Santelli-'Biggest Lie:Those 10 Damn Banks Mean Everything to Everybody'

[jawber898]

fuck mainstream TV the INTERNET IS THE FUTURE if we let them regulate the one free flowing information tool left then we will all be brought to our knees in the face of a power hungry government!

[soylentgreenb]

Liquidation is the only way out of the hole. Hoover and Roosevelt tried to avoid it, so did Japan. You can't, malinvestments have to be unwound so that the factors of production they occupy can be put back into productive use.

1920-21 the US had an 18% year on year rate of deflation at the peak. The government shrank in half, the fed didn't have the wherewithall to do anything. Wages and prices adjusted beautifully without stickyness and the economy bounced right out of it.

[RakeRocter]

liesman can't listen or get the point.  he has misconstrue what others say and force it into his faulty template. liesman should be gone from tv.

[louisgander1]

And the government continues to throw long-term debt at temporary jobs.

[bossduff]

I think that if 10% of americans had Ricks fire, that the problems in this country would be turning in a more positive direction. People need to wake up! Everyone thinks that the problems are so complex. But if a couple of things happen,like audit the fed, stop the bail outs, and dismantel the to big to fails. Things would start to turn around very quickly. Jail the people that caused the mess. People may even gain confidence back in the system. AUDIT THE FED!! for starts.

[trent2429]

Rates could be 20 percent right now and I'd still be dumping my dollars the moment I cash my paychecks. The damage is already done, no one is going to trust the currency. Besides Liesman, that is.

[srkh28]

.. "give me a number, give me a date" - How can this guy know that?, when half the US combined cant work that out. It seems the US is the worlds CEO's club with a servant like whiny public.

[soylentgreenb]

"give me a number, give me a date"

Dismantle the federal reserve and let the market set rates.

Let companies that go out of business liquidate; that's the cure. Their existance is the disease. Every car GM makes represents a loss of wealth.

[frontier1701]

Clearly Rick Santelli needs to go back to CNBC brainwashing school.... He sorta gets it..... Baldy Leistman is hopelessly lost in the woods... At least the chick is hot, but thats all CNBC has going for them

[suzettespencer]

Another thing CNBC cant get right. Cant even brainwash their own pundits. That's really scary

[StokeyBob7]

Maybe this will help make the danger of fiat money clear.

Imagine you and me are setting across from each other. We create enough money to represent all of the world's wealth. Each one of us has one SUPER Dollar in front of him.

You own half of everything and so do I.

I'm the government though. I get bribed into creating a Central Bank.

You're not doing what I want you to be doing so I print up myself eight more SUPER Dollars to manipulate you with.

[StokeyBob7]

All of a sudden your SUPER Dollar only represents one tenth of the wealth of the world!

That isn't the only thing though. You need to get busy and get to work because YOU'VE BEEN STIFFED with the bill for the money I PRINTED UP to get YOU TO DO what I WANTED.

That to me represents what has been happening to the economy, and us, and why so many of our occupations just can't keep up with the fake money presses.

They have been beating us with our own stick!!!!1

[OneEyedPony]

CNBC FED Shill Steve LiesMan is insulting the investment community and embarrassing himself!

We all know, the Federal Reserve has funded the BANKS to buy all the winning hands from the Casinos called Wall St. Someone needs to expose the insolvency and charade concocted by Uncle Sugar, THE FED, and the so-called banks.

The Biggest Lie via Propaganda from Washington DC is those 10 Banks and the people's stolen Wealth, future, and standard of living.

Shut the FEDERAL RESERVE DOWN!