Doug Casey’s Two Days with the Real and Wannabe Elite
Recently I made a few comments about the world’s self-identified “elite”, and also about the migrants that are plaguing Europe.
Happily, I was able to do some one-stop shopping on both of these topics when I was in New York to attend a very elitist and Globalist conference. I’m not going to name it because its organizers/sponsors are business partners of mine. And since they spent multimillions putting it together, and I pretty much despised their invitees, I’m not about to identify it exactly. Just let me say that the conclave has aspirations to become another Council on Foreign Relations, Bilderberg, Bohemian Grove, Atlantic Council, or Davos. Same kind of people, same ideas. Uniformly bad ideas. But ideas that the public has been brainwashed into thinking are good.
A lot of people are afraid these groups control the world, or at least governments. They don’t. They’re social gatherings for high level government employees and NGO types who like to network, and feel relevant. And lots of their minions, who enjoy the rich food, pretending they’re big shots too, while listening to pontifications by actual big shots. They hope they can cozy up to them, close enough to ride a richer gravy train.
The avowed purpose of this conclave was to “build the public-private partnership”—the exact definition of fascism. So there were also lots of big league corporate types who want to “make a difference”, and rich guys who want to be known for something besides having money.
The program opened with Warren Buffett’s talk about how he didn’t need $50 billion, didn’t believe anybody else did either, and why he was a “philanthropist” who would give it all away. The avuncular Buffett is an investment genius; I enjoyed and agreed with everything he said on investing. But, like his friend Bill Gates, he’s also an autistic idiot savant. That’s someone who is a genius at one thing, and a fool at most everything else.
Most people assume that if you know about investing, you must also know about economics, which is a related discipline. But that’s completely untrue. It’s analogous to thinking that someone who knows how to drive a car also knows how one works. Economics is the study of how men go about producing and consuming; investing is the practice of allocating capital for maximum returns. Buffett’s grasp of economics is shallow, conventional, and unrelated to his success as an investor.
Furthermore, if Buffett was really a philanthropist he wouldn’t dissipate his $50 billion on poor people in Third World countries (which is where I suspect most of what’s left after administrative expenses will go). That will assuage some liberal guilt, but will vanish without a trace like water poured into the Sahara.
And actually just make the root problem worse in many ways. If he really wants to help his fellow man, he would continue compounding capital at 20%, forever. Capital makes the world wealthy; consuming or frittering away capital makes the world poor. But enough on Buffett. He only exasperated me for about 40 minutes out of two full days.