Matthew Cox

Argentina and Chile, a lot of mining industries.

Venezuela.

Do you realize that Venezuela has more oil reserves than Saudi Arabia?

Well, all of these countries require... Man, Venezuela was beautiful back in the 80s.

The last time I was there as a teenager, it was like being in Miami.

You know, what the socialists have done to Venezuela and earlier to Argentina are just heartbreaking.

Yeah, 40 years ago, Venezuela was the third wealthiest country in the Western Hemisphere.

100 years ago, about 120 years ago, Argentina was one of the wealthiest countries in the world.

In fact, when the Nazis left Germany, they went to Argentina because it's such a high standard of living.

It's just in the last 40 to 50 years that the country's become an economic basket case.

Well, the same thing with Venezuela since Chavez and those guys took over in the late 90s.

But prior to that, Venezuela was snapping up enormous amounts of heavy industrial grade equipment to support this huge energy complex.

And so for a Mexican national or a Mexican-American businessman in Los Angeles, he can easily do business with an Argentinian, a Uruguayan, a Venezuelan, a Chilean.

Why?

Because everybody speaks Spanish.

All of those countries are former Spanish colonies.

The largest economy in South America is Brazil.

Enormous agriculture, enormous energy, enormous mining.

The difference with Brazil, however, it was never a Spanish colony.

Right.