I'm stunned. MSM pushing gold (60 minutes)

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Eternal Student
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I'm stunned. MSM pushing gold (60 minutes)

I couldn't believe it. Overheard this, and I first thought it was a commercial. But it went on too long, and it turned out that, yes, 60 minutes was hyping gold ownership. Well, as close as it gets in America.

http://www.cbsnews.com/8301-18560_162-57376057/precious-metal-indias-love-affair-with-gold/

So, what's up with this? Usually 60 minutes just has propanda pieces, or hit journalism. Did they not get the memo? Or did a new memo just go out?

Edited by admin on 11/08/2014 - 06:02
JY896
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I wonder what they would show about the same topic in China...

Good to see you're still around, ES.

"Gold is so important to the lives of Indians, the poor can now get financing for it. Beela Babu and 13 other women run a small business. Every week they collect part of their hard earned money - about five dollars apiece - in a pilot program that lets them buy gold, one gram at a time."

These ladies have the right idea (I hope they are getting a break on the premiums, though).

"Because in your mind, that is a saving. That is going toward your saving account. You're not-- you know, a lot of people, when they come and buy gold, they don't think they're spending money. It's not an expense. It's an investment."

THIS is the part I always have trouble convincing my wife about, even though I get bullion, not jewelry...

As for what's going on -- it may be 'look at those foolish, backward people, squandering their scraped-together cash on worthless, vain baubles' OR a subtle part of the process familiarizing and acclimating US populace to the concept of the value and importance of precious metals. I have seen a number of these instances going on in the last few weeks/months -- will try to go back and find a few.

My guess is the latter.

Take a look at this one: NPR primetime interview last week with author of book on inevitability of fiat currency failure. Nothing most of us don't know, and I realize NPR Morning Edition is not the same as Walmart front rack shelf or Oprah's Book Club -- but nevertheless this is gradually being introduced into the public consciousness.

http://www.npr.org/2012/02/07/146488124/-paper-promises-this-is-the-version-i-want

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Paladex
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That's a danger sign

If TPTB are encouraging the masses to buy gold, even a little, it means there's money to be made in driving up the price and then shorting it on the way down. Who loses? The poor bastards who were late to the party and bought high. Given history, those same people will panic and sell their bullion at lower prices. They lose, and TPTB win again.

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