We all know that gold is only supposed to flow OUT of America. This doesn’t cut it.
At a U.S. Senate subcommittee hearing Thursday, Sen. Marco Rubio called illegal gold mining in Latin America a “direct threat” to U.S. national security that has become “far more lucrative than drug trafficking” — and noted that billions of dollars worth of the illicit precious metal is entering American consumer markets through Miami.
“There is a major human toll if we do not get control of this problem,” said Rubio, citing a cornucopia of evils unleashed by illegal mining including human trafficking, corruption, disease, mercury poisoning, drug smuggling, widespread deforestation in the Amazon basin and the enrichment of powerful criminal groups and rogue governments like Nicolás Maduro’s regime in Venezuela.
But American consumers are scooping up gold with little awareness of where it comes from or who gets hurt. The metal is used not only by the jewelry industry but also in electronics such as smartphones and tablets. Rubio said 58 percent of imported U.S. gold comes from Latin America. Miami International Airport, the closest U.S. port to Latin America, has long been the nation’s leading gateway of gold.
It’s almost like the people want a gold standard or something. I wonder why? It surely couldn’t be the Fed continuing to flood the world with fiat. Every day, the same headline.