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CRIES FOR NATIONALIZATION ARE ON THE RISE:
The Contradictions of Global Capitalism Are Not
Sustainable.
As Mining Companies' Exploitatation,
Repression and
Environmental Degradation Worsen amidst and
despite
Rising Precious Metals Prices.
As a result, Tiger's Recommendatiion:
Play GLD, SLV or domestic Gold producers like ANV.
Stay
Long Gold, Silver and Platinum Stocks only so long
as
their Prices are rising faster than the DJI.
August 19, 2012
South Africa Police Say They Killed 34 Miners and Wounded 78
at Lonmin Platinum
Mine. Video recordings show the protesters were not attacking the
police but
running from clouds of tear gas.
Why the strike?
The miners had demanded higher wages and better work conditions for years.
An indepoendent
investigation had previously concluded that "Lonmin had a bad track record
with
high levels of
fatalities and keeping workers in "very poor living conditions."
According to the report
released Tuesday, workers often live in deteriorating shacks without electricity.
Some children suffer
from chronic illnesses due to sewage spills caused by broken drainage."
http://www.huffingtonpost.com/2012/08/17/south-africa-police_n_1796082.html
South
Africa Lonmin killings: 'We are so angry'
"There are
police there, masses and masses of them. They are there not to protect the lives
of people,
but the
property of the mine. (Sounds like a lot of
American Labor history.) We are so angry.
They don't
treat us like people. Lonmin has done nothing for the local community. They take our
platinum
and enrich themselves but where is our royalty money going? We don't have tar roads and
our youth
are unemployed. They cut off our water supply every day during the day. The water comes
back only
late at night. Then we have to fill the tanks and the b+uckets to have enough water for
the next
day. The
water stinks and we have to buy purified water. "
The Lonmin Mines are platimum mines. Platinum has
been in a long price slump.
Much of the
world's platinum mines goes into the making of catalytic converters for autos.
A typical
converter has more than $100 worth of platinum in it. The Auto Industry has been
slow to
recover from the Bankers' Panic of 2008.
Speculators
have been been hurt by falling prices for more than a year. LONMIN's stock has
looked
until a few days ago like a good short sale for a long time. Insiders (see the
very red
Distribution)
and Professionals (see the falling blue Closing Power) have been steadily selling
until very
recently since early 2011.
LONMIN
2011
LONMIN
2011-2012
Recent Precious Metals' Rally Has Not
Included Lonmin
Platinum
along with other precious metals have just turned up sharply because the Europeon Central
Bank
andFederal Reserve have switched to
very aggressive bond and mortagage buying programs to stimulate
their economies. These
policies are meant to be inflationary at a time when deflation risks are
high. Platinum, Gold
and Silver have soared, but Lonmin has fallen. Foreign exploitation of South
African resources is failing the
locals and investors. Nationalization is a much better solution to
deveopment needs than foreign
corporate control and exploitation of the people and resources
in such desperate situations.
The horrors of Lonmin's exploitation and mass murder for those who
complain guarantees labor
unrest wil spread in South Africe. I would not invest in South African
mines. Or those in South
America, for that matter. Buying Gold, Silver or Platinum is a lot safer
and more humane, too.
. 
Gold and Silver Are Rising, But Mining Stocks
Like NEM
Are
Provoking Rising Demands for Nationalization.
On August 24th, NEM's Richard
O'Brien, CEO of Colorado-based Newmont Mining Corp. admitted
that jis company would have
to stop its plans to invest $5 billion into the "Conga" gold and copper project
in Cajamarca, Peru.
The reason: rising labor unrest and calls for nationalization.
"A new 48-hour paro
(civil strike) has been
declared to oppose the Conga project in Cajamarca region, which remains under a
state of emergency because of
the hatred local people feel for NEM because of its low wages and
the environmental damage it
has caused. To kick off the strike Aug. 22, hundreds of campesinos marched
in the province of Bambamarca, in
defiance of a ban on public protests. The marchers were mostly ronderos
(members of the self-defense
patrol) the outlying village of El Tambo, which is within the impact zone
of the proposed mine. The
campesinos held a gathering at Laguna Namococha, one of the highland lakes
that would be degraded by the
project." (Source)
Peru
clash over Newmont mine kills three | Reuters
In
Latin America, nationalism stumps Canadian mining companies
Newmont
mine 'on back burner'-Peru cabinet chief - Worldnews.com
Mining
sector feels heat as Peru turns left
Indonesia
limits foreign ownership of mines
Bolivia nationalizes the
Colquiri zinc and tin mine,
AEMFC:
South Africa’s state owned miner
PAAS:
Provides Update on Bolivia Nationalization Threat
bolivia
threatens nationalization - Yahoo
NEWMONT's ARSENIC POISONS BOLIVIA: JUST AS IT HAS INDONESIA, ROMANIA, GHANA, MONTANA, NEVADA
Watch the Relative Strength Line: NEM/DJIA.
When it stops rising, NEM may not be safe. 