Marc Faber, Freedom of Speech & Capitalism
Nevsun Resources (NSU), etc.
What would the world be like today had Europeans never colonized Americas, Africa, the Middle East, Australia, New Zealand, and South Asia?
Most of these societies would still not have discovered the wheel. Among outsiders who travel there, it takes a huge amount of reality-avoidance and ineptitude not to realize that a billion or more people in the Third World still haven’t discovered the wheel. There is absolutely no evidence to suggest that the Third World would have independently found, discovered, or invented even a fraction—if at all any—of the sciences and technologies that exist today.
Without Europeans, lives in what were colonized countries would have been much shorter, and brutish. They would have had nothing like the concept of the rule of law.
After the end of the World War II, countries in the Third World started to become so-called independent. Among the largest waves of immigration of Indians to the UK happened soon after the British started to decolonize. Locals those days knew that once the British had left, India and Africa would enter a phase of chaos. After almost 70 years, this chaos shows no sign of going away. It is getting worse.
With time, institutions of the Third World have continued to deteriorate, degrade and fall apart. The level of immorality in social and political affairs in these countries is such that most western travelers simply do not have the background to properly comprehend what they experience. As I explore in the linked article, the only hope for these countries from reverting back to their precolonial, medieval existence is for Europeans to return and manage the Third World.
The irony is that the international media and global organizations—CNBC, Bloomberg, the World Bank, and the IMF—cry with optimism when they talk about the polluted, backward, superstitious and tribal societies of the Third World.
One might ask why the international media and global organizations have a viewpoint about the Third World that is so completely contrary to the reality. The reason is extremely simple. A culture of political correctness pervades these organizations. Anyone who does not go along is considered a bigot and is immediately fired.
Marc Faber in his newsletter recently wrote that the USA was lucky to have been populated by people from Europe. This is a no-brainer. But, of course, given the culture of political correctness, he had to step down from his Directorships at Sprott, Ivanhoe Mines and NovaGold Resources.
I wished these organizations had supported him and encouraged freedom of speech, particularly when today people of color in the USA have a free license to be bigots, to accuse ethnically European people for all kinds of real or imagined crimes.
For me what Marc Faber wrote is of such huge importance that it is criminal to ignore it.
As a corollary, the failure to understand the cultural issues means that the West is bringing in too many people with irrational, tribal mindsets, destroying the West.
On investments…
- Nevsun Resources (NSU; C$2.93): In a few days, I will be visiting their project in Serbia. As I wrote earlier, I am happy to accumulate if it falls to C$2.60 or lower.
- Cobaltech Mining (CSK; C$0.15): CSK is going through a process of being acquired. Given low liquidity, it keeps falling to C$0.13. Unfortunately, I don’t know the management, but often a nice arbitrage emerges.
- Legend Gold (LGN; C$0.35): This is another arbitrage opportunity, although I would wait for LGN to weaken before buying–the merger process will likely be long and boring, something that should give me an opportunity to accumulate.
- FPX Nickel (FPX; C$0.09): They recently released results from three holes. The higher grades and shallowness of these holes show that this extension of the resource body will have a significant positive effect on the economics. In my view, the share price should have gone up. It actually fell. These are moments of truth. Is there something wrong that I don’t know about–the unknown unknowns? Or is it that the market has failed to understand the value of the results? I am betting on the latter and bought a significant part of the shares that came into the market last week.
On 2nd November 2017, I will be speaking at a dinner event organized by MiningScout in Munich (Germany).
Warm regards,
Jayant Bhandari
Associate: Rajni Bala
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