2010 Repeat-07 Glenn Beck hoodwinks investors to buy gold at $800

[steve0]

(Where are all the liberal media articles about how Glenn is overhyping gold? Glenn's Goldgate?)I will never support Glenn Beck again!!! On his advice and the advice of people on his show, I bought gold at less than $800.00 an ounce. He began hyping Gold in 11/20/2007 and earlier. Now gold is dropping like a rock and I can only sell my Gold for $1,200.80 a percentage increase of only 43.5%.

[redhead]

"I bought gold at less than $800.00 an ounce."

I got mine when it was around $250. I'm NEVER going to get caught up at this rate!!

[CharlesWayneCT]

But you are supposed to be BUYING gold now, not selling it.

In fact, you are NEVER EVER supposed to sell gold. Have you EVER heard someone in the gold business tell you to sell your gold? No, because you aren’t supposed to sell it.

[Freedom_Is_Not_Free]

Boy are you on the wrong thread. This thread is a text book example why some people buy some gold during times of crisis.

Who can dispute your comments over very long spans of time. I don’t see anyone on this thread advocating putting all of your money in gold and leaving it there forever, but those people who saw risk, flights to safety, dollar depreciation and fear were very observant and shrewd to buy gold going into this crisis. They have saved a great bounty of wealth others have lost or risked losing.

You did say you make a nice profit from the last year’s stock market rally. You did not offer how much you lost in the prior crash. Full disclosure would be appreciated.

[Thane_Banquo]

Huh? I wasn’t trading stocks last year.

[NeoCaveman]

I was using the time frame mentioned in the article. Since 2007.

Yes. Past performance is not necessarily indicative of future performance.

Believe it or not, I’m neither stupid nor gullible nor financially illiterate. If you had invested in the Neikkei in 1989 you’d still be down 75%. The US market (in dollars) has been flat for a decade and more than a decade if you used foreign currency to buy it.

If the last decade taught us anything is not to trust the guys on Tout TV talking their book and preaching buy and hold.

We had a generation bull market, that was from 1982 to 2000. Maybe a decade from now, but probably two, the S&P might be ready for a replay but right now the market is expensive based on any historical metric (P/E, dividend yield, etc.)

[PA Engineer]

Yeah, but the fascist government will just confiscate it all just like FDR did, so NAH! At reasonable price of course.

True, but I lost mine in a midnight gardening accident. ;-)

[jiggyboy]

gold minting firms can pay people like Beck to hype their products, and he and others do not have to report that they are being paid for their investment "advice."

In fact, after the "scandal" broke, he made an overly theatrical disclaimer every time he did a Goldline ad, with everybody in the room helping out. "And now, an advertisement from Goldline, who is a SPONSOR! Who PAYS ME! To do an ADVERTISEMENT for them! About GOLD! Which I will now do!" Etc. It was pretty hilarious as it got more and more involved every day.

[jiggyboy]

And I wasn’t trading stocks in 1850.

[jiggyboy]

Well there is the cash4gold bunch.

I’m keeping an eye on them — as long as we see them advertising, IMO we’re not nearly at a top.

[21twelve]

Heh. I bought all my gold and silver in 1998 - 1999. That crazy Y2K bug. Oh - gold was at about $170 - $200 as I recall. Yeah - I'm a bit of a whack job. Still have my wood burning stove and generator too.

[ConjunctionJunction]

Watch out on dividends, taxes are going to go up on them big time. Thanks, Congress!

[throwback]

LOL! That’d be my fear. Getting along in years, I'd forget where I'd buried it.

[CharlesWayneCT]

They will always advertise, because they will always pay you only part of what your stuff is really worth. I doubt that are hanging on to the gold — they just pay you off, melt it down, and sell the gold for a quick profit.

[Freedom_Is_Not_Free]

You must have got caught in the crossfire. I must have been posting to someone else & clicked your username instead. Sorry about that misdirected comment.

[Saundra Duffy]

If Glenn Beck told you to jump off the Golden Gate Bridge, would you do it?

[brydic1]

And yes, if you bought Nasdaq in early 2000 you would be looking at a decline of 50%. Not sure what kind of return that would be but I would not want any part of it. By the way I bought my gold coins in 1959 at $38.00 per oz. Put it away and never even thought about trading It is now close $1250 per oz. Maybe the return is not that great over the years but I will settle for it. Also would like to relate that in Vienna in last two weeks the Austrian Mint sold 243,500 one oz coins. Historically this type of purchase will not be offered on the market again.

[Labyrinthos]

If you had invested the $38 in the S & P 500 Index back in 1958, it would not be worth about $4100 today — As opposed to $1210 for an ounce of gold.

[brydic1]

I will still keep my gold. The S&P was 41.00 in 1958 and 1155 today. There, of course, would have been some dividends but you would also have had to change that portfolio every time the S&P did so which would have involved countless trades commission costs etc. I have had to do nothing and it will continue to appreciate and when the market crashes under this misgovernment of Obama, no worry about that for me.

[brydic1]

Even better look at the ten year record. S&P as of 1-1-2000 and now. It has declined from over 1400 to less than 1150 while gold has gone from an average price of $280 to $1240

[steve0]

Yeah I would. Knowing him, he would have something better waiting for me at the bottom. That’s just how he rolls.