re: gold propoganda/stephen wyatt
Stephen Wyatt has been writing this sort of rubbish for more than a year. As I read the AFR quite often, I look at the "Commodities" section where you can usually find his uninformed remarks, especially in regards to gold.
As I can remember, his last attack on gold was something like: "All the signs are there that gold should be going through the roof: reduced hegding, falling exploration, falling supply, global risks (irrelevant but anyway), struggling US $ etc.., but what has gold been doing - NOTHING. It's going down to $150 long term."
Generally, the media needs a quick & catchy spin on a story. Stories can't be too informative (news has to be entertaining these days) so it needs to be quick & to the point. So, what's causing the gold price to rise - Iraq. What's causing oil to rise - Iraq. What happens when we kick Saddam's arse - It will go down.
Yeah right. What if it doesn't?
What if the real reason that gold & oil is going up is more deep rooted.
Nah, that story is too complicated. Too much elaboration - keep it simple stupid. (Stephen)
