Colin Kaepernick had a very good 2013 season with the San Francisco 49ers. It’s been tough to miss him through the news cycle since. Kaepernick rightfully latched onto the civil rights issue associated with the Rodney King incident and other precursors galvanizing support toward the Black Lives Matter movement. Unfortunately, he decided to use his celebrity as a football player on the sports field as a means for showing his support for the cause while connecting the matter with disloyalty toward his country. He got black balled and he should have seen that coming. You see, employers in a free capitalist society have the right to hire based on their variables deemed important for success. Disloyalty toward country makes a character statement and potentially correlates with potential behaviour when it comes to “team interest”. When the going gets tough, are you going to fold up tent or fight within the means available to you under a constitution? He chose to whimper in the easiest form of protest conveniently available to him. I wish him well. He seems sharp and I suspect he will be able to translate his sporting competitiveness into another avenue of success.
Is Canada corrupt? You go to work every day and pay your taxes. Your taxes are intended to provide services which benefit the public good. Naturally, human resources are required to administer such services. Your government also assesses your country’s standing in the world and maintains relationship with other nations in the context of preserving freedom and quality of life for citizens.
Then we have a system of commerce which operates under the guise of “capitalism”. In a capitalist system, small businesses and large businesses operate with particular reasonable regulations relevant to their industries and such regulations are imposed also in the context of the “public good”. An inherent trait associated with “free enterprise” is the right of business to “fail” due to whatever underlying factors are confronted. It is not the business of governments to pick and choose winners and losers through political bias, personal relationships, or preferential treatment due to the geographic jurisdiction of stakeholders. If such a landscape was permitted to exist, free enterprise would lose its appeal as a viable commercial system to engage with freewill unencumbered by systemic bias.
Today, as learned through an ethics report – your country has failed you because in spite of you playing by the rules, you’ve come to learned that your federal government has a interfered in the legal process of a defendant charged with improprieties in the name of “picking winning and losers” in the capitalist system. One must ask, as a nation, are we any different from third world countries which make ever day habits of conducting affairs on such terms?
Yamana Gold, $ 1.92 USD to $2.55 USD for a 32 per cent move
Eldorado Gold (EGO), $ 4.11 USD to $6.22 USD for a 51 per cent move
New Gold (NGD) went from $0.72 CAD to $0.94 CAD for a 30 per cent move
Detour Gold (DGG) went from $13.25 CAD to $16.58 CAD – 25 per cent
McEwen Mining (MUX) went from 1.39 CAD to $1.82 CAD for a 30 per cent change
Argonaut Gold (AR) went from 1.71 CAD to 1.84 CAD for 7 per cent
Royal Nickel (RNX) – yes a gold company went from $0.50 CAD to $0.64 moving 28 per cent
….and how much did the price of gold change from Jun 11, 2019 to July 3, 2019? Well, 9.6 per cent.
As you can see, a premium has been offered to companies with moderate market caps compared to the majors. Risk capital would have been well served with positions here.
- Hyperinflation rate so astronomical you won’t believe it
- Water shortage
- Food shortage
- Civil strife
- Rolling black outs
- Russia installs military presence taking sides with Nicolas Maduro
- U.S. contemplates aid and incidentally has sided with declared President Juan Guaido
- Journalists arrested
- Socialist policy since Chavez leaderships in 1999
If you eliminate incentives for business to produce goods and services, they will stop. If you pay people not to produce, they will not produce. If you do not sanction poor behavior, people will continue to behave badly. If you overregulate the ambitious, they will turn elsewhere for a market. If you condone corruption, you will get more of it. If you sense injustice and fail to acknowledge it, you will subscribe to the status quo. If you witness crime and fail to report it, you are complicit. If your leadership is ambivalent toward justice, your society is regressing.
Here we go again with government “investments” in business with a $100 million nest egg courtesy of you the taxpayer for new technologies (artificial intelligence) which apparently is such a sought after space that the private sector isn’t interested.
This is what’s happening. Very poor decisions were made regarding the construction of new office towers in the downtown core of Calgary leading to a 30 per cent vacancy. Obstructionist policy from governments in the oil and gas sector has impeded business from expanding into these new commercial spaces. Now, you the taxpayer are going to pay the price for “malinvestment”. That’s right. Governments have historically been poor investors because politicians don’t personally have any skin in the game. Politicians cater to special interest groups and are amenable to influence from effective lobbyists.
When was the last time your government presented you with a performance statement in lieu of a benefit to you arising from their investment decisions in the private sector? You guessed it – never. There is no accountability.
The unremarkable thing about “capitalism” is that people and businesses fail because of poor investment decisions. The backdrop of a failure potential has the effect of scrutinizing capital carefully for its most efficient deployment.
This decision made by bureaucrats with your money is not sound but there is desperation in the corridors of governments because pension funds with equity interests in Alberta office towers are clamouring.
It’s been a contentious issue over fifteen years in the investment community. Are precious metals markets rigged? If you’ve never heard of GATA (Gold Anti-Trust Action Committee) I suppose it’s about time they get some credit for quiet behind the scenes research into irregular trading patterns of precious metals on the COMEX and LME. GATA has in fact appeared before U.S. law makers on the topic of market rigging during the period in which this alleged illicit trading was conducted. Did the U.S. government significantly digest claims made by GATA through GATA’s research? How could the U.S. Senate draft a 396 page report entitled “Wall Street Bank Involvement with Physical Commodities” having not discovered any of these trades though which allegedly number in the “thousands”.
The news….JP Morgan appears (a plea at minimum so far) to be guilty of conducting illicit futures trades in precious metals as reported by CNBC on December 13, 2018 and in fact there is a reference in the article to the trades by an employee of the firm as being conducted with the consent and direct knowledge of his immediate supervisors. A class action law suit is underway representing those who traded the futures precious metals markets between 2009 and 2015.
Chris Powell of GATA speculates in his December 18, 2018 article whether gold mining companies who have reason to trade futures in order to hedge production will participate. Mr. Powell goes on to elaborate why the gold mining industry has been reluctant to postulate about market rigging. Austrian economists could expound greatly on motives for the suppression of the gold price.
Not surprisingly, we’ve seen the gold price rise to a six month high today. The big question will become…how far up the chain of command will we discover complicity in the conduct of this bank employee? w
Having just about put a wrap on a very good book this weekend in the personal development genre, I reflect on experiences and relationships all while laying down a new guitar riff. I have things in the office to do on this beautiful summer weekend but the philosopher in me has taken over.
I took up Dean Graziosi on his offer to attend a free seminar and get a meal and book on him. I enjoy seminars as a way of gauging my mindset in the context of others who have achieved successes and wish to share while prepared for “the catch”. Typically, presenters deliver on their word as has Dean.
I’ve yet to gain a full understanding of the man’s history but I certainly do appreciate his sincerity in his book, “Millionaire Success Habits”. What I do know is that he put real estate to work and applied Tony Robbins’ principles in acquiring results. While others were challenged by the no doc mortgage debacle and economic pessimism in 2009, Dean apparently snapped up properties.
My message today surrounds the power of the pragmatic mind developed through failure and the social acclimatization toward risk avoidance. Frankly, the attendance of a seminar pertaining to wealth related concepts in Canadian society is mostly viewed as gullible or naive as opposed to entrepreneurially provocative. The propensity to defer to a messenger’s motive syncs with the suspicion entrenched within a society’s affinity toward liberalism.
You know that folks seek solace in the shortcomings of others. You hear it at work and you see it in headlines littered through websites encouraging your clicks. Marketers even target your need to be soothed. There is a cultural aberration at play which must be called out and identified in your mind in order for the full force of your individualism to be actualized. I’m talking about the influence of this phenomenon in your mind as young as preschool. Negativity abounds and you are better equipped to handle it when you become attuned to its source.
Oh ya…the book, “Millionaire Success Habits” by Dean Graaziosi.
Now Wholesale Sports is closing down. They needed to build nice pretty looking stores when blocks of strip mall space lay vacant. They needed to carry excessive inventory with an extravagant in store merchandising effort and little public promotion. I think retailers in Western Canada need to rethink the way they do business before Amazon sucks up the whole space and governments better get on board with business before urban centres become boarded up black holes.
As I write this, the Marlborough mall in North East Calgary has no less than six closed retailers in the one wing which used to host Sears. Part of the blame must go to the mall for failing to exercise flexibility in a newer retail environment. Given what merchants are paying for mall space, it seems obvious that the only companies that can make it work are the well financed large establishments which can cross fund from multiple geographic outlets.
Amazon is a success story. I use them and they’ve never let me down. In fact, cities across North America as we speak are clamouring for the opportunity to be chosen as Amazon’s “second headquarters”. What is to become of strip malls and shopping malls if a business friendly environment is not provided to bricks and mortar retail establishments across Canada? Perhaps, they should be shuttered? Perhaps, there’s a social kind of slant on “going to the mall” which we want to uphold? I don’t think I really know the answer for sure but it seems that the destruction of malls in favour of an alternate use may be net negative in terms of economic utility.
There appears to be some sorrow among the laid off Sears employees who “feel” betrayed by a company in trouble. I have news for all employees. You have a “job” and you serve at the pleasure of your employer. By pure definition, if you decide to take a “job” you are giving up some of your autonomy. If you should so choose to have a portion of your pay handled by a private pension plan, what gives you the right to think that there is no “risk” in having a third party manage those funds or to think that the company will be financially fit to make ongoing company contributions on your behalf? In socialized Canada we are fed this line that you are marginalized if “self employed”. I have news for those who believe that your company will be there for you. You are one bad relationship or two bad performance reviews from the exit sign and if you think you have “job security” think again in the context of a financial system teetering on the brink. If you worked at Sears and have witnessed a steady decline in retail traffic over a period of years, you should have taken a look at the competition or at the least upgraded in the evening with some career changing course work. Now is not the time to be looking to a bankruptcy trustee for answers or the CBC for sympathy. There is nothing more defeatist and sad than the state of a workplace in decline with hangers on sinking with the ship believing that the company will throw a life vest last minute in the form of a “severance”.
While your CRA is charging you arrears interest, instalment interest and an egregious personal income tax rate at the same time that you may be managing debt associated with growing your small private business undertaken by earnest capitalist passion, your government is charging zero interest to Bombardier for a $372.5 million dollar loan repayable over 15 years of which no payment is due during the first two years. This is capitalism in Canada folks. Lobbying corporate directors of Bombardier with operations in a politically sensitive part of Canada (Quebec) are so proud of their product that they can’t seem to find investment capital outside of their government and hence you as the taxpayer now will bear the risk with an apparent zero rate of return on the prospect a success. There’s something not right here. Does our government not believe in capital markets in a capitalist system? Does it not believe that investment wealth follows good news stories from companies’ aspirant to match their innovative products with financiers? Does our government think that our first world country lacks pools of available capital? Or, perhaps, it’s about politics and our government believes you are naive or too self involved to take issue.