Tuesday, October 04, 2011
Your gold is about to expire
This one will not remain online long, I'm pretty sure. So here's the important part:
00:23 "…Some investors aren’t confident that, what, what gold is backed by or if it’s backed by anything at all, as compared to something like the US dollar. Investors are comfortable that the US dollar is backed by the American government. So no matter what is happening to the American economy, something like the US dollar is backed by the Federal Reserve - that’s going to be around a year from now. That’s a much more comfortable investment for them."
(h/t: Astrosmith)
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7 comments:
She has that BBC "accenting on random syllables" thing down
Well, she ain't on TV/reporting because of her brains (if you know what I mean and I think you do).
It never occured to her that people might be selling their gold because it was at an all-time high price and looked like it wasn't going to go any higher. People sometimes make money by buying low and selling high. In fact, that is why they buy in the first place.
With logic skills like those, she has a promising career ahead in either management or politics...
(I shan't speculate on what position she might assume in either.)
Agreed. It's obvious that she's trying to summarize an opinion, given to her by someone else*, that she didn't understand.
Not that this is a problem for the financial press. After all, they routinely make up reasons for why the market went went up or down, and they will often assign the same reason for each.
No, there are two things a spokesbabe is supposed to do: a) look good, and b) sound confident. She nails them both.
* she has a "Todd Hirsch says" tucked in there. I wonder what he thinks of her conclusion.
Come on, Canada. You guys keep bragging about how much smarter you are than us.
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