Posted on 07/14/2008 2:34:38 PM PDT by StatenIsland
INTREP
The gist of the show was that everyone knows enough to invest wisely in the stock market, i.e. do you think Coke tastes good? Then buy Coke stock! Yeah!
I imagine that Cramer is going to pretty much short the market after all of the idiots have poured their money down the rat hole.
I am pretty stupid regarding big picture financial stuff, but I have had this creeping feeling that something very bad is behind what is happening with the markets. I read today about Jim Rogers, who used to be a partner with George Soros screaming about the fannie/freddie plan being a disaster. He openly states that his shorting these institutions in an article on bloomberg. I also think it is interesting that Goldman Sachs who has given my state it’s most liberal governor, Jim Corzine, continues to talk down finacials and talk up commodities. I smell something very rotten afoot.
here is Patrick Byrnes voice/power-point video on nekkid short selling.....
http://www.deepcapturethemovie.com/
I think part of the problem is that they changed a rule for shorting about a year ago that had been in effect since the Great Depression, and that 1% rule needs to be reinstated.
If commodities go down, then the municipalities go into debt.
This is the best PR the hedge funds can have: if governments depend on hedge funds doing well, then even the government regulators will be unwilling to do anything about it until it is way too late.
“At the time I was the editor of the Columbia Journalism Reviews.......The attack on Patrick was like nothing I had seen before”
Lol! He had never vistited a Patrick Buchanan thread on FR obviously.
Thank you for posting the link. Here it is again, it is a must watch:
http://www.deepcapturethemovie.com/
If they’re doing something illegal, then prosecute them. But if they haven’t broken any laws, then leave the shorts alone.
Sheep get sheared.
Their fees and bonuses from these true "killings" are so big they can't turn away from doing it. No fear of reprisal or jail, no morals or remorse, just get yours, retire big in the islands and let someone pick up the pieces.
The SEC banned Naked Short Selling last year: http://findarticles.com/p/articles/mi_qn4188/is_20070614/ai_n19291043
The two are markedly different, both as to purpose and execution.
What I am saying is that some of the money in pension fund investments is going into hedge funds because of the current (emphasis on current) high yields.
When the short selling starts, then everyone in government will all of a sudden realize what a stupid idea it was.
Jim Rogers was live on the John Batchelor Show last night talking from Singapore, just lambasting the Fannie Mae / Freddie Mac deal. Such hatred in his voice. If he was shorting the stock I am sure that he was losing some $$$ this morning.
He has a long history of being against gubmint bail outs.
His article is nevertheless worthless, because he fails to address what has to be the key point.
Specifically, if all of these folks were big supporters and protectors of the short-sellers of yore; and yet they're shocked and upset by short-sellers of today... what explains the difference?
Seems to me that that would be the real story.
Instead, we are presented with a rather bitter, angry screed in which the complicit villians from before, somehow become nothing more than a group of witless mouthpieces who finally get what this guy claims to have been saying all along and, oh, if they'd only listened to him three years ago....
An interesting psychogical case study, perhaps, but not much more than that.
If I had to make a guess, it would be that Mr. Mitchell is testing the waters to be a newsletter guru for some niche market or other.
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