Before indignant holders accuse me of hating, let me state that...

Before indignant holders accuse me of hating, let me state that I agree 100% with our chairman's opinion that iron ore belongs to the Australian people and that the current falls are bad for Australia. I also agree with him that the futures market in ore can only go down if the big boys keep talking about expanding. However....
I heard him being interviewed on radio yesterday, and he nearly caused me to run off the road. After he was allowed his spill about iron belonging to the people etc etc, the interviewer said that he was talking exactly like the Labor Government was when they wanted to introduce the mining tax and he along with the fat piece of lard (my words here) marched in Perth screaming ban the tax. Twiggy said that it was never about politics it was because the tax was going to mean a tax rate of about 57% - (don't hold me to that percentage). Now Twiggy may be a good bloke etc. but coming out on Radio and telling porkies is not a good sign. He repeated the BS about the tax that the mining industry was allowed to get away with to vegimite root the Australian people. The mining tax was never about taxing profits as we know them, but taxing returns after all expenditure. FMG were not in a payable situation nor would they be for years. But BHP was caught (I don't know about RIO). So what Twiggy did in his political stunt was in fact do the big boys a favour. they kept quite and Twiggy did all the dirty work, he even challenged the validity of the tax in court.
Twiggy, mate, pull the other one. As a holder in FMG I am still disgusted that you took your eyes off the ball and as you did so, costs blew out by over $1B. BHP and RIO did not cause that. Don't come out with your crocodile tears about the Australian people. You led a disgusting campaign to hood wink us and it worked.

And on another note, for those of you who believe that 'Hocking backs Twiggy", you may have noticed that last night's budget is assuming an iron ore price of $48. Did anybody here really believe that the current cretins in power were going after BHP and RIO?

And if they are correct with $48, where does that leave us?

I think Twiggy is so strident is because he believes it also.

Pear