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Jul 12 2021 02:24pm
Looks like peru is about to undergo a revolution. Any wagers on the outcome for the country?

https://www.nbcnews.com/news/latino/perus-urban-elite-panics-socialist-looks-set-clinch-presidency-rcna1197

Peru’s elite panics, stashes cash as a socialist looks set to clinch presidency

"All of my friends have taken their money abroad, I don't know anybody who hasn't withdrawn their money," said one Lima attorney. "It's collective hysteria," says an artist.

...

During campaigning, Castillo pledged to sharply hike taxes on mining in the world's no. 2 copper producer to pay for social spending and redraft the constitution to give the government more muscle in running the economy. He has also hinted at potential land reforms.

Fujimori's conservatives were quick to play up fears about the rise of "communism" and to stir up old ghosts of land grabs and a Venezuela-style collapse. Lit-up signs appeared in the capital warning, "Think about your future, say no to communism." They did not mention Castillo by name and no-one has claimed responsibility.

"(Castillo's) party is Marxist-Leninist. He says he will change the constitution, that he will carry out expropriations. So if he does all that, it shouldn't come as a surprise," Alfredo Thorne, a former finance minister, told Reuters.

As his victory looked more likely in recent weeks, Castillo softened his rhetoric, rebuffing comparisons to authoritarian leftists like Venezuela's Hugo Chavez. He has brought on board more moderate advisers, played up a pro-market message, and denied that he plans to nationalize or expropriate savings.

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Jul 12 2021 04:14pm
Your article is from mid-June. Castillo has indeed won and is scheduled to be inaugurated on July 28. No idea how this will play out. I doubt that a full-blown communist takeover will be possible in a country where a far-right candidate received 49.87% of the vote. Castillo simply doesn't have a mandate to carry out radical, systemic change. Also, since the country's elites are aligned with Fujimori, the majority of the power brokers or power centers in the country are presumably against him.
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Jul 12 2021 04:36pm
Quote (Black XistenZ @ Jul 12 2021 03:14pm)
Your article is from mid-June. Castillo has indeed won and is scheduled to be inaugurated on July 28. No idea how this will play out. I doubt that a full-blown communist takeover will be possible in a country where a far-right candidate received 49.87% of the vote. Castillo simply doesn't have a mandate to carry out radical, systemic change. Also, since the country's elites are aligned with Fujimori, the majority of the power brokers or power centers in the country are presumably against him.


time to buy copper stocks

This post was edited by theCrossbones on Jul 12 2021 04:37pm
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Jul 12 2021 08:10pm
well time to make money out of these communist chums i guess. Let the world see this abomination trying to turn everything into a dark void
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Jul 12 2021 08:51pm
Not sure how nationalising resources is a bad thing, if anything its common sense and my country should have done it 30 years ago.
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Jul 13 2021 04:15pm
Quote (Plaguefear @ 13 Jul 2021 04:51)
Not sure how nationalising resources is a bad thing, if anything its common sense and my country should have done it 30 years ago.


It's only common sense if you are actually interested in sharing the revenue/wealth with your country's underclass.

This post was edited by Black XistenZ on Jul 13 2021 04:16pm
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Jul 13 2021 04:17pm
Quote (Black XistenZ @ Jul 14 2021 08:15am)
It's only common sense if you are actually interested in sharing the revenue/wealth with your country's underclass.


Very much agree.
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