The UN and environment activists will continue to rage impotently against the destruction of Earth’s climate. The worlds politicians are willing to let extinction of humankind take place. The one percent superrich elite is more interested in even more money, than the survival of their children and grand-children. The superrich control CO2 emissions, the yearly 9 million tons plastic waste which are dumped into the oceans and the destruction of key-habitats. They do not care about anything or anyone, but more money.
LatAm INVESTOR is The UK's only Latin America-focused investment magazine and it is symptomatic for the “Oh, let’s destroy the environment while we get richer” mentality. Invest and make another billion you don’t need.” This sick mentality is mirrored in the article; Now it is a Great Time to Invest in Latin American Mining.
The introduction to this article shows an inane lack of reality perception. The writer’s point of view is a beautification of what really happened more than 500 years ago. I'll put a part of the article close to a mirror and rewrite the fairy tale.
Fairytale
For centuries Latin American mining has captivated international investors. Tales of Birú, a magical gold-laden land that we now know as Peru, were enough to convince Spanish conquistador Francisco Pizarro to lead a risky expedition against the Incas. In the short-term the mission was an outstanding success with Pizarro ransoming captured Inca emperor Atahualpa for 13,000 pounds (lbs) of gold and twice as much silver. In today’s prices that is almost $3billion worth of gold though the silver comes to a paltry £6million. In the following years waves of fresh investors scoured the region looking for similar pots of gold but often with less success. The mythical El Dorado, for example, first believed to be a king, then a kingdom, finally turned out to be a waste of time and money for the British, Spanish and German investors that backed expeditions to find it. July 8, 2019
Real life
For centuries Latin American mining has captivated international exploiters. Tales of Birú, a magical gold-laden land that we now know as Peru, were enough to convince Spanish conquistador and killer, Francisco Pizarro to lead a raid against the Incas. In the long-term the Spanish invasion was a catastrophe for the native population. Pizarro ransoming captured Inca emperor Atahualpa for 13,000 pounds (lbs) of gold and twice as much silver. In today’s prices that is almost $3billion worth of gold though the silver comes to a paltry £6million. In the following years waves of greedy and plague spreading Christians scoured the region looking for gold they could steal, but often with less success. The mythical El Dorado, for example, first believed to be a king, then a kingdom, finally turned out to be a waste of time and money for the British, Spanish and German robber barons ;-) that backed expeditions to find it.
For centuries Latin American mining has captivated international investors. Tales of Birú, a magical gold-laden land that we now know as Peru, were enough to convince Spanish conquistador Francisco Pizarro to lead a risky expedition against the Incas. In the short-term the mission was an outstanding success with Pizarro ransoming captured Inca emperor Atahualpa for 13,000 pounds (lbs) of gold and twice as much silver. In today’s prices that is almost $3billion worth of gold though the silver comes to a paltry £6million. In the following years waves of fresh investors scoured the region looking for similar pots of gold but often with less success. The mythical El Dorado, for example, first believed to be a king, then a kingdom, finally turned out to be a waste of time and money for the British, Spanish and German investors that backed expeditions to find it. July 8, 2019
Real life
For centuries Latin American mining has captivated international exploiters. Tales of Birú, a magical gold-laden land that we now know as Peru, were enough to convince Spanish conquistador and killer, Francisco Pizarro to lead a raid against the Incas. In the long-term the Spanish invasion was a catastrophe for the native population. Pizarro ransoming captured Inca emperor Atahualpa for 13,000 pounds (lbs) of gold and twice as much silver. In today’s prices that is almost $3billion worth of gold though the silver comes to a paltry £6million. In the following years waves of greedy and plague spreading Christians scoured the region looking for gold they could steal, but often with less success. The mythical El Dorado, for example, first believed to be a king, then a kingdom, finally turned out to be a waste of time and money for the British, Spanish and German robber barons ;-) that backed expeditions to find it.
Fairytale
After Latin American countries gained independence, roughly 200 years ago, international mining investors had to change their approach. But the lure of Latin America’s mining sector remains just as strong. It has the planet’s largest reserves of copper, lithium and silver with plenty of gold to boot. While modest local demand – it has less than 10% of both world population and GDP – makes it a natural exporter. The region’s metal wealth is nothing new – just ask Pizarro – but what has changed are the conditions above ground. Latin America has emerged as a mining-friendly jurisdiction with a wide range of international mining companies listed on Canadian, US, Australian and British stockmarkets. The development of solid democracies across the region since the 1980s has allowed many Latin American countries to finally develop fair systems to manage international mining investment. Of course, profiting from mined metals is a risky business – Pizarro ended up being hacked to death, spending his final moments daubing himself with a cross in his own blood. But from solid, London-listed majors producing a steady flow of earnings, to aspirational explorers looking for that next big find, Latin America has plenty to offer MoneyWeek readers.
Real life
After Latin American countries gained independence, roughly 200 years ago, international mining exploiters had to change their approach. But the lure of Latin America’s mining sector remains just as strong. It has the planet’s largest reserves of copper, lithium and silver with plenty of gold to boot. While modest local demand, based on inabilities to refine the raw materials and a modern industrial base, Latin-America has less than 10% of both world population and GDP – makes it a natural exporter. The region’s metal wealth is nothing new – just ask Pizarro and the murdered local inhabitants. But what has changed are the conditions above ground. Latin America has emerged as a mining-friendly jurisdiction with a wide range of international exploiting mining companies listed on Canadian, US, Australian and British stockmarkets. The development of weak democracies and the destruction of the Rain forest across the region since the 1980s has allowed many Latin American countries to finally develop exploitative systems to manage international mining investment. Of course, profiting from mined metals is a risky business – Pizarro ended up being hacked to death, spending his final moments daubing himself with a cross in his own blood. But from solid, London-listed majors producing a steady flow of money and resources out of Latin-America, to aspirational exploiters looking for that next big find and devastation of the land, Latin America has plenty to offer MoneyWeek readers and nothing to offer the survival of mankind.
After Latin American countries gained independence, roughly 200 years ago, international mining exploiters had to change their approach. But the lure of Latin America’s mining sector remains just as strong. It has the planet’s largest reserves of copper, lithium and silver with plenty of gold to boot. While modest local demand, based on inabilities to refine the raw materials and a modern industrial base, Latin-America has less than 10% of both world population and GDP – makes it a natural exporter. The region’s metal wealth is nothing new – just ask Pizarro and the murdered local inhabitants. But what has changed are the conditions above ground. Latin America has emerged as a mining-friendly jurisdiction with a wide range of international exploiting mining companies listed on Canadian, US, Australian and British stockmarkets. The development of weak democracies and the destruction of the Rain forest across the region since the 1980s has allowed many Latin American countries to finally develop exploitative systems to manage international mining investment. Of course, profiting from mined metals is a risky business – Pizarro ended up being hacked to death, spending his final moments daubing himself with a cross in his own blood. But from solid, London-listed majors producing a steady flow of money and resources out of Latin-America, to aspirational exploiters looking for that next big find and devastation of the land, Latin America has plenty to offer MoneyWeek readers and nothing to offer the survival of mankind.
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