Rick Santelli Quote

"I can't remember the exact quote but when I used to trade and Mr. Volcker was Fed chairman, he said something like 'gold is my enemy, I'm always watching what gold is doing', we need to think why he made a statement like that. If you're a central banker or one of the congressmen or senators, watch what gold is doing because this is a no-confidence vote in fiscal and dollar policy."

by:	Rick Santelli American on-air editor for the CNBC Business News network
Source:	CNBC
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Categories:	Banking, Confidence, Economics, Fed, Gold
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hmmm, a very suspect source for such an accurate observance.  -- Mike, Norwalk

True enough. The press will tell the truth only when it benefits them. Probably the quote in its entirety would reveal the context that probably is promoting a different facet of the same con. But remember, the purchasing power of gold does not really change -- when the price of gold goes up, it really means that the value of the money is going down. One ounce of gold buys relatively the same as it has for centuries.  -- E Archer, NYC

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