Sunday, April 7, 2013

Soros & Weisenthal Want to Separate You From Your Gold

By, Chris Rossini

If you ever want to know what "EVERYONE" is doing (or talking about) you'll feel right at home reading BusinessInsider. It's the entertainer for the financial mind.

Part of the show always includes some kind of anti-gold harangue. The pom-poms are always shaking in support of the Kudlowvian "King Dollar," and how we must always have more and more trillions flitting around about us.

Anytime gold's ascent (versus the fiat digits) takes a pause, or corrects, the BI staff is one the case. Headlines of gold getting "CRUSHED" or "DESTROYED" or "DEMOLISHED" are prevalent throughout the correction.

And if someone like George Soros makes one of his goofy anti-gold statements, watch out!

Today's Headline reads: SOROS: Gold Has Been Destroyed As A Safe Haven

Apparently Soros was asked by a Hong Kong newspaper about his view of gold, to which he replied (my emphasis):
It has disappointed the public, because it is meant to be the ultimate safe haven. But when the euro was close to collapsing in the last year, actually gold went down, because if people needed to sell something, they could sell gold. Therefore they sold gold. So gold went down together with everything else. 

Gold was destroyed as a safe haven, proved to be unsafe. Because of the disappointment, most people are reducing their holdings of gold. But the central banks will continue to buy them, so I don’t expect gold to go down. If you have the prospect of a crisis, you will have occasional flurries or jumps. So gold is very volatile on a day-to-day basis, no trend on a longer-term basis.
This was followed by some Weistenthal Wisdom (<---Joe should trademark that):
...his point about how gold is not a safe-haven is spot on. During overall weakness, when central banks are trying to push down real interest rates, gold seems to benefit. But in a real panic, people sell gold to raise cash.
Let's keep in mind, dear reader, that gold has risen from $35/oz, when "King Dollar" was "liberated" from reality, to about $1,900 fiats. It has corrected and consolidated down to about $1500.

And the entertainers want you to believe that gold has been "destroyed"....again.

Meanwhile, those precious dollar digits (that grow from keyboards) are on a relentless spiral into the abyss. Just in my own humble trips to the grocery store, I'm starting to see $5 loaves of bread, and almost $5 bags of potato chips; not to mention the constant grind of rising bills that keep hitting my mailbox.

I know....I know...2% inflation...your eyes are tricking's only an illusion.

I've heard.

If you've been someone easily seduced by what "EVERYONE" is talking about, stick around EPJ for awhile. Separate yourself from the herd's mentality.

And if you're interested in the day-to-day happenings of the gold price; make sure to subscribe to The EPJ Daily Alert. You'll be able to sleep like a baby at night, without worrying that Soros or Weisenthal will jump out of your closet to spook you out of gold.

Follow @ChrisRossini on Twitter


  1. You should trademark it and then charge him royalties and call it the Rossini Formula.

  2. Wenzel wants to separate you from your ideas.