OK,  its bothered me enough.   Enough even to write this trivial little post.

Every mainstream article I’ve read says the same thing:

“OMFG!  Gold is at an all time high!”.

It is NOT at an all time high.

 

Gold hit an all time high of $877US/ounce back in 1980.  In inflation adjusted dollars, that translates to $2,298.60US/ounce in 2009.

If gold goes north of this price, THEN it will have hit an all time high.

Why is it mainstream media gets this all wrong?  Is a bunch of intellectually bereft sheep all running around quoting each other, or is there a central mis/disinformation agency coordinating what outlets will say?

Is it possible they don’t want to report the inflation adjusted number to let people know how much the State/banking cartel has ripped us off via their inflation pogroms?

Advertisements