Unnamed cryptos get the nod, but silver, as usual, gets the sh…ahh, nevermind. Here are the details of this MSM gold hit piece in disguise…
This story is gaining some traction in the mainstream today.
Let’s look at the story as covered by Bloomberg:
Notice the category choice of “Technology”.
Why is this article appearing in the “Technology” section?
It’s simple, because whenever the mainstream media is essentially forced to cover a story about gold, and, Heaven forbid, about silver, every effort must be made, right down to the most seemingly insignificant of details, in order to make sure the coverage is as anti-gold as possible.
You see, Bloomberg owns Bloomberg Terminal, and Bloomberg Terminal is a very expensive subscription software service which feeds “market data” galore to anybody willing to pay for it, and highly productive members of society, otherwise known as HFT algorithmic black box developers who’ve learned to code, generally employed by the Washington-Wall Street revolving door firms, program their robo-trading computers in such a manner that the data spewing from the Terminal determines what trades are executed, and there is just too much of a risk to the cartel with even the simplest of things such as putting the word “silver” in the title or dumping the article under the category of “technology” instead of “markets”, even though the “markets” category more clearly categorizes this article by Bloomberg.
Does it not?
Here’s a hypothetical example of how this works:
- A news story is released on Bloomberg Terminal.
- A computer algorithm programmed by some “trading” firm scans and scours the article in a pre-programmed way.
- If, for example, an algorithm is programmed in such a manner that “If silver rises by 5.1%, buy copper”, then those trades would be automatically executed, in a pro-programmed way of course.
So yeah, back to the story at hand.
Patrick Byrne has sold nearly 5 million shares of Overstock, his entire holdings, and he is using the proceeds to buy a couple of crypto-related things, although undisclosed, but he is also buying gold and silver.
From the same Bloomberg article (bold added for emphasis):
Byrne cashed out nearly 5 million shares for about $90 million, according to a regulatory filing late Wednesday. The sales started Monday after a 65% surge took the stock to the highest in almost a year last on Sept. 13. The stock plunged 20% that day and is down 35% so far this week. Shares fell as much as 8.9%.
In a Wednesday blog post titled “A Message to My Former Colleagues at Overstock,” Byrne, 56, said he planned to plow the proceeds in securities that are “counter-cyclical to the economy,” including gold, silver, and two types of cryptocurrencies by Friday. Byrne also said he would be willing to provide a “capital injection if needed by buying back into Overstock” once he’s legally allowed to do so.
For these reasons it may give you some comfort to know what I am doing with the capital generated by the sale of my stock: after paying tens of millions in taxes (after all, “We didn’t build that,” right?) by Friday the rest will be in investments that are counter-cyclical to the economy: Gold, silver, and two flavors of crypto. The gold and silver are stored outside of the United States, in Switzerland, and within two weeks, will be scattered in other locations that are even more outside of the reach of the Deep State, but are places that are safe for me. The crypto is stored in the place where all crypto is stored: in mathematical mist, behind long keys held only in the memory of someone who is quite good at storing such things in memory (with paper backups in the hands of a priest I met 35 years ago who never sits foot in the West).
So it seems silver is indeed a central theme to what Patrick is doing.
Of course, when the MSM needs to get people to “sell” silver.
You don’t really want to release a silver bullish article.
But notice all of the things Patrick is implying.
Silver’s not in a bubble like stocks are.
Silver has no counter-party risk.
Silver’s ‘outside’ the system.
Silver’s worth a big bet.
Silver’s the future.
Silver will win.
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.