What happened the last time rabid anti-gold propaganda reached the headlines? I'm not talking about obscure articles that not many read, instead I'm talking the HEADLINES that are reserved for urgent propaganda that will be read by the widest audience. Well, gold has finally reached that point where the corrupt oligarchy feels the NEED to bash gold as loudly as possible. To quote Shakespeare, methinks they doth protest too much. Why?
Well, lets take a look a look at what Time Magazine screamed in August 1976 (when everyone used to read Time)
The Great Gold Bust
'To hoarders and speculators, gold lately has had about as much luster as a rusty tin can. In the 19 months since gold purchases became legal for U.S. citizens, the price has fallen more than 40% from its peak of $198 an ounce. In three chaotic days of trading last week, gold fell $14 on the London market, reaching a 31-month low of $105.50 an ounce. Though the price recovered to $111 by week's end, that is still a dismal figure for goldbugs, who not long ago were forecasting prices of $300 or more'.
Gold had fallen from around $200 in 1974 to $105 in summer 1976. And this article was the straw that broke the camel's back for many - they threw the towel in. That turned out to be a tragic mistake, because no sooner had the article been published than gold began a new upleg. Over the next 4 years, gold rocketed up some 800%.
Those who forget their history are destined to repeat its mistakes. Its 1976 all over again
