Today’s revelation of China’s surge in gold imports in the month of November from its principal gold dealer, Hong Kong, exposes Western financial media for the umpteenth time for its blatant propaganda (at the behest of central bankers) against one of the only assets that will protect wealth during these most turbulent times. Sign-up for my 100% FREE Alerts
“Mainland China’s imports from Hong Kong surged to 102,779kg/oz from 86,299kg/oz in October,” stated bullion advisory group, GoldCore. “This is a 20% increase from the already high number seen in October and a 483% y/y increase.”
See zerohedge.com for the full article from GoldCore.
Note: see the staggering trend of Beijing gold purchases in the Reuter’s chart, below, halfway through the article.
While a media blitz campaign waged against the gold market kicks into full gear, the Chinese buy tons.
And let’s not forget India, the country that, last year, bought more gold than Switzerland claims it stores with the SNB, which is approximately 1,000 tons.
“Gold traders in India, the world’s biggest buyer of bullion, stepped up buying for the upcoming wedding season, as gold prices stayed near the week’s trough, giving silver a boost,” India’s Economic Times stated on Jan. 11.
The two largest bulk buyers of gold are stepping up with increasingly larger orders as the spot price retreats, but the U.S. and UK media tell readers the gold bull market is over—or that gold should be seriously questioned as to its validity for wealth protection during the biggest financial crisis since the 1930s.
Goldmoney’s James Turk, who told King World News on Jan. 9 that he sees the propaganda machine blitz at full throttle throughout the pullback in the gold price from its incredible rise to $1,920.
Whatever happened to the “buy on the dips” mantra from ‘traditional’ media?
“There is a war going on with regard to gold and people are lined up on both sides,” Turk told KWN’s Eric King. “The central planners want gold to disappear, but gold is not going to disappear because it’s been money for 5,000 years. What the central planners and the manipulators and government agents and everybody else are doing is they are putting out a lot of anti-gold propaganda.” [emphasis added]
For those not familiar with James Turk, it was he who broke the story about the UK-based financial magazine The Economist for its peculiar track record for publishing significantly bearish articles at, or near, gold price bottoms. In two articles, Gold’s Infallible Indicator and Gold’s Infallible Indicator—Six Months Later, Turk demonstrates why gold bugs should watch for that out-of-the-blue gold article from The Economist.
And the Fed’s co-conspirators extend beyond The Economist, the Wall Street Journal, Financial Times (FT) of London, Bloomberg and CNBC serve as propaganda tools (at critical moments) for central bankers as well, according to several reliable sources, one of which is the UK-based Guardian in an article penned by journalist David Miller in Feb. 2006.
“A succession of scandals in the U.S. has revealed widespread government funding of PR agencies to produce ‘fake news’,” Miller stated.
“World Television produces the fake news, but its efforts are entirely funded by the Foreign Office, which spent £340m on propaganda activities in the UK alone in 2001.”
And in the U.S., it’s no surprise that the feds fund propaganda budgets of its own, but presumably much larger than those of the UK. From ComputerWorld, written by Darlene Storm in February 2011.
It’s recently been revealed that the U.S. government contracted HBGary Federal for the development of software which could create multiple fake social media profiles to manipulate and sway public opinion on controversial issues by promoting propaganda. It could also be used as surveillance to find public opinions with points of view the powers-that-be didn’t like. It could then potentially have their ‘fake’ people run smear campaigns against those ‘real’ people. As disturbing as this is, it’s not really new for U.S. intelligence or private intelligence firms to do the dirty work behind closed doors.
It can be assumed a lot of UK and U.S. propaganda focus primarily on foreign policy issues. Wars are tough sell, and a lot of propaganda must be bought in the same way commercial enterprises utilize ‘advertising’ of its products. Makes sense.
However, instead of outside foes endangering the sovereignty of nations (again, propaganda has us believe otherwise), the 16 intelligence agencies, which make up the NSA, stated in a 2009 report to Congress, that the economy has become an immediate national security concern.
Reuters, February 2009:
“The financial crisis and global recession are likely to produce a wave of economic crises in emerging market nations over the next year,” said the report. A wave of “destructive protectionism” was possible as countries find they cannot export their way out of the slump.
“Time is our greatest threat. The longer it takes for the recovery to begin, the greater the likelihood of serious damage to U.S. strategic interests,” the report said.
According to The New American in an article in September 2011, titled, Fed Plotting to Monitor Critics, Tailor Propaganda, in response to the 2009 NSA report, the Federal Reserve issued a “Request for Proposal” to “monitor billions of conversations” and to “reach out to key bloggers and influencers [sic]” in an effort to massage opinion.
Apparently, CNBC’s Steven Liesman can’t do all the spin work and propaganda for the Fed, himself.
The Fed’s “Request for Proposal” explains that the institution needs a platform to “monitor billions of conversations” and “identify and reach out to key bloggers and influencers.” Information collected will be used to measure the effectiveness of the central bank’s “public relations” and “communication strategies” — known in laymen’s terms as propaganda operations.
“There is need for the Communications Group to be timely and proactively aware of the reactions and opinions expressed by the general public as it relates to the Federal Reserve and its actions on a variety of subjects,” the document states. News outlets, Facebook, Twitter, forums, blogs, YouTube, and other social media platforms will all be targeted.
Government, media and central bankers want the public out of gold and work full time to make it happen. ‘Analysts’, too, are deployed to spew misinformation about the economy and gold. No surprise there. Though, no one has publicly proved that any one particular analyst is involved in the anti-gold propaganda campaigns, but three men have been labeled the worst gold analysts since the gold bull market began in 2001.
Those three, or the “Three Stooges”, gold analyst Peter Grandich had called them recently, Jon Nadler, Dennis Gartman and Jeff Christian, sport truly horrendous records, similarly to The Economist dismal calls, as James Turk had pointed out.
In December 2010, Richard Russell of the famed Dow Theory Letters attacked on both fronts against the these three Lord Haw-Haws, one, the traditional media and, two, Nadler, in particular—though Gartman and Christian could easily have been interposed instead.
“I listened to Kitco’s Nadler on the Bloomberg channel this morning,” Russell stated. “He’s been bearish on gold for months, and I thought he sounded like a know-nothing fool today. Why didn’t Bloomberg interview someone who’s been bullish and right about gold?”
“What’s with the Wall Street Journal and gold?” Russell asked rhetorically. “In the Dec. 6 paper, the front page blares, ‘ETFs and Gold.’ So I turned to the gold article, which included a rare error in its headline, ‘Resisting Gold’s Glister.’ I assumed they meant gold’s ‘glitter.’ The article was written by a Tim Medley, a random guy I had never heard of. Mr. Medley’s main half-assed complaint about gold is that it is too expensive today and therefore dangerous in that it may correct. Worse, claims Medley, there is a current ‘euphoria’ regarding gold. Too many people are bullish on gold. Therefore, gold is about to lose its ‘glister.’”
Gold investors, beware of what you read and who you follow for advice. As a general rule, stick with analysts interviewed on King World News and not from infrequent or other Wall Street analysts on traditional news outlets. Sign-up for my 100% FREE Alerts
Also read BER articles on this subject,