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…

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Are You a Goldbug?  A Simple Quiz – Part I




full clip is here

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