Gold websites are online funny pages
First off sure, I get published or linked at some of the main gold websites. So, there’s that. I also have a headline from last December stating ‘2022: the Golden Year‘ that I may have to own up to publicly if the hunk of long-term value does not get up off its ass this year.
That said, I like to think my stuff is different in that it reports what it needs to report at any given time rather than tow the company line.
Since I don’t have a lot of market stuff to do lately (the waiting is definitely not the hardest part; it’s the more relaxing part) I took a look around the Bug-o-Sphere. And what did I see?
- A chart guy who was pronouncing bullish on the precious metals last I looked a few weeks ago, and now pronouncing how bullish the US dollar is (duh) while sprinkling in some negative backtracking about gold. All based on long-term chart patterns and structures.
- An irrepressible perma-pumper talking about the 50% gains to come in gold stocks because… ha ha ha, inflation! I would respect the contrarian view if not for the wrong-headed inflation aspect and if not for the fact that it’s been one ‘!!!!’ strewn pump piece after another since well, forever.
- The usual end-of-world political crap that serves market participants little other than to get their emotions riled up through distraction from their actual job, which is to listen to and be aligned with the market.
- The usual end of the world crap that has been predicting a major market and economic crash since, well, also since forever. Oh and when these squirrels finally find their bearish nut you watch how they tout (and how the MSM falls all over itself to harvest your eyeballs with titillating ‘Man Who Predicted the bear market of 2022 has a new prediction…’ headlines.
- Housing crash this, systemic inflation that and Fed obsession the other thing.
Other odds and ends notables are copper/base metals/commodity bulls repainting recent history with dark words about the Fed and what that means for markets (anybody using the right tools would have seen the Fed’s forward path even before the Fed fully got on board), including commodities. And of course the silence of the ‘death of the dollar’ cult. Now? Crickets.
It goes on and on. As I’ve noted before, GoldSeek and Gold-Eagle publish my stuff no matter what it says. Negative on gold’s price, positive on stocks or economy, or the other way around, they publish. I respect that… a lot. But some sites curate the content to a gold bug or market bear’s view. It’s cherry picking mode, with articles telling you how bearish stocks are and how potentially bad the economy is (they are and it is) but the elephant in the room for many of the gold promoters (talking individual ‘analysts’) is that gold is a pretty looking turd in a rancid punch bowl right now.
As a gold bug that does not bother me because of how I see the pretty turd, as enduring value rather than a play. But it is kind of funny how some of the same people who pronounce hellfire and brimstone for stupid stock market patrons tend to clam up about why gold and silver are sucking wind as well. Gold sucked wind through the inflation and it is sucking wind through inflation’s failure.
And do you know what? It’s all normal because most gold bugs are inflation bugs and they are dumbfounded (or inventing conspiracy laden excuses). If you don’t align with the majority you can comfortably view it for what it is. That is part of the process. Throw in the over-followed commodity tout Twitter influencers as well and it’s a real shit show out there right now.
It’s also a time when a relative few are going to be outside of the shit show and only make our appearance when appropriate. I am the first to state that I am not always right. But I don’t need to be because I let the analysis take us where it is going to take us, not my ego or worse, uncaring herd tending in the form of promotion and predictions. That is tradition in the financial media, from the largest outlets on through the niche sites to the lowliest newsletter hacks.
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