The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Everybody Should Buy Gold, Even If Glenn Beck Gets Paid to Tell You So

Posted on | May 20, 2010 | 41 Comments

Look, the Dow Jones Industrial Average lost more than 300 points today, and the DJIA is down more than 1,130 points since closing at 11,205 on April 26. The Greek debt crisis is pulling down the European economy, more than 700 U.S. banks are now on the FDIC “troubled” list, and concern about a “double-dip” recession is becoming mainstream. Now, let’s look at this chart of gold prices over the past five years:

If you were investing in real estate or plowing your 401(k) into stocks five years ago, don’t you wish you’d bought gold instead? Yet according to Democrats, it is somehow wrong for Glenn Beck to tell you about this, because his advertisers happen to share the same opinion:

“On numerous occasions, Glenn Beck has dedicated entire segments of his program to explaining why the U.S. money supply is destined for hyperinflation with Barack Obama as president. He will often promote the purchase of gold as the only safe investment alternative for consumers who want to safeguard their livelihoods. When the show cuts to commercial break, viewers are treated to an advertisement from Goldline . . .”

If you’re a Beck fan, you know that the guy who is trying to make this into a “scandal” is Rep. Anthony Weiner (D-Ouchenozzle), and that Beck has responded by launching a new Web site, WeinerFacts.com.

While you’re reading this blog, by the way, be sure to enjoy a cold refreshing Corona ExtraTM beer.

As my blogger friends know, I don’t actually drink beer, but I always make a point of having a delicious Corona beer in my hand when I’m photographed at a party, because I’m trying to get a product-placement deal with the Mexican beer cartel.

So far, I have not been able to persuade the manufacturers of Corona that making me their officially sponsored right-wing blogger would be good for business, and Anheuser-Busch also nixed my pitch, which is why I stopped drinking pretending to drink Budweiser.

Some readers may be asking themselves, “Is it legal for Stacy to pimp himself out to advertisers so shamelessly? Couldn’t he be arrested for that?”

Not to worry, dear readers. I have consulted the nation’s finest legal mind, Professor Glenn Reynolds, who informs me that I am perfectly within my rights.

If you want to attend a fine law school, the University of Tennessee has an excellent faculty. While visiting beautiful East Tennessee, be sure to stop by Granny’s Fireworks at 1948 Bristol Highway in Watauga, where you’ll find the finest products at the lowest prices. And if you want me to shut up with these shameless product pitches, just hit the tip jar.

Silence is golden, IYKWIMAITYD.

UPDATE: Oh, look: “Financial reform” just cleared the cloture hurdle in the Senate! Doesn’t that inspire you to invest more money in Wall Street?

Of course not. Buy more gold immediately. And hit the tip jar, because this kind of excellent (but entirely unofficial) financial advice has got to be worth something.

UPDATE II: Doug Powers:

I have a strange feeling that my 401K is about to sink so low tomorrow that it may well put the final plug on the Gulf oil leak.

Anybody want to suggest an over/under on how many points the DJIA loses Friday? It hasn’t closed under 10,000 since February 8, so the prospect of 100 days of gains being wiped out . . . Hey, how’s that Hope and Change workin’ out for ya?

And thank you, Scott Brown – you’re on your way to becoming the Arlen Specter of Massachusetts.

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Category: Economics, Glenn Beck

Comments

  • Miss Sharon

    How I yearn for the days of a good old fashion story about a girl named Tonya…

  • Miss Sharon

    How I yearn for the days of a good old fashion story about a girl named Tonya…

  • JeffS

    Good Lord, THIS is the “scandal” that everyone was noodling over yesterday?

    Snore.

  • JeffS

    Good Lord, THIS is the “scandal” that everyone was noodling over yesterday?

    Snore.

  • http://flyoverlibertarian.blogspot.com TAS

    I think it’s wonderful that liberals hate the idea of people buying gold and are attacking the idea of buying it. They are just making it cheaper for the rest of us by lowering the demand.

  • http://flyoverlibertarian.blogspot.com TAS

    I think it’s wonderful that liberals hate the idea of people buying gold and are attacking the idea of buying it. They are just making it cheaper for the rest of us by lowering the demand.

  • Joe

    That Glenn Beck, he is just crazy telling people to buy gold.

    Better a safe investiment like all those liberal institutions going with Bernie Maddoff.

  • Joe

    That Glenn Beck, he is just crazy telling people to buy gold.

    Better a safe investiment like all those liberal institutions going with Bernie Maddoff.

  • http://proof-proofpositive.blogspot.com/ proof

    You might want to do some color correction on your beer bottle, Stacy. I’m not sure that Corona is supposed to be the color of moose whiz!
    Not that I’m an expert on the subject… (moose whiz, not beer!) …it’s just how many times do you get to say “moose whiz” in one comment?

  • http://proof-proofpositive.blogspot.com/ proof

    You might want to do some color correction on your beer bottle, Stacy. I’m not sure that Corona is supposed to be the color of moose whiz!
    Not that I’m an expert on the subject… (moose whiz, not beer!) …it’s just how many times do you get to say “moose whiz” in one comment?

  • http://the-classic-liberal.com/ theCL

    Another bullish indicator on gold … David Frum thinks it’s in a bubble.

    Of course, Frum doesn’t understand what a financial bubble is.

  • http://the-classic-liberal.com/ theCL

    Another bullish indicator on gold … David Frum thinks it’s in a bubble.

    Of course, Frum doesn’t understand what a financial bubble is.

  • http://theothermccain.com Robert Stacy McCain

    How I yearn for the days of a good old fashion story about a girl named Tonya . . .

    For the benefit of new readers: Hembree’s Law stipulates that All Girls Named Tonya Are Sluts.

  • http://theothermccain.com Robert Stacy McCain

    How I yearn for the days of a good old fashion story about a girl named Tonya . . .

    For the benefit of new readers: Hembree’s Law stipulates that All Girls Named Tonya Are Sluts.

  • http://thecampofthesaints.wordpress.com Bob Belvedere

    Say…If you want more details on the fascist moves by Rep. Anthony Whiner Weiner, check out the latest episode of La Cosa Obama Chronicles: The Pelosi Family at The Camp Of The Saints – where Right Wing-itude is our middle name!

    …And while you’re reading my post, why not enjoy a nice cold, refreshing Coca Cola – blogs go better with Coke!

    If you act now, I’ll include A Little Hump Day Rule 5 at no extra charge! [you only pay shipping and handling]

    Offer not valid in Iran.

  • http://thecampofthesaints.wordpress.com Bob Belvedere

    Say…If you want more details on the fascist moves by Rep. Anthony Whiner Weiner, check out the latest episode of La Cosa Obama Chronicles: The Pelosi Family at The Camp Of The Saints – where Right Wing-itude is our middle name!

    …And while you’re reading my post, why not enjoy a nice cold, refreshing Coca Cola – blogs go better with Coke!

    If you act now, I’ll include A Little Hump Day Rule 5 at no extra charge! [you only pay shipping and handling]

    Offer not valid in Iran.

  • http://prescienceblog.com tadcf

    Only problem is that Glenn Beck–as I understand the situation–is advising his listeners to buy some gold coins from his sponsor at twice or more time the cost of pure gold. Does that make sense?

    tadcf@prescienceblog.com

  • http://prescienceblog.com tadcf

    Only problem is that Glenn Beck–as I understand the situation–is advising his listeners to buy some gold coins from his sponsor at twice or more time the cost of pure gold. Does that make sense?

    tadcf@prescienceblog.com

  • http://lonelyconservative.com Lonely Conservative

    I bought gold in October 08 when it looked like Obama would win the election. Turns out it was a pretty good bet.

  • http://lonelyconservative.com Lonely Conservative

    I bought gold in October 08 when it looked like Obama would win the election. Turns out it was a pretty good bet.

  • count vikula

    I’d like to give a shout-out to Congressman Paul whose campaign converged at the start of my career going positive free cashflow back in 2007 and his advisement to have a lil’ gold.

  • count vikula

    I’d like to give a shout-out to Congressman Paul whose campaign converged at the start of my career going positive free cashflow back in 2007 and his advisement to have a lil’ gold.

  • Rich Fader

    What do you guys think Corona is?

    (Boys and girls, trust me on this: Negra Modelo. You’ll thank me.)

  • Rich Fader

    What do you guys think Corona is?

    (Boys and girls, trust me on this: Negra Modelo. You’ll thank me.)

  • Estragon

    Ron Paul has been advising people to buy gold for decades. Perhaps not coincidentally, virtually all of his personal wealth has also been in gold and gold mining stocks, so whenever gold goes up, his own holdings do, too.

    If a talking head on the financial networks failed to disclose such a conflict of interest they would be taken off the air. But the rules don’t apply to Ron Paul – it is much like the way he has always railed against spending, but made sure all his own pork and earmarks were safely in the final bill and sure to pass by a wide bipartisan margin before voting “NO” and bragging about opposing spending.

    But yes, advising people to buy something very close to its all time high is always very sound advice. NOT!

  • Estragon

    Ron Paul has been advising people to buy gold for decades. Perhaps not coincidentally, virtually all of his personal wealth has also been in gold and gold mining stocks, so whenever gold goes up, his own holdings do, too.

    If a talking head on the financial networks failed to disclose such a conflict of interest they would be taken off the air. But the rules don’t apply to Ron Paul – it is much like the way he has always railed against spending, but made sure all his own pork and earmarks were safely in the final bill and sure to pass by a wide bipartisan margin before voting “NO” and bragging about opposing spending.

    But yes, advising people to buy something very close to its all time high is always very sound advice. NOT!

  • http://www.leftbankofthecharles.com/ Charles

    Personally, I’m stocking up on cases of Corona. If things really go to pieces us beer hoarders will be able to trade for all the gold in the world.

  • http://www.leftbankofthecharles.com/ Charles

    Personally, I’m stocking up on cases of Corona. If things really go to pieces us beer hoarders will be able to trade for all the gold in the world.

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  • http://jfxgillis.newsvine.com jfxgillis

    Stacy:

    “And thank you, Scott Brown – you’re on your way to becoming the Arlen Specter of Massachusetts.”

    LAUGH! He was on his way there back in January when you were orgiastically fantasizing about him up in Norwood. Did you think Massachusetts suddenly turned into rural Virginia just because you wanted it to?

    Next up: Card Check. If Brown does screw you right-wingers on Card Check, I might even vote for him in 2012.

  • http://jfxgillis.newsvine.com jfxgillis

    Stacy:

    “And thank you, Scott Brown – you’re on your way to becoming the Arlen Specter of Massachusetts.”

    LAUGH! He was on his way there back in January when you were orgiastically fantasizing about him up in Norwood. Did you think Massachusetts suddenly turned into rural Virginia just because you wanted it to?

    Next up: Card Check. If Brown does screw you right-wingers on Card Check, I might even vote for him in 2012.

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  • http://ak4mc.us/cms/ ak4mc

    Buying gold is a good bet — as long as BHO doesn’t follow FDR’s example. Anybody here really willing to put it past him?

    Me, I’m investing in brass.

  • http://ak4mc.us/cms/ ak4mc

    Buying gold is a good bet — as long as BHO doesn’t follow FDR’s example. Anybody here really willing to put it past him?

    Me, I’m investing in brass.

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  • taryn

    It would be a real shame if Glenn Beck’s sponsor had to properly disclose the value of ‘investment’ they’re promoting.

  • taryn

    It would be a real shame if Glenn Beck’s sponsor had to properly disclose the value of ‘investment’ they’re promoting.

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