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AUSTRALIA SHOULD BUY ITS OWN GOLD PRODUCTION., page-5

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TruffleDog

5,009 Posts.

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30/12/20

18:55

Post #: 49870528
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Originally posted by pintohoo: ↑

"Australia should ban gold exports and buy annual production itself at market price. Take it out of global circulation and specifically deny it ending up in China. Yep, wouldn't they love that. Give them the bird. At least for a few years."

what a stunningly brilliant idea

slightly hampered by the mere detail that Chinese interests own a hell of a lot of Australian gold miners and if I were a gold mining company - and, some boofhead put in a rule saying that I was only allowed to sell to Australia

I would do one thing ----------

put a premium on the price

which would - make all the chinese gold investors who own the mining companies - laugh all the way to the bank

of course - the Aussie government could then set a price -

but, of course - that would be totally going against Liberal principles - less government interference, small government, getting out of the way and allowing business to do things

basically - we would be going full commo ---------- thanks Liberals

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Not suggesting unscrambling the foreign ownership egg. Nor fidgeting with bullion prices Simply retain production onshore, er in house if you you like.

Seems the only counter leverage Australia has is iron ore and gold.

Foreign ownership does need to be tackled, but no ones got the stones. Time to get off the chi tit.
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