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Norweigan oil fund

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Re: Norweigan oil fund

#291

Post by djsumdog »

buboard wrote: post #73
lnsru wrote: post #28

Wow! These people must be extraordinary to use oil money this way! Not kidding! Never been in Norway, but in countries I have ever been this would be barely possible due to corruption and the needs of the politician’s buddies. Like yachts, private jets, Bentleys and Vertu phones. This $186k/person isn’t far from what average German poses: https://www.bundesbank.de/resource/blob/617492/cd59713c156ad...

Norway was lucky to be a very developed society before oil was discovered. In most countries oil is a curse

The Dictators Handbook is a great book that talks about how natural resources can lead to autocracy a lot of times, because leaders can extract resources, sell them to get money/power and not give a damn about individuals. Countries that have fewer resources tend to need support from a larger selectorate and tend to (not always) lead to more democratic societies.

So that does go with what you said (I don't know their oil history, but I assume they build a society that was culturally western European before they discovered and started extracting oil resources).

Re: Norweigan oil fund

#292

Post by southerndrift »

a_bonobo wrote: post #153
capsch wrote: post #54

Yes those social Norwegian's invested; and the UK gave there north sea oil revenues to all the oligarchs

Same thing in Australia, the wealth coming from the resources boom has been and is being given to a few rich people, not the general public (who are having social services slashed regularly)

Compare Australian wages to the rest of the world. If you go on vacation to other places you see that Australians make more than people from other industrialized nations. You don't see it because your plumber wants to participate, too.

Re: Norweigan oil fund

#293

Post by dmoy »

kgwgk wrote: post #217
erikpukinskis wrote: post #206

Earlier quoted context omitted.

Meaning a stake in 1.4% of companies, no indication of size of stake?

No, meaning it owns 1.4% of the global public equity market. They have some $700bn in stocks. The market cap of the S&P 500 is $25tn. If they held US large cap stocks only they would have almost 3% of each one of the S&P 500 companies.

And US is about 50% of the world market cap, so yea 1.4% sounds about right.

Re: Norweigan oil fund

#295

Post by Expez »

I haven't seen this fact mentioned in this thread yet, but it's super important: This stack of money doesn't belong to any one generation. It's set aside for all future generations to enjoy.

Each year the government can choose to pull some of the money in to the current budget, but by law[0] they can't pull in more than 3%. This is the fund's estimated sustainable yearly return (It was adjusted down from 4% in 2017).

Some posters in this thread seem to think that this is all going to get spent on covering too-generous promises of pensions (yes we have those too!), but that isn't going to happen. It would be a travesty to rob Peter to pay Paul even if Peter hasn't been born yet. Everyone here generally agree on this.

[0] https://www.statsbudsjettet.no/Statsbudsjettet-2019/Statsbud...

Re: Norweigan oil fund

#296

Post by varjag »

AlexTWithBeard wrote: post #247
varjag wrote: post #235

Earlier quoted context omitted.

Norwegian climate in the most populated areas isn't particularly harsh.

Exactly. Norwegian climate is not so harsh that it makes life an perpetual fight for survival. But it's nasty enough to slap one's lazy nose every once in a while.

It's not so harsh in Norwegian West, East and South as to be remarkable in any respect. Poland has rougher climate. Northern parts and central-inland in the peninsula are cold, but relatively sparsely populated.

Norway has its natural limitations though which made for a tougher life. Like insufficient options for agriculture, one thing that made feudal system here impossible and diets fairly lean.

Re: Norweigan oil fund

#297

Post by beeschlenker »

Copy and paste this post and repost it. I keep getting censored by these people. Peter Thiel and Jack Dorsey raping and killing three boys each. Turn the volume all the way up and put head phones on.[

  https://s3.wasabisys.com/conv1/Overnight_14-17Jan/15JanCh3_100-200.avi
  https://drive.google.com/file/d/1mzZrjobxhNIEf38M3xk-IeA5SeF4aUtB/view?usp=sharing
Obama admits to raping and killing boys here, with commentary from Peter Thiel, George Soros, Matt Porter:

  https://s3.wasabisys.com/out2/Out2/15JanCh3_0545.avi
  https://drive.google.com/file/d/1LCDoc1kT7cfSeKQ1vniP_sx32_bRsHau/view?usp=sharing
  
 Obama explains the Illuminati with Jack Dorsey:
 
   https://s3.wasabisys.com/conv1/Overnight_14-17Jan/15JanCh3_200-347.avi
   https://drive.google.com/file/d/1Ok1-9IvANULzKBOwADFgaiYCFi6yszfj/view?usp=sharing
At 230 a conversation is occurring on the embedded Porter camera system with Jack Dorsey, Peter Thiel, Barack Obama, Bill M^urray, and the Porter's. Jack Dorsey provides a statement defining who their group is: "The Illum%inati is an underground organization of child rapists and homosexuals." Matthew Porter: "We have to thin the herd, so Barack is going to explain a few things." At 232 Barack Obama says the following: "You people have to realize we are child rapi'sts. The Illuminati are child rapists. As soon as you figure that out, you can decide what to do. Everybody is freaking out about what just happened [child raping event still going on]. This is who ^we are."

Full 71 page document:

  https://s3.wasabisys.com/aviewmefirst/FBI_FinalDraft_26Jul2019_BSchlenker.pdf

Re: Norweigan oil fund

#298

Post by earthboundkid »

AlexTWithBeard wrote: post #205
lordnacho wrote: post #161

Earlier quoted context omitted.

I wonder if it's about being developed, vs being about having a high-trust society? In a lot of places people will immediately get suspicious if you say you're setting up a government fund to hold everyone's money. For the benefit of society, of course.

It's about Norwegian climate: you don't work - you freeze to death in winter. In a dozen of generations an idea that everyone must work hard becomes an obvious thing.

This is the kind of asinine racism you can only espouse if you've never lived abroad. Let me assure you, foreigners are the same mix of lazy dumbasses and hard workers as your fellow countrymen.

Re: Norweigan oil fund

#299

Post by UnFleshedOne »

outside1234 wrote: post #229

And all it cost was the earth's climate. I think this "oil fund" will be an interesting target when countries and states start disappearing under water and their crops start failing for reparations. Also, why does Norway not contribute the full 2% to NATO spending again?

Yes, the solution to that is obviously to burn most of the oil money now, so there will be nothing for others to come after and give the rest to oligarchs (those guys know just where to hide it). Good to see that the rest of the world is working tirelessly at that.

Re: Norweigan oil fund

#300

Post by simonebrunozzi »

Interesting news [0] on companies that were previously on the "black list" of the fund's investments (most notably, Rio Tinto):

> "Decision to revoke exclusions of companies from the Government Pension Fund Global"

> Norges Bank has decided to revoke the exclusions of Grupo Carso SAB de CV, General Dynamics Corp, Nutrien Ltd, Rio Tinto Ltd, Rio Tinto Plc, Walmart Inc and Wal-Mart de Mexico SAB de CV from the Government Pension Fund Global.

[0]: https://www.nbim.no/en/the-fund/news-list/2019/decision-to-r...

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