Rick Santelli: Paper Gold…Game, Set, Match!

paper goldRick Santelli today gave an EPIC RANT on the difference between physical gold and paper liabilities commonly traded on commodities exchanges.

I don’t even look at gold as gold anymore since they securitized it. If things went badly in the world that I used to observe as a gold bug; the gold would end up in the hands of the gold bugs. If things go badly now, they’re going to end up with checks from ETFs!
Sorry, it’s not the same! The reign of paper gold as the Ayn Rand endgame, to me, that’s over. Game, Set, Match!
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Rick Santelli: “We can’t afford our bills any more… $100 Trillion dollars of unfunded liability… The FED doesn’t have a clue.”

The only CNBC commentator who does have a clue, Rick Santelli, gave another epic rant this morning concerning the fiscal cliff, Federal debt and unfunded liabilities, and the Fed Santelli, sounding like James Grant or Tyler Durden, stated the true fiscal cliff is the $100 Trillion in unfunded liabilities, and stated that The Fed doesn’t have a clue.

Santelli’s full rant below: [Read more...]

Santelli: Congress Isn’t Trying to Fix the Economy, “All They’re After Is Your Bucks!”

CNBC’s Rick Santelli went on another epic rant this morning regarding the rapidly approaching fiscal cliff, sending a HEADS UP!! to the middle class, stating that all they’re after isn’t fixing the economy, it’s your bucks!
Indeed Rick, indeed.

Santelli’s full rant below:

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