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Whale watching the misled gold dumper
The Dick Bovine school of trading.
US Gov to Paulsen: Buy BAC or we'll "revisit" that Abacus/Goldman shit!
For all we know he could be taking his GLD money and buying real gold.
No. Can you say margin calls? When you're a leveraged hedgie you sell what you can, not what you want when the margin clerk comes callin'. Selling GLD, at least you get to book SOME profits for the qtr.
My guess: anticipation of Dilution Day
Some comments by a US trader on gold.
Says paper to physical is now 110 to 1.
Shit, does he and Celente take the same hallucinogens?
Because he can... and BAC represent a better ROI /LOL /sarc
Maybe it's a George Costanza thing..., you know, just do the opposite!
JP is laughing all the way to the bank....just not the ones he's invested in......
BAC and Capitol One. I cannot believe that. This is a really smart guy. He now owns Countrywide and Merrill. Oh my. I think I will stay with my simple thinking and not go there.
What's in yerrrrr wallet?
Mines filled with 2/3 gold, 1/3 silver (bullion and miners.....)
I am right next to you JohnG. And a few miners to sweeten the pot..
I smell another taxpayer government bailout of the TBTF banks coming soon
Throwing bad money after good?
...isn't it by now bad money after bad?
Not sure this was the smartest move I've ever seen. But hey, that's why we have markets. I'm sure he thinks BAC is TBTF so WTF. The Bernank put in all its glory is on display for the world to see. When this turd gets liquidated at 0.02 I think I'll be snickering and wondering again: WTF - why?
Paulson is TBTF, the taxpayer will essentially be bailing out his positions.
So, the lesson from this quarter's whale watching: Buy BAC and HFC. WTF???
Looks like a classic case of doubling down. Sell the winners and pile onto the losers. This will end badly for them. Redeem everything now.
I believe the correct term would be double-up and throw up. But I suppose anyone who's stayed with Paulson this year will get what's coming to them.
Wow, what a rookie move, averaging his losers. It'd be very interesting to see his entire position statements as this is his long only positions.
Is it April 1st?
He was directed to do so by the Empire
Paper gold...Who cares!!
Capital One ... astonishing to me they have that quite insidiously double-meaning advertising slogan:
'What's in YOUR Wallet?'
Always suggested to me that the bank wanted to TAKE what was in your wallet.
Commercials seen in the UK as well as the US, whole bunch of them on YouTube. One of them even with pirates, Bluebeard-style, 'Aaargh, what's in your wallet?'
Fits some banks well.
Transfer from one tool to another by another. Paulson is no god, he's just another fuckshite.
Would have been better changing GLD in Cobra!
No one as smart as he is, does this without a backstop.No one.
Maybe the backstop is they promise not to bring charges against him for the ABACUS deal?
Maybe he just bought some of the real deal. Doesn't make sense holding a piece of paper that can't deliver and he knows it.
Expensive wallpaper, gold however makes an expensive paper weight.
Has he looked at the 30 year chart of BAC? It hit a wall in 08 at high speed and is just bouncing down the road to zero. "It's dead Jim." The FED keeping it alive?
I know. Contrarian. Billions etc.
Trade war about to go hot on Obama "China gaming the system". USD bid, stocks down and Paulson should not underestimate China's liquidity issues. China goes, should take out the idea of a QE3 stock bull run.
Obama "gaming" quote
ZH, check wires Brazil is also tag teaming with US on a China trade war beatdown. Tasty.
One for the banksters and the ink jets
I just don't see how BAC survives in its present form.
I'd love to hear how much their deposits have decreased in the last 60 days.
Too bad earnings aren't due. Should be able to ferret out something from that unless they start double counting accounts.
Would not surprise me in the least if they did.
Paulson sez: If you can't beat them join them.
selling the winners to make up for the losers........eventually leads to the walls are closing in on paulson
How about selling your losers and doubling up on your winners?
Hey don't say that...far too much sense. Paulson might read it and then things start moving again.
How to make a millionaire ...from a billionaire!
Reeks of desperation!
I'm reminded of the Mr. Show sketch, "more money means better" -- So, because he's a billionaire, Paulson's better than you!
But seriously, paper gold is better than the paper nothingness of BAC... He's gone full retard.
BWAhahahahahahahahaha! AaaaRrrrrgggggg mates! He's made a fools move, prepare to cut down his rigging and board that bastard.
Yarrr, it's drivin me nuts!
Best. Punchline. Ever.
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