Buffett Says European Bank(s) Have Asked Him For Money

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 09/30/2011 - 14:11 | 1726700 TruthInSunshine
TruthInSunshine's picture

Buffet was taking a bubble bath, watching Beck Quick while defecating whimsically, per his 3 p.m. daily routine, and as he was mulling over the idea of buying billions worth of C while writing another fat check to the 'Obama 2012' re-election fund, the rubber duckey phone rang, and it was SocGen calling him.

Fri, 09/30/2011 - 14:21 | 1726762 High Plains Drifter
High Plains Drifter's picture

berkshire doesn't have any money. they are too busy buying back their own stock. this old bullshit artist ought to fade into the darkness and go fishing. but he can't . no not really. this is all he knows. this is his heaven. soon enough will begin his hell..............

Fri, 09/30/2011 - 14:29 | 1726801 nope-1004
nope-1004's picture

 

People who make money with money pay very low taxes.

True, but people who make money with money also produce NOTHING.  They are using system infrastructure and contribute NOTHING back.  They are a total liability.  What does Buffet make?  What is his contribution?  Anyone can tithe to a poor country out of their excesses.  I'm not judging him, I think it's great that he sends money to poor nations.

But the country is falling apart at the seams, not because the ultra rich don't pay enough taxes, because the only growing industry is "financial innovation", a transcation middleman, broker - total ponzinomics.  We need people to be productive and to work.  We don't need another broker telling everyone how little his taxes are.

Fri, 09/30/2011 - 14:36 | 1726824 TruthInSunshine
TruthInSunshine's picture

Buffet is the worst kind of fraud. He projects the image of the wise grandfather and good steward of sound financial advise, when his entire fortune was made off of his incestuous dealings with government, which supported or saved - ala 2008, so many train wrecks of companies he had large ownership stakes in that absent such governmental intervention he'd be the bankrupt fool his DNA predetermined him to be.

I'd actually dislike Buffet a tiny bit less if he was more direct and honest, like his co-kleptocrat, Charlie Munger.

Fri, 09/30/2011 - 14:42 | 1726847 nope-1004
nope-1004's picture

I also find it incredibly interesting to listen to Buffet explain his views on gold.  "It's in the ground, we dig it up, purchase it and it just sits there, producing nothing."

Beautiful epitaph for him, whether or not he knows it.  Couldn't of said it better myself.

The ponzi system convinced people like this that money can be made on money without productivity entering the equation.

Fri, 09/30/2011 - 14:43 | 1726873 TruthInSunshine
TruthInSunshine's picture

Buffet said that Nebraska Furniture, Dairy Queen and BAC are all inherently more valuable than the extremely stable (in purchasing power for thousands of years) barbaric relic.

Fri, 09/30/2011 - 14:50 | 1726918 bigdumbnugly
bigdumbnugly's picture

damn straight.  if i was a bank and saw the old geezer drop a wad like that on BAC i'd be calling on him too.

i wonder if becky quick is earning a few extra bucks on the side from these guys while she's out on maternity leave since she's the one with warren's private yellow rubber ducky number.

i'll have to go back and check his quotes.   did he say "becky called and asked if soc gen..."?

Fri, 09/30/2011 - 14:45 | 1726890 lolmao500
lolmao500's picture

He's wrong about gold. Gold is used in a lot of technology. Computers for example. Gold is way more useful that Buffet. Buffet is just breathing air and filling the sewers with his BS.

Fri, 09/30/2011 - 16:15 | 1727284 theotheri
theotheri's picture

For industrial use gold is probably worth a few hundred bucks.  Do you want to call that the floor price then?  I was going to give you $1000/oz for jewllery but heck, a few hundred makes more sense.

Fri, 09/30/2011 - 14:50 | 1726911 macholatte
macholatte's picture

 

The ponzi system convinced people like this that money can be made on money without productivity entering the equation.

How about making a ton of money for getting fired. That's very productive for the new unemployed.

Outsize Severance Continues for Executives, Even After Failed Tenures

http://www.nytimes.com/2011/09/30/business/outsize-severance-continues-for-executives-even-after-failed-tenures.html?hp

Fri, 09/30/2011 - 14:55 | 1726939 I am a Man I am...
I am a Man I am Forty's picture

making money on money is called capitalism

Fri, 09/30/2011 - 15:10 | 1727003 AldousHuxley
AldousHuxley's picture

Capitalism is when Koch brothers who inherited oil industries use money to cut public education funding so no ambitious smart kid doesn't come up with alternative energy that will replace oil. Because then that's a real competition unlike the fake one where Koch brothers just inherit their position in society.

 

Capitalism DOES NOT equal meritocracy when you only measure merit as money

 

We are entering a world where everything has a price. One caveat: there are  those who are born with so much money, they can buy everything

Fri, 09/30/2011 - 15:21 | 1727049 nope-1004
nope-1004's picture

making money on money is called capitalism

Bullshit.  Your definition is USURY.  And Usury is what the ultra rich have to keep in place to maintain their standard of living at the expense of the masses.

From Wiki:

"There is no consensus on the precise definition of capitalism, nor on how the term should be used as a historical category.[2] There is, however, little controversy that private ownership of the means of production, creation of goods or services for profit in a market, and prices and wages are elements of capitalism."

Capitalism without productivity is fractional theft.  Lack of goods produced and traded means that to make money, one has to invent a way to skim off of the transaction.  Buffet is a perfect example.

 

Fri, 09/30/2011 - 15:28 | 1727076 AldousHuxley
AldousHuxley's picture

I'm all for making money on money as long as the rich kid doesn't start out with $100M + massive connections vs poor kid starting out with $100K in education debt

 

In America, capitalism has turn rich gaining wealth by taking it from the middle class instead of rich growing because their base is also getting richer. The pie is actually shrinking and rich are taking greater share of the pie because they are spoiled brats who can't compete in the real world.

 

Buffet plays the same game banksters play, except banksters got too greedy due to their arrogance and lost and need bailout from uncle warren now.

Buffet > Rubinite Clintonian banksters

Fri, 09/30/2011 - 20:54 | 1727967 macholatte
macholatte's picture

Huxley, I think what you said is not well thought out.

Your concept of the righteous only being poor is silly and shows that you have been brainwashed by the liberals. Howard Huges inherited a fortune and made several more fortunes from it. There are many others who did likewise as well as people who came from poor families who did very well.

Your accusation that bad deeds are done only by Americans is also rediculous. Look at the European and Mid East royalty. What have they produced in 500 years besides children? 

Open your eyes and look out the window and you just might see a world filled with capitalists from the street vendor in Mexico City to the pavement contractor in China to the Italian and German automobile makers to the wine makers in France and on and on.

Remove government control and set people free and they become capitalists. It's the law a nature.

Fri, 09/30/2011 - 22:39 | 1728118 AldousHuxley
AldousHuxley's picture

I'm not standing up for those who choose to be poor nor look down on those who choose life is not all about money as banksters may have you believe.

For every Horward Huges, there are dozen more who didn't make it. yes 1% of people make the forbes 400 list, but majority of richest 400 families inherit or inherited privilege at least upper middle class upbringing.

 

But capitalist competition does not produce optimal results when you don't have FAIR competition. You can't remove government protection for labor and still have bailouts for the capital.

 

Open your eyes and see that the real elites are anything but gifted. Bush for president? really? by sheer population statistics out of million street vendors, none of them are smarter than George W. Bush? Out of millions of Arabs, only the Saudi family is smart and fit enough to rule and control the entire oil wealth?

 

Admit that opportunity is not equal and you will see capitalism is just another justification for the unmerited but inherited.

 

You cannot be a capitalist without capital. Dumbass with $100B will win over diligent genius born with $100, 99% of the time.

 

 

Sat, 10/01/2011 - 01:16 | 1728321 macholatte
macholatte's picture

I think you have a chip on your shoulder which is clouding your thinking because what you said again is not reality... at least not in the America I grew up in. I know Viet Nam immigrants who came to the USA with shit and have done very well for themselves. I have close friends who are from Mexican peasants and they have done very well. Good, honest, hard working people who grabbed for the brass ring and got a piece of it. None of them are on the Forbes list. So what? Stop being focused on the 0.5% of ultra wealthy and look and the millions who have taken advantage of their own abilities and a system that rewards their efforts.

Build a better mouse trap......

Fri, 09/30/2011 - 14:46 | 1726897 TheFourthStooge-ing
TheFourthStooge-ing's picture

The Carbuncle of Omaha.

 

Fri, 09/30/2011 - 16:58 | 1727463 TruthInSunshine
TruthInSunshine's picture

Corporations ARE part of the solution WHEN TRULY FREE, CAPITALISTIC MARKETS, and not some rigged, kleptocratic, tortured farce of a system allows literally a hundred people to decide on and plan a set of global designs, in a foolish (and ultimately futile and highly destructive) attempt at 'controlling humanity's future.'

 

Scamming (subsidized) corporations and financial teet suckers like General Electric and JP Morgan would not exist in a world of free markets and no central banking fraudsters. Free markets would suffocate them with their efficiency.

Fri, 09/30/2011 - 18:04 | 1727665 tmosley
tmosley's picture

Corporations can't exist in a free market, as they are a creation of the state.  Companies, however, can.

Fri, 09/30/2011 - 14:42 | 1726869 FMR Bankster
FMR Bankster's picture

Rick Santeli mentioned a wealth tax this morning just to get a reaction out of the venture capital guy playing co host this morning on CNBC. Thought the guy was having a stroke. Another liberal venture cap/private equity/hedge fund type wanting to raise taxes on everyone else but himself. Hopefully Santeli will remember that suggestion the next time Buffet's on.

Fri, 09/30/2011 - 15:23 | 1727059 Zedge Hero
Fri, 09/30/2011 - 15:11 | 1727006 brew
brew's picture

i know i'm going to get junked but, he's not one of the wealthiest people in the world by mistake.  he's rarely wrong...

Fri, 09/30/2011 - 22:54 | 1727638 TruthInSunshine
TruthInSunshine's picture

Riiiight. And he also wouln't have lost 17 billion minimally had Hank 'Tanks In The Streets' Paulson, Bernankincide and TIMMMAY not bailed out AIG with some 220 billion of taxpayer monies, so that AIG could make good on its asinine bets made with/to many of Warren B's core holdings, or had the same criminals not bought toxic crap from many of Warren B's other main investments via TARP/TALF,etc.

Fri, 09/30/2011 - 14:23 | 1726773 bonddude
bonddude's picture

U were scooped weeks ago on this by IMF. Captain Obvious here.

Fri, 09/30/2011 - 14:28 | 1726783 nope-1004
nope-1004's picture

.

 

Fri, 09/30/2011 - 14:36 | 1726830 Panafrican Funk...
Panafrican Funktron Robot's picture

Should have gone lean hogs today, Warren.  You'd think an aw-shucks "salt of the earth" type would have his finger on the pulse of basic ag commodities.  Man, you're nearly as genuine as that computer nerd persona that Gates constructed for himself.  

Fri, 09/30/2011 - 20:35 | 1727940 Dave Thomas
Dave Thomas's picture

Did you notice how giddy and kind of loopy he was? And with the coughing too? I don't want to sound like a jerk or nothing but Warren is starting to remind me of Wilbur Cobb of Ren and Stimpy fame.

 

I mean roll that video again, and compare it to this:

 

http://www.youtube.com/watch?v=4ZAPtwJ95_4 

Sat, 10/01/2011 - 10:09 | 1728722 covert
covert's picture

is warren getting senile? seems so, hope not.

http://expose2.wordpress.com

 

Fri, 09/30/2011 - 14:10 | 1726706 gojam
gojam's picture

I can confirm that the Bank of Gojam (BoG) has asked Mr Buffett for money.

He said "no".

Which was a shame as I had my eye on a Greek Island.

 

Fri, 09/30/2011 - 14:09 | 1726710 cabtrom
cabtrom's picture

Would you please just fucking die you miserable old fucking liar.

Fri, 09/30/2011 - 14:17 | 1726749 Taint Boil
Taint Boil's picture

Don't sugar coat it or beat around the bush ..... just tell us how you really feel.

Fri, 09/30/2011 - 14:22 | 1726763 sgt_doom
sgt_doom's picture

Ditto!!!!!!!!!

Neither this blog post nor that old fucking liar bothers to mention that his company has been engaged in a legal battle with the IRS regarding their owing billions in back taxes --- and this has been going on for years now.

http://www.youtube.com/watch?v=Ccazpyz0RyQ&feature=player_embedded

 

Fri, 09/30/2011 - 14:51 | 1726922 X.inf.capt
X.inf.capt's picture

well, his daddy was a congressman...

he knows how to work the system...

Fri, 09/30/2011 - 14:54 | 1726927 TruthInSunshine
TruthInSunshine's picture
He Ain't No Senator's Son - YouTube

 

Wait...

Yes.

Yes, he is.

Fri, 09/30/2011 - 14:10 | 1726714 AcidRastaHead
AcidRastaHead's picture

Obviously the "Recovery" is now in the "you'd better find your own sugar daddy" phase.

Fri, 09/30/2011 - 14:44 | 1726884 DCFusor
DCFusor's picture

It might not mean much.  WB probably gets asked for money every day by everyone who knows how to reach him.  My own wealth isn't well known, but I get it all the time.  Teaches you how to say no really well.  I'm sure he gets a lot more attention than I do (thank heavens).

Fri, 09/30/2011 - 14:11 | 1726715 PulauHantu29
PulauHantu29's picture

I guess the EuroBanks read that the Nobel Peace Prize Winner Barry gave The Buffet his very own Medal of Freedom for all his generous help (in getting him re-relected).

Now they want to Tap the Buffet in turn for perhaps 20% return on EuroBonds?

Fri, 09/30/2011 - 14:12 | 1726718 I am a Man I am...
I am a Man I am Forty's picture

cut a check you old sack of shit, get your hand out of my pocket!

Fri, 09/30/2011 - 14:27 | 1726779 Nascent_Variable
Nascent_Variable's picture

I like how Buffett bravely volunteered to join any group that wants to voluntarily give money to the government, if anyone else was to ever choose to start such a group, and if multiple other "ultrarich" people were to join the group before he did, and if...

He's such a bold visionary in the field of pretending to have principles and indicating that you may or may not stick to them, given the right conditions.

Fri, 09/30/2011 - 14:33 | 1726816 I am a Man I am...
I am a Man I am Forty's picture

Exactly, like he just can't do it on his own, just can't, always finds an excuse.

He is so full of shit and so fucking transparent.  Spends his whole life avoiding taxes and now its time for him to be the overlord of other people's money.  Wants other people to give their money to the most irresponsible, crooked, thieving slime balls in the world.

Fri, 09/30/2011 - 14:46 | 1726898 unerman
unerman's picture

Do you make $10 million per year from trading/investing?

No? Then this won't effect you. There will be no hand in your pocked over this tax.

My try to watch something other than Fox "news."

Fri, 09/30/2011 - 15:25 | 1727066 unerman
unerman's picture

Do you make $10 million per year from trading/investing?

No? Then this won't effect you. There will be no hand in your pocked over this tax.

My try to watch something other than Fox "news."

Fri, 09/30/2011 - 15:25 | 1727067 unerman
unerman's picture

Do you make $10 million per year from trading/investing?

No? Then this won't effect you. There will be no hand in your pocked over this tax.

My try to watch something other than Fox "news."

Fri, 09/30/2011 - 15:37 | 1727110 ValidName
ValidName's picture

Crying about tax rates for the upper brackets is best left to an audience with lower income, and we would assume no knowledge of how the tax system really works.   Switching to a system where we all just voluntarily "cut checks" would work fine for me to as long as I designate where the money goes.  But you would cry over that too.

The bottom line is quite simple, if you are making over 300k and paying a higher rate than someone at $30k you are either to inept to hire an accountant, or your accountant is incompetent.

Fri, 09/30/2011 - 14:12 | 1726720 youngman
youngman's picture

Thats funny...no one asked me.....

Fri, 09/30/2011 - 14:13 | 1726724 Dr. Engali
Dr. Engali's picture

I wonder when Margin Stanley asked him for money?

Fri, 09/30/2011 - 14:14 | 1726728 baby_BLYTHE
baby_BLYTHE's picture

So Buffett says we are not in a double-dip recession, but Soros does.

Fri, 09/30/2011 - 14:23 | 1726769 tekhneek
tekhneek's picture

how many billionaires are ever in a recession?

Fri, 09/30/2011 - 14:35 | 1726829 Esso
Esso's picture

No kidding.

Do NOT follow this link or you will be banned from the site!