On the heels continued volatility in key global markets, today a man out of Europe who has been extremely accurate with his calls on the gold market sent King World News a powerful commentary which explain why there is so much emotion involved when it comes to gold. KWN was given exclusive distribution rights to the outstanding piece below by Ronald-Peter Stoferle of Incrementum AG out of Lichtenstein.
By Ronald-Peter Stoferle, Incrementum AG Lichtenstein
Why Is Gold Such A Highly Emotional Topic? Possible Reasons For “AUROPHOBIA”
It appears as though there are only two camps when it comes to gold: people who love gold (a.k.a. ‘gold bugs’) or people who hate it. Between those two extremes there appears to be very few shades of gray, and people are only very slowly moving from one camp to the other. Gold is having a hard time ridding itself of the reputation of being a “barbarous relic”; a reputation created in the 1980s and 1990s. Demystification and relativization as far as a number of unshakable myths and misunderstandings go (“buying physical gold is expensive”, “gold is highly speculative” etc) are slow.
It appears as though there existed – especially in the financial sector – an ‘aurophobia’. This pathological fear of, or aggression towards, gold does not seem to exist for any other currency or other asset class. After all, we have not heard of such a profound aversion against copper, we do not know of any “bond haters”, nor are militant property bashers a popular concept. We regard ourselves as analysts rather than psychotherapists, which is why we do not really want to dwell on the reasons for that strong aversion. However, in our opinion there are a number of phenomena of behavioral psychology that explain the extreme emotions attached to gold.
“People can foresee the future only when it coincides with their own wishes, and the most grossly obvious facts can be ignored when they are unwelcome.” George Orwell
Source King World News