Anti-Gold Propaganda Reaches Bubble Proportions

The anti-gold propaganda spewing forth from all corners of the media is greater and more intense than I’ve ever seen any investment propaganda.  Every time I turn on Bloomberg, FoxBiz or CNBC there’s a discussion of how useless gold is.  It’s beyond surreal – it’s criminal.  – Investment Research Dynamics

There’s a new bubble in town.  It’s anti-gold propaganda.  I prefer to reference it as “anti-gold terrorism.”  It’s to the point at which it’s become silly – outright preposterous.  This Orwellian-derived antagonism toward gold reached its apex – at least I so thought – with the “gold is a pet rock” article in the Wall Street Journal:  Let’s Be Honest About Gold:  It’s A Pet Rock.

The article and analysis – or poor excuse for “analysis” contained therein reads like the work of a drunk five-year old.  Shame on Jason  Zweig for attaching his name to it. He can no longer be taken seriously in any regard as a journalist.  Shame on the Wall Street Journal for publishing that fermented piece of scatology.  If Jackson Pollack had produced a painting using fecal matter which lampooned the anti-gold terrorism coming from the media, that’s what it would have looked like.

Perhaps today the absurdity has reached the apex of its crescendo with this utterly ridiculous “letter to gold bug” published by Marketwatch:   It’s time to surrender and let the yellow metal fall to its bear market low

Seriously?  Here’s an open question to Howard Gold:   How can any market be said to be in a “bear” market when the forces driving it lower are Central Banks and Governments who wake up in fear every day over the possibility that gold might exploded higher and reveal the truth about the size of the lie our entire system has become.  Including YOU, Howie.

There are no markets anymore, only interventions (Chris Powell, Treasurer of GATA). Definitionally, the trading of gold can not be termed “a market” because it is not allowed to trade in a legitimate bid/ask exchange.  The “ask” side is nothing but fraudulent paper.  Therefore, it is completely invalid to reference gold as being in “a bear market.”  How about that, Howie, your “letter” is completely invalid – by definition.

What is it that the elitists fear so much that they have resorted to flooding the airwaves and internet with thoroughly foolish propaganda and lies?   I think anyone reading this knows the answer to that rhetorical question.

It’s far worse to be disappointed than pissed off.  I’m no longer pissed off about the unfettered criminality that has engulfed our system.  I’m disappointed by it.  These people have rendered useless and meaningless the efforts of anyone who attempts to conduct their affairs legally and morally.  If the elitists running the system are above the law, why should the masses abide?

The gloves are off.  I would urge everyone who reads this to “tweet” it at Howie:  @howardrgold.   He’s too much of a coward to list an email address on Marketwatch.com.

Of course, all of these so-called “experts” on the gold market in reality know nothing about it.  In fact, the propaganda will likely be for naught.  India a couple weeks away from it’s strongest seasonal period for importing gold.  The country has already imported significantly more gold YTD than 2014, contrary to the fraudulent media reports from Reuters and the UBS research department.

And then there’s China.  China is currently importing gold at a run-rate that exceeds the annual amount of gold produced by mines globally.  It too is getting geared up for another strong seasonal buying period.  It’s interesting that an “object” into which China is converting billions of dollars into has been summarily dismissed as “a pet rock” by Jason Zweig, Rupert Murdoch and the puppets who publish the Wall St. Journal…

26 thoughts on “Anti-Gold Propaganda Reaches Bubble Proportions

  1. Yes that´s correct.
    Listen to the lying scum in the mainstream media and sell all your gold.
    You should convert your funds into bull certificates with x 10 leverage in AMZN !!
    The sky is the limit!

  2. I like that this bog points out the destructiveness of Central Bank intervention and the damage it causes. I don’t always agree on the details. Yes, there is manipulation of the gold price but BOTH UP and down. Where where the price suppressors when gold rose from 250 to 1920?

    Use this “manipulation” to acquire bullion from your local store (if they have it in stock) or buy well-financed miners with low cost reserves in the ground and wait. Market EVENTUALLY revert. or how about AAU or EMXX or SLW or ….

    I think the gold slams are about collateral stress. Why do you have gold in backwardation? Things are bad. See. http://www.monetary-metals.com recent post.

    The negative news is great–always seen near or around a low give or take some percentage error rate.

    1. The idea of a Cashless Society,in which tangibles are taboo, is a new one.Many banks are insolvent and sudden cash withdrawal by many of a single huge one,may adversely affect banks.Besides NIRP will be ineffective,when cash is around.NIRP and ZIRP may favour the Bond market,the favourite of the bankers,and may not favour Gold.
      Now the attack is on tangibles,Cash,Gold,Silver,land to mention a few.This was not the case when Gold and Silver rose to their peak.

    2. “Where where the price suppressors when gold rose from 250 to 1920?”

      I believe gold was allowed to rise to 1920 the magnify the loss and discouraging effect of the subsequent take down. I further believe that these same powers paint the charts with contrived patterns to mislead and to blind technical annalists on which investors rely so heavily

      1. A coupe of bizarre events occurred in 2011 which took my breath away.

        The first was the CFTC hiking margin requirements on silver futures (in 2011) not once or twice but 5 TIMES. I dare ya to find a commodity anywhere wherein that has happened with such frequency and in such a short time span. That move literally destroyed the silver market. The CFTC destroyed momentum.

        The second bizarre event occurred when Venezuela and then Germany, demanded their stored gold deposits back. The price of gold immediately dropped over 500 dollars per oz beginning in- oddly- 2011. Initially, that was a real head scratcher for me. Then it dawned on me. If existing gold had already been sold, pledged as collateral, or already hypothecated then that meant that the bullion banks would have to drive the price down so that they could buy physical gold much cheaper and return it.

        That I believe is what happened. Since then, the PPT and the bullion banks on behalf of the FED have been driving down gold just like they did Sunday night in the thinly traded odd hours- effectively trying to drive gold through the giant multi year support level of 1080.

        It is complete, manipulated nastiness. There will be a day when these *uckers can no longer contain this- that will be the day when the rise of gold will be so meteoric and snap the other way like an elastic band- that people will be selling their teeth.

  3. Gold Looks Like a ‘Textbook’ Short Reading two linked charts on gold

    Stay with me.

    Welles Wilder and George Kleinman matter. Both of them are among the must-read masters of technical analysis.

    Welles Wilder was a giant of trend-based analysis: waiting to see the trend, getting on the trend, staying on the trend, and getting out of the trade without a lot of damage. My experience is that staying on the trend is the hardest part of the ballet with one gigantic exception: A cardinal rule is that you have to look at many, many, and many more trades to find a proper setup in which Wilder’s work and Kleinman’s moving averages mesh. Some are good, some are better than good, and some are textbook.

    Gold, now, is a textbook trade.

    http://www.bloomberg.com/news/articles/2015-07-23/gold-looks-like-a-textbook-short
    INSANE
    so easy a baby can do it….and you’ll probably be eating baby food for the rest of your life…..island reversal anyone?

  4. ‘China” is just Shanghai with your info. We know Bejing exists and some dribbles going thru Hong Kong.

    Having said that and knowing that India is north of 1,000 tons annually, and Russia is stealthly buying “only” 20 tons a month, Which ever Greeks had cash bought some gold recently as did Europeans.

    So where is it coming from besides GLD and we think either the US Gold or Fed gold held for others like Germany which may or may not be legit anymore.

    what a mess.

  5. Such a concerted campaign is clearly pre-designed. For me, it is a last effort to get private owners to cough their precious metals. This is critical to the slave-masters, because they want to reduce self-reliance as far as possible, before they crash the global economy after which, they want everyone dependent (enslaved) to the state.

    It also gives the bullion banks the chance to unload their shorts and get quietly long, before they skyrocket gold and silver to become even richer and send price out of reach of the average citizen.

  6. ROCK ON DAVE! Thanks for taking on all the establishment liars and their trolls. Just saw A.P. is blowing the whistle on Social Security Disability for 2016. Out of $$$ I think that’s at least a year ahead of what Zero Hedge forecast last fall . This was one of Social Securities best funded programs until O’Bummer turned it into the next step for lots of unemployment recipients that were running out of bennies. Current recipients number over 11 million. Of course CONgress will now be charged with coming up with more $$ by slight of hand or other ways most likely money for nothing. AKA Control P

    Meanwhile as you continue to point out sector after sector of the economy rolls over in the real world. Patch after patch CONtinue to be applied to the only metric left to dazzle the sheep….the stock market. The collateral financial warfare relentlessly applied to those that see the carnage and seek safety a true perversion…..May they ROT IN HELL. Keep the fires burning Mr. Kranzler

  7. Gold can be redeemed for chips at casinos. This is true in the U.S. and abroad, and it’s been true for a lot longer than WSJ’s 90-year history of employing journalists who write “news” stories in exchange for checks from stock pumpers and other invisible third parties.

    The Journal’s inability to distinguish real money from pet rocks is quite telling for many reasons, none of which will ever be written about by WSJ secretaries taking dictation.

  8. Here we go again 2:00 pm and the Access market daily smack down reappears yet again. Pay not attention to the algo behind the curtain…..

  9. if you think he knows nothing about the gold market just look at his last name. his family has an inate enough appreciation for it to use it as their last name. im sure he’s buying while trashing it with his words.

  10. Gold is in a paper-price bear and a physical bull market IMO. The divergence between paper and phyzz set the scene up for some serious fireworks. The bulls that are still in, I strongly doubt they throw in the towel. They say more pain for bulls, I say discount for fizz (sure bet) and the miners (a binary gamble – bankruptcy or eventual moonshot). Great work Dave, keep it up.

  11. It may surprise you,but this seems to have connection with India’s Gold Monetization Scheme,approved by the Union Cabinet,yesterday or it is one the verge of doing so.After this announcement,the attack on Gold is very sharp in a few Indian websites,eulogizing Equities.The idea seems to scare Indians into selling their Gold,in the said scheme,as a small fall seems imminent.

    1. I don’t pollute my brain cells with Armstrong’s sewage anymore. Listen to the Shadow of Truth podcast tonight

    2. I don’t pollute my brain cells with Armstrong’s sewage anymore. Listen to the Shadow of Truth podcast tonight

      1. “I don’t pollute my brain cells with Armstrong’s sewage anymore. ”

        Good for you, Dave! I myself don’t listen to Armstrong (Martin OR Lance) they are both liars of the worst sort. If am going to listen to someone, I might as well listen to someone with integrity, honesty and who doesn’t have a criminal record.

        I read Howard Gold’s mindless scribbling (it is unworthy of the title ‘article’) and I read the posts on Marketwatch, most of the posters there treated him the same way a master chef treats a salmon, perfectly filleted, baked and served with a tasty lemon sauce. (Stick a fork in him, he’s done!)

  12. I know. It pisses me off to no end that people actually give an ear to these ignorant press whores, who know absolutely nothing about gold and silver and the history of money, and have nothing invested in gold. But everyone of them gave their wives a ring made from GOLD, not PAPER. All you gold-haters, try proposing to, and giving your prospective wife an engagement ring made from a carefully and artfully folded $1000 bill. Go ahead, try it… I dare you! See how far you get with an engagement. “But Dear, it’s a THOUSAND dollar bill with paper $100 bill diamonds. It’s a token of my love for you”. Ha! She will piss in your soup. There is a reason why gold has intrinsic value.

    It is not surprising to me in the least, that the outcry against gold has become so intense. It is simply that, just like the Devil, they both know their time is running very short. It’s just as my good old buddy George Carlin says …”when you think of the average stupid person, realize that half of them are even stupider than the average intelligence”. Why is it that ALL of the stupidest half of average intelligence people hate gold?

    Simple really. It’s because they have all bought into the lies of Wall Street, Central Bankers, and Government and have become drunk and giddy on their Kool-Aid that has been laced with LSD. You will hear them all say things like…. “This Time It’s Different”, “Sell All Your Gold and Convert Your Funds Into Bull Certificates With 10 times Leverage in AMZN. The Sky Is The Limit!”, “Our Debt is Over 100% of What We Produce (GDP), Yippee, We’re Winning The Currency Wars!!!”, “Gold Is A Barbarous Relic”, “Gold Is A Terrible Investment! I Have Lost So Much Money In Gold”, The Stock Market Will Go Up Forever”.

    Frankly, I’m glad that the majority of people are stupid when it comes to gold. As a result, the price (in counterfeit toilet paper dollars) of REAL MONEY and mining stocks are “ON SALE” for the next year or maybe even two, so I can stock up, on the cheap. There will come a day, however, when ALL of the stupid people, ALL AT ONCE, suddenly discover that they have been lied to, and realize that paper money is worthless and their Kool-Aid was poisoned, their registered pension funds have been “Nationalized” (stolen), they can only get $60 a day out of the ATM, and ALL AT ONCE, the ALL suddenly realize that they ALL need to get some gold, at THE SAME TIME EVERYBODY ELSE DOES.

    The shrill cries from the truly stupid half of the average people will be for the government to “DO SOMETHING” but will fail to realize that this is the sole reason they are in this mess because for years the government listened to the stupid “Money For Nothing” couch-potato crowd who buy Lottery Tickets and a six-pack every day, and they DID Something alright.

    They did many Somethings spanning decades, and spent excessive amounts of money on giveaways and social programs, to buy votes and get elected and Do Something for the people, who were too lazy to do these things for themselves, until the government simply ran out of money and ran up so much debt that now nobody will buy the government bonds (debt) because it is TOO RISKY and the Interest Rate is TOO LOW, and now the stupid people will suddenly remember that this once happened to Greece.

    They are right about one thing. this time it really IS different because there will be NO RECOVERY because the government blew the whole wad bailing out Wall Street and the Big Banks and all of their Cronies, and fucked the average Joe. they have no more ammo to bail out even themselves the next time.

    “OMG, we gotta get some gold. Those stupid gold-bugs were right and the Kool-Aid the government gave us… I think it’s poisoned”

    “What do you mean you won’t take paper dollars for gold? The US dollar is as “Good As Gold””

    “Sorry, it used to be but not anymore!! Only Gold is as good as Gold. However, We will accept Silver to buy gold with. Do you have any Silver? The price is 20 ounces of silver for an ounce of gold”

    “No. We were too stupid to realize that paper money was getting more worthless by the day. All we have is paper money and lots of debt but we need some gold because prices are going up every day and I have to protect my retirement fund.”

    “Tell you what. I feel sorry for you, so I will give you a gram of gold for $1000 and that will feed you for a week but next time you come back, you will need to have Silver, or something valuable to trade”

    “OMG, we don’t have $1000, even in paper fakes because we were really stupid and spent everything we earned on Lottery Tickets and 3 Magic Beans and trinkets and toys and lavish vacations and a new car every two years and 401 K’s and IRA’s and Stocks and Bonds and bla, bla, bla. Can’t you give us a break?”

    “Didn’t you even save a minimum of 10% of everything you earned, at least?”

    “No, we were too busy living it up and making a living to make any money, and there was never enough left over to save. You know what it’s like for the working man. Always a struggle.”

    “Uh, ya, it’s tuff sometimes but you have to make sacrifices and save at least 10% of everything that comes in and you will automatically get rich. That’s just Rule #1. I actually saved half of my income and bought gold and silver with half of what I saved, and then invested the rest in assets that created income for the past 20 years. Now I’m Rich. I’m proud of my classic 1965 Chevelle that I got for $1500. fixed it up and now it’s a Classic and worth $35,000.”

    “How much did you earn when you were stupid?”

    “About $5000 a month but our expenses were $6000, so nothing left for savings, you know. Cost of Living kept going up and up. Couldn’t keep up.”

    “Wow! What a horrible story. If you had only put away $50 to $100 a month and bought silver and gold with it, you would be rich now, even after five to ten years. How much do you have in counterfeit fakes?”

    “About $5000.” “You’re in trouble Dude. I could let you have a few rolls of pre-1965 silver dollars for that.”

    “Oooooh! I need at least an ounce of Gold to get thru the month Buddy.”

    “Hmm. Is that your brand new Suburban out there?” “Ya Man, It’s my Pride and Joy.”

    “Okay, I’ll give you two ounces of pure Gold for it.”

    “That’s crazy! I just paid $50,000 for it.”

    “Well, Gold is selling for $30,000 an ounce today but I only paid $800 an ounce when I bought it in 2008, so I’ll help you out cuz I feel sorry for you, and you’ll make $10,000 counterfeit dollars, if you sell the gold, which I totally don’t recommend”

    “Noooo-ooooh! I can’t give up my Suburban.”

    “Well then, You’re in Deep Shit, my friend! Good luck.”

    And so it will go for the millions of present-day Gold-Haters, as they watch the stock market, their pensions, the economy, the government, their “assets”, and their lives crash into hopelessness, as prices and interest rates skyrocket. Divorces and murders will be commonplace. Paper money will be needed by the wheel-barrow load, just to buy the necessities of life. Once the government fails, there will be NO currency to buy food and fuel with. The only viable currencies will be Barter and Gold and Silver. That’s it.

    Everything will evaporate. Anything denominated in paper dollars and paper assets like stocks, bonds, mutual funds, pensions, mortgages, credit card bills, will go Poof!!! Gone!!! Real Estate will be okay. Even if you owe money on it, you will probably be okay because the bank will likely go broke and the bankers will hang themselves. so you’re safe if you own real estate but prices will plunge for sure.

    There is only one thing you need to remember… Gold And Silver Reigns Supreme As Non-Inflatable Money. Sadly, by the time the masses of the stupid figure this out, it will be too late and it is unlikely that you will be able to trade any amount of counterfeit fakes for even a tiny amount of gold and silver. Govern yourselves accordingly.

  13. Ask the professed experts, ‘If gold is such a pet rock why the hell did President Roseveldt nationalize it and have the Fort Knox vault built to store the majority of it there?
    Are they even aware of the factual golden rule statement, ‘Those that have the gold makes the rules.’
    Be very weary of China ‘the sleeping dragon is awakening!’

  14. “Gold Conjunction of Price, Value and Sentiment and I’m Bullish” – Jim Grant

    “[G]old is an investment in monetary and financial disorder – not a hedge. You look around the world and you see exchange rates are properly disorderly, when you look around the world of lending and borrowing — we are in a regime of price control by another name, so-called zero percent rates and quantitative easing by the world central banks – we are in one of the most radical periods of monetary experimentation in the annals of money,” Grant told Kitco News Thursday.

    Grant added that it could be that it all works out, albeit a very “low probability.” “You want to have exposure to the reciprocal asset of the paper assets that are the most popular – so gold, to me, is now the conjunction of price, value and sentiment, and I am very bullish indeed.”
    Gold prices are on track for its longest run of losses since 1996.

    On the topic of U.S. Federal Reserve rate hikes, Grant said the central bank is in a hurry to raise rates. “The Fed feels it must act just for institutional pride; but, money supply growth is dwindling, the turnover rate of money likewise, the only thing that is dynamic in the world of money and credit is the issuance of more and more dubiously sourced debt, and more and more lenient terms,” Grant said.

    “What debt does is two things: it pushes forward consumption and pushes back evidence of business failure,” he added.

    http://www.kitco.com/news/2015-07-23/-Gold-Conjunction-of-Price-Value-and-Sentiment-and-I-m-Bullish-Jim-Grant.html

  15. I gave up reading Dave years ago…broken record and all that. This was the first piece of his I’ve read in ages, and the vitriol is astounding and sad. It serves no real purpose, but it must be cathartic in some way.

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