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 AnastomosisJihad
Hominid
Registered: 01/01/08
Posts: 700
Loc: Ohio
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 Glen Beck fomenting rebellion to sell Gold. 
#11410685 - 11/08/09 11:25 AM (14 years, 5 months ago) |
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I stopped by my parents house last week and they were watching Glen beck on TV. He had up two posters with pictures of "revolutionaries" on them. On the right were THE FOUNDING FATHERS and on his left were Obama's Revolutionaries. The point of his little comparison was that the founding fathers rebelled against the oppressive British empire, passing on to us a legacy of freedom, prosperity, apple pie, and all that good American stuff. Obama revolutionaries are trying to destroy that legacy of freedom and replace it with Socialism. His comparisons were anachronistic and overtly one sided. The founding fathers were all the most noble of men, but the new revolutionaries are all perverts and communists and idiots. He closes with something like "America is being destroyed folks and you have to stop it!"
It looked like Beck was calling for a second revolution, for good Americans to take up arms and fight the new tyrannical threat to liberty in Washington. Then he cuts to a commercial selling Gold. The commercial talked about the falling value of the dollar, America's waning influence, and the need for hard assets in the case of collapse. Gold is a great investment by the way because its price has quadrupled in the last few years.
The message of the commercial didn't make sense. If the dollar is ready to collapse, then why are the people with the Gold trying to trade their gold for dollars? If I had gold and I thought the dollar was going to be worthless pretty soon, then I would be inclined to keep my gold. But these Gold companies are paying Glen beck lots of money to help them trade gold for dollars. People selling gold are not expecting imminent collapse of the dollar.
I suspect that Glen Beck and the gold companies are intentionally creating a gold bubble. People listen to Beck and get scared that the sky is falling, so they buy gold for the safety. Over-all demand for gold goes up, Beck gets paid, and gold companies can charge more for their gold.
I don't think Beck really holds many of the views he espouses. I think he is just is a bullshit artist selling gold.
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come together
Edited by AnastomosisJihad (11/08/09 08:48 PM)
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koppie
astral projectile
Registered: 07/23/04
Posts: 2,653
Loc: cloud hidden
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: AnastomosisJihad]
#11410735 - 11/08/09 11:36 AM (14 years, 5 months ago) |
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I don't think a couple of companies selling gold by the ounce to individuals within the US have the clout to make a dent in the international gold market. The volume of trade by industry, institutional traders and governments is measured in metric tons.
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AnastomosisJihad
Hominid
Registered: 01/01/08
Posts: 700
Loc: Ohio
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: koppie]
#11412479 - 11/08/09 04:58 PM (14 years, 5 months ago) |
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Metric tons? I heard a story on MPR that reported all the gold ever mined, from ancient times till today, would fit inside a single Olympic swimming pool. Nobody is producing metric tons of gold.
The inflated price of gold has very little to do with industrial uses. Gold has been used as currency from the beginning of history, and its value is tied to that use. History is littered with national currencies that have become worthless, but gold has always been valuable as a medium of exchange. Gold is good as gold.
The gold companies are digging this stuff up out of the ground in small quantities, and if they can increase the demand for gold as an emergency currency, then they can double triple and quadruple their profits.
Glen Beck's fear mongering increases the demand for an emergency currency, and that is why gold companies pay him to spout his vitriol. It's good business.
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come together
Edited by AnastomosisJihad (11/08/09 07:48 PM)
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LayYouIn
Taurus
Registered: 09/28/06
Posts: 4,402
Loc: Organ
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: AnastomosisJihad]
#11413603 - 11/08/09 07:39 PM (14 years, 5 months ago) |
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The Founding Fathers were good people.
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 ChuangTzu
starvingphysicist
Registered: 09/04/02
Posts: 3,060
Last seen: 10 years, 6 months
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: AnastomosisJihad]
#11414787 - 11/08/09 10:08 PM (14 years, 5 months ago) |
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Quote:
AnastomosisJihad said:
Metric tons? I heard a story on MPR that reported all the gold ever mined, from ancient times till today, would fit inside a single Olympic swimming pool. Nobody is producing metric tons of gold.
Consider that a metric ton of gold only occupies 53 liters and that an olympic size swimming pool contains over 2.5 million liters....
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mj42070
Brilliant
Registered: 10/16/09
Posts: 183
Last seen: 14 years, 2 months
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: ChuangTzu]
#11415526 - 11/08/09 11:42 PM (14 years, 5 months ago) |
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gold no longer means anything anymore
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LayYouIn
Taurus
Registered: 09/28/06
Posts: 4,402
Loc: Organ
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: mj42070]
#11416049 - 11/09/09 01:15 AM (14 years, 5 months ago) |
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Quote:
mj42070 said:
gold no longer means anything anymore
said while gold makes a new record high....$1108.
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koppie
astral projectile
Registered: 07/23/04
Posts: 2,653
Loc: cloud hidden
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: AnastomosisJihad]
#11416628 - 11/09/09 03:43 AM (14 years, 5 months ago) |
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From Wikipedia:
Quote:
In 2005 the World Gold Council estimated total global gold supply to be 3,859 tonnes and demand to be 3,754 tonnes, giving a surplus of 105 tonnes.
Add to that the fact that most of these trades are on paper only and the same gold can be traded several times in a matter of days, it works out to a trade volume in the order of metric tons.
Or from this document:
http://www.lbma.org.uk/docs/conf2007/LBMA2007S3a-2Cheng-slides.pdf
Back in 2006 the Shanghai Gold Exchange, which is only one of several gold exchanges managed to trade over 13 tons in one day.
Edited by koppie (11/09/09 03:55 AM)
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memes
Blessed
Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: AnastomosisJihad]
#11417377 - 11/09/09 08:49 AM (14 years, 5 months ago) |
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Quote:
AnastomosisJihad said:
Gold is a great investment by the way because its price has quadrupled in the last few years.
Man, by those standards, I really should've bought a house in 2006.
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Silversoul
Rhizome
Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: koppie]
#11417576 - 11/09/09 09:45 AM (14 years, 5 months ago) |
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Quote:
koppie said:
From Wikipedia:
Quote:
In 2005 the World Gold Council estimated total global gold supply to be 3,859 tonnes and demand to be 3,754 tonnes, giving a surplus of 105 tonnes.
Add to that the fact that most of these trades are on paper only and the same gold can be traded several times in a matter of days, it works out to a trade volume in the order of metric tons.
Hmmm...sounds suspiciously like the housing market. 
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Mr.Al
Alphabet soup
Registered: 05/27/07
Posts: 5,388
Loc: N.S.A. D.C.
Last seen: 3 months, 16 days
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: Silversoul]
#11424600 - 11/10/09 07:48 AM (14 years, 5 months ago) |
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If you aren't a dumbass you buy physical precious metals.
Again, this is not like the housing bubble because you can't print up some gold whenever you feel like it.
After a crash, paper certificates for gold holdings in a far off place would be "rather difficult" to cash in.
If you are interested in getting into P.M.s I recommend silver...
http://www.shroomery.org/forums/showflat.php/Number/10352527#10352527
Beck is smarter than he acts. I think he's a fucking sellout attempting to hijack the Liberty Movement.
He never talks about Austrian Economics or why the "Fed" needs to cease existing.
He is an asshat that plays controlled opposition.
"Divide et impera" - Julius Caesar.
Nothing new here. Wake the fuck up!
Edited by Mr.Al (11/10/09 07:53 AM)
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memes
Blessed
Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: Mr.Al]
#11425089 - 11/10/09 10:03 AM (14 years, 5 months ago) |
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Quote:
Mr.Al said:
Again, this is not like the housing bubble because you can't print up some gold whenever you feel like it.
I'm sorry... Is this implying you can print up some houses whenever you feel like it?
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Grizzly Adams
Stranger
Registered: 10/12/09
Posts: 139
Last seen: 3 years, 10 months
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: Mr.Al]
#11425095 - 11/10/09 10:04 AM (14 years, 5 months ago) |
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glen beck has no ties to gold companies... wtf.
glen beck is a just a big douche.
my theory on glen beck is that fox news just uses him to make liberty oriented people look like jackasses... just the way they do with liberals on that network.
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koppie
astral projectile
Registered: 07/23/04
Posts: 2,653
Loc: cloud hidden
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: memes]
#11425390 - 11/10/09 10:55 AM (14 years, 5 months ago) |
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Quote:
meams said:
Quote:
Mr.Al said:
Again, this is not like the housing bubble because you can't print up some gold whenever you feel like it.
I'm sorry... Is this implying you can print up some houses whenever you feel like it?
You two really should get a room.
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memes
Blessed
Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: koppie]
#11425519 - 11/10/09 11:17 AM (14 years, 5 months ago) |
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I  Mr. Al
Who the hell would I talk to otherwise?
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Redstorm
Prince of Bugs
Registered: 10/08/02
Posts: 44,175
Last seen: 5 months, 27 days
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: Mr.Al]
#11425945 - 11/10/09 12:37 PM (14 years, 5 months ago) |
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Quote:
If you aren't a dumbass you buy physical precious metals.
Again, this is not like the housing bubble because you can't print up some gold whenever you feel like it.
Just because something has scarcity does not mean its value can not be exaggerated.
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Grizzly Adams
Stranger
Registered: 10/12/09
Posts: 139
Last seen: 3 years, 10 months
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: Redstorm]
#11426169 - 11/10/09 01:15 PM (14 years, 5 months ago) |
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Quote:
Just because something has scarcity does not mean its value can not be exaggerated.
gold does not get its value from its scarcity... it gets its value as a sound monetary system that has outlasted everything else for thousands of years.
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Silversoul
Rhizome
Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: Grizzly Adams]
#11426181 - 11/10/09 01:17 PM (14 years, 5 months ago) |
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Quote:
Grizzly Adams said:
Quote:
Just because something has scarcity does not mean its value can not be exaggerated.
gold does not get its value from its scarcity... it gets its value as a sound monetary system that has outlasted everything else for thousands of years.
No.
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memes
Blessed
Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: Grizzly Adams]
#11426420 - 11/10/09 01:48 PM (14 years, 5 months ago) |
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Quote:
Grizzly Adams said:
gold does not get its value from its scarcity... it gets its value as a sound monetary system that has outlasted everything else for thousands of years.
 Wrong.
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Grizzly Adams
Stranger
Registered: 10/12/09
Posts: 139
Last seen: 3 years, 10 months
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Re: Glen Beck fomenting rebellion to sell Gold. [Re: memes]
#11427709 - 11/10/09 05:52 PM (14 years, 5 months ago) |
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ok... i could think of a billion other things that are rare and worth jack shit.
not everything that is rare has extraordinary value..
do you think diamonds have value because they are rare?
diamonds are just as common as petroleum.
people accept gold because it is sound not because it makes a great conductor
telling someone they are flat out wrong is just ignorance.
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