I just had to chuckle. The news highlights on Bloomberg TV at noon today was to reiterate this Bloomberg story from very early this morning, saying that gold was down sharply because of the Swiss gold referendum vote. And as a reference they cited this story from early this morning and mentioned nothing about gold’s spectacular comeback in the morning trade.
Swiss Gold Rejection Deals Blow to Investors Hurt By Slump
What is the point of a real time television network when you maintain the immediacy of a telegram?
A clue to this might be the presence of Willem Buiter, who gets trotted out every so often to say absurdly myopic things about gold, even before he went to work for Citigroup.
I wonder if Bloomberg TV would be this far behind the curve on stocks, if they had declined sharply and then correctly back up and broken out higher.
There is little question that they are somewhat clueless about what is happening outside the confines of North America. China? What is that?
The tremendous sea change in the international monetary markets is completely lost on these barbarous fiatscos.
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