Responsible Resources & Roots Engagement Zürich—Helsinki—Toronto

Reviewing the fascinating Exhibition at the London, Beyond , March 2014

The Mirror of El Dorado: in Ancient

Guests The London exhibition marked roots of El Dorado, “the the bridge over the business Golden One”, and the ancient “Over the mountains years 2013/2014 in an inter- burgh of Gold. In front of Of the Moon, esting, original way. This exhi- these artisans' wonders bition displayed more than emerges a never fully ex- Down the Valley of 300 objects from the Museo hausted question. Which is the Shadow, del Oro in and the distinctive feature of gold Ride, boldly ride,” British Museum’s own pre- among other metal resources The shade replied – Colombian collection. and where does its strongly “If you seek for Eldo- inspirational power for human The special guests from Lon- rado!” behaviour come from? don’s British Museum will be Edgar Allan Poe, soon flying back to Colombia. Gold holds its binding Eldorado, 1849 Rain forest's fantastic crea- magic in good and bad tures crowded the exhibition times rooms of the British Museum Gold serves protection in all (1) Emotional binding of multi- with golden frogs, paradise kinds of situations, beginning ple faces controls the relation- birds, tiny sacred figurines, with monetary instability. ship to this resource like no etc. Their visit in London has During economic growth, gold other item. The individual as brought a instructive winter lives in strong jewellery de- an explorer, producer, inves- story about resources to many mand, as the former years tor or consumer is an intrinsic aesthetes, handicrafts and have sufficiently shown. Fur- part of the demand equation business people as well, at the thermore, gold has demon- of the resource gold. The sig- intersection of cultural tradi- Inside this issue: strated a tough independency nificant emotional constant of tion and personal expression. to all kinds of scenarios. And this equation is the fear of Guests from El Dorado However, there is no way but 1 its argument must not always potential or concretely mani- to rethink the power of gold in be a rational one, on the con- fested instability. For ancient the era of digital money. The trary: there are emotions at Colombians, fear had another fascinating masterworks from Ancient Fellows 1 work. dimension. Colombia stand for the true

All Myth has a legend 2 Ancient Fellows

(2) Mirror of Wealth 2 Since ancient fellows vener- activities, wished or not. For ated gold, it seems that this many of us the power of gold veneration still sticks in our consists in its sharp account- modern genes. The lust for ability, its feature lays on Cosmogonic Paradigm 3 gold spans the earth in all frames for wealth preserva- historical periods, nations, tion, indestructibility. In a genders, etc. Moreover, it may word, gold fascinates by the Spelling Roots 3 ignite the desire to possess power to resist, exist, and more and more of it, and quite survive. often by all means. Ancient Columbians were not The mystical aura, the power- far away from this perception ful attraction of this hardly but, however, with one excep- extracted earthly resource tion. prints many of our day to day Responsible Resources & Roots Engagement Page 2 Zürich—Helsinki—Toronto

All myth has a legend.

The Colombian legend talks community. After he sunk the residence of these gods was about a ritual at Lake Guata- treasures into the lake as supposed to be located in vita, near modern Bogotá, at veneration, he would immerse rivers (such as Lake Guata- which a community leader himself in the water. This vita), mountain caves or other must be overwhelmed of pow- Chief reigned over the high- magical places in the land- ered gold. lands of Columbia, and the scape. They were vessels of ritual meant to bring the com- communication or petitioner “ This mythical The story goes to a ritual at munity closer to the gods. symbols for a transcended and mystical Lake , near Bogota, relationship. metal at which a newly elected chief, fully ornamented by Other golden artworks were framed iden- powdered gold, dived into the Communication - Identity proudly used as adornments tity, magic lake and emerged as a frame - Enhancing the self- for clothes and body. Usually, chief of the . conversion they outlined the identity enabled com- frame of individuals as well At the exhibition in the British munication, The sacred lake used to be as – according to style and Museum of London, three of the ceremonial site where the type of ornament – their be- and opened main uses of gold artworks of locals worshipped Chie, the longing to a specific commu- the gate Ancient Colombia were admi- goddess of water. The cere- nity in addition to hierarchical rably emphasised. to the super- monies gave rise to the leg- status in a group. natural experi- end of El Dorado. Some art pieces were dedi-

ences cated as offerings to the spe- The community chief came to cific gods with the belief to the lake with his four priests for the ancient intercede for community. The Colombian.” and treasures spent by his

Strenghth and Power by stepping beyond their hu- manly limits. The magical power of gold The exhibition has been meant to weave in rituals into Therefore, this mythical and planned musical instruments, into mystical metal framed iden- in partnership fittings used particularly at tity, enabled communication, handling of powerful plants, and opened the gate to the between Museo del Oro into rituals of transformation. supernatural experiences for and the British Museum. the ancient Colombian. The strong belief of the an- Owned by the Banco de la cient Colombians was that República, they may transform them- selves into the powerful, fear- the Museo del Oro, Bogotá, ful creatures that surrounded houses the largest collec- them. Strength and power was a promise of gold. This tion of Latin American gold transformation was for them work in the world. an essential life experience, (4)

Mirror of Wealth And what have we seen with worth of gold. our analytical eyes today? The ancient artefacts are mirroring But, not all that shone was gold in the exhibition. Art- the ideas of richness, wealth and high polished craftsman- works that seemed at first Unlike ship in a fascinating world of glance made of gold were in sundown many ages ago. fact worked out of metal al- other resources, They are now museum depos- loys. Many of them were art- fully combined, in different gold is not its and exponents of a further immense treasure that could shapes. consumed and (5) not escape from the material Gold, silver and copper is a melting pot of modern civilisa- destroyed. combination known as tum- tion. Then one specific prop- baga, and stood for the rain- Once bought, erty of gold was missed in the bow of ancient Columbians’ shone, but the ingenious Co- ancient Columbia: the attrib- imagination and wishes, being lumbian artists’ in mastering the gold tends ute as tool of exchange. associated with the sun and laborious techniques with a to be held. Ancient Columbian were not the moon. It is not just the rich esthetical sense. interested in the material glance of resource gold that Responsible Resources & Roots Engagement Page 3 Zürich—Helsinki—Toronto Sources Photos 1,2,4,5,6: Exhibition Beyond El Dorado, power and gold in ancient Colombia Britisch Museum with Museo del Oro, London, 17 October 2013—23 March 2014 Cosmogonic Paradigm

What brought them to shine those past times it was not Cosmogonic = a theory or was human beings' power of the desire of gold as a support story of the origin and de- imagination and diversified of material wealth that made velopment of the universe, work. The exhibition let us it precious to the ancient Co- the solar system, or the discover the refinement of lumbians. Heavily essential earth-moon system. human spirit in poured pre- was the symbolic magic power (6) cious metal. of gold.

Like the universally liturgical The transformative properties scenery of nature, the exhibi- and its association to the sun tion’s rooms opened an at- was for them the true vibra- mosphere of a tropical cathe- tion of the cosmogonic para- dral. digm they believed to live.

Spot-like shapes of gold sparked from deep dark green backstage, and reminded us of the hard endeavour of min- Cosmogony = Symbolic ers to dig for the first nugget. narrative of the creation The rainforest moved light on and organisation of the gold at the chattering sound world as understood in a of unseen birds. The sensation particular tradition. conducted the rational to an emotional ladder. Indeed, in

Spelling of Roots

The exhibition was a spelling useful one. What sacralises For Investors of roots through their re- gold are much more the ways in 21th Century, sources. It depicted a long of its extraction from the bot- Gold has unique properties way back to the quotations of tom of the earth or the rivers’ as an asset class. life of this shining metal. flows, than its assignment to Some short period of time, wealth. The diversity of gold- gold fascination has been backed and gold-related interrupted by The Golden Exploration and extraction, products means that gold Tulip Age or The White Gold, finally refinery processes and can be used to enhance the porcelain. And every time artefacts manufacturing a wide variety of individ- it survived. meant conferring to this metal ual investment strategies a universal indestructible vir- and The truth of El Dorado will tue. Not to mention that every risk tolerances. remain forever with ancient ounce of gold that that has Columbians, but our take is a ever been mined still exists.

Indestructibility of Gold Unlike other resources, gold is The central banks hold in not consumed and destroyed. 2013 approximately one-fifth of In fact, gold’s indestructibility all the gold ever mined. These is one of the attributes that holdings are highly concen- make it so attractive, particu- trated in the advanced econo- larly for money. mies of Western Europe and North America, a legacy of the The amount of new gold mined gold standard. By other words, each year is overwhelmed by the central banks have im- the total amount of gold in the mense pricing power in the world. gold markets. The rest of the Throughout history about total amount is held by private 3’822 billion ounces of gold investors. Once bought, the had been produced. Over 90 gold tends to be held. percent of the amount was 1 ounce = 28, 3495231 gram extracted since 1900. About 1.3 billion ounces have been used for jewellery.

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