There is a writer we’ll call Don Quixote who is tilting at something that no longer really exists… the evil gold promoters that used to be taken seriously by innocents to the tune of near total destruction of their portfolios.
Don once went on about the gold cult and I even highlighted his post because I had been going about the gold cult as well. The cult-like aspect of the gold“community” (? a dead giveaway) was real, and the group-think that the 2001-2011 bull market fostered was very strong and reallydamaging to those who did not question it tenets until it was too late.
But here’s the thing… it is now 2015 and nobody takes gold bugs spewing about a $2,000 PoG (if there are any of them left) seriously. But still Don tilts at the active promoters he imagines around every corner. Methinks Don is creating a niche of his own, firmly within the new phenomenon that has manifested in Martin Armstrong’s wake. Behind Marty have come a growing number of those who would save us from the evil promoters.
Again, naming no names I’ll just say that I find it very curious that Don and at least one other entity negative on the gold promoters (“we won’t get fooled again”), along with Marty himself, had beenpromoted by poor cast out gold perma-bull Jim Sinclair in the past.
Speaking personally, while real analysis states that the gold sector’s fundamentals are not yet in line, cartoon analysis states that gold is bearish when “interest rates” rise. You see, cartoon analysis must – if it is going to achieve its goal of pulling the maximum number of readers, subscribers, customers, clients, etc. – be a connect-the-dots variety. As a friend told me when I began writing years ago “Gary, you’ve got to write at a 10th grade level; that’s the sweet spot for getting the most readers.”
Well, there is nothing simple about financial market analysis these days and Don’s railing against the gold promoters combined with a fixation on “interest rates” seems a bit cartoonish. Too many people obsess on “interest rates”, when it is interest rate relationships that matter most. But of course, this is beyond a 10th grade financial level.