Category Archives: Private Property

Mourn The Death Of Mining In South Africa (The Canary In The Proverbial Mine)

America, BAB's A List, Elections, Federal Reserve Bank, Founding Fathers, Inflation, Labor, Private Property, Socialism, South-Africa

A close acquaintance writes from South Africa: “With the unrest in mining, cash flow has gone for a ball of sh-t. No one can hire. Practically all mining has come to a halt. Bloody f-ucking Malema [ANC Youth League president]! Into The Cannibal’s Pot [my 2011 book] says it all. Thank you.”

[SNIP]

I don’t expect Americans to comprehend the loss of South Africa. Americans are, as Pat Buchanan once put it so well, a silly people living through serious times. Other than adjectival overkill (“a deeply silly people in deadly serious times), I’d add to Buchanan’s aphorism that, like Esau did, Americans have squandered their birthright—“the Old Republic of property rights, freedom of association, and radical political decentralization”—and replaced it with a mess of pottage.

Americans, moreover, lack an understanding of the philosophical inheritance they’ve frittered away. How then can such a silly people comprehend the loss of South Africa?

Mining has been “the main driving force behind the history and development of Africa’s most advanced and richest economy.”

Mining is dying in South Africa.

The mining sector is the canary in the proverbial mine.

Barry Downs is an American who knows better. Formerly based in South Africa, this mining sector investor knows a thing or two about what matters and what creates value. He emails with these invaluable insights:

“The mining industry unrest in South Africa is deepening, with militant senior trade unionist even talking about expropriation of assets and nationalization.

Shares of SA gold and Platinum mining companies remain under pressure as many miners remain on strike and non striking miners are being intimidated. The ANC government, meanwhile, appears powerless to turn the deteriorating situation around.

Just think: South Africa, over a 100 year span, produced 41,000 metric tons ( 1.3 billion ounces) of the only real money in the world, i.e., gold, and they still have identified 6,000 metric tons of mineable gold and with some high powered exploration will only increase reserves.

The ANC government and Reserve Bank regime fails to understand that the continuing global economic crisis will ultimately be focused on the global fiat paper money system, which is breaking down, and in the end there will be a massive run from paper and into gold.

There has been talk in this country about the US being eventually forced to stabilize the American economy by backing the dollar again with gold, and they will use the 1933 Bretton Woods formula that came up with $35 an ounce. To come up with the new gold price, they will take the US monetary base, which is $2.7 trillion, and divide it by the US Treasury gold holdings, which is 262 million ounces. The number becomes $10,300 and ounce.

The ANC government, if it had any smarts, should be going everything possible to protect it’s gold mining industry, knowing that future revenues from the industry will likely expand many times over as the gold price rises.

Nationalization will mean that the 6,000 metric tons of gold reserves may never be mined and the industry will just end up closing down. The 1,000 metric tons of gold South Africa produced, annually, 40 years ago, has declined to only 200 tons annually. It may end up at zero. Is it possible that the ANC government will just watch the goose that lays the golden egg killed off?

Given the mentality illustrated throughout your book, Into the Cannibal’s Pot,, I think the answer is yes.”

Microsoft Surface: ‘A Truly Productive Tablet’

Business, Capitalism, Human Accomplishment, Politics, Private Property, Technology

Today is an important day for America’s rotating kleptocracy and the comitatus—that is “the sprawling apparatus … that encompasses not only the emperor’s household and its personnel … but also the ministries of government, the lawyers, the diplomats, the adjutants, the messengers, the interpreters, the intellectuals.” The Democratic incumbent and the Republican candidate for president prepare for another round in the debate circuit, to see which one of them will inherit the earth.

It is no wonder that productivity and creativity are lost in the din over parasitical politics.

Today, the Microsoft Surface tablet went to market. To call this magical thing a “tablet” would be to undersell it. If it fails to win wide general appeal it’ll be because there is nothing quite like it, and because it is “a truly productive tablet.” Yes, The Surface provides the features that keep the average individual’s brainwaves from flatlining. But it does so much more. For example, “It runs as a full computer,” and sports a physical keyboard.

The no-nonsense Windows chief Steven Sinofsky is “almost unwilling to truly define the Surface as a tablet: ‘I’ve used a lot of tablets and this is not a tablet, but this is the best tablet I’ve ever used. And I’ve used a lot of laptops and notebooks, but this is not a laptop or notebook, but it’s the best laptop or notebook I’ve ever used.'”

Sinofsky has also ventured that The Surface “provides the best WiFi reception of any tablet today.”

The Surface’s dual Wi-Fi (“wireless networking technology that uses radio waves to provide wireless high-speed Internet and network connections”) antennae are the part my genius and his team nailed.

Congratulations.

Protectionist USA

Business, China, Foreign Policy, Free Markets, Labor, Paleolibertarianism, Private Property, Trade

If you’re in the market for “cheap rooftop solar panels,” you might have to reconsider. The Commerce Department has slapped “tariffs ranging from about 34 to nearly 47 percent on most solar panels imported from” China.

Tariffs, quotas, anti-dumping penalties, or any other trade barrier, force the American consumer to subsidize less efficient local industries, making him the poorer for it. Hundreds of industries—“the burgeoning business of installing cheap rooftop solar panels,” for example—are destined to shrink or go under in order to keep local, politically efficient industries in the lap of luxury.

This is not in the interest of the American consumer and it violates his freedom of contract and association.

The meddlers in Commerce had “determined that Chinese companies were benefiting from unfair government subsidies and were selling their products in the United States below the cost of production, a practice known as dumping.”

Dumping is good for American consumers. Antidumping penalties are typically imposed by the West on poorer nations to stop them from selling their wares bellow market prices. Such protectionist policies are detrimental to less- developed and Third-World countries, which gain advantage through the use of one of the only resources they have, their labor.

The US flouts freedom when it meddles in the affairs of the Chinese and the US consumer. The latter loves cheap Chinese products.

Bottoms Up,* Kate Middleton

Aesthetics, Britain, Celebrity, Ethics, Etiquette, Free Speech, Private Property

She’s a gorgeous girl. She’s also stabler than her late mother-in-law (which, I guess, is not saying much, considering that the dodo Diana was a manipulative neurotic, given to histrionics).

In any event, Kate Middleton, aka The Duchess of Cambridge, will get over the fact that images of her bare breasts and bum are already in circulation, snapped in order to feed the voyeuristic fetish of the average consumer.

Certainly demand-driven, unethical, ugly and maybe even immoral: Hounding this girl wherever she goes is all of the above. But surely only trespassing on private property renders the action of the offending photographer illicit in natural law?!

The topless images of Kate were snapped from “the side of the road between trees, around half a mile away from a chateau,” in the south of France.

Was the photographer trespassing on private property? No report seems to specify. “Invasion of privacy” laws seem to belong to a broadly defined area of law, one that has little to do with the always unmentionable rights of private property.

(Bottoms up* means “here’s to you.”)