Goldbugs Push Back

 

“Never try to teach a pig to sing- it wastes your time and annoys the pig.” – Robert A. Heinlein, The Notebooks of Lazarus Long

 

Whenever I write about Gold, the pushback is always robust. Yesterday’s column How Low Can Gold Go? was no different. As a public service, I thought I would address the feedback, criticisms and complaints amongst the many emails and comments I received.

Some of the commentary was worthwhile discussions related to investing in general and precious metals in particular. These insightful souls seem to always generate inspiring food for thought. Their comments help me clarify my thinking on trading and commodities.

Unfortunately, those folks are the exception. The bulk of the pushback comes from people who have been long and wrong, and refuse to hear from any source suggesting they are on a bas trade. The attitude seemed to be along the lines of “Who are you going to believe, me or my lying P&L? Quite an astonishing collection of denial

Before we continue, one quick note to commenters: It is astonishingly easy to tell when a commenter did not read the column and is merely responding to the headline, which is typically written by an editor. Believe me, after 30,000 blog posts, you can tell at a glance which comments had nothing whatsoever to do with your column.

Note original comments/emails are in italics, and my comments follow:

On to the pushback:

 

Continues here

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