Sunday 31 March 2019

Debt Crazy Canada

Just read this....

https://www.zerohedge.com/news/2019-03-26/low-rates-have-crippled-canadians-debt

And this....

https://business.financialpost.com/investing/outlook/canadians-household-debt-highest-in-g7-with-crunch-on-brink-of-historic-levels-pbo-warns

fo0120_household_debt_c_mf.gif (620×473)

And then this...

Image result for crazy debt cat cartoon


Why are we throwing away our future for some temporary joy?

Reality - lulled into a sense of false security by a Canadian central bank that never admits to errors, and a government that wants to buy votes in the short term at the expense of the financial health of the country in the long term, most Canadians don't even realize that this is an issue.  

When this reality hits - likely as creditors start to dictate policy to governments at the start of ten years of austerity - the French Yellow Vests may seem mild in comparison to what follows.





Wednesday 27 March 2019

Shameful Post-Mueller Report Inaction

So the Mueller Report clears Trump of Collusion, and can’t make out an Obstruction charge. Do we owe the man an apology? I think not.

Trump is spending his time crowing about his apparent exoneration. He is threatening to go after those who had to audacity to do their jobs. He is acting like a complete ass.

The Mueller Report also confirmed that the Russians tried to pervert American democracy by impacting a US presidential election. Both Republicans and Democrats accept this essential reality.

But what of Trump? How does he suggest Russia be punished for this? 

Has he suggested kicking out Russian embassy staffers, and pulling Americans embassy staff out of Russia? 

How about banning certain Russians from the USA? 

Will he apply even more sanctions and threaten more severe responses if they ever try this again?

From Trump we have heard nothing whatsoever regarding his obligation to uphold and protect the Constitution of the United States of America – the foundation of American democracy and liberty – in the face of a clear and present danger to that liberty and democracy.

Is he the President of the United States, or the President of Donald Trump?

His post-report conduct belies his true loyalty to Putin, who appears to be his closest confidant regarding all things Russian. 

His failure to take action, or to even acknowledge the problem with Russian interference in US democracy, may be the clearest indicator yet that he is likely deeply compromised.



This isn’t over.

Sunday 24 March 2019

Trump's Nightmare

The report is filed. There have been no more indictments.

This is probably a vindication, but also a disaster for Trump. 

Even if the report exonerated him - and it will be released and it won't - the fact is that he has nothing left to attack. The Mueller Probe has been his number one target for two years. He has actively obstructing justice by alleging that it was a witch hunt - even with its 34 indictments against persons and three against corporations, and proof that Russia subverted the US presidential election.  

He will not be impeached because of this probe, although it will raise very serious suspicions. In spite of that, his allegation that the investigation was invalid and even illegal is going to be increasing seen as borderline insane.  

He has damaged the justice system in the USA. Now that he is not going to be impeached, and because he is Donald Trump, he will not be able to resist lauding the investigation for its professionalism and its successes, in spite of his abhorrent treatment of the same probe.

Then what?

He needed that investigation as a rallying point for his crew.  The investigation is over.  This one trick pony has no tricks left. His victory may be very sort-lived, especially if the USA slides into a recession, and he is plum out of distractions.

Saturday 23 March 2019

The Mueller Report!!!

The report has been delivered to the Attorney General!  

Random thoughts...

Mueller says there will be no more indictments. This appears to let Trump Jr. off the hook, as it seems clear that he lied to Congress. But Mueller still has numerous sealed indictments. Does this mean there will be no more indictments other than the sealed ones?  

Mueller has been ahead of everyone throughout this entire investigation, and as noted in this space before, he knows way more than anyone realises. The report likely has some earth-shattering revelations in it.

What of Trump Jr., Kushner and Trump himself?  

I suspect that in losing Manafort, Mueller did not have a witness who would testify about the "why" regarding the June 2016 meeting with the Russians. This may have proved fatal to the collusion aspect of the investigation - even if he knows the "what", without a witness to explain the "why" the information could be close to useless. It is what it is, and no one knows what pressure the Russians may have brought to Manafort to make sure he did not become that key witness.

Trump and perhaps Kushner will go to prison some day owing to real estate shenanigans in New York City. This will not happen until after Trump is no longer president.

Barr has said he will release only some information about the report. However, the report will be released in its entirety as the public will very widely demand it, but it will not be released at first, as the Trump White House has to digest its contents and prepare its responding lies - they may even craft their own report in response.

We do know that the Mueller investigation proved conclusively that the Russians are America's enemy - they tried to pervert a US presidential election. There is simply no question about this.  

How has the President of the United States reacted to this fact? How has Russia been punished for trying to pervert US democracy? 

Do we really need a report to tell us what we already know? 

Trump is deeply compromised by Russia, and this is a clear and president danger to the entire West. 












Thursday 21 March 2019

New Zealand

The massacre in New Zealand has shocked minds and hearts worldwide. It was not an attack on Islam, rather it was an attack on humanity.

The origins of this may be found in the use and abuse of the Internet, which has spawned a cavalcade of nefarious individuals whose evil inclinations have been stoked and encouraged by a relentless bombardment of lies, distortion and encouragements. Let’s look at their sub-groups – relatively untutored generalizations follow.

There are the true believers. These are people who are legitimately members of disaffected groups who have cause to complain about their treatment. Most obvious are groups such as ISIS which recruit adherents on-line using claims of a war against Islam as their base recruitment tool. Where they seek to recruit other Muslim people, they use the Internet to plant seeds in fertile soil, and they do have success pulling in those who may be psychologically predisposed to identify with their manipulative propaganda. By appealing to a pre-modern idealized world where everyone knows their place, where men dominate, and where subservience is demanded and expected, they attract persons of low character who see their meaning in life in the control of others, and who think service to tyrants is the same as supporting “the good”.

Then there are those who are not members of disaffected groups, but who join them perhaps as a result of more exaggerated feelings of disaffection and of being outsiders. The most obvious persons to do this are non-Muslims who join groups like ISIS as loyal adherents. They have usually been used as willing cannon-fodder, happily heading off to paradise where their every sexual fantasy will be fulfilled.

Then there are the “lone wolves”. These are people who may be outside of any recognizable mainstream of society, who spend hour after hour scouring the Internet for fuel to stoke their hatred of persons, places and things they know almost nothing about. They may only believe in killing as a path to a twisted sense of meaning. Many American lone wolves have been fantastically successful, with their desire to kill based on their own twisted logic.

It looks like the New Zealand shooter may have been one of these lone wolves. There were always such people before the advent of the Internet, but they were probably not as pervasive. There will always be evil. 

Beyond that, prior to the most modern of the modern eras, societies did not think they had to try to adjust to “new realities” where such persons feel they can give themselves license to take the lives of people who are, for them anyway, nothing but a hated abstraction. We have seen a shooter in an entertainment area of Toronto, and a fellow drive a van onto a side walk in the same city killing multiple people. The killers did not know any of them – humans had become an unacceptable abstraction that they wanted to terminate.

We bewail the “what” with scant reference to the “why” and the “how”. Why and how did these people come to see humans as targets?

Maybe we should head back to the Internet.  

Dare I say that in spite of social media, the Internet is a deeply flawed social space. There are connections, but they are electronic connections mostly not real connections. It is not possible to have literally hundreds of “friends” and have the word mean anything more than that someone clicked a button.

Can someone who has real and regular human interactions kill as if their targets are abstractions?  In a word, “yes” (see Nazis…), but the Internet may make it easier, because there everything and everyone is to some extent an abstraction.  The essential distance that these people would need to have from the basic reality of other people in order to kill then with no concern is pre-built into the system itself.

I deleted my multiple Facebook and Linkedin pages recently, as well as some extra e-mail addresses that I hardly ever used. I have started meeting humans more often, and allowing their essential reality to permeate my on-going existence.  

So far, no regrets.

Sunday 10 March 2019

Mueller Update

Rapid fire update.

Cohen spoke about his time with Trump. He conformed that Trump is a serial liar, racist, conman. He alleged that Trump told him to lie to Congress. He confirmed that the Trump Tower project in Russia went on longer than Trump had let on, and that Trump knew about the infamous June, 2016 meeting with the Russians, which Trump has denied. He alleged that Trump knew about the Wikileaks release of stolen Democrat e-mails before it happened. Trump has also denied this. Of course, Cohen also confirmed his version of the Stormy Daniels payoffs.  

Cohen also alleged many other things that largely got lost in the general mayhem that was his testimony.  The most important thing he did was hand over reams of documents...these may spark a much more useful review of his time as Trump's lawyer. His cooperation with the New York prosecutor's office will be the thing that sends Trump to prison...some day. 

Know, however, that Cohen is a snake, and as such his veracity on any issue is questionable.

Finally, Trump has said that Cohen asked for a pardon, and Trump said "no".  This is 100% consistent with Trump's approach to loyalty, which he sees as other people's loyalty to him alone. Nothing new here.

Manafort got 47 months for tax evasion/bank fraud. This is less than the 19 years that Mueller's team had asked for, but he will be sentenced again next week on witness tampering and conspiracy.  The fact that he undertook to cooperate with Mueller then proceeded to lie to prosecutors in breach of his plea deal will not sit well with the judge.  I would think he gets the maximum 10.

Things have otherwise been quiet.  

I have to assume that Mueller's team has been pouring over the transcripts that the House of Representatives have provided regarding Trump Jr.'s testimony, and they are preparing charges of lying to Congress.  

I also have to think that they are getting ready to wrap things up.   

I would estimate at least 20 other indictments, including against Trump Jr., Kushner, perhaps more against Manafort, and maybe even Ivanka Trump.  Expect a few "news" personalities who have been the mouth pieces for the Trump Administration to also possibly be indicted.  The First Amendment doesn't cover criminal conspiracy.







Wednesday 6 March 2019

PDAC, 2019

I attended the Prospectors & Developers Association of Canada convention in Toronto again last weekend.

It was very well attended, in spite of a new $25 charge for access to the Investor's Exchange, where hundreds of companies have set up booths hoping to rile and beguile investors with their "grande histoire de jour!"  

This new charge did cause some consternation. I did witness the outrage of two little old ladies, who argued with the reception staff, to no effect.  They finally refused to pay, and left the convention.  I watched as they got into their Rolls Royce Phantoms, and headed back to the Bridal Path to take their morning constitution.

The convention was very well attended.  The companies I chatted with mostly had cash in the bank ready to deploy.  It may be that these companies have not been this well off since before the Great Recession.

I found what I was looking for in less than 30 minutes - companies with money; an active drilling program; near known gold finds; with a reasonable number of shares outstanding.  I will do searches of the officers and directors before I buy to make sure they have not had securities exchange convictions, and off we go!

There was less hilarity this time around.  

I did visit one company that advised me that they were just putting permits in place to start mining, and they should be ready to go very soon.  That was in 2009.  They are still peddling the same story.  Good luck with that.

Do you remember this company from my blog on PDAC, 2018?...

"Another told a tale of the $20 Million that lenders were lining up to give him for a mill to process Cobalt - they were just comparing terms. He had previously built a mill, and one should be up and running in less than a year.  

All good, but then he mentioned that for the first three years the mill would process Gold-bearing ore from Quebec until the debt to build the mill had been paid off.  


WTF?


Why build a mill to process Cobalt if you immediately use it to process Gold for three years? Hmm...maybe you're not ready to mine Cobalt? 

And if many lenders just can't wait to lend $20 Million for this rock solid investment...well...why haven't they lent the money yet?

I visited them again this year.  I was advised that they were off to China this month to meet investors who may want to build them a plant to process all that lovely Cobalt!  Of course, there was no mention of the $20 Million they mentioned the year before, or anything else I noted from last year.  

I asked them if they had any money? The answer..."None....that's not how this work." I didn't buy.

All in all, I thought the PDAC was a great success.

Better than the PDAC itself was the opportunity to catch up with friends and my many cousins at dinners and lunches across the city.  A good time was had by all, and everyone seemed to be doing well....a true blessing indeed.