Great times ahead for El Salvador if this ends up being a reality.
According to Salvadoran President Nayib Bukele, his country is sitting on a gold mine.
A literal gold mine!
With up to $3 trillion in gold!
And it's just waiting to be dug up, so he's going to lift the country's mining ban.
Seven years ago, El Salvador made global headlines as the first country in the world to ban all metal mining. The decision was hailed as a victory for environmental protection, celebrated by local communities, environmentalists and even the Catholic Church.
That was then.
President Nayib Bukele is now calling for a reversal of the landmark ban, claiming that beneath the country's fertile soil lies an untapped fortune. According to Bukele, the small Central American nation sits atop an estimated $3 trillion in unmined gold reserves — a potential jackpot that could radically transform El Salvador's financial future.
Yeah, the libs worked overtime in El Salvador to assure it remained a poor country -- oh, and to "save the planet" too.
But, rejecting all things woke and lib, El Salvador has the most based ruler on Earth, so you know he's going to start digging to see what he can find.
'We potentially have the largest gold deposits per square kilometer in the world,' Bukele declared on the social media platform X (formerly Twitter). He claimed that extracting just 4 percent of the country's gold deposits could generate approximately $131 billion, a sum equivalent to 380 percent of El Salvador's current GDP.
'God placed a gigantic treasure underneath our feet,' Bukele wrote, calling the 2017 mining ban 'absurd.'
Now, this may be bluster from Bukele. No reports have been released on the gold deposits yet, and Bukele is simply proposing that they begin "responsible mining" so as to cause minimal environmental damage.
For Bukele, however, the push to reopen mining is part of a broader ambition to overhaul El Salvador's economy. His administration is already known for what he calls a 'security miracle,' which has seen the mass incarceration of more than 80,000 Salvadorans accused of gang affiliation since March 2022. Now, he aims to replicate that same top-down approach to the Salvadoran economy.
If his economic plan is half as successful as his efforts to clean up the streets of El Salvador, this is going to pay off in a huge way!
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