When it comes to “realms of fantasy”, the title to this commentary doesn’t flow nearly as smoothly from the lips as “The Land of Oz”. However, the two fantasy realms share so much in common that I felt somewhat compelled to use this allegory.
To begin with, in both realms we regularly witness the most fantastic events; events not even slightly constrained by the laws of science (or economics) or simple common sense. Illustrating this concept beautifully is another piece of gibberish churned out by the anti-gold propaganda mill.
“Gold posts weekly loss as EU jitters boost dollar”, reads the title; immediately identifying this piece as more nonsensical propaganda. As I have noted in many previous commentaries, all of our governments have declared us to be living in a world of “competitive devaluation”: where our governments “compete” to see who can destroy the value of their banker-paper the fastest.
In such a world it is absolute nonsense to talk of any currency being “boosted” – easily illustrated with a simple analogy. Two people jump off a 100-storey building at the same time. On the way down, one person climbs on top of the shoulders of the other. Obviously the dominant fact of this hypothetical example is not that one person has “boosted” himself, but merely that he will go “splat” on the pavement a millisecond later.
This is a constant illusion from the propaganda machine, because it is their chief means of deception in delaying hyperinflation – i.e. the final collapse of the paper currencies and the reassertion of “good money” (gold and/or silver). Being in the final death-throes of the collapse of yet another paper-currency Ponzi scheme, competitive devaluation is the perfect bankster smoke-screen.
Getting all governments to devalue their currencies simultaneously is the most effective means to hide the total destruction of our currencies from the near-comatose sheep. Returning to the analogy of two people jumping off a tall building, to each other neither appears to be moving – or at the very least it drastically reduces their perception of the speed at which both are falling.
It is only those who are standing on the ground who are capable of perceiving how fast the two jumpers are plummeting. However, in an era of competitive devaluation, then by definition there is no one “standing on the ground”; we are all falling – together.
The other aspect of total nonsense in the article I cited (still only looking at the title) is the total absurdity of connecting a drop in the price of gold to “EU jitters”. Here the propagandists have to lie primarily by omission.
Gone are the days when the propaganda machine attempts to brush-off gold as “a barbarous relic”. That line became a major liability on the day that central bankers (the primary source of that propaganda) flip-flopped from being sellers of gold to buyers of gold. Had the propagandists continued to trot-out that old, tired line; first of all it would have meant explicitly exposing this flip-flop, and second it would have attracted all sorts of unwanted scrutiny with respect to the original lie itself.
Instead, confronted with an overwhelming dose of reality, the propagandists have grudgingly been forced to again refer to gold as “a safe haven” (and in fact the safe haven) in their own propaganda. Thus the propagandists have been reduced to lying-by-omission.
It is an elementary premise of logic, economics, and human behavior that “jitters” cause people to run toward any/all safe havens. Therefore, implying that somehow the price of gold is being depressed by the (made-in-Wall-Street) Euro debt-crisis is nothing less than deliberate dishonesty.
This is especially true when even the propagandists themselves have already publicly identified a much more direct (and truthful) driver of lower gold prices: “the lowest negative lease rates on record”. The bankers pay “traders” (i.e. their agents in U.S./UK banks) to borrow their gold – and then that gold is immediately dumped onto the market in the form of more bankster shorting.
It is beyond obvious to state that if you pay someone to borrow something that there will be a long line-up. Put another way, should any Wall Street bank ever choose to pay people to borrow their money the way the banksters pay people to borrow their gold, that bank would run out of money with around 300 million other, eager takers waiting for their opportunity for free money too.
So with the banksters deliberately running-down their inventories in this manner in order to maximize gold-shorting over the short term, we have an explanation which is simple, obvious and rational – in comparison to the ridiculous lie in the piece cited above. This is what makes lying by omission such a clumsy, inept form of propaganda. The moment you add in the omitted facts, the propagandist is totally and irrevocably discredited.
Note that Bloomberg couldn’t resist further lying in “defining” the negative lease rate for gold:
“A negative reading means that banks have to pay to have their gold deposits lent.” [emphasis mine]
Back in the real world – i.e. the place where 6+ billion of us live, and are buying gold in record amounts, on a daily basis, the premiums to purchase gold are near record-highs. Assuming that Bloomberg’s propagandists visit the Planet Earth (at least on occasion), it is impossible that they could not be aware of this fact – making what they wrote yet another deliberate lie.
As with the Land of Oz, in the Land of Anti-Gold Propaganda salvation also lies via “following the yellow-brick road”. While the Munchkins of Oz had only the symbolism of painted bricks, in our own fantasy realm we can still escape to safety through the acquisition of bars of gold – just like the central banks are doing themselves, as they dump their (worthless) paper, and use it to buy gold.
The evil intentions of these Banker Oligarchs have been chronicled on an infinite number of occasions, by many other writers beyond myself. Thus, the simple fact that these villains have instructed their media mouthpieces to attempt to do everything possible to deceive and discourage people from buying gold is alone more than enough reason for people to run to their nearest bullion dealer. However, when these same individuals are dumping the paper they create in favor of gold, this is nothing less than a neon-sign exclaiming “BUY GOLD” in 20-foot tall letters.
The Land of Oz is a fantasy realm which we know will disappear approximately two hours after it springs to life on our television screens. Conversely, we are forced to permanently dwell in the Land of Anti-Gold Propaganda. We can afford to be oblivious to the true significance of the “yellow bricks” of Oz. Conversely, the failure to properly understand the economic salvation represented by gold (and silver) dooms those individuals to financial annihilation.