Former Mob Boss Tells CNBC Not To Trust Wall Street… Buy Physical Gold & Silver

 Crime Boss: Wall Street Has No Ethics.

The Colombo crime family’s former boss – Michael Franzese – says even he doesn’t trust Wall Street.

Franzese – played by Joseph Bono in the 1990 Martin Scorsese movie “GoodFellas” – spent 10 years in prison after he was convicted on federal racketeering charges.

When he was 35, Franzese ranked No. 8 on Fortune Magazine’s list of the 50 most wealthy and powerful mafia bosses (44 of those on the list are now dead, and three are doing life in prison without parole). He reportedly raked in up to $8 million a week. Franzese is the only surviving high-ranking member of a major crime family to publicly walk away and refuse protective custody.

Franzese told CNBC:

I did a lot of things at times with people on Wall Street….

…. A lot of [Wall Street] 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.

….. No matter what, it’s [i.e. physical gold and silver] always going to have a value.

….. Unlike stocks, where in our country, you go to sleep, everyone tells you everything is wonderful, you wake up and everything is gone.

Other crooks – like Bernie Madoff – have confirmed that the big banks are crooked.

Wall Street learned some of its cons from the Mafia. And some Mafioso conquered Wall Street. But as some of the biggest organized crime kingpins have noted, Wall Street is the big time (mob boss Meyer Lansky – after hearing about Wall Street banking – reportedly said: “I’m in the wrong business”).

Wall Street is committing massive crimes on a systematic basis. And Wall Street banks are the biggest looters around.

Wall Street cons include charging “storage fees” to store gold bullion … without even buying or storing any gold, raiding allocated gold accounts and pledging the same gold to numerous people.

Physical gold is different from paper gold.

Article courtesy of Washington’s Blog.  Original article can be found HERE


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13 Comments on "Former Mob Boss Tells CNBC Not To Trust Wall Street… Buy Physical Gold & Silver"

  1. Question. What is the difference between organized crime, Wall Street Banksters, led by you know who, and the Federal Government?
    Answer. Almost no difference. The main differences is the government operates under the color of law and has killed far more people on it’s 70 year imperial rampage.

    • All are jews.

      Meyer Lansky was a jew and his daughter is now a high ranking official in israel.

      Everything you think, do and say is filtered through the jewish history, media, and attitude.

      • Except for the Mafia and the Vatican, which is all Italian Christian, and the Islamic oil sheikhs….

  2. Educate your youngsters; buy phyz every now and then, like every month. Save in pm’s, through generations. The beheading of the syndicate will be done by the next syndicate.

    • houtskool,

      Couldn’t agree more. Hell, I’m an Italian from New York. When I was a kid, I would sit next to my Grandfather at the head of the table. On Sundays, we would have something like 20-25 family members over for a spaghetti dinner.

      Kind of ironic to see a former Mob Boss say Wall Street aren’t to be trusted….LOL.


  3. Where’s the paid trolls on this one???

    • dom,

      That’s a good question. I have been lucky lately.. haven’t had many of those fine upstanding characters at this site.


  4. thank you for the off the wall things you show us.

    • lakemike49,

      Even though I like to focus on how ENERGY impacts the precious metals, mining and overall economy, this sort of material is priceless. I like to change it up and keep things interesting. Nothing like an EX-MOB telling CNBC that he doesn’t trust Wall Street.

      You got to give a guy credit for leaving the Mob and being one of the 6 out of 50 that is still alive…LOL.


  5. Grandson asked what to major in at univ,,,,,,,,,,,,,,,,,I said Mafia,,that way you only have 2 choices,,,,,,PUBLIC,or PRIVATE. trav

  6. One of the best interviews I’ve seen on CNBC and unfortunately I’ve seen a lot. Franzese comes across as direct, honest and wise. Traits which are not found on the typical corporate hacks and pundit whack jobs. You know things are bad when a boss of the Columbo family looks refreshingly appealing. On second thought it makes a lot of sense. What this country needs is some honest crooks running da show. Yeah, good luck with that one.

    GA Mule

    • GA Mule,

      I couldn’t agree with you more. Franzese realizes something is very wrong with the system and understands the ability for gold and silver to protect wealth. It’s really that easy. I don’t know why we are starting to see some precious metal investors become bearish on their investments. This was never going to be easy.

      Just goes to show you the FICKLE nature of the investing public.


      • Outlookingin | August 23, 2014 at 8:24 am |

        “precious metal investors”

        These are nothing more than speculators. Hoping for a quick flip and a buck.

        “the ability for gold and silver to protect wealth”

        Unlike speculators (investors) those who completely understand that the ownership of physical gold and silver, are wealth ‘insurance’ (protection) hold their insurance/protection for generational terms.

        This is how the worlds ultra wealthy families preserve their wealth over a long time period. NEVER “spend” the principal. ALWAYS use it as collateral for the acquisition of rare art/ wine, real estate, jewels, and “playing” winners on Wall street.

Comments are closed.