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Source: (consider it)
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Thread: The End of Britain or the End of Respect for Moneyweek?
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anteater
Ship's pest-controller
# 11435
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Posted
I'm sick to death of seeing adverts for this marketing ploy of Moneyweek which is basically a presentation prepared by their marketing department which is supposed to scare the shit out of you so that you subscribe to MoneyWeek to save you.
I was finally moved to post when I found it had even got a large advert of the web site of Catholic Herald! And Nouriel Roubini's blog (and he must see through it).
I've not been bothered to read it, having had the jist relayed to me by the daughter of a christian friend who has become convinced that Britain is d-o-o-om-e-d. If someone wants to get their message out, they shouldn't make me sign up for their free magazine offer.
There's a good rebuttal on Frances Coppola's blog, and it looks like sub Glenn Beck bollocks. Not that everything's hunky dory, far from it. But using dodgy arguments to scare people into subscribing to your magazine is not the way to earn my respect.
I also got treated to a rant over the New World Order, Agenda21 etc etc ad nauseam.
People sure like to read of disasters. Anyone bothered to watch the MoneyWeek doomshow. What did you think?
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Schnuffle schnuffle.
Posts: 2538 | From: UK | Registered: May 2006
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Anglican't
Shipmate
# 15292
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Posted
I've seen some of it. It goes on for a while and, though one can stop and start it, one can't see how long the video is or skip forwards or backwards, so I've no idea how much of it I've seen. I was watching it in chunks but then closed the page so would have to start watching from the beginning, which I have no inclination to do.
The argument that they were developing was a sound one (in my view) though I'm not sure that I agreed with all aspects of it and I'm not convinced that what they've said will necessarily lead to the doom they're predicting. But then again I didn't watch to the end so am not too sure of their conclusions.
Posts: 3613 | From: London, England | Registered: Nov 2009
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Doc Tor
Deepest Red
# 9748
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Posted
The Week (which I presume is a stablemate of Moneyweek) is a decent enough news digest magazine: we subscribe, so we get the occasional flyer for Moneyweek.
Moneyweek's schtick is that the housing market is fucked and will collapse in the near future to levels undreamed of in our philosophy, bringing all the remaining banks down in the process and making all other investments - bonds, stocks and insurances - worthless. The only safe haven is GOLD which they love with an unhealthy passion.
There are several problems with this analysis, the chief of which is that while gold is a precious metal, it is not an investment. It pays neither dividends nor interest. It just sits there, looking goldy. While a house can at least be rented out for money.
Someone, somewhere, is sitting on a big brick of gold, and having paid a great deal of money for it, they want it to increase in value (presumably so they can say how much it's worth, because unless it's sold, it's worthless). What better way of doing that than having a magazine that promotes the ownership of gold?
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Forward the New Republic
Posts: 9131 | From: Ultima Thule | Registered: Jul 2005
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Tukai
Shipmate
# 12960
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Posted
Especially after they have [notionally] "lost" 20% of their "investment", with the drop in the price of gold in the past few months!
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A government that panders to the worst instincts of its people degrades the whole country for years to come.
Posts: 594 | From: Oz | Registered: Sep 2007
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Barnabas62
Shipmate
# 9110
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Posted
Gold worship is a very pernicious form of idolatry. But I guess that like any other form of speculative investment, it's based on a view of how the market will go.
In this case, I should think it's got more to do with some sense that recent stock market surges have been inflated by over-optimistic sentiments or guesses. I think the rhetoric also gets inflated.
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Who is it that you seek? How then shall we live? How shall we sing the Lord's song in a strange land?
Posts: 21397 | From: Norfolk UK | Registered: Feb 2005
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Sioni Sais
Shipmate
# 5713
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Posted
quote:
Originally posted by leo:
quote:
Originally posted by Doc Tor:
The Week (which I presume is a stablemate of Moneyweek) is a decent enough news digest magazine: we subscribe, so we get the occasional flyer for Moneyweek.
Same here.
The Moneyweek insert is full of capital letters, which suggests it is from the fruitcake zone.
When they advocate moving into metal futures and emphasize tin, they will be there for sure. I have always wondered about gold. It's a refuge when times are hard so maybe couples should see the sign when gold rings are exchanged.
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"He isn't Doctor Who, he's The Doctor"
(Paul Sinha, BBC)
Posts: 24276 | From: Newport, Wales | Registered: Apr 2004
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anteater
Ship's pest-controller
# 11435
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Posted
. .and of course this raises the issue of how to respond to "take no thought for tomorrow".
Because whilst I don't have any truck with the MoneyWeek schtik, it is going to the other extreme to say that no problems are on the horizon, and the oft cited problem of all currencies being fiat currencies with the consequent possibility of high inflation is obviously not silly, at least IMHO.
So some of the MoneyWeek advice is good, if "bleedin' obvious" like not holding loads of cash, but I think we knew that already.
I suppose I'm annoyed with MoneyWeek having talked to some people who have taken it hook line and sinker and got rather anxious as a result.
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Schnuffle schnuffle.
Posts: 2538 | From: UK | Registered: May 2006
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Mere Nick
Shipmate
# 11827
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Posted
A question I've had for a long time is if gold is the obvious thing to buy, why are the folks saying it paying for advertising and publications saying it is the thing to buy instead of just buying the gold themselves?
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"Well that's it, boys. I've been redeemed. The preacher's done warshed away all my sins and transgressions. It's the straight and narrow from here on out, and heaven everlasting's my reward."
Delmar O'Donnell
Posts: 2797 | From: West Carolina | Registered: Sep 2006
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Doc Tor
Deepest Red
# 9748
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Posted
I'm assuming that if they've already got the gold, the only way it can increase in 'value' is if the price per oz goes up.
If the actual need for gold as an industrial metal increased, then the value of it would become more real rather than theoretical - but as it stands, the actual dollar price of gold is powered not by need but by greed.
It's impossible to disassociate the worth of gold from its speculative cost, of course. It's a good job similar speculative bubbles don't exist in genuine commodities like sugar, grain, coffee and cocoa, otherwise poor people's livelihoods would suffer. ![[Disappointed]](graemlins/disappointed.gif)
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Forward the New Republic
Posts: 9131 | From: Ultima Thule | Registered: Jul 2005
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Bostonman
Shipmate
# 17108
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Posted
People who are into gold are generally pretty bad at the basics of microeconomics. The argument is that gold, because it has a relatively fixed supply, will hold its price very well. The problem with that is that, since the early-nineteenth century, everyone has known that price also depends on demand. Gold on its own has no value, no matter the supply; it only has value to the extent that people want to buy it. So if the whole world economy collapses, why on earth would people respect the value of gold rather than something with more use-value? (i.e., food, or fresh water)
Hence the advertising: have to keep up demand to keep up the value of gold!
Gold is only a good store of value to the extent that people arbitrarily believe it to be a good store of value. The same is true of any money, of course, but this makes it hard for gold-advocates to explain why gold is ESPECIALLY good in a collapse.
Posts: 424 | From: USA | Registered: May 2012
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ken
Ship's Roundhead
# 2460
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Posted
I never heard of "Moneyweek" before this thread. Wherever they are putting their little ads they haven't got to me yet.
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Ken
L’amor che move il sole e l’altre stelle.
Posts: 39579 | From: London | Registered: Mar 2002
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Mere Nick
Shipmate
# 11827
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Posted
It was more of a rhetorical question. I've not bought any gold because I have a 20 ounce roll of silver that I bought close to thirty years ago and it can collect dust just as well as gold can.
I've noticed that there is just not much of a rental market for gold and silver. If someone would pay me money to hold my metal for a little while then it might be something to consider. That's why we have a rental property instead of buying more metals. Further, I doubt I could buy a metal and finance 80% of it for 30 years at 4 1/8% and pay it off with rent from it. If times get really bad I can't move into an ounce of gold and plant a garden in its back yard, either.
But gold is an excellent hedge against a declining currency. At least, after real estate, stocks, seed, guns and ammunition, education, non-perishables, dry goods, toiletries, or anything else I might find useful, gold looks real good to me.
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"Well that's it, boys. I've been redeemed. The preacher's done warshed away all my sins and transgressions. It's the straight and narrow from here on out, and heaven everlasting's my reward."
Delmar O'Donnell
Posts: 2797 | From: West Carolina | Registered: Sep 2006
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anteater
Ship's pest-controller
# 11435
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Posted
Ken:
You mean you're not a reader of Catholic Herald??
![[Smile]](smile.gif)
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Schnuffle schnuffle.
Posts: 2538 | From: UK | Registered: May 2006
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Siegfried
Ship's ferret
# 29
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Posted
The Wikipedia entry for Moneyweek specifically mentions their marketing materials are designed with extreme views intended to shock.
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Siegfried
Life is just a bowl of cherries!
Posts: 5592 | From: Tallahassee, FL USA | Registered: May 2001
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Emily Windsor-Cragg
Shipmate
# 17687
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Posted
I couldn't care less what Moneyweek says.
"Babylon the Great has fallen," says that the ancient order of moneychangers is coming to an end.
Cosmic prophecy says more to me than this week's popular prognosications.
Indeed, I believe we shall be throwing our money into the streets as sandbags against flood.
Loving each other and mutual caring is more real and incumbent than what Wall Street is doing.
That's why I cam here, right?
Emily
Posts: 326 | From: California | Registered: May 2013
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Doublethink.
Ship's Foolwise Unperson
# 1984
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Posted
If you are not interested in the topic of the discussion, you are not obliged to participate in the thread.
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All political thinking for years past has been vitiated in the same way. People can foresee the future only when it coincides with their own wishes, and the most grossly obvious facts can be ignored when they are unwelcome. George Orwell
Posts: 19219 | From: Erehwon | Registered: Aug 2005
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Emily Windsor-Cragg
Shipmate
# 17687
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Posted
Thank you for this reminder.
However, the realization that "money is temporary" is part of the slicing and dicing of Truth in finance.
There are other ways to trade, barter, cooperate, share and invest ... besides the Banking and Commodities Industries as they exist today.
That was my point.
Em
Posts: 326 | From: California | Registered: May 2013
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Cod
Shipmate
# 2643
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Posted
quote:
Originally posted by Bostonman:
So if the whole world economy collapses, why on earth would people respect the value of gold rather than something with more use-value? (i.e., food, or fresh water)
If the world collapsed into absolute barbarity, you might have a point. Even then, however, the other examples you give have problems not shared by gold: food perishes, fresh water (by which you mean a supply) has to be protected and cannot be hidden. By contrast, gold is portable, indestructable, and its beauty makes it useful as a sign of status.
But we aren't talking about utter collapse: just a severe contraction. In such a situation, it is precisely the fact that gold is considered 'safe' that give it its use-value. It is hardly unique in this respect: witness the recent spikes in silver, palladium, and non-major currencies of developed countries, none of which have much if any greater use-value than gold. One could even add houses, when one considers that many investors buy them to take advantage of rising capital values rather than rental yields.
Posts: 4229 | From: New Zealand | Registered: Apr 2002
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