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Jorge
Jorge
15 years ago

Hi all
Is good to but a face in to the voice.

Thanks Jack

Jorge
Jorge
15 years ago

sorry, is put a face in to the voice

Adam
Adam
15 years ago

Jack,

Did I hear you imply anyone invested in a hedge fund is a vampire? If I understood your statement correctly, then this is a ridiculous assertion. Hedge funds are just another part of the financial markets that helps create efficiency. If I heard incorrectly I apologize.

Hedge fund managers were the first people to discover the balance sheet weakness and lies that were put out by businesses like Enron and our broke investment banks like Lehman. They were also some of the only people betting against subprime and telling people these mortgages were worthless.

Are some hedge funds corrupt? Sure. Are there crooks in that area of finance, as in any business? Yes.

But the statement that hedge funds are inherently bad is ridiculous. They are just another piece of market efficiency and frequently do the job our regulators such as the SEC are supposed to be doing.

Adam
Adam
15 years ago

Jack,

I happen to understand the derivatives markets quite well. I understand its a $700 trillion dollar market and that 100-1 leveraged hedge funds are quite likely to cause major economic damage when these “assets” are marked to market.

My point was not the damage that will be inflicted by MBS’s and CDO’s aren’t substantial, but that you cannot blame a genre of businsses and an entire asset class for these problems.

One, this would be a mass generalization as not all hedge funds are at fault and many bet against these loans, helping to point out the flaws in lending.

Two, this was a mania participated in by every commercial bank, investment bank, lender, asset manager, and mutual fund (which you just said you had money in) as well. You are laying the blame on hedge funds rather than on the real culprit which is the fed, terrible monetary policy, and fractional reserve banking, as you should know as a lewrockwell reader.

You are demonizing an asset class as did Obama when some of the hedge funds holding Chrysler debt demanded payment.

Adam
Adam
15 years ago

Either way Jack, I appreciate the show. When I was younger I thought my arm-chair survivalist/pseudo libertarian father was way out there. I’ve since rediscovered libertarianism, and thanks to you I’m starting to rediscover survivalism.

Scott
Scott
15 years ago

I loved this podcast, listening to it for the 3rd time.

Tracy
15 years ago

On a lighter note….Jack…don’t talk with your hands when you are driving! you scare me!

Mike Adams
15 years ago

You can upload your shows on a first class site called \"vueFlix\"(new to me). Hope this helps! Mike Adams