iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,431 Blog Posts

Everyone Lies

There is no such thing as truth air castles, where assholes live out their days being honest with one another. Like all men, I fight, tooth and claw, to defeat my friends and enemies— at some sort of nonsensical game of life. If my neighbor has a big ass tomato farm, mines has to be bigger.

Some people get stuck on stupid, believing in others, whether it be a spouse, a colleague or some jerk-off business partner. When times are good, people let their guards down, via trusting the instincts of others.

NOT ME.

Fuck that shit. I sharpen my knife everyday, while preparing for the eventuality of doing something different. While it’s true, “different” is a very general term; it’s the state of mind that is important.

Having too much trust can also lead to outsized and “larged dicked” losses in the stock market. Hey, for the love of gay goats and pink umbrellas with feathers on them, people trusted Lehman—all the way to the shitter.

The point I am trying to make, especially to my younger readership: quit being such a malleable pussy and keep your eye on the big picture—son.

Dr. Fly signing out for the night.

UPDATE: Totally unexpected vid from Karl, along the same theme.

[youtube:http://www.youtube.com/watch?v=wdFzVtQb1YA&feature=sub 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter

43 comments

  1. Goldie

    Karl is on point in that vid.

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  2. Braveflaps

    Step right up…

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  3. Pink Umbrella with Feathers
    Pink Umbrella with Feathers

    Mr. Fly,

    Why do you hate me? What did I do?

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  4. TraderCaddy

    Speaking of lies below is a link to some whoppers in the securities field all of which occurred in the last 10-20 years or so.
    Since gold is very topical read the one on Bre-X (for the recent traders). I remember this one like it was yesterday as I traded it from time to time.

    http://investopedia.com/articles/00/100900.asp

    http://en.wikipedia.org/wiki/Bre-X

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  5. DSB

    “Dick fuld comes on your air and says he is going to burn the shorts… and a short time later, who’s shorts get burned?”

    TADAOW

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  6. asteroids

    Bravo Fly, bravo.

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  7. Bobby Boucher

    Not that I’m a fan of beaker or anything even remotely affiliated with CNBC by any stretch of the imagination, but why should we believe this joker is not lying when he states that (paraphrase) “thousands of homes in Orange County will go into foreclosure. Not may go into foreclosure, but will go into foreclosure”. Is he the secured lender behind the mortgage notes that he knows this for a fact? Puhleez….I learned long ago not to pay attention to anybody who speaks their opinions as if they were absolute, irrefutable facts. Unless they’re doing it tongue firmly planted in cheek. In my book, this guy’s no holier than beaker though he likes to pretend he is.

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    • j

      He’s also the douchebag that was preventing Woodshedder from posting on his blog and then twisted things around. Karl’s a dishonest fat idiot. The fact that he’s going after Dennis fat head doesn’t change things.

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  8. Beaker

    Karl, our government is bankrupt by any standard. We have to keep this phony baloney thing going because a crash would hurt me. Good night to you, sir.

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  9. TheArtist

    Karl is right on point.

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  10. usedclothingseller
    usedclothingseller

    Abercrombie & Fitch gonna get the homo hammer tomorrah. downgraded to sell-off.

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  11. The_Real_Hmmm

    Karl is acting like Andrew Lloyd Webber on his latest menstrual cycle. For the love of rope and sturdy closet organizers, why the fuck is he acting like a pussy complaining about shit he does not fully grasp and cannot control. He is a lazy fucking lunatic that wants the oceans to engulf the coasts and Kevin Costner to rule his county while he is jerking off geoducks in some silt bay. He is the epitome of counterproductivity to alpha generation in the stock market. As far as I’m concerned, Karl, continue your work, it makes my life easier. Just remember, gun beats rock, paper, and scissors; and we are motherfucking Smith and Wesson.

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    • TA

      Well said,

      Karl is one of the biggest whiners out there blaming GS and everyone else for things he has no clue about. Bloggers like that can take a leap off a fucking cliff and that includes Tyler and zerohedge too.

      To quote j, the guy is a serious douchebag

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  12. Fema Camp

    No one is foreclosing on us and we got plenty of room for Beaker or Karl … which one is the nut?

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  13. JakeGint

    For the Love of Spaceley Sprockets and George Jetson, put your mind at ease… there WILL be pullbacks!

    ____________

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  14. Hammy

    ‘ “like all men” I fight, tooth and claw, to defeat my friends and enemies’

    most men are spineless, directionless, and generally unathletic ignoramuses, without even a mere tad of the traditional hunter-killer spirit

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    • The Fly

      A little FYI for Mr. Hammy:

      Not all competition is physical. Most important battles are fought with wit, using tenacity.

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  15. The Fly

    where they teach you that?

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  16. Pinto

    Maybe TNU (Ted Nugent University) in Texas?????

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  17. Flash Trader

    Australia has reported GDP growth and predictions are positive for Korea and China only slowed down. This whole economic debacle was about mortgages and fraud and the self inflicted damage to banks. It may be ending and the surprise may be how quickly the world economy resumes growth.

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    • j

      Yep Flash, could be right. Let’s hope Tudor get his dick ripped off. That would be nice.

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    • TheArtist

      mortgages and fraud and the self inflicted damage to banks ….yep

      key point there dude……

      …until that gets worked out, we will just meander along as we are now.

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  18. Juice

    Ever see “V for Vendetta”? That guy in the vid reminds me of the reporter on that movie who gets knifed in the shower.

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  19. TheArtist

    looks like another boring ass day in the market……….

    I now miss the days of yesteryear, talk of guns, bullets, bomb shelters, MRE’s and the Dow moving 800 points a day and 100 points per 10 minutes in either direction…..fun shit that was.

    Fly, are you still pondering GLW as a buy for today?

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  20. Yogi & Boo Boo

    Too nice a day for a boring market. I’m going fishing. See youse all later.

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    • so i herd you liek mudkips
      so i herd you liek mudkips

      the market isn’t boring. there’s a lot going on behind the scenes outside of just watching INDU. long-bonds are getting “TEH RAEP” and hitting support, potentially poised to make a lower-low (at which point I’ll consider taking a loss on my gold shorts).

      most importantly, though, is the VIX moving straight down.

      this is some serious repositioning in expectations.

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    • BackAndFill

      Nice, I’m about to head out and go chase some tuna while they are around.

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    • TraderCaddy

      Bring me back a couple of trout- sea trout if you are going to the ocean or rainbow if you are doing fresh water.
      Thanks.

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  21. Juiceyfruit

    Fabulous rant by Karl … shouldn’t classify it as a rant .. his points are irreproachable. Good on ya, Karl . Three thumbs up, dude.

    8)

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  22. j

    I think he’s talking shit, juicey.

    He’s basically saying that because failed banks had a 10% diminution in the value of their assets then ipso facto all the major US banks have a similar ratio of bad assets.

    They may, but he doesn’t fucking know that because he hasn’t valued the assets in those banks. So he takes the bad banks that have failed and transposes their loss ratio on the banks that haven’t, assumes he’s right and then attacks Dennis Teabag with his assumptions.

    I bet the fucker has never looked at a balance sheet of any of the banks or even understands them.

    Don’t get me wrong I’m not defending the banks here or anything like that. I just don’t buy unsupported junk masquerading as facts.

    That’s basically douchebaggery of the worst order and that makes Karl a douchebag.

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    • Juiceyfruit

      J – I disagree with you … he is citing facts as they have already happened and as they are …you are missing his main point .. which is correcting Douchebag Kneales assertion to blindly believe in this country, which also includes many white collar crooks hiding behind the flag whilst stealing money from its unknowing & naive citizenry.

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      • j

        Who the fuck is stealing money, Juicey? People really to be careful with the words they use. Americans voted in their government. if you don’t like what they are doing then vote the fuckers out. But don’t use terms like stealing when it isn’t appropriate.

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        • Juiceyfruit

          J – money stealers as put forth in Karls video = Dick Fuld, the BSC Ceo who said no problemo just before they went bankrupt .. those white collar criminals

          not to mention all the bankers who leveraged their buttholes to Mars & got bailed out by Mr & Ms USA taxpayers …. or our debtholders, aka China, who got their debt bailed out by USA taxpayer via govy officials

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  23. kouchuu

    This can’t be right… everything I own is up today. Longs AND shorts.

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  24. goldwall

    Dear Le Fly,

    I would like to commend you on such a great site that you have, filled with great bloggers with very good information, research and analysis. I feel for you when people rip you apart, particularly because you state of having big balls when you’re probably some kid who grew up in Strong Island or Staten Island, LMAO. Those places only produce arrogant fudge packers with the worst ignorant accents. But I must say I could be wrong, hope I am, probably not though, but great site.

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    • JakeGint

      Arrogant, for sure. But don’t “project” — in the Freudian sense — your own prurient sexual proclivities onto Noo Yawkahs with bad accents.

      It’s a good way to get your mustaches (sic) punched off.

      ________

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  25. Mr. Leonard Dykstra

    Yogi stands at a waterfall and grabs salmon when they leap. Anyone want to buy a French stove? I will let you have it at 1/2 price – $20k – a real bargain.

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  26. Dr. Incognito

    Gold bot is working overtime today. Gain a penny, lose a penny, gain a penny lose a penny. Gayer than Key West on Halloween.

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  27. TheArtist

    GS trade robots turned on early today?

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    • Dr. Incognito

      I am so working on that Goldman Robot picture this weekend in between wakeboarding sessions. Just need a fresh, free copy of GIMP.

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