Why do I get upset with many in the alt-financial media?
My brethren, be not many masters, knowing that we shall receive the greater condemnation.
James 3:1 (KJV)
God more strictly judges the teachers and pastors. Those who pose as an expert or an authority figure in any realm must be certain that they are qualified to teach.
James warns about taking on the title of “teacher,” and in this regard many who claim to be experts should not aspire to be labelled as one. Those who claim the mantle of a teacher will face stricter judgment or “will be judged with greater strictness.” The more one claims to know, the more accountable they are held for what they do with that knowledge.
Why is this? Contemplate a scenario where a person claims to be an expert in economics and finance, but is either unskilled and unaware of it or is disingenuous and attempting to manipulate the follower. What happens when the public follow his advice and lose a lot of money? How will this person be judged? According to James, these people are judged more strictly.
With this preface out of the way, I want to categorize the three types of people who dominate as the authorities in the alt-financial media:
- The unskilled who pose as teachers and dispense advice. Many of these individuals actually think they are skilled. However, a simple analysis can determine if someone has an objective mastery of the subject. If he or she continually makes wrong predictions, exhibits flawed logic, or demonstrates only rudimentary acumen, perhaps this person should find another line of work (or overcome his biases, which preclude him from reaching better results).
- The skilled or unskilled who are also good at selling something. These are the people with conflicts of interest. They pose as our allies, but are disingenuous in their teachings as they have something to upsell the follower. Some are gold or crypto shills, but many also are dependent on social media where they can ensnare the simple with monetized click bait articles and YouTube videos. These media are designed to cater to the fearful or ignorant. They may also have expensive services to sell you and need to convince you that they are vital to your financial well-being. The followers make the wrong financial decisions or spend large sums of money and end up living lives of poverty.
- The skilled who have nothing to gain, except to help out others while they can. They make no money from their advice and only hope that his or her readers/listeners can take the best course of action to make their lives easier. These people continually reassess their skill levels and make certain that they have attained a certain level of mastery. Their predictions and observations are more correct and they can relay it in a way that makes sense to the objective person.
I have been criticized in the past for my views with regards to many of the personalities in the alt-financial media. But understand, my conclusions are only based on their accuracy and track records. If they are continually incorrect, I believe that for the greater good of the remnant they need to pursue another line of work. This isn’t just for the benefit of those who lost money listening to them, but for their benefit at judgement.