There are times when the anti-gold propaganda in the western world, or at least the US, becomes just too much to let it pass by. I usually let it roll off but sometimes it needs to be illustrated for what it is:
A deliberate attempt to get people in the West to lose faith in the ability of gold to protect one's wealth, presumably with the side benefit of causing those same people to either not purchase gold at all, or to sell what they already have.
The mystery is that so many people fall for the propaganda efforts despite its ham-handedness (a prime case follows), as well as the fact that the Federal Reserve and other western central banks have only managed to create ever larger and more damaging bubbles over the past twenty years.
With a track record like that, who would want to have all of their wealth tied up in paper claims on central bank liabilities (i.e. fiat currencies)?
The Anatomy of a Takedown
Yesterday, April 15 2014, saw a truly remarkable effort to take down the price of gold. An attempt that involved a coordinated release of both bad press and hefty short raids in the COMEX paper gold pits.
First, let's turn to the bad press. It began on April 14th with the publication in the Wall Street Journal of the main findings of a report put out by the World Gold Council (WGC). The report itself was neither overly bullish nor bearish on the prospects for gold, but did follow the WGC's usual pattern of hinting at lots of reasons that gold's price should remain well-contained.
The interesting part is that the WGC report was not released until the 15th; but the WSJ ran with its summary at 7:00 p.m. on the 14th with this headline:
China Is Losing Its Taste for Gold
Apr 14, 2014
China's appetite for gold is waning after a decade long buying spree, suppressed by the country's economic slowdown and constrained credit markets.
by pgp 
