Niall Ferguson: Copper Is King
Copperfinger doesn’t have the same ring as Goldfinger. Nor would you be very impressed by a man with a copper gun.
Copper isn’t glamorous. Unlike gold, it is not likely to be recommended as an investment by Glenn Beck. Yet, before and after the financial crisis, copper has been one of the world economy’s star performers.
Sure, you were smart if you bought gold at the bottom of the financial crisis, back in February 2009. With gold touching a record $1,500 an ounce last week, you’re up 75 percent. But if you’d bought copper, you’d be up 181 percent.
Today the world’s copper mines are booming. I spent several hours last Tuesday sweltering nearly a mile underground at the huge Konkola mine near Chin-go-la in Zambia. It’s a powerful symbol of the new economic world order. The miners are Zambians. The technical guys are (white) South Africans. The owners and managers are Indians....
comments powered by Disqus
- Joan Baez, Sly Stone, Steve Martin, Ben E. King -- all honored by the Library of Congress
- StoryCorps to Launch Global Expansion With $1M TED Prize
- Hofstra Event Looks at Bush Presidency
- Did Israel steal uranium from a town in Pennsylvania in the 1960s?
- Sequel to Nelson Mandela's Long Walk to Freedom to be published next year
- Timothy V Johnson Named Head of Tamiment Library
- History Camp "unconference" returns for the second year in Boston
- History Department at Connecticut College deplores Facebook post on Palestinians
- Historians join other scholars in protesting Georgia's anti-gay legislation
- Homeland Security historian builds winning case against Salvadoran leader who oversaw crimes