Press Reports

Section:

A GATA VIEWPOINT
by Farfel

GATA's plea for gold investors to mount write-in campaigns to senators,
congressmen, and gold mining executives is certainly a good start. Yet,
more fuel must be added to the fire.

GATA must also go after Big Media as well, particularly giants such as
CNBC that constantly purvey anti-gold agitprop to the public on both
conscious and subliminal bases.Start at square one: there is a
continuing debate as to whether or not gold is a financial reserve/de
facto currency or merely a commodity. If gold is to be considered a mere
commodity, then its price must fall a lot further. On the other hand, if
gold is still a pandemic currency, then its price is certainly far too
low.

So, it is no small thing that CNBC treats gold as a mere commodity in
its daily financial reports. The gold price is always listed with other
commodities (such as soybeans) and is never quoted under currencies.

When CNBC provides a daily quote on the value of the Yen, Euro, and
Pound, then why is the price of gold not listed at the bottom? After
all, gold is convertible to currencies all over the world... However,
one cannot say the same thing about cattle, for example.

Is it not preposterous to suggest that gold and copper are equivalent
items in terms of their respective functions in the global economy?

Do central banks hold copper reserves? Does the Bank of International
Settlements accept copper as a currency? No, but the same international
bank DOES accept gold francs.

CNBC's negative treatment of gold is a form of mass conditioning. It has
been going on for so long now that the general public accepts it as a
fact. When CNBC provides interviews with gold analysts, then why does it
always prefer to provide the "pro-gold" perspective from the World Gold
Council? In doing so,CNBC once again treats gold as a mere commodity.
After all, from the public perspective, what is the difference between a
trade group such as the WGC and the various trade organizations that
promote milk, pork, or tobacco.

For a proper pro-gold perspective, CNBC must seek out opinions from
Central Bank governors, currency traders, treasury officials, etc. Such
people would lend credence to the idea of gold as money, a financial
reserve, and pandemic currency. Yet, on CNBC, you will never hear
comments on gold from the "money creators" and their absence from the
debate reinforces the gold-as-mere-commodity theme. Instead, CNBC
prefers to trot out commodity traders at large Wall Street firms for
comments on gold.

No matter what they say (pro or con) about the metal, the very fact that
COMMODITY traders are always the ones making the comments tells the
world that, "gold is no longer money."

n conclusion, every time a Big Media outlet such as CNBC treats gold
like any other commodity, there should be a flood of protests from gold
investors. It should be strident, chronic, and forceful. The protest
should begin at square one.... get CNBC and its ilk to treat gold as a
currency.

Everytime CNBC reverts to treating gold as a mere commodity, LIGHTUP THE
SWITCHBOARDS AND SCREAM!! If such protests don't work, then the GATA
class action must also serve process against Big Media in its
unquestionable conspiracy with Wall Street investment houses to "talk
down" the price of gold.

If I were Mr. Murphy, I would let Big Media know that they too can
expect to be targets of GATA litigation unless they change their
collective tune. Maybe the warning itself will be sufficient to effect
change.

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