Sometimes when I read major media financial publications, I think I’m reading something from the U.S. Centers of Disease Control or the U.S. Food and Drug Administration. I especially get this feeling when one or another provide commentary on investing in precious metals.

The current issue of Forbes is a case in point. One of its professional investor columnists writes, “Gold is supposed to be an anchor of stability in uneasy times. Currencies can collapse, stock markets can crash, bonds can default, but that yellow stuff is there forever. And so you are expected to put some portion of your retirement assets…in gold. I am going to try to talk you out of this…I think the best way to contend with these uncertainties over a quarter of a century is with a well-diversified portfolio of cheap index funds…Skip the precious-metals allocation.”

In other words, having forsaken the “index funds” for something like gold would have been dangerous, highly risky, in the view of this “professional.” No matter that a $10,000 investment in gold in the year 2000 would have increased to $50,000 today, while the same $10,000 invested in a fund mimicking the Dow Jones Industrial Average would still be worth about $10,000 (in dollars that are depreciating practically before our eyes).

Ten-year trend in gold prices, 2000-2010Sound familiar? Sort of like the “professionals” who tell us that consuming unpasteurized dairy is so terribly risky, when the government’s own data actually tell us it isn’t particularly risky.  In both arenas, the professionals hollering fear and danger so vastly outnumber those preaching calm and reason that most of the public accepts the conventional wisdom as gospel.

I got to thinking about the comparison between investing and eating a few days ago, when I read that Ohio State University is planning a study about why people drink raw milk. It is looking for 60 raw milk drinkers (as well as 60 pasteurized milk drinkers) to answer questions, fill out some forms, and provide samples of the milk they drink, to be examined for fat content. One of the scientists quoted in the Ohio State press release about the study states, “We truly do not know very much about how people make the choice to drink raw or pasteurized milk — there’s just nothing in the literature,” How about that, there’s nothing in the literature. Maybe because the scientists have been so busy trying to scare people from drinking raw milk.

I’m certainly open to the public health community and the government wanting to learn more about why increasing numbers of people are drinking raw milk, and maybe, radical thought, what the nutritional benefits of raw milk might be. Don Neeper, an Ohio raw-milk activist who comments here, wrote me that he has been told by one of the scientists at Ohio State that the team is “committed to running an impartial study.”
 
That would be quite something in itself, since the study’s “principal investigator”, Jeffrey LeJeune, is a professor who last year published an article about the dangers of raw milk consumption in the journal Clinical Infectious Diseases, entitled, “Unpasteurized Milk: A Continued Public Health Threat”.

It concluded: “Given that milk is derived from animals, it inherently carries the risk of being contaminated with pathogens from its source (cattle, goats, sheep, and the farm environment). The key factor in the prevention of milkborne disease is consumer avoidance of raw milk consumption. In an effort to protect human health, a number of organizations have published guidelines and statements concerning milk pasteurization. The American Medical Association (policy H-150.980) [67] clearly asserts that milk sold for human consumption should be pasteurized. Likewise, the American Veterinary Medical Association asserts that only pasteurized milk and milk products should be sold for human consumption [68]. Thus, physicians, veterinarians, and dairy farmers who promote, or even condone, the human consumption of unpasteurized milk and dairy products may be at risk for subsequent legal action.” Yes, the old “Say-something-good-about-raw-milk-and-I’ll-sue-you routine.” I thought you had to be a lawyer to use that trick.

Neeper is inclined to cooperate with the study, and that makes sense  (though I imagine the scientists could find out pretty quickly why raw milk drinkers do what they do, and save a bunch of dough, by attending a local Weston A. Price chapter meeting). The whole thing has something of the flavor of a British anthropologist heading out to study the indigenous population in one of the empire’s colonies 100 years ago–hold my nose and try to figure out what these uncivilized wretches are like so I can write my paper.

I can’t imagine someone like LeJeune could come up with more negatives about raw milk than he has already, except maybe to conclude that drinkers are clinically deranged. More likely, he’ll be like the professional investors who continue to disparage investing in gold–he won’t let something so mundane as the facts interfere with his view of the world.
***
Maybe the discussion on outsourcing following my previous post didn’t result in the butter sticker plan Amanda Rose liked being implemented by Organic Pastures Dairy Co., but it certainly was civil and substantive. Perhaps an acknowledgment by all concerned, including me, that outsourcing for providers of premium nutrient-dense foods is an important matter. Consumers need to get as close to their food as possible. Suppliers need to be especially careful, and transparent. Sure, Lykke and Amanda may have different perspectives, but the conversation with Mark McAfee was amazingly substantive, and he was as responsive and forthcoming as any company president could be.

I’ll add that I agree with Lykke that the Weston A. Price Foundation would do well to revise its account of the 2006 illnesses blamed on Organic Pastures. The WAPF account seems to blame spinach and antibiotics, when it says a recall of OPDC milk “occurred during the midst of the spinach contamination scare and seemed to be aimed at deflecting attention from the huge problems of E.coli O157:H7 contamination in produce. The state claimed that five raw milk-drinking children became ill, two of whom were hospitalized, given antibiotics and almost died. (The other three received no antibiotics and recovered quickly.)”

***
On the political front, there’s something interesting happening in Iowa. One candidate for secretary of agriculture is actually talking about busting agri-business monopolies and using local food production to create jobs. He’s Francis Thicke, and he’s trying to raise gain national financial support to win an upset victory against a Big Ag candidate in a serious agricultural state.

He tells me in an email, “I am trailing the incumbent narrowly (within the margin of statistical error).  The very good news is that when respondents were given basic facts about the incumbent’s and my positions on issues, I passed him by a large margin.”

We need more people like Thicke running for office.

***

I’m frequently asked by readers of this blog whether there is a way to be alerted by email when a new post goes up, or a new comment is entered following a particular post. It turns out there is. It’s not super simple to get going, but it’s not terribly complicated, either, and I’m told by a few readers that it does work. Take a look at this FAQ for the specifics.