• Sprott Money
    04/29/2016 - 05:58
    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

Santelli: "There Has To Be An Endgame To Insanity"

Tyler Durden's picture


The 'deal' didn't surprise CNBC's Rick Santelli as he notes the administration did the "easy thing" once again. However, he does think the coming battle in 6-8 weeks regarding the debt ceiling will be surprising to many and believes "there has to be an endgame to insanity." Rick's rightly cynical perspective on the euphoric opening gap today in stocks and bonds (and questioning the veracity of manipulated 'market' prices) appears as frustrating to him as "watching politicians all slap each other on the back while the country slips into a Grecian like formula."

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Wed, 01/02/2013 - 13:03 | 3115088 sgt_doom
sgt_doom's picture

Walla, you do realize that Wright Patman was the greatest populist to ever come out of Texas, and that the anti-worker Ron Paul isn't a true populist, but a poser and an imposter, on the side of Wall Street, he's simply co-opted the traditional antipathy towards the banksters' front window, the Federal Reserve?

Or are you another illiterate?

Wed, 01/02/2013 - 12:53 | 3115051 Caviar Emptor
Caviar Emptor's picture

Crazy... like foxes. The status quo has been maintained, the dirty little deals got done, Congress got a pay raise, payroll taxes are going up, federal programs are going to get cut. Happy New Year

Wed, 01/02/2013 - 12:54 | 3115054 jubber
jubber's picture

The bit after Santelli is also very good


Wed, 01/02/2013 - 13:52 | 3115276 OneTinSoldier66
OneTinSoldier66's picture

Yep, I liked that guy, Doug Dachille. He talked plainly about there is no longer any market feedback in terms of yield/prices.

Wed, 01/02/2013 - 12:54 | 3115055 Chuck Walla
Chuck Walla's picture

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”


~ Vladimir Lenin



Wed, 01/02/2013 - 12:57 | 3115065 muppet_master
muppet_master's picture


spx @ 1451...hurry it was @ 1458...hurrry..b4 they dump it to sub 1300....don't u know the joys of buying high....

just like in 4-2012 spx @ 1415...they CHEERED YOU !!! then 6-2012 spx @ 1274..i know I covered shorts and went long...under guidance of the shoe shines boys bc they were bearish @ 1274....AND bullish @ 1415...thanks shoe shine boys (cbs-mw)

just like on QE3 NEWS !!! spx @ 1474 next day...then drop to 1343

just like on QE4 NES !! spx @ 1447 day b4 news...then drop to 1398

BUY HIGH NOW...spx 1450+ then drop to sub 1300....b4 next dead cat bounce.....and then super massive drops ahead.....

muppets ur supposed to buy high.

Wed, 01/02/2013 - 13:09 | 3115105 muppet_master
muppet_master's picture

i remember 4-2012

cbs-mw (kate gibson stupid "reporter" = cheerleader) was teling you @ spx 1405 (b4 TOP the next day @ 1415)...that:

"just like lotto ticket buyers...YOU HAD NO CHANCE OF MAKING $$$$ if YOU DON'T GO LONG STOCKS"

and what did ZH say:...ZH copied that headline page...and said: "cbs-mw goes full retard" = me go full SHORT !!!! LOL !!!!!!

come on muppets, go FULL "LONG"...ROFLMAO !!!

Wed, 01/02/2013 - 13:20 | 3115145 walküre
walküre's picture

I have to admit, the bullshit meter is pegged sky high today.

Irrational Exuberance on every channel and across the globe. VIX crushed, weak shorts getting blow torched.

Their media is making the propaganda to benefit them. The big boyz are selling into this rally.

Wed, 01/02/2013 - 12:55 | 3115067 Crassus
Crassus's picture

Why? If 51% are diagnosed as bipolar then the other 49% will be medicated for monopolar disorder.

Wed, 01/02/2013 - 13:35 | 3115107 sitenine
sitenine's picture

Correct. The tyranny of the majority has you.

Wed, 01/02/2013 - 12:57 | 3115068 Tortfeasor
Tortfeasor's picture

The game ends when you're dead.

Wed, 01/02/2013 - 13:19 | 3115141 CaptianSpaulding
CaptianSpaulding's picture

" To die, To be really dead. That must be glorious"

                                 Universal's 1931 Dracula



Wed, 01/02/2013 - 12:58 | 3115074 azzhatter
azzhatter's picture

That douchebag Sorkin dreams of getting Obama's cock in his mouth every night. He usually has to settle for a lesser throw away from Cramer or Kernan but no doubt he is sucking a lot of cock to get on TV with the big boys

Wed, 01/02/2013 - 13:18 | 3115138 yogibear
yogibear's picture

Sorkin is like  a young Joe Kernan. All boot lickers with no backbone. Their sickening.

Wed, 01/02/2013 - 12:58 | 3115077 Irelevant
Irelevant's picture


Wed, 01/02/2013 - 12:59 | 3115080 lunaticfringe
lunaticfringe's picture

We may never see the end. Like Japan. So no, we don't dictate the timing, Rick. It has already gone on longer than anyone thought possible. Why not longer? Boehner tells Reid to go fuck himself and other precious moments...http://thecivillibertarian.blogspot.com/2013/01/and-then-boehner-saysgo-...

Wed, 01/02/2013 - 13:02 | 3115086 Boilermaker
Boilermaker's picture

There does NOT have to be an end to the insanity.  As long as you can devalue, it's a limitless game.

Wed, 01/02/2013 - 13:08 | 3115104 Dr. Engali
Dr. Engali's picture

There is a limit. Eventually something in the system blows up,and the chaos will ensue.

Wed, 01/02/2013 - 13:40 | 3115226 XitSam
XitSam's picture

Chaos does not preclude insanity.

Wed, 01/02/2013 - 13:03 | 3115089 10044
10044's picture

End game: dow 5000, gold 10000
There you have it

Wed, 01/02/2013 - 13:42 | 3115235 retiringteach
retiringteach's picture

typical zh fool-dow easy doulble while gold below 1000-play the game as it is-not the way you dream it should be

Wed, 01/02/2013 - 16:52 | 3116080 Shell Game
Shell Game's picture

Play the game, lose your soul....


Wed, 01/02/2013 - 13:04 | 3115091 azzhatter
azzhatter's picture

But at least Oiamadouchebagfucktard is back in Hawaii.

Wed, 01/02/2013 - 13:14 | 3115125 yogibear
yogibear's picture

LOL, he would have pulled a Mark Zuckerberg (ringing the bell remotely) and signed from Hawaii otherwise. 

How many thousands of gallons of fuel did he blow just to come in and force the republicans to sign?

Wed, 01/02/2013 - 13:06 | 3115099 CaptianSpaulding
CaptianSpaulding's picture

Ooops, The video is not working. What is that big arrow in the center of the video. Am i supposed to press that?

Wed, 01/02/2013 - 13:10 | 3115109 yogibear
yogibear's picture

Santelli has to get used to infinite debt, printing and spending. It goes on until market forces say otherwise.

Wed, 01/02/2013 - 13:26 | 3115159 LawsofPhysics
LawsofPhysics's picture

"It goes on until the supply lines for essential goods and services breaks." - fixed.  We have been here before, hedge accordingly.

Wed, 01/02/2013 - 13:11 | 3115113 Anasteus
Anasteus's picture

An endgame of insanity... of what sort? The insanity of the irresponsible monetary policy, or of the supportive collaboration of bankers and politicians to keep it running? Or of the scared, greedy Congress and government members failing to pursue the liberty values for people they represent? Or of the corrupt media and their complicity in fabricating the bright tomorrows? Or of the justice sweeping problematic cases under the carpet? Or of the thankful people audience happy with bread and circuses?

Tough questions.

Wed, 01/02/2013 - 13:13 | 3115121 LawsofPhysics
LawsofPhysics's picture

Nothing "has to be" anything, what a dumbass crybaby.  The "endgame" will be exactly as it was the last time a country with a strong military was taken over by a corrupt fascist few.  Wake the fuck up, there is no "market" and the fascists really beleive that they can "set" prices and control all "capital".  The world has seen this before people, hedge accordingly.

Wed, 01/02/2013 - 13:15 | 3115131 linrom
linrom's picture

This is insanity!

Insanity is paying off debts that are created out of 'thin air'.

Workers make goods and provide services and get into debt to buy the very same goods and services.

Bankers colletct fees and interest on money made from air. Job creators collect profits for nothing on things made by people with skills to produce them.


Wed, 01/02/2013 - 13:28 | 3115174 walküre
walküre's picture

We're top heavy and getting heavier. What differentiates us from Japan and the Japanese? Why did the Japanese people play along for so many years? The Japanese working stiff is getting screwed just as our working stiff. There's no hope, no chance to ever get out from under the debt burden that benefits the elite. It is oppressive and it doesn't feel any better or taste any different now than it did in the 18th century. A self made and self proclaimed elite is ruling and oppressing the majority of people who are working day and night to keep the system going that is unsustainable and unfair. It's fucked up to realize that nothing has changed in the big picture. We have slaves, we have subjects (state debt prisoners) and we have royals.

Wed, 01/02/2013 - 13:56 | 3115294 LawsofPhysics
LawsofPhysics's picture

"We have slaves, we have subjects (state debt prisoners) and we have royals." - Correct, but the royals have different allegences and they still need to exchange something with each other and those slaves in order to get something of real value in return.  Even the slave that built the pyramids received the equivalent of two pitchers of a very hearty beer/wheatmeal for a day of their labor.

Things get interesting when the world realizes that those paper promises aren't worth shit and the supply lines break.  Not before.  Same as it ever was.

Wed, 01/02/2013 - 14:09 | 3115376 walküre
walküre's picture

I think the world knows full well that it's all bullshit. The only real game-changing challengers are the Chinese. Just like the Germans in the last century.

Wed, 01/02/2013 - 14:41 | 3115495 LawsofPhysics
LawsofPhysics's picture

Economically, the Chinese are positioned nothing like the Germans were.  I don't see their currency anywhere near collapse.  They are a net creditor right now.  Of course, since all  the economic numbers are now being fudged and all the paper promises are essentially bullshit wouldn't the entire world be like Germany in the 1930's?   China, might be like Germany from a manufacturing standpoint, but that is about it and they have considerably more mouths to feed. 

Wed, 01/02/2013 - 15:20 | 3115646 walküre
walküre's picture

China is the number one threat to US economic survival and challenging the USD as reserve currency. Germany was the cradle of innovation and a threat to US military hegemony as well as economic expansion into Africa and Asia. The US won the race against Germany in securing cheap oil and other resources. The US will not succeed in finishing China off the same way it finished Germany.

Wed, 01/02/2013 - 17:04 | 3116143 LawsofPhysics
LawsofPhysics's picture

Right, because the chinese are so transparent.  Try again.  Unless of course China is willing to part with gold in exchange for my soybeans, then I say bring it.  


All paper promises are burning  it matters not who made them.

Wed, 01/02/2013 - 14:58 | 3115537 epwpixieq-1
epwpixieq-1's picture

"There is a difference between knowing the path and walking the path" - as a famous saying goes.

Some big players know/realize, but they have to play because they sit on the table, and want to stay there as long as they can. They will try some change but still will obey the rules of the game, till the moment when their own people either throw them out via drastic social changes termed (usually ) revolution, provoked by the sustainability/injustice in their daily lives, or they stop playing/get out of the table, in order to survive in their own local habitat.

This is growing, have patience and prepare, you still probably have 2-3 years.

Take look at that for an interesting time frame: http://energybulletin.net/stories/2012-12-21/the-great-oil-swindle-why-t...

Wed, 01/02/2013 - 15:27 | 3115692 walküre
walküre's picture

I've been preparing for a number of years already. When oil is no longer affordable and alternatives are non-existent, it is game over for the masses. The masses who came to be simply because of this age of oil.

There's no political leadership and we're supposed to respect these assclowns who are fudging numbers and who keep lying to us that they will have solutions to the real big problems going forward? They're all useless actors.

Wed, 01/02/2013 - 13:31 | 3115187 GreatUncle
GreatUncle's picture

I don't think it was the easiest thing to do but more like the only option left that was already on the cards before any negotiation began. They are not quite prepared for the endgame to start yet.

Think there is an endgame though, "secure the banks / institutions" because that is where those who have the most to lose would then suffer. You can then pull the QE plug because the banks and all the money they are holding has now been made secure.

This does not include the ordinary people though who will be left to fend for themselves financially.

PS If there is no endgame, then it would mean QE forever and all the QE currently being added into the system does not deal with the problem it just buys time. Buy time for what? For the securing of the places where the worth of those more important is being held of course.

Think it is obvious myself and one day QE will stop and the real endgame then starts.

Wed, 01/02/2013 - 13:32 | 3115195 marcusfenix
marcusfenix's picture

I think we should start a pool, the end is extremely nigh anyways and there is no way this crippled, terminally ill wreckcovery on hopeium in FRB hospice makes it another year. if this "deal" doesn't make that painfully clear than the upcoming debt cap drama will.

PM's only to get in, no cash for obvious reasons, guns and ammo ok but i wouldn't advise risking them, cause who knows how much longer before we become domestic terrorist extremist law breakers just for owing one.

anyways, closest to the date when the bottom falls out on the dow and martial law is declared wins, if more than one person picks the right date or the closest one the pot is split, or the tie breaker can be who calls the date of the first government approved drone bombing inside the US... though that may have already happened in Indiana.

who's in? 

Wed, 01/02/2013 - 13:35 | 3115211 the grateful un...
the grateful unemployed's picture

i see Disney wants to release three more Star Wars movies, and that implies economic growth, even if no one watches them (or perhaps they are marketed to children who are unfamiliar with the brand) the idea is brought to mind by another article suggesting new (and even more obsessive infrastructure stimulus) made me think what if there were three bridges over every river in America? the government then privatizes the highway system, and you allow producers to decide how much to charge for their toll road, and you allow consumers to choose which one they prefer, based on condition, cost, and amount of traffic. what if instead of making one Star Wars movie you made three, each similar, but different?

i think i'm getting the feel for this insanity thing, and i like it

Wed, 01/02/2013 - 13:38 | 3115220 Shizzmoney
Shizzmoney's picture

With this fiscal deal, Congress continues to honor the perverse American tradition of rewarding income from wealth more than income from work.

And lest corporations feel left out of the New Year’s Eve party for the rich — Congress snuck 31 corporate tax breaks into the bill, including two pernicious provisions called the Active Financing Exception and the Controlled Foreign Corporation Look-Through, which helps companies like General Electric and Apple avoid billions of dollars in U.S. corporate income taxes.


Wed, 01/02/2013 - 13:39 | 3115224 the grateful un...
the grateful unemployed's picture

concerning GE? what's another tax break when you already don't pay taxes??

Wed, 01/02/2013 - 13:39 | 3115227 Rusty Shorts
Rusty Shorts's picture

...do the same thing again!....do the same thing again!...do the same thing again!...till it works...aaaaaaarrrrggghhh

Wed, 01/02/2013 - 13:43 | 3115240 Shizzmoney
Shizzmoney's picture

I love how this goes back to the price of Treasuries.....which are manipulated, in the first place.

BTW, the Congressman who own Treasuries like Eric Cantor, can short-n-ship when they wish.  Back not cooperating and being an asshole about it, he MAKES money. 

It's all bullshit.

Wed, 01/02/2013 - 13:45 | 3115246 larz
larz's picture

Dont forget the government worker is well cacooned in the 0.1 per cent.  They have NO idea what exists outside their Phd theories spewed forth by Dr Bernank and other Ivy League snobs there is no grasp of reality and wont be until its in their face as a revolution or other such reset. Dont expect anything else, to them a Greek style cluster fuck is ok cuz status quo 'survives'  I for one would love to see reset asap

Wed, 01/02/2013 - 13:59 | 3115313 LawsofPhysics
LawsofPhysics's picture

What is the average salary for a government employee again?  You really think that federal and state employees are paid what the Bernanke is paid?  LMFAO!!!

Moreover, Bernanke works for The Federal Reserve, which is a private bank.  What a dumb motherfucker you are.

Wed, 01/02/2013 - 14:24 | 3115436 AynRandFan
AynRandFan's picture

22% of federal workers make over $100,000.

Wed, 01/02/2013 - 14:45 | 3115502 LawsofPhysics
LawsofPhysics's picture

Right, and now compare that to income of someone in the 0.1% (greater than $750,000).  $100,000 is a far cry from $750,000 dipshit.  Moreover, that is for only 22% of federal workers, what is the fucking average for 100%?!?!?!?  I would be willing to bet that it is nowhere near even $500,000 dollars.

Wed, 01/02/2013 - 16:45 | 3116040 RKDS
RKDS's picture

You can always spot the low information voters when they start repeating the same old talking points about what they think public employees do and earn.

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