According to the Department of Labor, gold is produced in 17 countries by child labor or forced labor. The countries include: Bolivia, Burkina Faso, Colombia, Demographic Republic of the Congo, Ecuador, Ghana, Guinea, Indonesia, Mali, Mongolia, Nicaragua, Niger, North Korea, Peru, Philippines, Senegal and Tanzania
Our friend, Max Keiser has a slightly different take: What's more exploitive, the US dollar or Gold mining?
I say "slightly" there because he does readily admit to gold exploiting child labor and also being environmentally very damaging.
Well, I think about the corporate attacks on WikiLeaks and many WikiLeaks supporters calling for boycotting Amazon.com, PayPal, VISA, and now Bank of America. This blog takes donations via PayPal. It pays it's bills automatically via VISA. It banks at BofA. It sells the occasional item on Amazon and gets an affiliate commission. Now, the U.S. government is going after Julian Assange with a vengeance. What's next, don't pay taxes? Frankly, if we take connections to the extreme, we end up with survival in the wilderness trying to outrun the hi-tech system that will sense us from remote sensors anyway. It really is "1984."
So, what are we to do about gold investing vis-a-vis child labor and environmental degradation?
I suggest Max Keiser start a new gold exchange called The Ethical Gold Exchange. He can take steps to certify gold that comes from a system that uses no child or forced labor, that pays employees a living wage and does other good things toward them, and that engages in environmentally safe mining, etc. That gold would be valued at a premium just as organic food is now.
If he can't put that together what with his background and connections and resources, maybe he should think about resigning himself to 1984. I'd rather he didn't though.
Would I invest in Ethical Gold? If holding Christian Commons Land and Building Fund "money" in Ethical Gold would be better than in our ING saving account, perhaps. Of course, the Commons plan is organic farm land and vertical indoor farming and the like. So, it would only be temporary.
I have nothing against the metal, gold, per se. I only have disdain for the greediest of the greedy behind blood-and-slave gold.
What do you think, Max? Would Putin hear you? Are you listening Vladimir? We're giving away great ideas for free here. The only thing on the line is everyones' soul.