Mainstream Media Myths About Gold and Silver

gold price breakout in US dollars in 2019
Gold prices in US dollars are not the end-all, be-all in importance for 95%+ of the world’s population, so why does the media only quote USD prices for gold?

Mainstream media myths about gold and silver have existed for as long as the media has been mainstream. The reason I have repeatedly stated that numerous mainstream media myths about gold and silver exist is due to the insistence of mainstream financial journalists to only report about gold and silver price behavior from one perspective – denominated in terms of the US dollar. To break this dysfunctional perspective that the only perspective that counts is the American one, I recently started to post articles about gold and silver price performance in many other global currencies. Have you ever noticed how price appreciations of 85%, 150%, 585% and even more than 1,000%, in gold and silver denominated in fiat currencies other than the USD within the past decade are completely censored and ignored by the mainstream financial media, as if they are not happening on planet Earth but in some type of parallel universe?  In fact, in fulfilling their roles as banker puppets, instead of actually trying to fulfill their role as a journalist, all mainstream financial journalists still continue to only report gold and silver price behavior in US dollars, as if this behavior is the only important price behavior on planet Earth, when it is only most important to citizens that comprise a mere 4.26% of the world’s population. The mainstream financial media, in their reporting of gold and silver price behavior, completely marginalize the importance of gold and silver price behavior to 95.74% of the world’s citizens, and this marginalization is not accidental or coincidental, but executed for deliberate deceptive purposes and to further the objectives of mainstream media myths about gold and silver.  When was the last time you even heard a mainstream financial journalist speak of gold and silver prices in terms of even the Euro? Though this does happen, it still is very rare.

Though some may argue that the US dollar is still the top ranking international currency, and this is the reason that mainstream financial “journalists” only report gold and silver price behavior in US dollars, those that argue this point completely miss the point of owning gold and silver as a wealth preservation strategy. For example, when I visited a good friend in Australia several years ago, I noticed a headline in a regional Australian newspaper that read: “Gold prices fall for third year in a row.” When I asked a few people that were in the café where I spotted that news headline what was wrong with that headline, they looked at me baffled, as if there were nothing wrong with the headline. The problem, I revealed to them, was that the headline was a product of promoted mainstream media myths about gold and silver. I informed a few Australians whom I engaged in conversation about the misleading headline that the price of gold in Australian dollars had actually risen that year, in contraindication to the headline, and that the headline was only accurate in America, but incorrect for Australia.  And since we were in Australia, I asked them why in the world their media headline writers would deliberately write deceptive headlines and not be truthful in their reporting about the gold price rising in terms of Australian dollars that year? When I informed them of this deception, the handful of Australians to whom I spoke were not even aware that gold prices had risen in terms of AUD that year, thus proving my point about the harm of mainstream media myths about gold and silver.

More than a year ago, I addressed the mainstream financial journalists’ narrative that gold was a “dead asset” in a podcast released only to my patrons called “Is Gold a Dead Asset?” in which I addressed the ludicrous Western media barrage at that time describing gold as being a “dead asset”. Hard as it may be to believe today, the popular narrative promoted by mainstream financial journalists back then was that gold was a “dead asset”, one of the most promoted mainstream media myths about gold and silver.  In fact, this myth was being spread so aggressively back then that I felt a need to refute that silly narrative by producing a podcast for my patrons to address this media narrative, with the following brief description: “There seems to be a growing mainstream media narrative that gold has lost its shine as a safe haven among growing global financial risk, which by the way, they have conveniently and completely ignored. Is this true?” Of course, since I concluded that the aggressively-spread mainstream Western financial “journalist” premise that gold was a “dead asset” was completely false back then, especially since it was being spread in the midst of “growing global financial risk”, even if that risk had not yet manifested itself clearly.  My conclusion back then, provided to my patrons, was that these journalists were serving as the propaganda arm for Central Bankers and that to take opposite action to their commentary by loading up on gold and silver at those incredibly low prices back then was the intelligent choice. In fact, in the three to five short videos I release to my transcendent-level patrons every week, I called the exact bottom price for gold at $1,180 an ounce a year ago, and was only a couple of dimes off in my predicted bottom silver price at sub-$14 silver then.

Earlier this year, in April 2019, I exposed another mainstream media myth about gold and silver in the land down under after reading an article about plummeting real estate prices in Sydney. In the first week of April, I noticed a comment posted in response to an article about the 30% drop in Sydney housing prices by an Australian investor that vouched that he would “never” exchange his Australian dollars into physical gold, because he was determined not to be tricked by gold “scam artists.” In response, I posted a chart back then on my social media account that illustrated that gold had risen by about 220% against the Australian dollar over a 12-year period. Since then gold’s price appreciation against Australian dollars, has escalated even more, now up by nearly 300% when measured against the Australian dollars over the last 15-years. I’m sure that wealthy Australians that had 5 million AUD in the bank in 2004, if they had converted their AUD into gold back then, would much rather have the option of converting their gold back into 20 million AUD today instead of still having 5 million AUD in the bank.

For this reason, I’ve been writing more articles about gold and silver’s price ascendancy not just in US dollars and in Australian dollars, but also about gold’s price rise in Euros, gold’s price rise in Japanese yen, gold’s price rise in Argentine pesos, and below, about silver’s price rise in Hong Kong dollars. In other words, mainstream media myths about gold and silver are not limited to America, but they are actively promoted in every nation in the world, except Asian nations (and Russia) that are fierce advocates of gold (and silver).

silver bull in Hong Kong dollars, breakout imminent

From the chart above, especially given the political instability taking place in Hong Kong at the current time, it makes sense for Hong Kong citizens to purchase physical gold and silver for the long haul as a wealth preservation asset, as well as for citizens of any nation that has a debt: GDP ratio above 1:1. Of course, since every government underestimates their national debt by using questionable tactics like not including unfunded future liabilities in their overall national debt calculation and executing equally squirrelly manipulations of their GDP calculation to overinflate this data point, the real debt: GDP ratio of many nations is multiples of the officially provided debt: GDP ratio. Just watch this 2-minute video, courtesy of demonocracy.org, that I posted on 21 August on my social media account about the insanity of not buying gold as a key component of a wealth preservation strategy once one realizes the true nature of the massively underreported true US national debt figure (please note that the video is in two 1-minute segment so to view the second segment, one must click on the arrow on the right side of the video frame).

In any event, to continue this theme, I have noted the impending silver price breakout in Hong Kong dollars that makes physical silver a compelling buy from the perspective of buying silver in HK dollars. As always to read my articles when first published, please bookmark my blog.

Read my article about gold’s price performance in Japanese yen below:

2 September 2019.  “The Chart that Explains Why Japanese Should Buy Gold Now.”

You may also read below about my prediction three weeks ago in August that gold prices would fall to $1,480 an ounce and silver to $16.80 an ounce (which they did), after which I stated that when gold regained $1,500 and silver the $16.00 level, that “we could easily see more quick gains materialize next month [in September]”. This also happened in September as well, with rapid gains materializing in silver this month thus far.

14 August 2019. After Yesterday’s Gold and Silver Price Smash, What’s Next?

About the author: J.Kim is the Founder and Chief Education Officer of skwealthacademy, a coming revolutionary, disruptive online education academy that focuses on the provision of all essential missing educational components of schooling today such as critical thinking, applied knowledge, business ethics, and the pursuit of meaning through the attainment of life purpose and holistic wealth. Sign up for my weekly newsletter here and subscribe to my new maalamalama YouTube channel here and my maalamalama Instagram here.

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