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Peru is another rich country insisting on being poor and pockmarked - Chris Powell - GATA

The argument that a low gold price contributes to the environmental ravages of artisinal mining is specious. If anything, the opposite is true: a high gold price will encourage artisinal miners, leading to an overall increase their activity and its extension to more marginal areas. Only an effectively enforced permitting system, based on well-defined property rights, can prevent further damage. A free-for-all is a mining version of the "tragedy of the commons". Unfortunately, there is no ideologically pure free-market solution here. Tough and unpopular policing will have to be undertaken, or at least threatened, to get out of the present mess.

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Début de l'article :National Public Radio today broadcast and published a long report about the environmental devastation done by wildcat gold miners in Peru, a phenomenon common throughout the part of the developing world that has mineral resources: http://www.npr.org/sections/goatsandsoda/2015/05/17/398765777/who-did-th... What the NPR report missed is that this devastation is to a great extent the consequence of gold price suppression by Western central banks. Yes, while the extractive industries are the prereq... Lire la suite

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