Ladies and gentlemen: it appears as though the powers that be are trying to get us to run around a pole at the speed of light so that we will eventually end up screwing ourselves.

The media is going all out now as Wall St. gives the orders. BNN put this bozo on this morning to put gold in its place...on top of the GS 'annoncement'. It never ends.

Simon Derrick
managing director, Bank of New York Mellon

“The Korean Conflict: Why Gold Isn't a Safe Haven for Investors”

As geopolitical tensions rise between North Korea and South Korea, investors are watching global markets closely for reaction. In the past, gold has been a safe haven for investors in times of war. BNN finds out why Simon Derrick, chief currency strategist, Bank of New York Mellon, says people shouldn't look to gold this time, and that when it comes to the Korean conflict, the U.S. dollar is the true safe haven.”

This bozo has the gall to say we should be worried about our gold investments if the Korean situation deteriorates, that gold can be a hedge against cash debasement, but not a hedge against political crisis such as North Korea … that gold performed poorly in 2008 … the $US and US treasuries are the things to go to ( I guess there’s no debasement then) …gold went up in the last few days with the easing of tensions …. But if the situation gets worse gold will go back down … he is bearish on gold ‘anyway’ because ‘we’ are close to the end of the monetary policy easing be the U.S. … the rise in the $US dollar is bearish for gold so it’s heading down to the $1300 level … Japanese are selling their gold for Yen now …gold has had its run against the Yen over 11 years …Japanese investors are bringing their money back home to be as safe as they can be? …the $U.S. is a better safe haven than gold in a time of crisis …especially in a financial crisis …if you believe that assets will be destroyed … but if you’re worried about currency debasement then hold gold ….but if your fleeing from something more serious like geopolitical tension or financial crisis .. like the threat of an imminent missile crisis …”something rather more real than simply a financial crisis”.

Have you ever heard such rubbish?