WILL THE WESTERN AUSTRALIAN GOVERNMENT BECOME THE BEAST ?

What stops you withdrawing $700 cash from your bank, walking down to your dealer and buying a kilo of silver with a receipt? Paper trail, yet under the radar!

 

No..Miners are packing bags and leaving Western Australia . My brother in law is one them that made his way back to Victoria. Property prices are plunging all over Pilbara's mining hub and throughout many more mining towns. As families migrate back interstate many of the schools will loose numbers and close down or merge. Teachers will move, hospitals will loose doctors and nurses and run on minimal staff. Mining is done and dusted for many years to come.

 

Yes. Any thought of the WA government baling-in and taking PM personal gold holding is ludicrous.

 

It may well be. But selling off and privatising is not ! During The Kennett years the profitable assets where the best to sell off. Who wants to buy any company that's a lemon ? And of course once it's in private hands the kicker is - GST can be applied on all precious metals. And why not ! The WA Government may well have ditched the cash cow, but can make it back on taxes.

 

This.

 

So how many customers do you think would still keep their unallocated gold there if it was owned privately and not govt guaranteed?

 

1. Once GST is applied to bullion, there will be a big drop in the amount bought, so they will get less GST than expected
2. I think at least 90% of Australia's gold is exported, which is GST free

So WA govt would be a net loser.

 

No problem, the new private owners of the Mint just need to get silversearcher to do the audits and tell everyone they can trust him as he says the gold and silver is there.

 

LOL

 

I guess all the unallocated customers will switch to other government-run purveyors of unallocated bullion like GoldStackers, ABC Bullion and PerthBullion.

 

I think I missed the memo that GoldStackers, ABC Bullion and PerthBullion have been nationalized? :/

 

Along with the implied <sarcasm> tag.

 

Get yourself an explicit one here

 

Yeah, Sadly what you mentioned all happened in Victoria. And when Kennett legalised the pokies the misery that created in the community made things even worse.

 

SilverSearcher, you aint seen nothing yet. Just wait several years till problems arise in apartment towers after the NSW government removed consumer protection for shoddy work. We now have monoliths of crap and it will be the future taxpayer who bears the burden of paying for present-day cronyism.

 

I thought that was Kirner who legalised the Pokeys, handing all those dollars to the corporations versus going with the NSW model where at least there is some benefit to the local community for the 'tax on the stupid'.

I will agree that in his myopic Thatcherite view of the world, Kennett destroyed quite a few worthwhile institutions and his government's closing down of schools and sale of the lands to his real estate chums and supporters was to the great detriment of the communities that it happened within. No wonder I have to deal with hordes of mums in four wheel drives bringing junior to school each day from the cramped estate where the old school stood. Quite a walk for the little darlings.

 

John Caine was dead set opposed to pokies. True Kirner got the ball rolling with legalising pokies in her short 2 year stay. They were rarely seen in pubs and there were no casino licenses. So most people went to the border towns to gamble as they always did. It was the Kennett Government deal done in 1993 to award licence to the Crown consortium ( Crown Casino ) led by personal friends Lloyd Williams and then Liberal Party treasurer Ron Walker that really got pokies into the community. Then every man and his dog could get onto a one armed bandit throughout the entire state. To me if there is a certain money supply to be spent in any community you would think it's better spent on things that mattered. The Government can still get taxes from more legitimate sources of spending. Goes to show how immoral and short sighted they are.

 

Coal mining operations in Qld are unprofitable. (ABC NEWS TONIGHT)Royalties down for both the QLD AND Australian Governments...Surprise, What do the mining companies want now...Royalties abolished and tax on profits.

Australia is in big trouble, It is just that a lot of people don't know it yet. (silver Stackers excluded)

Regards Errol43

 

AFR http://www.afr.com/news/economy/wa-...er-assets-if-gst-isnt-changed-20160208-gmomli has article on WA govt selling power utility "between $10 billion and $15 billion" and "generate about $6 billion from selling a range of assets including Fremantle Ports, Utah Point iron ore terminal at Port Hedland, betting agency the TAB and land", as well as going after more GST share. Perth Mint is small change in this game.