"It's All The Fed's Fault" Santelli Rages, They "Will Certainly Turn Us Into Japan"
Who is to blame for all this volatility? CNBC's Rick Santelli scoffs at the growing mainstream media's recognition that The Fed is to blame for daring to raise rates - "a group of unelected officials ruining the party and taking away the punch-bowl."
Santelli's problem is that "every time the picture of the world was not what The Fed wanted us to see, they changed the channel," and now they are cornered in their lies, "all along The Fed should have been honest about the true quality of the jobs data.. and now they are force to tell the truth about it, they risk losing all of their credibility."
"The notion that a small group of people should control the price of money should be under review," Rick rages, warning that "if stocks are rallying because The Fed is retreating, we certainly will turn into Japan."
Here is Santelli with two minutes of simple truth...
(36 votes)
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I said the same thing above and got shredded. Not sure what is so controversial about pointing out that he continues to say the same thing over and over again six years running.
THE VAPORS knew this in 1980
leave vaping out of this.. oh
We knew that was coming, now didn't we?
moar bullard! what time does he open his pie hole tomorrow?
When will the Japanese riots begin? I guess the citizens are too old to care that their country is lost.
These deserve what they get. A nation of damn fools. A good template for the U.S. to follow.
As their debt/gdp approaches 400%, yet their interest rates on their bonds goes ever lower, this insanity further fuels the idiots at the Fed, who truly think have unlimited time and money.
Mr. market, please prove them wrong before the hag Yellen is out of office.
Japan has a pretty low unemployment rate (im not sure how accurate it is technically). Tokyo is beautiful, well organized and I have never seen a homeless there. The rural parts embrace community, subsistence farming and free electricity.
So imho we should be more upset... (greater fools)
The rural parts of Japan are islands of the aged. Whole towns are disappearing into ghost towns as the old folks die off.
It's beginning to happen in the US too. The kids want the bright lights, big city.
are you kidding? rural usa has been dying for 40 years. most of the downtowns are boarded up and desolate. the only ones surviving are the ones lucky enough to attract flat landers during whatever season for a coupla months. all the talented youth are gone leaving only the old folks who did not or could not move to florida.
in rural nys the old folks are being taxed out of their homes because of onorous property taxes to support school districts with no students. the problem in japan is way overstated compared to the usa.
I haven't been to Tokyo since 2005, but I saw several homeless guys sleeping on park benches and more on subway steps. Their economy hasn't improved since my last visit. You need to look harder.
the western media has taken great pleasure in bashing the japanese economy and the dire straits of the people. that is the myth. the japanese economy is not the mess they would have you believe and the japanese people have not suffered any severe austerity except for a short period after the "lehman shock".
their big problem is how they are going to shed the usa beast without being destroyed by them. the people know their future lies in asia and china. their economic dependence upon the usa is waning except for the trillion dollars they hold. you have to look at japan in the context of the neocolonialism they imposed upon themselves post ww2. there have been antiyankee protests in japan since the early 60s. those people now run the country. if you don't think the japanese are trying to figure a way out of the present subjugation you are mistaken. research koizumi's manifesto for a reference.
the japanese people and nation is still very wealthy, despite all their social and demographic issues. the news of their death is premature.
when the dollar finally defaults the yen will follow. the dollar has nowhere to turn. the yen will turn to the yuan.
I don't see it. In a post-pax Americana world, Japan reverts to a province of the new 500-lb. gorilla. Your old people will be herded into geriatric concentration camps and your land will be populated by emigrants from the filthy mainland yearning for clean water and breathable air.
they will commit suicide before they let the chinese in. korea will be the compromise as both don't think much of them or their countries.
He essentially said the complete truth in such a way as not not immediately have a hit squad sent after him.
I have no qualms with what he said at all because Japan is the playbook it's the model and the meme is that it's a controlled looting of the economy over a very long time.
Connected people profit from the bubbles along the way they get in, know when to get out and then get to pick the bones clean after the disaster, rinse and repeat.
This guy better be careful or he's gonna end up with his head "back and to the left."
Smooching a nail gun.
Santelli gets it. He sees the ghost bid.
Counterfeit the banker friendly ghost.
All the bad bits of japan but with no industrial base.
Except for Boeing, General Electric, Cargill, Dow Chemical, Dupont, Monsanto, Pfizer, Merck, Intel, Texas Instruments, Apple, Microsoft etc. Can you breathe with all that sand around your head?
Anyone wh don't name the Jew isn't worth listening.
Why on Gods green earth would anyone ever, ever think that a group of private banksters that have complete/total control over the issuance of "money" would ever do anything except what benifits them, is beyond my understanding.
These cocksuckers would/will strip their own mother of her very last dime, and do so with glee!
Motherfuckers all!
Know your enemy!
And to add-- why would anyone think that the legal entity of the corporation, whose very existence is to return profit to shareholders in the short term, and whose major defining feature is shielding its officers from liability, do anything towards the public good?
Santelli is one of the ass puppets on the other hand; to capcha the angry viewers.
Santelli must be listening to Peter Schiff's podcasts..
He's Peter's Brother from another mother!
Beam me up!
Stopped at the :47 second mark.
While The Great Santelli accurately addresses the 0%-rate policy continuing long after it should have been ended, what he leaves out (purposefully or not, I don't know), is the reason Why the Fed left rates at 0... Because they have known all along what would have (and will eventually) happen if rates were/are ever allowed to approach normalcy. Absolute and unmitigated economic and soon thereafter, social implosion. The consumerist economy of the United States is simply not capable in its current form, of handling a normal interest rate environment.
I lost interest after he suggested it merely be "under review" that a small group of unelected people control the money supply and that 0% was put in place "too long."
This implicitly concedes everything the Fed needs to continue, just making the debate a matter of window dressings and degree. How many people should decide the price of money for an entire country/planet. How many of them should be elected vs not. How long should rates be forced to 0%. Not interested in those debates. There is no way to come out of those debates accomplishing anything.
Funny that he understood more QE=Japan. Suppose that's more than anyone else on CNBC understands or is willing to say on air.
I honestly believe the only way to save the US is to take our medicine (higher rates, or ideally floating rates set by the market and not the fed).
Yes, it will hurt. Probably a lot.
But, from then on we only incentivize productive investment rather than shoot buckshot at every endeavor presented, thanks to cheap borrowing (mispricement of risk, then watching the bubbles burst with the failure of what would be considered stupid investments at historically normal rates.
Interest rates must return to pricing of risk. And I think there's a good deal of risk to a country with a spending habit that will take millennia to pay off even if a $1B surplus appeared magically tomorrow.
Protect thyself. Diversify into physical PMs, BTC, productive enterprises, and supplies. I have minor preps in my basement (few gallons purified water, besides the hot water heater) and approx 2 weeks of food. Should probably do more...
Interest rates must return to price time value of money. That's the missing factor. Risk is still being priced in - which is why you can't get a home loan for 0%, you pay 6%. The 6% percent is all risk premium.
The higher consumer interest rates is one way of hiding negative interest rates, instead of paying less (negative on deposits), they take more, it's effectively the same thing.
Bullshit. Large corporations can't handle a normal interest rate environment, it's true. Because it would mean they would actually have to fucking work for a living! Small business has led hiring out of the recession and they did it by growing their business, not buying back their stock.
Rates were left at zero, so the banks, Wall St. and the .01%ers could get free money...end of story. Now, they are stomping their feet at having to pay a measley .25% more, and Bulltard has to placate them, by saying maybe they won't raise rates and possibly lower them...oh joy for them.
What about us you useless fucks...we didn't get ANY of that free money, we didn't get paid for excess reserves that was given to us at zero percent.
Hang the fuckers! Death to the moneychangers!
Bulltard was saying today that he's going to start the party again with QE4.
So can somebody pls tell me the cause or impetus for today's rally? Is it bc people are thinking the Fed will roll back the interest rate increase, roll out QE4, or bc of slight increase in WTI oil prices today?
they began collecting on the shorts because they have been given the signal(thanks bullard) that the fed won't let it go much lower.
Just another ramp job by the PPT. Look at a weekly chart. Monday and Tuesday ramp jobs starting at 2PM. Wednesday no ramp job. Perhaps they wanted to measure how things would react without their meddling. Today ramp job starting early and running all day. Back in control and slamming gold and silver with our own money.
We can expect this to continue until "we the people" reign in the FED and outlaw the PPT and disband the BIS.
That will probably require a total system meltdown to motivate that reaction.
Look at how the Demoncrats recently filibustered to stop legislation to even audit the FED.
The Feds RISK loosing all of their credibility? It's been long gone......
/tentacle_porn
Feds are only the lever of the kleptokrats. Wall St. directs this policy, and to pretend otherwise shows you as a shill.
So if the Fed is giving the retreat signal. Then why the fuck wouldn't Gold and Silver be going up 5% every day. This scenario is why I bought Gold. I never would have bought it only as insurance for end of the world. At that point it's basically too fucking late. I guess I was wrong to think QE Forever meant Gold up Forever. And if not, how did Gold ever hit $1900 as things are much much worse today.
Oh well you lose some then you die. Unless you take out some of the criminals, who caused to lose before you die.
You were smart to buy gold. That wasn't a bad decision.
There was an old downtrend line from early December '15 that landed at the $1070.00 area. I was watching the charts and figured that would be a good place to cover.
APMEX deals
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ll the fed's fault? BULLSHIT. The fed is a SYMPTOM, you dunb ass! Taking it away is NOT going to gt us out of this parasitical wage slave economy we have. It's simply a tool of the slave masters; do you really think it's the only one at their disposal? Jesus fuck.
Japan with a shitpot of Third World fat assed refugees. That is a significant difference.
Hey Kiddos after working 80 hours a week at all your McJobs you can take a nap in your Coffin Apartment until it's time to wake up in 4 hours to work the night shift.
You're on to something. Coffins are well appointed. The " Crawl Spaces" in SillyCON valley/ not so much
Unless you're a Vampire on a budget?
It's past time to sneek up on these CRIMNALS, one by one, and take them out of commission!
every race, country and sex...remember..."it's small world after all"...Right?
Guy mustafa death wish and on CNBC and all.
But why are people only turning now after all this time, could it be because they were making money out of it before, and now their not.
Hitler warned about the international clique of jewish bankers running the entire world. We are nothing more than a jewish bankster vassal state. Death to the zionist. Hang them all.
Here we go again...you have nothing important to say..I would not worry about what Hilter said...not a real "role model" for society...sounds like you are desperate for quotes today...