Market Currents
Saturday, September 26, 2009
9:00 AM
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Chinese threats to stop exporting rare earth minerals - with applications in electronic devices as well as wind turbines, hybrid cars and missiles - have touched off a boom around the world to develop alternative mines. One exec says three months ago "You couldn’t borrow 10 cents from anybody in the financial community [to develop a mine] ... We get inundated with calls offering financing these days."
This news story has 9 comments:
But look at the good side. In 20 years China might be full of played-out ghost mines, and the U.S. will be dictating terms to the Mandarins instead.
The real issue is why are we changing the way we treat our largest lender. Yes-you can discuss at length that we manufacture vertually nothing in this country but that is the fault of the government/legislation and large corporations, not China.
A trade war at this point is the stupidist event that could possibly happen. The ramifications to the USA would probably be larger than to China.
Even today, we have no governmental reporting as to the terms of the Treasury Bills they are purcashing. Are they still buying 30 year as opposed to 12 or 18 month notes????
our world is hurting and has huge problems with poverty, disease
illiteracy, unemployment, AIDs, killing babies, etc. the global warming zealots divert and distract from the true problems.
bottomline the whole global warming craze is motivated primarily by greed - those few like algore, GS and others who hope to sell and trade carbon credits and offsets like indulgences and to profit from government and taxpayer funded so-called green industries.
Risk appetite is back. Now it is a matter of someone raising some capital to explore and find other places where such rare earths CAN be found. Africa is very mineral rich...US .. I guess we have to first find some place before they can get mining permits.
We want our weapons of war - and if these elements are necessary to build them - then the government will give out the permits.