Bill Gross' Latest: Here Is How The "Debt Man Walking", aka Uncle Sam, Plans To Steal From You

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Tue, 08/02/2011 - 09:05 | 1516333 topcallingtroll
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Ok even the troll can capitulate, so watch out!

All but point number one say "buy gold"

However we may be in for a slowdown.  Somehow I have to admit I don't think it will effect gold too much.

Tue, 08/02/2011 - 09:40 | 1516462 trav7777
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I feel lucky that Bill Gross has my back and is lookin out for me

Wed, 08/03/2011 - 19:35 | 1522347 TruthInSunshine
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I dedicate the Foo Fighters 'Hero' to Bill Gross.

Don't the best of them bleed it out,
While the rest of them peter out?
Truth or consequence, say it aloud.
Use that evidence, race it around.
There goes my hero,
Watch him as he goes.
There goes my hero,
He's ordinary!


Foo Fighters - My Hero



Tue, 08/02/2011 - 09:08 | 1516343 papaswamp
papaswamp's picture

I know the treasury puts out a sheet with on and off the books debt...anyone have that link? I'm too tarded to find it.

Tue, 08/02/2011 - 09:08 | 1516344 VisualCSharp
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At least one grammatical error in the write-up: weather -> whether.

Tue, 08/02/2011 - 09:15 | 1516377 Stoploss
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Probably a Dell keypad.

Tue, 08/02/2011 - 10:06 | 1516541 El Viejo
El Viejo's picture

got dat right: there is a delay on my shift key that makes me miss capitalizing the first letter. drives me mad and if it were my keboard and not work's I would have tossed it long ago.

Tue, 08/02/2011 - 09:13 | 1516353 razorthin
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don't forget 5. Confiscate your retirement funds (all, 401K, IRA and defined benefit alike)

Tue, 08/02/2011 - 09:13 | 1516365 gbresnahan
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This is my biggest fear.  There is, I think, over $10 trillion sitting in 401ks, and there was at least one plan to create an annuity out of them (aka Social Security v2.0)

Tue, 08/02/2011 - 09:24 | 1516400 TaxSlave
TaxSlave's picture

Most of these funds are held in the prison of mutual funds with no way out.

Already, the hft schemes are whipsawing them out of their value, silently whittling them down to nothing.  So why grab the low hanging fruit out in the open when the 'banks' can make all their profits in 'the market' instead of doing what people think banks are supposed to do?

There are two rules for 401K's.

1) They make all the rules.

2) They can change the rules anytime they want.

Takes a lot of faith to put your future into such a long line of unaccountable mountebanks.  Have ANY of them earned your trust?  Ha!

Tue, 08/02/2011 - 09:37 | 1516452 Smiddywesson
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All they have to do is remove the tax shelter status for 401ks that are not invested in government debt.  Instant sugar buzz as sheeple crowd into treasuries.  Then we can run up the debt to GDP to 260% like Japan.

I also see class warfare being waged by the government.  They will use means testing for everything, making it desirable to spend and become even more dependant.


Tue, 08/02/2011 - 09:49 | 1516490 TaxSlave
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Means testing will drive a lot more savings into tangibles. (Gold and silver)

Tue, 08/02/2011 - 10:02 | 1516526 Dr. Richard Head
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I know that my desire to be "cash poor" is strong and one that I have followed now for the past three years.  I have exactly zero stocks or 401k/IRA "investments" and the balance in the bank is merely for checking when required.  On paper I look awfully poor and have zero records showing where my excess capital has gone.  This is precisely why I love my stash of silver and gold.  No paper trail means limited ability for Uncle Scam to tap into my wealth, which is exaclty why I believe you to be right TaxSlave.

Tue, 08/02/2011 - 13:13 | 1517265 DCFusor
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That's also my basic strategy though I do have some land and vehicles that of course are paid and have paperwork associated.  Keeping a ton of money (whatever sort) in a place that's easy for someone to steal or confiscate doesn't seem real wise.  If they should ever go for that -- your cash is a phone call away for them, your car pretty easy to take and sell, land not so much, and whatever you have under the bed or buried -- they don't know to try for.  I really doubt they'd try to confiscate my machine shop either, just not worth the effort for that sort to monetize that, especially these days when manufacturing is not exactly booming.  Yet I get good service out of all those things in good times as well as bad.

Tue, 08/02/2011 - 11:11 | 1516749 grey7beard
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>> I also see class warfare

The war is over and we lost.

Tue, 08/02/2011 - 12:57 | 1517209 sun tzu
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I doubt it. Most people will simply stop putting money into the 401k. 

Tue, 08/02/2011 - 09:51 | 1516498 jumblies
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and don't forget 6. Donations


Tue, 08/02/2011 - 09:12 | 1516359 Debt Rolling
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Balance the budget: if your brain can seriously imagine the necessary 50% cuts in government salaries and pensions happening, then you should lower your chems intake.

Grow your way out: the dream of every crony government. But it's a dream for one reason.

So there's only one way left: transfer money from the sheeple to yourself. And that's called inflation. 

Tue, 08/02/2011 - 09:49 | 1516495 hedgeless_horseman
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Cuba approves economic reform plan


Changes will lead to elimination of more than a million government jobs and reduction of state's role in key sectors.

Those crazy Socialists! 

Tue, 08/02/2011 - 10:09 | 1516550 El Viejo
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Like it has been said, The public sector is there to support[not dominate] the private sector. When do you think we will finally learn that here?

Tue, 08/02/2011 - 13:03 | 1517230 sun tzu
sun tzu's picture

Cutting government salaries won't help much. Total federal pay, including all benefits is around $400B per year. Cutting them by 50% would only save $200B per year. Plus you have alot of people making $30K per year. Will you cut their pay to $15K per year? The better option is to fire 500,000 paper pushers who do nothing. Trim the rolls down the same way private companies do it. Buyouts for the old-timers who have been there for decades. Then attrition. Then finally start the layoffs until you cut by 500,000 within 5 years. Do the same with the military. End the wars and foreign aid. Cut useless and redundant government departments entirely. The government is not a jobs program.

Tue, 08/02/2011 - 13:14 | 1517280 DCFusor
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The government isn't supposed to be a jobs program.  Fixed that for you.  Nevertheless it is.  And as you point out, one where creating real value for the economy isn't job #1.

Tue, 08/02/2011 - 13:34 | 1517397 Ricky Bobby
Ricky Bobby's picture

That's misinformation. Where did you get that stat from? Huffington Post

Tue, 08/02/2011 - 09:15 | 1516364 Cdad
Cdad's picture

BlowHorn [CNBC] loud mouth extraordinaire Jim Cramer is right now complaining about spending cuts [where?] in Washington DC.  Another millionaire looking for the trough to be expanded.  Another so called capitalist who thinks that economic activity and job creation comes from the Federal government.  

What's the over under on when COMCAST finally projectile vomits the idea of putting this guy on in the morning? 

Nothing in the Congressional compromise reached over the weekend makes a significant dent in our $1.5 trillion deficit.

Tue, 08/02/2011 - 09:28 | 1516415 dogbreath
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I don't own a TV, but just who is Cramers audience

Tue, 08/02/2011 - 09:43 | 1516470 Cdad
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His human audience, as measured by his ratings, are very few.  His real audience are the sound bite trolling quant funds that fire off escalating and absurd buy orders on anything he specifically mentions on be followed by sharp reversals and short selling.

Tue, 08/02/2011 - 14:12 | 1517578 Cathartes Aura
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who needs a TV when you can read about who says what HERE, EVERYDAY - to answer your question about "audience" - reckon most here are still drooling over the presenters "with one hand" while typing about them with the other. . .

"Kings of the Wild Frontier"??? Adam Ant???

I feel beneath the white
there is a redskin suffering
from centuries of taming

"no method in our madness
just pride about our maner
Antpeople are the warriors
Antmusic is the banner!"

okay. sure.

Tue, 08/02/2011 - 09:31 | 1516431 FEDbuster
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CNBS has become un-watchable at this point.  Only one voice of reason, Rick Santelli, remains.  I have threatend to cancel my cable TV, if they don't provide an alternative business news channel (hopefully Fox).

Hasten the Collapse, OBAMA 2012

Tue, 08/02/2011 - 13:05 | 1517237 sun tzu
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Fox Business isn't much better. They are also cheerleaders and push for the status quo. Fuck them. Bloomberg is pretty good.

Tue, 08/02/2011 - 13:24 | 1517339 DCFusor
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And Bloomie is available online for free live if you have a decent computer.  While I find them amusing, and sometimes on top of the news that matters, I don't think anything major media out there is much other than a waste of your time.  In fact, I recall a study that showed people make less the more they watch that tripe.

Tue, 08/02/2011 - 17:28 | 1518481 FEDbuster
FEDbuster's picture

Maybe RT (Russian Television) will start a business channel, seems Putin likes to tell the truth about US economy and the dollar?

Hasten the Collapse, OBAMA 2012

Wed, 08/03/2011 - 19:26 | 1522318 rustymason
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It's no wonder that the media keep pumping out that foul sludge -- people keep paying for it. 

Tue, 08/02/2011 - 09:13 | 1516366 Savvy
Savvy's picture

Nothing less than a PR stunt to make Rove jealous. Maybe they could start a tv reality show called 'Be a congressman for a day' and each prize is one minute of prime time news...

Tue, 08/02/2011 - 09:15 | 1516370 Dr. Gonzo
Dr. Gonzo's picture

double post. sorry.

Tue, 08/02/2011 - 09:14 | 1516371 Dr. Gonzo
Dr. Gonzo's picture

Investing your money today is not about opportunity or growth anymore. It's about not losing it through inflation, taxes, confiscation or defaults. Everybody is focused on not being cheated, or not winding up the sucker in the room. Good luck with that everyone. This is the American financial system. One gigantic con game and fraud. Oh look Gold at $1640. Wonder why?

Tue, 08/02/2011 - 09:22 | 1516393 Debt Rolling
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I don't know why you've been junked. 

There is indeed zero absolute returns today, in the face of lacking technological innovation. Wealth is not created. The level of life of people does not increase significantly. Wealth is transferred. 

Buying gold preserves your capital, and makes you richer relatively (which is fine), but not absolutely. 

Tue, 08/02/2011 - 09:28 | 1516414 TaxSlave
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The armed brigands are roving through the countryside, pillaging as they go, and it's open season on the ignorant.

The savings rate is going up in the only place where it matters--in metal that cannot be confiscated or stolen from without them physically getting their grubby little pincers on it.

Dreamtime is coming to an end.

The biggest lie in all of mankind's history (well maybe the 2nd biggest one) is falling apart.

Tue, 08/02/2011 - 13:07 | 1517246 sun tzu
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When TSHTF you know that TPTB will make gold and silver illegal to own.

Tue, 08/02/2011 - 20:23 | 1519070 StychoKiller
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Yo Dude(tte), stop bogartin' and pass it around!  'Nuff said.

Tue, 08/02/2011 - 09:14 | 1516374 Oh regional Indian
Oh regional Indian's picture

C'mon big Bill. Feeling so badly about all this?
Use your billions to change something. Do some shit. All this talk and everyone is happy. Ron Paul, good talker. Bill Gross, good talker. George Sorrows, best talker of them all.
Anyone followed the Sorrows story today?
He's returned all client monies.
That is news.

It's days now folks. Days/week or so........


Tue, 08/02/2011 - 10:11 | 1516551 falak pema
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reaping the wind of sorrows... as you borrow more n more...comes a time of reckoning when rocking the boat...rolls over into moronic law. Now balancing the budget is like belling the cat, or cutting the fat on a sacred cow,who is all skin n bones.

Nowhere to run nowhere to hide, as the crazy money takes a roller coaster ride. 

Precious metals are like the ancient gods; we believe in them but we can never reach them once we've bought into their cause. They are untouchable, and only good for pouja.

The world needs Hulwa! not hawa!

Tue, 08/02/2011 - 09:17 | 1516378 TaxSlave
TaxSlave's picture

The purpose of the debt is not the spending.

The purpose of the debt is that it owns you.

Perpetual debt servitude, living under the whip of your masters, is your future.

Grow a set, repudiate it.  Declare that it's not your debt, that you will not be enslaved to pay it, and you might be able to control your own life.  Otherwise, your only choice will be to get in line, hold still, and shut the hell up for your own good like the rest of the obedient drones.

Tue, 08/02/2011 - 09:16 | 1516379 Archimedes
Archimedes's picture

hey, he stole my CAD idea! That is the ONLY fiat currency I would buy right now.



Tue, 08/02/2011 - 09:37 | 1516448 DaBernank
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I humbly vote for NOK as Fiat I might buy, but why not just buy more gold and silver instead?

Tue, 08/02/2011 - 09:16 | 1516382 johngaltier
johngaltier's picture

Here's an idea.

Good bank/bad bank

Canada is now responsible for Medicaid obligations. They pledge as collateral all unclaimed mineral and resource deposits, government land, etc.

If they don't like it, we get a chance to battle test the JSF F-35

Tue, 08/02/2011 - 09:17 | 1516385 tickertapeguide
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All your 401Ks are belong to us... GAME OVER

Tue, 08/02/2011 - 09:51 | 1516503 Smiddywesson
Smiddywesson's picture

All your 401Ks are belong to us... GAME OVER

No, that is not their way.  The methodology is, and always has been, to keep you ignorant, lull you to sleep, and slowly strangle you.  They will never evoke a confrontation with the American public by just taking their 401k money, not after spending the last 50 years telling them that these programs are the yellow brink road to wealth.

Confrontation is not their way.  They will slowly tap these funds through taxation and inflation.  They are in control, so they do not want confrontations or an examination of their methods through which they always win.

Tue, 08/02/2011 - 10:15 | 1516579 Silver Dreamer
Silver Dreamer's picture

Problem, reaction, solution.  Imagine a massive crash.  401K's get crushed.  The government comes in and "saves the day."  We need the government to protect our 401K's afterwards after all, riiiight?

Tue, 08/02/2011 - 09:19 | 1516388 HoofHearted
HoofHearted's picture

On my desk right now is a book by Jacques Rueff, _Le Peche Monetaire de l'Occident_. As we seem to say often around ZH, NOBODY could have seen this coming for the US. Nobody. I won't mention James Dines's _The Invisible Crash_ because it is back on the bookshelf and not on my desk.

We need to study the classics. Nothing is new under the sun. What is has been before. John Law, party of one....and we all know what John Law had in that carriage as he was trying to escape...

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