Some people just don’t get it, or they get it but write for The Wall Street Journal, so they must conform to being MSM propagandists…
(by Half Dollar) So “Pet Rock” guy says he was wrong.
Of course he was.
But that doesn’t mean he’s not doubling down!
From The Wall Street Journal (bold added for emphasis and commentary):
Almost five years ago to the day, a market commentator with a prominent platform called gold “a pet rock.” Since then, gold has risen nearly 70%, hitting an all-time high this week.
That market commentator? Yours truly. How wrong was I, and what can we learn from my mistake?
We can learn that being a propagandist is your job, and anybody who fell for your “pet rock” pitch is a sheeple, which is the WSJ’s target demographic.
Additionally, now that gold’s hitting all-time record highs, five years and myriad Ministry of Truth filler later, gold can’t be avoided by the mainstream financial press.
And since the mainstream financial press can never say anything good about gold, and if for some slim chance they must say something good, such as when, oh, say gold hits all-time record highs, here comes the subtle attack (bold added for emphasis and commentary):
If, however, you’re buying gold by the fistful now that it has surged in price and popularity, then you run a substantial risk of ending up being as wrong as I have been.
You can’t make this stuff up!
Honest question: where is the “substantial risk” right now, in the holding of US dollars, or in the holding of gold?
Follow-up to the honest question: What does that say about silver?
Finally, check out this line from his article (bold added for emphasis and commentary):
Even so, traders and investors who are perennial fans of the yellow metal have a flaw in their thinking too. They always believe gold is cheap, no matter what, even though they seldom have the same reasons for believing that it’s cheap. That is its own sort of mistake.
Uh, no Jason.
We do not “always believe gold is cheap, no matter what”.
In fact, when priced in real money, silver, just recently, gold has NEVER BEEN MORE EXPENSIVE.
It’s called the “gold-to-silver ratio” for a reason, you know, so perhaps try to understand Gold Bug and Silver Bug thinking before spewing utter nonsense.
In fact, do us all a favor, and before writing another article about gold (or silver) read up on Article 1, Section 8 and Article 1, Section 10 of the US Constitution, and not only may you come to appreciate Gold & Silver, but you will come to realize that it’s not really a choice.
Clearly, Jason really needs to understand what money is, and what money is not, as well as what gold and silver are, and what they are not.
If Jason Zweig would like to discuss any of this, all he has to do is send an email to [email protected] and we’ll make it happen, and we’ll discuss it live on our YouTube channel so we can take audience questions and address comments in the chat.