The Inmates Are Running The Asylum

It is incredible to me how the mainstream media is able to say the most idiotic things and people believe them.

Yesterday, Bloomberg ran the following article entitled "Gold Declines as Dollar's Rally Erodes Demand for Alternative Investment."

Here is a sentence that just defies common sense:

“People are losing confidence in the economy, going lower risk and buying the dollar. Everything else will be sold, and people are taking profit in gold.”

The truth is this. When the economy tanks, so does the dollar, and gold goes up as people lose confidence in the dollar/economy. That is FACT, and not up for discussion!

So for this idiot to suggest that people are losing confidence in the economy, and as a result are buying dollars and selling gold is simply absurd. That's like saying, "Quick! My house is on fire! Call our insurance agent honey and cancel the homeowners insurance."

The only question that needs to be answered is "Is Bloomberg really this stupid, or, are they deliberately trying to mislead people?"

I'd answer "yes" to both.