Bullish for physical gold and silver, bearish for mining firms.
After a decade-long legal battle, exploration activities and mining development are effectively banned on 45 million acres of national forests in the United States.
The U.S. Supreme Court’s refusal Monday to hear an appeal by the Colorado and Wyoming Mining Associations to strike down the 2001 Roadless Area Conservation Rule, prohibiting most roads on 45 million acres of national forests, effectively bans mining development and exploration access on these lands.
The Colorado Mining Association had argued the rule “is a sweeping usurpation of the authority vested solely in Congress to designate lands as wilderness.”
The mining associations asked the high court to overturn a decision last year by the 10th U.S. Circuit Court of Appeals, which upheld the Clinton Administration-era rule and reversed a Wyoming U.S. district court’s ruling that the rule had created de facto wilderness and violated the National Environmental Policy Act.
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no doubt a tip of the hat from Barack, courtesy of the lap dog Supremes, to his homie Soros for his hundreds of millions in GLD holdings. HAHA
The bureaucrats continue to make the Great Recession worse and worse!
The longer term problem remains that the majority of the U.S.’s natural resources like aluminum, steel, copper and rare earths metals must be imported. So we’re more dependent on foreign countries. The big winners with this ruling are countries like China, Russia, Australia and Latin America. They’re probably uncorking the champagne bottles about right now.
This ruling means more jobs are shipped overseas, plus more money is shipped overseas to buy the raw materials our plants still need to produce. It takes our country one step closer to being like Japan which has few natural resources and must import almost all of its raw materials. Maybe someone should check out Japan’s economy and find out how that’s working out for them? And what of drag on the economy is importing almost 100% of their raw goods creating?
Another effect this has is it kills mining investments in the U.S. Who is going to invest in a mining operation after this ruling?
Didn’t you know? The elites need to have some pristine, natural areas left over to hunt & fish when they finish killing the rest of us off. There are certain “sacrifice zones” it is OK to poison, like Bhopal, but then there are the wild, unspoiled preserves set aside for the elite. All the land in the World Wildlife Fund is effectively owned by the British royal family and not for peasants to ruin!
Perhaps it’s time for the States to tell the feds to go back to their 10 square miles in the District of Criminals.
I can see protecting some wilderness from destruction. If we don’t there won’t be any left that isn’t logged and mined into ruin. But this goes to far, there has to be a balance. And some logging of diseased and dying trees is a good thing instead of letting them die then burn the next time there is a lightning strike.
You Americans should be happy about this. Not because it’s going to save lives of millions of animals but because if SHTF, all you have to do is go inside these forests and start a new life. If the all forests are gone in the USA, you won’t be able to survive well when SHTF.