Cnbc And The Gold "Selloff"

bjones,welcome to the forum! are you primarily a collector? or are you a precious metals accumulater? or both? Hope you find the forum helpful.

both, I have a few dealers in my family.

I hate that. If it goes down $0.47 they'll say it went up! When it goes down like a stone they encourage you to sell. Ridicule.

(If you hate rants, skip this paragraph.) Remember that everything is relative - in a relation with other things. There may be some objective Truths out there, but HOW one uses them is a different game. e.g. One could use the same law to prove innocence and guilt. Semantics are quite another game used by the media. There are way too many words in the Englsih language that either sound alike (homynyms) or have more than one definition. We ought to rename everything in Latin and not be ashamed to know more than one language or speak in a proper fashion.

But getting back to the topic of gold sellers, you gotta love the ones trying to buy your "old" and "broken" gold. They make me laugh hard.

You could say that anything is rising or falling at any given time. I'd be really stunned if suddenly a stock or commodity just flat-lined for months that had emerged from a free market.

The truth about the big sell-off is clouding public perpective of gold because of its historically high price now. Most people see a $1600 tag and rush to sell. 'Useless gold, or useful cash for necessities?' Sadly, most people will not reinvest that money.

The only reason I watch CNBC is because Maria Bartiromo just too hot! http://www.bartiromo.com/

Never mind that, Junior, just send me a good sketch of where you tossed in your gold coins!

As to CNBC... yes, I watch it but do not believe all I see and hear on this channel. Some useful info comes along from time to time. For the most part, though, CNBC is a cheerleader for Wall Street... and Wall Street LOVES stocks, likes bonds, and hates cash and gold. Fact is, Wall Street loves anything that lines their pockets and hates anything that doesn't. Once an investor buys gold, the money that was used to do that disappears from an account and reduces the commissions that the account generates. Gold is rarely sold off and the money resulting from its sale invested in stocks, bonds, or mutual funds. People who buy gold tend to hold it for long periods and then only sell it to buy something like a house or car. To a commission hungry broker, gold is simply "dead money". For the rest of us, dead money is that portion of our wealth that is lost to inflation, for it is truly dead and we will never see it again.

The really humorous part about the selloff comment is,the drop was almost entirely a result of the dollar gaining strength,not a selling frenzy. That is why the stock market was dropping at the same time,stronger dollar,more expensive exports,lower foreign profits.

One of the really great things about the Internet is that it allows us to gather info from MANY different sources, sift through that info, and then make an informed decision. When I am doing this, I like to get info from at least 4-5 different sources so that the bias of 1 or 2 does not cloud the issue.

Cramer is an interesting fellow. He's been there and done that in the investing world. Even so, no one is right all the time, even Cramer. What I like about Cramer is that he tends to own up to his mistakes... unlike most others on CNBC. While I do watch Mad Money now and then, Cramer is a trader and I am an investor, so his advice often doesn't fit my investment strategy very well. Still, he IS entertaining most of the time.