Gold Bashing Now Pure Counterfactual Propaganda

The Reset Original Video 

"Gold is widely seen as a safe-haven investment, but that's not always the case. This is why gold presents such immense danger for investors over the next few years. The reason for this is that we're currently in a deflationary environment. Gold is only safe in inflationary environments." Dan Moskowitz via Investopedia Story Is Gold Still A Safe Haven?

I have written in past on gold bashing stories and in that post I said of the gold bashing writers "Their goal is not to objectively offer the facts to let the reader, who may or may not hold precious metals, determine what a logical portfolio may be. It is to convince those who don't own precious metals, themselves included, that their choice not to own any is the right one." Many of the past stories denouncing gold bend facts to make their readers and themselves feel better about not owning gold, but there is another kind of gold bashing story.

Beware Economists Bearing Multiple Reasons

"If you have more than one reason to do something (choose a doctor or veterinarian, hire a gardener or an employee, marry a person, go on a trip), just don't do it. It does not mean that one reason is better than two, just that by invoking more than one reason you are trying to convince yourself to do something. Obvious decisions (robust to error) require no more than a single reason."
Not only do people use multiple reasons for doing something to convince themselves, but also to convince others. Recently Bloomberg borrowed my work (without citing) to discuss the Crypto-E-dollar. My piece was a warning, but Bloomberg portrayed the E Dollar as a viable solution strictly for economic reasons. Today they ran a new story on banning high denomination cash to aid law enforcement. They cited a paper done by a Harvard economist, Peter Sands, entitled Making it Harder for the Bad Guys: The Case for Eliminating High Denomination Notes. Here is an abstract of the paper.

Gold for a Finite World

"Now, the gold bugs will no doubt reply that under a gold standard big bubbles couldn't happen, and therefore, there wouldn't be major financial crisis. And it's true under the gold standard America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931 and 1933. Oh wait. The Truth is that returning to gold is an almost comically (and cosmically) bad idea." Paul Krugman

This quote is the typical opinion of economists with a Keynesian bent. The only problem is it has no bearing in real economic history.