I then stopped reading.
Why continue? Emotion and inflammatory terminology had already set the course for this piece, and that course is to my ears, rationalization for another loss incurred by Team Goldbug. Are there crooks in high places manipulating a pathetically bankrupt and inflated system, which disenfranchises some and enriches others? Well... yeh, there are. It is what it is and it is what it has been for many years now.
But what is our primary job as 'market participants'? Is it to stick to our convictions because we are the knowers of truth and the doers of good? Is it our job to ride out our convictions come evil 'bankster' hell or high water? Is it our job to be ever more angry as the process of trying to tame the evil Wall Street Empire plays out over years and years?
Hey, if that's what you're into then good luck to you. These articles and this type of 'analysis' can read like a good horror or mystery novel. The reader's eyes open wide and gut full of bile. I guess they are very popular and probably getting more so as unsophisticated players seek refuge in the words of anyone willing to tell them the 'truth' about why they have fallen behind and why things are just so screwed up.
The truth shall set you free; and if you lever it up, make you broke.
It is really quite a contrast to the inanity-spouting media robots I sometimes have fun with here on the blog.
I have to believe that many people just do not know how to manage risk while at the same time staying the course. I choose to be in a position to capitalize on the absurd dynamics of this mess over time and at appropriate times. I have believed the system is rotten for many more years than I have been involved in the financial markets. But again, what does holding such beliefs have to do with sacrificing oneself financially to the whims of the 'evil banksters'? Screw them.
It is really all so unspectacular, but this blog continues to just advise readers 'tune out' the noise, while retaining all due intelligence, thoughtfulness and diligence. This is Wonderland, and there are rules for survival. Number 1 among them is "do not be overly emotional if you wish to succeed".
Additional disclosure: No positions mentioned in this post.