There are a hearty few who refuse to take the easy way out, who have the courage to accept the uncomfortable truth that these falsehoods are no basis for planning their futures. Who see the lies for what they are and refuse to be lulled into a comatose acceptance of the unsustainable status quo.
Make no mistake, I read what they’re saying. I see it virtually every day, from Bloomberg to independent investment blogs to Market Watch . I see the slings and arrows in the headlines and in the comments. Dogmatic. Zealot. Goldbug. Emotionally invested beyond rationality. Bleeding cash for three years straight. Unable to admit being wrong.
One year ago, I wrote an article here titled The Paper Armageddon Portfolio outlining a rationale for investing in certain sectors from a “hard assets/tangible value” perspective that would reflect the TFMR understanding of the ongoing Keynesian process of QE, artificially low interest rates, market manipulation, and dollar devaluation.One year later, I thought it would be worthwhile to check back in on this investing thesis to see how these picks and sectors fared and to discuss what we might learn from their performance over the last year.
You should... he is now in charge of the CFTC, the government agency that "regulates" gold and silver futures trading, now that our buddy Gary Gensler has retired. His name is Tim Massad and he will do absolutely nothing to enforce the rule of law or ensure fairly traded markets.
At some point people will wake up and understand that although they are following the rules (and following the herd when it comes to investing advice) they are swimming against the tide, and the tide is winning.
I've often seen these people, these squares at the table. Short stack and long odds against them. All their outs gone. One last card in the deck that can help them. I used to wonder how they could let themselves get into such bad shape, and how the hell they thought they could turn it around.
The final chapter of the Roman era closed not with the sudden violence of a barbarian invasion and war, but decades later with the quiet dismantling of the once-grand physical remains of a bygone period of wealth, when the productivity that had supported it was no longer possible.
The portion of the story that fascinated the host was that the accused man allegedly offering to pay the for the hit either in cash or in silver bullion. What followed was a Tourette’s-like barking of nasty names and random aspersions to describe what she apparently viewed as the typical silver investor.