Conspiracy Theories

Posted by Ray on July 28, 2009 under Main | Be the First to Comment

Twice this morning CNBC has said conspiracy theorists believe GLD and SLV do not own physical metals. They also poked fun at people who believe other things that are contrary to what “they” think or say is true.
I am not going to get into specifics, but what I will say is this, not everyone who disagrees with CNBC is a conspiracy theorist and CNBC does not, clearly, know everything. If they did they would not have cheer lead the markets false bull market from 2003-2007. From what I see it is obvious that the network is just going to discredit people who believe the contrary to what they hold true, which is all hope and good news versus reality.
For example, they say that conspiracy theorists say the bailout of AIG was for Goldman Sachs and they say that is a ridiculous thought. OK, so Goldman gets 100 cents on the dollar of their $13 billion versus pennies on the dollar for other firms. Well, how about how Blankenfeld was the only CEO to show up during the whole AIG bailout meeting at the NY Fed, then left after he realized it. How half the representatives were from Goldman Sachs. I guess I am a conspiracy theorist because I believe the biggest beneficiary was Goldman in the AIG bailout.
When the media calls people conspiracy theorists it is because they want to discredit people or ideas that hold a contrarian views from what they believe, or are told to believe. I find it disturbing that this is how CNBC chooses to do business and that they are pushing so hard to create conspiracy theorists where none exist. I am not a nut job or a conspiracy theorist, although I do like to read about them, I am just a guy who does his homework, unlike the network in question.