Gold is a terrible investment. Don’t tell conservatives. In the last few years gold retailers have made a fortune off of fools who have been scared away from rational investment decisions and funneled into idiotic schemes like buying precious metals. A fool and his money are soon parted, I suppose.

Usually I wouldn’t approach a subject like this but I saw the AP mention it today:

SAN FRANCISCO (AP) ? For gold sellers on eBay, the recent stock market turmoil has been a boon for business.

Gold and silver sales on eBay had already been rising steadily over the past several years ? so much so that eBay Inc. created a special area in May to make it easier for buyers to find sellers.

Now, activity on that part of the site, the Bullion Center, is intensifying as consumers unnerved by the economic uncertainty flock to gold in hopes it will be a stable investment.

While it may be unfair to some people who feel they are making rational investment decisions in precious metals I can’t help but imagine these people are buying gold because they are scared to death and have been listening to the wrong advice. Fear isn’t always rational and there is nothing rational about this increase in gold buying.

I grew up in a small region of the state of Arkansas where a Democrat in the White House was as good of an excuse as any to buy more guns and spread more lies about big government. Clinton nearly drove a few families I knew to the mental hospital over the paranoia. One person claimed to have chased suspicious black hummers up into the hills where they lost them conveniently without a trace. What would the federal government want with a tiny nobody town in America? God only knows. The paranoid are left only to speculate.

It’s no better under Obama. It may even be worse. A survival outfit has put up shop in that same small town now and is giving and selling advice to residents on how to prepare for the worst. For instance the owner is literally advising people to buy galvanized pipe with two screw caps like you would use for pipe bombs (his words, not mine). He wants you to take all your money out of a bank, convert it to gold, put it in the pipes, and bury it all in the ground. He won’t say where he buried his gold. I’d like to ask him where he buried his common sense.

The gold retailers simply love that mentality. In fact they pay folks like Glenn Beck and Sean Hannity to feed into the paranoia. At the end of his TV run on Fox Glenn Beck’s only remaining advertisers seemed to be every outlet that sold gold in America and a group of nut jobs selling seed packets to live off of when our way of life comes to an end.

That same mentality I’ve witnessed in my small town for years as a child and an adult is in the roots of the TEA Party. It’s not rational or fact based. It’s reactionary and paranoid. The roots run down into rocky soil and the leaves get watered by the convincing liars like Limbaugh, Beck and Hannity.

The United States as a whole is now witnessing what myself and so many others have seen in small towns across America for so many years. It’s always been this way but it’s never had so much voice until now.

There is an interesting disconnect between those who claim to be patriotic while at the same time promoting an absolute lack of faith in the federal government, the treasury, and our banking system. I guess some just love America so much that they feel compelled to pull their money out of the economy and literally bury it in the ground like idiots. We live in interesting times, to say the least.

Source: http://www.watchblog.com/democrats/archives/007663.html

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