Thursday, April 2, 2009

Big Australian miner to be taken over by China?

Media report here -- Noting that Rio Tinto is heavily in debt and wants Chinese investment in it to escape that debt

I guess if you've been living in another part of the world for the last 40 years you can be excused for not knowing that Australian Prime Ministers do have a tendency to sell their way out of fiscal trouble. The old saying, "We've sold the farm" has never been more apt than today but now we can "progressively" amend that saying to..."We've sold the farm and everything underneath it."

"Sorry kids, you once had an inheritance but you see back in 2009 the PM at the time thought it would be a good idea to sell our unique and vast mining wealth to a country that has no political or ideological allegiance to us. Actually, China was one of our largest customers and as you know is now running the shop."

Treasurer Wayne Swan has expressed reservations with the sale of Rio Tinto to the Chinese Government run concern CHINALCO but a deal is still possible. Swan should be doing all in his power to prevent this sale from occurring but he is between a rock (K Rudd) and a hard place (massive foreign debt). If he has the brains and the bottle to find another way without selling our future and in my opinion "our sovereignty" then he should be remembered as a great Australian.

K. Rudd is definitely a clone of his mentor,the disgraced ex PM Gough Whitlam, right down to his RED undies (which are no doubt made in China) and will be remembered (considering who will write the history books) in such a manner but somehow I just don't think he cares. A wealthy man who will have achieved all he wanted in life and ideology, hammocking on the ex PM payroll until the day he dies.

To think that an Australian born and raised man would sell out his own country of freedom, capitalism and democracy to a nation that holds a strong and very opposite ideology is again one of the great stories of shame that our children and their children will be telling for years to come.......that is if they are permitted to have open discussions.

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