For those thinking whether Tuesday’s outside change off of gold’s June lows will indicate the end of the 2+ year decrease in gold and silver, Yahoo Finance has news propaganda for you: gold is going down for another 18 years!
“Gold is pretty ugly- down over 30% year to date. Do you look at gold here or just stay the heck away from it?”
David Nelson: “I can’t find alot of reasons to like gold, you should avoid it. The whole inflation argument that QE was going to cause inflation and hyper-inflation has been blown out of the water…If you go back and and look at the last bear market in gold, it took 20 years for it to bottom! Even if you think this might be a bottom, we’re only a couple of years into this. You could be 5-6-7, even a decade early! Finally, the advent of virtual currencies like Bitcoin are a negative for gold buyers.”
Can you smell the MSM desperation in the air?
Full MOPE at Yahoo Finance:
