Warren Buffet Buys Barrick Gold, Barricks Papua New Guinea mine goes on strike LMAO! – September 10, 2020,
Anyone dumb enough to invest most of their money in Gold Stocks probably never did a labour intensive job before. My background is sheet metal fabrication, I’m anti-union, but I was a lone-wolf at my former job as speaking out against the union might cost me my life.
One of the reasons investing in a gold mine carries so much risk and one of the main reasons why most Gold mines either don’t pay a dividend or pay a small dividend is because the individuals’ tasks with the labor-intensive jobs have union bosses whose entire existence and commissions rest on raising the cost of labor.
I’ve said it before, I’ll say it again, I’m not a huge fan of a gold standard. I own gold, I own gold stocks, but those are my just in case of disaster investments. I’m not betting the house and the kids on Gold, because it really is my pet rock, that can help to jump-start an economy.
But anything that requires anything labour intensive is subject to mafia rule. People who do labor-intensive jobs don’t have time to read blogs like the one you’re on. People doing labour intensive jobs listen to their union bosses and their union bosses usually follow the stock market.
My former union boss was as useless as useless gets, but he had the full attention of my fellow employees. I hated the union because my wages were stagnant because of them. In my old job I learned how to use every single machine in the factory, however, seniority prevented me from elevating my status, I often resorted to intimidation tactics to work more hours, I hate unions to this very day, but they’re the reason I turned into an entrepreneur.
With that said, Warren Buffet recently bought shares of Barrick Gold and viola
” A standoff over a remote gold mine in Papua New Guinea threatens Barrick Gold Corp Chief Executive Mark Bristow’s streak of resolving thorny disputes with host governments’.
Barrick CEO faces tough test in battle over Papua New Guinea mine | financialpost.com
the keyword in the above statement is “Government” if you want a gold standard you’re asking for more Government, there’s no getting around it. You might say to yourself “I live in a free country, that won’t happen here!” You’re a retard if think that way, I live in a free country and the government is forcing almost everyone to wear a mask, furthermore fellow citizens who love them some big government will start fights with people who don’t like big government.
That’s the real world and that’s why a gold standard is a dumb idea. As long as I can use some form of medium of exchange to buy gold I could care less about a central bank. The U.S Federal reserve has the dubious honor of being in charge of the world’s reserve currency and even with a fiat standard that revolves around laws, the Fed with all of its stimulus is struggling to find inflation.
The only inflation in the modern economy is coming from growing the size of government, which obviously shrinks the size of the private sector. Now if you think the government won’t grow with a gold standard, you clearly don’t know of the historic failures of the gold standard.
Gold stocks when giving the chances to go on a bull run, always run into these same silly problems. I’m not saying the price of gold or gold stocks can’t go higher or have a really, what I’m saying is bull runs up the stairs and the bear jumps out the window!
Barrick CEO faces tough test in battle over Papua New Guinea mine | financialpost.com
Interesting times ahead!
