Zerohedge ran the following article:
"One ton Gold Shipment Into Hong Kong Revealed to contain Just Worthless Metal"
The author linked a few pics of gold covered Tungsten bars ignoring the facts of the case and giving the impression, if you skimmed the article, that it was another "Salty tale" of Tungsten wrapped in a little gold.
Reading the ZH comments would indicate that some (/most?) people read it as a "Salty tale" but the reality was also in the article for those who actually read it.
"On Wednesday, Zhao Jingjun, 43, opened part of his shipment in front of his buyer in Hong Kong and discovered the gold had been switched for worthless metal." There was no mention of salted bars.
27,000 reads on ZH, retwitted, reflogged and linked "About 7,780" times.
A picture, as they say, is worth a thousand words.
Here is a pic:
Source: http://chrislipjournal.wordpress.com/2010/06/08/beating-mime-justifiable/
"One ton Gold Shipment Into Hong Kong Revealed to contain Just Worthless Metal"
The author linked a few pics of gold covered Tungsten bars ignoring the facts of the case and giving the impression, if you skimmed the article, that it was another "Salty tale" of Tungsten wrapped in a little gold.
Reading the ZH comments would indicate that some (/most?) people read it as a "Salty tale" but the reality was also in the article for those who actually read it.
"On Wednesday, Zhao Jingjun, 43, opened part of his shipment in front of his buyer in Hong Kong and discovered the gold had been switched for worthless metal." There was no mention of salted bars.
27,000 reads on ZH, retwitted, reflogged and linked "About 7,780" times.
A picture, as they say, is worth a thousand words.
Here is a pic:
Source: http://chrislipjournal.wordpress.com/2010/06/08/beating-mime-justifiable/
4 comments:
correct. it wasn't salted bars - it was The Italian Job....
and amazingly, ZeroHedge still hasn't figured out that stories like this are not bullish for gold... just like the salted gold story was terrible for gold, not great for gold...
This one is for GM...
https://twitter.com/FadeMeNot/status/479335358547906560/photo/1
First volatility in months today, and what do you know, it's gold and silver that catch a bid.
An early sign of market panic into the metals?
I think the low was in January, Joan Dark has missed it.
Time will tell.
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