Despite gold price increases, mining stocks underperformed due to rising costs (energy, wages) and geopolitical risks (nationalization, regulation changes), making them potentially undervalued.
Strong earnings reports from top gold miners are attracting momentum investors, potentially sparking a precious metals bull market as cash flow and earnings improve with rising gold prices.
Focus on quality mining stocks with excellent management teams, favorable jurisdictions, and large deposits, as bigger mines when successful make much more money than smaller ones with the same risk profile.
Dollar cost averaging into precious metals, avoiding buying at the peak of a run-up, and focusing on fundamentals over technicals are key strategies for investing in this space.
Russia’s decision to buy silver for its strategic reserve fund tightens supply, increases upward pressure on prices, and is a significant fundamental driver for the silver market, especially given the deficit and thin trading.
Cycles in the mining sector, with buyouts and mergers following strong earnings, attract generalist money, causing speculative fever and parabolic moves in the best-run explorers and developers.
Wage inflation and the resulting pressure on the Federal Reserve to raise interest rates could lead to a crisis, as higher rates would make debt ruinously expensive but lower rates would cause dramatically higher inflation.
Gold and silver’s value as rare, long-lasting monetary metals are becoming increasingly important, especially in a world of declining faith in fiat currencies.
Mimetic theory posits that humans acquire desires through unconscious imitation of others, challenging the notion of innate individual desires and highlighting our fundamentally social nature.
The discovery of mirror neurons in the 1990s provides neurological evidence for Girard’s theory, demonstrating that our brains are wired for imitation and empathy.
Role models and influencers, including celebrities and social media personalities, serve as powerful mediators of desire, shaping cultural norms and behaviors through their imitation-worthy status.
Mimesis is the primary mechanism for transmitting cultural information across time and space, with those at the top of cultural hierarchies wielding significant influence over societal values and trends.
Mimetic rivalry and scandal arise when desires are blocked, leading to phenomena like crab mentality and tall poppy syndrome, where individuals attempt to hinder others’ success out of envy or spite.
The single victim mechanism or scapegoating is a process where collective violence is directed towards a single individual, blamed for problems caused by mimetic contagion, temporarily restoring social order.
In Girard’s theory, Satan represents the reciprocal process of victimization, embodying both the first law of disorder (rivalry) and the first law of order (scapegoating).
Imitating Christ, rather than participating in mimetic violence, offers a path to transcend destructive social patterns by standing apart from mob mentality and choosing to love one’s neighbor.
Ayn Rand is profoundly opposed to the feminist movement, viewing it as a phony, Marxist, leftist movement that exploits other social movements like the black movement to advance its agenda.
The feminist movement demands independence with government help and tax support from men, whom they claim to be their equals, despite men not having received such assistance historically.
Ayn Rand argues that women should achieve equality on their own merit, rather than as a vicious, parasitical pressure group that is extorting support from men and society.
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