Despoliation of the environment, high finance, mountain top removal
Two articles that need your attention: one, in the Wall Street Journal, Trader Holds $3 Billion of Copper in London, which describes how some trader is sitting on 80-90% of circa 50% of the world’s exchange-registered copper stockpile, squirreled away in a London warehouse. We don’t think a lot about where those metals come from.
Which brings me to the second article, in the Neue Zürcher Zeitung: Obama-Effekt erreicht Bergbau und Banken. The article looks at the involvement of Swiss banks in financing companies like Massey Energy – companies engaged in environmental despoliation of a scale that’s hard to imagine. It’s called “mountain top removal”…
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Watch iLoveMountains‘ video, above. Check out their website.
This is where (and how) we get our resources.
There’s got to be a better way.
Below, image of a landscape wrecked by copper mining, via Wall Street Journal article:
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