Tuesday, May 18, 2010

Weiner McCarthy-ing Goldline and Glenn Beck

Via JammieWearingFool.

This is truly pathetic. It ranks right up there with Chuck-U Schumer's rant against $25 carry on bag fees and Henry Waxman's trumped up "investigation" of companies announcing chargeoffs after Obamacare passed. But Weiner doesn't seem to think that Americans are very smart. I'm not a Goldline customer and only an occasional listener/viewer of Glenn Beck. I am however, quite conservative. Right-leaning talk radio listeners are among the most highly-educated and intelligent audiences in media.

I honestly don't know what Weiner hopes to gain from this little charade of his. The people who hate Glenn Beck and other conservative talkers sponsored by Goldline aren't going to hate them any less strongly than they already do, and the people who buy hard assets do it because they're willing buyers in an open market. If anything, stunts like this only drive more listeners and viewers to the subjects of the controversy, which increases ratings and draws more advertisers like Lear Capital, for example.

Extra Point: I'm hesitant to put money in any asset trading at or near its all-time high. It doesn't mean that it's not going higher, but if a global financial crisis does strike, the most likely event will be a flight to the safety of US dollar denominated assets. That would drive the dollar higher and could cause a bit of a gold bubble burst.


Anonymous said...

In the event of a global financial crisis, it would likely be caused by a collapse of the U.S. Dollar! Therefore, gold would and should be the play.