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Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."

 
cdwarior
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05/14/2010 02:44 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
I read a return to the gold standard would require gold at $58,000/oz. (before all the tarp/bailout crap). I would think probably about $65,000 now. Basically divide m3 by ounces of gold and wha-la! Silver at about $2,800 they were calling. Sorry, can't find the link but it was very dated anyway.
Lily

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05/14/2010 02:48 PM

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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
All the gold ever mined would be just a cube 55ft long. just sayin....
 Quoting: Richard Eldritch

bsflag
You have to take Bible prophecy literally, just like everything else in the Bible. - Tim LaHaye
Anonymous Coward
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05/14/2010 02:50 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
All the gold ever mined would be just a cube 55ft long. just sayin....


and how tall?
 Quoting: 1-2-Follow


Ummm he said a "cube." [clears throat]
Anonymous Coward
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05/14/2010 02:57 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
looks like you dont OWN gold.....you LEASE it
Anonymous Coward
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05/14/2010 02:59 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
People decided that gold is worth something because it glitters, it's pretty. People can decide that led is just as valuable. Ya need it to make bullets and radiation shields. Neither gold or led are edible or conductive and both are plentiful... It's all made up.



I believe that humans value gold because it was genetically programmed into us to mine it for the Anunnaki. The reason that is is supposedly no longer in Fort Knox and that 100s of companies on the radio and TV are begging you to turn in your gold for cash is that its all being gathered up as tribute for when they return.
 Quoting: Sol Hyperion

are you fucking kidding me??? you may want to rejoin reality at some point and maybe consider finding those meds-they gave to you for a reason. oh and captain douchebag-here's a real brain teaser-go fuck yourself
Anonymous Coward
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05/14/2010 03:01 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
All the gold ever mined would fit between the legs of the Eiffel Tower......now have you got it!
9teen.47™

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05/14/2010 03:02 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
All the gold ever mined would be just a cube 55ft long. just sayin....
 Quoting: Lily

kitty I'm not greedy, I'll settle for a 5 inch cube.
Zec 12:3 And in that day will I make Jerusalem a burdensome stone for all people: all that burden themselves with it shall be cut in pieces, though all the people of the earth be gathered together against it.
Psa 9:17 The wicked shall be turned into hell, [and] all the nations that forget God.
Jer 6:2 I have likened the daughter of Zion to a comely and delicate [woman].
STOCK UP NOW. You should have at least 6 months worth of basics for every member of your household. Stay away from crowds when trouble starts, do not forget water storage, tobacco is worth more than gold or silver, and be kind to hungry children.
Free Planet
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05/14/2010 03:13 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
paper gold? what idiots
Anonymous Coward
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05/14/2010 03:15 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
Anonymous Coward
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05/14/2010 03:19 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
I dont get the appeal of gold. Many people like it, I just dont understand why?

I think in a TEOWAWKI secnario, gold wont be worth shit.

Im starving. I need fucking food!! Im thristy i need water.

That will be the "Currency of choice".

The guys who has mountains of gold,...... who is going to want that gold???
Anonymous Coward
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05/14/2010 03:30 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
I dont get the appeal of gold. Many people like it, I just dont understand why?

I think in a TEOWAWKI secnario, gold wont be worth shit.

Im starving. I need fucking food!! Im thristy i need water.

That will be the "Currency of choice".

The guys who has mountains of gold,...... who is going to want that gold???
 Quoting: Anonymous Coward 76144




You must have never hear of ORMO, mono-atomic gold or white powder gold...



[link to www.youtube.com]
Yodachoda
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05/14/2010 03:31 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
You could use it for paper machete Christmas Ornaments or with popcorn strings between each kernel.
Anonymous Coward
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05/14/2010 03:31 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
Only gullible people would buy, instead of real gold, a paper promise of gold...
Anonymous Coward
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05/14/2010 03:32 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
stuff like this is no different from a drug dealer stealing your money and giving you no Product..... 90% of the population wont do a fucking thing about it- they will whine like children hoping they get re-served on a silver platter- while the other 10% will stand the fuck up n take there shit back..... the 10% im speaking of will be the fittest to survive this new world...
Yodachoda
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05/14/2010 03:33 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
All the gold ever mined would fit between the legs of the Eiffel Tower......now have you got it!
 Quoting: Anonymous Coward 965322

Or between Oprah's Ass cheeks.
Anonymous Coward
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05/14/2010 03:33 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
I dont get the appeal of gold. Many people like it, I just dont understand why?

I think in a TEOWAWKI secnario, gold wont be worth shit.

Im starving. I need fucking food!! Im thristy i need water.

That will be the "Currency of choice".

The guys who has mountains of gold,...... who is going to want that gold???




You must have never hear of ORMO, mono-atomic gold or white powder gold...



[link to www.youtube.com]
 Quoting: Anonymous Coward 918295

Face it man- gold will be worthless when shit gets Bad.... soccer moms with children to feed wont be worried about some fucking precious metals- they want FOOD and WATER!
Anonymous Coward
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05/14/2010 03:48 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
55ft gold plated tungsten cube?
Arcaneshift
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05/14/2010 03:54 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
{cumpter question) If the upper class wants to surive they must cull themselves so that the middel class can support them.
Anonymous Coward
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05/14/2010 03:55 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
Let me explain it to you ..

I'm a creditor ..

your a slave ...

I have one gold bar ...

I seel it to ten slaves ..

first slave to come claim it wins !!
Anonymous Coward
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05/14/2010 03:56 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
stuff like this is no different from a drug dealer stealing your money and giving you no Product..... 90% of the population wont do a fucking thing about it- they will whine like children hoping they get re-served on a silver platter- while the other 10% will stand the fuck up n take there shit back..... the 10% im speaking of will be the fittest to survive this new world...
 Quoting: Anonymous Coward 928852


drug dealers don't steal money, thieves do
Anonymous Coward
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05/14/2010 03:57 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
My understanding is the futures market is pushing the Gold price. These contracts have a fixed expiry date and most are closed before then but they are not converted into real gold. It's just trading on how much people think Gold is worth.
LouisWinthorpeIII

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05/14/2010 03:58 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
All the gold ever mined would be just a cube 55ft long. just sayin....


and how tall?
 Quoting: 1-2-Follow


Oh no geometry fail!
"I don't know which was scarier...the speech...or the Congress cheering it. He evoked Lincoln. Whenever a President is going to get us into serious trouble...they always use Lincoln."
-2010
LouisWinthorpeIII

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05/14/2010 03:59 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
looks like you dont OWN gold.....you LEASE it
 Quoting: Anonymous Coward 969776


Just try to take delivery...it's next to impossible because they simply don't have it.
"I don't know which was scarier...the speech...or the Congress cheering it. He evoked Lincoln. Whenever a President is going to get us into serious trouble...they always use Lincoln."
-2010
BadMoonRising

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05/14/2010 04:00 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
Don't worry.

There's plenty of gold-plated Tungsten about.
"What The HELL Is Going On?..."

[link to www.worldending2012.org]
Anonymous Coward
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05/14/2010 04:14 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
People are on edge.

The talking heads on CNBC are at each others' throats.

When fighting about gold....Rick Santelli said something along the lines of, "The price of gold itself for whatever reason is telling us something is wrong. The problem is, as people run into these ETF's like GLD and push the prices up....what happens when they find out that there isn't enough physical gold to back all the paper they are buying?"


Hopefully there is a video up soon....but that is a DAMNING thing to say on financial TV. Basically telling everyone...if you don't have physical gold in your hands...you don't own it.

Things are getting goofy out there.
 Quoting: Anonymous Coward 832190

I told you all that 6 years ago on this forum. Idiots buy paper gold
Anonymous Coward
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05/14/2010 04:14 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
Well, about 23 percent of the paper gold is backed by real gold. The paper is much like Ron Paul's Gold standard.
 Quoting: Anonymous Coward 752389


Interesting. How did you work out how much paper gold there is in circulation?

And how did you make sure that this was a genuine shortage? Example: A owns 100g of gold. B has a contract with A for A to give B 100g of gold tomorrow. C has a contract with B for B to give C 100g of gold next week. D has a contract with C for C to give D 100g of gold next month. E has a contract with D for D to give E 100g of gold next year.

That's 400g of paper gold in circulation, and only 100g of actual gold, but there's no shortage of gold and no fraud. When you counted up all the paper gold in circulation, how did you account for situations like this?
G. House

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05/14/2010 04:14 PM

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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
People decided that gold is worth something because it glitters, it's pretty. People can decide that led is just as valuable. Ya need it to make bullets and radiation shields. Neither gold or led are edible or conductive and both are plentiful... It's all made up.
 Quoting: Anonymous Coward 553712


Gold is the best conductor.

Lead is conductive.
"Everybody lies."
Anonymous Coward
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05/14/2010 04:20 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
There you go, trusting what you think you know. Gold is like everything else, supply and demand. Buy gold from me and I’ll send you your receipt in gold letters that should be proof enough chuckle
Anonymous Coward
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05/14/2010 04:23 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
Well, about 23 percent of the paper gold is backed by real gold. The paper is much like Ron Paul's Gold standard.


Interesting. How did you work out how much paper gold there is in circulation?

And how did you make sure that this was a genuine shortage? Example: A owns 100g of gold. B has a contract with A for A to give B 100g of gold tomorrow. C has a contract with B for B to give C 100g of gold next week. D has a contract with C for C to give D 100g of gold next month. E has a contract with D for D to give E 100g of gold next year.

That's 400g of paper gold in circulation, and only 100g of actual gold, but there's no shortage of gold and no fraud. When you counted up all the paper gold in circulation, how did you account for situations like this?
 Quoting: Anonymous Coward 896179



100x leveraged??
Xeitgeist
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05/14/2010 04:37 PM
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Re: Rick Santelli "Just wait until buyers of paper gold figure out there isn't enough physical to back it."
Is this a new finding for Mr Santelli or has he been playing possum on this while urging people to buy gold?

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