Thursday, August 12, 2010

$1 trillion? Sure...

The US has announced the discovery of minerals apparently worth $1 trillion in Afghanistan – the IIPM Think Tank believes much of this made up value is balderdash and pure hogwash forwarded by the US

Have you heard about the jungle gold digger who announced to the world that he’s found the biggest gold horde underground? Never? That’s not too surprising, as not even a sophomoric mercenary would make the mistake of letting the world onto El Dorado if he found it first – unless, of course, he didn’t find it and simply wanted to conjure one up in order to boast to grandma back home. Or, of course again, the protagonist in question were the conscientiously incorruptible and trustfully industrious United States.

If those adjectives sounded oxymoronic, that’s basically the simple crux of this article’s argument. The recent June 2010 announcement by the US geological survey – a Pentagon study, if anyone expected any less – that they have stumbled onto $1 trillion and beyond of “untapped” mineral deposits (ostensibly iron, copper, cobalt, gold and lithium) in Afghanistan reminds one of the Great Game that was played between the British and the Russians for gaining influence in central Asia in the early phase of the 19th century.

The US is an old hand at peddling such so called discoveries for its mutual convenience – or at not peddling them. During the period that US took over Iraq, did one wonder even once that the Bush regime never gave official confirmation of the oil reserves in Iraq that the US was directly controlling and extracting? Rarely, as it was a given fact that US will siphon off oil money to pay for its war expenses and claims. The truth is, in February 2010, Agence France Presse had already quoted Karzai brandishing a US Geological Survey report that Afghanistan had $1 trillion mineral reserves. The flop attempt at global media publicity went unnoticed then. Clearly, Pentagon’s spin doctors were not too impressed by the February achievement, and re-branded the effort, training Karzai to repeatedly mention that the reserves were between $1 trillion to, hold your grandma’s horses, $3 trillion!

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2010.

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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