We live in a society where people increasingly believe that they can “identify” a certain way and thus it is true. This liberal shark jumping used to be called delusion and so it will again in the not too distant future. The delusion also extends to the investment world where The Herd has come to believe in the omnipotence and omniscience of the wizard of OzT (AKA the federal reserve).

The herd also believes that the stock market is an actual retirement savings program instead of a casino. They believe that everyone can put their money into the magical machine and then everyone can at some point take out more than they put in. This thinking ascribes properties of over-unity to the markets which are as ludicrous to economics as they are to believers in perpetual energy machines. The hope is that everyone can play the game and then receive back more than they put in. It has the same something for nothing allure as a Ponzi scheme and it is structurally not much different.

The stock market is gambling. Physical bullion in your possession is saving. Gambling is for liberals. Saving is for conservatives. Gambling is great when you are winning but after you retire do you really need to continue gambling, or should you just pick up your chips at the top and walk out of the casino with your bag of gold and silver bullion coins?