What amused me most on the occasions I tuned in to Fox News, Rush Limbaugh and Glenn Beck were the commercials. Gold was being pushed big-time, and at a time when gold was already oversold. Those cynical advertisers certainly knew where to find the goldbugs. Obama the Muslim Anti-Christ was going to bring on the Apocalypse, and only gold would retain any value, see. It's common sense, don't ya know.
Well, turns out gold has fallen from 1700/oz to 1200/oz this year. That is a double-digit decline, and the bottom of the market is not even in sight yet. I expect that the market will fall to as low as $800 an ounce. Looks to me like the right-wing sheep have been shorn, and those gold merchants are cackling all the way to the bank. I suppose they knew their audience and capitalized upon them. Ain't that just the beauty of Capitalism?
I may not the greatest forecaster of markets, but I know one thing. Buy cheap, sell dear.
And if an investment is being sold through paid advertisements, then it definitely is not a good investment. I wouldn't be interested in anything sold by commercial on Fox News, because it would be tainted already in my view. Something is wrong with the program, and something is wrong with the products being promoted during breaks.
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