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Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 5)

You certainly don’t have to be an annoying, brainless talking head to make money pumping gold. Anyone without a conscious could have been a millionaire if they had been a gold dealer over the past few years, and if indeed their goal was to make money by that means.

But hey, for those of you out there who don’t mind ripping people off or at the very least deceiving them, there’s still time to make buckets of cash selling gold. After all, with typical fees of around 3-5% per transaction, it doesn’t take more than a third grade education to realize that the higher the price of gold rises, the more money gold dealers extract from buyers.

The gold charlatans make sure to keep things real simple so that the most naïve individuals can follow their dog-and-pony logic. When it comes to the sales pitches used by gold dealers, nothing goes beyond the tenants of what is taught at Simpleton University.

They never discuss the full picture. That is, they don’t look at inflation and gold data from sufficiently long periods. If they did, they would see that gold underperformed inflation. Instead, they cherry-pick the data, much like Wall Street does when they want to convince you that you should buy-and-hold. The same goes for mutual funds.

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