Continuing our theme of encouraging readers to examine the motivation of every person posting a story, opinion, stock tip, etc., I now wish to turn your attention to the silver Blogosphere itself. The last twelve months have seen a proliferation of new sites, many of them strangely uniform in their die-hard bullishness towards the gray metal.
A consensus has been reached on these sites: a wicked banking cartel is intent on robbing average Joes of their hard-earned wealth through the alleged manipulation of ‘paper silver’, and this treasonous activity can be thwarted only by those same average Joes buying more and more physical silver. This consensus on silver blogs has now become so homogenous, so wide-spread, and so dogmatic in its own axiomatic truths, that dissent is often brutally crushed in online discussions. Anyone questioning the existence of such a conspiracy, or who dares to suggest that silver might fall in price, is typically flamed off the site. At the same time, some of these sites do seem to genuinely care about the interests of their readers, and are thrillingly passionate about their subject. What should we make of all this?
Here at the Screwtape Files we try to examine, scrutinise and assess the claims and motivations of all who purport to be bringing us the truth. To date, however, we have not really addressed or questioned the backgrounds and motivations of some of the most popular silver blogs on the net. Logically, we should do so if we are serious in our efforts to establish a full picture. In the next few days we will be turning our attention to this issue. You may find what you read shocking, or be totally nonplussed by it and find it irrelevant. Regardless, we feel that all of us who are PM investors are entitled to have a firm idea of what lies behind some of those who seek to lead the way.
The timing of all this is key. Following the S&P downgrade, and the close-run battle to raise the US debt ceiling, most readers of this blog will be scratching their heads this weekend, wondering whether Monday will bring a PM crash or a moon-shot. The silver blogs are ablaze again – for the first time since April. Even good old WB has made a reappearance. There are plenty online who would advise you during this difficult time; alas some of these sources upon which we have come to rely are far from straight about their own origins and motivations.
The Screwtape Files has taken the heavy decision to apply the same scrutiny to this area of the silver community as it does to every other. Regardless of whether you condemn us or applaud us, we cannot continue to privilege ‘sacred’ sources of disinformation over lower hanging fruit.
Let the chips fall where they may.JdA