Nothing's really on at 3am so my preferences have always been Bloomberg News and GemsTV. I don't understand either one and it's hard to say who has the quirkier lineup of on-air talent but now GemsTV is shutting down and the way they're going dark is remarkable. It's a long, drawn-out clearance, with loads of air-time being devoted to viewer email and to the personal lives of hosts. It's fascinating. I don't think I can turn away.
ADDED: In court filings, GemsTV has cited the soaring price of gold as a factor in their bankruptcy. Which makes this interesting: "To hear some investors tell it, 'manipulation in the gold market' is a scandal on the scale of Bernard Madoff’s Ponzi scheme, perhaps even greater....The hedge fund [manager] famous for making billions by betting against sub-prime mortgages, John Paulson, has reportedly put $250 million of his own money into a fund dedicated to investing in gold. Another prominent hedge fund manager, George Soros, reportedly recently increased his fund’s holdings of an exchange-traded fund that owns gold, to $663 million worth, while, somewhat confusingly, Mr. Soros was also saying publicly that 'the ultimate asset bubble is gold.'"
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