Sunday, August 24, 2014

"Former Mafia Boss Tells CNBC: 'Stocks Are In A Bubble, Buy Physical Gold"'

Reminiscent of Al Capone's:

"It's a racket," he said. "Those stock market guys are crooked."
-transcript, American Experience, The Crash of 1929
Via ZeroHedge:
Michael Franzese, a former mob boss for the Colombo crime family in New York (and GoodFellas character), told CNBC, "there's a bubble there that's going to burst at some point and when it does it's not going to be good," but there is another reason he says investors should avoid the U.S. stock market - "I did a lot of things at times with people on Wall Street.. a lot of guys are shady and they did shady things with me and I don't trust them....