The NY Times Tries To Demonize GoldBy Dave Kranzler Some of you may remember back in like 2003 or 2004 when golds move up was starting to catch the eye of the mainstream media and CNBCs Bob Pisani made the comment from his theatrical perch on the floor of the NYSE that gold is the currency of terrorists. The mainstream media has an obsession with demonizing gold. Its the metal of terrorists; its a pet rock; you cant eat it; it doesnt pay interestand now the NY Times is connecting the ownership of gold with Bin Laden. Why even bring this up? Bin Laden has been dead since 2002 (kidney failure) 2011. Of course, the NY Timeshas morphed into little more than a propaganda mouthpiece for the elitist interests that control it. In that regard, the NY Times article associating Bin Laden with gold ownership reflects the growing concern of the elitists over the slow but steadily growing interest in precious metals ownership by the public. But the U.S. Governments policy of eradicating the legitimacy of gold as currency goes back the 1970s. Discussion and education about gold as a currency was systematically eliminated from the educational system in the early 1970s after Nixon removed any connection between fiat currency and gold. As an economics major in undergrad (1981 1985), I took some financial economics courses. Gold was never mentioned. I studied financial theory at the U of Chicago B-school (1989 1991) from the same professors who wrote the finance textbooks I used in undergrad. No mention of gold in any respect, not even for historical perspective. Now that golds long term bull market is beginning to re-emerge, articles which disparageif not vilify gold are appearing in respectable mainstream media publications like the NY Times and Wall Street Journal. But if gold is no big deal, how come the Fed refuses to answer any inquiries about its dealings on gold: Smith then asked Dudley whether the Federal Reserve has swapped gold with the governments or central banks of other countries. Dudley replied: I cant comment on individual customer kind of transactions. GATA.org Perhaps if the NY Times et al. were interested in digging up real news about gold, these publications would looking into the dealings by the U.S. Treasury and the Federal Reserve with respect to the 8,100 tonnes of gold allegedly held in storage at Federal Reserve vaults. If gold is no more than a pet rock that just sits there doing nothing (Warren Buffets comment about gold) why is the Fed intentionally non-transparent with respect to its trading activities in gold? After all, the Fed publishes daily disclosures about its trading activities in its U.S. dollar fiat currency. These are of course rhetorical questions. In fact I would suggest that the anti-gold propaganda will increase in direct correlation with the next leg up in the gold bull market, which began in mid-January. After all, a properly informed and educated public is dangerous to the Government Would the New York Fed respond with such contempt to a similar inquiry from, say, The Wall Street Journal, New York Times, Reuters, Bloomberg News, or the Financial Times? The possibility of such critical and specific questioning about the Feds surreptitious intervention in the markets probably does not worry Fed officials in the slightest. At least such questioning has never happened before. GATA Image Credit You can read more from Dave Kranzler at his site InvestmentResearchDynamics.com But but but. you cant eat gold! Whereas fiat with some ketchup is a delicacy. Plus, theres no limit to fiat lunches so long as the presses are operational. Stackers are going to have last laugh as history has shown again and again. 