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Glyn G
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Another Obituary for Gold

- Tim Iacono - Iacono Research

I spotted this today from Bloomberg. Someone has evidently paid them to talk down gold.

http://www.bloomberg.com/news/2013-08-14/paulson-cuts-spdr-gold-stake-53-as-soros-sells-out.html

Much of the same material but this time suggesting that Hank Paulson and George Soros pulling money out of ETF's suddenly indicates they no longer have faith in gold. No mention of the fact that this may possibly represent an acknowledgement that Gold ETFs represent counterparty risk. Far from representing a flight from gold the moves mirror the run on physical, and a desperate desire to escape exposure to paper markets.

It strikes me as appalling and sad that the press in the US are no longer interested in truth but appear to make a living spreading propaganda for the highest bidder....which in this case appears to be the government.

Commented 3907 days ago

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Beginning of the headline :This Bloomberg/Businessweek story offers up yet another premature epitaph for the gold market after its dismal showing in 2013, a year that still has four-and-a-half months to go and, surprisingly, is suddenly looking up for the yellow metal. Clocking in at 3,000+ words, this is obviously a case of quantity over quality as should be clear via the excerpts below. During a 12-year bull market, the metal was promoted as a hedge against inflation, a store of value and a spectacular investment in its... Read More

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