How We Traced U.S. Government Gold to a Drug Cartel
The New York Times • • business
Key Points:
- By December 2023, gold prices surged to $2,000 an ounce, driven by investor fears of terrorism, wars, financial instability, and disease.
- Illegal gold mining in regions like the Sahel and the Amazon has been linked to fueling violence, instability, and environmental destruction.
- The author investigates whether the demand for gold by wealthy investors and institutions inadvertently supports conflict and criminal activities.
- Major gold suppliers in the U.S. and Europe have strict policies to avoid sourcing gold from illegal mining, with the U.S. Mint legally required to use only domestically mined gold for investor coins.
- Initial reporting suggested that reputable institutions likely do not purchase gold linked to criminal or terrorist activities, challenging the notion that gold hoarding directly contributes to instability.
