Investment Intelligence When it REALLY Matters.
Gold Charlatans Strike it Rich While their Sheep Get Fleeced (Part 3)
None of these guys who preach doom and advocate gold as your key to salvation will EVER post articles or interview anyone who speaks the truth. The whole idea is to deceive their audience and they fear the truth. They create propaganda in order to fool their audience.
Glenn Beck is a perfect example. Beck never airs any credible experts because no credible expert would give him what he wants - a doomsday scenario positioning gold as your salvation. That's why he featured clowns like Peter Schiff and Gerald Celente.
Gold bugs and dealers alike have pumped out so many misconceptions and flat out lies about gold, silver, and the economy that it would be impossible for me to set the story straight in a single article; that's saying a lot considering the fact that my articles tend to be rather lengthy. However, I have previously written several articles that address the majority of the most common of these myths and lies (check the end of this article for a partial list).
If you have been sucked into the vortex of lies from these charlatans, you could stand to lose a HUGE amount of money over the next several years as the gold bull market comes to an end.
And if you really think gold will never again fall below $1000 as Marc Faber the gold-pumping clown has "guaranteed," I regret to inform you that you're a damn fool. Why would you even trust what a man who is always preaching doom has to say?
Moreover, if you really think the Dow Jones is headed to 1000 like Robert Prechter insists, you aren't thinking straight.
And if you think the euro and even the European economy is in better shape that the U.S. dollar and the U.S. economy, as Peter Schiff insists you might want to check yourself into the loony bin. And you can take these clowns with you.
Perhaps the real reason for the ridiculous statements and claims made by these men is due to FINANCIAL INCENTIVES.
Every single one of these gold hacks is making money in some way from pumping gold and making gross exaggerations about the U.S. economy.
The fact is that they are making false statements and coming to ridiculous conclusions in order to line their pockets with YOUR money.
Having no bias is no guarantee that you will be right, but it is something all investors should look for.
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If you want the facts about gold and silver, hyperinflation and everything else, as well as the insights from one of the world's leading investment minds, we suggest you patch into our research.
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We continue this 5-part series with Part 3.
See here for Part 2.
See here for Part 1.
Have you ever noticed that none of the guys who preach doom and advocate gold as your key to salvation EVER post articles that offer different viewpoints, or interview anyone who has a different view?
Doesn't that seem odd to you?
If these individuals are so convinced that doom is coming; that the U.S. dollar is headed to 0; that the U.S. is headed for hyperinflation; that the Dow Jones Industrial Average is headed to 1000, and that gold and silver are headed to $20,000 and $1000, respectively...why do they fear any type of rebuttle from competant and unbiased financial professionals?
This is just one more question you should add to your list when you confront these guys.
Similar to the media, gold charlatans are NOT interested in exposing their sheep audience to anyone who presents rational arguments.
The whole idea is to deceive their audience. They have created a relentless wave of gold propaganda in order to fool their audience.
The fact of the matter is that gold bugs are cheerleaders because they are telling you only one side of the story; their side; the side that makes them money. Unfortunately, their side of the story is complete propaganda.
Let me repeat. All gold bugs are cheerleaders. They are not analysts and they are not reliable sources of insight on gold or any thing related to the investment process. It's as simple as that. And you should acknowledge them as such.
I have one piece of advice. NEVER EVER make an investment decision based on what you have read or heard from cheerleaders, because I will guarantee you that in the end, you will get burned (at least 90% of the time).
The massive wave of gold propaganda that has been generated over the past few years has taken a life of its own. As a result, tens of millions of sheep have been completely brainwashed. And every time they open their mouth to talk about the "debased currency" and other phrases they have swallowed from gold charalatan puppet masters, they are revealing their ignorance to the world.
It's truly an embarassing situation for these sheep. They don't even realize they have been transformed into stooges who are fueling what some could argue is a Ponzi scheme.
Glenn Beck's role in the gold propaganda machine is noteworthy. As you may recall, I warned readers a couple of years ago that Beck was pitching doom in order to fool people into buying gold because he was getting paid millions of dollars from Goldline.
Beck & Co.: Cashing In Through Scare Tactics
Beck never airs credible experts because no credible expert would give him what he wants - a doomsday scenario positioning gold as your salvation. That's why he features extremists who do nothing but speak in general terms; guys who provide you with the same predictable doomsday song and dance....guys like like Peter Schiff and Gerald Celente, the latter of which is arguably the biggest joke in the media today.
All of these guys in the media are completely useless if you are seeking intelligent, responsible and actionable investment strategies.
Beck has been paid MILLIONS of DOLLARS by Goldline for endorsements. This is a company that has RIPPED OFF thousands of unsuspecting fools who were streered there by Beck and other talking heads.
Goldline Execs Charged With Fraud
I hate to say it, but the victims of Goldline's scam deserved to get their asses handed to them for trusting the media and listening to people who were being paid to pitch the company; talk about asking for it.
Of course Beck hasn't been the only lying scumbag; he has just been the most influential of the media gold-pumping whores. Every major conservative radio host has been bought off by Goldline and other gold dealers.
But I'm not defending the liberal or progressive talk show hosts. They're whores just like their conservative counterparts; they're part of the media after all. That means they too are bought off liars working against you and for corproations and banks. It just so happens that they don't make good pitchmen for good since a democrat is in the White House right now.
So what happened to Beck and the other liars for his role in facilitating Goldline's bait-and-switch and overcharging scam?
NOTHING. Unfortunately, when you endorse a product or service, and the company behind the product or service defrauds customers, the person who endorsed the company gets off scot-free.
To me, that seems like a huge flaw in the law. If you are going to get paid big bucks to endorse a product, you should share at least some responsibility if the company you are endorsing commits fraud since you are indirectly helping the people get screwed by recruiting them with your celebrity status.
Hell, do your due diligence and keep an eye on those you get paid to endorse. It's as simple as that.
At the very least, Beck should be forced to relinquish all compensation he received for endorsing Goldline. This money should go to the victims of the fraud.
But there's some really big money behind these gold pumpers. You see, Wall Street is involved in this con game as well. And who do you think is going to win?
Let's take a closer look at what I am referring to.
A couple of years ago, Congressman Weiner issued a report discussing how Glenn Beck and others have teamed up with Goldline using scare tactics and deceptive statements in order to get their audience to buy gold; gold which is sold for ridiculously high prices relative to the spot price.
Is there any coincidence that Congressman Weiner's political career was axed after he exposed Goldline, Beck and the other bought-off gold shills? Maybe, maybe not. We will probably never know.
Today, Beck is STILL getting paid to endorse the fraudulent Goldline.
Beck has even jumped on the "pretend to write a book" scam in order to make even more money from the idiots who buy into his "Alex Jonesque" conspiratorial bullshit.
After seeing how Joe the Plumber, Sarah Palin, Terrill Owens and countless other idiots made a fortune claiming to have authored a book that was clearly written by a ghost author, Beck, a high school graduate, is now claiming to have written a book, which by the way is more BS.
Perhaps some of you who have been following me recall what I have said about (nonfiction) books that have been labeled "best sellers." It means they are USELESS because they have appealed to the masses. And we know that the masses are quite stupid.
[Note: virtually everyone else who would mention a book on their website or blog would post it as an Amazon link so they could receive sales commissions for anyone making a purchase through their website. This is why so many sites talk useless books up as "great reads," adding to the sheep effect. In fact, when people create book lists on their site, they usually select the books that have sold the most copies because this increases the odds of more sales and more commissions through Amazon. Most people who pimp books on their website haven't even read them. They just want to make money. This is just another example of the dangerous consequences of the advertisement-based content model I discussed recently: Free Versus Paid Content]
Remember, Kevin Trudeau, Robert Kiyosaki and countless other snake oil salesmen have also written so-called "New York Times Best-Sellers." Need I say more?
When mental midgets see this "best seller" designation, they think it means the book is credible, of value and worth the read. In nearly all cases, they are wrong.
The so-called "alternative" media radio hosts such as Alex Jones, Max Keiser, George Noory, Jeff Rense and so forth are much more involved in pumping up gold than even the conservative radio whores. The list of gold hacks is virtually endless.
These conspiracy-based mouth pieces create even wilder tales about the economy and end-of-the-world scenarios, while positioning gold and other products (ridiculously expensive water purifiers, power generators, canned food, weight loss potions, nutritional supplements, and countless other BS that would never sell anywhere else) from their sponsors as life-saving solutions.
The fact that I advised AGAINST buying physical gold and silver due to their relatively poor liquidity, inability to trade the price volatility and huge commissions is specifically why these lying scumbags have banned me. They also realize I would expose the various BS products they pitch.
Just ask Alex Jones. Jeff Rense and the rest of the so-called "alternative media" crowd about me. They all know who I am and they have banned me.
What's funny is that gold hacks like Eric Sprott are telling people that the liquidity of physical gold adds to its investment appeal.
Hey Eric, I suggest you go back to the drawing board and learn the precise definition of liquidity, because I can guarantee you that the SEC and FINRA do not consider physical gold to be liquid. Perhaps Sprott doesn't mind being fined.
[You can learn more about Sprott and other gold charlatans by accessing our massive and constantly expanding Encyclopedia of Bozos, Hacks, Snake Oil Salesmen and Faux Heroes.]
But of course, most people believe everything they hear from the media and their hand-selected clowns who they claim are experts, especially if the rhetoric reinforces what they have heard from other sources. That is specifically why the gold hacks have created this huge wave of propaganda, knowing that most people get hooked based on the validation by numbers approach.
Did You Get Fleeced by Max Keiser, Alex Jones and the Rest of the Stooges?
Max Keiser, Alex Jones and their Lackeys Scamming People AGAIN
Exposed: Texe Marrs & Obama, Alex Jones & Ron Paul
And you'd better believe some of these guys are receiving compensation under the table (in addition to from ad revenues) for pumping gold and providing interviews. If these relationships are not clearly being disclosed, they are breaking the law. 
This should come as no surprise to anyone who has read my previous articles on Alex Jones. After all, Jones is nothing more than a fear-mongering liar, who infringes on copyright while pitching doom and gloom, all while offering gold and overpriced doomsday supplies as your salvation.
The fact is that Jones is NOT a patriot, and he is NOT part of the so-called alternative media. This is specifically why he is always being interviewed by the mainstream (the establishment wants to recruit more sheep into his distractions from the real truth).
Jeff Rense is certainly no better. But the only reason why he is not marketed by the mainstream is due to the fact that his angle is focusing on Jews. Ironically, Rense is Jewish. Rense is just as much of a distraction artist as Jones. He is also a gold pumper.
Many people trust hacks and liars like Glenn Beck, Alex Jones and other so-called "patriots" and "truthers."
These guys are NOT patriots. They are not truthers either. They are con artists. These scumbags are for sale to anyone who pays them. That makes them whores.
The same goes for anyone involved in the media, from sports figures to singers and so on. It is an irrefutable fact that everyone involved in the media and entertainment has been bought off like a cheap whore. And if you give them your attention, you're surely going to get fucked.
You must understand that the media’s job is NOT to provide you with accurate reporting and valuable insight. The media’s mission is to serve the agendas of its sponsors because the sponsors pay for ads. Advertising revenues are by far the main source of revenues generated by the media.
So instead of unbiased insights from leading authorities, the media delivers BS artists who are only experts in sales and marketing. But the media has positioned them as investment experts. This is why these clowns serve their sheep myths, exaggerations and flat out lies.
Think about it. The human mind is very predictable. If you keep hearing about some chump like Marc Faber...his predictions and market "insights," you're going to be fooled by this clown (unless you have a good understanding of what is going on) because you are going to subconsciously equate his media exposure with credibility (unless you have consciously accepted the fact that the media is out to deceive its audience as well as enrich its own tribe...Jewish individuals, by providing them with free PR).
Below, you can see how Beck was promoting Schiff and Faber and their ridiculous ideas in order to create an entre for a pitch from Goldline.
First, you might want to take a minute to pause and laugh as Beck tries to glaze over Schiff's investment disaster. Remember, this is a man who wrote a book called "Crash Proof."
The only problem is that if you followed the advice in the book, your investments crashed by a larger amount than if you had done nothing!
Hey Beck, if you are on the side of the people and you want to "expose" the Federal Reserve conspiracy, why have you NEVER asked Peter Schiff if he is related to the main banker who was responsibel for forming the Federal Reserve Bank, Jacob Schiff? The answer is obvious. Beck's only purpose was to use Schiff as a gold pumper, so the last thing he would want to do is to put any question about his background into the minds of the idiots who listen to Beck. Clearly, Schiff is related to Jacob Schiff, which takes us down a whole new path. I'll save that one for another time.
Notice that Faber is telling you all he is 100% convinced hyperinflation is coming to the United States (the broadcast was in May 2009).
Also note that Schiff has backed down a bit from his hyperinflation claims by saying it will occur "if the government keeps doing what it's doing."
This is a tactic typically used by a double-talking used car salesman whose goal is to create an easy out.
Here's how it works. The object of the deception game is to claim something will happen unless some condition is met. But the con man never specifies what the condition is sufficiently such that he will always be able to waffle his way through at a later time.
In essence, this tactic is positioned to always give the weasel who uses it the ability to talk their way out of a bind when cornered.
So, for instance once even the sheep who have fallen for Schiff's rubbish finally realize hyperinflation isn't coming or the dollar isn't headed to 0, or the U.S. economy isn't going to turn into Greece or Zimbabwe, Schiff's response will surely be "yes, because the government stopped doing what it was doing," knowing full well that such a statement is highly subjective and can never really be proven or disproven.
Now listen to this rant Schiff gave a couple of years ago...he has been 100% wrong of course. Listen to his fear-mongering. Once again he is predicting hyperinflation. He is warning you about the complete collapse of the dollar.
He is telling people that they will be as broke as if they had their money with Madoff if they stay in the dollar! "There's not a lot of time."
Notice how Schiff is always talking about how "paper currency" is worthless when he wants to pump gold. But then he tells you to buy foreign stocks!
Schiff is COMPLETE IDIOT, exaggerates like a madman and has no credibility as far as I'm concerned. If you listen to this clown, you will deserve it when you lose your shirt.
The fact that people actually listen to Schiff proves that most people are complete idiots. They will listen to anyone plastered on TV. This is specifically why there's so much trash in TV. Schiff serves as the mold for the typical gold bug. And they are all delusional idiots.
It doesn't even matter if Schiff decides to stop rantingh his ridiculous lines and starts talking sense because back in 2006 and 2007 and 2008 when he was all over the TV scaring people with claims of hyperinflation, fearful souls sent him their money to invest.
Today he could change course completely and announce that he no longer believes hyperinflation is coming.
He could also state the obvious; that the record-highs in the Dow Jones Industrial Average prove that the U.S. capital markets are the world's safest and most resilient; but none of this will matter to Schiff because he has already has built a huge business up based on his ridiculous sales pitch that was created based on these ridiculous claims on hyperinflation and so forth.
Let me be clear about this because Schiff has apparently confused "success" with being given free media air time. Any idiot can sell ice in the North Pole if they are provided with daily pitches in TV like Schiff was. That is NOT a measure of success.
If you claim to know what is going on in the economy; if you claim to be a responsible and competant "strategist," you need to be right, AND you need to advise your clients in a manner that enables them to navigate the economic and market turbulance.
As we know, Schiff did not suceed in this for the most part. In fact, his investment strategy is tantimount to having none because he believes in buy-and-hold. I'll let you in on a secret.
Stock brokers and financial advisers who advocate the buy-and-hold strategy do so because they have no dea what they are doing.
But why in the hell do you need to pay these guys to tell you to buy-and-hold?
Hell, just buy and hold the S&P 500 Index and I will guarantee you will outperform these clowns.
Even after his first book Crash Proof proved to be potentially quite destructive to readers who followed his investment advice, Schiff released Crash Proof 2.0, which was essentially the same as the first edition except for an added chapter (I do not know this first hand; I read this from a review so if I am wrong, please email me and let me know).
Since this second edition was published the U.S. stock market has soared, yet his sheep "fans" still think it's a great book. All you have to do is go to Amazon and look at the reviews.
This illustrates just how stupid the vast majority of people are. People review books based on a fan base mentality. Put a person on TV and review the impression you derived from that person from TV, as opposed to the quality of the material in the book. You can see the same effect by looking at book reviews for some trash TV reality star or Britney Spears, etc.
FACT: If they are in the media they cannot be trusted because they have been bought off. And if you pay attention to the media, you will get screwed.
And now, the pay off...
The entire gold propaganda bandwagon has created a huge gravy train for gold dealers. They do very little, have no legal responsibility and can make wild claims and collect up to 35% in fees off of each transaction (although there really is no limit as to what they can charge).
In other words, you are paying a huge amount above the spot price of gold and silver. And that's for gold and silver bullion.
If you are stupid enough to buy gold coins, the fees are typically 8% to 10% above the spot price.
How high is an 8% or 10% fee?
I can tell you this much. An 8% or 10% fee is so high that it's unheard of (if not outright illegal) for Wall Street brokers to charge for commissions or annual portfolio management fees for investments.
Thus, one could argue that the huge fees charged by gold dealers means they are even bigger crooks than Wall Street guys.
But that's not the end of it. Get this. Some dealers (like Goldline) have been known to charge as much as 35% above spot price! Unfortunately, there really is no regulation in the gold dealer business, so they can charge fees as high as they want.
Now do you understand why guys like Peter Schiff want to do away with all forms of government regulation????
In the final part of this series I'm going to further explain why even a 1% fee for buying and selling gold and silver is a rip off.
Fund managers struggle to deliver 8% annual returns for their clients. But gold dealers have the best game in town; they are zapping their clients 8% for a single, simple transaction. That folks, is one HUGE SCAM.
So you can see now why these charlatans are so desperate to paint this picture of "imminent hyperinflation" and doom, all while positioning physical gold and silver as your salvation, as opposed to gold ETFs. By exagerating things so much, people will tend to think that an 8% fee for buying gold isn't much.
The fact is that hyperinflation isn't going to hit the United States, at least in our lifetime. I'll guarantee it.
Now compare my track record with every single one of these gold charlatans and you can decide who is credible, who the clowns are and who stands to make money by pitching gold and all of the ridiculous arguments that state it's headed to the moon. Wake up idiots!
Note that the vast majority of these gold charlatans have no real track record and aren't even financial professionals.
Remember people, if gold is such a great investment...
...if gold is headed to the moon as all the gold dealers insist...
...why in the hell are they spending HUNDREDS of MILLIONS of DOLLARS trying to convince you to buy it from them?
Why don't these gold dealers just hoard gold and wait for it to soar??
Someone needs to ask Peter Schiff, Marc Faber and all of the other gold pumpers, hyperinflation and doomsday delusionists these questions.
Remember, Schiff is the same man who six years ago insisted the U.S. would face hyperinflation and the dollar would go to 0. The same can be said of Faber.
In fact, virtually every other gold charlatan and doomsday clown in this network made the same claims, or have you already forgotten?
Six years later, after the financial crisis and global economic blowout and the U.S. isn't even experiencing normal inflation!
Why Hyperinflation Isn't Coming to the U.S.
In addition, as Europe continues to implode, Schiff keeps claiming that the euro is safer than the U.S. dollar! WOW.
Today, as the U.S. dollar remains strong, the U.S. stock market closes in on all-time highs, inflation remains in check, these clowns refuse to address their miserable predictions. Instead, they distract their sheep with more buzz words and phrases that really have little meaning such as "currency wars."
Based on Schiff's terrible track record and ridiculous statements, in my opinion, anyone who has money with Schiff's Europacific Capital is a damn fool. And you know what they say about fools and money.
[If Mr. Schiff would like to make his case to me as to why I should not be worried about his "investment strategy" on a neutral platform (live), I am willing to listen, BUT he must allow me the chance to respond.]
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GOLD ARTICLES
(do NOT read one and form your opinion; you can
only obtain the full picture by reading each article)
Kitco: The CNBC of Gold
Manipulation of Gold and Silver Prices
Understanding the Proper Use of Gold and Silver
Kitco Senior Gold Analyst Agrees with My Views on Gold
Dismantling John Williams' Hyperinflation Predictions
Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 1)
Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 2)
Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 3)
Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 4)
Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 5)
Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 6)
Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 7)
Debunking the Myth that China is Selling U.S. Treasury Securities
The Importance Of China To The US Economy
Understanding Manipulation of Gold by the Media
Gold Propaganda from Raymond Dalio
We Predicted The Market Selloff Yet Again
You can find much more about charlatans by accessing our massive and constantly expanding Encyclopedia of Bozos, Hacks, Snake Oil Salesmen and Faux Heroes.