He'll be controling about 15% of the worlds silver supplies.
That's good for silver, bad for silver miners in Peru.Chavez pretty much destroyed prospects for gold/silver mining in Venezuela.Look for less silver mining in Peru.
Investors are already pulling their money out, I'm suprised silver is not up $5 bucs already. Less investment means lower production, means higher prices. News just came out, give it some time to sink in.
Silver is not as powerful a tool as oil. This guy is no Chavez and probably wont be able to thumb the nose of sectors that help sustain the whole country.
Peru ETF down 12%.