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

 
Levski

User ID: 318585
Bulgaria
05/14/2010 07:09 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


I dount it.
Gold has been mined for thousends of years.
Some banks and rich/royal families posses thousends of tons

Last Edited by Levski on 05/14/2010 07:09 PM
What I knew as tangible and real was nothing more than a flimsy, thin sheet of a reality.
I come to know that the real "me" is a supersoul that is my true reality that resides in the spirit world.
Anonymous Coward
User ID: 896179
United Kingdom
05/14/2010 07:14 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."
All the gold ever mined would be just a cube 55ft long. just sayin....


I dount it.
Gold has been mined for thousends of years.
Some banks and rich/royal families posses thousends of tons
 Quoting: Levski


Yes, but gold is extremely heavy. A great mass of gold occupies a small volume.

National Geographic (Jan 2009) estimated a total all-time gold product of 161,000 tons.

[link to ngm.nationalgeographic.com]

At a density of 19.3 grams per cubic centimetre, that's about 7570 cubic metres, or a cube of 19.6 metres on a side. That's a little under 65 foot.
Anonymous Coward
User ID: 970825
Malaysia
05/14/2010 07:15 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."
Everyone knows there isn't enough physical gold to back the paper. But, just like everyone knowing dotcoms were a bubble and housing was going to collapse, everyone thinks they're smart enough and fast enough to get out with their skin. So they keep playing the game, even though they KNOW.
 Quoting: Anonymous Coward 956274





Damn !

Once in a while we got gems of wisdom like the above !!

Damn !!
Anonymous Coward
User ID: 956505
United States
05/14/2010 07:17 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 a gold standard would do is kill inflation.

You can't inflate gold. You can't f'n print gold.

But without inflation screwing the little guy till his eyes cross becomes problematical.

Not being able to screw the little guy is Banker Kryptonite: No inflation, is Banker Kryptonite. Banker Kyrptonite is feared and watched closer than WMDs.

So no, don't bother leaving the light on for the Tooth Fairy.
 Quoting: Anonymous Coward 962242


Might be smart to go to a food standard. Something actually worth something. And the elites would have a hard time controlling.
Doomorrow

User ID: 946597
United States
05/14/2010 08:00 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."
All a gold standard would do is kill inflation.

You can't inflate gold. You can't f'n print gold.

But without inflation screwing the little guy till his eyes cross becomes problematical.

Not being able to screw the little guy is Banker Kryptonite: No inflation, is Banker Kryptonite. Banker Kyrptonite is feared and watched closer than WMDs.

So no, don't bother leaving the light on for the Tooth Fairy.


Might be smart to go to a food standard. Something actually worth something. And the elites would have a hard time controlling.
 Quoting: Anonymous Coward 956505


Food is perishable. It rots, degrades, etc.

Gold is impossible to recreate, and it is resistant to oxidation and everything but the strongest acids.

The fact that it is rare isn't the only thing that gives it value. It's natural properties are second to none as a long-lasting store of value. Same thing for the hard gemstones like Ruby, Sapphire, Emerald, and Diamond.
Anonymous Coward
User ID: 846532
Australia
05/14/2010 08:39 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."
Timely reminder from 2009. This is what I think of Santelli. [link to www.dailymotion.com]
Anonymous Coward
User ID: 970902
United States
05/14/2010 08:55 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."
whatever. gold shmould. the idea that gold carries value will disappear when quantum computing goes mainstream.
Matrix
User ID: 966032
Australia
05/14/2010 09:13 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."
Its just like musical chairs but with a twist; those who play the game know that there ain't enough chairs for everyone, so they keep going around and around hoping to make some money, and get out of the game, before the music stops.
Anonymous Coward
User ID: 718510
United States
05/14/2010 09:19 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."
All the gold ever mined would be just a cube 55ft long. just sayin....


and how tall?
 Quoting: 1-2-Follow


OMG... It's a freakin' CUBE... So DUH - !!!!!!!!

OMG, is it really any WONDER the world is in the shape it's in?

Or that Einsteins such as this genius think that all the PAPER they sink money into and so covetously pride themselves on being RICH as a result of, is worth anything more than it's value in PAPER...

That right there - the illustration mentioned in the original post, about paper gold being worthless - is PRECISELY WHY the so-called "Financial Industry" has you all bent over grabbing your ankles!

Stupid, STUPID people...
Anonymous Coward
User ID: 970937
China
05/14/2010 09:48 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....


and how tall?


OMG... It's a freakin' CUBE... So DUH - !!!!!!!!

OMG, is it really any WONDER the world is in the shape it's in?

Or that Einsteins such as this genius think that all the PAPER they sink money into and so covetously pride themselves on being RICH as a result of, is worth anything more than it's value in PAPER...

That right there - the illustration mentioned in the original post, about paper gold being worthless - is PRECISELY WHY the so-called "Financial Industry" has you all bent over grabbing your ankles!

Stupid, STUPID people...
 Quoting: Anonymous Coward 718510


But it could be a rectangular cube
scoop

User ID: 1555281
United States
08/21/2012 10:35 AM
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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?

55ft it's a cube right?


Lol, and how wide?
 Quoting: Blueacres



see above...

its actually a cube 82 ft on a side.

If it were 55 x 55 it would be 185 ft high.
 Quoting: Sol Hyperion



overcap OMG... It's time to leave this country. putin fucking tards.
scoop

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