I haven’t been updating The G Manifesto too much lately as I arrived in a new city and have been in “Pipe-Building Mode”. Real successful.
And now, I am just enjoying the fruits of my labor. Girls are exiting out the back door of my building and right after, girls are entering the front door. Pretty sick. Girls flights leaving at 11am and lunch swoops with a different girl at 2pm type sh*t.
I have even had fly Sioux and Pawnee girls creep me in their teepee.
And pushing out all the weesh guys in my way with their “Econo-Spray” game.
My biz prayers were answered today too.
Even white girls from the suburbs are are starting to call me “Mugabi” because I have been such a straight up beast.
Hopefully, I should be dropping some more heavy duty Montreal Sheets soon.
I just listened to it again, and I thought it really deserved its own post.
It is one of the best financial interviews on the web for two reasons.
1. Kyle Bass is a smart cat
2. He masterfully and subtlety slaps around the female interviewer with skill never seen on television.
Some dimes that Bass drops:
“You can’t hate the mirror because you are ugly.” (I may bite this one).
“Capitalism without bankruptcy is like Chritianity without hell.”
“Buying gold is just buying a put against the idiocy of the political cycle. It’s That Simple”
“You know how screwed up Europe is when you have an Italian central banker and a German pope”.
“The only way to quote resolve any problems in Europe is to have massive debt restructuring…
One of the things we’ve said in our office recently is you know how screwed up Europe is when you have a German pope and an Italian central banker. We have a scenario today in which debt has grown globally in the last nine years from $80 trillion to $210 trillion. Global credit market debt has grown at 12% a year for the last nine years, while global GDP has grown at 4. We’re in a scenario where the PIIGS have sailed into a zone of insolvency. When you sail into the zone of insolvency there is no quote solution for you. The bill is due and you have to pay the pill. What has to happen is it is of our opinion that these debts have to be written down, it’s that simple.
Basically you’re saying if Germany goes joint and severally liable with the profligate idiots of southern Europe will that quote solve the scenario? Think about this. Let’s assume Germany goes to doing a eurobond and Germany takes on these… first of all German constitutional court has already ruled that that’s illegal in Germany, but let’s assume that they get over that and they go ahead and issue this bond. What would that do for the profligate members including Greece when Greece says, “OK we’re all in, we’re good, you’re lending us more money, we have a big debt problem and you’re lending us some more and now we can borrow a little cheaper,” and then Greece keeps spending, and they go back to Germany and say, “OK Germany I need some more money.” Germany says, “No, we’re going to impose this real austerity on you now.” Greece says, “Fine, we’ll default.” Every single time from now on Germany is in the exact situation it’s in today. We call it in Texas a Mexican Standoff, meaning there’s no winner. The profligate members will always have Germany by the short hairs every time this scenario comes up. So I disagree. I don’t think that Germany will end up going all in. It would not be to the benefit of Germany to do so in the long run. Let me ask you this question: How many of your relatives would you go joint and severally liable with?”
Marc Faber: Real Estate Investing and Renting Out Rooms To Concubines
Listen to this whole interview or start listening at 2:45
Marc Faber: “I was in Phoenix the other day, and then the taxi driver took me to a nice hotel, The Fairmont, and then he told me about how the person he drove right before me told him that he just bought a 5 bedroom house for $120,000. Where in the world can you buy a 5 bedroom house for $120,000 (good question?).
I would buy it, live in one bedroom and rent out 4 bedrooms to concubines!”
Alright. Stop what your doing, because I’m about to ruin the image and style that your used to.
It is time again for The G Manifesto “Best of 2011” Awards.
Once again, these Awards are places or things that I have been to or experienced in 2011. So don’t get itchy if your local dive bar in Denver or favorite P.F. Wang’s in Poughkeepsie didn’t make the list.
Here are the rest of the Best of 2011, G Manifesto Awards:
Best International Nightlife City: Montreal, Canada. I am in love with this city. I am not sure of too many things, but this I am sure of: I will spend at least two months this summer in Montreal. Honestly, I think I can swoop a fly girl 8 out of 10 nights I go out there. It is probably closer to 10 out of 10, but I don’t want to sound like I am bragging. I almost slit my wrists for not coming sooner.
Honorable Mentions:New York City. I had too much success there in 2011 to leave it out.
Most Overrated US Nightlife City:Los Angeles. California has become a Police State, and Wessyde nightlife has gone down the tubes with it. California nightlife needs a whole new start like a person with a severed arm needs a tourniquet and a shot of tequila.
Best US Nightlife District: Brickell, Miami. Quality of girl is off the charts.
Best US Restaurant for Fly Girls:Cipriani’s. No single restaurant in America holds as many stunners.
Best International Nightclub:Andre Carne de Res, Bogota. I don’t get impressed by nightclubs any more. Well, that’s until I stepped into Andre Carne de Res in Bogota. Place is sicker than a cancer victim.
Best High-Action City:Abidjan , Ivory Coast. It went off the rope earlier this year. I hit a decent Cocoa trade playing the political takeover as well. To be frank though, the time I spent on the horn and researching that trade, it wasn’t that great.
Best Day Game City: Miami Beach. Lincoln road. No question.
Best Beach: El Sardinero, Santander, Spain is more breathtaking than northern California’s coastline. And more striking than La Jolla, California.
Best International Restaurant:La Taberna del Gourmet, Alicante, Spain. The food is so good it made old E-tab and Cocaine buzzes hit me. Seriously, my nose got sweaty while dining here. Ate here three nights straight at one point.
Honorable Mention: Toque and Au Pied Du Cuchon, Montreal. Both these restaurants are straight crack.
Best Trade: The Silver trade. I rode the silver miners up and sold out earlier in the year. And unbelieveably sold out of my paper silver near the top. Super lucky. Now I buy physical on the dips.
Best US Restaurant: Joe’s Stone Crab. Miami Beach’s answer to former G Manifesto “Best of” winner, Galitories. Illmatic. I even got a table on the last day of Stone Crab season with two fly Latinas.
Best International Hotel: Hotel Maria Cristina, San Sebastián, Spain.
Best US Hotel: The Plaza Hotel, NYC.
Worst US Hotel: Shore Club, Miami Beach. Place has slipped. The service is a joke compared to Las Vegas. Place kind of made me edgy. And that is not easy to do.
Quote of The Year:“It’s so crazy. I am in America. The country that I represent, the Red, White and Blue. I make money in America. I feed the American citizens, I feed the people that are less fortunate in America. Even when I make it rain, I am still throwing money to Americans!.”By Floyd Mayweather Jr. at the post Victor Ortiz Fight presser.
That quote would have been hilarious alone as a joke. But the fact that Floyd was dead serious when he said it not only makes it the “quote of the year” it makes it the funniest thing said all year as well.
Best Movie:The Business. Finally a real International Playboy in a movie. Of course, it wasn’t a Hollywood movie, but that is to be expected.
G’s of The Year: Miguel Cotto and Nicolas Berggruen. Cotto is an obvious choice. If you are not familiar with Berggruen, you should be. This guy is the ultimate International Playboy/ Perpetual Traveler. Peep the Data Sheet on the cat:
Long before dabbling with blank-check companies, Berggruen had already made enough money to buy all of the trappings of the ultrarich: a Fifth Avenue apartment in Manhattan, a mansion on a private island near Miami, the Gulfstream IV and artworks by Damien Hirst, Jeff Koons and Andy Warhol. Berggruen says that living amid all of that luxury turned into a burden and didn’t make him happy.
“I understand the human instinct to want to create a nest and possess things, to show them off,” he says. “But for me personally, it became less and less interesting.”
So in 2000, Berggruen sold his houses, put his art collection in storage and gave away or sold most of his possessions, including his car. He says his decision to live a rootless existence wasn’t a means of dodging taxes; he says he pays them in the U.S.
The investor, who signed a pledge promoted by fellow billionaires Warren Buffett and Bill Gates to donate at least half of their wealth, says he’ll give away all of it eventually. “Everything I do now is about growing the pot to have more to give away,” he says.
He has never married and says he is not interested in having children. Berggruen has been photographed at charity and fashion events arm in arm with a series of actresses and models, including Gabriella Wright, a British actress.
Roberts returned from Vietnam to New York with screws and a metal plate in his head — the aftermath of an explosion. By the time he was 20, he was one of New York’s biggest nightclub impresarios, rubbing shoulders with everyone from Jimi Hendrix to John Lennon.
But after a business partner turned up dead and an informant told the police Roberts was involved, he hightailed it to sunny Miami. The year was 1975.
“When I first came to Miami, I wasn’t smuggling: I was like all the other dealers on the street just trying to make a living, and it got to a point where I had so much business that these people just couldn’t supply me,” he says.
That’s when Roberts shifted from being a drug dealer to a drug importer for the Colombian Medellin cartel.
Importing paid well: By the end of 1976, Roberts says he was moving 50 kilos of cocaine worth $500,000 or more a month. Roberts was living it up: He had half a dozen servants, a Porsche, multiple houses, dozens of race horses and friends in high places, including the Colombian drug lord Pablo Escobar.
The U.S. government labeled Roberts the “American Representative” of the Medellin cartel; he became known as “the bearded gringo” on Miami’s streets.
Roberts and a few American partners created a highly advanced drug-smuggling system that included secret airfields, listening posts to eavesdrop on Coast Guard communications, and homing beacons for tracking cocaine shipped by sea.
“We ended up getting, up by Tampa, a 450-acre farm and it was all surrounded by trees and we put two runways in there and we put hangars in for the planes to go in,” Roberts says.
Their drug-smuggling schemes stymied the U.S. government for nearly a decade.
Death came for Jon Roberts, the infamous cocaine cowboy, on Dec. 28 at age 63, after a long battle with cancer. But his public career as a charming monster is just beginning
A true-crime memoir, “American Desperado” (Crown; $28), written with journalist Evan Wright, has just been published. In Hollywood, director Peter Berg and star Mark Wahlberg are developing a movie based on his exploits.
Dying at his ease in Fort Lauderdale in the company of a devoted younger spouse and his 11-year-old son Julian, product of an earlier marriage, was an improbable end for a man who never repudiated his lifelong philosophy that “evil is stronger than good.”
“How many times have I encountered a crooked politician who wants to establish he’s a nice guy, or a killer who wants you to think he’s a good guy at heart,” says Wright. “I was fascinated because here is a guy who has done monstrous things and he’s not trying to portray himself as a nice guy or a victim.”
As Roberts tells Wright in “American Desperado,” “I might be a sociopath. Most of the time I’ve been on this earth I’ve had no regard for human life. That’s been the key to my success.”
If “American Desperado” is to be believed, Jon Roberts beat people to death in New York, skinned enemy POWs alive in Vietnam, and helped a future CIA agent murder famed mobster Meyer Lansky’s stepson in Miami – with Lansky’s approval.
Roberts first came to national attention as one of the stars of “Cocaine Cowboys,” a Miami-produced documentary that was a surprise hit in 2006. The film details the early 1980s, when Miami became a nearly lawless place awash in cocaine, violence and corruption.
As an American representative of the Medellin Cartel, Roberts helped import some $2 billion worth of cocaine into South Florida, working with infamous figures like Albert San Pedro, Pablo Escobar, Bobby Seal, Max Mermelstein and Bobby Erra.
“He’s a killer,” says Wright, author of the acclaimed Iraq War book, “Generation Kill.” “The notion that Jon is a monster because he kills people doesn’t disqualify a person in my code of life. He’s a killer — let’s move on from there. Let’s find out more.”
Last night, I spoke to Roberts’ smuggling partner and costar in Cocaine Cowboys, the laid-back and quirky Mickey Munday, with whom he had epic disagreements. The last time Munday saw Roberts, he recalls, was at a Miami restaurant with Peter Berg — where the cancer-stricken old criminal vowed to kill Munday before he kicked the bucket: “Before I go, I’m going to get you.”
“I told him: ‘If I had a bucket list, I might put that blonde over there on it,'” Munday says. “‘But not whacking somebody who’s known me for 25 years.'”
“I always thought that he would beat this, I really did,” Munday told me. “If anybody could, it was him, because he’s the meanest son of a bitch I knew. If cancer could get to him it could get to anybody.”
Munday later texted me, referring to Roberts’ nemesis Mermelstein, who also died of cancer: “I hope Jon is kicking Max from one end of Hell to the other.”
With his usual holiday cheer Marc Faber’s most recent interview had him slamming the derivative markets. In an interview with Reuters he went over his predictions for 2012 which calls for more monetary easing, QE 3 etc. He also continues to worry about the growing EU sovereign debt crisis and the lack of real solutions. This was confirmed today after the ECB announced more banks than previously known tapped liquidity lines to the tune of $600 billion.
Of course his long-term views are decidedly bearish. He thinks people in 5 years time will have maybe 50% of their money. This wealth loss will be due to either equity collapses or inflationary pressures due to monetary easing. Obviously political solutions are out of the question at this point. One can look at the US government and see utter dysfunction. The GOP led house has refused to extend a tax cut due to lobbyist pressures on certain pet projects. Then in the EU you have France and the UK with increasingly cold diplomatic relations.
“I am convinced the whole derivatives market will cease to exit. Will become zero. And when it happens I don’t know: you can postpone the problems with monetary measures for a long time but you can’t solve them… Greece should have defaulted – it would have sent a message that not all derivatives are equal because it depends on the counterparty.”
Looks like 2012 is shaping up to be another interesting year. The Mayans may be wrong about the end of the world, but if Marc Faber is right we won’t be able to tell the difference.
Jim Rogers thinks Marc Faber has got it wrong about China, when he says the country is possibly headed for a hard landing, which would lead to a devastating impact on commodities around the world.
“Marc still does not understand China. There are going to be several hard landings in the next few years, but China’s will be less hard overall than others such as Greece, U.S., et al,” Rogers told CNBC in an email.
Rogers says some parts of China’s economy will have a “hard landing” but other parts will continue to boom. He says the commodity market will have a correction, but rebutted Faber’s view that it would be devastating.
“Yes, there will be consolidations in the commodity bull market just as all markets have consolidations,” he said. “In 1987, stocks declined 40-80 percent worldwide, but it was not the end of the secular bull market in stocks.”
Rogers said he was still long commodities, adding that gold went up 600 percent in the 1970s and then corrected by 50 percent scaring a lot of people. “It then continued its secular bull market and rose 850 percent. Corrections are the normal way of all markets.”
According to Faber, Rogers’ bullish call on commodities is misplaced. “If I was always bullish about commodities and completely missed out on the crash in 2008, then obviously, having tied essentially my reputation to commodities, I’d continue to be bullish,” Faber said.
But Rogers said Faber had got it wrong when it came to his call in 2008. “I proclaimed repeatedly far and wide that one should not buy commodities in the run up phase. I also explained that I was not selling mine since we were [and are] in a secular bull market,” Rogers said.
“I explained that my shorts of Citibank, Fannie Mae, all the investment banks and homebuilders, plus my long position in the Japanese yen would protect me in any sell-offs. When one’s shorts decline 90-100 percent, it is a good year even when one’s longs decline,” Rogers added.
According to Rogers, Faber is the one who has made many wrong calls, arguing that he “totally missed” the secular bull market in commodities that began in early 1999.
“Also back in those days, he and his friends proclaimed often that China was a mess and would continue to be so,” Rogers said. “They all were wildly excited about Russia. Some of his friends even left China to start operations in Russia. We all know how that resulted.”
Mr Rogers, the respected currency trader and hedge fund pioneer, cautioned that when the downturn takes hold “the world is going to be in worse shape because the world has shot all its bullets.”
Speaking in an interview with business television channel CNBC, the septuagenarian investor said that “since the beginning of time” there has been a recession every four-to-six years, and that’s mean another one is due around 2012.
However, he said that due to the extraordinary measures already adopted by central banks and governments around the world, the arsenal of available tools to combat the next recession is somewhat lacking.
With reference to Ben Bernanke, chairman of the US Federal Reserve, he said: “Is Mr Bernanke going to print more money than he already has? No, the world would run out of trees.”
Meanwhile, Robert Shiller, co-creator of the Standard & Poor’s/Case-Shiller house price index, warned that the next downturn may come even sooner.
“For me a double-dip is another recession before we’ve healed from this recession. The probability of that kind of double-dip is more than 50pc. I actually expect it,” he said. His prediction came despite the S&P/Case-Shiller index for May showing a 4.6pc year-on-year increase in house prices in 20 major US conurbations.