Jayant Bhandari the host of the highly acclaimed Capitalism & Morality sits down with Maurice Jackson of Proven & Probable to discuss Fanaticism, Novo ResourcesIrving Resources, and Arbitrage Opportunities. Mr. Bhandari shares with listeners a growing concern he sees in India with religious fanaticism and the affects it will have on the country.  Comparisons are made with Pakistan, which took the same path and has resulted in the lack of reasoning now being demonstrated in these societies.  We shift the conversation onto two quality issuers Novo and Irving Resources.  Jayant shares with listeners why these two companies will continue to remain his biggest portfolio positions. Mr. Bhandari then conveys two arbitrage opportunities that have his attention at the moment.  We then return to geopolitical events unfolding in Iran.  Finally, we disclose the details of Capitalism and Morality.  An action-packed interview!

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TRANSCRIPT

Maurice Jackson:

Welcome to Proven and Probable where we focus on metals, mining, and more. I’m your host, Maurice Jackson.

Where today, we will discuss fanaticism, Novo ResourcesIrving Resources, and arbitrage opportunities.

Joining us is Jayant Bhandari, the host of the highly acclaimed Capitalism and Morality, and a prominent sought-out advisor to institutional investors.

Mr. Bhandari, welcome to the show, sir.

Jayant Bhandari:

Thank you very much for having me, Maurice.

Maurice Jackson:

Jayant, during our last conversation, we highlighted geopolitical events that were concerning you in Zimbabwe. Today, I want to shift the focus to a place where you’re familiar with, and that is India. You and I were having a discussion offline about your concerns with Hindu fanaticism that I thought would be good for you to share with our audience. Now, you’re currently in India. Tell us what you see unfolding there, and why we should be concerned.

Jayant Bhandari:

Maurice, I am absolutely petrified looking at what’s been happening in India. The cancer of religious fanaticism is spreading very rapidly in this country. Also, if you try to understand, and the international media tries to subdue information on what’s actually happening in this region, fanaticism in the Middle East, and Pakistan, and Bangladesh has resulted into horrendous consequences. Religious fanaticism whether that this Islamic, or Hindu fanaticism, or event Buddhist fanaticism pretty much destroys some part of the brain, which means that these people become virtually incapable of ever learning the concept of reason.

If you look at what’s been happening in Pakistan, Pakistan was a relatively liberal country in the 1980s. Pakistanis were relatively well-respected in the international society. In the late ’80s, they started imposing Sharia Law in the country that changed the constitution of Pakistan into an Islamic constitution. Today, I communicate with a lot of Pakistanis, actually, are people who don’t believe in religion anymore, but they communicate with me, and they tell me that if they ever told anyone that they do not believe in their religion anymore, their throats would be split by their own family members.

That is the kind of result that religion, imposition of religion, has had on people in Pakistan.  Something similar has happened in Bangladesh. Now, it is very, very rapidly happening in India. My guess is that India is about 20 years behind Pakistan in becoming a full religious-fanatic state. This is extremely scary.

Maurice Jackson:

I have a multilayered question here for you. Could this be a catalyst for civil unrest and even where civil war will spill over into neighboring countries like Pakistan?

Jayant Bhandari:

Well, Pakistan is constantly at war with itself. Once you collectivize people using a tribal concept of religion, the problem is any tribal concept inherent in it has possibility of conflict within the tribe. The whole of the Muslim world is fighting with each other. There is not a single Muslim country in the world that people are not fighting with each other. The only exception that I can think of is Malaysia, but Malaysia is also becoming increasingly fanatic right now.

Once you have a religion imposed to the legal means in a society, not only it develops like cancer within the society, but it also creates massive amount of conflicts within these people because these tribal people then fight for leadership positions, positions to exploit the stupid population.

What you see is civil war-like situation in all these countries, including in India. The only thing that is now happening is that this situation is going to become much worse in India. Pakistan and Bangladesh are already extraordinarily horrible countries for people. The conflicts, the religious conflicts are off the charts in those countries, particularly in Pakistan.

Maurice Jackson:

Now, Jayant, we addressed the problem. We believe is the solution is the concept of reasoning. For someone new that’s listening today, expand upon that for us please.

Jayant Bhandari:

Maurice, basically, there are two kinds of societies in the world, a society based on reason, and a society based on irrationality, tribalism, superstitions. You can pretty much divide the world into two parts. The rationale countries are people in West Europe. Also, to a slight degree, people in East Asia. Pretty much everything in the rest of the world, which is Latin America, Africa, the Middle East, Central Asia, and South Asia are extremely, extremely tribal, and irrational people.

Now, people who have grown up in the western society will have a very hard time understand what I’m saying. Even I have to keep visiting these countries three or four times a year to refresh my understanding of what tribalism and irrationality means, but these countries are extremely, extremely backward, extremely irrational, and extremely tribal. They cannot think in terms of right and wrong. They always think in terms of tribe and outside the tribe, or what their religion tells them to do, what you should and should not do. This almost always results into violence towards outsiders. Eventually, the tribal warfare breaks out within their own societies.

Remember, a proper size of a tribe is about 50 or 100 people. When you have 120 million people or 50 million people living in religious tribes, they will have massive, massive tribal warfare between Shia and Sunni. There are tens and tens of subsets within Shias and Sunnis. They all fight with each other. They think that Muslims who came from India into Pakistan are not really Muslims. Some very religiously dogmatic Muslim of Pakistan have been killing these people. These people are either Ahmadis or … I’m forgetting that word for that. They don’t like them. The result is that they go into this never-ending tribal warfare. That is coming to India right now.

Maurice Jackson:

For our listeners, if you’re concerned why we’re bringing this to your attention when you have one-seventh of the world’s population going into this turmoil, it’s important for you to note. I have a question for you as well because I’ve never been to India. Share with us, are there any pockets where you see liberty and reasoning in any part of India at all?

Jayant Bhandari:

The concept of liberty and reason is purely a western concept. Those words have no value in these societies. Now, Iranians, and Pakistanis, and Indians might go on the street claiming that they are fighting for liberty and freedom. These people have zero concept of what these words mean. What they are actually fighting for is free stuff. They think that democracy is some magic wand that brings them free stuff. That is the kind of concept that they have in mind when they protest for so-called liberty. No, they don’t have any understanding of the concept called reason or the concept of liberty.

What I must say though, Maurice, is that Hindus have been relatively tolerant over the last 70 years. You were in a position to hold your religion, and not have to suffer the consequences for not being a Hindu. Hindus were very tolerant in terms of what you practice and what you did at home. That is now starting to change. That is what petrifies me about India.

Maurice Jackson:

Now, before we leave India, I have a question that is unrelated to what we discussed so far. I want to know if you could share with us the influence that Bitcoin has had in India this year.

Jayant Bhandari:

Maurice, we have had a few conversations about the increase of tyranny, politically-motivated tyranny in this country. What happened was that the government is centralizing everything. They have centralized the tax system, and they are forcing people to use the banking system. They’re forcing people to use digital fiat currency through the banking system. This has scared a lot of people, which has meant that a lot of young people, particularly millennials or people who became newly rich have invested their money into Bitcoin. Also, a lot of people have been speculating in Bitcoin in this country. There has been a lot of interest among a very small minority of population in this country in Bitcoin.

Maurice Jackson:

All right. Switching our discussion on to issuers. Jayant, you and I are strong advocates and shareholders for one of the proud sponsors of Proven and Probable, and that is Novo Resources TSX-V:NVO OTC: NSRPF. They have a stellar board of directors and management team. One of Novel’s directors is Dr. Quinton Hennigh, who is regarded by many as the world’s best geologist. Recently, they added to their board this year Akiko Levinson and Eric Sprott. This month, the stock prices had a sell off based on Novo’s latest press release. As a shareholder, give us your take on the current status of Novo Resources.

Jayant Bhandari:

Maurice, I own a lot of Novo Resources. This is by far, by a huge margin, my biggest investment in my portfolio. However, I have not talked much about Novo Resources in the last few months mostly because the understanding of geology is not within my scope necessarily.

I have worked in the past with Dr. Quinton Hennigh. I have an enormous amount of respect for him, not only because he’s a great geologist, but, also, he’s a great businessman. He understands business, and he understands finance. Ans there is virtually no one in the mining industry anywhere in the world who he does not know about. He also knows about virtually any project that I have ever mentioned to him. This person is extremely knowledgeable. A lot of my money went into Novo Resources just because of this reason, because I trust him, and I think he will be able to create value for me. He has created an enormous amount of value for me.

Now, what I see from the recent press releases is that market has lost a bit of confidence in the company because most of the gold seems to be nuggety gold. For me, that does not change the situation much. The problem that the company faces right now is in evaluating how much of resources they have in the ground that does not really change the fact that there is likely to be gold in the ground.

The hope that the investors had before this news release came out hasn’t really changed. What has changed is that it has become more difficult for the company to prove a resource. I’m not so bothered about it. I think the company will find some ways around it. Moreover, technology is improving so rapidly in the mining industry that by the time this project actually goes into production, they should be able to mine narrow stopes of gold systems to mechanize mining.

That is my hope. I continue to be invested in the company. If Novo falls anymore, I am a buyer again. As I said, this is by far the biggest investment I have in my portfolio.

Maurice Jackson:

That was my next question. Is this a good time to buy Novo Resources?

Jayant Bhandari:

What I’m looking for postally is for Novo to fall below $3.50 Canadian again. I will be putting in a lot of my money in this company again. That’s despite the fact that Novo is already by far the biggest investment that I have.

Maurice Jackson:

That’s saying a lot because we have to remember that earlier this year, Novo was at 66 cents. For it to be at $3.50 right now, that’s quite an accomplishment. How about another-

Jayant Bhandari:

That’s true.

Maurice Jackson:

Yes, I’m sorry. Go ahead.

Jayant Bhandari:

Yes, indeed. I mean, people have to be still aware that this is a very speculative investment. They have to always know a buy price and a sell price. People should not fall in love with their investments. They should book profits when they think the time has come. Novo is a very exciting investment for me.

Maurice Jackson:

Yes, I sense like some advice you gave me about a year ago about emotional intelligence, how you have to have it, and have to have a plan and a strategy. You just somewhat conveyed that here. How about another one of our sponsors, an quality company, which Dr. Quinton Hennigh is also a director and Akiko Levinson is the CEO. That is Irving Resources CSE: IRV OTC: IRVRF. What are your thoughts on Irving right now?

Jayant Bhandari:

I was at the project of Irving a couple of months back in Japan, Maurice. I truly like what Akiko Levinson has done in Japan. She is, as you know, a Japanese person. She lives in Vancouver, Canada, of course. That gives her capabilities and competencies that hardly anyone else has in this industry. She knows the Japanese culture. She knows mining. She’s extremely well-connected in Canada in the mining industry.

Now, she has found and state a couple of projects in Japan. These are extremely exciting projects. I was with Mitsui people when I was traveling around in these projects. Mitsui people were extremely excited about what they saw at the projects. Also, Japan is a great, great country. It has, in my view, probably the best country in the world.

International media does not like that country because Japanese don’t like to let too many migrants to come in, and they don’t like to follow the popular culture that the international media wants to develop in these countries, which, in my view, is great. Japan should preserve itself. I have written a couple of lengthy articles showing that a lot of what international media says about Japan is wrong. Japan is an extremely creative, honest, and good country to operate in. I am very interested in Irving Resources. It is among my bigger investments. I think it is the third biggest investment I have in the mining industry.

Maurice Jackson:

Is this a good time to buy Irving Resources?

Jayant Bhandari:

The last time I saw the price was about 81 cents. I am hoping that during this winter when nothing is actually happening at the project in terms of drilling or in terms of evaluating the project, the share price weakens a bit, so that you can accumulate more. Right now, I’m not buying. I’m very patiently hoping for it to fall to around 70 cents, so that I accumulate more of Irving Resources.

Maurice Jackson:

For our subscribers, let’s just backtrack on that. The reason we see these prices decline for quality names like Irving Resources, there in the northern hemisphere, it’s wintertime, and the press releases aren’t out. There won’t be really any press releases coming out, I should say. What happens is investors or speculators, I should say, forget why they bought the company. They simply sell. This is a great buying opportunity during this time of the year for quality names like Irving Resources.

Moving on to arbitrage. Are there any opportunities out there that have your attention at the moment?

Jayant Bhandari:

Two companies, Maurice, that I am paying attention to. The news releases recently came out. I have not looked into details of these companies, but I’ll mention those companies. The companies are Alabama Graphite. It’s trading at 8.5 cents. The other company us Rapier Gold. It’s trading at 6 cents. At these prices, they offer a very nice arbitrage upside based on the modes of ratio that they are being acquired at. The first one is Alabama Graphite. The ticker is CSPG. The other one is Rapier Gold, and the ticker is RPR. You still have to understand what is in these companies, but the arbitrage issue is very good.

Maurice Jackson:

Jayant, as always, thank you for sharing that with us. Last question for you, what did I forget to ask?

Jayant Bhandari:

Well, one thing interesting that I have recently been watching for the last two days is a revolution that is probably starting in Iran. People, again, western people are now getting very worked up about what’s been happening in Iran. They’re now starting to assume that a fight for liberty has started to happen in Iran.

The reality is that people came to the roads in Iran not to fight for liberty. Yes, some people did remove their hijab and wanted to protest against the imposition of religious doctrine on these people, but the reality is that they are fighting for free stuff. Inflation has been huge in Iran. Oil prices have fallen a lot. They are fighting against the regime because the regime is unable to cater to their demand for free stuff. Do not expect any real change happening in any of these countries any time soon. They will continue to metastasize in terms of religious dogmatism.

Maurice Jackson:

Jayant, you’re a world-renowned speaker. Tell us where you would do your next presentation.

Jayant Bhandari:

I’m currently in India, Maurice, for the next few days. I’m speaking at the university called Auro University in Western India, a city called Surat. Then, in two weeks, I will be in Vancouver where I will be speaking at Columbia University … Columbia College, sorry.

Maurice Jackson:

Last question for you as well, give us an update on Capitalism and Morality.

Jayant Bhandari:

Capitalism and Morality is a seminar that I have been running for the last eight years in Vancouver, Canada. The next one will be on the 21st of July 2018. The draft program will be uploaded next week sometimes. We have about 10 speakers. It will be a very long day, but a day I look forward to, and a day a lot of my audience look forward to. It’s a thought-provoking day where people discuss things and issues that they don’t really get an opportunity to discuss outside this seminar.

Maurice Jackson:

Jayant, if you would, share with us the link on your website where we can look at previous presentations.

Jayant Bhandari:

They can go to my website where I have everything that I write and speak on. The website is jayantbhandari.com. There’s a tab called Capitalism and Morality within which are linked information on the next seminar, and also every single video that I have recorded in the last eight years. There are about almost 70 to 80 hours of video recordings linked on that page. Capitalism and Morality is a seminar.

Maurice Jackson:             Have you determined the price of admission yet?

Jayant Bhandari:              It’s very cheap, Maurice, really. I am currently offering just for the next few days more $130 Canadian, which will count to be about $100 American. I will give you a discount coupon code as well. They can type P&P18, and they will get an additional 10% discount.

Maurice Jackson:

Thank you so much on behalf of all of our subscribers, Jayant. Last, but not the least, please visit our website, www.provenandprobable.com, where we interview the most respected names in the natural resource space. You may reach us at contact@provenandprobable.com.

Jayant Bhandari, the host of Capitalism and Morality, thank you for joining us today on Proven and Probable.

 

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