Take physic, pomp

It’s bad business to be honest in the gold sector

This CNN report, “25% of physical gold buyers are crazy, metals executive says” has Peter Hug of Kitco speaking plain truths about truthers, being honest about the honest money brigade, de-bugging the goldbug world. Your extract:

Hug’s comments at the Inside ETF Conference last month may raise some eyebrows because he is an executive at one of the largest online retailers of precious metals in North America.These so-called crazy gold provide lots of business for Kitco. He said their influence is most obvious in the market for smaller units of physical gold between one and 32 ounces.“These investors buy the metal and it just disappears. It goes under their mattress. They want to use it when the world ends,” Hug told CNNMoney.

And of course the goldlovin’ mouthbreathers who faithfully follow Dubya’s binary Either-With-Us-Or-Against-Us gospel worldview are up in arms now (and Peter Hug, that expression can be taken quite literally so be careful), organizing Kitco boycott petitions (ah those online petitions, they never fail to alter the course of humanity) and suchlike when all Hug had the temerity to do was to be honest. Nutbars are attracted to goldbars like flies to a large fetid pile of elephant excrement lying in the middle of a road just outside Mumbai. We all know that, so get over it people. 

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