“He who does not bellow the truth when he knows the truth makes himself the accomplice of liars and forgers.” — Charles Peguy

If there’s been one overriding theme I’ve stressed from when I turned bullish on gold at just over $300 in the spring of 2003, it’s that the financial industry and most of those who report about it and the markets hate gold. I said it’s foolhardy to expect there ever to be a universally bullish view for gold, and that we should appreciate that there will always be forces whose desire is for gold’s price to be suppressed, lower than where it would be in a free market. Ironically, those who support such price suppression are the ones who call people like me and the good people at GATA tin-foil hat wearers, fanatics, or worse.

While most of those who may be bearish on gold now or have been so recently are legitimate forecasters who just see the cup as half empty versus my view of half full...