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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 408.69

+2.6%

Jan 5 4:00 PM EST

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To: elmatador who wrote (54400)	9/2/2009 5:33:24 PM
From: carranza2	2 Recommendations of 219003

I remember when, in the late 1970s, Mexico discovered huge amounts of oil. Probably of the Tupi field size, perhaps larger, and a lot of it onshore or easily accessible offshore. The spin then was similar to what the spin about Brazil is now. A brand new day! End to poverty! BMWs for everyone! Yeehaw! Then the corrupt Mexican system and declining oil prices derailed everything. You cannot deny that corruption in Brazil is substantial and a serious problem. Corruption will kill off all the riches oil might bring to Brazil. And it definitely exists, even at Petrobras: bloomberg.com Don't count your blessings yet. They can disappear quickly. Lots of oil is a curse for a country, the worst thing that can happen to it [unless, like Norway, the country and its society is imbued with the correct Virtuous Victorian Scottish-Viking-Celto-Anglic Values]. I'll let you figure out why.

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