Gold Hits A Record -You Would Not Know From the WSJ

Wednesday, January 09, 2008

Investors in the oldest currency of the world have every reason to celebrate. Gold traded up to a new record of $881 per ounce, erasing the previous alltime high at $875 almost exactly 28 years later. No matter what fiat currency is measured against it, gold has never been stronger all around the world.
You would not know from Wall Street Journal online. Their only reference to the strong show of gold prices counts a meager 13 words, hidden in the 15th paragraph of Peter A. Mckay's report on today's markets:
Gold futures hit a new record high, up $20.8 to $882.80 an ounce. (You have to pay for this information.)
The reason for gold's stellar performance can be found in the rest of this report. Stocks, especially financials, are plunging and no day passes without a couple of former top bankers leaving their keycards with their PA.
Why is it that MSM keep to ignore the strongest bullrun of this millennium, when gold has outpaced most other investments except energy and silver? Is it the same reason that oppresses information on Ron Paul's political agenda in the Murdoch empire? A media conglomerate afraid of honest politics and honest money?
It may sound tough to those not holding gold but it will not be possible to escape the coming wave of asset deflation with paper assets. The exit gold offers will become costlier with every day. It cannot be created at free will and is the only asset that does not depend upon the reliable fulfillment of an obligation by a counterparty.


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