NEW YORK (Bullion Bulls Canada) -- It is a reality of life that those investors who favor gold (and silver) as their preferred asset-class need to have thick skins. On aggregate, Western investors are holding roughly one tenth the amount of gold and silver which they have held (in similar circumstances) in the nearly 5,000 years since we first began refining "good money."
Strip away the "gold bugs," however -- the less-than-5% of the general population who hold virtually all of our gold (and silver) -- and the Average Investor (in Western societies) is only holding approximately 1% as much bullion as in any similar circumstances, in the thousands of years since we first began refining these metals.
This absurd level of under-ownership comes despite the 12 consecutive years of rising gold prices, a statistic unmatched by any other asset class. Obviously "it's lonely at the top."
While the Corporate Media have engaged in an endless stream of juvenile scare-tactics to try to frighten people away from the world's best-performing asset class, probably the most defamatory of these attacks is the continual insistence that gold-bugs are Zealots who worship gold like a "religion."There are many ways to rebut such a ridiculous smear, however perhaps the best way to do so occurred to me while attending a recent international resources conference in Vancouver. As always, the "gold bugs" featured prominently in this conference. The commodities professionals who put together such shows first of all recognize the best-performing class of commodities (and all assets) when they see it. Secondly, they understand that the much-maligned gold bugs can be counted on to provide the most interesting and insightful presentations among all of their speakers. It was thus no surprise to see the executive group of the Gold Anti-Trust Action Committee (more commonly known as "GATA" ) being asked to once again share their knowledge with the attendees of this conference. It was Chris Powell of GATA who actually inspired my own (minor) epiphany, when he first reminded us of yet another scurrilous accusation hurled at the gold bugs by the mainstream media: that they (we) all are "nothing but a bunch of conspiracy theorists." He then pointed out in reality GATA was a non-profit information-gathering entity, which does its research and present its facts to a large-and-growing global audience.
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