RICK SANTELLI: "THERE'S NOT ENOUGH PHYSICAL GOLD" 5-13-2010

[SuperCulloden]

Today is August 10TH 2011.

As I type, gold has been bouncing around $1775 ... on July 29 it closed at $1627.20 .... May6TH it was $1495.15 .... Jan7TH it stood $1369.80. Gold has increased in price by over a hundred dollars a month.

Oct 9TH 2009 gold's spot price was $1049.20 . If everyone started demanding delivery of their gold instead of living in hope, trust, and a piece of paper that the bankers and dealers gave them, I wonder, would there really be enough physical gold to go around?

[MONOPOLY35]

Once again, the Mainstream Media is relentlessly claiming that gold and silver are stupid. The government's track record is horrific, yet they ignore people who predicted bad times before it happened like Peter Schiff. In their opinion, Peter Schiff is full of Peter S***. However, China knows better and they are encouraging citizens to buy silver. With the market manipulation going on, this is an EXCELLENT time to buy gold and silver. CRASH JP MORGAN! The prices can't be pushed down forever.

[centurion180ad]

The entire stock market, is a hoax. The boards collude with each other to set prices, and then "borrow" against that projection of profit, which means hooking taxpayers for debt on those bills while spending all the cash on themselves through government largess.

[pdxeddie1111]

wow they finally figuring that out? HAHAHA git it while its cheap

[UrUltimatelyAmerican]

a YEAR ago now, and it is ALL coming out as FACT. BUY SILVER NOW, before you cannot get ANY physical because it does NOT exist. The Dollar will fail soon, they can't keep printing FOREVER...

[brianpadraic]

How about copper? It is valuable and not as rare as gold & silver? It would be the working man's gold. Peace.

[Raycheetah]

@brianpadraic Yup! In fact, watch the news reports on Copper thieves ripping off anything they can get their hands on, even at risk of electrocution. Copper has historically been the common people's money, and may end up being small change for Gold and Silver (just as it always was).

Go to the bank and buy some rolled pennies (in the US or Canada, anyway). $50 gets you 100 rolls. In the US, pennies dated 1981 and back are all nearly pure copper (1996 and back in Canada)...

[Raycheetah]

@Raycheetah ...And are worth around 3 times face value in Copper. In the US, at least, about 20% of pennies I find are still older Copper cents, and you can just redeposit your newer, base metal coins at (a different branch of) your bank after sorting. You can check the metal values of common coins at coinflation (dot kom). It's an eye opener. =^[.]^=

[MONOPOLY35]

@Raycheetah I also take advantage of old pennies and nickels plus foreign currency. However, it has a much lower value to weight ratio compared to silver. Therefore, copper consists of only 7% of my investment portfolio. The rest of it is mostly in silver.

[Raycheetah]

@MONOPOLY35 Absolutely correct. Nickels are convenient, with their uniform high Copper content, but I prefer the higher metal-to-face value return I get with pennies. I've also seen Copper bullion (ingots and rounds) for sale, but at premiums which exceed the value of the metal. Some folks even buy Copper construction stock (bar, pipe) to store, though, as you point out, there's not much point, pound-for-pound, in accumulating it, relative to Silver, for example. =^[.]^=

[jilausdo]

Rick hit it right on. Again, we saw the USD soar against the EUR. Gold and Silver both up at the same time. This isn't the sign of a functioning market, its a sign that people are looking at both currencies like they're sh*t-wiping toilet paper. Then people are throwing their currencies into tangible (and the dumb GLD-investing intangible) assets.

We've had enough of this. Hunker down and buy some silver, you'll be happy in the next few months.

[immetal1]

Hell Yeah Rick, let the pulic know about the manipulation

[tesskansas]

Rick Santelli for President!!!!

[ricobeco]

The shit is about to hit the fan!

[pinup22]

Exactly why it's smart to put ACTUAL physical metal into an account DIRECTLY in your name only. IRAmetals is a company that works with Scottsdale Silver. You can even put in silver bars into your IRA/401K and it's hard ounces, not paper.

[WONDOCTORJ]

Hey sheeple---you don't need the news to tell you that it's all a PONZI SCHEME ---WAKE UP MORONS!

[speedyshipper]

Spread this around!! WOW!!

[traynickel]

@speedyshipper this video has gone viral. It's on Zerohedge, MaxKeiser and AllAmericanGold websites.

[nogl0001]

santelli kicks ass! important indeed!

[codematrix]

There are other alternatives to GLD and SLV.

CEF.A (Central Fund of Canada) and PHYS.U (Sprott Gold Trust). These stocks actually have the gold and silver.

[traynickel]

@codematrix trust no one, all my metals are next to my 9millie.

[brianpadraic]

@traynickel You cannot eat metal though.

[MONOPOLY35]

@brianpadraic . Stockpiling emergency food, water, camping supplies, guns, and medicine are all part of my emergency plan. However, gold and silver can be easily carried if I'm forced to evacuate my bug out location for security reasons. Gold and silver have a high value to weight ratio, which makes it suitable for trade in the black market. It has been used for thousands of years and I don't see that changing anytime soon. "Gold is a very liquid asset, making it very easy to sell" -Pawn Shops.

[meslem99]

@traynicke

Now you just need a stock of food and water

[carpavel]

cracks in the dam

[abukamoon]

This fool is saying nothing! The truth is, people are catching on to the fact that gold is money, you can't print gold. Gold has real value. Federal reserve notes, Euro and the rest of the unbacked paper fiat currencies have no real value.

Four thousand years of human history are exposing the past centuries theft by bankers and political prostitutes who have stolen the greater part of the wealth on the planet.

[cowboy1165]

@abukamoon "bankers and political prostitutes who have stolen the greater part of the wealth on the planet."

Ohhhh I think the people will get it back...One way or another.

[WONDOCTORJ]

@abukamoon HAHA, gold is a ROCK worthless as paper---want REAL money? get a FARM

[amommamust]

Silver is even worse.

[kolorado222]

Respond to this video...

[manaen100]

100% true, there is no enough gold.

[tyronebiggums3]

.

Exactly what I've been saying. On my whiteboard, right now:

1933: people were denied gold for paper dollars

1971: world was denied gold for paper dollars

Now ETFs, "paper gold", will deny people gold.

.

In each case, not enough gold to back the paper.

.