Monday, October 3, 2011

Media Wake-up Call

Only this morning do we see the media in New Zealand reporting on the growing protests in New York.

The NZ Herald reports, "Occupy Wall Street demonstrators are railing against corporate greed, global warming and social inequality, among other grievances." Or perhaps, simply, "No job, no income, therefore angry and desperate. Listen to us, or else."

You have to wonder at what point the main stream media (MSM) are going to 'get'it' and get serious about the turmoil created by this economic crisis. Starting in Algeria and moving through the middle-east and even across to London and Manchester, people are venting their desperation in increasing intensity . Sure, there is the odd opportunist criminal element and radical group using this for their own political ends, but take a look at the New York 'mob'. Some old grey haired ladies and mothers with children. Interesting.

Only in the last few weeks has the local MSM here been asking some hard questions of the government and the system. The debt downgrade by Fitch and S&P last week has brough this to a crescendo (in MSM terms anyway). An example is an article today in the NZ Herald talking of "Mountains of cash not enough to save US". Yes, this reporter sounding like someone they used to call 'gold bug' or' right wing radical'. 

Perhaps the questions about the fiat money system are finally being asked. You cannot print wealth. Sure, as stated, the US dollar is looking stronger in the last few weeks. Measure this against gold though and you see another story. The MSM hasn't gone that far into analysis; yet.

On the New Zealand TV Breakfast Show this morning the interviewer was asking a Banker why the recent debt downgrade in New Zealand occurred. The Banker goes on to blame the debt orgy on the populous. Message to interviewer, why didn't you ask the Banker why his banking industry dished out ship loads of money to people in the first place. Profits perhaps?

If we analyse the media a bit, we could come to the conclusion that it's all a bit airy-fairy. For years, the blogosphere has been rampant with alternative news sites and individuals warning of this growing calamity. The MSM largely ignored these views. To your peril because their silence has affected your wealth.

It is now getting late in the day to switch your views to reality. But as the protests and unrest grow worldwide, and undoubtedly to New Zealand, the media will wake up and report on real life not the sham that has been the economy over the last 40 years.

Gold in New Zealand dollars: $2134.80 per oz
Previous all time high: $2284.16 per oz (19 Aug, 2011)

Silver in New Zealand dollars: $39.38 per oz
Previous all time high: $59.19
per oz (30 Apr, 2011)
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