With a bullion bankster from RBS as the ‘guest host’, the latest CNBC Commodities Corner attempted to claim gold is ‘in a bubble’ with the metal nearing $1800 again, claiming ‘nobody actually needs gold‘ and that those wishing to allocate a portion of their funds to gold should utilize an ETF.
Unfortunately for CNBC, the producers didn’t do their homework on their guest, Managing Director & CIO at Swiss Asia Capital, Juerg Kiener.
Kiener calmly shot down all of CNBC’s propaganda stating, ‘Gold is actually money. When you believe that gold is actually money, would you rather have your money in your pocket, or give it to a loan shark? Physical ownership in your own hands is key!‘
Regarding CNBC’s claims gold is in a bubble Kiener replied: ‘I’ve never seen a bubble in which investors’ allocation is under 1%‘.