"(China demands a 50% reduction in Ion Ore price.)"
bendo,
And who have we got to blame for that???
Our politicians, they haven't got any of the proverbials to stand up to the Chinese, and sell to them regardless of the consequences.
In turn, they are now turning cocky and demand what they want in exchange, and dictating price terms to the sellers.
If they didn't own any of the Companies, nor having any money invested in them, it would be a different matter. They would have to be a price taker, not a price giver.
Can you freely buy anything in China, and God Forbid, even taking any sort of control of their Companies?? No you can't. They are Government controlled.
In turn, we are selling to them all the resources, etc. What is going to happen when all of that is gone?
If our politicians (and the FIRB), would tell them where to go, and start supporting our mines instead, you would soon find out what I mean.
Instead, they prefer to offer/give bail out money to the Banks, like everywhere else for that matter, so that they can lend money to mines, businesses, etc., and the Banks in turn instead, don't lend out hardly anything, and hord the money themselves to fatten their Balance Sheet.
Have you tried to borrow money from the Banks? Some of my clients did, and they have made it so hard for them, that it was better to forget instead of jumping the hurdles that you have to get through. Intentionally placed I may add.
Look at the employment they (the Government), would create if they would lend money to the big mines, while the Banks are only putting off people in return for what they are getting/handed out, lol.
It is a total disgrace.
My thoughts,
Buddy
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