Back in May, Rep. Anthony Weiner (D-N.Y.) made himself political point-man for a left-wing attack on Goldline — which just coincidentally happens to be one of Glenn Beck’s few remaining advertisers. (Beck’s show is the No. 1 cable news program in its time slot, but has lost advertising revenue because of the Left’s vitriolic boycott campaign.)
Weiner said that Goldline “takes advantage of fears about President Barack Obama’s stewardship of the economy — which are stoked by its stable of paid conservative endorsers including Beck, Mark Levin, Laura Ingraham and Fred Thompson — ‘to cheat consumers.'”
What Weiner and his allies on the Left were saying is that, because Goldline advertised on Beck, it was wrong for Beck to tell his viewers that gold is a wise investment in a time of economic instability. But I advised:
Everybody Should Buy Gold, Even If
Glenn Beck Gets Paid to Tell You So
Gold was then selling at $1,192 an ounce. And now? How does $1,399 an ounce sound to you?
So if you had listened to Glenn Beck and bought gold in May — when Anthony Weiner was telling you that Beck was part of a scheme “to cheat consumers” — your investment would have made you a profit of 17.4% in six months. And check out the news today:
Gold gained in New York as European debt concerns spurred demand for a protection of wealth and as faster inflation in China boosted demand for commodities.
Gold futures climbed to a record $1,424.30 an ounce on Nov. 9 on concern that some European governments may struggle to raise funds. Portuguese and Spanish government bonds declined on mounting concern that nations on Europe’s periphery will be forced to restructure their debt. All six main industrial metals on the London Metal Exchange gained after China’s inflation reached a two-year high.
“The re-emergence of sovereign risk should ultimately help the yellow metal,” Edel Tully, an analyst at UBS AG in London, said in a report. “Rising inflation is one of the single biggest factors driving China’s appetite for gold.”
Did you catch that? Now the Chinese are buying gold.
Maybe they’re watching Glenn Beck in Beijing.
UPDATE: Malice or incompetence? “It’s almost as if the Feds are purposely trying to destroy our currency. That, or they have no clue what they’re doing.”
UPDATE II: Five weeks ago, I suggested that rising stock market indexes were actually a reflection of inflation: Stocks were going up in dollar amounts, because the dollar was losing value. Now, via Instapundit:
“By pushing the dollar down 15%, the Fed managed to goose the S&P 500 by 19% since June 1. Stated that way, the leap in stocks can be seen as mostly the result of the Fed’s eradication of the dollar’s purchasing power. Priced in wheat, which has soared 71% since June, then the U.S. stock market has woefully underperformed.”
In the long run, markets cannot be deceived.
UPDATE: Welcome, Ace of Spades HQ Morons. And I mean “moron” as a compliment, having done quite a bit of commenting there over the years, occasionally under such pseudonyms as “Chuck Norris’ Left Testicle.”



