Santelli – Gold Headed Higher As It’s The Anti-Printing Trade
October 4, 2012
Today Rick Santelli told King World News that “… in the end, the gold trade really is an anti-printing trade, and I would be surprised if the direction of gold doesn’t remain to the upside.” Santelli also warned, “We could be looking at many, many years where the globe is kind of in this retrenchment mode.” Here is what Santelli had to say: “The big thing with the global economy where everything changed was on July 26th, when Mario Draghi, head of the ECB, basically said, ‘I am going to do whatever it takes to save Europe.’ He said it in a very convincing way and the markets believed him.”
Rick Santelli continues:
“A process then ensued where they are trying to bail out Spain. But there is conditionality, Eric, and conditionality means yes, he wants to fire this bazooka, and indeed they helped him build it, but they are not passing out the fuse yet.
I think what’s going on in Europe definitely continues to have a very large effect on US markets. Today both central banks of Europe met….