View Full Version : Blame Peru

8th July 2011, 20:38
I saw that election and wondered if everyone was to busy with new clinton weiner triangle to notice.

from the AP

Peru's the problem

Mining stocks tanked Monday, and it wasn't because of weaker metals prices. Blame Peru.

Ollanta Humala won the country's presidency, and the leftist former army officer talked early in the campaign about higher taxes and royalties on businesses. Peru's stock market dropped 12.4 percent Monday, the day after the election, on worries he will be anti-business.

Peruvian mines produce about 7 percent of the world's copper and 16 percent of its silver, says Deutsche Bank. Standard & Poor's says it's too early to change its ratings on Peruvian companies.

What is Truth?
8th July 2011, 20:44
That would only tend to drive up the price of physical metals. The problem with mining stocks is that $hit happens with them that has nothing to do with the metals.

8th July 2011, 21:04
I did not mean to imply that Peru is a problem, or that I trust the AP to know what is really going on

I was thinking more of the "blame canada" song with the title

Many people were taken by surprise with the results of that election.

P.S. l am still waiting for that Palladium thread you promised :)

What is Truth?
8th July 2011, 22:09
Look for it in the other topics current events forum. Silverheartbone wanted it too. Lol