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@Brendan how much can you offer me a subscription to the financial times for @nlepan ?
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@Brendan lots of bait and switch going on or... all hat no cattle
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@Brendan of the majors? sibanye $sbgl
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@Brendan they are trying to buy Stillwater too which makes absolutely no sense
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@Brendan $pru fairly oversold
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@Brendan @starfire I am one of those people I guess. if you want to understand I can explain I guess but I think it's hopeless cause your mind is made up. all I can tell you is that at a high enough tax rate, I stop working.
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anonymous @BRENDAn Don't tell zuckerberg or Buffett. They would have stopped working a long time ago. Refer to laffer curve.
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@StarFire @Brendan no I'm open minded and would like to hear if you like to share, and I'm not talking communism here, but the idea is that in America especially, corporations rarely pay tax as it is, even if the rate is what 38% ? The effective rate is much less. While I'm stuck on the share buyback thing, if anyone looks the figures are staggering...so I'm saying its not high tax rates which is stopping buybacks, but it's high taxes which is stopping job creation? It doesn't matter, in 10 years they'll be no jobs in anyway it's all going to be robots running America...basically high or low tax, this ship is sinking unless you own $silver and $gold
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@Brendan @StarFire buybacks and corporate rates is beyond me. If there are loopholes to get around paying the corporate tax fine. I think it would be better just to have a low rate and not loopholes. From an individual perspective though I can tell you if rates were lower, I would work more. I think taxes are best when they are a minor nuisance not something that devotes the lion's share of my time and effort. I think the obsession with "fair share" has become pathological and unhealthy. I don't think the point of taxes should be to maximize money for the government. I think it should be enough for them to do their job with he least amount taken away from people.
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@Brendan 50 I guess. but it's still extortionate at far lower rates
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@Brendan anon you think it's easier to pay no tax if you make a million a year than if you make nothing?
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@Brendan what does incorporating do if you don't have expenses?
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@Brendan maybe geology @kjm
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@Brendan if you sell gold you are a goon?
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@Highheat @brendan Only if you sell gold that you don't own and in fact doesn't exist.
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@Brendan so any futures trader?
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@Brendan what if you buy it and it doesn't exist?
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@Highheat @Brendan You win.
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@Brendan what are you talking about?
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@Brendan @Allan it's constitutional and legal, according to us code 1182 President can for any time he deem necessary suspend the entry of all aliens as immigrants or nonimmigrants or impose any restriction he deem appropriate - for terrorism, illness quarantine, drug trafficking, etc. It's all in the presidents power. Pretty clearly worded.
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@Brendan this court that upheld the ban on Trump's order almost always gets overturned at the higher court, and that's clearly where this is headed, so the order will be law soon enough anyway
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@Allan @Brendan, he has already lost twice in court and when it goes to the Supreme Court you will see how constitutional it is. If it is so clear why aren't the judges agreeing with him.
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@Allan @Brendan, would you like a wager on that.
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@Brendan yeah cause they're trying it in San Francisco. I just read the constitution to you Allan couldn't be clearer...
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@Brendan President can suspend immigration from any area he deems appropriate
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@Brendan doesn't mention that at all and neither does trump's order. where are you seeing anything about religion?
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@Allan @Brendan, he banned Muslims from seven countries.
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@Brendan the relevant part is 1182 section f : "whenever the president finds that the entry of any aliens into the US would be detrimental to its interests he may by proclamation and for such period as he deem necessary suspend the entry of all aliens or impose any restriction he deem appropriate" that's a direct quote
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@Brendan nothing to do with religion or Islam. He is saying that accepting people from terror hotspots is not in the interests of the US and he has the power to do it.
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@Brendan he just calls people racist who don't share his political belief system
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@Brendan you still want to bet me @allan ?
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@Brendan what about that Trump's executive order to suspend immigration from 7 listed countries will be upheld by the supreme court or otherwise become active order?
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@Brendan the language you are choosing makes the outcome ambiguous
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@Brendan No because you're talking over me. I'm trying to bet that his order will become law of the land, be upheld and win in the higher court. you're trying to argue that a muslim ban will be called unconstitutional which obv it will.
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@Brendan don't think so this time since murats the one who started the discussion
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@Brendan Nordgold delisting, allowing shareholders to tender now or stay on as private shareholders with option to sell back 4 times over the next 2 years at today's price... interesting... reminds me of a Joel Greenblatt special situation with limited downside. Of course the risk is if they never re list or Mordashov wants to take it private at a lowball offer. I think they have better governance than that though.
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@Brendan also, glencore upping stake in subsidiary Katanga to 86%
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@bullionaire @brendan DRC has been interesting as of late in terms of politics.
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@Brendan doesn't seem to bother glencore
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@Brendan $arl.ax 0.05% Co $kat 0.52% also ardea marketing their project as the world's largest cobalt deposit... clearly not true, Katanga's over 1 million ton deposit dwarfs it. I'd be interested in seeing how their FS plays out. If they can make 0.05% work at these prices, it could be a decent mine.
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@bullionaire @brendan Glencores action give me more confidence in the DRC... just saying...
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@Brendan Oh, Glencore will support it no matter what happens. Just that as minority holders, our recourse is limited if they want to take us out at low price.
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@Brendan they have good governance in general though
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@bullionaire @brendan My one main concern, how the minority might make out if the balance of the public float is taken out..
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@PamplonaTrader @Brendan $ARL.AX is the worlds largest *undeveloped* #cobalt resource. Also, there is 50Mt of higher grade ore 0.12% Co and close to 1bln lbs of 0.86% Ni for 380Mlbs of CoEq. All for FD EV US$9.5m (or US$0.07/lb CoEq). This is not including their gold or zinc projects. Show me a cheaper Cobalt play.
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@Brendan they should say that on their website then @PamplonaTrader Actually it says it's the "developed world's largest cobalt resource" so I guess that's true.
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@Brendan @billionaire my guess is they would have an unaffiliated group independently value it, deduct working cap, debt, add cash etc then give that amount to holders or convert it to glencore shares.
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@Brendan it's one of the best mines in the world @bullionaire even when it was closed because of low prices, it was to optimize it operationally and it would still do well at sub $2 copper.
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@Brendan glencore is one of the few companies comfortable there to
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@Brendan massive massive volume as Captain Crunch sells dozens of paper future contracts while naked
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