The financial media runs on a protection racket, and you are the mark.
Peter Schiff has been predicting hyperinflation and dollar collapse every single year since 2009. Seventeen years. The dollar is still the world's reserve currency. Schiff still sells gold funds and books interviews on CNBC. Nobody fires the guy. Nobody even interrupts him.
This persists because bad forecasters carry no skin in the game. A surgeon who botches operations loses patients, then loses his license. A market pundit who botches calls loses nothing. He collects his appearance fee, pivots to "the collapse is coming, just delayed," and books his next podcast. Confidence is rewarded over accuracy.
Media platforms compound this by optimizing for engagement, not truth. A loud, dramatic prediction of imminent catastrophe generates clicks. A sober probability-weighted assessment of capital allocation generates yawns. Networks select for the wrong trait aggressively and repeatedly.
There is also what Nassim Taleb ironically calls the "no skin in the game" problem. When a commentator manages no real capital, faces no audit trail, and bears no fiduciary duty to anyone watching, accountability simply has nowhere to land. Ironically because he is one of the worst offenders in the space.
Sadly, audiences do not track prediction records. You watch a pundit in October 2026 and form impressions based on his current confidence, not his track record since 2019. He exploits your memory gap completely.
Demand a track record with dates. Every call, every outcome. Forecasters who survive that scrutiny deserve your attention. The rest are selling you certainty because certainty sells.
Here are people with excellent and honest track records to follow:
@LukeGromen@RonStoeferle@saifedean@LynAldenContact@ThomasEWoods@porterstansb@LawrenceLepard@TaviCosta@NickHudsonCT@CorySwan@SantiagoAuFund@MacleodFinance@profstonge
Who would you add? And who are your worst offenders?