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"When You Have Fiat Currency, What Level Of Value Is Real", Santelli Asks

Tyler Durden's picture





 

The rise in energy prices; the surge in food prices; and the march higher in nominal stock market indices - all symptoms of one thing - central bank (or government) policy; and CNBC's Rick Santelli is calling them to task for their two-faced ignorance. "What is the difference between outright currency manipulation versus the collateral damage to one's currency based on central bank programs?" he rhetorically asks, "in my mind, very little, but obviously, in the minds of many leaders of G-7 developed economies, there's a huge distinction." And therein lies the rub. As Japan follows Bernanke's decade-old plan to reflate by literally printing money into existence - just as every other developed fiat currency nation - their argument is that they are fighting deflation - or stimulating growth - when, in fact "The distinction between collateral damage and outright manipulation is absolute malarkey." Now that the currency wars have gone global - no matter what well-placed op-eds will try to convince otherwise - Santelli sums it all up perfectly, "in the end when you don't have a standard and you have printing and fiat currency, what level of value is real?"  

 

We remind those bullish Japanese stocks that the 11% rise in the NKY since the holidays has created 0% wealth for a USD investor thanks to the JPY destruction (beta is 175 NKY points per 1 big figure handle shift in USDJPY) - ask the Zimbabweans how wealthy they felt.

 


 


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Wed, 02/13/2013 - 15:38 | Link to Comment GubbermintWorker
GubbermintWorker's picture

And its not even two ply!

Wed, 02/13/2013 - 15:42 | Link to Comment The Juggernaut
The Juggernaut's picture

Perception and the deadliest army.  Thats all the value you need to be a currency standard.  OH!  And a bunch of stupid people, of course.

Wed, 02/13/2013 - 15:45 | Link to Comment Say What Again
Say What Again's picture

Most of the time, the CNBC videos don't play on my computer.

Error Code VID : 504

Does anyone else have this problem.

Wed, 02/13/2013 - 15:46 | Link to Comment Gypsyducks
Gypsyducks's picture

Sounds more like a blessing to me.

Wed, 02/13/2013 - 15:47 | Link to Comment Gamma735
Gamma735's picture

Yes, I am getting the same error code.

Wed, 02/13/2013 - 16:55 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

Ron Paul's microphone working yet?

Wed, 02/13/2013 - 15:47 | Link to Comment CunnyFunt
CunnyFunt's picture

The video you are trying to access is unfortunately unavailable at the moment.
A message has been sent to our customer care team so that we may fix the problem.
We apologize for any inconvenience.
Error Code VID : 504

 

...

Indeed Santelli isn't allowed to say fiat.

Wed, 02/13/2013 - 15:57 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

I never get that code, now I do.  "Fiat", a dirty word now?

Wed, 02/13/2013 - 16:18 | Link to Comment fourchan
fourchan's picture

are we all completely shocked santellli has finally pointed out the emperior has no clothes? FIAT!

I know i am, he might get rattagened soon.

Wed, 02/13/2013 - 16:37 | Link to Comment NotApplicable
NotApplicable's picture

Thing is, he's the last draw they've got left, so they might as well keep him around while he chronicles their shared demise.

Wed, 02/13/2013 - 16:40 | Link to Comment fourchan
fourchan's picture

i forgot to say, i have never seen a video go down and stay down like this, not even cramer calling the idiots idiots.

Wed, 02/13/2013 - 17:01 | Link to Comment NotApplicable
NotApplicable's picture

It works for me. Though I notice they cut off the video before the end of his segment.

Wed, 02/13/2013 - 17:16 | Link to Comment sodbuster
sodbuster's picture

Indeed Santelli isn't allowed to say fiat.

Yep- fiat is a 4 letter word!

Wed, 02/13/2013 - 15:48 | Link to Comment Westcoastliberal
Westcoastliberal's picture

No it's just u

Wed, 02/13/2013 - 15:58 | Link to Comment Tango in the Blight
Tango in the Blight's picture

I guess your anti-malware software flags them as containing bullshit.

Wed, 02/13/2013 - 17:19 | Link to Comment sodbuster
sodbuster's picture

If that was the case, I'd never be able to load MSN, MW, Bloomberg, CNN, or a host of other news websites- heck, I wouldn't have been able to get any of the Big Zero's SOTU BS!

Wed, 02/13/2013 - 15:59 | Link to Comment zerozulu
zerozulu's picture

This will play.

A US citizen is punidhed for $20 loan. What will be the punishment for $16,000,000,000,000.00

http://www.youtube.com/watch?v=7Fe5Pxk9WoI

 

Wed, 02/13/2013 - 16:01 | Link to Comment azzhatter
azzhatter's picture

I don't allow any CNBC on any of my devices. I do however have a picture of Cramer and LIESman on the bottom of my toilet

Wed, 02/13/2013 - 16:09 | Link to Comment Say What Again
Say What Again's picture

I have a picture of Irina Shayk on the wall in front of my toilet.

My cleaning lady keeps asking why I pee all over the ceiling.

Wed, 02/13/2013 - 17:30 | Link to Comment jayman21
jayman21's picture

To make that picture complete, you gotta add Blythemaster somewhere.

Wed, 02/13/2013 - 17:21 | Link to Comment Cap Matifou
Cap Matifou's picture

no bettering in sight

The video you are trying to access is unfortunately unavailable at the moment.

Wed, 02/13/2013 - 17:55 | Link to Comment 2bit Hoarder
2bit Hoarder's picture

today was the first time for me.  must be obama's new cyber security in action. 

Wed, 02/13/2013 - 18:51 | Link to Comment Ying-Yang
Ying-Yang's picture

The problem was with the plugin-container.exe introduced in version 3.6.4. My Firewall was blocking it. When I added a rule to allow plugin-container-exe to make a connection the problem was resolved.

Wed, 02/13/2013 - 17:23 | Link to Comment DaveyJones
DaveyJones's picture

if it only had modern presidents faces on the paper. Then there'd be a bit of satisfaction wiping me arse 

Wed, 02/13/2013 - 15:39 | Link to Comment larz
larz's picture

or cushy

Wed, 02/13/2013 - 15:41 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

Is Rick allowed to say 'fiat currency' on national TV?

 

The money changers wont like that.

Wed, 02/13/2013 - 15:44 | Link to Comment davidsmith
davidsmith's picture

Ask Valerie Jarrett.  But pass it by Tony.  And oh, by the way, have Alsammarrae take a gander at it, too.

Wed, 02/13/2013 - 15:47 | Link to Comment Joe Davola
Joe Davola's picture

Apparently not, he's been VID code error: 504'd

Wed, 02/13/2013 - 16:03 | Link to Comment Shell Game
Shell Game's picture

Rick is going to find himself relegated to a nice little place online, much like Judge Napolitano did when he spoke the unmentionable on Fox.

Wed, 02/13/2013 - 16:08 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

Bingo, the Judge and Beck were sensored off the air no matter what Fox or anyone else's story is.  Fox was "pressured" to let those two go...

Wed, 02/13/2013 - 17:00 | Link to Comment eddymunster
eddymunster's picture

After all the anti-gun BS on Fox I have a hard time tuning in.

Wed, 02/13/2013 - 16:06 | Link to Comment Tango in the Blight
Tango in the Blight's picture

Most viewers don't even know what fiat currency is. They're just watching to be told what overpriced stocks they should invest in and that they should avoid gold because it's "risky".

Wed, 02/13/2013 - 16:22 | Link to Comment fourchan
fourchan's picture

lol beautifully said.

Wed, 02/13/2013 - 16:28 | Link to Comment Say What Again
Say What Again's picture

They think he's talking about some little POS car.

Wed, 02/13/2013 - 16:40 | Link to Comment NotApplicable
NotApplicable's picture

Well, it's not backed by any other "thing" ya know.

Things are important! Especially abstract things. They're absractly important.

Or so I've been told.

Wed, 02/13/2013 - 18:18 | Link to Comment blindman
blindman's picture

here i repeat a joke often told by armand dimele, wbai radio, etc..
.
albert einstein had a crack in his sidewalk and decided to repair it
and he did, replaced a slab with fresh cement and went back to his study.
later he looked out the window and saw children gathered around his
work and writing with sticks in the wet cement. he went running out screaming
at the children who quickly ran off. when he went back inside, elsa,
his wife and cousin, said "albert, why are you so mean to the children,
you love the children?".. albert said " i love the children in the
abstract, not in the concrete."
.
?

Wed, 02/13/2013 - 15:48 | Link to Comment Cult_of_Reason
Cult_of_Reason's picture

The unemployment problem will be fixed with Fed engineered tulip mania 2.0!

Free markets and price discovery mechanisms are no longer needed.

The monetary Gods at the Fed will decide where asset prices and tulip prices need to be in order for people to feel "wealthy" and spend.

Wed, 02/13/2013 - 15:42 | Link to Comment davidsmith
davidsmith's picture

"When You Have Fiat Currency, What Level Of Value Is Real", Santelli Asks.

 

And the answer is: whatever value the Fuhrer says is real. Next question?

Wed, 02/13/2013 - 16:04 | Link to Comment Al Huxley
Al Huxley's picture

That's what I'm counting on.  I don't have to worry too much about it, our benevolent masters will look after their flock.  If I did think about it, it would be too confusing anyway, like why something that's available in infinite quantity can continually go up in price, like who's lending the government all that money, like why things that are limited in quantity and hard to get go down in price, lots of confusing things in our modern economy.  I'm just glad we have some super-geniuses looking out for us.

Wed, 02/13/2013 - 15:43 | Link to Comment stinkhammer
stinkhammer's picture

paging mr. whipple

Wed, 02/13/2013 - 15:44 | Link to Comment AllWorkedUp
AllWorkedUp's picture

How come there's not an article about Rosenberg's flip flop on Fast Money today? Isn't he ZH's resident bear? WTF?

Wed, 02/13/2013 - 15:56 | Link to Comment SheepDog-One
SheepDog-One's picture

No, that's 'Rosenpenis'....wrong guy.

Wed, 02/13/2013 - 16:41 | Link to Comment NotApplicable
NotApplicable's picture

Did he channel "Balls to the wall" Tepper, by chance?

Wed, 02/13/2013 - 22:46 | Link to Comment Bob Sacamano
Bob Sacamano's picture

Whether Rosenberg is spouting bullish or bearish -- he is not intelligent nor articulate. 

Wed, 02/13/2013 - 15:44 | Link to Comment Water Is Wet
Water Is Wet's picture

"in the end when you don't have a standard and you have printing and fiat currency, what level of value is real?"

Similarly, when bonds outperform stocks on the day, "reality" didn't reassert itself, because what level of value is real?  And when stocks outperform bonds, the markets aren't "ignoring reality" because, again, what level of value is real?

Wed, 02/13/2013 - 15:45 | Link to Comment Chippewa Partners
Chippewa Partners's picture

Isn't a FIAT what old community organizers could afford to drive?    

Wed, 02/13/2013 - 16:44 | Link to Comment NotApplicable
NotApplicable's picture

Yes, indeed.

Why, I can still remember the good ole days when French cars would torch themselves. (Yet another jorb taken by the immigrants)

Wed, 02/13/2013 - 15:48 | Link to Comment Dr. Engali
Dr. Engali's picture

Nothing is real in the matrix Rick...only now you are starting to understand.

Wed, 02/13/2013 - 16:07 | Link to Comment espirit
espirit's picture

The real question is whether Rick really took the red pill...

or is he just faking it?

Wed, 02/13/2013 - 16:45 | Link to Comment NotApplicable
NotApplicable's picture

Well, it's really just an off shade of pink, thanks to the distortion added by Friedman.

Wed, 02/13/2013 - 15:50 | Link to Comment Charles Nelson ...
Charles Nelson Reilly's picture

Can someone wake me up when gold gets monetized at $15k and ounce please.

Wed, 02/13/2013 - 17:00 | Link to Comment xtop23
xtop23's picture

On that note; Jim Sinclair advising his clients it's all-in PM time. I don't suggest going full retard but I found it interesting.

Wed, 02/13/2013 - 17:29 | Link to Comment AllWorkedUp
AllWorkedUp's picture

Didn't know Sinclair had "clients". I find it interesting only because his timing has not been great and "all-in" now might work out 3 months from now but could signal a big smackdown dead ahead.

 I think Sinclair is a good guy but even he admits he's related to the money masters. Gold and gold shares look cheap now but somehow always manage to get alot cheaper before blastoff. He's saying the current correction will be over by March. Unfortunately a ton of damage can be done between now and then. I hope not.

 

Wed, 02/13/2013 - 18:10 | Link to Comment xtop23
xtop23's picture

Point taken, not "clients" per se ( at least not anymore ). Friends? Interested parties? 

Regardless, I wasn't quoting him as a catalyst for buying with both hands or anything. I just thought it interesting and worth passing along.

There's no guarantees but you would think that we made a pretty damn strong bottom at $28-29. I don't think the margin reduction bs they're pulling is going to draw in enough spec money to fuck things as majorly as they did in May '11.

Anything sub $32 and a "dip" has been a green light for me to exchange some fiat.

Wed, 02/13/2013 - 21:10 | Link to Comment AllWorkedUp
AllWorkedUp's picture

Agree with you. This is an area to buy a dip, but the dip might get cheaper. I follow Sinclair all the time and he's been cryptic lately. When he gets cryptic, I get worried. Over the years that's meant there was a big correction coming. Hard to believe after 22 months in silver but these corrections usually end with capitulation of some sort. I don't think we've seen that yet. JMHO.

Wed, 02/13/2013 - 15:53 | Link to Comment Shizzmoney
Shizzmoney's picture

CNBC embedding is the worst #fail

While they fix the video, here's some reading on our favorite ranter you'll enjoy:

Rick Santelli, along with Lawrence Kudlow and all the other free-marketeer hustlers at CNBC are nothing but bailout queens posing as angry, principled anti-bailout crusaders. Repeat again, to get it into your thick heads: Rick Santelli’s salary is underwritten by government bailout money… YOU, PROTESTERS AGAINST BAILOUTS, PAY RICK’S SALARY! And yet, gosh, he’s just soooo angry about his taxdollars going to bail you out, because as he said in his famous “rant,” he doesn’t want to bail out “losers” like you. He just wants losers like you to bail out winners like him and Kudlow.

 

And you know, in a way, he’s right–you really are losers if you don’t demand that Rick pays you back the money he took from you and all of us.

http://exiledonline.com/%E2%80%9Cslick-rick%E2%80%9D-santelli-is-a-bailo...

Wed, 02/13/2013 - 15:57 | Link to Comment CaptainSpaulding
CaptainSpaulding's picture

It worked for Howard Beale, Until it didn't

Wed, 02/13/2013 - 15:59 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Indeed, fiat profiteers trashing fiat.

Wed, 02/13/2013 - 16:03 | Link to Comment azzhatter
azzhatter's picture

I fart in the general direction of Kudlow. This asshat preaches "king dollar", strong currency and then applauds Japan's devaluation

Wed, 02/13/2013 - 16:05 | Link to Comment azzhatter
azzhatter's picture

Hey Kudblow can we please get more of that asswipe Don Luskin on your show. Everyone loves an arrogant cocksucker with their dinner

Wed, 02/13/2013 - 16:51 | Link to Comment NotApplicable
NotApplicable's picture

Ummm... at this point EVERYONE'S salary is underwritten by the bailouts. That's what happens when the real market is long-dead yet is still animated in a zombie-like fashion.

While I have no doubts as to Kudlow's goals ("I don't drink the Kool-Aid, I mix it!"), I see Rick as operating coherently within his incoherent belief system (Friedman, again). What other market commetator would dismiss the legitimacy of valuation and pricing discovery as fully as he just did?

Perhaps he'll find an opening at the Daily Show?

Wed, 02/13/2013 - 16:03 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

Interesting indeed, thanks...

Wed, 02/13/2013 - 15:54 | Link to Comment SheepDog-One
SheepDog-One's picture

Must....Get....Fiat....Must Buy....

Wed, 02/13/2013 - 15:55 | Link to Comment stateside
stateside's picture

All western central banks and Japan agree to print to infinity and short gold at the same time to make it seem all is right.  What a great plan..................if it wasn't for the dam Chinese buying up every available ounce of gold.  Just sitting and waiting for them to announce how much "OFFICIAL" gold they have stored up over the past 3-4 years.  An instant gold woodie on the news that 1,000 viagra pills couldn't replicate.

 

stateside

Wed, 02/13/2013 - 17:36 | Link to Comment AllWorkedUp
AllWorkedUp's picture

Well, I've been holding phyzz for nine years now and that can happen any old time. I've also been hearing it will happen any day now and yet it's like riding a fucking turtle.

Why do I think they're never going to let gold really run? The last 18 months has been sickening to watch. The last 22 months in silver has been even worse.

I know, I know, just keep stacking.

Wed, 02/13/2013 - 15:55 | Link to Comment Confundido
Confundido's picture

Don Patinkin showed that for a closed economic system, the level of prices could not remain undetermined.

But because he died before the internet, he never imagined that in a global system, where there is no price index or general level of prices but only relative prices (in term of fx), it is possible to live with an undetermined price level.

Under true cooperation among central banks, then it is conceivable to see economic activity grow, at higher prices, AS LONG AS, the economic agents lack an anchor for real value. It is therefore no coincidence that the price of gold is suppressed.

Wed, 02/13/2013 - 15:56 | Link to Comment Dr. Engali
Dr. Engali's picture

Interesting..Dorner's mom watched the stand off eating chips and drinking wine with friends at a Mexican resteraunt.

 

http://losangeles.cbslocal.com/2013/02/12/dorners-mom-spotted-drinking-w...

Wed, 02/13/2013 - 16:02 | Link to Comment tickhound
tickhound's picture

Oprah picked up the tab.  Then there's the book deal...

Mom hit the fuckin' lottery as far as she's concerned.

Wed, 02/13/2013 - 16:06 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

She knew it wasn't him..... waiting for round 2, or a bunch of copycats coming for the LAPD. I feel that before any other people post a manifesto, they should actually have to read the definition of "Asymmetric warfare." He should have stayed anonymous, and used the Guy Falkes masks whenever he did a hit. Much better TV.... L for LAPD

Wed, 02/13/2013 - 16:45 | Link to Comment azzhatter
azzhatter's picture

It's Guy Fawkes

Wed, 02/13/2013 - 16:00 | Link to Comment LawsofPhysics
LawsofPhysics's picture

A profiteer of the fiat world trashing fiat.  Interesting, maybe something significant is about to happen?  Nah, ZZZzzzzzzz....

Wed, 02/13/2013 - 16:29 | Link to Comment Rockfish
Rockfish's picture

Cui Bono - like this blog.  

Wed, 02/13/2013 - 16:45 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Everyone has an agenda.  Don't hate the players, change the game if you think you can....

Wed, 02/13/2013 - 16:06 | Link to Comment pvbflorida
pvbflorida's picture

It seems so obvious that existing debt was not going to be serviced without tremendous risk of default. The numbers had become too large. Central banks around the world agreed to print their curriencies in synchrony. Of course the result was to devalue the purchasing power of existing wealth. It also provided cover for the deleveraging. It allowed the bondholders relief for bad paper. Now we embark on raising the cost of living by too many dollars chasing finite commodities. Then comes the wage pressure which increases the performance of debt service. The message is clear. Screw those retired savers, hell they're almost dead anyway, and put a fork in this crisis that was brought about by the real estate bubble.

Wed, 02/13/2013 - 16:11 | Link to Comment kevinearick
kevinearick's picture

You don't believe the banking data, you don't believe the BLS data, but you do believe the demographic data?

Where are all those people that were inhabiting all those now empty buildings?

Regardless of what you think about this cohort of kids, do you really believe they are going to be paying for the entitlements, or that the feedback loop is going to find its own way back to equilibrium on a gentle glide path?

And why would you look at the US data as if it were separable from the rest?

Interest on interest on interest....QEInfinity.

Wed, 02/13/2013 - 17:34 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Who cares of real value, anyway, price is a ratio of something measure in something else, Gold in Wheat, S&P in Tobacco, Tobacco Dollars. When you buy Gold you are actually long Gold/short dollars.

Actually Long short strategies are there to create such interesting measurements, you could for example measure life insurance books denominated in consumer spending stocks... Or other funky things like that.

FIAT IS FUN :-)

Actually teh best exercise would be to force someone to either start a fund in a systemtically strong currency. Like trying to make money when denominated in Gold. That would be a real challenge. The ones who manage to that are superstarts. Or say force a manager to have a net short position and make money. Super challengin too. You force young kids out of college to do that, and thne you tell them constraints are released. Those guys fly in returns because they force themselves to think backwards...

 

Wed, 02/13/2013 - 16:31 | Link to Comment espirit
espirit's picture

Following the money trail always provides some insight.  Is this case in point where too much obligation to provide a rate of return greater than inflation in pension funds real reasoning for ctrl+p?

Continuing to drink the koolade would give me night sweats if I was betting a substantial retirement savings "guarranteed" by... (fill in the blank).  Most public pensions are struggling to provide 8% in their CBA's, which will most likely end as moar municipalities default.

Just think of Detroits obligations alone.

Wed, 02/13/2013 - 16:54 | Link to Comment WhiteNight123129
WhiteNight123129's picture

Think about it that way.

If inflation runs say at 13% in 9 years. Short term interest rates at 9.5% and return on your pension 8%. Et voila...!!!

 

 

 

Wed, 02/13/2013 - 16:51 | Link to Comment ebworthen
ebworthen's picture

This link appears to work:

http://video.cnbc.com/gallery/?play=1&video=3000147780

Currency manipulation it is Rick.

Gold on sale again today.

Wed, 02/13/2013 - 16:49 | Link to Comment Supernova Born
Supernova Born's picture

Link above works. Thanks

Wed, 02/13/2013 - 16:48 | Link to Comment rayban
rayban's picture

When I read Matin Wolf's "The case for helicopter money" on FT.com I realize that it's nearly over. A bunch of Dr. Strangeloves are firmly in control. They are getting bolder and bolder, printing like there is no side effect, no opportunity cost, no downside. They will ignore all evidence. They will forget XX century history. Ultimately money will be worthless.

Wed, 02/13/2013 - 16:57 | Link to Comment NotApplicable
NotApplicable's picture

They have absolutely no choice. Which is why Santelli can get away with all his truthiness, as it is far, far too late to matter relating to the outcome.

Wed, 02/13/2013 - 16:50 | Link to Comment Arbysauce
Arbysauce's picture

What's the ratio of schrute bucks to stanley nickels?

The same as the ratio of unicorns to leprechauns.

Wed, 02/13/2013 - 16:53 | Link to Comment Clowns on Acid
Clowns on Acid's picture

"That's the good thing about standards...there are so many of them....."
This what Ben Benanke thinks....and also what the illegal immigrant who told Congress " I am not illegal, I am an undocumented immigrant" thinks.
They are both pursuing the same "logic".

Wed, 02/13/2013 - 16:57 | Link to Comment deerhunter
deerhunter's picture

My  '79 Fiat Strada is very offended at all the name calling lately,,,,,,,

Wed, 02/13/2013 - 17:09 | Link to Comment sbenard
sbenard's picture

NOt real! SURREAL! It's a mirage market now!

Wed, 02/13/2013 - 18:19 | Link to Comment IamtheREALmario
IamtheREALmario's picture

... and obviously the technocratic solution to avoid future currency manipulation once all currencies have been Weimarized will be to only have one world currency run by a self-serving technocratic government (OK, so all governments are self serving).

For some reason, putting the "outright" (as opposed to covert) control of the world in the hands of self-serving parasites does not seem to be a good idea. Maybe investing in a supply of "bug-be-gone" is a better solution.

Wed, 02/13/2013 - 18:31 | Link to Comment Dre4dwolf
Dre4dwolf's picture

Video link is broken

Wed, 02/13/2013 - 18:55 | Link to Comment mademesmile
mademesmile's picture

All I know is this. Valentine's Day candy, (think M&M, kisses, tootsie rolls) cost $4.99 BAG at target today. Not a monster sized bag, just a regular, 16 -18 ounce one. This is about double what it was 3-4 years ago. I about fell through the floor when I realized it wasn't 2 for $4.99. It's a little thing, but it does make me wonder.

The dollar is 50% of every transaction in this country. Fiddle with it enough, and you just tanked the whole thing...

Wed, 02/13/2013 - 19:18 | Link to Comment Yellowhoard
Yellowhoard's picture

By the way, Japanese equities can be played with currency hedged through DXJ.

Just saying.

Wed, 02/13/2013 - 19:50 | Link to Comment Apostate2
Apostate2's picture

Fiat experimentum in corpore vili.

Thu, 02/14/2013 - 00:14 | Link to Comment Kingkongballs827
Kingkongballs827's picture

PVC Gun Burial Tube. Holds 3 long rifles Ak47, SKS, AR15 plus ammo and gold & silver. Check it out here.

http://www.ebay.com/itm/160970141105?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

 

 

Wed, 02/13/2013 - 22:41 | Link to Comment silverdragon
silverdragon's picture

Don't worry the Chinese, Indians, Russian's Arabs and Jews are going to save us as they are all buying Gold like its going out of fashion.

Hey wait aren't they supposed to be the bad guys?

The sooner Gold and Silver reset to ther true values the sooner we get to a non fiat, value based system.

 

 

Thu, 02/14/2013 - 03:32 | Link to Comment dunce
dunce's picture

Santelli keeps blurting out the truth on national TV. obama is going to put him at tha top of his drone hit list.

Do NOT follow this link or you will be banned from the site!