Larry, Larry, Larry…

Hey, how often is it that I get to use the Stooges two posts in a row?

Larry, now you’ve done it. Potentially cursed the ‘gold up, stocks down’ crowd once again (well, the ‘stocks down’ crowd, at least). From Zero Hedge, which has only ever published anything I’ve written when it has happened to be negative about stocks and/or bullish about gold (or maybe both at the same time; can’t remember for sure). Zero Hedge, bringing you a one-way view of the markets like no other massively read Ministry of Information.

“We’re Near The Very End”: Lawrence Lepard On Bitcoin, Gold & The Coming Crash

Larry is intelligent (Harvard Business School, don’t you know). Larry is nice (mid-west guy with a polite demeanor based on my experience meeting with this former subscriber in 2012). Larry is also perma. Perma-bearish stocks, perma-bullish gold based on idealism. He admits as much. That is not just a Larry thing. It is a gold bug thing, at least among the gold bug thought leadership. You uphold the basic tenets of gold buggery or else what good are you?

Polite Larry also got a little unhinged with me a while back. After he’d blocked me for uploading the golden cheerleaders to his feed (no words, just a picture) I came across this tweet by him because a follower we have in common had either liked it or commented on it. I had not even ID’d the author as you can see. But I found the tweet to be perfect for making a point. It was an opportunity to highlight a particularly gold buggish statement. The kind of statement the leader bugs issue and the follower bugs swallow hook, line and sinker.

Well, someone replied and tagged Larry and I then came under gold bug verbal assault by Larry and then a bunch of drones with a “you tell him, Larry!” cheer. Larry sure told me. More bad words followed.

The point of this post, however, is not my dirty Larry laundry. We have since kissed and made up with Larry apologizing and saying “we’re all on the same team”. And there’s the problem again. There are no teams. This is war. In this war you don’t even always know who your true enemies are. The worst enemy is the bullshit you yourself are liable to believe and then live and act by.

THERE

ARE

NO

TEAMS

“Got Gold?” “Go Gold!” Yaaaayyyy… GOLD!

cheerGold is a monetary asset. A hunk of metal that will retain value long-term despite all the noise in the interim. Many of the plays out there will not retain value. But here is the issue; these plays often last for years. Years upon years. As the unfair, rigged and anti-public system wears on, so do its rules.

You are playing in a casino with house rules. What the fuck makes you think that the house is going to be on your side, on the side of your ideals? This house is worse than the mob because for one thing, everybody knows what the mob is. The financial house is cloaked in respect and confidence among the public. And that is what it is, a confidence game. But… house rules! As long as the house stands.

Have your values, have your convictions, have your long-term views. But don’t try to fight the house on its terms. That’s really all I’ve ever been trying to say when the golden girls above appear in a post or a tweet. It just does not make sense.

I am long actual gold. Perma-long. I happen to be long gold stocks today to the degree that I’ve felt the bounce would continue and to the degree that I am open (at least) to it morphing to something more. But I am also long a lot of other areas, as strategic analysis has instructed. And that stuff is out-performing gold stocks handily.

Bottom line? Be as bullish as you want. It’s up to you. But understand the full scope of the rules of the house in which you play. Zero Hedge, for one, only presents one side.

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