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He's the problem I'm grappling with when it comes to r/WallstreetBets and all this information about market manipulation: When you believe that there are big ca

He's the problem I'm grappling with when it comes to r/WallstreetBets and all this information about market manipulation: When you believe that there are big cabals manipulating the market everything starts to look like some coordinated attack. Buy silver because they don't want you to! Or, don't buy silver because that's a distraction from the real manipulation! Who do you believe? I'm no stranger to conspiracy theories and my fear is that the WSB community is getting swept up in conspiratorial thinking. Sadly, with billions and billions of dollars at stake there probably is market manipulation happening, so the paranoid will feel vindicated when some manipulation is eventually discovered and acted upon - see the recent $GME situation. But there's going to be a massive false-positive rate on manipulation claims. I don't see things ending well for the average person getting swept up in this frenzy.

wayoutthere 6y ago
It’s because basically every piece of financial news about $GME over the last week has been absolutely bogus in retrospect. Finance is dirty as hell — you just don’t understand HOW dirty until you start playing for keeps.
pjc50 6y ago
Yup. All the people who were long conspiracy theories up to Jan 6th have exited that market and are now spilling over looking for something to get involved in. This includes the over-excitable news coverage. I note in passing that silver/gold marketing has a long history of association with the alt-right. There's always someone telling you to buy silver for the apocalypse.
- benjohnson 6y ago
  >>alt-right Being conservative about money is hallmark of long-term thinkers that understand that history repeats. It is also shared by (typically immigrant) families that have had experience of failing central banks.
__MatrixMan__ 6y ago
Y'all are gonna think I'm crazy, but... > When you believe that there are big cabals manipulating the market everything starts to look like some coordinated attack. ...what if everything is a coordinated attack? Once upon a time, Caesar used violence to inflate the price of "caesar-face gold" above that of actual gold, and we've been playing that game ever since. I think that the problems are baked in at a really deep level and we're just talking about it now because the wrong type of people are trying to play the same old game. It's like the crazy guy on the streetcorner was the first one to start saying "We've always been at war with Eastasia" and now The Ministry of Truth doesn't know what to do.
aww_dang 6y ago
The typical gold/silver price suppression conspiracy runs something like: "The Federal Reserve uses bullion banks to run naked shorts..." There are various figures promoting these ideas. I appreciate why central banks would want to suppress the price of precious metals, but that isn't the same as believing it is happening. That said, silver has run up to around $50 before. Consumers could do worse than picking up a few silver bars or rounds. I don't see this as risky as buying GME at $400 or BTC at $30k-$40k. Governments have stimulated trillions in 2020. 2021 is looking to be similar. The conspiracy stuff can be interesting if you are into that kind of thing. Although you don't need to accept those narratives to appreciate precious metals.

wayoutthere 6y ago

It’s because basically every piece of financial news about $GME over the last week has been absolutely bogus in retrospect. Finance is dirty as hell — you just don’t understand HOW dirty until you start playing for keeps.

pjc50 6y ago

Yup. All the people who were long conspiracy theories up to Jan 6th have exited that market and are now spilling over looking for something to get involved in. This includes the over-excitable news coverage. I note in passing that silver/gold marketing has a long history of association with the alt-right. There's always someone telling you to buy silver for the apocalypse.

benjohnson 6y ago
>>alt-right Being conservative about money is hallmark of long-term thinkers that understand that history repeats. It is also shared by (typically immigrant) families that have had experience of failing central banks.

__MatrixMan__ 6y ago

Y'all are gonna think I'm crazy, but... > When you believe that there are big cabals manipulating the market everything starts to look like some coordinated attack. ...what if everything is a coordinated attack? Once upon a time, Caesar used violence to inflate the price of "caesar-face gold" above that of actual gold, and we've been playing that game ever since. I think that the problems are baked in at a really deep level and we're just talking about it now because the wrong type of people are trying to play the same old game. It's like the crazy guy on the streetcorner was the first one to start saying "We've always been at war with Eastasia" and now The Ministry of Truth doesn't know what to do.

aww_dang 6y ago

The typical gold/silver price suppression conspiracy runs something like: "The Federal Reserve uses bullion banks to run naked shorts..." There are various figures promoting these ideas. I appreciate why central banks would want to suppress the price of precious metals, but that isn't the same as believing it is happening. That said, silver has run up to around $50 before. Consumers could do worse than picking up a few silver bars or rounds. I don't see this as risky as buying GME at $400 or BTC at $30k-$40k. Governments have stimulated trillions in 2020. 2021 is looking to be similar. The conspiracy stuff can be interesting if you are into that kind of thing. Although you don't need to accept those narratives to appreciate precious metals.