Monday, January 11, 2010

Goldbug Exterminators

Gotta love the uncloaked disdain financial TV pundits have for gold. Not only are they incapable of talking the yellow metal without constant digs at “goldbugs,” but recently I’ve seen them mocking the “Hock Your Gold!” commercials that air on their own networks.

Yeah, "SELL YOUR HEIRLOOM!" ads are putrid spectacles (and gold permabulls can be pretty hopeless). But so are many of the technical analysis/STOCK ‘TIL YOU DROP commercials these channels run with nary a smirk. Never have I seen a pundit finger the hokey ads for shaman stock pickers as signs of an equity bubble.

Silly or not, "HOCK YOUR GOLD!" sponsors are still sponsors. It says a lot about the mainstream’s dismissal of gold that in an era of withering ad revenue not even gold oriented sponsors are safe from their barbs. If you're a TV finance hack who wants to crack wise about your advertisers to make it seem like no hype escapes your probing, seen-it-all eye, then jokes about technical analysis gurus should be head-and-shoulders above the rest (see how easy that was?).

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