The banks make their big profits overseas on the currency markets which are many times bigger than the commodities markets. The banks will be here long after the mines are worked out. The banks can relocate part of their business to another part of the world, miners can't move a mine. Banks are regulated, miners aren't. Banks own their resources, Australians own the resources and rent them out. Banks completely different to miners.
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ato says banks make more $ than resources, page-8
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Glen Diemar, MD
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