Thanks for the historical perspective. Something we see all to little of in current analysis of 'Fast Track' mining. The long term consequences of these sorts of initiatives are simply dismissed or played down. Short term profit - perhaps - but as this example demonstrates , the long term costs will have to be picked up by our grandchildren.
The macroeconomist Randall Wray argues that we should "free the gold". By that, he means that the thousands of tons of gold sitting in central banks (actually Fort Knox), doing nothing, should be released (perhaps slowly?).
That gold is sitting there, already mined, in some secure location, while we are ravaging the environment to dig more up. This seems about on par for the [lack of] wisdom of our current political leadership, and on par for the current level of [in]efficiency of capitalism.
Thanks for the historical perspective. Something we see all to little of in current analysis of 'Fast Track' mining. The long term consequences of these sorts of initiatives are simply dismissed or played down. Short term profit - perhaps - but as this example demonstrates , the long term costs will have to be picked up by our grandchildren.
😱Appalling all around up to & including today 😡
Another great article!
The macroeconomist Randall Wray argues that we should "free the gold". By that, he means that the thousands of tons of gold sitting in central banks (actually Fort Knox), doing nothing, should be released (perhaps slowly?).
That gold is sitting there, already mined, in some secure location, while we are ravaging the environment to dig more up. This seems about on par for the [lack of] wisdom of our current political leadership, and on par for the current level of [in]efficiency of capitalism.