I have never understood why people support Glen Beck. He is the worst kind of con artist, an obvious one.
Beck spends a lot of his time telling us just how bad the Democrats are ruining the country. According to him, the economy is due to catastrophically collapse any minute. His solution for people is for them to buy gold, because when the economy collapses and money is worthless, gold will be the only thing that will hold its value. So of course he is in the business of selling gold. he is making a fortune off convincing people the economy is tanking when he doesn't believe it himself.
Why is it obvious he doesn't believe it? Several reasons. First and foremost, if he really believed it, he would not be selling his gold. He would be keeping it for himself. Moreover, he would not be taking currency for his gold because, according to him, all that currency that he is working so hard to collect, is going to soon be worthless.
Continuing on, a little basic economy research indicates that gold is a good investment when the market is low, but a very bad investment when the market is going up. The gold brokers know this, so when they are pushing gold, that should be a sign that they think the economy is going to improve. The thing is, you want to buy gold when the economy is good, because the price of gold tends to be low, so when the economy tanks, you can sell it for a great price. This is what the gold brokers are doing. They are trying to get people to buy it now because they, NOT YOU, are going to make a killing. Gold is really high right now, the brokers like Beck will make a fortune if you buy it now.
The other thing I fail to see why people don't question, is if the economy tanks and currency becomes worthless, why do people think gold is going to be any better? When people are desperate, they are interested in food, clothing, shelter, and power. Gold will do none of these things. It is no better than currency when it comes down to it. If you really thought the economy was going to collapse, gold would not be what you would be stocking up on. You would find a place that you could grow your own food, buy some goats (easier to take care of than cows) or sheep, and invest in ways to take your home off the electrical grid. You would be adding solar power, geothermal, and/or other green energy sources that would supply you with all the power you need. You would be learning medical skills and engineering.
What you would NOT be doing is amassing a hoard of worthless yellow minerals. Obtain knowledge, don't waste your time on worthless bling. You can't eat gold, it won't keep you warm at night, it won't even keep the rain off your head. Gold has worth only because people are willing to buy it to show how wealthy they are. But that wealth only has worth in a functioning economy.
Glen Beck obviously really thinks the economy is doing ok, ar at least well enough that your money will still buy him lots of stuff and that it will continue to do so in the forseeable future. Don't be an idiot. Keep your money.
ADDENDUM: I actually forgot the other huge thing that points to Beck being a liar in this situation. He doesn't want people to gold bullion. He wants people to buy rare gold coins that are vastly overpriced. How much overpriced? As much as 10x the real value of the gold. Here is a great infographic that shows just how badly Beck is lying: http://www.ritholtz.com/blog/2010/07/glenn-beck-goldline/
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