Stewart lambastes Glenn Beck for his gold-standard conflict of interest
Oh what fun: Jon Stewart rips into Glenn Beck for his manifest lack of ethics in promoting gold as an investment on his program.
YahooNews's Brett Michael Dykes explained it in some detail:
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.
Glenn Beck also regularly talks up gold on his nationally syndicated radio show, where he often endorses Goldline during live commercial segments. Additionally, Beck has had the company's CEO on as a guest. Advertisements for Goldline are also featured prominently on Beck's own website, where he recently promoted gold in an audio clip warning of an apocalyptic future:
When the system eventually collapses, and the government comes with guns and confiscates, you know, everything in your home and all your possessions, and then you fight off the raving mad cannibalistic crowds that Ted Turner talked about, don't come crying to me. I told you: get gold.
And as James Rainey explained at the LA Times, he may be leading a lot of people down a financial garden path:
Beck, true to form, has not been subtle in making his pitch. He has appealed to listeners to "think like a German Jew" during the period of Nazi ascendance. "I think people are running out of options," he said, "of something that could be worth something at all."
The alternative? Gold. Beck touts his personal investments in the metal and, though he has offered cautionary notes, he leaves no doubt about his bottom line.
"If you have been watching for any length of time and you still haven't looked into buying gold, what's wrong with you?" Beck asks on a video on his personal website. Those not following his advice, he adds, are "nuts."
Buying gold during economic hard times is not, to be sure, a new concept. In the current recession, it's a strategy that has been embraced by many mainstream investors.
My colleague Tom Petruno has written of how some economic wizards -- including David Einhorn of Greenlight Capital, predictor of last year's financial swoon -- have replaced some of the cash in their portfolios with gold.
But even some of those who have been making lots of money selling gold concede that the appeal goes beyond mere reason. Peter Epstein, president of Merit Financial Services, told Politico that his firm had advertised on CNN but that the gold message resonated more with Fox's viewers "because it's the angry white man audience -- it's the conservative audience. . . . They are distrustful of the government, of the regime."
That sort of thinking might not lead to the soundest decisions, some gold professionals told me.
"When people buy into the fear and flock into one thing, it's only a matter of time before it turns," said Matt Zeman, a metals trader at Chicago-based LaSalle Futures Group. Indeed, since last week's high of $1,218, gold had dropped Tuesday to $1,143, Zeman noted, adding: "I think the wheels could really come off the gold bandwagon."
Actually, Beck is promoting Ron Paul's extremist brand of libertarianism by promoting the "gold standard." It's been a sucker play for the Far Far Right for many years, and now it's being promoted by a mainstream news entity.
Snail Mail:
Crooksandliars.com
POBOX 66310
Los Angeles, CA 90066
Beck = comedy Gold...
Funny how the end-timers are in to long term investments
...if you didnt make that up ...you should have.
I'm Boycotting NewsCorp! Heres what not to buy: http://www.cjr.org/resources/index.php?c=news...
it's just a part of their bizarro script that they adhere to.
... I think gold could end up looking pretty worthless to starving people in comparison with a good supply of food. I don't think gold bakes or fries up real well.
embarrassing to watch, he hucksters gold like a used car salesmen. Too bad because it’s really a good store of wealth and has held up quite well. But people should know Beck is not influencing the price of gold and silver, the US FED is by debasing our currency. Gold actually isn’t going up in value; the dollar’s value is falling against gold. If it was such a bad asset do you think India would have acquired 200 tons of it at over $1,000 an ounce? If it was a sham would China, Russia, and large fund managers like BlackRock all be buying gold like they are?
David you say “It's been a sucker play for the Far Far Right for many years, and now it's being promoted by a mainstream news entity.” That is flat wrong, you don’t understand the history of money, gold and silver are going up on a global scale, not just the US. A simple review of the long term trend proves you wrong.
As the FED keeps doing this
US monetary base since 1918, the printing press in overdrive
Gold will keep doing this
Gold 10 year chart
We’re in big trouble and seems like a lot of people on the left don’t see the elephant in the room.
Goodnight, Frau Blücher
you conveniently only show the last 10 years. Let's see what happened if you look at the last 25 years.
The economy came to the brink of an economic collapse then, gold did what it always does in economic crisis then as well. You need to understand what you are looking at and know the history behind it.
The 10 year chart on Kitco is a standard chart on the home page, that's why I picked it. Not because I was trying to hide what occurred in the 80's.
Goodnight, Frau Blücher
China and India are also hording lots of precious metals because the new energy products will require those materials.
Gold is hoarded, it's overwhelming use is in jewelery. The vast majority of gold dug up remains in the possession of people. Silver has industrial uses but it also has a monetary use as well. China ran on a silver standard not all that long ago, and it was in US coins until 1970. India's primary use of gold is in marriage dowry's, the people of India hold the largest amount of gold among the people with nearly 13,000 tons. Silver is much smaller market than gold and there is a huge shortage now above ground, that market has greater potential than gold.
Goodnight, Frau Blücher
... but on this post (at least with my browser) it kind of looks like Crooks and Liars is part of the gold scam. lol.
Corruption favors the wealthy.
December of all months . .
It's not like C&L (or any lefty blogs I visit) really hit you over the head with it.
I was just talking about the positioning of the address after the post. Like someone would buy gold from an outfit openly called Crooks and Liars... still makes me smile.
Corruption favors the wealthy.
But I certainly appreciate this site.
Thanks for all you do John. It's gotta be a pain in the ass sometimes.
What is your conceptual, continuity?
But Beck's still a jagoff.
is intended to be a factual statement
Doesn't sound like a conflict of interest to me
But a direct tie in
And probably illegal, at least the non-disclosure part.
Diabolus est Deus Inversus
gold, yes, but blowing every news story out of proportion and scaring the bejesus out of his guillible audience (who then turn around and buy gold), may be something else.
It looks to me like there are people who have a vested financial interest in people believing in the NWO or some other end-times conspiracy. I think I may have seen an ad on Blech's site itself once (I don't remember why I was even there) or somewhere else, for these survivalist/end-times gardening supplies...tons of seed and such for hundreds of dollars because the target audience's access to food would be "taken away" from them so they needed to grow their own supply. I wonder how well that person's buisness is doing...
I've never seen change without a fire
...Weiner Savage doing the same thing on his awesome radio xtravaganzaaa@!\?
I'm Boycotting NewsCorp! Heres what not to buy: http://www.cjr.org/resources/index.php?c=news...
talk radio I ever hear is the clips on here, or when the town wingnut bus driver is driving the route I'm on and I don't have my iPod to drown the yacking out.
Edit - The bus driver usually listens to talk radio when he's driving the bus. Only on rare occasions will he put on country music or easy listening or something...
I've never seen change without a fire
I'd call it "insider trading" if anything.
Okay, I don't know whether to roll on the floor laughing my ass off or stick to perfectionism - pessimism, seasoned with a sprig of clinical depression.
{ Deleted, Then go watch tv.SiteMonitor}
Even Santa's unemployed this year and ringing a bell for the Salvation Army at the local hardware store.
..the tears, OK? I already hear enough already.
I just finished watching Miracle On 34th Street.
It always gives me mixed reactions
Of higher ideals
And horniness
For Maureen O' Hara.
(Is it borderline homoerotocism since since she has broader shoulders than John Payne?)
Diabolus est Deus Inversus
http://www.youtube.com/watch?v=a7oGGP0BWYE
(Somehow I've always identified with that laugh).
http://www.youtube.com/watch?v=DH9kN-wjGFA
(Earlier part of the movie).
Diabolus est Deus Inversus
Glenn Beck's initials, G B.
Glenn Beck
or
Gold Bug
or
Gold Brick
maybe
Gilded Buffoon
?????
Gold Bond (Powder)
I've never seen change without a fire
George Bush (gag)
*
I've never seen change without a fire
hhhmmmmmm George Bush... Glen Beck...
coincidence?
where's my chalk-board?
of TDS was "fucking golden!"
I've never seen change without a fire
thread...
I know the staff has got this though. :)
I've never seen change without a fire
If this nation really did experience an economic collapse, how would Beck survive? Would he EAT his gold? Who's going to have food or water to TRADE for Beck's gold?
Beck is more than laughable. He's dangerously stoopid.
gardens too, mainly this company here:
http://survivalseedbank.com/
I've never seen change without a fire
will give me giant tomatoes...
"Parachutes are allowed in checked or carry-on baggage, but may not be worn in flight."
---Southwest Airlines
say
Corruption favors the wealthy.
plants instead!
I've never seen change without a fire
You busted up my tomato joke :)
Corruption favors the wealthy.
*
I've never seen change without a fire
:)
Corruption favors the wealthy.
will give me giant tomatoes...
"Parachutes are allowed in checked or carry-on baggage, but may not be worn in flight."
---Southwest Airlines
twice?
Someone's way too concerned about their tomatoes.
:)
Corruption favors the wealthy.
Priorities...
"Parachutes are allowed in checked or carry-on baggage, but may not be worn in flight."
---Southwest Airlines
and true you can't eat gold and silver, but the people who sell food might one day not accept dollars for the food you buy. Not all that far fetched when you look at how many dollars have been printed and the fact China, India, Saudi Arabia and Japan are all starting to unload their dollars.
Goodnight, Frau Blücher
Can't imagine why..:snark:
If these guys believe the economy is so fragile that we need to be getting out of US $$'s and into gold. Why are they selling us their gold and getting into US $$'s?
... Glen Beck's suckers will never see.
Just a guess.
Corruption favors the wealthy.
Beck is playing the age old art of snake oil salesman and the fact that he and many other clowns at Fux continue to peddle this sh!t only proves that there are plenty of dumb-ass Americans out there!
"When the system eventually collapses, and the government comes with guns and confiscates, you know, everything in your home and all your possessions, and then you fight off the raving mad cannibalistic crowds that Ted Turner talked about, don't come crying to me. I told you: get gold."
WTF -- hysteria much?? No wonder Beck's so arrogant and bombastic -- it's comments like this which make it easy to see that deep down underneath all of Beck's bluster, there's a virtually bottomless pit of terror and insecurity, just as there often is inside most blowhards like him. Not to mention the fact that if the country or the world degenerates to such an extent that the Law Of The Jungle is the only one left in force and human beings have begun resorting to cannibalism in order to stay alive...intelligent people know that gold really isn't likely to be of much use to you at that point! At times when critical resources are that low, survival becomes paramount and all other priorities get rescinded. After all, gold has no real inherent value apart from that which people have historically ascribed to it. If there should ever come a point when food becomes that scarce, gold won't be any help...you can't eat it, and people who have no idea when (or if) they'll eat again aren't likely to have much thought to spare for accumulating discretionary income.
I've known for a long time now that Beck is something of a nitwit -- but this latest bit really takes the cake, and does nothing except convince me that he's completely out to lunch.
Never trust anyone who insists that patriotism requires you to blindfold yourself with the flag.
Actually, Beck's crazed fearmongering about monetary collapse aside, there are real reasons why gold is expensive - it's running out. Besides being valued for jewelry and such, it's an important industrial metal, and it's been sought after for so long that it's been exhausted in most of the world.
Gold is held back. It's "value" (i.e. "price") is artificial. Not like it's pebbles in the street, but the gold supply is controlled by very few players - whose hoardes' value very much depend on their hoarding.
Corruption favors the wealthy.
...but with all due respect, I don't think you see the point. The hypothetical catastrophic scenario which Beck is using to manipulate people to buy and hoard gold as a form of insurance against calamity is the very situation in which gold would be least useful. If civilization were ever to collapse to the extent that Beck is describing, to the point that a majority of human beings chose (either voluntarily or under duress) to abandon all other laws except "Tooth And Nail", the possibility of much organized industry -- never mind more technological industries which would require the use of gold -- still being in operation seems remote at best. As I said before, when circumstances have become so dire that continued survival for a majority of people has ceased to be a a reasonable certainty (never mind a sure thing), everything else becomes trivia. That's the point at which gold will for the most part cease to have value for much people and simply become something shiny and heavy which used to be meaningful.
Granted, a large part of what makes gold so expensive is its rarity...but even the fact that it has practical applications for industry doesn't change the fact that it has little inherent virtue apart from the value which we have chosen to place on it. In contrast, it can be argued that commodities like food and water have inherent value because they're essential to survival whereas gold is not. Under Beck's scenario, any remaining trade of goods and services would be far more likely to take place via barter rather than payment in gold because most rational people would in the end elect (even if only by necessity) to be alive and practical rather than frivolous and dead.
Never trust anyone who insists that patriotism requires you to blindfold yourself with the flag.
Would never happen. 1st of all, we're talkin Beck.
2ndly,if there was such a collapse, martial law would be declared. And the govt would more than likely seize all the gold. People would more than likely get a receipt for partial value.
Gold has and is always a good hedge against inflation.
It's always been the standard by which monetary value is compared too. Gold is always the safest bet. That and Platinum.
Diamonds work too.
But we're talkin a scenario from within Becks head.
Which just makes the whole thing ludicrous.
IF this were to happen. Govt take over would happen and rationing foods and water and even gasoline would take place.
Otherwise, mayhem would ensue.
What is your conceptual, continuity?
http://www.youtube.com/watch?v=GPeB6kGxWY0
Diabolus est Deus Inversus
i'm exactly zero a fan of Beck, but what irks me even more is my local "so-called" progressive KTPK-AM 1090 in Seattle, where between discourse about serious subjects listeners are subjected to "pay off your 30 year mortgage in... wait for it... 2 1/2 years"... yeah, like these schemes are the foundation of progressive commerce. And don't tell me "they gotta pay their bills" cuz the reality is these so-called progressive stations are owned by media companies with holdings across the spectrum of ideological formats. Hard to take a commitment to progressive causes seriously when the claimant also owns hard right-wing stations. And when Thom Hartmann's show breaks and i hear him railing about "Gold's headed to $2000" and "Gold is the only real money" and "the dollars future is already baked into the cake" -- HIS words -- i kid you not, well, then HE is just as big a whore as Beck.
Let's just admit, even so-called Progressive radio stations many times are no more than mere Gatekeepers, owned by major media corporations, staffed by people who consider themselves 'media elite'... and these blogs, like the crew Amato has amassed, just aren't in it for the same reasons as "corporate media"
Blogs such as C&L desire and deserve our support, and something tells me the motive of Amato's crew here is not to eventually live in gated communities, you know, after Obama ruins the world, the dollar collapses, blah blah blah.
What say you, Thom?
OK, I'm a flame. But i just chipped in. Why not do the same?
your name's Lebowski, Lebowski... and your wife is Bunny
I was wondering when someone would mention Thom, and Ed, and the rest of the left side of talk radio that hawk gold as well as the "debt reduction" scams..... I wouldn't be as offended if it were just recorded ads, but they actually do some of the ads themselves. Ed Schultz, who I like normally, hawks gold pretty aggressively...
I've been noticing this trend for a long time. Gold always shoots up during recessions and then drops pretty rapidly once the economy is moving again, but I don't think there has ever been something quite like this before, where you literally have people with vested interests drumming up gold for their own gain. I would feel sorry for all these Beck followers who are going to loose at the very least 20% on there investments in gold when they have to sell it eventually if they ever want to actually make money on that money, that is, if they weren't the most pathetic group of idiots I've ever gotten to know through the internet.
I mean, these people aren't really this stupid are they? They are really this ignorant on how trends work? Do they even look at the trend lines and notice that gold is obviously at a peak right now and you'd have to be an idiot to invest in it?
The key to making money in the stock market is to be ahead of the heard/trend mentality of Wall Street. You have to find a stock that everyone else is ignoring and who is on the verge of releasing a huge product that everyone else is ignoring. Just like artists have to capture popular sentiment to write a hit song, investing is all about grabbing the future by the eyes.
Well, unless your a "too big to fail" Frankenstein bank like Goldman. If that's the case you simply just invent value and wealth because your soooo smart.
I don't like Beck at all, but the funny thing is that the price of gold increases on average 17% in the last few years..go figure.
Glen Beck's newest sponsor is a company selling seed banks and food insurance..I can't find the exact links,but something similar to those:
http://survivalseeds.vegetable-gardening-guid...
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