Tonight, I saw Cramer on tv lying about why the market is going down again. You know, it’s real easy to blame short sellers, via SKF purchases (how absurd and laughable), for bringing down this financial system we call “capitalism.” Then again, this is not capitalism, but gangsterism.
Nonetheless, it’s not me and my friends buying 20,000 SKF, market order, with a $10 stop, that is causing the meltdown—trust me. Quit fucking lying to people, jackass, then maybe your bullshit stock price will get above $3.
SHAME ON THE HOUSE OF CRAMER.
The reason why we are in this situation is because the growth we have enjoyed, over the last 20 years or so, was built upon a lie. It was financed by vultures, who are now holding the entire tax base hostage.
The reason why GM, F, AIG, C, BAC, MS or any other piece of shit is not allowed to fail is because of the bond holders. They own this country, from the top down. They own trillions of dollars in corporate and treasury debt. They are the people or entities who have financed and will continue to finance our lifestyles and/or stupid shit.
Without them, this country would be forced to start making our own shit, because China would be like “get the fuck out of here with those bullshit dollars.”
Let truth be told, Bill Gross and his fucking friends need to voluntarily step up and tell C, BAC and GE that they will take a 60% haircut on their bonds, in order to save America. But they will never do that.
All they care about, all anyone cares about is themselves. So why should we act any differently?
I should stop paying my mortgage.
If you enjoy the content at iBankCoin, please follow us on Twitter
The Fly has a mortgage?
Of course.
Only old people or idiots pay in full. I can beat the return easy.
Paying your mortgage is so 2006
Fly,
If you stop paying your mortgage, you won’t get the tax deduction on the interest. You should keep paying it… Oh, and people who stop paying their mortgage are gay, no?
Fly,
Don’t worry I am going to buy BAC for $20 and save the world, as I am a benevolent god.
Jesus Christ Flowers
As much as I hate to say it as it truly saddens me to a great extent. America is going down the shit hole. No one will be spared as this thing will reach deeply into every American family, directly or indirectly.
Scumbags have ruined America. Prepare your pitchforks and torches, as your calling nears.
🙁
BTW, not trying to be hubris, but I own 3 pieces or real estate, 2 of which have no mortgage.
Dow 3500 – http://wishingwealthblog.com
Fucking bondholders over would ruin pensioners. My dad’s pension payout dropped by 25% by design when he turned 70 a while back. I don’t know how many other pensions are set up this way because it sure seems retarded.
If pensions can’t meet their current payouts, they will have to rely on the government or continue paying less to pensioners. Either way those of us who are working pick up the tab. I hope the baby boomers stay healthy and working up until the day they croak.
Not only is what you said up there absolutely correct and spot on, you forgot to mention that the American public do not give a rat’s ass about Obama and his “Change” bullshit anymore. Because of this and the fact that our congressional leaders are clueless, our country has inevitably began its spiral downward. We’re going to come out of it in time, but it’s going to be a long while.
J.C. Flowers Says:
Fly,
Don’t worry I am going to buy BAC for $20 and save the world, as I am a benevolent god.
Jesus Christ Flowers
ROFL
Fly,
Great freakin post. Brings to mind this:
“The real menace of our Republic is the invisible government which like a giant octopus sprawls its slimy legs over our cities states and nation. At the head is a small group of banking houses generally referred to as ‘international bankers.’ This little coterie… run our government for their own selfish ends. It operates under cover of a self-created screen…[and] seizes…our executive officers… legislative bodies… schools… courts… newspapers and every agency created for the public protection.” John F. Hylan Mayor NYC 1918-1925
and this:
“A society of sheep must in time beget a government of wolves.” –Bertrand de Jouvenel
nice post.
but “should” is my 2nd least favorite word.
should, might, maybe, blah, blah, ….. if you should , then do.
cheers!
p.s. congrats on the PPT. looks stellar!
BOTD
STFU.
THNX.
This market is hotel porn.
Fan out.
If The Fly truly is God, then The Fly can save us. With his massive amounts of wealth, he can buy out Bill Gross and all of his minions. The PPT can and will become the true PPT by collecting billions of dollars in monthly fees to go straight to the bond holders of our debt.
The Fly is a benevolent God. He is the one and only God. The God of all the living, all the dead, and all the yet to live. He shall reign for ever and ever, and shall protect his flock.
swatter,u really suck cock well.
what they need is an old school morgan-type to sack up and take the hit for the team. none of the new guys have the nads for that.
ROFL
This is classic stuff
http://www.reuters.com/article/topNews/idUSBNG36866620090224?feedType=RSS&feedName=topNews
This country is full of shit.
Hey Fly,
Why have you been bashing Bill Gross lately? I think it is funny that you are being critical of a person and company who employ arguably the smartest people in the industry. Why should he have to sacrifice a 60% haircut on his investments because he has positioned his clients well? Also, explain again how taking a 60% haircut on the money he manages at PIMCO would save America? The Government put more money into AIG than he manages in his Total Return Fund. Are his friends El-Erian and McCulley?
P.S. You can’t possibly tell me the degenerates at Merrill or Morgan are better money managers than the people at PIMCO.
PIMPCO guys are vultures. They front run the government and could care less about America.
Plain and simple: bond holders of distressed corp debt should get the fucking ax, instead of U.S. taxpayers footing the bill.
big PIMPCOin’
How is what they do any different that what you do?
You saw the financial and commercial real estate collapses coming and shorted the shit out of both of those. They know what the Government needs to do in order to stabilize the system and they get there first.
I agree that the taxpayers shouldn’t have to flip the bill, but why not wipe the common/pref holders out before the debt holders? Everyone knows they aren’t senior to bonds and carry more risk.
Choose your own “legacy,” or whatever it is that people conjure up in their minds to feel revered- Bond trading legend who sacrifices for America, or conniving bond trading raptor?
Hand over the fucking easel, Gross. Society will take it from here. Gross, heh. Odd, no?
Bought KHD on friday.Stock at $8.00 has 13.37 in cash
and book is 11.51.Looking for value,check this one out.
I’m just curious, what would your client’s tell you to do if you told them you were going to give them a 60% haircut, for America?
Because they manage 600 billion dollars and have America by the short hairs.
What up?
http://www.cnbc.com/id/29331307
this is good for a laugh. Carter Worth trying to sell a bottom that failed as “close enough”
When he gets to his support lines that you can draw in wherever you want because “that’s the name of the game. I was rotf.
So you are suggesting that all the managers at PIMCO call their client’s and tell them they are going to take a 60% haircut, for America?
If you were in Bill’s shoes would you tell your client’s to fuck off and wear one? How many people would give you money in the future if you did?
The Treasury is homohammering the market this week with new supply. Almost $125 billion worth. The money has to come from somewhere. Last week it was around $48 billion and we saw how that went.
Last time we saw the government sucking up money like this was last fall, when the market tanked. I’m not saying we go straight down for a seventh day, but this isn’t over yet.
“Hoku Executives Decline Cash Bonuses
8:01a ET February 12, 2009 (Market Wire)
Hoku Scientific, Inc. (NASDAQ: HOKU), a materials science company focused on clean energy technologies, today announced its Board of Directors had received a letter signed by all four of its executive officers asking that the Board not pay any cash bonuses to them for the company’s fiscal year ending March 31, 2009….”
Of course, The Street.com tells people to SELL this stock. This company is struggling mightily to build a renewable energy materials production facility in the United States. Say what you will about the stock, but under Cramer’s criteria – isn’t advising others to SELL the stock of a company focussed on the improvement of Americas production capacity and renewable energy capacity, like, totally uncool?
Anon
You miss the point.
It’s like me buying SWHC and artificially keeping the stock at $100 forever, because I am the biggest shareholder and threaten to destroy everyone unless it stays at $100.
PIMCO FAILED.
You fucking here me you faggot?
They made HORRID investments in all sorts of bullshit names and must take haircuts. It’s not a matter of them calling clients and saying “we must sacrifice 60% for America.” It’s a matter of them saying “we fucked up bad, sorry.”
All debt holders of banks/cre/ and other distressed debt should eat pavement, else the Treasury will have to eat it.
We’re liable to default on our fucking treasuries. The debt needs to be reworked.
Mathews turning on the O
http://www.youtube.com/watch?v=Vcmk1QBiegI
Again, why not wipe out the common and pref stock instead of the debt. You are acting people who invested in that shit should be saved. Do you know what PIMCO is invested in or what are on the books of all the major banks? I would be willing to bet PIMCO has a better idea than you do. So until the total return fund implodes, you can’t say he has invested in anything that sucks or taken on excessive risk. Time will tell if he has royally fucked up, or if you are simply a tool.
My guess is there is little to no chance he reworks the debt he owns. He already turned down GM, why would he start now?
Anon
If you read me you know I believe common and preferreds should be wiped. They should go into bankruptcy.
http://schiff2010.com
Ask Peter Schiff
Rally tomorrow then DOWN we go to much lower lows. S&P 640 – 620.
If they don’t stop with the National Socialism talk, this market is going going going gone.
Not again. I thought Japan cleaned up this mess years ago.
“The problem is very simple. With the Nikkei at 7,000, basically the banks have 5 trillion yen in hidden losses on shareholdings,” said Jesper Koll, chief executive of Tantallon Research Japan.
That’s $50 billion. Small change but in US terms it’s $300 billion economy size wise.
Out of respect for The Fly, I want Fly to consider today’s price action, IF it occurs, while Ben IF he signals Fed buying debt (treasury securities) and price action complements (aka Sell USD, Buy non-USD Majors action), your short OIL portfolio may need a quick cover temporarily.
Of course oil is a long term short, however, once the moving avg flattens out there is a chance of a squeeze.
C H A N G E
Communist
Hidden
Agenda
Now
Getting
Enforced
Just thought I’d pass that along as a thought for the day. Have a good one and BTW ……..HANG ON!!
Wow, Congresswoman Maloney is an albino gorilla. Very, very stupid.
If you read me you know I believe common and preferreds should be wiped. They should go into bankruptcy.
I don’t think my man understands Capital Structure 101, and so you are wasting keystrokes.
Mr. Anon — All Fly is advocating is that PIMPCO, that sack of garrulous commies, recognize the same impairment to their securities portfolio that almost every other major investor has. One does not write down one’s bonds unless the common and preferred are very close to worthless. Such is the case (as you likely know) with many financial firms.
The alternative to PIMPco taking a loss is that we pony up to save them and their wealthy clients.
No thanks.
___________
I bought some dollar yen earlier at 95.30 I now have raised my stop to 95.03 as I don’t want to risk much on the trade. If it starts working it starts from here.
Yen looks like it’s weakening across the board. Nothing has really changed other than the fact that the huge sell off needed to repatriate money home has happened and in fact the market feels overbought on the other side.
I’m thinking we see yen trade to 100 and if it breaks that level we could see it head to 105 ish.
I know this may sound a little out of tune, but I really think the stock markets are setting themselves up for a major rally over the next week or so that could be breath taking.
I haven’t met anyone who is bullish and every single paper or web page is almost suicidally bearish.
Chris Matthews is also an “albino gorilla.” He of the ecstatic “leg frisson.”
Now he’s asking questions about the most unqualified (if quite handsome and toothy) man to ever run for POTUS?
Jackass.
_____________
I’m thinking we see yen trade to 100 and if it breaks that level we could see it head to 105 ish.
I know this may sound a little out of tune, but I really think the stock markets are setting themselves up for a major rally over the next week or so that could be breath taking.
Okay, you’re the currency trader, so you tell me. How do we rally with the dollar strengthening MORE?
_________
Jake:
Sometimes the yen gets a head of steam all by itself and just moves across everything.
Euro could actually go up simply because of the Euro Yen cross which is now over 122 and still looks rock solid.
I’m just focusing on Yen weakness and think it will show up against the US Dollar.
Not really a dollar play as such as there are too many currents.
Gonna buy something this morning; something for the long hold. Maybe HQS, $5.50 ish
Gonna watch LEN,PHM,DHI for possible long scalps into ITB or XHB etfs.
If it doesn’t set up I will take a nap (since Leave It to Beaver isn’t on anymore).
Long guns and tilapia?
Here in NJ yesterday the NRA didn’t want to be fucked with.
Good for SWHC.
Update on Pending “One-Gun-A-Month” Bill in New Jersey!
Thanks to your efforts, S1774/A339 failed to gain the constitutionally required 21 votes to pass and was subsequently withdrawn by its sponsor. While this is a step in the right direction towards defeating a “one-gun-a-month” scheme in the Garden State, the bill is still alive and can be brought back for consideration during any full voting session.
Simply stated, this bill would prohibit an individual from purchasing more than one handgun within a 30-day period. The state already requires an individual to first obtain a permit to purchase – a process which includes an extensive criminal background check and a minimum of 30 days to complete. This bill, as proposed, is just another step that anti-gun legislators are trying to take to erode our Right to Keep and Bear Arms. This anti-freedom bill places arbitrary limits on our Second Amendment rights and would set a dangerous precedent.
If passed, this bill gives anti-gun extremists carte blanche to further hinder your right to purchase firearms. Next it could be one rifle or shotgun per 30-day period or even one handgun per six months or year.
Please continue checking your email and http://www.NRAILA.org for any updates on this threat to our Second Amendment freedoms.
speaking about mortgages…take a look at LPS – Lender Processing Svcs…this company specializes in default management…the chart looks good also, its at a resistance point and I am looking for a break above it in the very near term to go long this crapper with a $33 target…If we are going to make money, might as well be in default management.
didn’t someone here short Yahoo yesterday? it is up 6% in pre hours today…
Dont forget some ammo for those guns, otherwise they are as useful as a cracked brick. Lead and brass…However all the recent chatter about the end of the world and guns and shit is too crowded going Long TNA shortly after open.
LOL Anon ^^^
not married to tilapia. Mebbe OFI instead. Still considering.
Bennet Sedacca
09:05:00 AM
No positions in stocks mentioned.
GE paper blowing out
5 Year General Electric (GE) paper has blown out 40 basis points overnight and nearly 100 basis points in a week.
Why folks are gobbling up new corporate deals is beyond me. I am fairly certain they will rule the day.
Cash is king.
Risks are high.
What is amazing is that the lower we go, the higher risks become.
I don’t own a gun although they are fun to shoot, I don’t want one in my house. If you come in my house I will punch your mustache off. If you come in my house with a gun I will take it from you and unload it’s contents into your brain.
I just want to mention after all of the bullshit infomercial beat down that Fly was taking that Mr. Kronkite is doing a fabulous job and I really appreciate the information sir!
Fool..(aka tough guy?) quite doubtful- you will end up crying on the floor like a pussy.begging for mercy.
The FBI’s National Instant Criminal Background Check System (NICS), which serves as a strong indicator of actual gun sales, shows that background checks on firearms sales jumped 29 percent last month compared with January 2008. This followed a 24 percent rise in December and 42 percent jump in November. As I’m sure you know, Fly – its not what we think but what the public thinks that will move these gun stocks….
A.L.Trading- do you have any insight as to how many of those (indicated)sales were new -vs- used firearms?
Anyone picking up some tna, fas ( sucks that citi is about 10% of portfolio and BAC another 8%) also includes gs, BNY, USB etc.
Thoughts on some longs anyone ? Or is it still to dangerous
sniper6 buys UYG 2.10, OFI 3.49; HQS 5.50 still unfilled
If homies and SMH hold up on pullback I will be in on the long side for a daytrade or two.
Sniper6,
Unfortunately, the FBI doesn’t clarify whether background checks are for new or used weapons. However, I’m pretty sure your Red Rider pump action air rifle purchase will not be impeded.
Why HQS? Down 27% since $5.50.