Thursday, July 12, 2012

Seems I've Heard This Before.

If you won't listen to me, then maybe you'll listen to an expert from MIT. He thinks The Market Has Spoken, and It Is Rigged. He's a bit more polished and offers people who can't site the musings of an idiot blogger the 'legitimate cover' to now do so.

Tuesday, July 10, 2012

Lets Stop Playing Make Believe

I love the blogosphere and twitter but with the seriousness of goings on I get a huge kick out of a lot of the financial people in the space. They bask in the buy this, sell that, I know this, I said that mentality and you know what? There is nothing wrong with it. Self promotion is a huge, no check that, an enormous part of the success formula. So is making money. But I am here today to pinch you, to attempt to wake you up to the big picture unfolding around us. That big picture is the complete and utter cess pool of fraud the game you play and live off of has become and the fact we are all standing chest deep in it and sinking. 

I completely understand that the perpetual apologists on CNBC and Bloomberg who play make-believe daily, whose stance is based on maintaining their living which is dependent on cheerleading the continuation of the debt fueled ponzi cess pool. Yes, the same boobs and boobs in chairs who surmised Angelo Mozillo, AIG, LIAR LOANS, fraudulent ratings, MF Global were all one-off events and not part of a larger decay of our capital markets and did not amount to a hill of beans wouldn't know common stock from livestock if it bit them on the ass. But alas, the stories of corruption, deceit, looting and fraud continue unabated.  Whether it be the indirect route taken by maggots like Bob Diamond of Barclays who do their thieving quietly over time only to ride off into the sunset worth 9 figures (are you kidding me?)  or the more direct route taken like the statement falsifying looting maggot Waserdorf over at PFGBest and the report over $200 MM in missing customer funds is missing.

I'd love to tell you stories about the incompetence of the porn surfing regulators but that smokescreen is only good for cocktail party chatter. The real story there is the revolving door, bought and paid for corruption that has invaded the regulatory agencies from Wall St. like ants to a picnic. There are so many points of decay on this temple of disgust that that I truly think razing it and starting over may be the only option.

For those of you who missed it or simply dismissed it I encourage you to re-read Ann Barnhardt's final letter to customers back on November 11, 2011 announcing that she was ceasing operations.

In her letter Ann remarked and I am paraphrasing her here:

'that the entire system had been destroyed by the MF Global collapse -I prefer the words pre-meditated fraud to her choice of collapse but I won't quibble here- and that in good conscience (yes another foreign concept to Wall St.) she could not continue soliciting trades she knew were unsafe or holding funds she knew could be in jeopardy.'

The worry about the trade position is only half the battle, now you have to worry if you can get your money out of the joint. What a lovely table the products of some of the finest educational institutions this country has to offer have set for us. I do continue to find it more than Interesting all these patriotic business types I have mentioned before in my rants and who we see regularly on CNBC and Bloomberg, men like Wilbur Ross, Boone Pickens, Jack Welch etc., purported defenders of captialsm are all so mute on this subject of the integrity of the game.

Years ago men brought a 6-shooter on their hip to the card game to ensure they were not cheated in the game or of their winnings, they didn't take a Prozac, they didn't call their lawyer and didn't rely on bought and paid for golf buddy, porn surfing regulators nor oversight committees.

So for all you cats out there chasing Cramer's 6 stocks in 60 seconds (ROFLMAO) or the Fast Money laureates or simply chugging along focused about how much you're making might I humbly suggest you read Ann's letter again and then look around at the bigger picture soon. I say this for if you don't I fear you might only have a game left that is played against the computer (HFT) or God forbid you might not have a game left to play at all.

The time has come for us all to stop playing make-believe that everything is okay, we need to move on and that everything will work out.