by John Galt
June 12, 2018 21:40 ET
No, I am not here to pick on Glenn Beck but to point out that this era is indeed “The Golden Age of Hucksterism.”
According to this individual who advertises on every conservative talk show known to man, give or take a few, Bitcoin will rise almost 90% from its current price to over $50,000 per coin after “lightning network launches.”
Sadly, uh, no. Tonight’s price as of this writing (monthly view courtesy of Investing.com):
But heck, that’s minor to compared to one of his other predictions:
Weirdly enough, no one has questioned his calls nor challenged them on the air. I know Clear Channel, aka, iHeart is bankrupt and many of the production companies with overly priced talent pushing content that is not so hot shall we say needing advertisers, but really? If this guy and so man others are so “hot” and “knowledgeable” about Bitcoin, etc., then why are they teaching and not multi-billionaires from cornering the market?
That is not the only example however. As I travel the state, I am entitled to listen to other questionable offers such as the has been TV Superman’s Real Estate opportunities, where with zero down and bad credit you too can own homes and profit by flipping. Think I’m crazy?
Yeah, I hear those ads on the radio all the time also. But if getting involved with a real estate network where suckers, er, investors with shit credit and no experience in the rental industry or flipping can do what Goldman Sachs got assraped for in 2006 is so hot, then why is a loser guy who played Superman hocking it? Better yet, if the “experts” teaching these courses, of which there are HUNDREDS, know what they are talking about, then why would they have “classes” and not corner the market themselves?
Mr. “I’ll never have an advertiser I don’t believe in” Beck also has been promoting the very thing he warned about in 2007; buying 2nd homes with little or no money down in other states for vacation rentals.
Please Glenn, pass the Hannity Snake Oil after you take a swig.
In the past, I ranted on the radio and on these pages about fake medications, people who told you to take colloidal silver until you turn into a giant cod like creature, and my favorite, “Cash for Gold” stores. For those who have not been paying attention, all those empty retail spaces in malls, strip malls, and former 7-11’s that turned into “Cash for Gold” stores are gone along with the stoned chick with big hooters flashing the sign to sell your gold for profit now.
America is looking for a quick buck.
Everyone seems to think that the stock market, ETFs, some asswipe mutual fund manager, or a radio talk show host has the answer. The same types of people take advantage of the desperate telling their listeners and viewers that they can cure gout, solve your tax problems, and miracle of miracles create wealth with no risk or experience if you just spend $299 for their class.
What most people fail to understand is that these people have been around for thousands of years.
I just warn everyone as the markets of every type approach their peaks:
Cryptocurrencies, government bonds, currencies, stock markets, paper precious metals, real estate, miracle cures, etc…
If it is too good to be true, IT IS TOO GOOD TO BE TRUE.
Even if a famous talk show host, TV host, or preacher promises such. My friends we are at peak huckster, invest, divest, and use you money wisely…..
Because the crash that is coming will be a mother you know what.