You may have read an article I wrote on Jim Cramer and the "bubble" network, CNBC.
In this piece, I plan to really get into the details of how the media serves as a conduit to transfer your money into the hands of their Wall Street sponsors.
Maybe there’s a good reason why CNBC has a show called Fast Money. If you follow the advice of these guys, your money is likely to evaporate very fast.
Likewise, I’m beginning to see why Cramer’s show is called Mad Money. You’re likely to get mad if you follow his advice. Or maybe you have to be a mad man to watch it.
Cramer, didn’t you tell investors to stay in Bear Stearns and Lehman Brothers just days before the collapse?
But these were not his only terrible calls. He has hundreds of others, as written transcripts of his show demonstrate. And the meatballs on Fast Money are no better.
Once again, examine their track records.
These guys are clueless.
And if you have followed them you will agree.
If you don't agree then you should check your memory.
“Watch TV, Get Rich?”
In my opinion, that claim is in violation of SEC rules, not to mention that fact that it’s a complete lie.
In fact, the opposite is true… “Watch TV, Become Poor.”
The only people getting rich when YOU watch TV are those behind CNBC, including the sponsors.
Of course most of the shows on CNBC have the token “babe” there to offset some of the testosterone overload.
Is it just me, or do these guys look evil?
Want to let CNBC know what you think of their Wall Street shills and imbeciles with terrible track records? Call Gloria McDonough (201) 735-3057.
When I called her to ask “isn’t it about time they started to air real experts with good track records,” she told me “all that matters is that we have been getting record ratings.”
In other words, that’s all they care about.
Did you think they cared about providing accurate insight?
Ratings means more ad revenues.
And every time you watch CNBC you are making them rich, at the expense of your retirement account.
If you watch CNBC, you are part of the problem.
Do yourself another favor. Pick up the phone and call the SEC 202-551-5777.
And send an email email@example.com.
Demand they remove this stock pumping network from the airwaves. Demand they investigate these losers.
Send an email to Obama.
Go to www.recovery.gov and click the “Contact” menu at the top.
Ask him why he appointed Mary Shiparo, another SEC insider to head the SEC?
Demand the banking crooks be sent to jail.
If the SEC was doing its job, it would have shut CNBC down long ago and sent the stock manipulators to prison.
Understand this. The SEC is partners with Wall Street, just like the FDA is partners with big pharma.
These government agencies aren’t protecting you. They pretend they are by going after the small guys. The guys who didn’t do much. Meanwhile, they let the market makers rip you off every day. And there are hundreds if not thousands of other Madoff Ponzi schemes out there. I will guarantee it.
You need to detach yourself from all TV and radio shows, all websites and print media that advertises, mentions or interviews any of the clowns on CNBC or FBN because they are in the same dirty water.
My Story about Peter
I actually ran into one of the guys on Fast Money, Pete Najarian at a Charles Schwab Active Trader forum back in March 2008. Since the Schwab event was only a mile away, I went to offer my insights to investors.
Make no mistake. I don’t watch CNBC. I don’t even have cable since I have no time for trash. I only saw the show once when I was on a business trip, bored in my hotel room. That’s the only reason I even knew who Pete was.
I handed Mr. Najarian a copy of my book, America’s Financial Apocalypse: How to Profit from the Next Great Depression.
I told him that we were seeing the very beginning of what will be the biggest crisis since the Great Depression. I asked him to take a look at the book and contact me if he or anyone else at CNBC would like to discuss the coming depression. He agreed.
Of course, he was the speaker at the event and I’m sure he cleared a nice fee. He was a pleasant man and a good speaker, but he failed to address most of the questions the audience had about the economy.
Pete, let me tell you this. You are an irresponsible bum, and you are CLUELESS about the stock market.
Peter, you should be ashamed of your selfish interests. You are part of the CNBC crew that is responsible for causing millions to have lost their retirement savings.
In total, myself and my PR person have contacted every TV and radio show you can imagine – over 1000, with no response; not in 2006, 2007, 2008 and 2009.
As a matter of fact, I have been black-balled by the entire mainstream media in America.
Ask yourself why?
I’ll tell you why.
It’s all about protecting the political and financial agendas of the media, whether its direct orders from the White House or kissing up to their corporate sponsors, many who are financial firms.
And when they want to air doomers, they chose their friends - guys with zero credibility because they’ve been predicting doom for 15 or 20 years.
In other cases, their perpetual doom pitch is a way to pitch gold to you. Have a look at the names of the guys they interview, whether it be on TV or print (Shiller, Roubini, Schiff, Krugman) and consider who owns the media and you should be able to figure out the connection. If not I’ll spell it out in the future.
But that isn’t all. See folks, the fact is that media clowns like Najarian make big bucks speaking at corporate events, many of which are financial corporations; the same corporations that advertise on their network.
So by playing the game in fooling viewers, they not only serve the mission of the network, but they also make more money on speaking gigs.
The facts speak for themselves. This guy is just as much of a clown as the rest of the losers on CNBC. And when you watch, you are making THEM money. They don’t care if you hate them, as long as you watch. Remember that.
Certainly I have given several radio interviews to warn people of this mess, but most have been local radio shows.
Why? Because they have more freedom to violate the status quo agendas since they do not have big name corporate sponsors.
Other syndicated shows have strong political agendas and they do not want to interview anyone who can disrupt this. This is the way it works. And this is why everyone gets destroyed during these meltdowns except a small handful that have access to real experts.
I have no incentive to market myself because, unlike the cheeseballs you see on TV, I don’t deal with retail investors; the sheep. I deal with institutions. And you better believe the guys I’m advising are doing well in this crisis because it’s a fact.
My only motivation was to help retail investors – the average Joes – escape the same fraud that occurred during the dotcom charade. Those who listened to me or read my books were set, assuming they had an IQ of 100 or more.
Since it is extremely difficult to know what to expect, most opt to become marketing machines because all they care about is making money.
And they are incapable of making money consistently from the stock market. They make money selling you an empty bill of goods.
As we all know, even most “experts” on Wall Street have been clueless about the economy and stock market. They don’t need to be experts. They make money either way while you lose.
Why would Schwab have anyone else speak at this event other than a TV personality from their big marketing partner, CNBC?
Because they want you to only have access to the “dog-and-pony” bull from CNBC. And they know that most people attach credibility to someone if they’re a TV personality – a HUGE mistake.
The Schwab event was in early March 2008, the weekend before Bear Stearns was handed over to JP Morgan, compliments of taxpayers.
As we all know, much has happened since then. Yet, despite contacting CNBC on numerous occasions before and since then, including Cramer’s show, I have heard nothing.
In fact, I contacted Larry Kudlow’s production crew in May 2007, as well as several times thereafter and heard nothing.
This man is a complete idiot. He doesn’t even have an economics degree and he claims to be an economist.
Then again, most economists with Ph.D’s have no clue what’s going on either so I guess anyone can claim to be an economist since the standards for economics in America are dreadful.
For some, performance-enhancing drugs go beyond steroids.
Larry, your best days were when you were snorting cocaine.
Maybe you should start back up again; that is, if you ever quit.
That’s right. Most of you probably didn’t know about Kudlow’s expensive habit back in the days when he was at Bear Stearns.
The reason you don’t know about it is because you don’t bother to check track records. You’re sheep. Just admit it and correct your faults.
Alternatively, you can make it easier on yourself if you accept the fact that ALL people on the financial networks are there to mislead you.
You should have learned your lesson from the dotcom collapse. If you don’t stop watching this trash, ill guarantee you’ll get burned during the next collapse.
What About Peter “Doom”?
But “hold on,” you might be thinking… “They aired Peter Schiff.”
Yes of course they did because Peter is part of the club. I’ll talk more about what this club is and how they work in Part 2.
You need to understand that anyone who makes a career being on television isn’t going to know what’s going on in the economy or stock market.
You can’t do both. You are either spending all of your time researching and analyzing the economy and stock market or you’re in production rehearsing your show.
This also includes guys like Peter Schiff.
That might explain why his clients haven’t fared so well.
Peter has become a media ham and apparently he realizes this because he now writes about mainstream media drama like what Rush Limbaugh is saying.
When will Peter make comments about Britney Spears?
Give me a break.
People who have been predicting doom for a decade really have no credibility, especially when their doom story is a way to get you to buy gold or invest with them.
If you haven’t figured it out by now, extremists are never good for your investments.
However, a perma-bear is worse for your portfolio than a perma-bull since the stock market eventually goes up.
Real experts don’t spend most of their time marketing.
But marketers do because they are looking to make easy money from the sheep.
Real experts know when to hold, and when to fold.
They know when to recognize when the tide turns.
But Peter serves a clear purpose for the media.
He allows them to make fun of him for entertainment purposes.
As well, Peter knows well the rules of the media game.
He cannot insist the banking executives be stripped of all compensation since 2002 and sent to prison.
The financial media wouldn’t have that because they want to protect their paychecks.
Peter is all too happy to play by the rules. By playing by the rules, he becomes a regular and can promote his firm to the sheep. As we all know, sheep always get slaughtered.
Maybe if Peter spent more time doing research and less time with cheeseball marketing, he might actually have a clue what’s going on. And some of his clients might have actually not gotten blown out.
Yet, he actually has many people fooled.
This is a man who boasts how he was right when the facts show he was very wrong.
And his clients are paying the price.
He has hundreds of self-promoting YouTube videos and even a Facebook fan club. Most likely, those in his fan club aren’t his clients.
This is a man who now leverages his daily TV interviews to pump out useless books which he doesn’t even write. I’d say he is going to need the money for client lawsuits.
In the end, Peter only cares about Peter’s bank account. He is no different than Wall Street or the media. The same applies to every guest on CNBC.
If they are invited as a guest on CNBC it’s because they have agreed to play by the rules. And those rules ultimately screw the viewers in one way or another.
In the end, YOU got screwed if you watch CNBC.
Perhaps the only difference between Schiff and the CNBC clowns is the he's a likable guy. He seems like a nice man and he certainly tells good stories. And I certainly have no reason to suggest he is of low moral character like the guys on CNBC. He's certainly more ahead of the curve than these Wall Street hacks. But that really doesn't say much now does it.
As long as Schiff is the only guy the media airs who opposes the Wall Street agenda, people will view him as a "hero" because they aren't aware of others out there such as myself, who have superior track records, are not perma-bears and who are committed to speaking the truth.
In the end, Peter is just trying to generate business, as is CNBC.
There's certainly nothing wrong with that.
But you need to understand where their interests truly lie in order to assess their credibility.
More important, you need to research the track records of those you plan to trust. In my view, you're best not to listen to anyone on TV or other mainstream media venues.
I certainly don't.
What do all of these guys have in common (other than dishonesty and/or stupidity)?
They are all Jewish. And if you think that just so happens to be a coincidence, you're naive. More on this at a later time.
For Part 2, click here.