Yet another reason why gold as a currency is primitive. I can transfer cash electronically with a few clicks.
October 29, 2012 | AP
Showing posts with label gold bugs. Show all posts
Showing posts with label gold bugs. Show all posts
Monday, October 29, 2012
Bad news for gold bugs, but...
... good news for James Cameron's idle great-grandkids to-be. Now they'll have something to retrieve from the bottom of the Pacific someday.
Friday, August 24, 2012
GOP gold bugs, rejoice
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| Gold: It's gonna work this time, trust us! |
I'm sure this addition to the GOP platform has absolutely nothing to do with convincing Ron Paul's delegates not to wreak havoc from the floor of the Republican convention in Tampa. Nope, no siree.
August 23, 2012 | Reuters
Saturday, February 25, 2012
Glenn Beck's Goldline forced to refund $4.5 M... What about Beck?
ABC broke this story, and they mention that Goldline used Glenn Beck ("The people I trust are the people at Goldline".... "You see, back in 1933, FDR said, 'OK, we're gonna take all your gold...'"), and other conservative pundits and politicians (Mike Huckabee, Fred Thompson) to sell its overvalued gold coin business.
Goldline has agreed to refund $4.5 million to its customers and set up a fund of $800 K for further claims; in exchange a Santa Monica court dropped 19 criminal charges.
This is actually the second time a gold company advertised by Beck has run afoul of California law. I wonder if Glenn Beck, et al, will donate the revenues they received from Goldline?....
But this is about more than money. Goldline's pitch was based on a paranoid view that even buying gold wasn't safe, because the federal government could come and take it away. (Which is bogus, incidentally.) Without conservative talk radio and FOX, such paranoid beliefs would not be so widespread.
The real crime here is irresponsible talking heads leading millions of Americans to believe their government is fundamentally corrupt and out to get them. Too bad Goldline's celebrity accomplices like Glenn Beck don't have to pay any share of this settlement.
By Matthew Mosk
February 22, 2012 | ABC News
Monday, November 15, 2010
$ign of the (end?)times: Gold bug paranoia
I guess gold is like Glenn Beck's "Food Insurance," only in this case it would be "Money Insurance." The only thing is, if there is a total collapse of civilization like Beck predicts, then what are people going to need gold for? They can't eat it, can't build with it, it won't keep them warm, etc. That doesn't stop Beck from trying to fleece his herd with Goldline coin adverts though.
What Rush Limbaugh, Glenn Beck, Laura Ingraham, and other right-wing pundits are really asking their followers to do is to speculate in gold and pump up an existing bubble. As a commodity, gold doesn't produce anything so its value depends purely on trading. The more people who buy gold, the bigger the bubble gets, and the more they'll lose when the gold bubble invetiably bursts. (After all, Republicans will eventually take control of Washington, save America, and restore the dollar, right?) Of course, those in the know who got in early on this paranoia and will sell out before the bubble bursts could make a bundle. But are you that cunning, and did you buy gold early enough? If the answer to either is "no," then stay away from gold unless you're an eccentric millionaire.
Remember, gold is not a very good hedge against inflation, it's a hedge against calamity and instability.
Analysis: Here's why the world's love affair with gold is dangerous.
By David Case
November 10, 2010 | GlobalPost
By David Case
November 10, 2010 | GlobalPost
URL: http://www.globalpost.com/dispatch/101110/gold-investment-robert-zoellick
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