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Santelli On How The Fed's Taper "David" Becomes A Global Deleveraging "Goliath"
On the two-year anniversary of our most in-depth explanation of how all stimulus globally is fungible, CNBC's Rick Santelli took up the mission of explaining how the never-ending rush of global central bank provided liquidity flows any and everywhere fungibly around the world in an instant. Furthermore, as we explained to Rick's colleague Mr. Liesman, not only is the stimulus fungible but it means all global leverage is 'shared', and available for use in any and every risk-asset-funding. In other words, as Rick so eloquently points out, thanks to the fungibility of stimulus, the speed of modern finance, and the shared leverage of global banks and hedge funds seeking (to enter and exit) the same leveraged carry trades wherever they are in the world, even a small 'David' of a Taper by the Fed is instantly transformed (3% swings in JPY, 800 point swings in Nikkei, 8bp ranges in IG credit, 10% drops in GGB prices, limit down breaks in European banks, 12% collapses in EM stocks) into a 'Goliath' of global deleveraging and, "you will hear a flush."
Watch Rick's clip and then visit the two links above to comprehend just how much leverage this stimulus is chasing (and is expecting)...
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In a perfect world:
"Today, Fed Chairman Santelli shut down all operations of the Federal Reserve..."
And the "experts" said there would be no problem unwinding the balance sheet. Ms. D. Leverage is a biatch!
Whats Rick trying to tell us? Whats he trying to say?
the only problem with tapering is that everyone understands it will be time to sell
everyone
sell
and that might have an effect on price
get to work, mister HFT
Fungible. Giant sucking sound. VIX is my friend. Got it. Thanks Rick.
We need moar!
Debt to keep us solvent.
Surveillance to keep us safe.
Education to keep us trained.
And a sociopathic Elite to keep us enslaved.
It sure is, and they know it. They are trying to buy time and figure out what they can do or blame for the financial fiasco that will soon hit US shores at full tsunami speed.
Leveraged Payback is a bitch.
in what direction?
I think what the honorable Mr. Santelli is saying is as rates rise things go BOOM! http://tinyurl.com/lq63ahd
santelli is the only one on cnbc who actually fucking gets what a fucking farce this market is.
he is the only one i can honestly say i enjoy listening to on cnbc. when he is not on closing bell exchange, i get real upset. he is the only one who will put the fools in their place.
and i have read on here in the past how some people think santelli is just doing it as an act, well if that was true, the guy would be working in hollywood making many more millions than he does now, because he would be a great actor.
u can see it in his eyes, his facial expression, is voice how upset he is at this bullshit. go on youtube and look at videos from back in 08 when the tarp bailout was being proposed, how fucking upset he was and he was arguing with those fuckers on cnbc who were saying the market needs a bailout.
dont leave santelli, or then cnbc will officially be 100 percent irrelevant if its not already
Ditto- the only people who bitch about Santelli are those who never have heard him speak......
exactly, the guy is money all the time. he tells it like it is.
like for example, today he was reporting on the treasury auction, and just like we said on zerohedge how awful it was, he did not try and make any bullshit excuses like most foos would, he flat out said it was brutal.
when hes off, cnbc is impossible to watch
http://www.youtube.com/watch?feature=endscreen&v=XifNbkwJUz0&NR=1
Agreed, in the sense that Santelli tells it like it is, but disagree somewhat with whether or not other people get it.
Lying manipulating propaganda masters like LIESman know full well what is going on, but they spend their entire day justifying what the Fed does, how "good" Keynesian farceonomics is for the economy, and all that bullshit. That makes them all the more evil, in my opinion.
Well, I've heard him hundreds upon hundreds of times and I've never heard him say "End the FED", which is the only thing that matters now.
Santelli is as close as it comes to reality but he is absolutely on a leash.
nah, its just that with this bunch Santelli is like a popcorn fart in a windstorm.....
i will have the ultimate respect for santelli when he goes all snowden on them....until then he is part of what we despise...
100% agree.
Sentelli would have gotten canned a long time ago, my guess is he keeps his job simply because he receives 100 times more fan mail than any other CNBC talking head, cause he is what is it called... LOGICAL.
Nobody else seems to understand him on CNBC. But hey, logic is a lost "art" these days.
Santelli is put in place so cnbc can laugh about it's own jokes, withdrawing attention.
The Fed is Goliath, and the world is David, slaying the giant oppressor, liar, self serving moneychanger of old British and European banksters, monarchy, and vatican bull$hit with their Trilateral Commission Frankenstein un-Federal no-Reserve Bored, founded in 1913 without the consent of the American people, nor any people.
A political stitch up, like the EUSSR.
In a world where quantitative easing is global, and all currencies are in a race to the bottom, the only winners will be sitting on silver and gold.
Everyone else will be a loser.
And land, owned nearest genuine community.
Cmon flush!
Flush those bank turds down the toilet!
And don't let them get back into the drinking water this time!
this is a good santelli video arguing with the fools about the tarp bailout. there are a lot more but this one is brief, just showing he is the only one on the channel who fucking gets it.
http://www.youtube.com/watch?v=gwTX7tk--8w
Steve LIESman is the epitome of "you can't fix stupid".
If TARP was o.k. and saved the world why haven't I got my $3,000,000 check from Bernanke yet?
I promise to spend some of it to stimulate the economy and I'll tip at 20% just like I always do but I'll eat out more.
Love Santelli, but why does he have to 'do a Cramer', can't one talk like a normal human being on TV?
i assume u r reffering to doing a ''cramer'' by him yelling a lot?
well to answer ur question, say u were arguing all the time with a bunch of clowns and u continuously emphasized the same point over and over again and they still did not get it?
wouldn't u start to get a little impatient and aggravated?
Not to mention that p.o.s. LIESman talking over him any time he's making a valid point.
Yes - that would drive me crazy. And then, maybe this button-down oxford-cloth psycho might just snap, and stalk from office to office with an armalite AR-10 carbine gas-powered semi-automatic weapon, pumping round after round into colleagues and (certain) co-workers? On second thought, he's pulling together just fine..
the fed = Stay Puft Marshmellow Man
http://www.youtube.com/watch?v=d-sALU_hveA
One of us must be Santelli, guess his screen name?
I use to talk to Rick quite often on the floor, very good guy a Chicago guy, and when I didn't agree with him he would actually discuss the topic with me. The Persona he has on TV is and has to be over the top at times, that's why he's on TV. I personally would rather have a kidney removed with a blunt spoon than have to deal with some of the clowns he has to, for lack of a better word, debate, on that clown show network
I wonder if he wrote Ron Paul in?
I thought it was funny that Simon got cut off by the tape.... Of course it has been at least a year since I have listened to that pompous pasty brit
Although CNBC is clearly less objective than FOX, Rick Santelli is to CNBC what Judge Napolitano is to FOX (in relative tems). While both are pretty much right-on target, each one is ¨kept around¨ just to maintain the illusion of fair reporting. Both are certainly held on a leash, if not in content at least in air-time exposure. In Napolitano´s case by taking away the highest rated show on Fox and limiting his commentary while in Santelli´s case it is done by simply limiting his minutes and interupting his commentaries. Once in a while dangerous (accurate) content gets to the public, this video is one example...
Bingo...
I heard Bernanke tell Congress that the Fed could "let them run out" (meaning hold to maturity) instead of selling the MBSs on balance sheet. He said they're mostly short-dated. When a senator asked him if that's not outright money printing, Ben equivocated and there was some laughter over the C-SPAN audio.
Was i the only one who heard Ben say that they don't necessarily have to sell their assets?