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reformist2

(9,841 posts)

33. Gold plunging is actually a really bad sign for the global economy.

Reply to scheming daemons (Original post)

Mon Apr 15, 2013, 10:31 AM

Apr 2013

The entire recovery was based on this idea called "reflation" - like it or not, the idea was that the banks had to be made flush with cash in order to revive the economy. Rising gold prices were a sign that was working. Falling gold prices are a sign it's failing.

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Gold is plummeting... Glenn Beck likely on suicide watch... [View all] scheming daemons Apr 2013 OP

He's the consummate con artist. Do you really think he keeps his wealth in gold? baldguy Apr 2013 #1

exactly n2doc Apr 2013 #17

pretty sure Ron Paul does rurallib Apr 2013 #19

Yes, but he is also a true believer siligut Apr 2013 #67

Link? nt Xipe Totec Apr 2013 #2

See below Benton D Struckcheon Apr 2013 #3

Thanks! nt Xipe Totec Apr 2013 #24

Don't tease me please malaise Apr 2013 #4

Likely a good sign for the dollar! nt Poll_Blind Apr 2013 #5

Yeah, it's up against all commodities right now Recursion Apr 2013 #13

Surprisingly not DFW Apr 2013 #27

*I'd* watch that. Richardo Apr 2013 #6

Glenn Beck and other right wing sufrommich Apr 2013 #7

+1 nt Javaman Apr 2013 #15

Some of the LW hosts have the commercials, too.... Wounded Bear Apr 2013 #60

He made his money lying to the stupid right wingers. Hoyt Apr 2013 #8

Gun Futures! How novel. nt Lucky Luciano Apr 2013 #21

LOL, He convinced his listeners to buy gold when the price was at an all-time high. FSogol Apr 2013 #40

Exactly- those of us who bought it cheap, years ago BeHereNow Apr 2013 #69

Well, it will be interesting to see how much panic is out there. MineralMan Apr 2013 #9

I've been saying for over a year that the only bubble out there was the Gold Bubble 1-Old-Man Apr 2013 #10

Oil is way down too; this is currency in general deflating Recursion Apr 2013 #11

Not gas at the pump, wtf? xtraxritical Apr 2013 #48

There's very little relation. Recursion Apr 2013 #53

I listen to progressive radio Helen Reddy Apr 2013 #12

Why, has Beck been advocating buying gold? Auntie Bush Apr 2013 #14

Filing in my "Crying 'wolf' only works for a while.' Folder yellowcanine Apr 2013 #16

Anyone who has been buying gold the past 5 years gets what they deserve. cbdo2007 Apr 2013 #18

Well they have made a lot of money. former9thward Apr 2013 #57

Hmmmmmm....I sold some old sterling silver last week....Great timing. I wonder if I got screwed Armstead Apr 2013 #20

silve is down over 2.50/oz just today. rdking647 Apr 2013 #23

Selfishly, I'm wondering about last Wednesday and Thursday...Not that I sold very much Armstead Apr 2013 #25

im looking at buying some rdking647 Apr 2013 #22

Absolute evidence that GREED totally drives the economy Kelvin Mace Apr 2013 #26

i dont think thats the cause rdking647 Apr 2013 #31

Agreed Kelvin Mace Apr 2013 #36

It's gone up so much BainsBane Apr 2013 #28

Prices and losses as of today 1-Old-Man Apr 2013 #29

I've noted changes in the gold advertisements. Ready4Change Apr 2013 #30

Gold is up about 450% since 2000. The DJIA is up around 25%. DesMoinesDem Apr 2013 #32

Gold plunging is actually a really bad sign for the global economy. reformist2 Apr 2013 #33

Makes no sense, Baitball Blogger Apr 2013 #37

George Soros bet on gold as well, but recently changed his mind. reformist2 Apr 2013 #42

Well that could be a clue right there, no? sofa king Apr 2013 #52

Yes and the banks are using that cash to invest for themselves, they aren't lending it siligut Apr 2013 #38

The right-wing nutters are not what moved gold up so much. It's mostly big speculators globally. reformist2 Apr 2013 #43

Yes, China's gold futures slumped siligut Apr 2013 #44

It's a symptom, not a cause. Dreamer Tatum Apr 2013 #49

The value of gold is mostly tied to the strength of the US dollar. DCBob Apr 2013 #61

Oh wow, gold is *not* a left wing vs. right wing thing! reformist2 Apr 2013 #64

you are right.. DCBob Apr 2013 #66

FReeper post: God is Making Gold Crash to Test Your Faith Loup Garou Apr 2013 #34

Yep, this looks like "capitulation". nt bemildred Apr 2013 #35

Now if... DirtyDawg Apr 2013 #39

Odd...I hear Schultz and Goldman shilling for gold, too. Dreamer Tatum Apr 2013 #41

Randi Rhodes and Thom Hartmann have done ads for gold too. A sponsor's a sponsor, I guess. nt SunSeeker Apr 2013 #45

yeah so dads freaking out about now PatrynXX Apr 2013 #46

Beck flogs Gold to a bunch of heavily-armed preppers. formercia Apr 2013 #47

Stocks will be next magic59 Apr 2013 #50

My advice to the suicide watch: Turbineguy Apr 2013 #51

Beck didn't sell gold, he sold overpriced gold coins JPZenger Apr 2013 #54

So happy to see it going down. It really was a bubble, unless efhmc Apr 2013 #55

Beck may have a genuine emotional reaction... Orsino Apr 2013 #56

Precious metals prices have been falling for the past 6 months. Dawson Leery Apr 2013 #58

Wow, its down below $1400 DCBob Apr 2013 #59

Hah! Maybe the Cons can eat their gold HomeboyHombre Apr 2013 #62

Why would beck be on suicide watch? You don't think HE puts his money... JHB Apr 2013 #63

Is it a causal link in a larger financial correction? Bosonic Apr 2013 #65

Still 2X what I paid for it whatchamacallit Apr 2013 #68

Gold, like crude oil and every single stock and bond is RIGGED, it's a fact just1voice Apr 2013 #70