Galt's Gulch Chile Buyers And Investors Take Back The Project In Daring Night Raid
Posted by ShrugInArgentina 9 years, 4 months ago to News
In August and September there were posts in the Gulch about the financial "problems" and accusations of a land scam involving Galt's Gulch Chile. This morning I searched for current information and found the link to Jeff Berwick's account of the "raid" on October 23rd in which investors (with the aid of Chilean police) took possession of the property.
The search results in this site's archives using "Galt's Gulch Chile" will display the previous posts and comments on the subject.
The search results in this site's archives using "Galt's Gulch Chile" will display the previous posts and comments on the subject.
This doesn't mean a working "Gulch" is impossible. But it does mean we should be thinking in terms of either new-country projects, seasteading, spacesteading, or something even farther out than those.
It's good to see that the "raiders" had the sense to enlist the assistance of the Chilean authorities in order not to become criminals themselves.
I know there are several communities in Latin America that have used (if not usurped) the expression "Galt's Gulch" when promoting land sales. I discovered Doug Casey's La Estancia Cafayate the same day I discovered this website as I searched for "Galt's Gulch Argentina" in a google search. The search included a post on this website about La Estancia Cafayate, asking if it was a "real' gulch.
In an on line interview (in his own website) Casey only referred to his development as "a bit of a gulch" when promoting the sale of the highest priced (by the square meter), semi-rural lots in the vicinity of Cafayate, but at least he and his partners delivered clear title to every buyer and also kept their promise to build a golf course with an impressive clubhouse, restaurant and swimming pool as well as tennis courts and polo fields. It's not anything like Galt's Gulch in Atlas Shrugged, but then it was never intended to be.
Doug Casey actually expressed doubts to Jeff Berwick about trying to establish a "gulch" in Chile. I read a quote by Jeff confirming this. Jeff had previously been a "spokesman" for La Estancia Cafayate and he obviously still has a dream of creating a "real" gulch. For the sake of the investors, I hope he succeeds,
The one I've often referred to as having predicted about 25 of the last three recessions?
Is he new to you? He sells subscriptions to FUD, not financial guidance or wisdom...
... In MY Never-So-Humble Opinion... (imnsho)
http://www.thedailybell.com/editorials/3...
Posted by davidkachel 1 year, 10 months ago
My BS early warning bell is clanging REALLY loudly!
Posted by davidkachel 1 year, 10 months ago
As an American who lived in Latin America (Peru) for several years, I can tell you, this is a pipe dream.
FIRST, even the most conservative Latin American government is still a socialist government.
SECOND, the "evil, capitalist American" idea is deeply ingrained in ALL of those societies. The first sign of economic problems, YOU become the target!
THIRD, Galt's Gulch is a FICTIONAL CONSTRUCT! There is no magical force field that will keep you hidden from the moochers and the takers. The closest thing to it is called "guns", which you are not allowed to have in Latin America, except in some very limited and controlled, isolated cases; usually not allowed for visiting gringos.
FOURTH, this is plainly a scheme to sell undeveloped, isolated, unwanted, mostly vertical land to gullible idealists.
http://www.galtsgulchonline.com/posts/11...
From what I've read recently, the land was zoned for a maximum of 115 lots and hundreds more than that were being offered for sale. The chance of a change in the allowable density was quite slim as the property was located in an "ecologically protected" zone. There was also a serious question about water rights, which apparently were not conveyed with the original sale of the property.
I received an email at least a year ago from the developers of Galt's Gulch Chile which offered lots of 2500 mtrs2 at a reduced "pre-sale" price.
The "pre-sale" price was offered for a "limited time only" and was only in effect prior to the "approval of the master plan."
If that doesn't set off alarm bells nothing will. It appeared at that point that the promoters were trying to sell something they could not possibly be sure they could deliver.
If what is alleged is true, I can vouch that what is promised for a mexican passport is NOT legal. I concur that the immigration process is at least 5 years. You can receive a "permanente" status, however, that does not give you Mexican citizenship, just some mexican benefits and recognition in the country. People, be careful with these schemes. I know when we were at Freedomfest, there were real estate investors promising fast-tracked methods of getting passports or citizenship. I'm no expert, but anything that is a "loop hole" or "expedited" is likely not legal. If illegal passports are confiscated while you are in another country-good luck with that. carry on :)