It seems that Glenn Beck’s pleas that his audience invest in gold might just have something to do with Glenn Beck’s endorsement deal with a gold vendor:
For some time Beck critics have cried foul over his relationship with Goldline International, a precious metals vendor that features the TV and radio host’s endorsement prominently on their website. Critics charge that Beck is guilty of misleading his audience by often advising them to purchase gold in advance of the potential collapse of the value of the dollar on the world currency market, without disclosing that he is in fact a “paid spokesman” for Goldline. Beck’s on-air promotion of gold, which includes advising viewers to construct “fruit cellars” and to rely on a “three G system” of “God, Gold, and Guns” in the event of America’s collapse, dates back to his time as a host for CNN Headline News.
Over here you can watch a clip where Glenn Beck accuses the Obama administration of “trying to destroy the dollar.” And Yahoo News reports that Beck has also claimed that when “the government comes with guns and confiscates, you know, everything in your home” and you’re forced to “fight off the raving mad cannibalistic crowds,” you’ll need gold to…um…save you?
The story goes that Rockefeller pulled out of the stock market just prior to its collapse, knowing full well that if the shoe shine boy was offering stock tips, the market was overbought.
When Glenn Beck and George Noory are telling me to invest in gold, I suspect now is NOT the time to invest in that market. I am curious to see if that market can collapse – it is, after all, gold.
In a post-apocalyptic scenario, gold isn’t going to get you anywhere. Better to invest in cigarettes and small bottles of whiskey. They’re a lot more portable anyway.
Gold is getting ready to crash. Puts are going through the roof. I’ll bet Beck is getting paid in dollars, not gold, though, so he should be OK.
The way his audience’s psychpathology works, though, when they all lose their shirts on their stupid gold “investments”, they’ll blame Obama, not Beck.
Its too bad Gold isn’t a security other wise Beck would be in actual trouble.
“God, Gold, and Guns”,
ahhh yes, the idiots GGG.
the Beckheads deserve what they get.
@3 If you’re right – about the gold market collapsing – I’m going to wait until it hits bottom and buy a shitload of affordable gold from newly impoverished idiots.
Just so I can roll around in it like Scrooge McDuck. And wait until the next panic-driven market bubble.
I’m on some annoying libertarian list-serv that I can’t get removed from, despite repeated attempts. I rarely read any of their insane letters to each other, but from the subject line, 99% of them revolve around:
1. Bashing Obama and dems for everything under the sun.
2. Buying gold
3. Buying guns and ammo
4. Fear of muslims and Islam
5. Boycotting stores that won’t say “Christmas”
And they don’t send these things in jest or sarcasm either… they’re totally, completely serious.
@2 is correct: In a real “shit really hits the fan” scenario, you can’t eat gold. Guns and ammo, yes, but also things like booze, cigarettes, coffee, sugar, salt. Those things would literally be worth their weight in gold. If it ever happened, which of course it won’t.
I guess you could bludgeon someone with a brick of gold if times got really desperate.
@9- The Man or Woman that can pick up a gold brick and bludgeon someone with it is strong enough to kick the crap out of anybody without the need of said gold brick.
Not the first time a sanctimonious, bloviating media personality tried to make a mint by using their position to raise the price of gold.
Back in the 1930’s Fr. Coughlin, a pro-fascist, anti-semitic radio personality with a huge following, urged his listeners to lobby for the government to devalue the dollar and move to a silver standard — both of which would have sent the price of gold skyward. It was soon discovered that his personal secretary had bought 500,000 ounces of gold futures.