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Glenn Beck

Glenn Beck is known for using goofy props to help him explain the world; the chalk-board flowchart and pointer routine is one of his most parodied. Or, it was, until the night before last, when he broke out the cupcakes.

The bizarrely twee segment begins with Glenn approaching a table of cupcakes and saying "Hello cupcakes, I miss you. Do you miss me?" in a sing-songy voice.

He then launches into a brief history of global finance taking us from World War II to present day, more or less. There are more than a few moments than an economist might take issue with, but it's still worth watching, if only for the moment where Glenn holds his quivering hands around a plate of cupcakes and growls, "Gold. In my world, this is gold." 

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Comment ( 1 )

Mar 03 11 at 10:01 pm
Sam

I am pretty sure Glenn Beck doesn't know what money is, nor has he ever tried thinking about the gold standard. There is a reason we left it. When recessions strike in a gold standard, people lose faith in the currency and exchanged it for gold. However, there is only X amount of gold in the bank, so banks need to convince people to keep cash. To do that, they raise interest rates. This makes it harder to borrow, so businesses can't operate as smoothly and the economy gets worse. People then lose confidence and the cycle continues. This doesn't happen with a fiat system. Things stopped getting worse during the Great Depression for countries almost at the same moment they abandoned the gold standard. It's not terribly difficult to understand.

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