Even if another flock of black swans drop dead mid-flight and come hurtling down to earth, this one still probably takes the cake…
(by Half Dollar) We’re only halfway through the year!
Nonetheless, thank you Justina Vasquez (and assistants) because if this year gets any weirder, at least I don’t have to worry about 2020’s best, or worst, depending on perspective, anti-gold propaganda.
We may already have our winner for 2020 in this little doozy, from Bloomberg:
That’s right folks!
There’s chaos in the gold “markets”, and it’s rippling to other precious metals, and specifically to the one we really wish we didn’t have to name, but will name in a subtitle!
Now, I’d just like to comment on the first two paragraphs because of Justina’s article because honestly, that’s really about all I can stomach from the mainstream media in general, and in this case, Bloomberg specifically.
Let’s begin (bold and bold added for emphasis and commentary):
The chaos that engulfed the gold market in March as the global pandemic choked off physical trading routes is rippling through other precious metals, resulting in price dislocations and a surge in exchange inventories for silver and platinum.
Uh-oh, there’s chaos in the gold market.
Better stay away!
And physical trading is choked off, you know, so it’s not even worth your time looking for some gold!
Besides, even if you did want to wast your time like that, you’re going to be paying way more than you should be paying!
You see, when the mainstream media adds certain types of dramatic words or phrases, which aren’t Bloomberg Terminal-lovin’ HFT algorithm trigger-words, such as “choked off”, the end goal is a play on investor psyche.
Said differently, this is a mainstream attempt to plant the Seed of Bad Vibes.
Continuing (bold and bold added for emphasis):
The gold market was thrown into turmoil in March as lockdowns grounded planes and closed refineries, leading traders to worry they wouldn’t be able to get gold to New York in time to deliver against futures contracts. That caused futures, which typically trade close to the London spot price, to soar to a premium, inflicting losses on banks that struggled to close arbitrage bets and spurring them to shift some positions out of New York futures.
Um, like, so just in case you didn’t understand in the first paragraph, let me say it again: You totally don’t want to be thrown into turmoil, do you?
Because that’s what you get if the thought of looking for safety ever crosses your mind!
There’s no safety in turmoil!
And when gold traders are worried, why would anybody want to be an investor?
Yes, I’ve used heavy satire to make my points here, but that’s how ridiculous the MSM really is.
That is to say, the heavy satire I’ve used is directly proportional to the absurdity in this article’s play on emotions.
Additionally, notice the system apology and complete disregard for gold market manipulation, rigging and price suppression!
In closing, a few points about the article, overall:
- This article is actually bullish for gold because it speaks to the desperation
- This article is even more bullish for platinum and the one they’d rather not mentions (silver)
- No amount of propaganda can stem the tide because it’s not a kiddie pool of investor demand but a tidal wave
What do you think about the latest Bloomberg gold hit piece?
Could you stomach it?