Mob boss calls a stock bubble

Discussion in 'YouTube Digest' started by mako, Aug 29, 2014.

  1. mako

    mako New Member

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    http://www.cnbc.com/id/101932292


    Former mob boss Michael Franzese thinks investors should avoid the U.S. stock market, but should you take his investment advice?

    "There's a bubble there that's going to burst at some point and when it does it's not going to be good," Franzese, a former mob boss for the Colombo crime family in New York who has become an author and motivational speaker, told CNBC.

    It's not just the valuations. He's got another reason for advising investors to keep their money off Wall Street.

    Read More Organized crime: World's most lucrative criminal activities

    "I did a lot of things at times with people on Wall Street," said Franzese, who believes there is still a contract out on his life. "A lot of guys are shady and they did shady things with me and I don't trust them. And I don't like other people that I don't know really well taking care of my money. I think that I can do it better."
    Michael Franzese, a former Colombo Family Capo
    Jerritt Clark | WireImage | Getty Images
    Michael Franzese, a former Colombo Family Capo

    He advises investing in gold and silver, but if you're thinking about the exchange-traded funds, fuggedaboutit. He likes physical bars.
     
  2. House

    House Well-Known Member Silver Stacker

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    ETFs?

    [youtube]http://www.youtube.com/watch?v=J5Xu9UcOdj0[/youtube]
     
  3. JulieW

    JulieW Well-Known Member Silver Stacker

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    [youtube]http://www.youtube.com/watch?v=ZD3y43cyddI[/youtube]

    note: 32 sec mark.

    Great film.
     
  4. lshallperish

    lshallperish New Member

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    He has a point man, these stock's are breaking records on prices and the economy is shit as it is so how is it making record highs if everything is sinking? lol

    Make the stock's high so everyone can think it's bullish and make more people put more money into stocks than crash it and take the profits lol < thats what I would do if I had the power to change the numbers of the stock price etc etc
     

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