Michael Steinhardt Tells The Truth, The Whole Truth, And Especially The Truth About The Greatest "Con Job": Warren Buffett
Tyler Durden
Yet the smackdown of the Becky Quick/Joe Kernen Buffett-sycophant brigade was the prime attraction by far.
"Here in America's the biggest thing we have to worry about is how long it will take for Buffett to come down to earth where he should have been a long time ago, so people like you begin to realize his reality and get off some cloud."
"What is Buffett’s reality,”
“His reality is that he is the greatest PR person of recent times. And he has managed to achieve a snow job that has conned virtually everyone in the press to my knowledge…and is remarkable that he continues to do it.”
“Really,” Quintanila responded with a shake: “so outperforming the S&P, I don’t know how many hundred times, over the course of his portfolio…doesn’t matter?”
“Ooo, I’m not sure he’s done that. What he has done, and this is a great measure of the man’s wonder, is that he gave away two and a half cents for the first 70 years of his life- he gave away nothing- and then in one fell swoop gave almost all of his money thoughtlessly, to one guy. And from that moment on became the greatest advocate of philanthropy and pitched all the bumbling billionaires to do the same thing. That takes a special guy having given away nothing and then in one fell swoop ‘boom!’ he gives it all away and pitches the other yo-yos to give it away too. Now what does that say? I think that’s worth reflecting.”
And why a special place is reserved in the 9th circle of hell for the Chairsatan, right next to his true master: "He has just screwed all those nice old people who saved all their lives to retire and he is paying half of one percent so he could recapitalize the banks... The Journal does not talk about this because those people don't matter...If you listen to Bernanke inflation is low even though you can't help noticing what is really going on. Inflation is so skewed where inflation is commodities is flying and wages inflation is zero so for the average guy in America it is terrible. Not bad but terrible."
There are many CNBC producers packing their cubicles after this truthy disaster of unbelievable proportions.
Absolutely must watch (link)
VIEW HERE
April 5, 2011