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Even A Pawn Star Knows "Governments Can Screw Up The Currency"

Tyler Durden's picture


Day after day we are force-fed the typical mumbo-jumbo jargon memes from strategists, analysts, and asset-gethering commission-takers. Today we get a breath of fresh air from, arguably, the man on the street - whose perspective seems very prescient. 'Pawn Star' show business owner Rick Harrison explains to CNBC - in words that we can all understand - why gold remains a crucial insurance for people because "governments can screw up the currency," how our economy is based purely on printing money, physical gold and paper gold disconnects - "I'm having a real difficult time right now getting physical metal. It is the crazy world of gold and silver; sometimes the paper market is going down, but you can't actually find the physical items," and the increasingly bubble-like reality of our housing market (especially in Las Vegas).



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Fri, 06/28/2013 - 13:29 | 3703790 fightthepower
fightthepower's picture

Fuck you Bernanke! 

Fri, 06/28/2013 - 13:30 | 3703797 Canadian Dirtlump
Canadian Dirtlump's picture

in fact, while on the topic of pawn stars, Chumlee can fuck him in the ass taint deep first stroke no lube with his hat on backwards.

Fri, 06/28/2013 - 13:39 | 3703835 fonestar
fonestar's picture

This dickhead brings up the 1930's?

It is not the 1930's!  And in the 1930's we were on  a **GOLD STANDARD**!!

Fri, 06/28/2013 - 13:42 | 3703846 francis_sawyer
francis_sawyer's picture

They should have brought on Bo Diddley...

Fri, 06/28/2013 - 13:48 | 3703873 ParkAveFlasher
ParkAveFlasher's picture

+1 ... I'm really surprised they don't trot out Lil' Wayne to talk about his "THUG" and "LIFE" four-finger rings.  See?  Gold is for pimps and savages.  And, kings.

Fri, 06/28/2013 - 13:54 | 3703897 Lord Blankcheck
Lord Blankcheck's picture

Bo Diddley was the pawn broker in "Trading Places"

Fri, 06/28/2013 - 13:57 | 3703911 ParkAveFlasher
ParkAveFlasher's picture

WTF is this, Pop Up Video?

Fri, 06/28/2013 - 14:23 | 3703966 Bay of Pigs
Bay of Pigs's picture

"Who better than to talk about gold than...."

This is the kind of shit that passes for gold expertise on the BlowHorn?

Moar Full Retard Friday propaganda. 

Fri, 06/28/2013 - 14:25 | 3703998 ParkAveFlasher
ParkAveFlasher's picture

Who better to talk about gold then ... gosh, he's everyone's favorite ... RIP TORN!

Fri, 06/28/2013 - 21:10 | 3704356 FEDbuster
FEDbuster's picture

Might as well ask Mr. T his opinion, wtf? 

"I pity the fool who believes Obama and Bernanke."

Fri, 06/28/2013 - 14:30 | 3704010 francis_sawyer
francis_sawyer's picture

'Full Retard' isn't strictly reserved for the BlowHorn...


Last night... in the wee hrs... Some hotshot daytrader whose been on ZH 2 weeks wanted to make a mark for himself talking about "that moment" [of the bottom for Gold & PM's]... He was rolling out the same tired old 'CATHARTIC MOMENT' bullshit & saying we're nowhere near that point because it hasn't shown up on the magic charts yet...

So I call him out on his BS [mainly pointing out that all you have to do is look at the 2008 'bottom' of the Ag & Au charts to see that the  'CATHARTIC MOMENT' theory was not present at all, [you'd be 0-1]]...

Full Retard Friday started early...

Fri, 06/28/2013 - 14:38 | 3704049 Bay of Pigs
Bay of Pigs's picture

Haha, I always appreciate francis_sawyer coming in low and hard in his F-16 Fighting Falcon and blowing some schmuck out of the water.

This old Gold Troll sniper gets tired sitting on that ZH wall sometimes.

Fri, 06/28/2013 - 18:43 | 3704932 MedTechEntrepreneur
MedTechEntrepreneur's picture

F_S is a dumbass...and FYI...F-16's dont come in low and hard...they are not designed as ground attack aircraft...An A-10 would fit that description much better...

Sat, 06/29/2013 - 14:50 | 3705676 Bay of Pigs
Bay of Pigs's picture

Fuck off

Fri, 06/28/2013 - 15:09 | 3704148 caShOnlY
caShOnlY's picture

This is the kind of shit that passes for gold expertise on the BlowHorn?

I think it's great!  .. the retail sector talks gold and silver! real voices on real sales numbers and supply. 

 I bet would you rather have Charlie the munser, Warren's trusty colon polyp, explain the physical gold and silver markets?

Fri, 06/28/2013 - 15:35 | 3704319 Bay of Pigs
Bay of Pigs's picture

You missed my point. Nothing against him personally, but he is a pawn shop owner, not a gold expert.

How about John Embry, Richard Russell, James Turk or the GATA spokesman, Chris Powell? Oh that's right, they don't allow those guys on the BlowHorn, and for obvious reasons. They are terrified of the truth getting out via their little propaganda machine.

Fri, 06/28/2013 - 16:00 | 3704456 dmger14
dmger14's picture

I heard Russell rolled over like a cheap Vietnamese ho and is now a gold bear.  Where was the blow off top, Rich?

Fri, 06/28/2013 - 16:14 | 3704512 Bay of Pigs
Bay of Pigs's picture

Wow, that's news to me. 

Just we need, moar flip floppers.  

Fri, 06/28/2013 - 17:53 | 3704825 caShOnlY
caShOnlY's picture

You missed my point. Nothing against him personally, but he is a pawn shop owner, not a gold expert.

You missed my point: He's a retailer and he said what he is seeing: Short supply and prices decreasing.  He didn't advise anyone to buy or sell PMs.  We'll leave that to Jim Sinclair.

Did you hear Carl-the-bunghole defend the FED as he asks Rick "don't you agree that back in 1930's the Fed tightened too quickly?".   REALLY? he just had to throw that shit in there didn't he?!!  This is a chump station that usually parades the pumping chumps.  Your never going to get KWN regulars, Turd Ferguson or Jim Willie on CNblowme.

So in that matter I'll take Rick and his "on the street view" over a FIAT pumper any day.  

Sat, 06/29/2013 - 14:52 | 3705674 Bay of Pigs
Bay of Pigs's picture

Whatever dude. 

Fri, 06/28/2013 - 23:12 | 3705480 Les Grossman
Les Grossman's picture

"Full retard propoganda"  is right

...I also love how CNBC strokes this "fellow TV star" as an expert on "the global economy"

Its funny that he closes his commentray by advising people take short term capital losses on gold now and time their buyback after 30 days(Now this guy is a tax expert & market timer, I guess)

Fri, 06/28/2013 - 14:35 | 3704035 Spaceman Spiff
Spaceman Spiff's picture

For those that downvoted fonestar, he wasn't talking about the pawnstar guy.  Watch the video.  The nitwit anchor cautioned that tapering by the fed is the same mistake made in the 30's.


I was hoping that Rick would have knocked that one down the smarmy anchor's throat....    I have to wait for the moment when someone will educate cnbc that the market is supposed to move in 2 directions and not be cheer led into the next bubble.   I'm not holding my breath.

Fri, 06/28/2013 - 17:40 | 3704797 fonestar
fonestar's picture

No, I was not talking about Rick.  I was talking about the other guy.  Rick is AOK!

Fri, 06/28/2013 - 13:43 | 3703854 Gringo Viejo
Gringo Viejo's picture

Actually, I wouldn't mind seeing Chum as the next Chairman of the Fed. Hard to see how he'd do any worse.

Fri, 06/28/2013 - 13:47 | 3703869 The Shootist
The Shootist's picture

I respect the old timer on the show because he's a silver bug. They know the value of sound money.

Fri, 06/28/2013 - 14:05 | 3703942 ejmoosa
ejmoosa's picture

That's because they are making decisions with their own money at risk.

Fri, 06/28/2013 - 14:18 | 3703981 Sofa King Confused
Sofa King Confused's picture

Everyone should check out the headline Business Insider used on their site about this.

Fri, 06/28/2013 - 17:45 | 3704809 Dr Benway
Dr Benway's picture

Some classic quotes from the old man on silver.

"We don't sell silver, Rick"

"I'm keeping this bucket of coins"

But in the episode where the old man was squirreling away bucketloads of silver everywhere, they finally forced him to sell it.

Sat, 06/29/2013 - 05:10 | 3705715 StychoKiller
StychoKiller's picture

Hope he turned around and bought some Kruggerrands with the proceeds...

Fri, 06/28/2013 - 18:22 | 3704884 Yamaha
Yamaha's picture

Absolutely - we would be much better off!

Fri, 06/28/2013 - 19:33 | 3705028 Go Tribe
Go Tribe's picture

At,least everyone would have cool shoes.

Fri, 06/28/2013 - 16:24 | 3704553 SheepDog-One
SheepDog-One's picture

'Even' a pawn star'? I'd bet that paw brokers are 100X more wise to how shit actually works than any Wall St banker who only know to keep their hand out and demand money be placed in it!

Fri, 06/28/2013 - 22:00 | 3705371 Mike in GA
Mike in GA's picture

Rick is one smart guy, too.  He's well-versed in history and that alone is enough to make on appreciate fiat currency failure and gold's value.  I'd rather hear Rick's thinking than, say, Jim Cramer's.

Sat, 06/29/2013 - 00:07 | 3705553 Freddie
Freddie's picture

Chumley is more deserving of a Nobel Prize in Economics than the douchebag Paul Krugman.

Fri, 06/28/2013 - 13:32 | 3703804 Shermanium
Shermanium's picture

yeah sure, he looks good in a suit coat, but do they have "Battletoads"?

Fri, 06/28/2013 - 17:49 | 3704819 Dr Benway
Dr Benway's picture

They ARE battletoads, swollen and warty with toadlike physique and packing plenty guns.

Fri, 06/28/2013 - 13:34 | 3703810 alphamentalist
alphamentalist's picture

should check chum-lee's shorts. 

Fri, 06/28/2013 - 13:37 | 3703824 ParkAveFlasher
ParkAveFlasher's picture

Is it me, or is TV starting to sound like ZH ... now and then at least ...

Fri, 06/28/2013 - 13:47 | 3703866 CPL
CPL's picture

Because the media owners are starting to feel the fire under their own toes and it's going to get hotter.

Fri, 06/28/2013 - 13:51 | 3703885 disabledvet
disabledvet's picture

as media itself goes "we're it." having said that i don't think i'm ready for my close up. how 'bout all the rest of you?

Fri, 06/28/2013 - 18:26 | 3704894 CPL
CPL's picture

Eventually everyone has to step up and take ownership of their own lives if this is going to get fixed.

Sat, 06/29/2013 - 05:11 | 3705716 StychoKiller
StychoKiller's picture

Even a blind sow finds an acorn once in awhile...

Fri, 06/28/2013 - 13:39 | 3703831 So Close
So Close's picture

About as valuable as the other "experts" they trot out.  

Fri, 06/28/2013 - 13:43 | 3703853 oddjob
oddjob's picture

The simple fact that he did not even wear a tie makes his opinion more valuable.

Fri, 06/28/2013 - 13:43 | 3703856 Sabibaby
Sabibaby's picture

He's in the business of history and get's paid more than most history grads...

Fri, 06/28/2013 - 13:40 | 3703834 silverserfer
silverserfer's picture

bitches about not being able to obtain physical... then quit offering people 70% of spot fuckface!

Fri, 06/28/2013 - 15:09 | 3704187 ebworthen
ebworthen's picture

Well, he has the cash people want for their shiny - and he has to take the risk that it isn't a tungsten cored Chinese knock-off.

Fri, 06/28/2013 - 17:56 | 3704830 MeelionDollerBogus
MeelionDollerBogus's picture

He has the means to test metals to ensure they're real.
Oh wait, he has CHUMLEE doing that and training the next guy... nevermind.

Fri, 06/28/2013 - 13:40 | 3703838 frippy
frippy's picture

That asshat Denninger was mocking Gold yesterday, that might be the bottom right there.

Fri, 06/28/2013 - 13:48 | 3703874 oddjob
oddjob's picture

That thing he wears on his head should be called a hairy asshat.

Fri, 06/28/2013 - 13:57 | 3703912 Quinvarius
Quinvarius's picture

After 4 years of beatings he finally got a government intervention big enough to make back half of his losses.

Fri, 06/28/2013 - 13:41 | 3703844 rosiescenario
rosiescenario's picture

Just a thought on the CME and prices of its commodities:


If Hershey's CFO one day decided that his company could be a great deal more profitable if it paid 40% less for its main ingredient and he then reached the conclusion that his company should heavily short cocoa to achieve that goal, would Hershey's purchasing agents be able to actually buy cocoa at that price from their suppliers?


Of course not.

Fri, 06/28/2013 - 13:54 | 3703899 Quinvarius
Quinvarius's picture

Which is why either JPM or one of their clients is having a gold delivery problem at the moment.

Fri, 06/28/2013 - 14:01 | 3703924 disabledvet
disabledvet's picture

absolutely. if on the other had "there was this crazy man at the helm of the Fed" and he decided "i'm going to bankrupt the whole planet" causing the dollar to become really dear to everyone "they why the hell would even care." and of course the answer is "he wouldn't." you've got dozens of countries that sell cocoa. sugar can be completely substituted for. coffee is only of value to the extent that people drink it. ultimately the same goes for a bagel with cream cheese. interest rates "at or near zero forever" causing prices to fall may sound counter-intuitive....but using history as a guide (Japan) in fact shows its quite normal. what's different this time are the enormous INFLATIONS that have resulted as well. equities, property, debt...all of these things have soared in value (and no, the 1% doesn't own all the property folks.) obviously "we're rolling over now"...right at the same time "we're tapering." that's it for the Chairman...see ya. i highly doubt the next Chairman will be pursuing and exit strategy of any kind...but that's just me. in short "these are the highs on rates...start buying."

Fri, 06/28/2013 - 17:53 | 3704824 MeelionDollerBogus
MeelionDollerBogus's picture

prices to fall? IN Japan? Now I know one place for sure you've never been.

Fri, 06/28/2013 - 15:30 | 3704218 Marco
Marco's picture

Spot prices would go down as stocks are lowered and production/consumption gets displaced in time to make efficient use of the cheap supply Hershey promises in the future. Unless they can manipulate overall sentiment to amplify their shorting, Hershey would lose all their gains plus commission when those contracts come due ... or worse, get caught in a short squeeze.

Still, the price they pay for cocoa would go down ... for a while.

PS. gold is not being run down with futures though, the supply (or "supply" depending on whether you believe in a conspiracy) comes from the accounts at bullion banks.

Fri, 06/28/2013 - 13:42 | 3703852 knukles
knukles's picture

So as Rick was talking, front and center on screen, did any of you notice off to the side, a bunch of the guys were dropping trow and mooning him?


Neither did I.

Fri, 06/28/2013 - 13:43 | 3703855 samsara
samsara's picture

It felt to me like he guarded every statement.  He read/signed probably a list of topics and points that he isn't allowed to say.   

Just seemed like he was trying to stay in the guidelines of what CNBC allows. 

Fri, 06/28/2013 - 13:54 | 3703894 Flakmeister
Flakmeister's picture

Yep.. that was my take...

It was also clear that he felt that he was a bit out of element, very understandable...

He is a successuful small business man but when I hear talk about "regulatory burden" being a problem, I cringe. Most small business in the US is in the local service sector, i.e. your service relies on somebody else have the disposable income to make us of that service. Somebody has to create real weath....  In fact, Harrison and the pawn shop is a perfect example of a local service business that does not create wealth...

Fri, 06/28/2013 - 18:07 | 3704855 Iam_Silverman
Iam_Silverman's picture

"Most small business in the US is in the local service sector, i.e. your service relies on somebody else have the disposable income to make us of that service. "

Oh, OK.  I get what you're saying - isn't it YOU DIDN'T BUILD THAT!?   Now where have I heard that line before?


"In fact, Harrison and the pawn shop is a perfect example of a local service business that does not create wealth..."

Uhmm, I bet it does - for him.  It's like when I cut grass for my neighbors while growing up.  They gave me money to do something they were too lazy to do.  Same goes for anyone who buys stuff from people (that no longer need the item) just to resell it later, at a profit.  Oh, and the guy has employees.  Those employees get a wage.  That creates wealth for them.

"Somebody has to create real weath.."

And here you reveal your love of Central Bankers.  You know, they create wealth, don't they?  At least they create money anyway (and in some circles the amount of money you have is considered "wealth).

Fri, 06/28/2013 - 19:24 | 3704999 Flakmeister
Flakmeister's picture

Lots of smoke and fury and little content...

If you build a tractor, you create wealth. Extract a resource and you can create wealth. Wealth is created by adding value. It can also be done intellectually by improving productivity or improving efficiency.

Cutting each other hair, repairing each other's HVAC system or buying each others used goods does not create wealth on a Macro level...  It is essentially a zero sum game. That being said, someone can be successful, i.e. make money by providing superior service or by exploting a competitive advantage. Rick has done this. Good for him.

Let me guess, you claim to have read von Mises, despise Keynes and other leftist statists and your Atlas Shrugged is well thumbed. Yet, you do not have even a basic understanding of what makes an economy tick...

Why am I not surprised....

Fri, 06/28/2013 - 21:01 | 3705246 Iam_Silverman
Iam_Silverman's picture

"Why am I not surprised..."

Easy.  because you spend so much time trying refute beliefs that do not co-exist with your own.  Von Mises?  Nope, never read him.  Atlas Shrugged?  Yup, read it once.  It would make an excellent "chick flick".

My observations are based on having been a member of the workforce for over forty five years now.  I know enough about what makes my (micro) economy tick to call bullshit on those "well read experts".

Sure - you can take the macro view, and spout definitions from investopedia, but those of us here on Main Street know what the accepted definition of wealth is - and we go about our own tried-and-true ways to accumulate it.

Sat, 06/29/2013 - 00:57 | 3705583 Flakmeister
Flakmeister's picture

There is your problem, they just did a remake of AS and it was no chick flick, pretty creepy from what I heard....

 I never read Mises or Keynes, why would I. All you need is a good history of economics combined with some basic empirical observations. The understanding of what has gone on becomes clearer once you fold in the evolution of energy, wind, peat, coal, oil, nukes....

Remember that economics is the continuation of ideology by other means until you fold in thermodynamics. Then shits gets real...

No one is disputing what the micro-economy is and what makes it tick. But you also know that you don;t use quantum mechanics to plot the course of the Titanic...

On BTW, the reason for the Mises snark was the partisan bullshit "built that" routine and I prefer a bullshit free zone. If people want to play quotes out of context and turn them in slogans, nobody wins...

Fri, 06/28/2013 - 19:53 | 3705074 MisterMousePotato
MisterMousePotato's picture

There are but three things that generate wealth ... mining, manufacturing, and farming.

Anything and everything else - even if it does create 'wealth' for a particular individual - is fundamentally a parasitic activity on the wealth produced by the foregoing three.

Fri, 06/28/2013 - 21:11 | 3705260 Iam_Silverman
Iam_Silverman's picture

"There are but three things that generate wealth ... mining, manufacturing, and farming."

That's an interesting point - but the repairman who keeps the mining and manufacturing equipment running is but a parasite?  The short order cook who transforms the raw farm goods into meals for the masses of workers is also a parasite?  The truck driver who transports finished goods or raw materials from the farm or mine probably wouldn't consider himself to be a parasite either.

An economy revolves around symbiosis.  Yes, that bacteria in your intestines may not be creating the energy for you to perform your tasks, but it does break down certain enzymes to allow your body to digest them.  The same way a hospital keeps the workforce healthy (ideally) so that the miners, factory workers and farmers can produce their wares is a support system for the overall functioning of the economy.

I do believe that there are net losses in the economic organism.  Taxes to support overreaching governments, some (OK, most) banking functions and pay phone sanitizers (re Douglas Adams).

Fri, 06/28/2013 - 21:42 | 3705342 bread n circuses
bread n circuses's picture


Explain how that doesn't fit.  Or do you lump that in with manufacturing?


Fri, 06/28/2013 - 22:24 | 3705416 Iam_Silverman
Iam_Silverman's picture


Or repair (equipment, buildings, etc.), and transportation.

When you try to use a "classical definition" from a textbook to neatly define a living and changing creature like an economy (yes, they live and evolve) you lose track of reality.  That's why the brightest amongst us who memorize those textbooks do little more than teach.........

Mon, 07/01/2013 - 04:43 | 3705559 MisterMousePotato
MisterMousePotato's picture

Exhibit A? Chinese ghost cities.

On the other hand, construction of, e.g., facilities to store the grain harvested or to process tomatoes into ketchup? Well, obviously, "farming," especially on a commercial scale, requires some ancillary activities such as getting water to the fields. (Dams and pipelines, for instance.) Construction is also needed for the other activities, too, unless someone can figure out how to manufacturer hard drives outside in the backyard.

I'll even concede that a healthy workforce (as opposed to, e.g., a malarial ridden one) is (or was) needed to support those primary industries, and so at least some argument could be made for medicine, etc., but ... it is, doncha think?, just a bit of a stretch to say that nose jobs and breast implants are going to make one more productive at pulling carrots out of the ground.

Etc. for some of the other points raised above, and below.

Nevertheless, none such supportive and ancillary activities actually creates wealth. In fact, I would say that no such secondary activities would even be possible in the absence of the three primary activities. Construction, for instance, would not and should not (see exhibit A, supra) occur in the absence of a primary activity such as farming, manufacturing, and/or mining.

Fri, 06/28/2013 - 14:06 | 3703944 XitSam
XitSam's picture

For an appearace like this, do the guests get paid? 

Fri, 06/28/2013 - 14:27 | 3704004 samsara
samsara's picture

Yes,  Highly.   5:57 minutes of Nationwide Advertising of him and his business for free.

How much to buy a 6 minute advertisment?

How many vistors to LV will hit his shop just because they saw him on CNBC (that didn't know about the pawnstars show) ?

Fri, 06/28/2013 - 16:15 | 3704517 XitSam
XitSam's picture

I meant paid with Federal Reserve Notes.  I doubt appearing on a financial channel is going to get him any extra banker business.

Fri, 06/28/2013 - 17:20 | 3704739 mkhs
mkhs's picture

So what, there are like three or four viewers?

Fri, 06/28/2013 - 13:45 | 3703861 CPL
CPL's picture

Pawn shops are banks, the paper trade is getting so bad he can't broker a deal properly.  It'll be the pawn brokers that break the large bank's back and force the disconnect between a banking system that is used and one that is ignored.

Like every other time in history.  That's all most of the banks are originally from...they weren't 'banks', they were pawn brokers, holding equity against a loan.  Silver, gold, grain, cattle, cars, guns, etc.  So people can stick up their nose all they want at it.  Lots of people leverage these guys to act as their banks because real banks don't offer services to a lot of people.  

Having a chequing account isn't a god given right, and for some it's very difficult to obtain.  Pawn brokers though are not so strict as they require something to be left against the loan at a cut rate against the market value of the good.

It's how banking is supposed to work.  It shouldn't be easy to borrow more than you could ever pay back.


Poor guy oherwise, he and his other pawn brokers buds should think about circling the wagons.  If they've got shiny metal, they've got clout.  Now all they need to do is get organised and have a goal.

Fri, 06/28/2013 - 13:50 | 3703882 the grateful un...
the grateful unemployed's picture

had to get to the end for the good stuff, sell now, book losses and buy back later. and gold stocks could go lower.

Fri, 06/28/2013 - 13:52 | 3703888 Smiley
Smiley's picture

I wonder if their show will cancelled for that?

Fri, 06/28/2013 - 13:54 | 3703898 Dr. Engali
Dr. Engali's picture

It's that whole tree falling in the woods thing. Nobody watches CNBS so nobody will know what he said.

Fri, 06/28/2013 - 14:02 | 3703927 knukles
knukles's picture

That's a good point.

Hell, we here on the Hedge just might be the last people watching CNBS for a source of ridicule.

Now that's embarrassing.
Like the one drunk throwing up on the other one passed out in the gutter and thinking the other guys is in such bad shape.

Fri, 06/28/2013 - 14:00 | 3703906 knukles
knukles's picture

Jesse Ventura's was when he had one on FEEEEMBLA Camps... real one on screen, interviews.
UFO Hunters too, after the did that one on Dulce Base...

It gets curiouser and curiouser.
Especially when a lot of the MSM gives me the feel I'm being mooned when I watch/listen


BTW another Conspiracy Theory becomes plain fucking fact...

Fri, 06/28/2013 - 18:55 | 3704918 Smiley
Smiley's picture

I didn't know the UFO hunters did a show on the Dulce Base:  I thought people knew that is the one UFO/ALIEN story you DO NOT go asking about.  They are lucky they didn't get a "visit" from an "unlpleasant gentleman."


I think it was poking around the HARP array that got Jesse canned.

Fri, 06/28/2013 - 13:55 | 3703901 put_peter
put_peter's picture

He is right. However even a pawn manager can be taxed to death should gold have some value.

Fri, 06/28/2013 - 13:56 | 3703904 They trynna cat...
They trynna catch me ridin dirty's picture

Pawn Stars season 1 was a great show.

After the second season it became not even worth watching.

Fri, 06/28/2013 - 14:00 | 3703922 IridiumRebel
IridiumRebel's picture

Producer: "Never have that fucking guy on again.....that was a fuckin' mistake."

Fri, 06/28/2013 - 14:04 | 3703937 orangedrinkandchips
orangedrinkandchips's picture

I love Rick and the show...big fan

Fri, 06/28/2013 - 14:13 | 3703969 Jena
Jena's picture

I bet pawn shop owners have a far better grasp of the real overalll economy on a micro level than do the Fed governors.  And on another level, it'd be fascinating to watch the world come and go through the shop -- if maybe a littlle bit tough seeing people part every day with items that are dear to them. 

On the other hand, ultimately it's just stuff.  If you choose to sell it's handy that there's a buyer.

Fri, 06/28/2013 - 14:26 | 3704003 Forward History
Forward History's picture

I would give a testacle to be the guy that, just once, inherits one of these historical treasures, just so I can decide not to be the idiot that walks into Gold & Silver Pawn and sells the thing for 1/3 of its market value.

You hear me, folks? Drop an original 17th century black powder musket or a Tokugawa-era katana in my lap and watch how quick I don't liquidate it into Casino chips.

Fri, 06/28/2013 - 14:21 | 3703987 Skid
Skid's picture

Even Chumlee knows governments always screw currencies.

Fri, 06/28/2013 - 14:27 | 3704007 knukles
knukles's picture

Chumlee is Chuck Noris' dad

Fri, 06/28/2013 - 14:51 | 3704099 Winston of Oceania
Winston of Oceania's picture

I'm tellin Chuck you said that... Chuck Norris wasn't born, he made himself!

Fri, 06/28/2013 - 16:25 | 3704556 NidStyles
NidStyles's picture

Chuck Norris is the result of Bruce Lee eating too much of that white chocolate.

Fri, 06/28/2013 - 14:26 | 3704001 BadDog
BadDog's picture

At the end of the video, when asked what he was doing personally, he said that he was selling a little right now with plans to buy in back in a month or so at a lower price.  At least he has a plan. LOL.

Fri, 06/28/2013 - 14:27 | 3704006 RougeUnderwriter
RougeUnderwriter's picture

WWCD - What would Chumlee Do?

Fri, 06/28/2013 - 14:28 | 3704009 knukles
knukles's picture

FIUR - Fuck it up Royally

Fri, 06/28/2013 - 14:36 | 3704037 Whats_Happening
Whats_Happening's picture

Just noticing several of the online coin dealers are out of stock on lots of silver bullion save for 2013 Maples and Eagles.

And yes, Rick H appears to have been prepped for the interview but did get in a few blows about how the gov't can screw up a paper currency and PMs are a long term investment and for "insurance."

Freddy: did you watch Person of Interest last night?  lol

Fri, 06/28/2013 - 15:03 | 3704157 ebworthen
ebworthen's picture

Chumlee sold all his physical Gold last night at the bottom for coke and three hookers.

He'll buy at $1,900, then sell at $1,500 and do it all over again with a smile and a chuckle.

Then he'll tell his accountant to deduct the losses from his taxes, and take a nap.

Fri, 06/28/2013 - 14:32 | 3704019 dojufitz
dojufitz's picture

I worked in a pawn shop once......

An old man came in and wanted to pawn a hopeless plastic watch...

The cruel boss say - No way! .....i said to the old man 'lets see it' was hopeless.....

the old guy had tears in his eyes....i asked him,

what do you want the money for? - he said 'to buy a bottle of beer'.

i said 'look....i'll give you $10 out of my own pocket.....

if you want to come back and pay me the $10 when your pension comes in....that would be cool....

The old guy couldn't believe it......a number of days later he came back with the $10.......the boss was suprised......

i wasn't and called the boss a cunt......the boss didn't say anything.

Fri, 06/28/2013 - 14:59 | 3704138 ebworthen
ebworthen's picture

That new little tart on in the morning has to be a casting couch pick; not bad looking, nice lips, but a little challenged in the smarts department.

Selling physical to take capital losses to save on taxes?  Ahhh Rick!  The things we have to do to protect ourselves from tyrrany!  Rick must not have a boat.

Fri, 06/28/2013 - 17:15 | 3704725 CCanuck
CCanuck's picture

Only one lake too, and its probably full.

Fri, 06/28/2013 - 15:06 | 3704173 devo
devo's picture

Great show.

Rick minted Oldman silver ounces for his birthday--doesn't get any more punk rock than that.

Fri, 06/28/2013 - 15:12 | 3704197 ebworthen
ebworthen's picture

And he sold out of 20 of them at $64.99 each on June 4th.

Not bad at all.  Talk about monetizing your notoriety.

Fri, 06/28/2013 - 15:16 | 3704214 alfred b.
alfred b.'s picture


       U think...lolll....even Daffy Duck knows that 'Gov't can (and will) screw up its currency'.


Fri, 06/28/2013 - 17:36 | 3704787 MeelionDollerBogus
MeelionDollerBogus's picture

I remember that episode when they sold the excess silver.

His dad told him off right and proper. "How many times I told you, we do NOT sell silver. Buy it but we do not sell it"

(other than their 60/oz custom rounds which for obvious fiat reasons a pawn shop would be happy to do)

Fri, 06/28/2013 - 18:14 | 3704869 Iam_Silverman
Iam_Silverman's picture

OK, WTF happened today?  I called around yesterday to find some ASE's and the only place that had any was way up in Fort Worth.  They were going to "generously" let me purchase some for "only" $5 over spot.  And now, SPOT GOES VERTICAL!  WTF?  I can't get there until tomorrow, so what's happening?  Why does this happen while I'm backing the friggen truck up?


Note - they also have Philharmonics for "only" $4 over spot, and hardly any junk silver and generic rounds ($2-$3 over) are all sold out.  They have some Stagecoach stuff - not my cuppa tea.

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