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Kyle Bass Un-Edited: "Buying Gold Is Just Buying A Put Against The Idiocy Of The Political Cycle. It's That Simple!"

Tyler Durden's picture


If the abridged summary from BBC's Hardtalk interview with Kyle Bass that we published yesterday was not enough for those seeking sense, truth, and direction, then (as promised) the full 24'30" interview will quench that desire. Reflecting on the similarities of his subprime perspective, he provides a crucial context for the debt-laden world of sovereign debt that he is now hedging. Shrugging off the somewhat snarky 'nefarious short-sellers' angle of questioning (and insuring the uninsured prod), he simply and elegantly points out how massively asymmetric the bet was, how the asymmetry in Europe has disappeared now, and all the asymmetry lies in Japan. From the 14-minute mark, describes the demographic disaster, destroys the savings myth of the land of the rising sun, and brings into focus how Italy's rapid demise should be a forewarning for the debt-servicing of Japan.

Ending up on the Fed's printing and the need for guns and gold, there's a little here for everyone!

"Buying gold is just buying a put against the idiocy of the political cycle. It's That Simple"



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Wed, 11/16/2011 - 21:59 | 1885446 mfoste1
mfoste1's picture


Wed, 11/16/2011 - 22:00 | 1885448 strannick
strannick's picture

I always thought it was buying a call for the idiocy of the political system

Wed, 11/16/2011 - 22:12 | 1885474 BaBaBouy
BaBaBouy's picture

No Way... Im Sticking with the tried and true...

Rozengreen, Greensapn, Guythiner and Bennankie.

They will save us.

Have faith.

Give them a chance.

Just give them a chance...



Wed, 11/16/2011 - 22:50 | 1885559 dlmaniac
dlmaniac's picture

Bass was telling the host what went wrong in the world economy and yet all she cared was how much money Bass made.

Wed, 11/16/2011 - 23:03 | 1885595 wisefool
wisefool's picture

After he stated over and over again that he was majority long on everything, He bought $99 worth of stuff and a $1 lottery ticket. Typical hate the player, not the game.

Wed, 11/16/2011 - 23:39 | 1885652 FEDbuster
FEDbuster's picture

The name of this show should be "HARD to Talk".  She's worse than Jim Cramer.  Ask a stupid question, then shut the fuck up.  Kyle handles her pretty well, but she should have one of those rubber ball gag things in her dumb ass mouth. 

I wish she had asked one question, "Kyle tell us what you think of the current world economy and how are you investing and preparing for the future?"  Then let Kyle talk for 30 minutes straight.

"You can't hate the mirror cause you're ugly" fucking classic!!!

Thu, 11/17/2011 - 00:13 | 1885725 wisefool
wisefool's picture

I dont think he would need 30 minutes. Back to my gambling analogy, I think he would say. 

Kyle: The store advertized they would raffle off a car every hour on the last and first days of the month. If you buy a $100s worth of goods you are entered in the drawing. I need to buy stuff just like everybody else. I know that people get paid on midnight of those two days. I will show up at 23:01. Leisurely  buy my $100 of goods and win the car because my entry will be the only one in the hat.

MSM talking head: HOW DO YOU KNOW THAT!!!!!!!

Kyle: The folks that saved will have started chasing the prize at 00:01 of the first day. The folks that did not save, or read the adverts will not have any money till 00:01 of the 2nd day.


Kyle: Thats Jeff Bridges. he is a pacifist. he is here to drive the other car home.


Kyle: What kind of car do you drive?

MSM talking head: I dont own a car. I use the service or call the Hackney whenever I need to go somewhere unannounced.

Kyle: You see in Texas ....

MSM talking head: You are going to have to change your attitude if you ever want to be on this program again!

Hyle: Okay. So now can we talk about why the ECB cant really issue bonds that anyone but themselves will buy?

MSM talking head: "NO. I WANT YOU .... TO TELL ME .... what you are going to do about the 47 other people who won a car but did not think to bring Jeff Bridges to drive it home for them!!!!!!!"

Kyle: You see in Texas ....

Thu, 11/17/2011 - 08:38 | 1886215 bernorange
bernorange's picture

Bass kicks ass.  He has a real gift for distilling topics so that the lay person can understand them.  I always enjoy listening to him talk.

Thu, 11/17/2011 - 10:16 | 1886565 I am more equal...
I am more equal than others's picture

Hard Talk should be Its hard to think because I'm a shill for the status quo

Sat, 11/19/2011 - 17:05 | 1894507 Henry Chinaski
Henry Chinaski's picture

I would take her on the blue billiard table.

Thu, 11/17/2011 - 00:53 | 1885783 European American
European American's picture

Her hatred for men couldn't have been more obvious. Sign of the times. 


Thu, 11/17/2011 - 01:19 | 1885822 TruthInSunshine
TruthInSunshine's picture




PIIGS+France+UK yell "print, Trichet, print!"

Germans say "not happening"

What will the ECB, Sarkozy, the IMF do?

Will Timmay & The Bernank intervene?

Will generations of Germans be sacrificed in order to kick the PIIGS+France+UK free-rider can down the road for a few more years?

Will the EU tear apart at the seams?

What would Adam Smith, Keynes or Ludwig von Mises do?

Stay tuned for the dramatic conclusion of "As The EU Burns, Bitchez"

Thu, 11/17/2011 - 03:25 | 1885973 Temporalist
Temporalist's picture

I actually thought she was thinking of jumping him.  She couldn't get him on any angle she threw...probably liked being dominated in the conversation.

Fri, 01/27/2012 - 19:06 | 2104184 littleguy
littleguy's picture

This is typical of the BBC in general. It's a completely leftist organization which is like a broken record. Totally out of touch with reality and business / finance illiterate. 

Wed, 11/16/2011 - 23:53 | 1885694 HoofHearted
HoofHearted's picture

"You can't hate the mirror because you're ugly." And I thought it couldn't get any better than the quote about the German pope and Italian Central Banker....Dude would get my vote for most anything.

Thu, 11/17/2011 - 00:44 | 1885766 Oracle of Kypseli
Oracle of Kypseli's picture

I want to buy a share of that fort in texas. I will supply my own guns

Thu, 11/17/2011 - 01:30 | 1885845 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Me too!  I'll bring my own guns and ammo as well.

Fri, 11/18/2011 - 15:26 | 1892050 mkkby
mkkby's picture

She wasn't attacking him, idiots.  She was giving him time to answer his most shrill critics.  She kept going back to short selling because he wasn't defending it well enough to flush them entirely.

Wed, 11/16/2011 - 23:29 | 1885644 BigJim
BigJim's picture

The last thing the statist BBC wants to hear is that it's our beloved governments that have brought all this shit down on our heads.

Thu, 11/17/2011 - 01:03 | 1885802 clawfoot tub
clawfoot tub's picture

The last thing the beeb wants to hear is that it's the bank employees, better known as "government," that have brought this shit upon us.

Thu, 11/17/2011 - 00:03 | 1885706 FreedomGuy
FreedomGuy's picture

Exactly, maniac, but even moreso she wanted to say HE was part of the problem creating instability. Firing back with the Greek bank CDS stuff was fantastic but she insisted on just talking over him. She was a perfect example of somebody relatively poorly informed talking to a true financial genius and being too damned stupid to recognize and listen. In some ways she is representative of our idiot governments. She didn't even understand some of the things he said about trading.

I really like how she mentioned naked shorts and CDS bets as taking insurance on things they don't own. I wanted to scream at her that we all own shares in the stupidity of our governments and suffer from their stupid decisions. We are in fact buying insurance on our own financial lives. That's what hedges, gold and even guns for ourselves from our own idiot governments.

This Kyle Bass is one of my new heroes. I love this guy! More videos!



Thu, 11/17/2011 - 04:23 | 1886022 tion
tion's picture

Aye, hats of to Mr. Bass for keeping things classy.

I would love to see this Gem interview that would be quite a show lolz

Thu, 11/17/2011 - 16:44 | 1888806 XitSam
XitSam's picture

The aggressive tone and stupid questions are what the show's producers (BBC) want based on the audience's beliefs. One of those beliefs is 'making money is bad' when the reality they can't face is 'I didn't make any money because I couldn't recognize the facts.'

We really don't know if she is really that poorly informed or just acting, although I concede she may be.

Thu, 11/17/2011 - 03:40 | 1885982 swissbene
swissbene's picture

yeah that's boring plus need a clip for the promo.

will the end tonight?  find out in special report at 11...

Thu, 11/17/2011 - 07:53 | 1886175 Rip van Wrinkle
Rip van Wrinkle's picture

It's the BBC, see. They charge an annual fee and, if you don't pay, you go to prison. Period.

So that's a lot more ethical than someone going out and making their own money, don't you think?

Thu, 11/17/2011 - 08:03 | 1886181 Ghordius
Ghordius's picture

no, I don't think so

the BBC charges you according to a law made in parliament - it's a kind of tax - and the law could be changed

the interview was very good - for all her faults she handled her point badly:

the CDS market is smaller - that's the point - it's a tail that can be used to wag the dog

he is right by pointing that derivatives are legal since 40 years

the point there is that they were outlawed between the thirthies and the sixties for a reason (that should become more clear now)


Thu, 11/17/2011 - 11:10 | 1886468 Archduke
Archduke's picture

no.  the point is options are *listed*, so you have somewhat of a clue as to volumes, volatility, and pricing,

and (usually) there is no naked shorting so there is some skin the game with margin calls.  Nothing wrong

with a regulated, listed CDS market with central clearing.  which is what they're trying to fix, imho.

Thu, 11/17/2011 - 17:10 | 1887862 akak
akak's picture

... he is right by pointing that derivatives are legal since 40 years

Ghordius, while your English is very good, you made a very common mistake here that many, many other non-native English speakers often also make.  However, you should know that it makes no sense in English to say "since (a certain period of time)" by itself.

What you are actually trying to say should be phrased as "since 40 years ago", or preferably, "For the last 40 years" (although usually when one uses the word "since", they reference a particular point in the past --- as in "since last November", or "since 1971").  Please learn to use the word "ago" --- I've noticed that many non-native speakers (or writers, in this case) seem to have a very hard time with that word, but its use is essential when talking about time in the past in English.

Carry on!

Fri, 11/18/2011 - 14:54 | 1891878 Xavier Doe
Xavier Doe's picture

Amen... Or even better:


... he is right by pointing out that derivatives have been legal for 40 years


Thu, 11/17/2011 - 09:57 | 1886491 Archduke
Archduke's picture

-1000 BBC hardtalk.  don't interrupt a speaker when his point is cogent and not redundant.

I'm a huge BBC fan but I'm extremely disappointed by this rude and badgering interviewer.


Wed, 11/16/2011 - 23:03 | 1885594 Unprepared
Unprepared's picture

Stay put then

Wed, 11/16/2011 - 23:50 | 1885685 CORNGUY
CORNGUY's picture

Current Status:   

Drinking a 40oz.   Stack of cash and some gold coins on my desk.    I feel nervous, yet secure because of the AR and shotgun in my closet.    Have 3, currently on two of them.


Deflation will get pretty wild.    It will be choas before people start getting jobs and 'recreating' society.    My objective is to have a store of Cash, bullion, and weapons to ride out the fall.   It is only a matter of time before the current governments of the world collapse.   Think about it!   I would guess 80% of US Senators grew up before the internet.   Times change.    But change creates opportunity.    


With a store of wealth (not money, but wealth) you will be ready to ride out a deflationary, macroeconomic collapse.    


At the end of the day, this story has a happy ending.   Governments WILL change, policies WILL change, people WILL change, and life will return to a stable cycle.    However, as always, we will be a capitalist society.   I think, that if you are prepared, the coming apaocalypse is the OPPORTUNITY of a lifetime.   


Cheers Ass Holes

Thu, 11/17/2011 - 00:06 | 1885711 FreedomGuy
FreedomGuy's picture

This stuff is sometimes called economic porn so you have porn on three screens.

Thu, 11/17/2011 - 00:48 | 1885770 Freddie
Freddie's picture

When are you going to buy a real rifle like an FN-FAL?

Thu, 11/17/2011 - 01:36 | 1885858 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1  "Cash and gold is good."

Drinking my ice-cold raspberry vodka mixed with absinthe combo now myself.  My cash and PMs, while not on my desk are pretty close at hand (some anyway).  My 9 mm and AK are a little further away (as my wife does not want them in the house), but I feel OK about that part of the plan.

Cheers back at ya!

Thu, 11/17/2011 - 00:31 | 1885753 e_goldstein
e_goldstein's picture

btfd, ysfb.

Thu, 11/17/2011 - 00:35 | 1885756 GhostTrader
GhostTrader's picture

"Capitalism without bankruptcy is like Christianity without hell"

great simile, great interviewee

crappy interviewer (populist/sensationalist)

Thu, 11/17/2011 - 00:51 | 1885780 TheFourthStooge-ing
TheFourthStooge-ing's picture

strannick remarked:

I always thought it was buying a call for the idiocy of the political system

Buying gold is just buying a TDS (truthfulness default swap) on politicians in general.


Thu, 11/17/2011 - 04:10 | 1886003 swissbene
swissbene's picture

yes but this is ruthless antisocial speculation.  sure wealth preservation turns out real well for gold buyers (and they make a name for self, get invited on tv, etc) -- but does this not risk a self fulfilling prophecy vis-a-vis decline in currencies and political systems?


specious reasoning lesson courtesy of bbc.  a taste of what is comes in the finger pointing stage...

Thu, 11/17/2011 - 09:26 | 1886355 tarsubil
tarsubil's picture

Yeap, there is their reasoning for what they will ultimately do in desperation: these people buying insurance for themselves and families were taking part in destroying the currency and central government - that is, they are trrrrsts and their financial assests have been frozen/taken.

Wed, 11/16/2011 - 22:34 | 1885524 jdelano
jdelano's picture

this man is my hero.  

Thu, 11/17/2011 - 04:12 | 1886007 Talleyrand
Talleyrand's picture

That stupid woman could not keep her moutn shut for more than 60 seconds...too annoying.

Wed, 11/16/2011 - 23:47 | 1885678 Solid
Solid's picture

Dead on right!
I have not heard anyone put it so succinctly. He knows of what he speaks.
If I had a million liquid, I'd call him in the morning.

Thu, 11/17/2011 - 00:07 | 1885712 FreedomGuy
FreedomGuy's picture

Damn! I was thinking the same thing. This guy could manage all my money. He should be advising governments. Actually, he has been on some panels but gets ignored.

Thu, 11/17/2011 - 00:09 | 1885715 1000pips
1000pips's picture

Bass has been wrong for 3 yrs now. He makes great speeches but his advice yields no returns. Gold will never be currency because you cannot digitize it. Same with silver, just ain't gonna happen. Euro will be 1.40 in a week, take that to the bank.

Thu, 11/17/2011 - 00:20 | 1885733 Mine Is Bigger
Mine Is Bigger's picture

You are so right!!!  We can digitize paper currency and coins, but not gold and silver.  That really makes sense!

Thu, 11/17/2011 - 00:28 | 1885749 1000pips
1000pips's picture

Jewelry is impossible to digitize into currency. Remember, gold & silvers' true worth derives in the fact it is beautiful jewelry. Not that it can be traded for useful living staple, in that case ammo and medical supplies would be worth much more than a Rolex or gold ring. For a situation to get to that point, none of us blogging on this site would still be alive anyway. I suggest investing in Euro and make a ton if money befor Chistmas! Enjoy America!

Thu, 11/17/2011 - 00:39 | 1885762 akak
akak's picture

Shouldn't you be watching a rerun of Jim Cramer's "Mad Money" on CNBC?


PS: Yes, I did give you a red arrow --- asshole.

Thu, 11/17/2011 - 00:58 | 1885788 Oracle of Kypseli
Oracle of Kypseli's picture

Managing tones of money in a safe manner is not that easy. Even if he is not doing well lately he is not losing and he is balanced.

His thesis of where we are headed is what one admires and the courage to tell the truth as he sees it. As opposed to many hedge fund and mutual fund managers who are co-opted by the banksters and are talking trash.

The exorbitant bonuses in banks and funds are there to discourage whistle blowers.


Thu, 11/17/2011 - 01:05 | 1885806 caerus
caerus's picture

try harder please

Thu, 11/17/2011 - 02:26 | 1885925 OldPhart
OldPhart's picture

Y'all cut 1000pips (Member for 1 week 6 days) a little slack, ok? 

After all, with that NSA Lapel Pin avatar and the stealth program of one operative equals 1,000 social network accounts, it obvious that 'pips' is a military anacronym for 'Persistant Individual Personality Storage'.

1000pips most probably is a Corporal or Sargeant equivalent just cutting his teeth after advanced training in PPP (Pentagon Propaganda Programming). 


Thu, 11/17/2011 - 09:57 | 1886493 1000pips
1000pips's picture

Length of membership to a doomsday blog has no merit. Check out my call of Euro at 1.40 in a week, when I am correct you will perhaps look at the macro economic situation for what it really is- a head fake for armchair novice rookies, who constantly invest with herd mentality, in this case the 'dooms dayer's ', who so despartly wish the world would crumble, it will not, too much retail Christmas sales to report!!! Enjoy America!

Thu, 11/17/2011 - 16:54 | 1888892 XitSam
XitSam's picture

You conflate predicting something with wishing it to happen. 

Mon, 11/21/2011 - 07:34 | 1897887 Barometer
Barometer's picture

Looks like you have a margin call sir. Can you pay or would you like to double up again with some co-mingled funds?

Thu, 11/17/2011 - 06:56 | 1886137 Yogaman
Yogaman's picture

NEWSFLASH!!  Gold is already digitized at

Thu, 11/17/2011 - 09:28 | 1886362 tarsubil
tarsubil's picture

Your shenanigans are tragic.

Thu, 11/17/2011 - 00:29 | 1885750 Solid
Solid's picture

How the hell do you know that? He said many times he was long, so he would have to be stupid to not make money the last three years, so are you guessing?

Thu, 11/17/2011 - 00:53 | 1885784 TheFourthStooge-ing
TheFourthStooge-ing's picture

1000pips stunned us with this piercing analysis:

Bass has been wrong for 3 yrs now. He makes great speeches but his advice yields no returns. Gold will never be currency because you cannot digitize it. Same with silver, just ain't gonna happen. Euro will be 1.40 in a week, take that to the bank.

You're no million dollar bonus.


Thu, 11/17/2011 - 01:01 | 1885796 chump666
chump666's picture

No we are f*cking doomed.  In a week the market will panic making Lehman look like nothing.  The EZ bond market is c-hair from a total collpase with or without the ECB all in BS.



Thu, 11/17/2011 - 01:38 | 1885862 chump666
chump666's picture

...or die

Thu, 11/17/2011 - 05:07 | 1886060 James T. Kirk
James T. Kirk's picture

Complete nonsense, pips. You can't digitize anything, unless you have a transporter beam like me. If you would like, I could arrange a demonstration by beaming a 400 oz bar of tungston up your ass.

Thu, 11/17/2011 - 00:17 | 1885730 1000pips
1000pips's picture

Bass has been wrong for 3 yrs now. He makes great speeches but his advice yields no returns. Gold will never be currency because you cannot digitize it. Same with silver, just ain't gonna happen. Euro will be 1.40 in a week, take that to the bank.

Thu, 11/17/2011 - 01:19 | 1885821 caerus
caerus's picture

they'll just steal it anyway

Thu, 11/17/2011 - 01:40 | 1885866 caerus
caerus's picture

dulce est desipere in loco

Thu, 11/17/2011 - 03:57 | 1885991 swissbene
swissbene's picture

what bank?

sweet finally on ground floor for one of those asymmetric things...

Fri, 11/18/2011 - 01:16 | 1890411 OCTOPVS
OCTOPVS's picture

1000pips...someone obviously trades forex......unfortunately for you the people that do believe gold is and will be a currency, control the central banks around the world....wake up before you lose your grubstake

Thu, 11/17/2011 - 01:25 | 1885837 Zero_Sum
Zero_Sum's picture

"You can't hate the mirror because you're ugly."


Quote of the decade.

Fri, 11/18/2011 - 01:22 | 1890420 OCTOPVS
OCTOPVS's picture

Nah, quote of the crisis......"That is a great question does Europe have listed options markets on all of their equities and equity indexes?...they do dont they...?"    Why would you ever argue with a hedge fund manager?.....

Thu, 11/17/2011 - 01:33 | 1885851 CaptA
CaptA's picture

Wow, this woman is annoyingly stupid. She'd do us all a favor if she would just STFU and learn something.

Thu, 11/17/2011 - 02:13 | 1885891 e2thex
e2thex's picture


Thu, 11/17/2011 - 05:17 | 1886064 Bokkenrijder
Bokkenrijder's picture

Horribly prejudice interview by the *cough* 'fair and balanced' BBC!

Kudos to Kyle for remaining calm and trying to explain to the bimbo journo of how things work in the real world.

It proves once again, that the MSM is nothing more than a government propaganda mouthpiece.

Thu, 11/17/2011 - 09:31 | 1886374 tarsubil
tarsubil's picture

The lady was a bimbo? At least ours are easy on the eyes.

Wed, 11/16/2011 - 22:01 | 1885450 Floordawg
Floordawg's picture

“A nickel ain't worth a dime anymore.”

Wed, 11/16/2011 - 22:04 | 1885457 JW n FL
JW n FL's picture



it's worth $0.065

Wed, 11/16/2011 - 23:12 | 1885611 lamont cranston
lamont cranston's picture

Mr Bass bought $1MM of nickels several months ago. When  Micheal Lewis quizzed him on that, he said, "...a nickel is worth $0.068. That's why I bought them, as they will be reminted to be worth less within a year or so. And I had a hard time convincing the Dallas Fed to do the transaction."

That be 20 million nickels. Wow.

Thu, 11/17/2011 - 09:33 | 1886385 tarsubil
tarsubil's picture

Ultimately, I'd rather have Bass offer a PM backed alternative currency in a free market than getting Sanduskied like in the current situation.

Thu, 11/17/2011 - 16:58 | 1888924 XitSam
XitSam's picture

I didn't realize this was the 20 million nickels guy!

Wed, 11/16/2011 - 22:02 | 1885451 RobotTrader
RobotTrader's picture

Dow to 15,000

Gold blows past $2,000, maybe even $2,500

Why not cheer for higher stock prices?

Wed, 11/16/2011 - 22:13 | 1885456 Caviar Emptor
Caviar Emptor's picture

That's what they said in Weimar.....

1922: German stock market at 743 in January, rose to 8981 in December, and 26,890,000 at the peak in late 1923. 

I'm sure they were "cheering" as the Mark became worthless at 4 Trillion to the dollar and crime was rampant

Wed, 11/16/2011 - 22:23 | 1885501 RafterManFMJ
RafterManFMJ's picture


That's what they said in Weimar.....

1922: German stock market at 743 in January, rose to 8981 in December, and 26,890,000 at the peak in late 1923. 

I'm sure they were "cheering" as the Mark became worthless at 4 Trillion to the dollar and crime was rampant


Clear this up for me - did they also have a welfare underclass whose only source of sustanence was .gov provided bennies, with a propensity to riot over the least provocation?

Wed, 11/16/2011 - 22:30 | 1885515 Caviar Emptor
Caviar Emptor's picture

Clear this up for me - did they also have a welfare underclass whose only source of sustanence was .gov provided bennies, with a propensity to riot over the least provocation?

Far worse. Hitler's party was the only thing that prevented a communist revolution. That's why he was backed early by Germany's elite industrialists, wealthy and old guard nobility. In Bavaria, communism was the form of governemnt after a successful local revolution. It was called The Bavarian Soviet Republic (1918-1919).

Thu, 11/17/2011 - 04:15 | 1886011 TruthInSunshine
TruthInSunshine's picture

RoboMomoChaserPaperTraderUltimateFader asks "why not cheer for higher stock prices?"


Spoken like the true, fundamental imbecile that he is and represents.

Wed, 11/16/2011 - 22:40 | 1885529 bob_dabolina
bob_dabolina's picture

922: German stock market at 743 in January, rose to 8981 in December, and 26,890,000 

That's it. That last number, that's where Bernanke wants the Russell 2000. How did the Germans do that again?

Wed, 11/16/2011 - 22:56 | 1885578 LeonardoFibonacci
LeonardoFibonacci's picture

gold teeth hedge fund

Wed, 11/16/2011 - 23:17 | 1885621 lamont cranston
lamont cranston's picture

I collected stamps as a youth in the late 50s-early 60s. One of them is a red and white 75 mark stamp re-cancelled in black for 2MM marks.  That's the good ol' 50s Everette Dirksen real $$$ (remember, a billion here and there, and you're finally talking about real money in Washington).

Thu, 11/17/2011 - 17:08 | 1888989 XitSam
XitSam's picture

My mom's stamp collection I inherited has many of these stamps.  They are not really cancelations, but over-printing in black ink.  They did not have time to do nice engravings for the higher valuations, instead they just over-printed the new value on existing stamps.

Thu, 11/17/2011 - 00:52 | 1885782 Freddie
Freddie's picture

It happened in Zimbabwe over the past decade or so.

Wed, 11/16/2011 - 22:45 | 1885546 lieutenantjohnchard
lieutenantjohnchard's picture

read the coming of the third reich by richard evans. it's written for the layman but i found it a more informative read than many other books on the topic. you'll find the answer to your question and a lot more that will clear up many questions you may have about germany at that time. quite a good read if you're interested in putting all the pieces together.

Wed, 11/16/2011 - 23:40 | 1885664 DavidPierre
DavidPierre's picture

Follow the BloodMoney

Massive investment in Hitler's Nazi Germany was made by the ameriKlan ruling class while the USSA itself languished in Great Depression and tens of millions of Americans were unemployed and losing their homes, farms and businesses to the banks owned by the Rockefellers and all their clubmates.

After the Nazis seize power in Germany with arms and financing supplied by the Rockefellers, the Harrimans, the Duponts and other members of the U.S. ruling class, with the help of their minions such as the Bush family, the Nazis begin their "Aryanization" program under which Jews are forced to sell their business assets for a small percentage of their true value to "Aryans".

Many American corporations were quick to cash in their markers with the Nazis by sticking their snouts in the "Aryanization" trough, none more avidly so than the Ford Motor Company under one the world's most rabid anti-Semites, Henry Ford.

The Bank of International Settlements ...BIS... is created by a group of the world's major central banks. The ostensible purpose of the BIS, established under J.P. Morgan banker Owen D. Young's so-called Young Plan, is to provide the Allies with German reparations for World War I.

Strangely enough, the BIS soon turns itself to exactly the opposite purpose, siphoning money from the U.S. to the Nazis to build the Hitler war machine.

The structure of the BIS, safely tucked away in war-free Basle, Switzerland, is inspired by none other than Hjalmar Schacht, who will shortly become Nazi Germany's Minister of Economics and president of the Reichsbank, a man with powerful Wall Street connections.

Even before Hitler rose to political power, Schacht had pushed for an institution which would maintain channels of communication and collusion between the world's financial leaders in the event of a world war.

By its very structure, agreed to by the governments of all participating nations, the BIS is the perfect instrument for the boys in the back room. Written into the BIS charter is total immunity from closure, seizure or censure, regardless of who is at war with who. How convenient.

By 1939, the BIS will have invested millions in Nazi Germany while the Nazis, in turn, will have deposited vast sums looted from various groups of "subhumans" into the BIS.

From laundering Nazi loot, the BIS grew to be a supranational club with membership restricted to the handful of families who have defacto control of much of the global economy.


Thu, 11/17/2011 - 01:10 | 1885815 Oracle of Kypseli
Oracle of Kypseli's picture

There is a floating theory out there that the US will sink Europe and literally buy all the depressed assets for a few songs, since the dollar will strengthen and is also the worlds reserve currency and can be printed almost to infinity.

Does anyone have anything on that? 

Thu, 11/17/2011 - 01:56 | 1885877 wisefool
wisefool's picture

Only if it is a bait and switch to get the chinese to finally play Quixote. So far it has not worked. The US simply can not afford to serve as mercs preserving the Old World's empire streams. WWII, Vietnam, South Western Asia, Lybia ... all cases of USA playing the well paid but vilified heavy.

Thats what all the faux paus about Isreal are about lately. USA pushing by puting bases in Australia, pulling by getting back to a super pro-Isreal stance after the "insults". Let china manage the bunga bungas with their foriegn reserves. The USA cant send over our Ivy league trained elites to talk hardball with the cool kids. Within a day they are in awe of the sopistication and cave. Or are ridiculed like Timmy was.

Bush 1 gushed over the Brits and honoray knighthood. Bush II got a bunch of honorary titles from the Saudis. Clinton got, well we know what bubba likes.

Thu, 11/17/2011 - 03:45 | 1885987 Temporalist
Temporalist's picture

That would be too obvious to not see it coming, like hiding a whale in a goldfish bowl.  Every country in Europe would create their own sovereign currencies in a night before they let that happen.

Thu, 11/17/2011 - 06:25 | 1886115 AE911Truth
AE911Truth's picture

Dear OK, in reference to: "

There is a floating theory out there that the US will sink Europe and literally buy all the depressed assets for a few songs, since the dollar will strengthen and is also the worlds reserve currency and can be printed almost to infinity. Does anyone have anything on that? "

Here's what I see:
International Banking Cabal crashes EuroZone, buys rubble for pennies on the dollar. Cabal crashes USA, buys rubble for pennies. Cabal crashes ChIndia, buys for pennies. Cabal now owns world. Any questions?

Fri, 11/18/2011 - 06:12 | 1890643 slvrizgold
slvrizgold's picture

+100 AE911truth

Wed, 11/16/2011 - 23:16 | 1885619 topcallingtroll
topcallingtroll's picture

Be patient FMJ.

I love peaceful socialist types, especially hippy chicks, but the time will come when it will be legal to shoot violent parasitic rioters in all 57 united states.

Classy socialists and activist hippy chics dont receive .gov bennies. I can respect them and give them the courtesy of warning shots. The are so close to libertarians and the self help ethos, that I hang out with them hoping to bring them to the light.

(and get some of that fine, young, hippy p___y while they are at the age they give it away so each according to his need).

You know...I think I had a point here somewhere, but lost it after that last bonghit). I have been in my share of protests, mostly for the excitement and the hippy chics, but there is a difference between protesting on principle versus being a parasite on bennies and rioting cuz you think you should get more.

Thu, 11/17/2011 - 01:06 | 1885752 Melin
Melin's picture

Speaking of Zero, everyone gets the number of states in bizarr0's world wrong.  He said he's been to. . .thinking hard. . .57 states and then he thought more harder and did some rithmetic and concluded he had one more to go.  Probably Asia.


Bass was great!

Wed, 11/16/2011 - 22:13 | 1885476 lieutenantjohnchard
lieutenantjohnchard's picture

so you're resurrecting your dow 15000 gold $2000 mantra after you previously disavowed it.

robottrader: if you must.

Wed, 11/16/2011 - 22:13 | 1885478 vipmoneymachine
vipmoneymachine's picture

How about Dow 5000 and Gold 5000, we will see that by 2015.

Wed, 11/16/2011 - 22:30 | 1885518 lynnybee
lynnybee's picture

How about Dow 5000 and Gold 5000, we will see that by 2015.       BINGO !    That is the scenario i'm looking for.   

Thu, 11/17/2011 - 00:30 | 1885751 GetSome
GetSome's picture

I like how you think

Wed, 11/16/2011 - 22:57 | 1885581 yabyum
yabyum's picture

Robo, My man! I hope some of that upswing will be from my pm miners. Iam getting sick of being kicked in the nuts.

Wed, 11/16/2011 - 23:10 | 1885607 High Plains Drifter
High Plains Drifter's picture

welcome to cramerica. some people like to make friends.   i want to help you make mad money.........

Wed, 11/16/2011 - 23:21 | 1885627 Great Unwashed
Great Unwashed's picture

Why not cheer for a true capitalist system? Why not cheer for a banking system that doesn't suckle at the teat of the state? Why not cheer for justice?


Dow 15000 sounds great, but guys like Kyle Bass take pains to point out that behind all the numbers there's something real that has to be dealt with sooner or later.

Thu, 11/17/2011 - 00:41 | 1885763 wisefool
wisefool's picture

At least in the USA, there were many, many banking and financial service institutions that wanted no part of of these shenanigans. They some how all got "merged" Kyle is a good representive of what is left of that element. The rest were no match for "Don't fight DC+the Fed" proxy wars.

CNBC is right some of the time and guys like Kyle are wrong some of the time. But you gotta look deeper than the low cut blouses and strong jaws to see why it was not based on capitalism. Capitolism more likely.

Wed, 11/16/2011 - 23:27 | 1885637 Sam Clemons
Sam Clemons's picture

Looks like we may get 23 silver which seems impossible, and as a physical holder, I won't like it.

if you don't like technical analysis, don't go.  nothing else there for you.

Wed, 11/16/2011 - 23:43 | 1885673 GFKjunior
GFKjunior's picture

I looooove technical analysis if means I get to buy some silver for less than $25.

Thu, 11/17/2011 - 00:19 | 1885736 rocker
rocker's picture

When the Dow and Gold reach parity you will be right Robo. So, are you predicting Gold @ $15,000

If so, I like the way you think.  Oh yeah, so how are your previous doing: CMA, ANF and NFLX.    Hmmmm.  

Wed, 11/16/2011 - 22:03 | 1885452 JW n FL
JW n FL's picture











then you don't have shit.

Keep telling yourself that printout of what a bank has or that plastic card in your pocket will serve you well in all circumstances.. I really feel bad for the Families of Men who do NOT! truly provide security for their families.

I keep sharing! I KEEP SCREAMING! "Better SAFE! THAN!! SORRY!!!"

But keep those blinders on.. Europe and Contagion are NOOOOOOOOOOOOOOOOOOO REAL! Problem!

Either You are prepared or YOU! are NOT!

Either You are a Benefit to YOUR Neighbors! or YOU are a drain on YOUR Neighbors / Society!

Everyone has 10k rounds of ammo.. how many have bandages? extra medical supplies? extra food?

How many really do LOVE THIER NEIGHBORS? I would guess that given the scope and scale of Man's Ego.. Less than needed.. and that is the nicest way I can say it.

You Imposing Austerity Upon Your Loved Ones and / or Neighbors is WRONG! You are not an animal, You have NO excuse to act like one!

If you want to live like an animal, if you want to live by the laws of the Jungle.. go to Africa and be with your people and fellow animals!

here is a Taste of what You Idiots want sooooooooooo badly, enjoy! Africa UnPlugged! War Lord General Butt Naked!

Part 1

Part 2

Part 3

Part 4

Part 5

Part 6

Part 7

Part 8

there is your Austerity! There is Your Law of the Jungle in REAL LIFE PRACTICE! enjoy the entire City Shitting on the Beach! even the United Nations Workers!

and if you want to see how Brain Washed a Government can make a people watch this on North Korea.. it is NOT! a CBS special, it is NOT! a Corporate Approved Documentary!

those are some of the most REAL Documentaries I have EVER SEEN! and a REAL EYE Opener for those coffee house Liberfarians / Socialists.. either or! the same stupidity, on the same coin.. just flip sides, but the SAME FUCKING IGNORANT COIN!


Wed, 11/16/2011 - 22:22 | 1885488 margaris
margaris's picture

some scary links you got there, thanks for posting.

Better be prepared, I agree... but few listen...

Wed, 11/16/2011 - 22:25 | 1885504 High Plains Drifter
High Plains Drifter's picture

i see solar power in my future.  yep , off the grid is coming for me...........fuck them and their smart meter shit.......

Wed, 11/16/2011 - 23:06 | 1885597 AssFire
AssFire's picture

Where do you live that you think you can really use solar for anything other than charging a golf cart in three days?

I know it is Texas, my guess is W. Texas? Maybe they have enough clear days there.Still,

I think the step from combustabiles to solar is a very big step down, but I'm just a stoopid engineer.

Wed, 11/16/2011 - 23:14 | 1885615 High Plains Drifter
High Plains Drifter's picture

south central tejas.........we get much sol aqui todos los dias..............i am waiting for home despot to get their act together and some decent panels and then it is time to get off the grid. i also talked to some drillers and they said they would drill me a well , and not tell anyone about it..........too.......


its getting near time to hunker down..........

Wed, 11/16/2011 - 23:23 | 1885632 topcallingtroll
topcallingtroll's picture

Yeah I have never understood water rationing.

You see first they have to find the hidden well.

Wed, 11/16/2011 - 23:31 | 1885649 High Plains Drifter
High Plains Drifter's picture

they were at one time talking about putting meters on wells.  i saw this driller filling up at the station and i asked him about that. he said they are not enforcing it just yet ........more or less. he said he could do the job  off  ticket on the weekends when the goon squad is not riding around. the best thing to do is to buy a place with it already done. but i ddn't . wish i had.   to bring it in, i would think it would run a minimum of 10,000 at a depth of maybe 700 feet or so. also wells do sand in sometimes............oh well..........

Wed, 11/16/2011 - 23:52 | 1885693 FEDbuster
FEDbuster's picture

"Everyone has 10k rounds of ammo" 

Not so sure about that one.  But just like ammo, you can never have too much food.  I have stopped trying to warn or convince, it's mostly a waste of time.

Wed, 11/16/2011 - 23:29 | 1885645 Sam Clemons
Sam Clemons's picture

thoughts on geothermal?  gravitational electromagnetic wave extraction?

Thu, 11/17/2011 - 17:04 | 1888976 JW n FL
JW n FL's picture



Where do you live that you think you can really use solar for anything other than charging a golf cart in three days?

I know it is Texas, my guess is W. Texas? Maybe they have enough clear days there.Still,

I think the step from combustabiles to solar is a very big step down, but I'm just a stoopid engineer.



20k watts.. with batteries.. and 3 hours later you are good for 3 days!

keep telling people lies!

you nieghbor with solar panels and an ice machine will keep the whole nieghborhood in perishable foods for a good longggggggggggggggggggggggg while.

water is better.. but not every has alltitude / grade and a good water source in the same spot.

I will mention as well.. you can have 10 fucking wells on property.. how many of them have a hand pump?

they are less than $200 buck for a good one with a thinck leather blader.

just tryin to wake you fuckers up!

but some of ya just wanna believe Santa delievers your electricity..

maybe the Koch Brothers can talk you into following your feelings.. but your feelings aint gonna power the fuckin house!

Thu, 11/17/2011 - 17:39 | 1889187 XitSam
XitSam's picture

Come to The AZ baby! We got sun!

Thu, 11/17/2011 - 04:34 | 1886031 Tompooz
Tompooz's picture

"fuck them and their smart meter shit......."

Think of a time that  a database of "internet dissidents" will drive selective power "brown-outs".

Wed, 11/16/2011 - 22:27 | 1885511 RafterManFMJ
RafterManFMJ's picture




JW you have me so worked up I'm going outside and empty a 40  round AK magazine straight up in the air!

Wed, 11/16/2011 - 23:06 | 1885602 CuriousPasserby
CuriousPasserby's picture

Just don't stand under it. What goes up...

Wed, 11/16/2011 - 23:33 | 1885650 High Plains Drifter
High Plains Drifter's picture

when i lived in houston, i used to go up my roof and clean the leaves off and i would find bullets lodged in my roof from those stupid mexicans firing their guns in the air on new years...........

Wed, 11/16/2011 - 22:29 | 1885514 Random_Robert
Random_Robert's picture

Heavy Shit there, JW...

Reality sucks ass.



Thu, 11/17/2011 - 00:06 | 1885710 The Person Fami...
The Person Familiar With The Matter's picture

Do you recommend any stores or sites to acquire survival type equipment and supplies? Thank you.

Thu, 11/17/2011 - 00:09 | 1885717 The Person Fami...
The Person Familiar With The Matter's picture

Do you recommend any stores or sites to acquire survival equipment and supplies? Thank you.

Thu, 11/17/2011 - 17:09 | 1888996 JW n FL
JW n FL's picture



try this place for gun info..

dont be a pest.. and try to read and use the search before asking the same ole' questions.


like I said.. try here.. dont be a dick zombie hunter.

but to answer your battle riffle question.. .308 winchester / 7.62

hand gun.. herstel 57 (pistol)

12 gauge? pump Benelli

12 gauge? auto Benelli

but once again.. food, water? medicine? power? Gold? Silver (which will help you keep your water drinkable, GOLD WILL NOT!)?

Thu, 11/17/2011 - 01:24 | 1885831 kito
kito's picture

mr bass did say it wont be the end of the world. and hes not shorting the u.s. only japan at this point. hmmmmmmmmmmmm

Thu, 11/17/2011 - 16:57 | 1888922 JW n FL
JW n FL's picture



If one goes.. they all go..


there is this thing..

its called contagion...

when one bank..

loves another bank, very much..

it lets the bank stick its MBS / RMBS / CMBS inside its customers savings accounts..

then that same bank takes out cds on those things it stuck inside!

then.. less than 9 months later.. POOF! you have the birth of...

never mind it is all about the Sweet Lite Crude that is not available, anywhere..

if money was the porblem.. $6 Trillion would have fixxed it.

sorry folks! dont believe the hype!

Thu, 11/17/2011 - 08:56 | 1886260 DeltaDawn
DeltaDawn's picture

Wow, amazing footage. In my dream world, Kyle would be a financial correspondent and we would have raw foreign events coverage like this. Well worth watching.

Wed, 11/16/2011 - 22:05 | 1885459 baby_BLYTHE
baby_BLYTHE's picture

Not a great idea bringing a knife to a gun fight against Kyle Bass.

Wed, 11/16/2011 - 22:17 | 1885482 DavidPierre
DavidPierre's picture

The interviewer from BBC attempted an ad hominem attack.

That plus all her interruptions were in very poor taste.

Pity her really... she did not listen and might have learned something important!

Give her a C- for a this.

Wed, 11/16/2011 - 23:38 | 1885659 wisefool
wisefool's picture

I think this is actually good. Humans can instinctively sense desperation, even if they dont understand the argument, terms, or for that matter, even the language. Then they start paying attention, and learn the terms for the sake of empathy. when they learn the terms, they reflect back and are more equiped to discern whether the desperation is guilt or persecution. Bass did it perfectly with the "atonement" segment. She then overreaches and goes to the "what do you tell your mother to invest in ... gold and guns?" he counters with "I spend my charity money on people injured fighting for our two countries"

Same thing is happening with Ron Paul. The MSM has called him a nut. for 30 years. But people ARE watching the republican debates. Who would have thought that people like romney would discuss the federal reserve? when was the last time in any presidential debate every single candidate says they want to repeal or revemp the tax code? in every single debate? In the last debate, Dr. Paul spanked Batriromo with the M1 numbers. within the next two debates every single candidate including romney will have talking points on M1.

People say Perry has gone full retard. If you listen to what he is saying, he is like a mute 3 year old who is now speaking in full sentenaces for the first time and Ron Paul advocacy from 10 years ago were his nuturing parents.

If we dont get Ron Paul in the national election, the discourse will revert like in flowers to algernon. Obama will get Elizabeth Warren to convince people that $5 ATM fees are going to ruin the country as opposed to $2.50 ATM fees. And romney will argue for $3.00 ATM fees.

Thu, 11/17/2011 - 00:58 | 1885789 Freddie
Freddie's picture

The BBC and anything on TV is shit. Morons watch TV.  The BBC's first and foremost approach is all white people are evil except liberal news presenters at the BBC.  There other propaganda is that islam is the relgion of peace, Thatcher was the devil, etc etc.  ALL TV is like this now and sheep who watch enable the overlords.    

Thu, 11/17/2011 - 02:29 | 1885928 caerus
caerus's picture

poor woman was bass mastered

Wed, 11/16/2011 - 22:06 | 1885463 The Big Ching-aso
The Big Ching-aso's picture



Gold and silver are precious because fiat-authorities say it's not.    Such use of reverse psychology failed fucking miserably, Mr. Bernanke.   In case you haven't noticed.


Wed, 11/16/2011 - 22:11 | 1885472 lynnybee
lynnybee's picture

let's get this over with / i've got that crisis fatigue & my friends & family are laughing at me ..... "you said that last year & nothing happened ! "    " i'm not buying into this collapse stuff, remember when everyone was crazy about Y2K & nothing happened ! "



Wed, 11/16/2011 - 22:24 | 1885503 High Plains Drifter
High Plains Drifter's picture

alex jones y2k

i didn't have the chance to listen to this when it first happened but i wish i had. it would have made for a interesting night of entertainment ...........

Wed, 11/16/2011 - 22:32 | 1885520 DavidPierre
DavidPierre's picture

Oh... but Y2K did happen... on 9/11 !

All changes in life happen in their own time.

You upset their beliefs and cause cognitive dissonance.

Chin Up old girl.  Most of my family came around with time.  So will yours.

Wed, 11/16/2011 - 22:34 | 1885521 GIANTKILR
GIANTKILR's picture

Exactly! I have been seeing this same shit for the last 3 years. "The world is ending!" "Everything is collapsing!" "Tomorrow is the end!" Yada, yada, yada! I can't figure out if it is a lot of fearmongering or if they have figured out how to kick the can down the road indefinately. Numbers don't lie. We are fucked, but the system refuses to comply!!!!

Wed, 11/16/2011 - 22:39 | 1885533 centerline
centerline's picture

It's all in the timing and the speed of events.  Just call it for what it is in a macro sense without any hard target dates and you will look like a prophet.  Can't trade this way (LOL)... but it helps resistant family come around.

Wed, 11/16/2011 - 22:48 | 1885553 topcallingtroll
topcallingtroll's picture

It took rome a couple hundred years to decline abd fall.

America is about halfway through the sixth inning. Relax.

Wed, 11/16/2011 - 22:36 | 1885527 centerline
centerline's picture

Hang in there.

And keep in mind the boiling frog analogy.

I get the same crap as you sometimes... then I toss out the whole "lets evaluate the last 30 years trend" sort of thing. I point out the cost of living versus stagnating wages. I ask what is next, now that it take multiple people to maintain a middle class standard of living. How is retirement looking now compared to their parents generation. I ask if they are counting on social security and how comfortable they feel about that. Etc. I usually don't get any answers.

No need to talk about peak oil, NWO, TPTB, MSM, or anything else that brainwashed sheeple are programmed to attack. You have to hit them right in the place they can't defend... their shrinking wallet and their leisure time.

Wed, 11/16/2011 - 22:44 | 1885544 SilverDOG
SilverDOG's picture

Y2K was a suppression ploy which worked amazingly so, based upon a... clock.

This time it is math, pure and simple, with a clock in the background advancing in slow motion.



Wed, 11/16/2011 - 22:17 | 1885484 SHEEPFUKKER

Why did this crazy biatch keep interrupting Kyle?

Wed, 11/16/2011 - 22:22 | 1885497 Hulk
Hulk's picture

Because, she is a crazy Biatch...

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