First she says gold isn’t backed by anything?? And what is she talking about when she says, “about a year from now.”
–found by Tex Ligums
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Sounds like the propaganda machine got a hold of her. Two legs good, four legs bad.
Note to Illuminati, good lookin’ tits + ignorance + propaganda = fail
Just a little tutorial: GOLD IS BACKED by the world shortage of same and governments and merchants willing to barter goods and services based upon this objective static fact.
A year from now? ===WHO KNOWS WTF will be happening regarding the gold supply? That Big Collider in Europe is busy making gold from lead. A year from now, Gold might flow like fertilizer from cows! No similar fear the US Backed Script will do anything but slowly decline in value. Its much more stable than dumb old rocks in the ground.
Easy Peasy. Where do I get my check?
Did you just say gold is backed by merchants willing to barter goods and services? Do you understand what being backed by something means?
She better sale what she has now all of it…..
You know normally Calgary CTV is an okay place to go for news. Yes it’s as compromised as the others but they tend to have a bit less then I’ve seen in the US news reports.
Alas this has ended now and I will have to switch stations. If you have ever seen Bridget before you’ll realize that yes, she is as dumb as she looks. Just another sign that they are just making this stuff up as they go. Put a pretty girl on and you can tell everyone they are going to die and they just won’t care.
GOLD is backed by a few things.
1. OIL PRICES
2. the Products MADE WITH IT..
This has happened a few times in the past.
A consortium TRIES to corner the market on silver/copper/gold..
Prices go up and UP..Others try to gather gold also, to SELL to them at higher prices(as they go up)..
IF the consortium gets enough control, they will DROP the market to FLUSH out the Extra gold/metals they want(others will dump gold FAST to get the High value). THEN the consortium will buy it up..
THEN they have control of a product and can sell at ANY PRICE. Mostly to those that use it for GOLD coatings and electronics..
Ask the Hunt brothers how well that worked out for ’em…
Trying to corner the market is an idiots’ game because as soon as you’ve cornered a market, the government comes in and commoditizes your ass.
That’s why nobody is really trying to corner any commodity market.
Actually, diamonds are plentiful but is market controlled!
Gold is backed by oil prices? really? So if gold goes down, ‘oil prices’ will step in?
That’s the dumbest argument I’ve ever heard.
gold and oil go hand in hand.. as 1 goes up the other does also.
The difficulty tends to be the USE of gold.
There arent many GREAT uses for gold.
Jewelery and high-end contacts in equipment.
The only thing that Gives gold value tends to be rarity, and how pretty it is.
Technically what she said is true, however mangled she might have delivered it.
Gold as traded on the commodities exchange isn’t really backed by anything other than a promise to deliver. All that is ever traded on ComEx are these promises. Same on the NYSE; gold stocks (those representing mine interests and indices) are traded, however these electronic blips really aren’t backed by anything.
Now, she may not have actually been referring to that, or known that, but what she said is certainly valid.
I would prefer to see her say it on The Naked News, though 😉
“And I leave my entire estate to the people of Calgary so they can afford to move someplace decent!”
-The Frantics
It’s cute how you people think she actually had a hand in what was written on the teleprompter.
Clearly you’ve not heard about the problem with gold, and how it’s literally turning to mud next year due to a computer virus created by Iran. As she reported earlier.
Hey JCD, Are you warming up to gold? hahaha
The noagenda IRC greets you
The normal result of massive quantitative easing and run away national debts is massive inflation.
That doesn’t seem to happen with gold.
Inflation can only come if wages go up first.
Otherwise consumption goes down, and cost of production goes through the roof (because everything is scaled to produce at an optimal rate).
You’re welcome.
OPTIMAL, cool word for cutting every corner possible and keeping prices the same..
Cut those 20 stores that are within 5 miles of everyone, make 1 LARGE store 20 miles from everyone with 1/10 the people.
YEP, you got that right. So that extra PROFIT for not lowering prices??? WAGES ON TOP.
ha, the YEW ES DOHLLUR
certainly seems like propaganda to me
Golds drop was not significant even in the last 5 days forget about years and the volume of trade was less then other days.
So to call it a significant drop, when its not, and to say there large volume when there is not is somebody placing this story to actually drop the price of gold?
Gold always turns down if another “investment” has better yields.
If you are counting on your investments to maintain wealth long-term, you must put your money in the instrument that is at, or above parity, with the mean yield. Otherwise, you lose money relative to the mean, which means you are moving backwards in a personal recession.
To correct my previous statement, currently the only wage inflation is in the world of wages derived from investments in markets.
These comments do not constitute investment advice, and you must make your own decisions regarding your investments.
This is what happens when you get your education glancing at a Wikipedia entry 15 minutes before the broadcast.
Fortuneately her Teapublican vice presidential vetting is unaffected. She passed the corndog eating contest knows the names of most continents.
She make a point.
The price of gold is completely capricious at this point. The bubble is going to pop.
The stupid part is when she says that the US dollar is “backed” by the Federal Reserve.
Sure. Take your dollar to the Federal Reserve. They’ll tell you to go spend it because they won’t give you anything for it, not even another piece of paper. The treasury office doesn’t take cash either.
That’s an easy one.
Come for dinner to my apt. I’ll tell you everyting about gold.
She is definitely dumb enough to hold her own. But my fellow Chinese newscaster can easily beat this woman to the dumbest newscaster title.
http://kotaku.com/5919482/chinese-news-confuses-masturbation-toy-with-a-mysterious-mushroom
THE MSM has lost all creditability
Sheila
http://www.survivingsurvivalism.com
The word is credibility, Sheila.
Gold has been manipulated by speculators for years.
Speculators have been manipulated by speculators for years.
Don’t blame her, blame Todd Hirsch (toddhirsch.com), who bills himself as “Alberta Economist, Author and Speaker.”
What? says:
“Inflation can only come if wages go up first.”
What?
Since about 1980, wages have been approximately static, while productivity has soared and prices have gone steadily up and up and up. The money is worth about 1/3 what it was then — in 1980, for example, I could buy a newspaper for a quarter that now costs 75 cents, and so forth. I’m sure many here old enough to remember 1980 can give a lot more examples.
http://qrc.depaul.edu/djabon/cpi.htm
You are right. If someone makes below the median income, their costs have gone way up with respect to that income. Minimum wage earners are especially squeezed. I figure minimum wage should be $20-$25/hr vis-a-vis 1980 dollars.
If someone makes slightly more than the median income, their costs have appeared to remain in proportion to their income.
If someone’s appetite for goods and services has grown, then their costs have grown (big house, fancy car, living large etc).
My rule of thumb is that costs nominally double every ten years, and income (in the middle bracket) follows. Gas didn’t follow this trend for a time, but is back on track.
In today’s world, many people want to live above their means, punch above their weight class – but are soon knocked out.
Well newspapers might be a bad example since 30 years later less people are reading them in favor of the internet (and TV). Newspapers are raising their costs to compensate for a business on it’s deathbed.
John Bolt with a quick thrust backed up with the red herring of a question unanswered says:
6/19/2012 at 4:46 pm
Did you just say gold is backed by merchants willing to barter goods and services? Do you understand what being backed by something means? //// No, I said much more than that. But I like your challenge.
How would you explain the value of gold?
-or – how would you define what “backing” means in economic affairs?
Does backing up include a willingness to barter based on the presumption that others will too all BASED ON the further assumption there will not be a massive increase in the gold supply?
Who understands economics?
You’re reading way too much into this and misinterpreting her.
She said “some investors” think there’s nothing backing up gold. A year from now the dollar will still have backing of the fdic, whereas gold might not, hence the first statement.
I’m surprise you posted this because you thought otherwise.
Do you mean the same FDIC that is in the red right now?
Gold doesn’t need “backing up”, since politicians can’t print or produce more of it by fiat.
What backs gold? HUMAN GREED! Seems obvious to me.
like any other form of currency, gold is only worth as much as people are willing to exchange for it. and since gold, despite its many practical applications, has no survival value, it’s going to be just as worthless as paper money if the economy eompletely crashes and burns.
then again, the u.s. dollar is only backed by the government’s word. as xjonx pointed out, gold is backed by human greed, which is a lot more consistent.
personally, i’d like to see an economy based on bottle caps and soda tabs.
As long as people don’t produce *everything* they need themselves, they will want money for trade. Need medicine? Spare parts? Electricity? Tools? Computer? etc etc etc. Money as a technology is extremely useful, and gold is the best material for it both because of its physical nature and its long history as money. As other currencies (especially the USD) lose their appeal, gold will rise in price because it is the king of all currencies.
When someone writes an post he/she retains the thought of a user in his/her mind that how a user can understand it.
So that’s why this piece of writing is amazing. Thanks!