Comment Text:
Just something that all shopuld read about what is really going on
RANTING ANDY - WARREN BUFFET IS S--M, AND I CANNOT LET THIS OPPORTUNITY PASS ME BY!
Some of the things I write about take time to be understood, and believed, such as the criminal Cartel that has suppressed gold and silver prices for the past decade to maintain the status quo in which evil bankers and politicians on Wall Street and in Washington essentially destroy the country and steal its wealth. The reason it takes eons to get my point across (nearly a decade, and counting), is because most people don’t WANT to believe the powers that be are not working in their interest. Making that assumption puts one in a much more scary, and desperate mindset given that the economy continues to tank. HOPE is a powerful emotion, to the point that, after all the lies and criminality that has been made PUBLIC over the past few years, the general public still appears willing to believe the government (and Wall Street) can, and will, help them.
Another strange thing that people seem unwilling to let go of is the fable that Warren Buffett is a genius, as well as a swell guy. Sure, he’s smart. You have to be to become one of the richest people in the world, although buying and holding McDonalds (when your investment career happens to commence at the beginning of an historic bull market) doesn’t quite rank with Bill Gates’ resume of creating the most widely used computer operating system. But irrespective, props are due his way for his investing acumen.
America loves its celebrities, and Buffet’s billions and big mouth certainly makes him one. However, like another iconic “genius”, Alan Greenspan, Buffett has sold his soul to the devil for profit and prestige.
Greenspan wrote “Gold and Economic Freedom” in 1966, espousing how the only monetary system that works is one backed by gold. However, he spent his career printing money for the Federal Reserve because he enjoyed his position of power so much. As it turns out, he wasn’t so smart after all, and he is clearly the NUMBER ONE culprit on the long list of sc—mbags that have helped to quicken America’s descent into hell. But the point of the story is that he forsook all that he knew and believed to become a rich and powerful player in the criminal Wall Street/Washington syndicate that runs, and destroys America.
Anyhow, on to Warren Buffett, the subject of this RANT.
Buffett earned his fortune through hard work and a bit of the aforementioned luck, and thanks to America’s love affair with money, has been lionized as some kind of god. But it turns out that he, too, is just a man, and a very flawed one at that.
His father, Congressman Howard Buffett, was one of the most vocal supporters of the Gold Standard in American history. And, in fact, in 1998, a younger Warren Buffett took a major position in physical silver. So clearly, like Greenspan, Buffett once was a great supporter of real money, both in terms of his beliefs and where he made his bets.
Greenspan turned to the dark side of the force in 1987, when he was appointed Fed Chairman by Ronald Reagan, and Buffett did so sometime around 2006 when Berkshire Hathaway’s shady dealings with AIG (yes, THAT AIG) caused him to cut his first dirty deal with the government. In mid-2006, when the CRIMINAL silver ETF SLV was created to divert investor money away from REAL SILVER and into fraudulent PAPER SILVER, it was somehow initially funded with 130 million ounces of silver, or EXACTLY the amount that Buffett had owned. He then issued a ridiculously ambiguous statement to Berkshire shareholders that he had “sold his silver too early”, when it was clearly obvious that he was blackmailed by TPTB to sell his silver holdings to them to get the SLV fraud started. If the operators of SLV (JP MORGAN!) had tried to buy 130 million ounces of silver on the open market in 2006, the price likely would have doubled, or more, so instead they stole it from the largest public holder of silver, Buffett, and told him to keep his mouth shut.
Since that fateful day in 2006, it’s been all downhill for the United Criminals of America. Corruption has overrun Washington and Wall Street, and accelerated sharply as the financial system started to collapse in 2008. That’s when the U.S. propaganda machine really turned up the jets, which had already been well-primed following the tech wreck in 2000-2002 and 9/11. Warren Buffet’s “good name” has been used by his new masters on dozens of occasions since then to let everyone know that “all is well”, as part of the “extend and pretend” strategy that has simply taken us deeper and deeper down the rabbit hole.
In 2008, just before the financial collapse commenced, a crusading man named David Walker, the U.S. Comptroller General from 1998-2008, created a brilliant documentary called I.O.U.S.A. depicting how the U.S. financial condition was essentially in terminal decline. This movie, years later, is still a MUST WATCH, by the way. This movie was actually showed live around the country in movie theaters, and featured a follow-up interview with Warren Buffett by a young bimbo at CNBC named Becky Quick. This interview marked the start of the love affair between Joseph Goebbels (sorry, CNBC) and the disingenuine Warren Buffett, as if anyone even watches CNBC anymore.
The crowd in the theater where I watched I.O.U.S.A. was visibly perturbed at Buffett’s BULLS—T, espousing that all was well in America, that it would remain the king of the world due to its perseverance, blah, blah, blah, ending with his notoriously stupid “Don’t Bet Against America” moniker, which he constantly uses in his role as an obvious shill of the government, as well as to “talk his own book” given that he is such a large owner of U.S. economy dependent stocks.
And then the S—T hit the fan in the fall of 2008, starting with the collapses of Bear Stearns, Lehman Brothers, AIG, Merrill Lynch, Fannie Mae, Freddie Mac, Countrywide Credit, IndyMac, Wachovia, etc., etc., etc.. Which is when the government propaganda machine really started to work with Buffett on B.S.’ing Americans.
For those that follow Buffett closely, they know that he actually coined the term “Weapons of Mass Financial Destruction” when describing derivatives instruments as early as 2003.
In fact, as the financial collapse commenced in late 2008, Berkshire Hathaway was completing the worst year in its history, including a massive $1.3 billion loss at its insurance companies due to derivative instruments (due to the aforementioned dealings with AIG?).
So at the height of the market collapse in September of 2008, when Berkshire was in the process of closing the books on its OWN derivative losses, it surprised more than a few people when it was announced that Buffett took a major position in derivatives giant, and Wall Street/Washington Cartel leader, Goldman Sachs, while its stock was in freefall from exposure to massively stupid derivatives contracts with AIG and others (that it was ultimately bailed out of by the government).
A day after his “investment” was announced, “confidence” was restored and a major secondary equity offering of GS was priced, allowing it (combined with the bailouts) to avoid bankruptcy. But don’t worry, folks, GS is still INSOLVENT, and is only still in business thanks to tens of billions of bailout and, more importantly, changes to U.S. accounting laws in 2009 that allow them to value the worthless derivatives on their balance sheets at whatever price they want. And, by the way, the source of Goldman’s massive profits since then are purely due to those accounting changes and, of course, completely criminal insider and high-frequency trading.
There is little doubt in my mind that the government cut a deal with Buffett that if he pretended to invest in Goldman Sachs, they would cover all his losses. All he had to do was “restore confidence” by lying through his teeth, and going against everything he had ever represented about his views on derivatives.
And then, lo and behold, just a week later, when the great General Electric was also on the brink of bankruptcy due to the ridiculously stupid derivative bets at GE Capital (even bigger than Goldman Sachs), Buffett comes to the rescue yet again with a major “investment” which, like Goldman Sachs, led to yet another major secondary equity offering the next day that temporarily saved the company (until the more permanent fix of bailouts and fraudulently changed accounting laws came about the next year).
Buffett’s lies had truly turned him from Anakin Skywalker to Darth Vader, and no more so than when his #1 lackey, Berkshire Vice Chairman Charlie Munger, was allowed last year to not only put down gold as an investment, but to call anyone that chooses to invest in gold a “jerk.”
Anyhow, back to CNBC, easily the most pathetic “news organization” on earth since “Pravda” in Communist Russia and “Der Sturmer” in Nazi Germany. CNBC, which is owned by none other than the goose-stepping morons at General Electric (who now run Obama’s economic policy), has been in the business of hyping stocks and lying about the state of the U.S. economy for at least two decades. Their on-air personalities are either criminals like Jim Cramer (who admits to manipulating stocks illegally) http://www.huffingtonpost.com/2009/03/12/jim-cramer-on-daily-show-_n_174503.html, former Federal Reserve stooges like Larry Kudlow, or flat-out morons like David Faber and Steve Liesman that actually believe the economy is strong and the Fed is smart. The only intelligent personality on CNBC is Rick Santelli, but even he fails to grasp the simple concept that all U.S. financial markets are RIGGED 100% of the time.
So CNBC really and truly loves Warren Buffett, no surprise given the sensibilities (and brains) of its personalities. And I mean, they LOVE him, as in romantically and perhaps sexually. Nary a day goes by when Becky the Bimbo is not interviewing Warren Buffett for nuggets of Bulls-t, practically begging him to say “Don’t Bet Against America” so they can scroll it across the bottom of their screen as “Breaking News.” In fact, last week, before the admission of alleged fraud by one of Berkshire’s top executives came out, they were flying around the world on Buffett’s jet with him EVERY DAY.
And mind you, I NEVER watch CNBC, in fact you’d have to pay me to listen. However, it is on one of the ten TV screens on the wall at my gym, where I watch the price of gold get attacked each day by the Cartel while I work out (with no volume on). It is hard to avoid the visuals of “Breaking News” and “Buffett says all’s well”, with Becky the Bimbo’s big red lips fully suctioned onto Buffet’s a-s. That’s how I know what is going on at that pathetic channel, which by the way has seen its ratings plummet by as much as 47% from a year ago, when morons were still listening to the unadulterated B.S. of CNBC lifers such as “money honey” Maria Bartiromo.
Anyhow, the reason for this rant was the fact that David Sokol, one of Berkshire’s top executives, was resigned on Wednesday due to alleged insider trading. Essentially, he met with Citigroup bankers (them again) to discuss a possible transaction in which Berkshire would acquire a public company called Lubrizol. Sokol then went out the next day and bought the stock personally, and again a few weeks later, and voila, Berkshire then purchased Lubrizol in March.
Whether or not the letter of the law will implicate Sokol is not for me to determine, but Buffet’s denial of any wrongdoing, by either he or Sokol, is what angers me so much. Buffett’s organization is now fraught with instances of shady dealings (although none have yet been PROVEN), and this is yet another black mark on the career of “The Oracle of Omaha”, who along with Alan Greenspan will eventually go down in history as traitors on the level of Benedict Arnold, Brutus (“Et Tu, Brute”), and Judas Iscariot.
Below is a wonderful article from this weekend by Janet Tavikoli on Buffetgate. Hopefully, it, as well as this article, will make you think about ‘the great Warren Buffett’s’ role in American history.
P.S. And thank god for the internet, the most amazing invention of all time, which allows me to call up the numerous data sources for an article like this in a matter of peco-seconds (trillionths of a second), or roughly the amount of time that it takes for a Goldman Sachs High-Frequency-Trading computers to steal your money!
Andrew C. Hoffman, CFA
Managing Director
San Diego Torrey Hills Capital
B (720) 350-4130
C (917) 324-7602
