London/Toronto Stock Exchange Merger is Big News... For Us!
Wednesday, February 9, 2011 at 11:50PM You may have noticed that we don't often comment on the "news of the day". Why? Because, really, for the most part, 99.9% of things that are in the news doesn't matter too much... and you can get lost in the noise.
99% of all "news" doesn't matter? Prove it!
Okay, after the false flag attacks of 9/11 on September 11, 2001, how much non-9/11 news did American television news networks carry in the subsequent two week period? Answer: basically, none. For two weeks after 9/11 there was not one piece of news worthy of being covered by the news networks in relation to the big story of 9/11. Even the coincidentally timed announcement, on September 10, 2011, by Donald Rumsfeld that they cannot account for $2.3 trillion that had gone missing wasn't considered newsworthy after 9/11.
Did the world stop? No... it's just that almost all of the stuff covered by the major news networks doesn't
really matter. Lindsay Lohan may be going back to jail? Some American teens got killed in Mexico? A married New York Congressman got caught trolling for dates on Craigs List with his shirtless photo? Sure, it's interesting for pop fodder but is this life changing stuff? Not for anyone but the people actually involved.
However, today, for our purposes, there was fairly big news! The London Stock Exchange (LSE) announced a "merger" with the Toronto Stock Exchange (TSX).
Why is this big for us? It's big because the great majority of the stocks we follow are Canadian based gold and silver mining companies that trade on the TSX. While most of the large cap miners trade on both the TSX and the NYSE or AMEX, many of the most exciting companies with the biggest upside potential trade solely on what is called the TSX-V, or TSX Venture (or sometimes still called the Vancouver Stock Exchange). However, as many of our international readers are aware, it isn't always easy to trade Canadian stocks, especially the TSX-V stocks, when you live and have brokerage accounts in other parts of the world.
This merger may help to change that. While there are still as many questions as answers, Xavier Rolet, the Chief Executive of the LSE stated, " We are creating the world's largest listings venue for the commodities, energy and natural resources sectors."
If that is their goal and if this creates an even bigger more accessible marketplace for many of the exciting small and medium sized mining companies that we follow in Canada then it could result in a dramatic rise in the valuations of these companies as millions of new investors could have easier access to invest in these companies.
However, before we get too excited, remember that Canada and most Canadians think they are very special and they believe that anyone who isn't Canadian just isn't as good-hearted as they are - so they are very xenophobic about heathens controlling any of "their" important Canadian holdings.
The Canadian Government routinely disallows all sorts of transactions because they aren't "in the best interests" of Canadians. Ask BHP Billiton who tried to buy a large Canadian potash company late last year but was turned away - because "fertilizer is strategically important to Canada".
If we had to bet on it we'd say that the deal will likely be turned down by the Canadian Government. After all, who knows what would happen to the Canadian stock exchanges if they weren't owned and controlled by someone who says about, "a-boot", loves hockey and didn't necessarily believe that the Canadian socialist healthcare system isn't a shining example of "free healthcare" that all others in the world should look to like a glowing beacon in a dark, dangerous world.
If the Canadian Government does turn down this transaction what they may in fact end up doing, however, is denying thousands of Canadian companies access to a much, much larger market by which they can expand, grow, merge and finance themselves.
In the meantime, for those investors who live outside of the US or Canada the best online brokerage that we know of in terms of access to the Canadian markets (along with most other global markets) at very competitive rates is Internaxx (http://internaxx.lu).
Interestingly, this Luxembourg based brokerage recently got completely bought out by a Canadian company (TD Waterhouse). Since then, under some bizarre Canadian law that no Canadians can hold offshore brokerage accounts WITH Canadian owned companies, they announced they were closing all accounts to Canadians. And, of course, they also do not accept the most enslaved people in the world as clients: Americans.
They even accept North Koreans. What does that tell you about the amount of freedom American citizens have?
Subscribe to The Dollar Vigilante today to learn how to get residency and second passports in countries that are accepted by banks and brokerages worldwide and free yourself from the tyranny of your own government.
Reader Comments (5)
Fortunately, as of last summer I no longer hold any stock that courses through the Toronto Exs now crooked and hated criminal tentacles. Good riddance, TSX. It's not fun and no one loves you.
You make an interesting point about the most enslaved people in the world. Americans are also the most enslaving people in the world or that's my opinion. I looked into renouncing my citizenship as a means of expressing my discontent at being identified with actions American, and just to make a statement that "citizenship" is a concept that at least initially was rejected as being incompatible with the cause of freedom (reference Morality of Consent or other constutional blatherings). This has changed some due to civil rights law and probably recent developments also.
Before I made time for this though the state modified how it perceives me by attaching the word fellony to my name in some documentation which alters my "citizenship". I have not met the State yet, but its representatives claim authority that I so far haven't recognized because it doesn't exist. I am no longer granted the right to vote...I used to make sure I was registered so that my non-vote would "count". But nobody appreciated that one anyway.
Maybe sometime we could discuss the merits of expatriation vs. non-compliance and the implications both real and theoretical for bringing an end to unfreedom. For the only way to rid ourselves of "governments", ie of the unacceptable "State", and its simply not acceptable, requires much less "mass support" or consciousness than is widely believed. There is a truth that both the oppressor and the oppressed are engaged in a mutually destructive power relationship. It is a knowable truth and one that will not have a great deal of resistance via cognative dissonance during the short period in the near future when the system implodes and only a small handfull of people at the very top, like Buffet, Gates, etc, will be in a position to derive their meaning and identities from false narratives.
With over US$4.1 billion raised by mining companies on the London Stock Exchange’s markets in 2010, and a strongly recovering IPO market, there are increasing opportunities for African and globally focussed mining companies of all sizes to raise capital on the London Stock Exchange.
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