The Wire Has A Lesson for Precious Metals Blog Readers

I’m watching The Wire for the first time on Amazon Prime Video and this clip from Season 3, Episode 11 sums up everything about the goldbug blogosphere, and charlatans in general:

Levy:  He rain-made ya!  A guy says if you pay him, he can make it rain.  You pay him.  If and when it rains, he takes the credit.  If and when it doesn’t, he finds reasons for you to pay him more.  Clay Davis rain-made you.

I don’t think I’ve ever seen a 30 second clip that so perfectly describes the charlatan precious metals blogosphere.   I have, in the past, gone to significant lengths to help educate the minions of these fraudsters and charlatans, but the confirmation bias is so strong that it’s always an uphill battle.

They’ll repeat falsehoods to you about how $GLD (no positions) operates.   They’ll make up nonsense about the COMEX delivery process.   They’ll repeat errors daily until you don’t even question them anymore, and then rely on the confirmation bias to misquote their own nonsense as truth.    If they get lucky with a price call, they’ll take credit, but when the price action doesn’t go the way they want it to, well, you already know they’ll just blame The Cartel….

Don’t get rain-made…

Precious Metals Charlatans – Freaks of the Industry

Who Drives the Price of Gold?

Sources Call June 2014 The Worst Month In the History of Gold Manipulation

Greed + Confirmation Bias is a Disaster

You’re Absolutely Right

When Your PM Blogger Doesn’t Understand How ETFs Work

Debunking Misleading Silver Posts With Pure Fact

Facts: The Enemy of the Precious Metals Blogger

Precious Metals Charlatans Are Going To Destroy Your Net Worth

No, GLD Shares May Not Be Used to Settle COMEX Contracts

May Gold Manipulation In Pictures

As Details of Gold Manipulation Come To Light, Price Action Makes Sense

One Month of Gold Manipulation, In Pictures

Concrete Evidence of Gold Manipulation

Is Anyone Calling the Regulators About Today’s Blatant Gold Manipulation?

Are You a Goldbug?  A Simple Quiz – Part I

 

-KD

 

full clip is here

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