Everyone seems to be making fun of Paul Krugman, who's out on the NY Times oped page today, suggesting the run-up in gold might be due to Goldline's advertising on Glenn Beck show. Both Bob Wenzel and Bob Murphy have added their two cents.
Krugman concludes:
Market prices almost always tell you something useful. But sometimes what they tell you is that there’s a marketing scam in progress.
I'm afraid I have to side with Krugman on this one as I think he's on to something. In fact, should demand ever falter for the Treasury's notes and bills, I suggest the Fed simply purchase airtime on its behalf on the Glenn Beck show.
Call it QE Beck, a truly patriotic marketing scam.
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