Labels Are Meaningless

labeling-people photo

Alt right, hard left, SJW, influencer, gender neutral, trans gender, queer, vegan, hipster, bi-polar, activist, eco-fundamentalist, post-modernist, hippy, rocker, mod, socialist, capitalist, liberal, radical, anarchist, feminist

Please.

Give me a break.

I don’t know what any of these labels mean.

They mean nothing to me.

Would you like to know what does interest me?

I am interested in who you are as a person.

I am interested in what you have to say.

I am not interested in your identity.

I am interested in the true and authentic substance of you.

I am interested in your heart.

I am interested in your mind.

And I am interested in your soul.

 

By Nicholas Peart

(c)All Rights Reserved 

 

Photo source: harikalymnios.com

Could Copper One Day Become A Precious Metal?

copper bullion

Copper is an important and much needed commodity. It is classified as an industrial metal. However, what if at some point in the future it became scarce enough to be reclassified as a precious metal?

Such a scenario seems inconceivable at this stage. After all copper is much more abundant than precious metals such as silver and gold. Most view it in the same light as other industrial heavy weight commodities such as iron ore or crude oil; fundamental resources in the movement, development and growth of the world.

Much of the world’s copper sources are also concentrated in just a few areas of the world most noticeably in Chile, which is the world’s largest copper producing country. Peru is the second biggest producer of copper followed by China and the USA. In 2018, the total global production of copper was 21 million tons. By comparison in that same year, the total global production of usable iron ore was 2.5 billion tons. For aluminium it was 60 million tons, for nickel it was 2.3 million tons, for lithium it was 85 thousand tons, for silver it was 27 thousand tons, and for gold it was 3.26 thousand tons.

A United States Geological Survey (USGS) global assessment of copper deposits around the world conducted in 2014 stated that there contained 2.1 billion tons of copper resources (note resources and not reserves) discovered under the ground while the number for ‘undiscovered resources’ of copper came at 3.5 billion tons. As of 2018, total global reserves of copper were 830 million tons. 

In 2018, total global reserves for the following commodities were as follows…

Iron Ore: 170 million tons of ‘crude’ ore reserves containing 84 million tons of iron reserves. *However it should be noted that the total amount of identified iron ore resources under the ground currently stands at 800 billion tons of crude ore resources containing 200 billion tons of iron resources. 

Aluminium: Global resources of bauxite (from which aluminium is extracted) are estimated to be between 55-75 billion tons.

Nickel: 89 million tons. *Total global resources of nickel are currently identified at 130 million tons 

Lithium: 14 million tons. *Total global resources of lithium are currently identified at 62 million tons

Silver: 560 thousand tons. *Silver is primarily extracted as a by-product mostly from lead-zinc mines, then from copper mines and then thirdly from gold mines 

Gold: 54 thousand tons.

So in light of all my findings, could copper one day become a precious metal? In my view, this is unlikely to happen anytime soon. Even if there is a growing demand for copper, the fact is, compared with silver and even other industrial metals like nickel and lithium, there is simply an abundance of copper. The current total global copper reserves are nearly ten times greater then the current total global nickel reserves and over a thousand times greater than the total global silver reserves, never mind gold.

Still, copper is aesthetically a very attractive metal and I rather like the novelty value of owning a few pieces of copper bullion. You can often buy a 1kg bar of copper via most bullion dealers for a very modest sum and the German bullion company Geiger Edelmetalle has a number of copper coins and bars you can buy from their online shop.

However, if you wanted exposure to copper in your portfolio, as with other industrial commodities such as iron ore, crude oil or aluminium, you are better off investing in blue chip mining stocks such as Rio Tinto or Antofagasta, which produce a lot of copper. What’s more, both companies also pay a dividend. Alternatively, you can invest in a copper ETF, where you have direct exposure to the copper price, but without the added stress of having to worry about factors such as company mismanagement or political issues when investing in copper related mining companies.

Both these options are far more practical than owning physical copper, which is just not feasible at current prices if one wanted to accumulate a large position. Even accumulating a growing stack of physical silver at its current prices can incur high storage costs if you wanted to store it with a reputable bullion dealer.

By Nicholas Peart

(c)All Rights Reserved

 

 

 

SOURCES/FURTHER READING

Main USGS link for commodity stats…

https://www.usgs.gov/centers/nmic/commodity-statistics-and-information

 

Copper production 2018 link…

https://prd-wret.s3-us-west-2.amazonaws.com/assets/palladium/production/s3fs-public/atoms/files/mcs-2019-coppe.pdf

Iron Ore production 2018 link…

https://prd-wret.s3-us-west-2.amazonaws.com/assets/palladium/production/s3fs-public/atoms/files/mcs-2019-feore.pdf

Aluminium production 2018 link…

https://prd-wret.s3-us-west-2.amazonaws.com/assets/palladium/production/s3fs-public/atoms/files/mcs-2019-alumi.pdf

Nickel production 2018 link…

https://prd-wret.s3-us-west-2.amazonaws.com/assets/palladium/production/atoms/files/mcs-2019-nicke.pdf

Lithium production 2018 link…

https://prd-wret.s3-us-west-2.amazonaws.com/assets/palladium/production/atoms/files/mcs-2019-lithi.pdf

Silver production 2018 link…

https://prd-wret.s3-us-west-2.amazonaws.com/assets/palladium/production/atoms/files/mcs-2019-silve.pdf

Gold production 2018 link…

https://prd-wret.s3-us-west-2.amazonaws.com/assets/palladium/production/s3fs-public/atoms/files/mcs-2019-gold.pdf

The Plato’s Cave Of Identity

identity image

It is so easy for one to become trapped and stand too close to the picture. In this instance one becomes myopic to their greater surroundings. When I think of identity I think of a tangled red tape maze of labelling and a neglect or disconnection to a more meaningful unifying permanency.

An important question one must ask is, ‘Who Am I?’.

Do I define myself by my race, social class, nationality, politics, culture or subculture, my external looks, fashion style etc ?

Or do I transcend any of these superficial identities and connect more with my heart, mind and soul?

In a more universal context, identity has no currency or power. The matter and energy in the universe is bereft of any labels or boxed confinement. It is that and nothing else.

For example, when I refer to myself as an artist, I am already putting myself in a box by creating an identity. I would severely limit and sell myself short if I were to solely think of myself as an artist. With my paintings, I strive to transcend identity. The inspiration for my paintings derives from what I like to refer to as ‘the eternal source’. By this I mean an eternal spirit or consciousness, which is permanent and will outlive me. I find it a challenging task to explain this in words, hence why I create the paintings I create. Through my paintings, I project and get closer to this eternal source much more than I would through words.

I believe focusing on identity creates a great deal of unnecessary anxiety, stress and friction. We become like spread-out and jagged fragments of broken glass; sterile and running on empty.  We become our own worst enemies.

When we drop identity, the concept of something such as likes and dislikes melts away.  We become more in tune, connected and empathic to our greater surroundings. We become more, dare I say, enlightened.

By Nicholas Peart

(c)All Rights Reserved

 

Image source: Pixabay

Fooled By Randomness

dice - luck

In one of my previous posts I talk about how hard work is more important than talent when it comes to achieving success. As much as I don’t want to believe it there is a kernel of truth to this. But is it the whole truth? What if it is the power of randomness that is the principle factor in all this? At least this is what the Lebanese-American writer and former financial trader Nassim Nicholas Taleb believes whose seminal books Fooled By Randomness and The Black Swan expand on this idea.

One of the most interesting aspects of success, especially in creative fields, is that it often comes to people we least expect it to. It is not unusual to watch an unknown band live and think ‘what on earth is this crap’. Then several months later that same band is flying high in the charts and many people are fawning over them. On the other hand, you can see an unknown band live who you are totally blown away by and are convinced the band will go on to greater things but success sadly eludes them and they continue to drift into obscurity. These typical scenarios give a lot of weight to Taleb’s theory of randomness.

Even though, at least at a practical level, hard work seems to be the best way to increase one’s chances of getting lucky is that really where it’s all at? Again in the context of musicians, some singer/songwriters worked their butts off on the open-mic night circuit playing at everyplace they could get a gig and then slowly after years of toil and sweat, they were rewarded. The supremely successful singer/songwriter Ed Sheeran is a perfect example here. But he does not escape the laws of randomness. Many other singer/songwriters also break their backs for years trying to make it, but alas their time never comes.

On the other side of the scales one can look at the pre-fame story of Oasis. They’d barely been going for a year or two before they were discovered in 1993 by the head of Creation records, Alan McGee, at a gig in Glasgow. From that point on success came to the band almost overnight. It was as if their success and destiny were written in the stars. The Oasis story is a perfect one of randomness and demolishes the adage of ‘if one works hard one will be rewarded’. Whether one likes Oasis or not, one cannot deny the powerful magnetism the Gallagher brothers possessed; something that seemed God-given and effortless, and millions of people lapped it up.

Life is never linear. Our predictions regarding the life trajectory of others often collapse like a house of cards. Random events beyond our control destabilizes these paths. When we look at the following world events; the Chernobyl nuclear explosion, the 1987 Black Monday stock market crash, 9/11, the recent Genoa bridge collapse etc; they are examples of events which weren’t anticipated and took people by surprise. Taleb calls them Black Swan events.

It is not uncommon to weave a narrative around these events and try to rationalise and justify them, but the truth is they were ruled by randomness and caught everyone off-guard.

 

By Nicholas Peart

(c)All Rights Reserved 

 

image: PIRO4D

 

Are People Wrong About Snapchat?

snapchat-logo

Snapchat has had a torrid year so far. If one were to look at the company purely within the paradigm of its financial fundamentals there is a lot to be concerned about. There is also the risk that the company runs out of money and ceases to be a going concern. One cannot rule out this likely outcome. It’s current share price certainly reflects the very bearish sentiment many have towards the company. At one point the share price recently went below $6 a share. When the company went public last year, the initial public offering price was at $17 a share. Back then the sentiment of the general public towards the company was different. There was such a frenzy around the IPO at the time that the price duly rocketed above $25 a share. Since the beginning of this year though the share price has been on a downward trajectory.

It has been the victim of a number of mishaps such as an unpopular app redesign, key influencers leaving the platform, and even, since quite recently, the number of total users slowly dropping. One of the most damaging things to happen to the company though was Instagram copying it’s key ‘Stories’ feature.

The Facebook Group is an enormous global digital media juggernaut consisting of the Facebook platform, Instagram and WhatsApp as its primary platforms. Snap is a mere minion by comparison. This is a true battle between David and Goliath. Snapchat owns just a sling and a stone whereas the Facebook Empire has Kalashnikovs, WOMDs and other state of the art weapons. On the face of it, Snap doesn’t stand a chance. Or does it?

One thing that does stand out about Snap is that it is designed and created in such a way to be the communication platform of the future. For ten years, smartphones have come to dominate our lives and they still do. But what is the next step? I am tempted to go in the direction of Smart Glasses and Augmented Reality. Google tested the waters with this earlier this decade with their Google Glass product, but it was too ahead of its time and people weren’t ready for it. The biggest misconception about Snapchat is that it is a social media company. It is not. It is a camera app.

Both Facebook and Instagram are designed in a way that is made for the smartphone. Of course people share photos and videos, but they also share written text and messages. The other social media platform Twitter, is purely text-based and relies on the keyboard on your smartphone. Snapchat, on the other hand, is made in a way that can bypass the keyboard and the smartphone. It’s Snapchat Spectacles product enables one to record videos completely bypassing the smartphone. It already has lenses that react to sounds yet earlier in August it launched lenses with speech recognition capabilities. Snapchat is often ridiculed in the media as a platform that is ‘frivolous’ (and Facebook isn’t?) and only used by fickle people. Yet when it comes to technological innovation, it is ahead of Facebook and with far less leverage at its disposal. It would be deliciously ironic if the people who are ridiculing Snapchat today begin to adopt it like everyone else in the event of a massive turnaround in the company’s fortunes. Consensus views can always radically change.

Snapchat may currently be down in the dumps on the surface, yet there is a lot going on behind the scenes that we are not privy to. You can write off Snapchat all you want today, but don’t be surprise in the event that you find yourself with a different point of view a few years from now.

 

By Nicholas Peart

(c)All Rights Reserved

Visiting The 1989 Revolution Museum In Timisoara

The Romanian city of Timisoara located in the western part of the country close to the Hungarian and Serbian borders is a pleasant place to spend a few days. The centre of town is filled with a wealth of beautiful ornate architecture dating back to its Habsburg past. Some of those buildings are semi-dilapidated yet a lot of this beautiful architecture and much of the city is undergoing a large regeneration project in time for 2021; the year when Timisoara will be the official European City Of Culture.

IMG_20181031_113054772-1560x2080

Piata Victoriei

Piata Victoriei is one of the highlights of the city. Its a beautiful long rectangular square with a wealth of ornate, diverse and unusual multi-coloured buildings and rows of pleasant restaurants, cafes and shops. It’s an ideal place to watch the world go by as they say. The most unmissable feature of this part of town is the prominent Metropolitan Cathedral; an imposing Byzantine-influenced orthodox cathedral constructed between 1936 and 1946.

IMG_20181030_163442327_HDR-1560x2080

The prominent orthodox Metropolitan Cathedral

Directly facing the monastery on the other side of the road, back on the Piata Victoriei is a memorial to the revolution of December 1989 against the repressive Communist regime of Nicolae Ceausescu. It is this event in the country’s history that gives the plaza its name. This revolution, which began here in Timisoara, is a very important event in Romania’s history since it eventually led to the crumbling of this regime and the end of Communism in the country.

IMG_20181030_163223477-1560x2080

Memorial on Piata Victoriei to the 1989 Revolution

The initial protests in the city took place on December 15th 1989 with a few hundred people protesting against the harassment of the Romanian born Hungarian pastor Laszlo Tokes by the Communist regime. Laszlo was a notable and outspoken figure representing Romania’s Hungarian community. For many years he was a target of the communist regime for his exposing of human rights abuses by the regime towards the Hungarian minority population of Romania.

In March 1989, Tokes was forced by the religious authorities of the time to move from Timisoara to another parish in a remote part of the country. Tokes didn’t budge. The authorities issued him with an eviction notice from his home in Timisoara stating that he had until December 15th 1989 to leave. It was on this date that members of his congregation protested his eviction on the streets of Timisoara. Eventually passers-by joined in and what originally began as a protest against the eviction of Tokes manifested into an even bigger protest against the repressive communist regime of Nicolae Ceausescu. Very quickly similar protests spread like wildfire across other Romanian cities including the capital, Bucharest. Despite Ceausescu’s efforts to supress the protests by ordering the military to fire bullets into the crowds, his efforts were in vain as he was up against the vast majority of the population of his country who wanted change and an end to his oppressive regime.

IMG_20181031_133136778-1560x2080

IMG_20181031_133158823-1560x2080

By the 1989 Revolution Museum

The 1989 Revolution Museum is a permanent exhibition dedicated to these events. When I first entered the museum located in an old and crumbling building, I was escorted by an elderly man from the museum to a room with a TV screen. On the screen he played a 20 minute documentary featuring visual recordings of the events between the beginning of the revolution until the fall of the Ceausescu regime. It is a dazzling sight to see what looks like almost the entire population of Timisoara out in the city protesting.

IMG_20181031_141739045-2080x1560

The city of Timisoara at the apex of the December 1989 revolution 

 

IMG_20181031_140708346-1560x2080

Pictures of the Communist ruler Nicolae Ceausescu in the museum 

 

 

img_20181031_140914731-1560x2080.jpg

A pre Revolution Ceausescu parade in Timisoara’s main square (today named Piata Victoriei)

Ceausescu had initially misjudged the potential magnitude of the protests in Timisoara. On 18th December he left Romania for a state visit to Iran putting his wife and subordinates in charge of trying to diffuse the protests in Timisoara. When he returned to Romania just a couple of days later the protests had become larger and more intense.  During a speech he gave in today’s Revolution Square in Bucharest on December 21st, some people in the crowd began to chant ‘Timisoara!’. Slowly more people joined in. Ceausescu, unable to suppress the chants, pledged to raise the national minimum wage but the crowd wasn’t having any of it. For the remainder of his speech he was constantly heckled until realising that he was powerless to engage the crowd, he left the stage and ran for cover. On December 22nd the protests had spread to all the major cities in Romania. Ceausescu and his wife embarked on an epic escape from the braying mob until they were captured by the army and tried on Christmas Day. After their capture they were duly executed by a firing squad.

The museum is full of ephemera related to the Revolution including photographs and newspaper articles as well as art works by contemporary Romanian artists related to this time period.  After watching the video I spend some time visiting all the rooms inside the museum and learning more about this period in Romania’s history.

IMG_20181031_142244595-1560x2080

img_20181031_140548546-1560x2080-e1541016780721.jpg

img_20181031_140522501-1560x2080.jpg

img_20181031_140459013-1560x2080.jpg

Photographs from the museum 

Visiting the museum is most definitely worth the visit if you ever happen to be in Timisoara. It is a raw and authentic experience regarding a very important time period in Romania’s history.

 

 

by Nicholas Peart

(c)All Rights Reserved

 

SOURCES

http://20years.tol.org/2009/10/26/laszlo-tokes/

A Day Trip To Felcsút

The Hungarian village of Felcsút is located 50km outside of Budapest and a 1 hour bus ride from the capital. It isn’t featured in any guide books and besides, with the abundance of things that Hungary’s seductive capital has to offer, why would anyone want to sacrifice a day in some one horse village in the middle of nowhere? But Felcsút isn’t just any other village. It is where the current Hungarian Prime Minister Viktor Orbán grew up. Since he became prime minister in 2010, a lot of money has been pumped into this sleepy settlement, mainly in the shape of a football stadium and a 6km long railway line.

Orbán is a controversial figure both at home and abroad. Opinion in Hungary on him is intensely polarized where people either love him or hate him. The latter accuse him of being a dangerous demagogue and a threat to the country’s democracy and free speech. Even though Hungary is a member of the European Union he has been very critical of it and has often come to blows with Brussels for not abiding by the rules as a member country. One example is his refusal to take in more migrants during the 2015 Refugee Crisis. Instead he constructed a razor fence around parts of the country’s borders much to the ire of Brussels. His supporters though see Orbán as a no-nonsense leader who isn’t afraid to speak his mind regardless of the consequences and also as someone who isn’t a pushover and is willing to put their country first. He is viewed by some as Europe’s answer to Donald Trump.

orban-2016

Hungarian Prime Minister Viktor Orbán 

From Nepligot bus station in Budapest, I board a knackered white bus destined for this village. As the bus leaves behind the final surrounding districts of the city we are in rural Hungary proper. Lots of open fields and not much else. Nobody on the bus or even at the ticket desk of the bus station in the capital spoke any English. Without the internet data on my phone and the Google Maps app, I would have most likely missed my destination and probably would have resorted to scrambling for a way to desperately return back to Budapest. Once out of Hungary’s cosmopolitan capital or any of the country’s major towns, the chances of finding someone who speaks English drops dramatically. For the record I don’t know a word of Hungarian. Its an impenetrable language which doesn’t stick easily to my poor little brain. I even find it a challenge to remember the word for ‘thank you’. This is not a country you would want to get arrested in.

I know we are approaching Felcsut the minute I see the blue dot on Google Maps edge closer to the name of the village on the digital map. We stop at a small roadside bus stop, but in my ignorance I assume this is not THE bus stop for my destination. The bus carries on and turns onto a road moving away from the location of the village on my map. Its going now at some speed and the blue dot on the map is moving away from Felcsut at an alarming rate. I have no choice but to interrupt the driver. I walk down the bus ailse and as I approach the driver I blurt out the name of my destination. He slams the brakes and the bus screeches to a halt. Thankfully I latch myself to a nearby railing to avoid being catapulted towards the driver’s window. With haste I grab my bag and jump out of the bus.

IMG_20181025_123851141-1560x2080

Arriving in Felcsút 

As I walk closer to the village I see a sign indicating the infamous Pancho Arena football stadium being only a kilometre away. The stadium is big with a seating capacity of 3,500. That is more than double the population of the village itself which has a population of just 1,200. For this reason it is seen by many Hungarians as a sensitive subject often dismissing the stadium as an Orbán vanity project. Many argue that the money should have been allocated instead towards the healthcare or education system of the country and not a football stadium. Orbán is a football fanatic and often tries to watch as many important matches as he can in between his busy schedule. In fact it is not an uncommon sight to see him at some games at the local stadium during weekend matches.

When I approach the stadium it is empty with the next game scheduled until the weekend. Yet the entrance to the stadium is open and so I enter. In the enclosure of the stadium there are photographs, trophies and other assorted bits of football related memorabilia. As I walk into the seating area the most striking feature of the stadium is not the football pitch but the wooden beams around the stadium. They are truly a work of art and give the arena the air of a religious place of worship and not solely a place to watch football. The beams and general design of the stadium were taken from designs by the noted local Hungarian architect Imre Makovecz.

IMG_20181025_130125636-2080x1560

Pancho Arena football stadium 

 

IMG_20181025_130120696_HDR-2080x1560

The unique wooden beams of the stadium 

A long path by the stadium leads all the way to small railway station, Puskas Akademia, named after the local football team. This station is part of the 6km long Val-Valley railway line. This project is more controversial than the football stadium since it has been stated that 80% of the investment towards it came from EU funds. I am the only person on the platform. There is no ticket office at this station just a small wooden hut with a time table of the daily train times on the side of the hut. All the information is in Hungarian yet I soon make out via a combination of Google Translate and raw guesswork that the next train should arrive in half an hour.

IMG_20181025_135345347-2080x1560

Puskas Akademia station stop as part of the Val-Valley 6km long light railway line

Twenty minutes later I am joined by two elderly ladies. I timidly ask them whether they speak English? To my amazement one of the ladies, Zsuzsi, speaks perfect English. She lived in London for one year in 1976 and reminisces fondly about her time in the city. A vintage style train soon approaches. When we board the train we are the only people in the carriage. I do wonder sometimes, unlike the football stadium, what really is the point of this railway line especially if so few people on average use it? Yet the hot potato aspect of this project aside, I am reminded of the countryside tourist railway train I once took last year in the breath-taking region of Mokra Gora in the neighbouring country of Serbia. That was a truly unforgettable memory.

IMG_20181025_141945306_HDR-2080x1560

One of the trains

Once inside the deserted carriage we all pose for photos. There is also a stove-like heater inside. A lady conductor enters our carriage to issue our tickets. I soon learn that there are about four stops in total on this line. However since my time is limited I buy a ticket for just until the next stop. I stay on the train for 25 minutes as it slowly chugs until the next stop. During this time we pass through the wild autumnal fields of the surrounding countryside. It is a beautiful sight with a rich kaleidoscope of colours. These are the kind of fields Vincent Van Gogh would have painted in all their glory.

IMG_20181025_140413059_HDR-1560x2080

Inside the train carriage with its own stove heater

 

IMG_20181025_140020286-1560x1642

Yours truly inside the train

 

IMG_20181025_140924790-1560x2080

The surrounding countryside

At the next stop, Felscut station, I disembark and say goodbye to the ladies. I have 40 minutes until the next bus to Budapest leaves from the northern end of the village. I briskly walk the few kilometres on the side of the main village road. Most of the places I pass along the way, save for the football stadium, are private residences and the odd church, school and grocery shop. Thankfully I make it to the bus stop on time. The bus arrives five minutes later to take me back to Nepligot bus station.

 

By Nicholas Peart

(c)All Rights Reserved