BIZ: Gold on a Record Run, Where's the Media?
With Gold soaring to Record Highs, almost hitting $1150 so far, where is the media? Why is this not front page news? Lets assume that there are many more pressing issues, like the unending coverage of the health care reform, Sarah Palin's new book, unemployment (which has also seen very little coverage recently), but shouldn't mainstream media make an effort to inform the people of Gold's record high? Generally, when records are being broken, this is high priority press, but strangely not at this moment. Why?
Since it is highly unlikely the media giants will openly answer this question, I would like to take a moment and provide my educated guess on the subject.
In my humble opinion, by publicising the fact that Gold is hitting record highs, the Mainstream Media may in fact be propagating a bubble. While it is impossible to say where Gold will end, allowing a panic to ensue regarding Gold's record breaking highs, people may begin to shift their wealth to Gold from other things, possibly stocks. In so doing, the Gold Bubble would inflate, taking down the stock gains, or whatever other investment gains have occurred over the past few years.
Likewise, this may cause a different kind of panic, leading the more intelligent to question why gold is on such a streak in the first place. If the global panic rises concerning the Dollar's fall, this may propagate a further decline in the dollar which can be devastating to the world economy.
Strangely, this latest rise in Gold doesn't coincide directly with the Dollar's rise and fall.
In non-U.S. dollar terms, gold also climbed, hitting multi-month highs when priced in the euro, sterling and the Australian dollar.
Source: www.reuters.com
This may either signal that my first assumption has begun to come true, or more likely that this is just a trend that will even out shortly. Again, only time will tell.
It is strange to note that the Mainstream Media are ignoring this event completely. Looking at Google's Article Posting Timeline (at Right), we can see that at this point coverage of an event of this magnitude is exceptionally low. It is almost as if all media outlets were given a command to ignore this. I find it hard to believe that they all came up with their idea to ignore this independently of one another, and all for the same reasons.
shark
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Good post.....but the media is fixated on the Palin book.....and on abortion....they cannot be bothered with the fact that a raise in Gold is an indication of approaching inflation....
lobotero
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Of course. Obviously Palin's book is far more important. She is the Great White Hope ... or, maybe better put, the Great White Trash Hope.
Out of curiosity, I would love to learn the median IQ of her following. After hearing her speak, it is baffling that anyone would give her the time of day, but strangely she has amounted quite a mass. The AP may want to look in that direction as well.
shark
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She is a moron....I wrote a book review on my blog of her book....she is a silly imitation of a conservative ....I would bet that her followers have an IQ about the same as their shoe size (American not European)
lobotero
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They have been told to keep quiet!
Of course there is no sensoring of Western Media, I know because they told me so...
Kyle
Kyle
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I think, we are all played by tv and internet news nowdays. It can be about the balloon boy, Carrie Prejean's sex tape, Healthcare's aborting and death panel plans, recession, rising gas prices, Palin's stupid book, etc.
Don't you think sometimes that the media seems to be controlled by the government. As if the white house would send a memo to all media sources to not dwell on certain news like -
- Casualities in Iraq/Afganistan
- Rising gold
- Recession news
All of which doesn't show even on page 1?
Are they being overlooked for some bigger reason? I don't want to sound like a conspriacy theorist, but it sounds reasonable.
newsfreak
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I don't think you are being a conspiracy theorist ... just realistic. It is very obvious that the media follow their leaders in goose step. The mainstream media are far from a free press, they are guided by the editors, who are commanded from above. This is why Fox is on the right, CNN on the left and so on. Each outlet leans in a particular way. This isn't because all the writers lean that way, but because they are commanded in that way.
How often are the media ordered to supress news? From the bombing of Japan in WWII, to Vietnam, to every US war since then. The Media do as they are told, plain and simple.
Ignoring major issues, like casualties, gold, the dollar, recession and so on is part of the job. While it is good that they are avoiding a panic, some truth is also nice once in a while.
shark
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