UGO04: CNBC Legend on the Price of Losing Price ft. Rick Santelli

Rick Santelli joins Cem Karsan for a conversation that cuts through the noise. From the floor of the Cboe to the era of central bank primacy, Santelli reflects on how markets have been reshaped... not just by technology or policy, but by the loss of honest signals. They cover the Fed’s shift from restraint to control, the unintended consequences of zero rates, and why housing, credit, and the long bond may be nearing a breaking point. This isn’t a retrospective. It’s a clear warning from someone who’s seen what happens when incentives go unchecked.

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Episode TimeStamps:

00:02 - Introduction to the UGO series

01:26 - Introduction to Rick Santelli

05:16 - The first trade Santelli ever made

06:32 - The historical performance of gold

08:39 - Why did Santelli move to interest rates?

10:28 - How technology impacts the way we invest

13:30 - A shadow Fed president

14:46 - How Alan Greenspan changed everything

18:47 - We are starting to pay the price of overspending

22:04 - Money printing - a daisy chain of a closed circuit

23:50 - How do we get out of debt and how does it end?

29:06 - How do you invest wisely in today's economy?

36:48 - Cost of credit: The lurking financial threat

39:03 - How