Faber asked to leave Sprott board

[boglerdude]

https://www.bloomberg.com/news/articles ... te-america
Sprott CEO calls comments ‘contradictory’ to company’s views
Faber’s newsletter said he thanked God whites settled America

[ochotona]

Whites didn't settle America. Siberian Asians did.

[Xan]

It's "contrary to the company's views" that whites settled America? Or it's contrary to their views that that was a good thing? I mean, in a vacuum I suppose you could say that it would have been better if somebody else had, but then the company wouldn't exist, right? What are their views, exactly?

[Libertarian666]

Their views are that saying anything politically incorrect isn't allowed. Facts and logic are racist!

[moda0306]

Their views are that saying anything politically incorrect isn't allowed. Facts and logic are racist!

Yeah the excerpt in question was pure "facts and logic" rather than "clear white-supremacist opinion." :/

Anyway, I'm glad to see any highly-compensated investment analyst calling for hyperinflation back in 2009 fired, like he should have been in 2009, 2010, 2011, 2012, 2013, 2014, 2015 or 2016...

[moda0306]

Their views are that saying anything politically incorrect isn't allowed. Facts and logic are racist!

But surely you understand that someone's placement on the Board of Directors of a company has little to do with facts and logic.

Here's a longer bit from the article linked in the opening post:

Veteran investor Marc Faber left the boards of money manager Sprott Inc. and mining companies Novagold Resources Inc. and Ivanhoe Mines Ltd. after he claimed in his newsletter this month that “the U.S. would look like Zimbabwe” if it had been settled by black people instead of whites.

“The recent comments by Dr. Faber are deeply disappointing and are completely contradictory with the views of Sprott and its employees,” Sprott Chief Executive Officer Peter Grosskopf said in announcing Faber’s departure from the board. “We pride ourselves on being a diverse organization and comments of this sort will not be tolerated."

Here's the offending part from Faber's newsletter:

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

Broadly speaking, I would say that the last clause in the second sentence is factual. But I'm not seeing the fact and logic in the other parts.

It seems to me that the company's view is that they get to decide who is and who isn't on the board. Which is the way it has always been. Are you saying that they should not have this prerogative?

Anyway, I'm glad to see any highly-compensated investment analyst calling for hyperinflation back in 2009 fired, like he should have been in 2009, 2010, 2011, 2012, 2013, 2014, 2015 or 2016...

Indeed. Facts and logic would have dictated that he should have been removed long ago.

He's been living under the "economic and political sun" of a critical mass (not all, certainly) of wealthy conservatives who do not give a f'k if you're dead-wrong about the economy as long as you stroke their political and cultural jingoism while you hammer out predictions that don't pan out.

I saw Peter Schiff was on the Joe Rogan podcast a few months back. I really should dive back into him again... but the politics of deficit hawkery and inflation hawkery seem to be a bit tampered now that a Republican is in office. Unless of course you're Paul Krugman, who realized that "deficits matter again" somewhere around mid-November of 2016.

[Xan]

hmm... Seeing his full quote, I withdraw my pseudo-defense of him. He pulled a completely contrary-to-fact hypothetical out of nowhere and then criticized people for their non-performance in it. No reason for it, no sense in it.

[Libertarian666]

Yes, it is a contrary-to-fact conditional, so I withdraw my comment about it being based on facts and logic.

[Hal]

Marc Faber interview - his side of the story. 36 min mark onwards.

https://www.youtube.com/watch?v=qs4hdyXbUZU