As posted previously, the "I told you so coloumn" is becomming...

As posted previously, the "I told you so coloumn" is becomming fatter and more accurate.

The Chinese will reveal teir hand within the next few months on the subject of Australian coal. The government subsidised coal price (thus far not admitted to) will become an issue when the truth of it unfolds with some boring reporter claiming to discover what we already have.

Coal is being sold at prices lower than that publicly announced. Some very clever accounting entires and the creation of third party entities have managed to carry the myth and mirage till now.

Freight and other key elements of the cost of production have been underwritten by the government (both state and federal) in favour of large Australian and foreign multi nationals to give the impression we are really riding the crest of a wave of Boom times.

I did make a post alluding to this practice about a month ago. Most thought it to be a fiction. The Chinese want the price to be reduced now. They will not let go because they have alternative sources of supply such as the Ukraine, Poland, Brazil and India. In addition they have already begun to test at least 4 nuclear power plants in their country which will say bye bye to coal.

The question here is this, is the practice spoken of above 'corruption'?