Loading ...There seems to be a widespread problem in the mainstream media. Either writers are not checking their facts, or more ominously, they are intentionally spreading falsehoods. A recent example of this can be found in a Reuters article titled “Cracks appear in China’s gold leasing trade as jewelers suffer defaults”.
According to the article, Chinese banks are growing alarmed by a rising number of defaults on gold loans made to jewelers. Allegedly, they are reviewing gold lending more carefully. It is true that the top four Chinese banks have up to 443.4 billion yuan ($69.63 billion) tied up in gold leasing but that’s about as far as it goes. Yet, according to this Reuters “journalist”, a pull back in gold lending will adversely affect China’s gold imports and “hit global bullion prices.”
The article was read by tens of thousands of western investors, many of whom will believe the statements made in it. These investors will make incorrect decisions based upon incorrect information. Specifically, this particular article cites patently false information to back up the writer’s premise that a widespread default in gold loans will cause Chinese demand for gold to fall. same ole “Jews Journalist & Jesuits” crap..JJJ the word processors…Genisis of false information.