Like others involved with the Good Guys, Bolivia has been holding back on the nationalization of their mines until the TIME was right. Which is now! Investors in South American Silver Corporation should have read their Road to Roota for the past 3 years! Bolivia is in the process in pulling the plug…
Morales announced that he will nationalize major silver deposits
The Bolivian government withdraw the mining concessions awarded to the South American Silver Canadian company for the exploitation of silver deposits, indium and gallium Mallku Khota the hill, as agreed between government authorities and indigenous communities north of Potosi.
Agreement is reached, local communities agreed to free two engineers of the Canadian mining company and a police officer who had held for several days in order to pressure the government to listen to their demands to break the contract with South American Silver.
The Labor Minister Daniel Santalla, explained that the President Evo Morales is predisposed to reverse the mining concessions but that the decree will take several days due to legal and technical process should be launched for that purpose.
“Nationalize it is our obligation,” said Morales in the city itself Colomi in the department of Cochabamba (center), barely a few kilometers from the mine site in question.
This is a very big deal for many reasons. First, it will take away from the available physical supply. Second, it will scare silver investors away from owning shares and toward owning more physical silver. And most importantly, as nationalization begins sweeping the poverty stricken nations the BAD GUYS will be called to the table to prove that their COMEX shorts are legitimate hedges on mining production. Just more reasons the position limit rules will help our cause…NO MORE MASSIVE NAKED SHORTING! Jeffrey Christian’s justification for silver derivatives has just hit a brick wall. Think Barrick and their Pascua-Lama 200M oz hedge with Silver Wheaton in Chile & Argentina (I don’t trust the SLW business model at all…you shouldn’t either.)
There are rips and tears in the fabric that holds the Bad Guy’s monetary system together. When you add them all up you can easily see that their time of controlling our lives is almost over.
Will we be smart enough to choose the Right Road to travel forward on when this is all over?
I hope so.