Segment 1: Between a Rock and a Hard Place SEGMENT BEGINS AT 00:38 Economist Jerry Robinson provides his signature commentary on the momentous news stories that have been making waves in the financial world and shares profitable investment strategies, as well as...
Corporate controlled Mainstream Media. The most powerful special interest group in Washington is the media. They serve as a gateway to the American public, and every politician wants access to the people. There is an alternative strand of media that is growing, but that strand is still dwarfed by the “Big 6” media giants.
Mainstream Media Consolidation. In 1983, 90% of the American media was controlled by 50 companies. Today that same 90% is controlled by only 6 companies. They are:
- Comcast (NBC, Universal Studios, etc.)
- News Corp (Fox News, WSJ, etc.)
- Disney (ABC, ESPN, etc.)
- Viacom (MTV, Paramount Pictures, etc.)
- Time Warner (CNN, HBO, etc.)
- CBS (Showtime, 60 Minutes, NFL.com, etc.)
Profit maximization is the ultimate goal of every corporation, and if that goal becomes entangled with reporting the truth in the news, what will ultimately win out? Do you think the media will tell the truth to the detriment of their bottom line?
Flight MH17 and the Media. In a televised Russian Defense Ministry meeting, Russian officials presented evidence from a Russian radar that four commercial airplanes were in the area before the crash as well as a fighter jet. It also has a picture of a U.S. satellite moving directly over the area of the incident. In other words Russia is presenting proof of their ideas of what happened that day, but why did the U.S. media fail to even mention this evidence? And why were they accusing Putin of involvement without any evidence?
Why are Republicans Angry at Putin? Why do Republicans trust Obama on Russia’s involvement in this plane crash? After all, they cannot trust Mr. Obama on Ben Gazhi, the IRS, the VA, gun control, healthcare, or his claim to be a Christian, or even his claim to be a U.S. citizen. But friends, these same Republicans rushed to trust Obama and the Administration’s claim that Russia and Putin were somehow involved in this plane crash. This, friends, is the power of the mainstream media.
Presidential Elections and the Media. Think about the power the mainstream media has over presidential elections. As evidence, take a look at this Glenn Beck clip. In it, Beck says that Fox News is not covering Ted Cruz (on the border crisis) because he’s ‘not their pick’ for president in 2016.
After hearing this clip from Glenn Beck, you are logically forced into one of two conclusions. The first choice is that Beck is a nut job and Fox does not have a “pick” for president (in this scenario Beck is a nut and Fox News really is fair and balanced). The second choice is that Beck knows what he is talking about because he used to work at Fox News and found out they do indeed anoint a presidential candidate. In this scenario, Beck is for real and Fox News is nowhere close to fair and balanced. And by the way, Fox News is owned by one of the “Big 6” corporations (News Corp).
One of the slogans Fox News uses is “We report, you decide”. One thing we, as viewers, didn’t get to “decide” from Fox News is Ron Paul’s opinion of the Federal Reserve and the national debt because the media blacked him out during the 2012 presidential race. There was not even a mention of the Federal Reserve in any of the presidential debates in 2012.
Illusion of Choice. Keep in mind that you will be given the “Illusion of Choice” between a Republican and Democrat in 2016. The news reporters will pretend to report balanced information, and you will think you are being offered a great choice between polar opposites. One thing is certain come 2016, the news stations will report, and they will decide.
Also on today’s podcast, Precious Metals Advisor, Tom Cloud, is here to provide an update for gold and silver investors and shares an amazing deal on junk silver (near wholesale prices for FTMDaily listeners!). Jerry provides his daily commentary on the stock market, gold, and silver. All this and more is right here on Follow the Money Daily!
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