Thursday, February 21, 2013

DRUCKENMILLER TAKES BRAVE STAND

Stanley Druckenmiller appeared on CNBS with intrepid reporter Maria Bartiroma today and discussed balancing the budget. His focus was on entitlements. Here is a bankster that spent his career at the trough of Wall Street slurping up hundreds of millions into his own pocket while lobbying our representatives to take away what pathetic protections we had from their thievery. We don't need to go into that old history, if you don't know it by now you never will. What I found to me so disingenuous is not that someone was addressing entitlements but how cavalier their discussion was. Entitlements are a massive part of our budget but then so is "Defense" spending, but Defense was never even discussed. I wonder why? Stanley pompously submitted that HE didn't need his Medicare or Social Security and that it should be simple to just means test people like him and Maria laughed approvingly as though this would be such a simple fix. Here are two people that make millions and one hundreds of millions flippantly discussing means testing WHOM? Some poor schmuck that ran a small business and saved up 300K in an IRA. Now they're going to tell this schmuck that he has to live on 1% interest (3000K/year) and distribute his principle for the remainder of his life. While paying for WHAT necessities. I'll bet Stanley doesn't worry about gas at 4$ a gallon or the price of milk or beef etc. I wonder when the last time he paid an electric bill? Yet here he was....casually making "means" testing a simple solution for a massively complex problem is just what the bankers want you to believe is the solution. The bring you massive derivatives that distort the entire financial system then tell YOU that you are the problem now. Of course there will be means testing and of course your entitlements (if you have any money) will be slaughtered by the broken system. I just hope you don't accept these evil bastards "simple" fixes. THEY AREN'T SIMPLE! And their math STILL will not work.  "The fix" will just make you the real payer of another bailout. AND YOU WILL be the payer.

Miners forming a bottom now. Look at PAAS chart today volume outside reversal day. They're not bringing the group up yet so expect more bottoming for a bit longer. Enjoy their game because that's exactly what it is to them. When they're done pummeling the PM trade they'll make money on the long side. Contrary to what some of you may believe. They WILL make money on the long side of the PM trade too. They just don't want you on board. Go ahead and go long GOOG or CMG if you believe that's a better play here. Far be it from me to protest that move in this so-called "market".... gl

32 comments:

  1. The frustrating thing is we all feel so helpless...I don't even like the word "entitlement" for those of us who've paid into the system for nigh unto 50 yrs.!!! Listened to an Axel Merk webinar today...even tho it's a sales pitch, he made excellent pts. 1.Yen is doomed 2. Gold is the ultimate currency and Soros & others sold in order to short the yen. 3. U.S. $ will not continue as safe haven b/c we will not address our debt 4. He is not in Swiss france as the Swiss are printing more than anyone. GL all, at least we got a bounce today.

    ReplyDelete
  2. Meant swiss franc. But Kli, if we don't accept their "fix", what are we to do to protest? So far, nothing has worked.

    ReplyDelete
  3. They're probing to see how much protest from the peeps....its also a form of conditioned stimulus for the inevitable. You can make it clear that you're mad as hell and you're not gonna take it anymore....sorry Network...anyway you speak out and speak often. There is an imbalance that is so far off the charts that your average peep has no ability to comprehend the math. Your future is buried in the sand all over the ME and North Africa...its all about math which is why they win and we lose....like I said....there is NO fix ...only survivors and victims....and the rest

    ReplyDelete
  4. Yeah we do have a problem with entitlements but not with SS or the peep's, SS a ponzi for sure but you do pay into it and double if your self employed, so it's really not a "entitlement" in the true sense of the word but who pinched all the $$$$ over the years in the lock box and replaced them with IOU's?

    You have to love these uber rich idiots that are the main part of the problem get to parade out to tell us how "We the Peep's" are the problem, not so, a good look in the mirror by the folks in any political office or corporate board rooms and they will see the problem. It's not the peep's that are the problem it's "They" that are the problem!

    How's this for "entitlements" or a less than PC way of putting it "Welfare"

    http://www.ctj.org/corporatetaxdodgers/CorporateTaxDodgersReport.pdf

    Take the time to go through it, it will make you sick, revenue issues, wonder why?

    Never mind all those offshore accounts........

    As for conditioning how bout the whole "sequester" debate, what a joke $44 billion in cuts on 3.5 trillion and all that chit is going to happen.... hehehehehe I guess they really do think the peep's are that stupid!

    Now for connect the dots:

    http://beforeitsnews.com/strange/2013/02/dhsfema-raising-an-army-2447374.html

    SCOTUS looking out for Liberty:

    http://reason.com/blog/2013/02/19/scotus-approves-search-warrants-issued-b

    Nice huh......

    http://www.thegatewaypundit.com/2013/02/shock-report-veterans-receive-letters-from-va-prohibiting-ownership-or-purchase-of-firearms/

    ReplyDelete
  5. CEF now trading at a premium. Gold/silver down, most of my miners up again...gdxj also up.

    ReplyDelete
  6. MUX call spreads are wide enough to drive a semi through. I wonder why? :) PAL $2 JAN calls aren't too badly priced if the volatility continues as it has. Just digging heheh...

    ReplyDelete
  7. Hubz do you have any theories WHY? Where will they have max pain

    ReplyDelete
    Replies
    1. I might be being simplistic but to me that says the sellers do not want to let go of them without some hefty premium. Makes me think they know it's worth a lot more than it's currently sitting, while the buyers are trying to get a steal and in the middle it's no man's land.

      Delete
  8. These schmucks of Wall street should be tarred and feathered....I can't wait until the sheeple wake up..I hope to live to see it and join in....

    to be so flippant about the suffering of the lower and middle class pains me...

    ReplyDelete
  9. Good morning everyone,

    This is an interesting interactive graphic that shows Eurozone debt with the US and Japan included. It is a little dated but still very telling of how the dominos might fall inside and outside the zone. What is laughable of course is the color coding of the U.S., Japan, and the U.K. in a shade of gray indicating "low" risk.

    Tom, those targets you showed kept me up last night. I sure as chit hope it isn't the writing on the wall it looks like it is. 20 years?!?! Almost unheard of these days. Congrats!!!

    Wilks

    ReplyDelete
  10. Whoops, forgot the link:

    http://www.bbc.co.uk/news/business-15748696

    ReplyDelete
  11. I'm a moron on Harvey Organ's stuff but it sounds like to me despite the beatdown there's still someone big standing for delivery in the coming months?

    ReplyDelete
  12. Last night I went to a real casino and made $100

    It was a lot more fun than the Wall Street Casino

    ReplyDelete
    Replies
    1. Hahaha I have often thought that too... at least in Vegas you get free drinks :)

      Delete
  13. Yes Hubz there is a large amount of OI that has not been shaken out in silver for the next delivery month.........could be wild

    ReplyDelete
    Replies
    1. I've been waiting for some party to stand for delivery and when they try to shake them out by dropping the price, they buy even more at lower prices. I hope this is what we're starting to see.

      Delete
    2. OI increased again yesterday according to Turd... the fact that its up after the brutal beatdown is a very positive sign correct?

      Delete
  14. Cup and handle on weekly FCEL chart?

    ReplyDelete
  15. looks like someone doesn't believe gold is such a bad investment and they are taking delivery

    http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/2/22_Maguire_-_Stunning_225_Tons_of_Physical_Gold_Bought_By_CBs.html

    ReplyDelete
  16. wilks and others interested...I follow this site several times/day. He keeps up with the latest vids and news. very good to refer to

    http://blogdogcicle.blogspot.com/

    ReplyDelete
  17. http://www.zerohedge.com/news/2013-02-22/guest-post-worlds-biggest-gold-storage-company-dumps-us-citizens

    ReplyDelete
  18. (Squints) Is that... green I see? It's been so long. ;)

    ReplyDelete
  19. We're suddenly green on Fri. afternoon just before wkly. close? My, my.

    ReplyDelete
  20. Turd is very excited about the latest COT. Looks like the cartel covered huge, and the specs are who poured into the shorts.

    ReplyDelete
  21. For once I think Turd is probably right Hub it fits with what I suspect is their next move. They cannot let large bullion going out with a discount much longer. Price reset then bring in some hype and flush the weak longs again

    ReplyDelete
  22. I read Jim Sinclair periodically but noted a comment today that he also expects a March explosion in PM prices...My guess is he is only looking at the triangle playing out but he still has contacts and I know his backround so I listen

    ReplyDelete
  23. Man I sure hope so since I'm holding APR calls :) I'm thinking if we break $31 in silver we could be off to the races.

    ReplyDelete
  24. sorry for my post on 800 gold & 5.00 silver.

    I did not know they would try it..

    LOL

    I bought SSRI at 10.50...again...LOL...I did not think I would get this chance

    the more they kick me in the balls the more I will buy....I am all in...well kind of....LOL





    ReplyDelete
  25. Six years ago SSRI was trading at $47/oz and gold was 880/oz. today gold is over $1500/oz and SSRI is just under $11/oz.....hehehehe....its the game. You will hear all kinds of explanations....but it is what it is....Of course some of the miners especially the spec plays will go to zero....but there will be many that go up 1000 to 10,000% before they crash on the final parabolic move. And if they don't so what....its paper...its fiat funny money anyway. Own real money own the bullion

    ReplyDelete
  26. Get daily suggestions and methods for making THOUSANDS OF DOLLARS per day ONLINE totally FREE.
    GET FREE ACCESS INSTANLY

    ReplyDelete