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Saturday, June 28, 2014

The Age of Envy- The Sunday Collage

It was kind of a strange week around here.

We had one of the worst GDP reports of the last decade and our Federal Reserve's stock market hardly took notice. Our markets are so distorted and zombified that they don't even pretend to respond to economic stimuli anymore. Only money printing.  

Gold mining stocks, after years of getting their asses kicked, are starting to rise. A gal I hardly know and that was some years ago, called me this week wanting to know where I would park a large sum of money. I told her my money was parked in a gold stock with options (Pretium Resources, PVG) and gold and silver bullion. Pretium has about 7.5 million ounces of gold and about five times that in silver. It is a huge, proven deposit with excellent management and instead of trading at 15-20 bucks where it should be, it trades at 8 bucks. It's almost a certainty that one of the giant miners with dwindling reserves is going to come after Pretium and I think that will happen soon.

I once had a guy tell me when speculating on real estate- figure out where everyone wants to live and then make sure you get there first. I apply that logic to all of my investments.

My "little" brother turned 40 this week and satisfied a bucket list item by playing in a World Series of Poker event. He is getting married in a couple of weeks and this is bringing about an interesting family reunion. Some old family animosities will be present as well as relatives I have never met. I am looking forward to this.

Each week during my travels, I try to remember those things that attract my attention- things worthy of writing about. Several days ago, Hillary Clinton's pronouncement that the Clintons left the White House dead broke- was probably the most ridiculous statement I heard all week.(With the possible exception of that IRS official who claimed the IRS lost Lois Lerner's emails.) Not only have the Clintons' made 100's of millions in dubious fashion, but Bill and Hillary were able to scrape up a million dollar down payment to buy a NY residence so that Hillary could carpet bag the Senate.They were also able to buy a couple other properties- one in the Hamptons- and provide daughter Chelsea with a 5 million dollar wedding. Chelsea's New York apartment cost 11 million. Who knows how that was financed. Maybe Chelsea is ringing up the register trading cattle futures like her mother.

What motivates Hillary Clinton to speak about her financial woes does not interest me in any significant way. Yet,  I find her fascinating. What does interest me is a phenomenon I have been witnessing for the last 20 years. To call it a blend of entitlement and greed is too simplistic.

Now stop and think about this. You are one of the luckiest and richest human beings on the planet. You have won life's lottery. You have had the best education.You have lived in the Governor's mansion, the White House, and you have dined with royalty- literally flown all over the world. Your husband has made 115 million in speaking engagements since 2001- not to mention all of the other income sources- like charging taxpayers rent to house Secret Service agents on your property or the cushy jobs you and your daughter have had like carpet bagging the senator gig in New York. The two taxpayer funded retirements with health benefits that you both enjoy probably seems like small potatoes. You have immediate access to any event in the world. You have your very own entourage of tax payer funded security and multiple homes including one with a pool in the Hamptons.

Hillary Clinton is stricken with the same disease that afflicts many people in this country. Complete and utter unconsciousness coupled with extreme self centered-ness, an enormous sense of entitlement, an absolute lack of gratitude for receiving the best gifts available to anyone on the planet and the callousness of a human being that could let people die in Benghazi without lifting a finger or even uttering an apology. Hillary Clinton is a sociopath and a monster. She is a terrible human being. But that's not what I want to focus on here.

The incessant wanting of our culture has almost bred gratitude out of our societal DNA. We think we are entitled to whatever we desire and when we want something- we think we should have it now. We throw pity parties and tantrums when we don't get what we want. We become spiritually sick.

This incessant wanting causes resentments as we perceive others to be the proximate cause when we don't get what we want. We never find fault with ourselves.

Years ago, we had a young police officer eligible for a promotion. He was clearly the best choice in terms of job performance. However he was so immature at that time that I simply could not see him in a leadership position nor can you really explain that to someone like him without having a confrontation. I think the timing was just bad. So when he discovered he was not being promoted he threw an angry fit and tossed a few chairs around thus validating my immature opinion of him. That was the first time I witnessed a sense of entitlement in full bloom.

In America right now, there is this sense that the enemy is anybody who has achieved something that we covet. We envy others. We envy their education and money, their homes and second homes, (Romney has 5) their motorcycles and cars, their jobs, and their trophy wives with nice boob jobs. This sickness manifests itself in many ways but I think the pentultimate example of it is someone like Hillary Clinton. Completely self absorbed and unconsciousness. Unaware of how the world sees her. I can't find a lot of pity or sympathy for Hillary Clinton- there are so many people, kids dying of cancer- that are never going to get the lottery ticket that Hillary picked up. She woke up on third base and probably thinks she hit the triple.

The solution for all of that madness of course- is a sense of gratitude for all of the things I already possess. Reasonably good health, a good education, a decent retirement income. My family are all reasonably healthy and alive. I have my little bungalow, the Elantra, Elvis the Roadking, my part time job, and freedom to do just about anything I want when I want it. Hell, I retired at 46. Who can do that? Right now, I've got the dream trip.

So I'm pretty grateful. I don't covet bigger houses or any of that bullshit that seems to drive most of our culture. I understand how lucky I have been to have been born to my parents in this country. I didn't select those circumstances and I am well aware of the billions of people who unlike me- did not win the birth lottery or land in countries as great as the U.S. once was.

I got lucky. There is a real sense of humility in realizing that you and your big ego really had nothing to do with the environmental circumstances that lead up to your successes. There are a lot of people who could use that lesson.

Happiness occurs when you accept that life is not fair nor was it ever meant to be. Real happiness occurs when you quit comparing your insides to someone else's outsides. I often wonder why it took me so damn long to figure all of this out and then I think, " Well, just be grateful that you did." I mean it could have been far worse. I could have been born Hillary Clinton. Now that would have been some bad luck.


Captain Bob said...

Can I ask how you decide on which mining shares to invest in? Like you, I am interested in purchasing some mining shares since they are relatively cheap (I do think they will go lower a bit more though in the next 12mths) but there are literally thousands of these things to choose from and MANY will go bankrupt (for various reasons).

Any suggestions please?

Falcon said...

This story is why I keep coming back to Frankenstein Government. As you grow older (60) you realize more and more how lucky you are to have drawn the lottery ticket to live here in the USA and to flourish on your own terms-something I hope future generations will be able to do without government intervention..........

Brian said...

Thanks Falcon.

Brian said...

Makin it Happen Capn...

There is a very good blog here about all things miners. dave in Denver writes it and he used to carry my blog but for reasons having to do with professionalism, he has deleted me. I always like his commentary. Unfortunately Dave is now charging people for research reports. I suspect that is why he left the Golden Truth blogger format for his new Wordpress blog.

The company, Pretium, was found by my uncle. It has its own website, Pretium Resources.

Buying gold miners is notoriously tricky. They are some of the greatest scammers there ever was. In my case, I have a brokerage account with a list of 100 or so miners. The fully developed senior miners are all in pretty sad shape with dwindling reserves. There are several junior miners who have provable reserves but none better or brighter than Pretium in my opinion. I put my list of miners together over 2 years ago and I am still adding new ones. I only buy miners with provable reserves, in areas of the world where permitting is possible and perhaps fast. Canada is one of those countries.

Gary said...

Would you mind if I reprinted this on my Blog with your byline??? You did a excellent job.

Brian said...

No of course not. Thanks Gary.

Compleat Patriot said...

I don't know why but you made me think of theological materialistic evolutionism with an esoteric intellectual twist,

Captain Bob said...

Thanks Brian! Would you mind sharing the miners you have invested in? I have been considering subscribing to this website: I have read Dons book and it is excellent. His website looks amazing. What fo you thing?

Having said all this, isn't it just better to buy some more bullion that shares??

Compleat Patriot said...

By the way Brian, you're telling me you're holding paper rather than having physical possession. And waiting for a boom. They're going to keep suppressing the value of metals in comparison to fiat. Its not in their best interest to lose control of the metals whereupon those of us trading in metals or holders of metals suddenly have the good fortune of buying out a mortgage. Not going to happen. They will let you think so only. If this thing goes tits up how will you take possession? If there are bank runs they'll lock everything down tight. And if you read their 400 page contractual agreements for holders of their accounts Brian, not your account, while your gold or fiat is in their possession they own it and you do not. And its all legal dude. You're playing a dangerous game.

Brian said...

I have a considerable amount of metal and you are correct- it is at the credit union in a box. I don't like the idea of storing it at home and I've seriously considered alternatives.The problem of course is that the alternatives are even less safe than the credit union.

We even have precedent. We have 1933, 2008, we have Cyprus, and we have MF Global. So we know bankers can and will steal- and get away with it. Not to mention their government cronies. I have even thought of taking it to Canada. I just don't like the idea of storing it here.

Lastly, I view my paper investments as gambling. I use fiat gains to purchase bullion, guns, and ammo. I try to explain to people that my actual bullion will never be for sale- so I do not care about the weekly, monthly, or yearly fiat prices- except when purchasing more bullion. The bankers have been so successful in pricing bullion against fiat asswipe that most people can't understand that bullion has no equal- there is no price discovery because bankers can simply counterfeit the paper used to purchase it. Very often, I love to walk in the coin stores and ask if they are still selling precious metals for worthless banknotes and then I always shake my head and tell them that there are suckers born every minute.

Brian said...

Ok Bob. I am currently only invested in bullion and PVG. Here is a giant list of miners- stock symbols- from my screener tool. It is just too lengthy a process to write them down or look each company up. I have invested in any number of them including pslv and phys. I am going to try and paste the list here.

Alerts Symbol Bid[tick] Ask Price $ Chg % Chg Prev
Close Open Volume Action
Manage AAU $1.11[-] $1.96 $1.36 -0.02 -1.45% $1.38 $1.40 156,005 Trade
Manage SLVP $10.92[-] $14.02 $12.518 -0.102 -0.81% $12.62 $12.49 7,688 Trade
Manage GLD $126.30[-] $126.76 $126.66 -0.07 -0.06% $126.73 $126.88 4,200,393 Trade
Manage LODE $0.80[-] $2.05 $1.71 0.03 1.79% $1.68 $1.66 75,634 Trade
Manage NSRPF $1.26[+] $1.30 $1.292 -0.025 -1.9% $1.317 $1.268 27,270 Trade
Manage MNRLF $0.05[-] $0.06 $0.04 0 0% $0.04 $0.00 5,000 Trade
Manage GG $27.44[-] $28.00 $27.62 0 0% $27.62 $27.73 3,782,559 Trade
Manage AEM $37.30[-] $37.80 $37.63 0.35 0.94% $37.28 $37.37 1,237,870 Trade
Manage HL $3.33[-] $3.38 $3.38 -0.04 -1.17% $3.42 $3.40 8,393,323 Trade
Manage RPMGF $0.17[-] $0.193 $0.18 -0.0084 -4.46% $0.1884 $0.1701 20,800 Trade
Manage RGLD $73.10[-] $75.20 $74.77 0.73 0.99% $74.04 $74.46 866,756 Trade
Manage ORZCF $0.773[-] $0.803 $0.7943 0.0534 7.21% $0.7409 $0.8195 5,300 Trade
Manage SA $9.04[-] $9.82 $9.17 -0.1 -1.08% $9.27 $9.29 253,791 Trade
Manage NGD $6.22[-] $9.50 $6.27 -0.12 -1.88% $6.39 $6.40 2,433,754 Trade
Manage ANV $3.68[-] $3.81 $3.82 0.08 2.14% $3.74 $3.71 3,172,541 Trade
Manage WLDVF $0.501[-] $0.529 $0.52 0 0% $0.52 $0.00 0 Trade
Manage OSKFF $0.00[+] $0.00 $0.00 0 0% $0.00 $0.00 0 Trade
Manage SSRI $8.31[+] $8.43 $8.40 -0.06 -0.71% $8.46 $8.45 1,216,337 Trade
Manage SWC $16.71[-] $17.35 $17.05 0.14 0.83% $16.91 $16.91 3,227,089 Trade
Manage CDE $8.68[-] $9.33 $8.97 0.02 0.22% $8.95 $8.96 1,469,770 Trade
Manage KGC $4.00[-] $4.08 $4.03 -0.13 -3.12% $4.16 $4.19 12,695,278 Trade
Manage AUY $8.00[-] $8.14 $8.05 -0.06 -0.74% $8.11 $8.16 6,760,778 Trade
Manage FNLPF $14.66[-] $14.81 $14.80 -0.0013 -0.01% $14.8013 $14.7549 840 Trade
Manage EGO $4.00[-] $7.57 $7.56 0.43 6.03% $7.13 $7.21 8,496,726 Trade
Manage GORO $2.60[-] $5.33 $5.00 0.1 2.04% $4.90 $4.90 808,386 Trade
Manage NSU $3.33[-] $4.49 $3.685 0.015 0.41% $3.67 $3.67 124,013 Trade
Manage SVM $1.20[-] $2.40 $2.02 -0.03 -1.46% $2.05 $2.05 667,887 Trade
Manage SWC $16.71[-] $17.35 $17.05 0.14 0.83% $16.91 $16.91 3,227,089 Trade
Manage AG $9.50[-] $10.91 $10.54 -0.01 -0.09% $10.55 $10.58 887,258 Trade
Manage PVG $7.17[-] $8.50 $8.09 0.01 0.12% $8.08 $8.04 295,952 Trade
Manage PSLV $8.38[-] $8.52 $8.46 0.01 0.12% $8.45 $8.50 442,878 Trade
Manage PHYS $10.70[-] $12.29 $10.91 0.01 0.09% $10.90 $10.93 259,733 Trade
Manage PAAS $14.90[+] $15.07 $15.01 -0.17 -1.12% $15.18 $15.20 945,835 Trade
Manage GPL $1.17[-] $1.23 $1.21 -0.02 -1.63% $1.23 $1.23 389,233 Trade
Manage MUX $2.65[-] $2.95 $2.76 -0.13 -4.5% $2.89 $2.85 2,469,857 Trade
Manage TKRFF $0.251[-] $0.268 $0.268 0.018 7.2% $0.25 $0.26 9,700 Trade
Manage CRR $141.55[-] $168.00 $149.94 4.68 3.22% $145.26 $144.39 733,673 Trade
Manage SKF $15.53[-] $18.08 $15.50 -0.11 -0.7% $15.61 $15.67 51,343 Trade
Manage NGQRF $2.04[-] $2.10 $2.06 0 0% $2.06 $0.00 0 Trade
Manage EXK $5.22[-] $5.48 $5.28 -0.08 -1.49% $5.36 $5.37 1,098,121 Trade
Manage TBT $60.98[-] $61.40 $61.13 0.23 0.38% $60.90 $60.60 2,556,959 Trade
Manage FCX $35.95[-] $36.10 $36.07 0.37 1.04% $35.70 $35.64 8,689,358 Trade
Manage BRIZF $0.92[-] $0.943 $0.9405 0.0024 0.26% $0.9381 $0.921 18,469 Trade
Manage MJNA $0.20[+] $0.201 $0.20 -0.001 -0.5% $0.201 $0.205 2,637,945 Trade
Manage LGCUF $1.06[-] $1.09 $1.0729 0.0229 2.18% $1.05 $1.0572 2,500 Trade
Manage BRD $0.00[+] $0.00 $0.00 0 0% $0.00 $0.00 0 Trade
Manage DRGDF $13.12[-] $13.16 $13.13 -0.03 -0.23% $13.16 $13.32 31,470 Trade
Manage torxf $1.47[+] $1.50 $1.50 0 0% $1.50 $1.52 4,200 Trade

Brian said...

Oh and one other thing. Yes, it is wiser to invest in bullion. I am satisfied with the amount of bullion I own now.

Captain Bob said...

Thanks Brian, thats quite a list! Bullion certainly is the easier option..isn't is? And safer.

What are your thoughts on GoldMoney?

Brian said...

I just perused the site for the first time. I'm a take possession of your metals- buy from your local coin dealer- sort of guy. When I want to speculate on the pure price of gold and silver- I use pslv and phys- Sprott's funds. Right now I am keeping my powder (money) dry because I believe the shit is about to hit the fan and my gut feeling is that the FED is going to come in- suspend the taper- and try to stop the inevitable stock market collapse when everyone heads for the exits. The last year of any administration (2015) always seems to be the low water mark and I see absolutely no reason not to be a little patient here- collect your zero returns from the bank- and pounce late this year and next as the picture gets a little clearer.

Compleat Patriot said...

In the bank and in the home is out of the question for me. Gun safes are false security just like double bolted front doors.. I nugget hunt with a MineLab 4500. And play around with a gold hog high banker. It pays out ok. Its amazing whats in these creeks if a guy knows what he's doing.

The congress was recently discussing pensions, savings, and stocks. Seven trillion out here in the private sector. If it came down to it, some National crisis, they'd grab it. When I learned we're just allowed the use of their fiat I changed my game around.

"The ultimate ownership of all property{public and private} is in the state; individual so-called "ownership" is only by virtue of Government, i.e., law, amounting to mere user; {Designated Multiple use - fee simple tenant-NO Allodium Title} and use must be in accordance with and subordinate to the necessities of the State." ---Senate Document#43;Senate RESOLUTION NO. 62 {Pg 9, Para 2} April 17, 1933.

The creator of the Federal Reserve Notes is the sole owner of those notes. All property is based upon fee simple, no citizen holds allodium title to property. There has been a lien holder since the 1783 Paris Treaty. Debtors are subservient to the lender. If one does business with loan sharks one might want to know the rules.

Some free country this place turned out to be.

Anonymous said...

A population approaching one third of a billion and Hillary Clinton is the best America can do in 2016? Un-fucking-believable.

jms said...

Woke up on 3rd base? Hell, she has been carried around the bases 10 times on a pillow covered litter and she thinks she's Babe Ruth. Other than that I'd say you're spot on.

Brian said...

This country can't survive 4 years of Hillary. Collectively speaking, 12 years worth of the Bushes' and 16 years worth of Clinton and Obama- is nearly three decades worth of lies, deceptions, wars, illegal conduct, bribes, (think Marc Rich) crony capitalism, and a complete abandonment of the rule of law spearheaded by the current clown and Eric Holder. How do you reverse 32 years of suck? You got me.

Gary said...

It shall be done