If you have a couple of minutes, here's a great rant courtesy of Rick Santelli. About the only commentator of CNBC I have any respect for. In the meantime look for a higher RHR SP in the coming weeks. The bids continue to get stronger, while the asks are slowly getting taken out. Soon we will not be trading below cash on hand. We also have the LIBOR scandal, JP Morgan Scandal, HSBC money laundering, PFG scandal, etc.. Gold will without a doubt breach $2000 this year.

Click on the title below for the video link. SMF069

Epic Santelli Rant On 'Un-American' Federal Reserve/Treasury Incompetence

Submitted by Tyler Durden on 07/16/2012 - 12:45

Stunned at the sheer ineptness and lack of due diligence in the Libor-rigging details that are being uncovered specific to Geithner's Treasury and Bernanke's Fed, CNBC's Rick Santelli reflects on just how unbelievable TARP was in this context. "Hurry up, let's spend three quarters of a trillion dollars; how much due diligence did they do for our role as taxpayers in basically bailing out the banking system? Obviously zero!" and this as they knew these very-same banks were manipulating rates. Opining on the un-Americanism of jet-skis and outsourcing, Rick states unequivocally "what's un-American is we now have the Federal Reserve Bank of New York and Treasury taking heightened importance in regulating us in the future through Dodd/Frank. Shame on their legislation!" Meanwhile, those very same un-American Treasury staff (who we are supposed to trust with the future of our banking system and implicitly the economy we pre-suppose) have just been caught soliciting prostitutes and breaking conflict-of-interest rules.