I really have to vent about this article on Zero Hedge, a stunning examination of a 2008-published brochure on the gold vault of the Federal Reserve Bank of New York. While the article does note the age of the information, the piece is little more than a cheap jab at the vault, complete with this gem of a conclusion: “To think: so much trouble for a little tungsten…”. Repeat a lie often enough, people will start to believe it. But I suppose poking fun at a three-year old brochure really is the ticket for a slow news day - everyone is waiting for the next event (e.g. FOMC meetings) to move the metals price or is busy discussing how the indian-gold-for-iranian-oil is going to somehow trigger the next invasion of the middle east.
So this is a worthless post about a worthless post – attracted only by the opportunity for some recursion. After the euphoria passed, I realised that getting the scoop on ZH running a piece perpetuating a common metals misinformation meme was not actually that special, and I started to consider Charles Hugh Smith’s strategy of setting up a site dedicated to lol catz or something (surprised by my own design of distraction but might have something to do with the fact it’s rained here for nearly 5 days straight with another week to go making life a little crazy).
On the topic of intellect, here’s a quick mystery - Dr Peter Trzaska (one of our recent commenters) has spent 20 years in the metals industry and is currently making a living as a trader. There is no question that he is more intelligent than my good self. According to his blog (which bloomed briefly during October 2011 last year) he thinks Sprott is great and believes that silver is scarce. With all his knowledge, why does he think that? And why did he delete my comment that I left on his blog, enquiring into this? (which was not offensive – purely asked for his opinion because I was interested in what he had to say). I haven’t deleted your comments here Peter, that’s just not the way we work. I genuinely want to know why you think that silver is scarce, since all the evidence is against it.