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  • » Illegal gold mining now a bigger moneymaker than drugs for crime gangs

#1 2016-12-23 20:33:22

SpacePete
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Registered: 2014-03-01
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Illegal gold mining now a bigger moneymaker than drugs for crime gangs

The worst bad guys — narcotraffickers, right-wing paramilitary militias, left-wing insurgents, etc — are now into gold mining.  Can a war on gold can't be far behind?


"Gold has emerged as one of the best options to store value and even generate returns on investments in an era marked by a loose monetary policy in the developed world and a loss of faith in fiat currencies like the US dollar."

The full article lists the many evils associated with illegal gold mining.

Illegal gold mining has supplanted cocaine trafficking as Latin America's criminal endeavor of choice

For decades, the dominant image of organized crime in Latin America has been the drug cartel. But in recent years, for an increasing number of narcotrafficking groups—as well as right-wing paramilitary militias, and left-wing insurgents—illegal gold mining has become the real moneymaker.

According to a 2015 United Nations World Drug Report (pdf), Colombia's drug cartels make $1 to $1.5 billion a year in wholesale proceeds from both heroin and cocaine, whereas illegally mined gold earned smugglers in the country between $1.9 and $2.6 billion a year. The story is similar in Peru: the value of illegal gold exports, approximately $2.6 billion a year (pdf), now exceeds the value of cocaine trade—$1 to 1.5 billion annually—by a wide margin.

This modern-day gold rush has been fueled primarily by surging demand and subsequent skyrocketing prices over the last 15 years. Gold has emerged as one of the best options to store value and even generate returns on investments in an era marked by a loose monetary policy in the developed world and a loss of faith in fiat currencies like the US dollar. The price of gold peaked in October 2012, when a kilo was worth $57,000. Today, although prices have fallen considerably, a kilo of gold still sells for $37,000—compared to, say, the $1,000-2,000 per kilo wholesale price of freebase cocaine.

...

There's another key element of gold mining to the general public: illegal miners can earn $30 to $75 a day. That's not enough to get rich, but far more than an uneducated adult could earn farming in the surrounding highlands—and some local politicians have alleged that governments may not really be interested in shutting down illegal mining because it's providing jobs.In Peru, for instance, some politicians publicly claimed that the miners should be allowed to earn a living, arguing everyone has "the right to make end meets."

Full, in-depth article: http://qz.com/867104/illegal-gold-minin … of-choice/


Catus amat piscem, sed non vult tingere plantas

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#2 2016-12-24 16:28:42

Pirocco
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From: EUSSR
Registered: 2011-05-24
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

And that bigger money comes from... those buying it.


Silver won't save you if you act as clueless and careless as with your bank account.
Get in- not disinformed. Last is easiest, visit www.zerohedge.com & Co and hurry to their bullion shops.
Futures: http://forums.silverstackers.com/topic- … ilver.html #9
Central Banks inflict you less gold and fiat: http://forums.silverstackers.com/topic- … tners.html #19

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#3 2016-12-24 17:37:11

Ipv6Ready
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From: North Sydney
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

Just goes to show how common gold is and how much of it is out there. I doubt the drug cartels care about gold though, they will still prefer UD dollars. There is no loss of faith in UD currency, all that is pumper talk and trying to make gullible people believe.

Look at Stawell gold mine in vic, mined 32,000 ounces this year but closing down as there isn't enough gold to make it economical.


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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#4 2016-12-24 18:22:54

SpacePete
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

Ipv6Ready wrote:

I doubt the drug cartels care about gold though, they will still prefer UD dollars.

If only there was a way to convert gold into dollars. roll


Catus amat piscem, sed non vult tingere plantas

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#5 2016-12-24 18:56:06

Ipv6Ready
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From: North Sydney
Registered: 2016-01-08
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

SpacePete wrote:
Ipv6Ready wrote:

I doubt the drug cartels care about gold though, they will still prefer UD dollars.

If only there was a way to convert gold into dollars. roll

If your talking street level dealers buying from low end suppliers for tens of thousands yeah potentially, but Not easily done when you're talking in millions at mid level and tens or hundreds of millions at wholesale, gold would be a big hassle.


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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#6 2016-12-24 20:37:57

sfstacker
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

Ipv6Ready wrote:
SpacePete wrote:
Ipv6Ready wrote:

I doubt the drug cartels care about gold though, they will still prefer UD dollars.

If only there was a way to convert gold into dollars. roll

If your talking street level dealers buying from low end suppliers for tens of thousands yeah potentially, but Not easily done when you're talking in millions at mid level and tens or hundreds of millions at wholesale, gold would be a big hassle.

I've never smuggled drug money but I think two duffel bags full of money would be harder to transport than a kilo sized gold bar.

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#7 2016-12-24 21:26:21

betterlatethannever
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

Either way it still would be very very dangerous with cave in's let alone hyped up kooks wired on drugs with an AK47 being waved around the place all to put a meal on the table for your family,I am mainly talking about the diggers themselves.

A not so - Merry Christ - mas  sad


SPECIAL NOTE - Supporting The Nation Of Israel 100% Of The Time 100% - Shalom.

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#8 2016-12-25 17:36:55

FSF
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

sfstacker wrote:
Ipv6Ready wrote:
SpacePete wrote:

If only there was a way to convert gold into dollars. roll

If your talking street level dealers buying from low end suppliers for tens of thousands yeah potentially, but Not easily done when you're talking in millions at mid level and tens or hundreds of millions at wholesale, gold would be a big hassle.

I've never smuggled drug money but I think two duffel bags full of money would be harder to transport than a kilo sized gold bar.



A kilo of gold is roughly $40K USD but two duffel bags in $100 bills would be about $10 million.  You still think it's easier?

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#9 2016-12-25 18:14:13

sfstacker
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

FSF wrote:
sfstacker wrote:
Ipv6Ready wrote:

If your talking street level dealers buying from low end suppliers for tens of thousands yeah potentially, but Not easily done when you're talking in millions at mid level and tens or hundreds of millions at wholesale, gold would be a big hassle.

I've never smuggled drug money but I think two duffel bags full of money would be harder to transport than a kilo sized gold bar.



A kilo of gold is roughly $40K USD but two duffel bags in $100 bills would be about $10 million.  You still think it's easier?

http://demonocracy.info/infographics/us … _debt.html (3rd image)
It would be a lot easier to send a dozen indigenous farmers across a border on foot than 10mil worth of cash through an air port.

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#10 2016-12-25 18:44:22

FSF
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

sfstacker wrote:
FSF wrote:
sfstacker wrote:

I've never smuggled drug money but I think two duffel bags full of money would be harder to transport than a kilo sized gold bar.



A kilo of gold is roughly $40K USD but two duffel bags in $100 bills would be about $10 million.  You still think it's easier?

http://demonocracy.info/infographics/us … _debt.html (3rd image)
It would be a lot easier to send a dozen indigenous farmers across a border on foot than 10mil worth of cash through an air port.




Perhaps.  But why would those be the only respective choices?

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#11 2016-12-25 19:18:59

Ipv6Ready
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From: North Sydney
Registered: 2016-01-08
Posts: 2,086
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Re: Illegal gold mining now a bigger moneymaker than drugs for crime gangs

FSF wrote:

A kilo of gold is roughly $40K USD but two duffel bags in $100 bills would be about $10 million.  You still think it's easier?

150kg of gold, much easier to carry two duffle bags of $100 notes lol


Interested in a wide variety of low premium legal tender World Silver coins, average conditions is fine.
Will pay a decent premium for a variety different silver coins in single lots, not looking 10, 20 or more of same coins.
Note I tumble these to clean them before I put it in jars for display, so I dont want to buy any rare coins for preservation.

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