CNBC’s Santelli: Even Gold Can’t Save Us Now

SANTELLI: 'I Don't Even Look At Gold As Gold Anymore' (Business Insider)

Now that gold isn't doing so hot, it sounds as though Rick Santelli thinks the whole game is rigged.

Santelli, who traded gold since 1979, says those investing in gold ETFs are going to end up with checks from ETFs rather than physical gold.

His quote from CNBC:

"I don't even look at gold as gold anymore. Gold is just another piece of paper.

Listen, if things go badly in the world that I used to observe as a gold bug, the gold would end up in the hands of the gold bugs. If things go badly now, they're going to end up with checks from ETFs.

Sorry, it's not the same. The reign of gold is the Ayn Rand end product. To me, that's over. Game, set, match."