QUESTION:
Mr, Armstrong.
I visited New York on business and after the market closed yesterday we went to a bar. I was shocked when the group at the next table of Wall Streeters were talking about you. The consensus was you were probably the greatest analyst that ever existed and how Bloomberg News will never quote you because you tell the truth about their clients the bankers. Yet they said everyone reads you. They said China does whatever you say and stopped buying bonds from the New York bankers within a matter of days of you writing advising that everyone should refuse to buy bonds from them. They said you were the only analyst who said gold peaked and would decline and how not a single newspaper will report you were right. Why does there seem to be this attribution of manipulating the world attached to you? I heard it first hand. If anyone did not read you, they said they were a fool and the New York Press has done everything possible to try to discourage people from reading you.
Curious
RM
ANSWER: People judge others by themselves. It was the CFTC that originally accused me of manipulating the world and put it in a subpoena demanding all our offices around the world give them a list of all our clients so they could prove we manipulated the entire world economy. We won in court telling the judge that was absurd and suitable for the plot in some James Bond movie. But the more you refuse to cooperate and just hand-over client names, they more they think you are hiding something rather than defending a principle.
The CFTC saw I ran around the globe and our audiences were about 25,000 annually. They then attributed that if I said gold would rise say 10% next year and it did, then the reason was simply that all 25,000 people ran out and did as I said and therefore I circumvented their trading limits of say 5,000 ounces of gold because I was “indirectly” controlling the market. This theory caught on and morphed into one of just influence. Because they publish nonsense and every move a market makes they attempt to attribute a reason, then their idea is that “influence” can make the trend since that is what the Investment Banks and government both try to do. That is so wrong because if I came out and said buy gold, there might be a brief blip, but nobody can change a trend. The Japanese government tried to support the market and lost more than $1 trillion. You can create blips, but nobody can turn a bear market into a bull market with just words.
These people live in a primitive world where witch-doctors still chant and are never wrong. If he bleeds you because he thinks there is a poison in your blood and he takes too much, that cannot be the reason you died, it must be that he did not bleed you soon enough. We live in a very primitive state of economic theory. They would rather blame me for having too much influence than to listen to what I am saying.
I became friends with Milton Friedman because he saw what I was doing objectively and said I had a front row seat no one else had. I could see how the world functioned NOT because of influence, but because of OBSERVATION. These people treat me as if I were a doctor, told you that you have some fatal disease, and you will be dead in 30 days. They then accuse me or murder because you would not have died except for the fact I said you would. This is the mindset of these people and there is no explaining they live in a state of assuming the world is still flat. It will take my death before these types of people at last will dispassionately review what I have been saying based upon OBSERVATION.
The goldbugs loved me when I said gold was rising. When I said we had a 2 to 3 year decline, they then act the same way. They REFUSE to quote me assuming like the CFTC gold declined ONLY because I said so. They are as intellectually honest as government – no different. They think the same way. Shut me up and gold will rise. They live in a fake world where they think if the keep screaming gold will rise perpetually. They then create perpetual enemies arguing there is some systemic plot to keep gold down when a simple correlation study shows gold has risen on par with commodities in proportional basket basis. Gold CANNOT rally until the dollar rally is over. Look around – everything is connected and the world is far from flat.
(1) Pull back the curtain and look at how the bankers control government and are destroying civilization all because they are addicted to trading with other people;s money pocketing the profits and handing losses to politicians to pay for.
(2) Having clients around the world molded and beat me into the shape and form I am today. It forced me to see the world through everyone’s eyes realizing that Adam Smith was correct – we all act only in our self-interest. We are one giant economy and the sooner we recognize that, the sooner we will have economic freedom and personal liberty restored. No single government can manipulate even its domestic economy. STOP the socialist intervention and allow the people to create their own future rather than attempt to orchestrate it to meet your dreams.
