Don’t Let Them Bug You

While away in NYC this weekend attending the parents’ part of orientation at my daughter’s new school I had the time and inclination (not usually the case) in my spare time to look around and actually read at length the major and minor financial media to get the tenor of things.

Yeah, there is perma Trump/China noise and a volatile market to go with it. There is fear, greed and hysteria. There are the deflationists out in full force. There remains the goofy inverted yield curve media hype trying to scare people (it’s the steepener they should fear, not the flattener or inverter) and of course, there is the least pleasant thing about a gold bull market. There are the gold pumpers out in force. They school you, admonish you and scare you into their orthodoxy and why not? They’ve got the distressed backdrop as proof of their ideological correctness.

So here is a gentle reminder that while gold bug dogma may ultimately be correct in many of its conclusions it has been 8 long years in the desert as the true believers got killed by actually putting their money where the most strident bugs’ mouths were.

Now. They. Are. Back.

This was all triggered for me because while sitting on a train unable to sleep I got a chance to read Mark’s posts at IKN on some mining pump called Belo Sun Mining.

Checking in on the John Doody/Porter Scamsberry Belo Sun (BSX.to) pump job

What John Doody is not telling you about Belo Sun (BSX.to)

I don’t know much about Doody other than back in the previous bull market he had a “top 10” list of gold stocks that many bugs thought of as ‘go to’ for miners/royalties. From my brief looks into that situation at the time the list appeared to be nothing special at best; a promotion based on a minor legend. Anyway, as to the links above, I was disgusted and triggered to remember that for me disgust goes hand in hand with bull markets in gold. So do the promotions.

As I read on in minor media I noticed that a certain prepper site appears to be back in full swing. That would be the one run by a former pal of mine (name withheld because it’s not my job to be an investigative reporter, but some may recall…) who’s gained some pretty heavy notoriety by offering solutions for masses of financial refugees on the run from the fallout of a dying system. They could be dispensing worthwhile advice now but for the last 8 years? Err, not so much. Many had pain if they’d acted on the warnings (peak oil anyone?) for that near decade long span.

So to summarize, just because it appears the macro is kicking in and it appears that a gold bull market is engaging, this site you are reading right now will keep it real and it will tell you some things you don’t want to hear. Subscribers will hear each week in detail what they alternately want to hear, don’t want to hear or don’t care much :-( about hearing. In other words, NFTRH will just remain true to what it sees, not some fucking club with a certain decorum and orthodoxy.

We will not pump ideology. Sure, some conventional market participants probably think that some of what I put out is the product of a lunatic. That’s great, because while I am disgusted by the ideological promoters I have outright contempt for those who stand in line and eat the breadcrumbs laid out for them by the media, by politicians and even by academia. So yes dear conventional participant *, I am probably closer to that bug up top there than I am to you.

But as Mark shows each day and as per several other bugs I know in the minor media and through personal contact, there are really good people covering the sector. But those damn promoters are taken seriously by the newer entrants who tend to gravitate to the most visible (i.e. aggressively marketed) characters. So, due warning to those people. Some day it will end in tears (again) if you do not grow beyond the orthodoxy.

* That’s probably not you because well, you’re here reading right now! Unfortunately, conventional participants are off reading conventional, digestible and/or titillatingly alarming stuff.

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