Charlie Munger: The Ass Sitting Investing (Sell Only After 20 Years!)

Charlie Munger shares his view about Costco that he likes so much to hold for a long time. He believes that it would make a massive returns after a few years.
'Prepare Now, Huge Inflation is Coming...' - Jim Rogers' Final WARNING
• 'Prepare Now, Huge Inf...
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Charlie Munger: The Ass Sitting Investing (Sell Only After 20 Years!)
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*'Prepare Now, Huge Inflation is Coming...' - Jim Rogers' Final WARNING* ►kzbin.info/www/bejne/lXfQiYWijNuArM0

[@TheSolarScience]

A congressioal committe looking into the last bailout concluded that the “fact that a quasi-government agency, unaccountable to the American people, likely wasted billions of taxpayer dollars and went to great lengths to prevent Congress and the American people from learning about these actions demonstrates the threat that the Federal Reserve poses to basic principles of American democracy." (link below). What did the Federal Reserve do? The Federal Reserve gave $60 TRILLION to AIG in a back door bailout ("naked" credit default swaps) last time. Inflation is spurred by excessive creation of dollars by the Fed. How much is $60 trillion? About $200,000 for every man woman and child in the US. We could have bailed out people and everybody would get $200,000 (family of 4 gets $800,000) Instead .. bankers gave it to bankers .. and the people have to pay back the $60 trillion .. with interest .. to the bankers who robbed us. The Federal Reserve and US Treasury reported that the AIG bailout required $180 billion and yielded a profit of $20 billion. The likely truth is that the AIG bailout resulted in a loss of $59,980 billion and the massive losses were intentionally withheld from disclosure by the Federal Reserve. Extraordinary assertions require extraordinary proof so I start with the evidence. Magnitude of Undisclosed AIG Losses The massive undisclosed losses are detailed in AIG Bailout Oversight Hearing, Panel 1, Oct. 8, 2008. The nature of "naked" (no collateral) credit default swaps and staggering amounts are clearly set forth. kzbin.info/www/bejne/ipC1e2dqltVnZpI Eric Dinalo participated in AIG negotiations as NY State Insurance Superintendent and estimated the “secret” AIG bailout (naked credit default swaps) at $60 TRILLION. Six other participants state similar amounts: Maloney (57), Yarmuth (62), Turner (63), Braley (63), Welch (62), Sarbanes (62 trillion). The troubling nature of the “naked” credit default swaps is also set forth (“essentially gambling”, no collateral, no ownership of asset, no cap relative to asset). These "naked" derivitves clearly provided no return value for the $60 trillion… all .. gone. This amount is impossibly huge that it is compared to the “entire value of the NYSE” and “world economic output for a year” so that there is no mistake as to the magnitude. The absurdity of this amount is glaring when AIG was worth (2008/2009) only $5 billion yet got $60,000 billion in a “bailout". Federal Reserve Intentionally Withheld the $60T Bailout from Disclosure in SEC Filings The “extraordinary” withholding of disclosure is detailed in US House of Representatives, Committee on Oversight and Government Reform, Public Disclosure as a Last Resort: How the Federal Reserve Fought to Cover Up the Details of the AIG Counterparties Bailout from the American People, Special Report, US House, January 25, 2010. republicans-oversight.house.gov/wp-content/uploads/2012/01/20100125aigstaffreportwithcover.pdf When the SEC sought full disclosure of the secret bailout and receiving parties ("counterparties") the FRBNY responded that this “requirement is giving us some pause, since we haven’t otherwise disclosed this information to Congress.” The “FRBNY clearly hoped to prevent Congress from fully understanding the payments to AIG’s counterparties” (pg 13). The Committee concluded that the “fact that a quasi-government agency, unaccountable to the American people, likely wasted billions of taxpayer dollars and went to great lengths to prevent Congress and the American people from learning about these actions demonstrates the threat that the Federal Reserve poses to basic principles of American democracy." see also kzbin.info/www/bejne/eKnQYXSwdsSCgK8 Further facts are found in the AIG shareholder vs. US lawsuits brought for unfair bailout treatment which concluded at the US Supreme Court in 2017. AIG shareholders asserted that, at FRBNY's insistence, the actual SEC filings did not include Schedule A which would have set forth the undisclosed losses. The SEC noted the omission and told AIG that it had to disclose or request confidential treatment. AIG in consultation with FRBNY, filed a confidential treatment request to conceal the $60 trillion from disclosure which the SEC granted. $60 trillion … "secretly" given away … with no return value ("naked" credit default swap). Audit of Federal Reserve The massive losses are also confirmed in the (virtually unreported) first-ever audit of the private Federal Reserve banks. The audit identifies 16 trillion doled out by 2011. GAO, Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance, GAO-11-696. Table 8 (page 131), 2011. In assessing the GAO audit, the Levy Institute estimated the bailout cost to be $29 trillion (Levy Institute, Working Paper No. 698, December 2011, $29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient). Where did the first $29 trillion go? Citigroup: $2.5 trillion, Morgan Stanley: $2.04 trillion, Merrill Lynch: $1.949 trillion, Bank of America: $1.344 trillion, Bear Sterns: $853 billion, Goldman Sachs: $814 billion, Lehman $183 billion, JP Morgan $391 billion. While US homeowners were losing their homes, jobs and businesses … the Federal Reserve gave foreign bank mountains of dollars … Barclays PLC (United Kingdom): $868 billion Royal Bank of Scotland (UK): $541 billion, Deutsche Bank (Germany): $354 billion, UBS (Switzerland): $287 billion, Credit Suisse (Switzerland): $262 billion, Bank of Scotland (United Kingdom): $181 billion, BNP Paribas (France): $175 billion. These amounts account for about half of the AIG bailout (about $30 of $60 trillion). The AIG bailout likely resulted in a loss of $59,980 billion rather than the reported profit of $20 billion. Federal Reserve is the problem and this is how they blew up the dollar Thx for reading