Rick Santelli: 2012 Will See Funding Crisis for Many Countries
January 07 — With the dollar breaking to new recent highs, gold starting the new year strong and bonds near all-time highs, today King World News interviewed Rick Santelli, CNBC’s Business News on-air Editor. When asked about maturing securities in both the US and Europe in 2012, Santelli responded, “Yes, this is a big one. The best way to make banks in any country healthier is to have outside investors say, ‘Wow, this looks good. I want to buy the bonds or I want to buy the banks or I’m taking in deposits.’ Remember deposits have fled out of Europe. That’s why that big sucking sound, they need those swaps, they need dollars to fund some of these liabilities.” Read more.
