Fox News Goes Full Retard On Gold

We’re very bullish on gold, which is the anti–paper money, of course, and is underowned by investors around the world. – Paul Singer, Elliot Management Corp

I keep Fox Business channel on because it has the best tv “ticker scroll” for monitoring basic market activities.  Also, some of the women on the show are easy on the eyes.  Liz Claman is not one of those.

I came in from getting lunch and saw this tag-line on Claman’s afternoon show:  “Gold Losing Glitter.”   I turned up the volume to hear her explaining to the idiots who might actually listen to the garbage broadcast on the show that gold was getting hit today because investors no longer felt a need to use gold as a hedge against the BREXIT vote now that the polls show that BREXIT is currently out of favor with the chippies in England.

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Considering that gold is up about 20% since mid-December, vs. 1.9% for the S&P 500, it’s safe to assume the reasons that gold is being accumulated stretch a lot further and deeper than Claman’s idiotic explanation.

In fact, Prime Minister Cameron announced a referendum date for a vote on the issue of whether England shall remain in the EU, or not, on February 22 this year. Only 5% of gold’s 20% price appreciation since it bottomed in December has occurred since that date.

I dare say it’s a bit pre-mature to announce that gold is  losing its glitter, especially in connection with the British EU referendum.  The truth is that gold is being accumulated by smart money as a hedge against the idiocy of fiat currency-based monetary systems controlled by corrupt Government’s and Central Banks.   It’s as simple as this:

Paper money eventually returns to its intrinsic value:   zero.  – Voltaire

7 thoughts on “Fox News Goes Full Retard On Gold

  1. She’s a script reader and too much of an airhead to have an original market thought. Must be a Murdoch theme!

  2. I think it is about the so called little people who are starting to to buy gold that worries the elites. If it turns from a trickle into a flood they are not going to be able to keep control much longer. There was a similar piece in the FT last week under some idiotic cliche like ………. ” All that glitters isn’t gold.”

    What made this even more moronic was it followed the news that Sorros is going big on Gold. You just know the snake oil salesman who are selling this crap are buying gold themselves. I wonder if Clayman and these other tv geniuses are buying gold?

    1. Mark … it appears that have not recognized a good marketing program when you see one. Do you think those same gold buyers would be buying on the basis of no fear factor being present ? It’s become a necessary evil of sorts ….. the “stick approach”.

      What may be missing in your own analysis is the recognition that even if the elites wanted gold monetized (which actually saves the fiat system, BTW) , now that bullion trades in real-time pricing, it cannot be monetized from the classical apex of power whether it be by government or central banking. A top-down approach would be far too sudden and abrupt. It requires the stealth of the organic market action. No crashes please !!!

      1. You know so much – you really need to start your own blog. Take your views to the public. Open them up for all to see and comment on. Otherwise you are nothing more than a male with a vagina

      1. Yes, which is why so much “poor man’s gold” – aka silver – is being purchased. As currency, silver has better fungability anyway. In Canada in Q1, RCM silver maple leafs set a sales record.

  3. Brexit has nothing to do with gold’s currency role in being able to purge debt while it also supports economic activity anywhere and everywhere on the globe.

    We still need liquidity. We sill need to exist purge debt.

    Gold is NOT anti-paper or anti fiat currency . Those who see it as such are asleep because they are assuming gold’s role to be static (investment or store) and are not looking at the circulatory qualities of bullion. When viewed correctly, bullion becomes symbiotic with the dollar …. a modified , real-time relationship for the measure (dollar) and the weight (bullion). We all win.

    Old habits die hard, however.

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