The Winkest Link

By Wink

The current price of gold is at a three month low, and is still dropping.

Are you still buying?

There are lots of things you can invest in. Even in this recessed economy there are stocks and bonds that will make you money. You can buy commodities like wheat futures and, yes, gold.

Gold is a commodity my friend. The price goes up, the price goes down. Is there money to be made in gold? Yep, if you know what you are doing. That would involve some buying and some selling.

If you do nothing but buy-buy-buy because a guy on a radio commercial said it was a great idea, then you do not “know what you are doing.”

Here is the word from David Frum of the Frum Forum:

“Gold trades as a way to make a statement. That’s simply not a sensible way to invest. A great many Americans are paying a steep price – and may pay a much steeper price yet – for allowing hucksters and ideologues to sway their economic judgment.”

Hucksters and ideologues? Who on earth could Frum be talking about?

Glenn Beck is the guy on the radio commercial. The ‘statement’ Beck is making? “Please keep buying gold, because this company is paying me a hell of a lot of money to convince you it is a good idea.”

Certainly his paycheck would be motivation enough for Beck to hawk this, but I also believe he is so self-absorbed that he hopes some catastrophic event will happen that will make gold an invaluable possession. He is hoping for an apocalyptic moment so he can say ‘I told you so’ in regard to all of his ‘end of time’-type conspiracy predictions.

He has been preaching it for years, and his success and popularity seem to be seeping into his brain, leading him to a sort of messianic complex.

At a bare minimum he is now starting to believe his own B.S.. Why not? So many other people believe it, it must be true.

Sorry Glenn, gold will not buy your way out of a catastrophe. Food and, more especially water, are the first things people will want/need when that time comes.

If gold were a magic bullet in the face of every economic downturn, his company would never sell it, they would just keep it, and buy even more.

But they sell and sell and sell, at inflated prices, to rubes, the type of rubes who think Beck is a wise man, rather than a nutcase.

I hope the gold tastes good.

(1 votes, average: 5.00 out of 5)

 Loading ...