Tuesday, October 17, 2017

Oh Boy, Forecaster Marc Faber: If the US " had been settled by black people instead of whites."; Sprott to Fire Him


Tyler Durden reports:

Marc "Dr. Doom" Faber is in trouble, only this time it's not for yet another doomsday forecast which hasn't come true, but for launching into a racially charged diatribe against blacks.

Overnight the eccentric veteran investor and former Drexel director, claimed in his monthly newsletter that “the U.S. would look like Zimbabwe” if the country had been settled by black people instead of whites. In the latest edition of his 15-page investor letter, "The Gloom, Boom & Doom Report," Faber argued against
the removal of confederate statues, saying the only crime of the men those monuments honored was to defend slavery and that the controversy distracts from more important debates, according to Bloomberg. There, inbetween quotes from George Orwell and historian Edward Gibbon and his opinions on universal basic income, Faber wrote the following:

"And thank God white people populated America, and not the blacks. Otherwise, the US would look like Zimbabwe, which it might look like one day anyway, but at least America enjoyed 200 years in the economic and political sun under a white majority."

He then added that "I am not a racist, but the reality — no matter how politically incorrect — needs to be spelled out."

In the newsletter, Faber's comments also address the confrontation in Charlottesville, Virginia, where violence sparked a national debate over race and monuments that honor prominent Confederate figures that Faber decided to weigh in on. Faber called the monuments "statues of honourable people whose only crime was to defend what all societies had done for more than 5,000 years: keep a part of the population enslaved."

Reached for comment by CNBC, Faber did not back away from his statements: "If stating some historical facts makes me a racist, then I suppose that I am a racist. For years, Japanese were condemned because they denied the Nanking massacre." In addition to the brief statement, he sent a link to a USA Today story titled, "Banned in Biloxi, 'To Kill a Mockingbird' raises old censorship debate," focusing on the Harper Lee classic.

His comments drew an immediate reaction, and as Bloomberg reports, Sprott CEO Peter Grosskopf said will ask the board to demand the immediate resignation of Marc Faber, who is a director on Sprott's board. Grosskopf added that he had already spoken to the company chairman about Marc Faber.

Grosskopf also said that the company is “deeply disappointed” and shocked by Faber’s comments.

“We take pride in the fact that we are a global organization with a racially inclusive employee, client and investment base. Our policies in that regard are crystal clear and well known. As such these comments and thinking are completely unacceptable and we will be taking immediate steps to distance ourselves from Mr. Faber and request his resignation from our board."

UPDATE

Marc Faber has resigned as a director of the asset management firm SPROTT, effective immediately.

UPDATE 2

CNBC and Fox Business Network, cable channels where he had appeared in the past, said they won't invite him on in the future.

UPDATE 3

 Faber has resigned as a director of the gold mining company Novagold Resources Inc.

26 comments:

  1. Interesting comments from Faber. While the fact that people of African descent were enslaved by their white counterparts in America is beyond question, to assume the African slaves had nothing to do with helping to "build" the country is ludicrous.

    A quick jump back to the 1800s, for example, would show notable inventions, designs, and construction by the likes of John Hemings (furniture design and manufacture), Henry Blair (seed planter), Norbert Rillieux (vacuum evaporator that turned sugar cane juice into white crystals), Lewis Temple (harpoon considered one of the most important inventions in whaling), and the list goes on.

    Zimbabwe, along with many other African states, are economic basket cases. This much is true. They are so not because blacks lack the intelligence necessary to foster and achieve economic prosperity. To the contrary, Zimbabwe, and economic basket cases like it, are so because their politicians are corrupt, have no concept of free markets, private property or the rule of law. And state economic basket cases are not limited to Zimbabwe - think Sweden, Norway, Denmark, Finland, and Iceland. Further, in the SJW spirit of "diversity and inclusion," (lol) you have North Korea, Venezuela, Cuba, and the former Soviet Union, etc. And, in case you haven't notice Marc, the US is headed in the same direction.

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    1. @Derek Franklin

      Great comments.

      The primary reason why "white" culture has become so successful is that it managed, around the Enlightenment, to finally reject the tribalist superstitions that had plagued mankind for most of its existence, and to embrace property rights, the rule of law, and methodological individualism. It's unbelievably tragic that so many want to throw that away and revert to modern-day tribalism in the form of ethno-nationalism.

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    2. Yep, it's not about RACE, it's about CULTURE. My black entrepreneurial friends in the Caribbean are like "honorary white guys", in the current zeitgeist.
      White folks have to tune their rhetoric so as not to throw the baby out with the bathwater.

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    3. Exactly. Africa is a basket case today largely because it was decolonized at the exact moment that anti-colonialism was synonymous with Marxist economics and ethno-nationalism. Following that period self-important Western agencies came to "help"with various forms of economic aid programs.

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    4. Apart from the harpoon, let's not forget crack, twerking and hip hop.

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    5. Evan,

      What are some of the tribal superstitions you mention? Any suggested reading? TIA

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    6. TheFederalFarmer,

      I enjoyed the book Darwinian Politics by Paul Rubin. It describes some features of statism that may have roots in man’s evolutionary environment.

      Central planning was feasible in the societies of 100-200 individuals in which primitive man tended to live. But after the size of societies increased, it was no longer practical, and economic order became possible only through implicit cooperation. However, for a long time people psychologically confused these new countries for their old tribes, and continued to advocate for leadership to attempt to centrally plan society, largely thwarting implicit cooperation.

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  2. Even if it is true, he hasn't done much to advance the cause of a Liberty by making those remarks. It is virtue, reason, and the character it's people that advance a society, not skin color.

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    1. ha ha another spineless white cuck unable to gaze at the reality imposed by biology.

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    2. I don't normally engage in Internet debates, but fuck it. Spineless is calling people names. You don't know my race or anything about me. It has been my observation that one's biology is far less important than the decisions he makes in life. If you are correct, then you were set before you were born. You have the biology to succeed and everyone else without your biology is doomed to fail. What you do not consider is personal responsibility, free will, choice. If you have to make choices, then you don't get a free ride for being white. I believe you will succeed by your virtues, not the color of your skin. Take responsibility for your actions. It's really quite simple. Good luck to you.

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  3. While I think this is true, I still want to read Charles Murray one of these days. I also still need to investigate more about how IQ is calculated. Thomas Sowell in "Ethnic America" argues strongly against blacks being less intelligent. His discussion about black people from the West Indies being very successful in America is quite interesting and seems to disprove the theory about blacks having lower intelligence. That is a very interesting book, which I first heard about from a Ralph Raico speech.

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    1. My thoughts are that it doesn't really matter if some particular "race" might have a median IQ a few points lower than some other race. For one thing, IQ variance among individuals swamps most estimates of these alleged aggregate racial differences, rendering them woefully inefficient as heuristics. But moreover, the vast majority of the 50% of the world's population with below-average IQs are nevertheless positive net contributors to society.

      I could maybe see this type of research as being of academic interest (though I don't personally find it all that interesting) but I don't see how it leads to any worthwhile policy implications. The idea of worrying about "average IQ" among, say, a country's population is foolish at best, and a eugenicist nightmare at worst.

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    2. No point relitigating the extensive biological basis of IQ and EQ as the pillars of cohesion in societies. No black country ever has or plausibly will acheive first world status on it's own, except in libertardians' fantasies.

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    3. Yep, back in the '60's for instance, blacks from the Indies could mingle with the upper class with honor and respect. American blacks (except for maybe James Baldwin) eh, not so much.

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    4. Evan Smiley the low IQ lunatic has read somewhere that "individual variances swamp race differences" and keeps repeating it like he knows what a variance is. Idiot, it is not the "variance" but the median and the tails of the distribution of IQ that matter for societal advancement, and other traits like trust, empathy and EQ, all of which are sorely lacking in africans.

      If you libertards ever read a book other than "muh mises", you will know how the world works.

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    5. @niccolo, in your opinion what is the best book on this topic?

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    6. niccolo,

      Your comment indicates that you totally failed to comprehend what I wrote. Also I don’t believe I’ve ever posted a similar point before, so you clearly don’t know what the words “keeps” or “repeating” mean. These basic errors must be especially embarrassing coming from a supposedly “high IQ” white person with all of his supposed biological advantages.

      BTW, maybe you can answer me this: why are white supremacists so invariably furious and easily triggered? Is there a genetic explanation for this? And also, what exactly would someone who’s stuck in the Stone Age be able to tell us about “societal advancement?” Thanks in advance.

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  4. Lol, I wonder how many fingers were broken on keyboards with people furiously typing to virtue signal that they aren't racist, and the fact that Africa is a third world cesspool has zero to do with the fact that it is populated with Africans.

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  5. You would expect libertarians to support freedom of speech.

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    1. This issue literally has nothing to do with "Freedom of Speech." Freedom of speech has to do with government. The Constitution prohibits the government from interfering in the US "citizen's" free exercise of their speech.

      Libertarians actually don't support free speech. In a private property based voluntary society, there would be no government to regulate. All speech would be as free as the private property owners allow. If you own the printing press, you can say whatever the hell you want. But you can't come to my property and say whatever you want. You are limited by the agreement you have with me when you enter my property.

      This has to do with private property. Faber made comments as an employee of private companies. They have the freedom to fire him.

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  6. Faber is exactly right. This whole argument that "culture is to blame" is utter shit embraced by spineless white cucks. Show me a successful black country, ever in history and we will talk. Even the black country which was built by freed slaves, which adopted the US constitution en masse, is no different than the rest of it's black neighbors, which are utter shitholes. Ever heard of Liberia?. "muh economics" and "muh liberty" are for spineless white cucks who know no science or math and think the world ends with Human Action or Rothbard. Wealth is downstream of politics, which is downstream of culture, which is downstream of biology.

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    1. So by your logic the wealth differences between East Germany and West Germany or North and South Korea must be due to biology? If you claim that this is an exception, then why do you think African descent people are also not an exception?

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    2. Moron, a biologically more success prone race (read has characteristics to create wealth adn civilization) can be made destitute and poor by external conditions (freedom/property rights etc) but he converse is not true. Biology is a necessary, but not sufficient condition for creation of wealth and prosperity. For other fucktards like Evan Smiley and other octagenarians, who want more information on this, read https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3950413/ and read all the references Haier cites. Most of intelligence is inherited and cannot be changed with any amount of "training".
      You see a controlled experiment where a constitution adopted by predominantly white nation created the greatest amount of wealth in history in 200 years, and a black nation that embraced the exact same thing is a sub saharan shit hole. How can you libertards even argue with results like these? Adopting French culture and political rules by Toussaint did not a damn thing for Haiti. it is still a hell hole. When do you libertards read a book other than Muh Mises or Muh Rothbard?

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    3. Moron, a biologically more success prone race (read has characteristics to create wealth adn civilization) can be made destitute and poor by external conditions (freedom/property rights etc) but he converse is not true. Biology is a necessary, but not sufficient condition for creation of wealth and prosperity. For other fucktards like Evan Smiley and other octagenarians, who want more information on this, read https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3950413/ and read all the references Haier cites. Most of intelligence is inherited and cannot be changed with any amount of "training".
      You see a controlled experiment where a constitution adopted by predominantly white nation created the greatest amount of wealth in history in 200 years, and a black nation that embraced the exact same thing is a sub saharan shit hole. How can you libertards even argue with results like these? Adopting French culture and political rules by Toussaint did not a damn thing for Haiti. it is still a hell hole. When do you libertards read a book other than Muh Mises or Muh Rothbard?

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  7. I'm thankful for his comments. Total truth! African blacks are collectively worthless. There are some exceptions to the rule, but Africa was only developed because of white colonialism, something that we should go back to. Africa has a mostly low IQ population.

    I love the way everyone says he made a racist comment, but no one will move to a black run city in Amerika or any where else for that matter. I guess we know who the real racist are these days.

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