Posted on Evans Liberal Politics, December 11, 2009, by Paul Evans
Glenn Beck's Fearmongering and Pushing Gold Is just Part of Rupert Murdoch's Plan for a Killing in a 'Gold Bubble'
The Huffington Post just ran a funny piece with a hilarious Jon Stewart video on Glenn Beck's unethically pushing gold on his show while at the same time being a spokesman for Goldline, one of those companies which buy up your gold.
But the truth behind this is far more sinister, as Rupert Murdoch and others are pushing gold all over Newscorp, and what is going on is the next big speculative commodities bubble, this one in gold.
(You can see the Comedy Central video at the HuffPo link, we're giving you one from Keith Olberman's Worst Person in the World from Dec. 10th.)
$$$ Could Jon Have Found the REAL Reason for Beck's Incendiary Incitements??? $$$
It’s a Gold Bubble, Silly!
Source: Stewart Catches Glenn Beck Digging For Gold (VIDEO), The Huffington Post, December 11, 2009, by Dan Abramson, text quoted verbatim, with commentary by Paul Evans, owner of Evans Liberal Politics. The Huffington Post article is what got me to thinking...
With the value of gold on the rise, Jon Stewart was determined to get to the bottom of what may have caused the increase. The likely fanner of these flames: yep, Glenn Beck.
After noting that gold goes up when people are panicked or concerned, Stewart sat back and enjoyed the greatest hits from "Beck’s hour-long nightly fear-cast." That alone wouldn’t be enough to credit Beck for initiating this gold rush, but his role as spokesman for Goldline, an internet site where you buy gold, surely sealed the deal. Stewart recapped:
"Glenn Beck is paid by Goldline to drum up interest in gold, which increases value during times of fear; an emotion refinforced nightly on Fox by Glenn Beck."
Calling Beck’s ethics into question, Stewart finished by stating, "You can’t spell ‘gold’ without G-O-D."
COMMENTARY by Paul Evans: OK, Jon, MAYBE you're onto something here. With, as the video below reveals, Beck being a spokesman for one of the big internet gold trading sites, do you suppose Beck (Or..FOX ...or, say, Rupert Murdoch), pushing the precious metal all across the Newscorp Empire, just might ....may-be.... be heavily invested in the precious metal?? Naw..... that would be, why, highly unethical. Highly.
Well, you can do some digging around the net, and I must say, it's pretty well hidden. Many of the links to the articles you do find are "resource not found" errors where the information has been taken down. But there IS dirt on this.
For example, let's look at just one company, Dundee Bankcorp, which ia financial services company into "wealth management." In a summary that does not load the article, we read:"
TORONTO, ONTARIO, Apr 19, 2004 CCNMatthews via COMTEX Dundee Bancorp Inc. (DBC.A - TSX) ("Dundee Bancorp") announces that it has acquired 7,125,000 common shares of Dundee Precious Metals Inc. ("Dundee Precious"), bringing its holdings to 11,366,555 common shares or approximately 21% of the issued...
AND:
Dundee Bancorp Inc.: Ownership In Dundee Precious Metals Inc. TORONTO, ONTARIO, Feb 24, 2004 CCNMatthews via COMTEX Dundee Bancorp Inc. (DBC.A - TSX) ("Dundee Bancorp") announces that it has agreed to acquire from Dundee Wealth Management Inc. ("Dundee Wealth") 925,000 shares of Dundee Precious Metals Inc. ("Dundee Precious") to be issued from treasury...
I know, that's going waaay back. Murdoch doesn't exactly publicize his ownership in these companies. Dundee Bankcorp is not the Holy Grail, I think it's probably "spread around," and last year its sales were only $1.3 billion. If you'll look around, you'll see that it owns Dundee Precious Metals which is heavily into Namibian Gold.
It must be that Murdoch himself is doing quite the little bit of speculation in gold, and FOX News and Glenn Beck are fanning the flames for it's price to rise. No, no coincidence.
For a more conventional take on Glenn Beck's foray into the world of gold speculation, see Glenn Beck’s Conflict of Interest As Gold Invetment Shill, Fox News Boycott.com, December 8, 2009, by FoxNewsBoycott:
As reported on before, there may be a conflict of interest in Glenn Beck’s promotion of gold investment companies while fear mongering about the economy and the state of the dollar, not to mention promoting his own investments. Now, according to Daily Finance, it appears that Fox News has taken notice and Beck may be in hot water.
Goldline International features Glenn Beck’s picture on their web site and his voice on their radio ads. Due to being a radio personality who does "live reads," or live commercials, and a commentator, rather than an anchor, some of the normal contract terms have been relaxed. However, Fox News seems to have an issue with the personal nature of Becks relationship with Goldline. The exemption, apparently, is only intended for the live reads and a Fox spokesperson is discussing the matter with Beck’s agent.
Don't worry Glenn. Fox News execs just don't know quite the extent to which Rupert Murdoch is hip deep into gold himself. You're perfectly safe. In fact, Murdoch is spreading ads and infomercials on gold investment all over his networks. See for example, Fox Business Network: It's Gold!, New York Magazine, Daily Intel, October 19, 2007: Yes, 2007. This has been going on for a while:
No, literally — it's all about gold. Rupert Murdoch's new cable channel ran multiple segments on gold in its first week, which we thought was a little weird. But after we watched the hundredth paid advertisement for gold (damn watching TV in real time!), we thought, maybe it makes sense.
Damn I'd like to know just how much Murdoch has personally invested in gold. Has to be a lot, he's been pushing it like a drug for years.
By the way, all you moms and pops with your life savings tied up in hard gold? You might want to read such articles as The Three Triggers of the Global Gold Bubble, Monday Morning.com, July 28, 2009, by Peter Krauth:
As you review your investment portfolio to size up your current exposure to gold, keep one key point in mind: When it comes to profits, there’s no rush like a speculative gold rush.
And that’s just what we have at hand.
Inflationary fears are on the march the world over. And most of those worries are due to the trillions of dollars in stimulus spending the world’s central bankers have engineered. Those worries about the pressure from rising prices are destined to cause the next big asset bubble.
Watch Stewart Catches Glenn Beck Digging for Gold
According to Politico, in Right-wing talkers go for the gold, December 5, 2009, by Kenneth P. Vogel, Mark Levin, Michael Savage, Laura Ingraham, Dennis Miller, Fred Thompson and G. Gordon Liddy are among other right wing talk show hosts hawking gold.
And you can bet Murdoch is cleaning up!
Keith Olberman's Worst Person in the world from Dec. 10th says that one of Beck's advertisers, Merit Financial Services, which advertises on Becks' show, say that from Beck, "gold retailers expect favorable coverage." But Beck is just one shill. It's all over Murdoch's empire, it's a gold bubble, and it's going to take a lot of unsuspecting ordinary Americans down when it bursts.
This is another destructive, speculative bubble whose only pupose is to make the people behind it and who are in on the ground floor, like Beck and Murdoch and others, a lot of money. But the little people putting their money into it will ultimately get ruined when the bubble bursts.
See The Hunt Brothers and the Silver Bubble, Buy and Hold, by Brian Trumbore.
See The Recurring Gold 'Bubble', The Mess That Greenspan Made, December 2, 2009, by Tim Iacono.