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The Forum > General Discussion > Miners and big money spin

Miners and big money spin

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*vested interests overstate the extent of Australia's debt.*

LOL Thinker 2, Australia owes a nett 1 trillion $! Not the Govt,
for Costello made sure that Govt debt was paid off. But the nation
as a whole, as our current account deficit runs around 5-6% most
of the time.

What that means is that we as a nation, need to pay our debts to
other nations, on a regular basis. We can't use seashells, so we
need hard currency, usually US $. Either we borrow them, or
we earn them, to pay up when international accounts are settled.

At present, our 4 main banks are carrying the load, as they go
cap in hand to international lenders, to borrow all that foreign
currency. If they did not do so, our Reserve Bank would have to
do it, for pay we must.

The moment that international lenders become nervous about our
level of debt, they'll shoot up interest rates, to cover the
higher risk that we pose. There won't be a thing that Govt can do
about it.

At the moment, international lenders look at our mining industry
and feel that we can eventually dig our way out and pay in the
longer term.

But our present smartarse mob of politicians are threatening
that, so we'll see how it all lands up.

Wealth is created by our export industries, Thinker 2. In Australia
that is farming and mining, basically.

The rest of you just shuffle it all around.
Posted by Yabby, Wednesday, 2 June 2010 8:41:43 PM
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the old cray/yabby...makes a good point
yet is walking both sides of the fence...

as his quotes..shall reveal

<<..The rest of you just shuffle it all around>>
compare this with the ultimate...shuffle

<<the best place..for taxes/was to give it back to taxpayers where possible>>great shuffle...gabby...take from the poor...bailout/give infastructure to the rich...shuffle shuffle

next quote/gabby..<<..Wealth is created/by our export industries,>>>thats is only PARTLY...correct....most of the debts..THEY CREATE TOO...

[bhp../lent/owes..20 billion...
that bigfatpig...couldnt get his financing...[because china didnt give it to him...

yet only two weeks ago..he declared he got a 20 billion loan...to reap...60 billion of resources...lol for 800.mil.royalty...thats a joke/mate

lest we foreget..the banks own the farm...TOO..!

where did they/get the lucre...DEBT...
overseas...debt...FROM THE BANKERS...lol

who are so adept at lending/other/peoples...$$..it actually charges ursury..TO GOVT..to lend its own money...lol

<<In Australia..that is farming and mining,..basically.>>>yes that is true...they do create wealth...BUT...they al;so hold most of the debt

as your so good/at pointing out...you have to lend/money...to make money...but there my old mate...is the hitch...most of the elite...OWE more..than they got

the rich ...have credit...now
but/soon..to their discrace...they all shall default...

WHY?..because everything is mortgauged...multinationals...currently own 70 percent of..the stock/shares...and the banks/hold it all..as collateral

shuffiling the deck-chairs...isnt doing nothing bro
if debitor,,,debitor you be...and debitors..will/..shall all default

this is a house/of cards...govt presumed..to tax the people...allowing them credit..to buy that..they cannot afford

what happens..when THEIR credit gets withdrawn?
..the whole house of cards/defaults to the bankers...[or rather those who own...the credit..lent to the bank...ie the people]

the day of balancing/the books..draw's near./dear
those holding the mortgauge...will demand payment...

and the cash/cow...the peepole...have been drained dry
...yet they own/it all...!

and the leeches...[who owe...4/quadrillions...well they will be seen/faling from windows...while the ursurors...get the police..to seaze it all...or not get their bowl of soup

as said repeatedly...yabby...
you know not/the vile...you defend

how de-spirit..
those who think they are the clever/guys...think they are
they plan..to kill off the sheeple...

once they endebited them
as far as they dare go

tell me..are you sure..them shares...
are any more than paper/promises

when the do/do
hits the fan?
Posted by one under god, Thursday, 3 June 2010 7:52:35 AM
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OUG, you don't have a worry in the world there. You just keep
smoking that weed, float on the clouds a bit, as you count
that silver under your bed, you are doing fine!

No need for you to worry about the rest of us :)
Posted by Yabby, Thursday, 3 June 2010 10:24:12 AM
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your a funny/boy..yabby

here is/the deal...let me run it/past you...to see..if..it will work?

i think..i will/..get a licence...to prospect..for minerals...
under your yabby ponds...and your sheep/shed...your house/tracter shed..and your bore

i wil pay..less than/..a hundred for this...
but i got heaps..to get this started,...

lets drill/some holes..leaving the drill-slop..all over your pasture...

uphill/..from ya yabby pond...[it has neat chemicals..to asist the drilling..so your yabbies..might/..get some evolution/mutation out of it

total cost...for a few drill-holes/licence..say 100 grand...[will sell..half my silver..but i get reports]..that have value

ok/now i go..to the labour-party...donate..a few thousand...

[buy a special seat..next to anna..talk to her...explain how yabbies/pond is sitting,..,dead-center of a coal-seam...

3 feet thick..only 3 meters..down

the reports/i have..say..is its worth..near 1 billion...of coal...let alone the coal-seam/gas...

so i get ana..to sign/some deal...
even..get her to come to china..to talk to the financer...

we only need..some in-fast-ructure..put in...
no worries there..seqeb...has just..upped/the price of electicity...[for infastructure....just like this]...so its a go...

i return..to the banker/..in china../with anna's asurance of infastructure...and my lease...plus the estimates..of the ore/body..
[that also is..my../col-lateral...in case i default...

and get one third/..upfront

for collateral..i use the minerals...UNDER YOUR YABBY POND...

[in fact/..i think i should be able to/use the banks money..not my silver...make a few payments...then get the big/payday

ahhhh..you just gotta love...free-enter/prize...
not only..eating my cake..but yours too...

oh i will sling/..a few shares arround..to the lib/nats..
even the greens...and sponcer a few..local football-teams..[and add/space in the media..to keep leverage over them

might even join rotery/..lions..
as well as the sportclubs

mate...its money in the bank...
and if we do make any money...we will give it..as bonus...
to the workers...me/you

we/should sell shares...that way were..a limited company...
the trust fund..buys nice/big house..pays the bills..trabns[port/acomidation..chafeur

and its all at arms length...lol
mate its great/in the sunshine-state

where did you live again?

im looking..to go exploring...just prospecting..ya know..lol

its we/who pay all the tax..
you lot..gotta give us everything you have/..then more

its great..in the sunshine state...!
its not to late...
get out there..and prospect/mate..

its not too late
Posted by one under god, Thursday, 3 June 2010 1:24:01 PM
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OUG, the smoke from all that weed is now really getting to you.

A coal seam three foot thick? Sounds like that is enough to
keep the fire in your lounge going, that is about all :)

Plenty of farmers have actually done quite well out of farming.
For they will generally make an offer for the whole place,
about 3 times the market value, so farmers can buy a much
bigger and better place elsewhere.

OUG, there is no Anna here lol, I live in a different
country, its far away from you, called West Australia.
You've probably never heard of it, but we are the people
who keep sending you lot money, to keep you going.

Now OUG, put that bong down for a bit.
Posted by Yabby, Thursday, 3 June 2010 2:05:58 PM
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It's pretty awful the way you deride UOG, Yabby. His posts are even more accurate than yours own from my point of view. Realistically Australian Business was encouraged by Howard to act this way, to be confrontational, to act with stealth, to place their own interests first ,when dealing with employee's. Loyalty in workplaces is shot as a result of this philosophy and it's now every man for himself.

To illustrate the depth of self interest that Australian Business can stoop too:
the Small Business Council of Australia today objected to a $26 increase in the basic wage.

These are people who did not see an increase last time from Howard's appointed body; did not see increases of any substantial nature during 12 and half years of the Howard Govt, received the least of the tax cuts paid to re-elect the Howard Govt.

If Costello objected to Howard pork barrelling to his constituency with tax cuts all power to him. To bad he didn't have the bottle or the numbers to stop this.

Prior to that ( Keating Era ) the Business Sector was able to survive perfectly well with Wage Indexation making them supply automatic wage increases yearly to their employee's as a counter against inflatiion.

They are a disgrace, (the SBCA) and Un-Australian. When my father fought for this country he believed that being Australian meant that you were guaranteed a standard of living. This was encapsulated in the Aussie sense of a fair go!,

UOG it's seems to me that you have been too frank with your sparring partner during some other discussion and have provided ammunition to lampoon you,

Whilst I enjoy your post's Yabby can you be a bit less personal.
Posted by thinker 2, Thursday, 3 June 2010 7:19:17 PM
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