Currently Ranked #71 in Prosperity (even below Mexico) Ecuador’s New Government Has Radical Plans to Monetize it’s God Given Natural Resources (Cooper, Gold, Silver) for the First Time Since the 1500’s – for the Benefit of its Citizens.
No surprise that Europe is leading the world when it comes to prosperity as illustrated by the latest edition of the Legatum Prosperity Index, an annual assessment of the drivers of prosperity in 149 countries. European countries take most of the top spots on the list.
Come here once a year, to watch Ecuador climb this index as it begins to exploit an estimated 23 million ounces of Gold worth an estimated $32 Billion (in the Northern region of Ecuador alone) at today’s prices ($1400), providing billions of taxable revenues via underground mining over the next 49 to 66 years! This is just the first project with many more to come.
ECUADOR VOLCANIC ROCK MAP
RELATED: Ecuador: The Largest Gold Rush in History?
VALUE OF 23 MILLION OUNCES OF GOLD TODAY AND IN THE FUTURE
It’s anyone’s guess at what price Gold will be selling at in 2025 or 2035, but most experts agree that with mounting deficits worldwide which aren’t going away (in fact they’re getting larger) that prices could be headed higher for decades to come – all to Ecuador’s benefit.
Note, had Ecuador exploited these resources 50 years ago in the 1960s when Gold was selling for a mere $35 an ounce, the value would have been only $805 million, which would have been sad. Because once it’s gone, it’s gone, you can’t put it back in the dirt.
So Ecuador’s decision to wait 50 years until 2018 to start drilling; is either one of the most brilliant moves or strokes of luck in the history of modern Government!
Viva Ecuador, Viva Gold $10,000!
- @ $1,400 OZ = $32 Billion
- @ $2,400 OZ = $55 Billion
- @ $3,400 OZ = $78 Billion
- @ $4,400 OZ = $101 Billion (Equal to GDP from all sources)
- @ $5,400 OZ = $124 Billion
- @ $6,400 OZ = $147 Billion
- @ $7,400 OZ = $170 Billion
- @ $8,400 OZ = $193 Billion
- @ $9,400 OZ = $116 Billion
- @ $10,000 OZ = $139 Billion
To put prosperity into perspective, note Ecuador only has 16 million residents (a tad bigger than the State of Pennsylvania) and a GDP of $103 billion with the majority (40%) coming from Oil as an OPEC member. Followed by $3.1 billion in bananas, $3 billion in shrimp and $846 million in cut flowers.
Is the decision the mine this Gold that has been sitting in the ground (typically near volcanoes) for the past 5 million years, just a few years ago a big deal?
OH HELL YEAH!
ECUADOR GDP GROWTH – PREVIOUSLY POWERED BY OIL
RELATED: During the formation of Earth, molten iron sank to its center to make the core. This took with it the vast majority of the planet’s precious metals — such as gold and platinum.