Anti-gold mafia jumps the shark

The same day that perennial denier Gartman and even Goldman Sachs finally see the light regarding precious metals price suppression (though I have to ask, where were they e.g. February 24th or Sunday night, May 1), we get this video from CNN

Don't miss the superimposed text at 0:24 ... whaddya say about how easily he lifts it Louis - shades of Pisani? Also note the serial number: Warren, maybe you can check if it's in GLD.


Warren James said...

Hahahaha 'not real gold'. Damn straight. If they were being honest they would keep that text in the background for the entire session instead of showing it for one second. The fact they do not, means it's a straight con job. i.e. waving around a gold-plated-something like that gives a very biased view, and (like I just learnt on The Gruen Transfer last night, it's the visuals that people absorb, not so much the words.

Do people really watch this kind of stuff and not think that something is up? I mean, if you put the text to script, it reads like a brainwashing script: ".. repeat after me: gold is evil, evil". He even messes up the paper money part - twenty dollars even in a few HUNDRED years will still be worth twenty dollars. That doesn't change. I don't suppose these talking heads are allowed to even use the words 'purchasing power'?

This is pure, unabashed brainwashing. No serial numbers there on his gold-painted piece of foam material. And the smaller bars at 0:43 don't have any serials either.

Warren James said...

Some of those bars/pictures shown DO have serial numbers, but mostly 1 kilo bars, and the ETF's only hold 400oz bars.

I'll also revise my statement - I don't think it's foam, it sounds like wood when it clunks with the desk.

Warren James said...

When the news items are this unbalanced (i.e. specifically biased towards gold) it's worth considering motive. The message is clearly 'don't touch gold, but if you must then no more than 5% of your portfolio' ... basically the same effect as quelching demand.

The problem is that just like advertising, it will always be absorbed at some level by whoever watches it, so it's like spreading insecticide on a regular basis to keep levels where you want them. Too many bids for existing gold stock? Simple - just apply x hours of prime-time TV for best results, repeat until symptoms disappear.

While those of us who study this stuff are somewhat immune, the advertisers win - they only have to reach specific saturation levels.

Louis Cypher said...

What a tool! What a fool!
Thanks GM. What a great way to start the day looking at CNN's version of "Four legs good, two legs bad. Paper good, gold bad".
When it's $12000 an oz the same tool will be wheeled out and tell everyone "Two legs good, four legs bad"."Gold good, Paper bad".
That's when you buy your classic Porsche 996/ Ferrari, antiques and farmland.
It's a sad day in hell when we are paying for this rubbish advice. It's a sad day in hell when this turd gobbler is what passes for a journalist.
I think I threw up in my mouth.

GM Jenkins said...

LOL, the music, check out the music! How many clowns can fit in a GLD vault?

GM Jenkins said...

If you notice, he says "[gold] is actually one of three precious metals, the others being silver and platinum"

Time to invest in palladium? :P

Louis Cypher said...

I caught that. That scumbag Nadler the naysayer has been trying to push people into Platinum and Palladium since Gold 15 or 1600. (It was either Warren or Jeanne who mentioned that because I don't read anything he writes). My guess as to why was they were worried about all the money they would have to pay out if people decided to cash in after a big run. There was also the issue in Canada where they are being accused of scamming the revenue service there when it came to recycling gold. Maybe they need money.

I like Palladium for lots of fundamental reasons. The fundamentals are good assuming we don't have a global meltdown. Just waiting on a pullback to jump back in.

GM Jenkins said...

LOL just watched this again. "Everbody likes gold ... THIEVES!!! ... be careful how you treat it [cue circus music]"