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View all search resultsIndonesia must brace for a global liquidity storm of historic proportions. With the traditional "central bank put" now missing, the nation's survival depends on fortifying its economic ship before the waves of capital flight reach our shores.
Unlicensed gold mining operations are fueled by a financial network of colossal scale, with suspected funds circulating within the business field estimated at Rp 992 trillion (US$59.09 billion), according to the Financial Transaction Reports and Analysis Center (PPATK).
An environmental NGO has called for an overhaul of the sector after at least 15 artisanal gold miners were killed in accidents this month alone, while the national anti-money laundering has highlighted that the illegal activity led to billions of dollars in losses over the past two years.
Gold ETFs offer a modern solution to the strucutural hurdles of accessibility and liquidity as regards traditional gold investment in Indonesia, ensuring securty for all investors as they turn to safe-haven assets amid ongoing economic fragility.
Riau Governor SF Hariyanto said small-scale mining in Kuantan Singingi must be urgently brought under control to safeguard the Kuantan River, a vital water source for the province that supports around one million people. The river has long been polluted by illegal gold mining, which uses hazardous chemicals such as mercury in the extraction process.
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