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
- Hull of Confederate Submarine H.L. Hunley Found 150 Years Later
- U.S. Textbook Skews History, Prime Minister of Japan Says
- Recalling a Film From the Liberation of the Camps
- Skull Fossil Offers New Clues on Human Journey From Africa
- Are crude conspiracies right? Research shows nations really do go to war over oil
- Ronald Suny says historians have shied away from exploring the roots of the Armenian genocide for fear of taking attention away from the victims
- Columbia University professors Eric Foner, Alan Brinkley, and Alice Kessler-Harris to retire
- A powerhouse appropriations subcommittee is now headed by a historian: Republican Rep. Tom Cole (OK)
- Slavic scholars divided over a scholarship sponsored (and withdrawn) by Stephen F. Cohen
- Claire Strom to Step Down as Editor of Agricultural History