Anti-Gold Propaganda In The West At An All-Time High

I’ve been involved in every aspect of the precious metals market since late 2001 and I’ve never heard of Rick Spooner or CMC markets…Rick Spooner?  Why not just drag out Pee Wee Herman and have him read off a teleprompter?

CNBC, Ansuya Arjani and anti-gold terrorism

With gold under the most intense market manipulation effort in history from the western Central Banks, leave it to none other than CNBC to amplify the media’s anti-gold propaganda effort.   Little bit of history.  CNBC has been anti-gold since the nascence of gold’s bull market.  GATA’s Bill “Midas” Murphy was interviewed on CNBC in February 1999, right around the time the Bank of England was starting to drop 400 tonnes – half of England’s gold – onto the market.   Bill told the truth about the gold manipulation and was banned from appearing on CNBC ever since.

This morning I wake up and see this headline from CNBC post on  “Stay Clear, Gold Sell-Off Could Get Uglier” (LINK).   CNBC dragged out none other than Rick Spooner of CMC Markets?  Who?  I’ve been involved in every aspect of the precious metals market since late 2001 and I’ve never heard of Rick Spooner or CMC markets.  I looked up CMC Markets and I find that it’s a retail online forex bucket shop business (Goldman owns 10%) based in London.    Rick Spooner?  Why not just drag out Pee Wee Herman and have him read off a teleprompter?

The anti-gold propaganda is starting to boil over because everyone knows that the fiat currency Ponzi scheme global financial system is collapsing.   It becomes more obvious to more people everyday.  For CNBC to drag out someone like this reflects a new level of desperation by the western financial elitists in their effort to disarm gold’s alarm signal.

On the other hand, China, India and Russia have all collectively stepped up their efforts at accumulating all the physical gold being used to by the western bullion banks to hold down the price of gold.  According to the Shanghai Gold Exchange website, delivery volume of gold last week totaled a monster 261.234 tonnes.   This means withdrawals will likely amplify as well.

 Instead of seeing Friday’s obvious attack on gold – and today’s anti-gold propaganda attack – as a sign of a market that’s in trouble, perhaps these blatant attacks on gold should be seen as the west’s last gasp of breath in its effort to keep a dying system from collapsing.

16 thoughts on “Anti-Gold Propaganda In The West At An All-Time High

  1. Some interesting stuff going on in metals. Gold and silver got clobbered last week but silver held its own. The cobasis on gold and silver shot up. Big rise in open interest on Monday. I think this is speculators going from long to short AGAIN. This has been going on for 18 months.

    The big difference is that the REAL price of gold is holding steady and rising against oil and commodities. Note the 4 times normal volume in NUGT on Friday. Bizarre!

    I mean if we are not close to a bottom in Miners give or take 10% and a few months then I will dance naked on main street–it won’t be pretty.

    1. it’s speculators going short and the bullion bank cartel going long. ask yourself, why did JP Morgan take delivery of 6mm ounces of silver into its proprietary “house” account last week?

  2. Dave,

    What do you think about Andy Hoffmans view regardig mining stocks.

    He seems to be allergic to these stocks and prefer bullion.

    Could it be because he and Bill Holter are bullion dealers?

    In my view the cost of mining should decrease when the price of oil goes down since I understand that the price of oil is a main factor in the drilling process.

    1. I was the one back in 2008 who had to argue with Andy in order to convince him that CEF was not real gold. He was never a physical gold/silver buyer until I won that argument. He’s been anti-mining stock since 2010. The view has been right since mid-2011 – but for the wrong reasons. When the cartel loses control of its gold manipulation efforts, the mining stocks will explode higher.

      1. I think you are right about that one has to be patient.

        What is your opinion regarding McEwan Mining (I heard the CEO of First Majestic reccomending it in an interview?)

        They are going in to production 2015

        By the way AMZN seems to lose it`s “strenght” and move the way you predicted.

    2. Could it be because he and Bill Holter are bullion dealers?

      What do you think his boss would tell him if he goes public saying “buy miners”?

  3. I’m not worried at all about that bashing. It’s annoying though. I just wonder what people think about all this gold melting going on in Switzerland. Of course it’s not about a different quality or the seize or weight or other physical properties of the gold bars. The Chinese want to destroy the bar numbers and make it untracable. That’s why the Germans don’t get their original gold bars back. Their gold is already in China but with a Chinese stamp on it.

    All the gold accounting like any other financial accouting – think esp of WallSt banks – is a scam. Technically they say it’s a lease when in actuality it’s a sell. So they are accounting all the gold bars a hundred times although they don’t even have it any more in their vaults! This is so ridiculous! LOL! When this crapper breaks down it will be a show for generations. Can’t wait!

    1. Its the silver market that the manipulators are most terrified of.
      Since, compared to the gold market it’s tiny.
      With absolutely NO reserves being held by the central banks.
      Case in point; When Eric Sprott made his second purchase of silver bullion for his closed end PSLV fund, it took almost six months for the delivery to complete. In an interview shortly after, he said the bullion bars were mostly of newly mined silver and bore recent producer refinery marks. The physical silver market is operating from “hand to mouth”! That is, ALL newly mined and refined silver is spoken for.

  4. Let’s think about this. Just in the last week we had 4 events.

    1. Apple announces the iWatch and says that they will be requiring 1/3 of the amount of Gold mined annually to keep up with demand.
    2. 2. China supplies a billboard outside of Bangkok airport. One of the busiest airports in the World showing the RNB as the next World’s Reserve currency. And the “O” in World shows a Gold Coin.
    3. HSBC the custodian for the largest Gold ETF ( GLD ) on the planet announces that they are closing all 7 of their Gold Vaults.
    4. We find out that last week over 260 tons of Gold was removed from the Shanghai Gold exchange. That run rate equates to over 13,000 tons per year in a 2,800 ton market.

    Now I’m not a rocket scientist but does anything seem strange to you ? I suspect our friends in Washington and London are planning something terrible in the near future.

  5. Isn’t Hoffman worried about the potential of nationalizations and general profitability in the face of manipulated markets when it comes to the miners? It seems a reasonable concern to me.

  6. Another piece of the puzzle to consider, courtesy of Reuters via zero hedge-

    Exclusive: China’s international payments system ready, could launch by end-2015 – sources

    (Think competition for SWIFT)

    With Russia starting its own SWIFT and China rolling out its own version before the end of the year, the need to use SWIFT (and the need to use the US Dollar) will decline.

    With more options in making payments and transactions in local currencies, king dollar may find itself kicked off its throne.

    As the dollar loses its position, reserve currency status and influence, don’t be surprised to see other currencies become more widely used, and the ability of the US to manipulate the precious metals to decrease at the same time.

    Its going to be an interesting year or two going forward.

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