonds under the 10yr.  I agree with Biderman that the market will be capped with or without QE3, there is a breaking point in the bond market and equities won't be safen haven flows

check this:

blueridgeviews's picture

Price and yield are inversely related.  When the yield of a treassury goes down the price goes up by the same amount.

Brynjo's picture

I think he was talking about Present Value of a perpetuity, like a consol.

Brynjo's picture

I think he was talking about Present Value of a perpetuity, like a consol.

Socialized Losses's picture

+1 Rahm. Biderman -1 not worth my time.

TWSceptic's picture

Santelli? That's Peter Schiff vs Biderman!! Why is Schiff never honoured on this website anyway?? It's always Biderman this Santelli that. I have more respect for Schiff than for any of these guys.

Rincewind's picture

WTF? Still living in bi-partisan land?

Muppet of the Universe's picture

Even if some begin to wake up...  There are levels that can be reached by some and not by others.  Blame it on genetics, environment, etc.  The cause right now, doesn't matter just yet.

All you need to know is that most people are profoundly stupid, and literally incapable of critical thinking.  Once you recognize this, you can begin to plan.


It is critical junctures like this, that I begin to look for patterns in macro central planning.  & I do NOT mean fed planning.  I mean global illuminati, cabal planning.

All I need to do, is realize that many many people knew that idiocracy was coming.  Many people knew 2007-2008 was coming.  Many knew the gold/silver rush was coming.

But very few knew 9/11 was coming.  Very few knew the NWO was coming.  Very few knew the great reset was coming.

You see the ability to travel down the rabbit hole is exponentially limited to fewer and fewer people.  & it is not limited to courage over fear, but brain power over idiocy.

At times like this, you need to begin studying what has happened historically, and what will happen based upon new global movers, such as the internet.

Break out your illuminati playing cards if need be.  The charts are not everything-the game is everything.  & we are at the endgame.

IE China and the U.S. are not mortal enemies.  FFS the PBOC has primary dealer bank status at the DOTT. 

Its like fractals... One must continue exploring outside his/her current box, endlessly, or risk everything.

There are limits to individual journeys in the rabbit hole, and very few make it as far as Alice.

Congradulations, you're out of the sea and you've figured out the Caucus Race is bullshit.

But you've only just begun; the truth is likely infinite.


Oh regional Indian's picture

Awesome links and spot on in general Brother Muppet.

Perhaps you might en-joy this:



john39's picture

the olympics will be the largest occult ritual event  in many years.   and rest assured the elite don't have the welfare of humanity in mind.

Doña K's picture

<<<exponentially limited to fewer and fewer people..............but brain power over idiocy>>>

Your statement above is proven by the fact that the sum of all IQ on earthlings is constant but the population is increasing.

Oracle of Kypseli's picture

Since you mentioned IQ, is it possible to move from one town to another and raise the average IQ in both towns?

Doña K's picture

Same possibility as having deja-vu and amnesia at the same time.

The Big Ching-aso's picture



I think an 1600 SAT score is BS.   I think we need a 16000 SAT score 2 reflect who has real brains.

ChacoFunFact's picture

"There are levels that can be reached by some and not by others."


"But first of all another thing must be understood, namely, that knowledge cannot belong to all, cannot even belong to many.  Such is the law.  You do not understand this because you do not understand that knowledge, like everything else in the world, is material.  It is material, an this means that it possesses all the characteristics of materiality.  One of the first charactersistics of materiality is that matter in a given place and under given conditions is limited.  Even the sands of the desert and the water of the sea are a definite and unchangeable quantity.  So that, if knowledge is material, then it means that there is a definite quantity of it in a given place at a given time.  It may be said that, in the course of a certain period of time, say a century, humanity has a definite amount of knowledge at its disposal.  But we know, even from an ordinary obersevation of life, that the matter of knowledge possesses entrely different qualitites according to whether it is taken in small or large quantities.  Taken in a large quantity in a given place, that is by one man, let us say, or by a small group of men, it produces very good results; taken in a small quantity (that is, by every one of a large number of people), it gives no results at all; or it may give even negative results, contrary to those expected."

-P.D. Ouspensky, In Search Of The Miraculous.

Oh regional Indian's picture

One of G's most difficult precepts to swallow. Great quote.


tip e. canoe's picture

but did G factor in the internet?

has not the pool of knowledge swelled to realms beyond anyone's imagination over the last say 20 years?

one may argue that this knowledge is not the knowledge that G speaks of in this quote, nonetheless, it would be hard for anyone on this forum to make the case that they have not benefitted from dipping into the pool and that without the pool touching their living rooms, they would have never gotten the opportunity to take a swim and would be a less developed human being without it.

this is not to say that a natural hierarchy does not exist in the material world, but rather to introduce the concept that the extra-dimensional space in which the pyramid resides does not have straight lines and is constantly fluxing and flowing, loosening areas of stagnation that may seem impenetrable to those who only choose to observe the material world.

and to suggest that we should never underestimate the power of the human brain to access the connection point between the two planes of existence...each and any human brain.


blunderdog's picture

G himself was brilliant, but you can't "teach" genius.  The realization that knowledge is material has some value, but without also pointing out that knowledge can be transmitted via information, his point seems a bit unclear.

Information is non-material--it is *independent* of the underlying media.  Knowledge is NOT independent of the underlying media, which is what it seems he was trying to say.

MeBizarro's picture

Illuminati . . . blah blah blah.  What a rant of jumbled horse$hit.  It always amazes me how people on here think a small limited cabal of people can control everything including the 'known unknowns.'   

MeBizarro's picture

Why time and time and time again when even the most detailed experts on large global trends barely beat out lay people who have a basic understanding of what is being prognosticated on.  

francis_sawyer's picture

You don't have to control EVERY sheep in the herd... Just the first one or two... (& that can be done by controlling the money supply)...

If you've made it that far, most of the rest pretty much falls into place... Sure, one or two fall out of line (& that's why you have a sheep dog or two, you don't need as many sheep dogs as you have sheep)...

LarryDavis's picture

That point is really illustrative. Fund managers print money if they can return 8% when inflation is easily 3%-5%. Soon any positive returns will get you 2 and 20. The world of finance is really analogous to traveling shows of the 1800s where people would sell sugar water that purportedly makes your dick 20x bigger. People selling shit they don't understand that furthermore behaves randomly (economists are split as to whether financial markets even exhibit non-random qualities). Would you invest in something that has a random and manipulated behavior? I sure as fuck wouldn't.  

tip e. canoe's picture

"In the province of the mind, what is believed to be true is true, or becomes true within certain limits to be learned by experience and experiment. These limits are further beliefs to be transcended. In the province of the mind. There are no limits."  -- john lilly

mayhem_korner's picture

I also consider my turtle smarter than Bush Junior.


Do you spend a lot of time considering how smart your turtle is...?  Does he whip you at chess or sumpin'?

knukles's picture

Guess that makes me harmeless as per Mrs. Knukles

TWSceptic's picture

Your turtle would do a better job governing the country than Obama.

greased up deaf guy's picture

useful idiots. all of them.


It's not that they really think they are that smart, it's more like the laws don't apply to them so they can get away with utterly stupid shit.