"When You Have Fiat Currency, What Level Of Value Is Real", Santelli Asks
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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And its not even two ply!
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.
Most of the time, the CNBC videos don't play on my computer.
Error Code VID : 504
Does anyone else have this problem.
Sounds more like a blessing to me.
Yes, I am getting the same error code.
Ron Paul's microphone working yet?
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.
I never get that code, now I do. "Fiat", a dirty word now?
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.
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.
i forgot to say, i have never seen a video go down and stay down like this, not even cramer calling the idiots idiots.
It works for me. Though I notice they cut off the video before the end of his segment.
This worked for me.
Santelli Explains Currency Manipulationhttp://video.cnbc.com/gallery/?video=3000147769
Indeed Santelli isn't allowed to say fiat.
Yep- fiat is a 4 letter word!
No it's just u
I guess your anti-malware software flags them as containing bullshit.
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!
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
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
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.
To make that picture complete, you gotta add Blythemaster somewhere.
no bettering in sight
The video you are trying to access is unfortunately unavailable at the moment.
today was the first time for me. must be obama's new cyber security in action.
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.
if it only had modern presidents faces on the paper. Then there'd be a bit of satisfaction wiping me arse
or cushy
Is Rick allowed to say 'fiat currency' on national TV?
The money changers wont like that.
Ask Valerie Jarrett. But pass it by Tony. And oh, by the way, have Alsammarrae take a gander at it, too.
Apparently not, he's been VID code error: 504'd
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.
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...
After all the anti-gun BS on Fox I have a hard time tuning in.
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".
lol beautifully said.
They think he's talking about some little POS car.
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.
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."
.
?
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.
"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?
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.
paging mr. whipple
How come there's not an article about Rosenberg's flip flop on Fast Money today? Isn't he ZH's resident bear? WTF?
No, that's 'Rosenpenis'....wrong guy.
Did he channel "Balls to the wall" Tepper, by chance?
Whether Rosenberg is spouting bullish or bearish -- he is not intelligent nor articulate.
"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?
Isn't a FIAT what old community organizers could afford to drive?
Yes, indeed.
Why, I can still remember the good ole days when French cars would torch themselves. (Yet another jorb taken by the immigrants)
Nothing is real in the matrix Rick...only now you are starting to understand.
The real question is whether Rick really took the red pill...
or is he just faking it?