The other day this humble corner of cyberspace ran a parsing of the ridiculous Olivier Garret of Casey Research and Gary Tanashian over at his place was kind enough to link to it, thus bringing extra eyeballs this way. It’s time to return the favour because today Gary eviscerates a dumbass with a chip on his shoulder about goldbugs.
You really need to see this Biiwii post because for every idiot goldbug there’s an idiot anti-goldbug (law of physics?), a group to which the ironically named Howard Gold, cap mkts word-spewer at MarketWatch, most definitely belongs. An excerpt:
Gary Tanashian: What big improvement? Look, I know you sell newsletters with a premise of long America with a side of anti gold bug rants, but what big improvement, the one in your own mind? Sorry, but we live in the real world, not in your mind.
Global capital is magnetized to the US because the reserve currency, the US dollar is the beneficiary of a cessation of QE as other nations are just ramping up similar operations. It’s a cyclical thing Howard. There is no big improvement in the Federal debt; you yourself just said so. There is an improvement in the budget deficit, not the Federal debt. WTF are you talking about?
Go see it all here. Because when push comes to shove IKN is not anti-goldbug at all. It’s not anti-silverbug either (though appearances may sometimes deceive on that one). IKN is anti-dumbass-spouting, is anti being forced to listen to people who have not the first clue about gold, silver, metals, whatever. We round these parts are bored with liars, thieves and snake-oil salespeople and sadly, nature of the beast and that, gold and silver and suchlike tends to attract them like flies but scrape away the crud and there are smart, reasoned arguments to be found pro and contra gold etc. Gary is the goldbug that the real anti-gold brigade need to address, the smart and intelligent goldbug, but they don’t because they prefer to pick their easy targets. My stars, there are enough of them around.