WILL THE WESTERN AUSTRALIAN GOVERNMENT BECOME THE BEAST ?

[precious roar]

But, the miners will continue to provide everything you need, won't they?

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.

Sorry, should have made it more obvious i was being sarcastic. It was an attempt to highlight the short-sightedness of goats and the populace in general.

 

[silversearcher]

But, the miners will continue to provide everything you need, won't they?

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.

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

This is not good news for many families. News coming through about overseas silver mining not profitable either...If there is no need for commodities because of a glut or no demand things will get worse.

 

[bron suchecki]

There are two types of people in the world, those who save for a rainy day and those who live for today. I find it had to feel sorry for the latter http://goldchat.blogspot.com.au/2011/11/squirrel-and-grasshopper.html

 

[silversearcher]

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.

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

First of all let's get things straight. When certain banks / mints use the word " Government Guaranteed " it not backed or bailed out by The Government. It's the people / taxpayer that foots the bill. That's why very few banks / corporations over the years are backed by the taxpayer. Nothing pisses off a taxpayer more than having to bail out a organisation that cannot make a profit. And boy oh boy, Governments hate lending money out also. Just ask SPC and Clive Palmer. So it's imperative that Bron and Co have to make a profit. With current circumstances the WA public would frown on giving them a leg up. And why should they ? So 21,000 clients are spared for the millions. As long the Perth Mint can make a profit all should be good, unless their is a public out cry over essential utilities being sold off while non essentials like Perth Mint are spared from the sword.

As for customers with unallocated precious metals if they are not backed by " THE PEOPLE ", then its the usual scenario when a company goes insolvent. It falls into administration by the likes of people like me apparently . Upper level management blame lower level management and find a scapegoat. Then they piss off with golden handshake. Meanwhile, investors get a small return back as a percentage. A year after that when the dust has settled nobody will give a rats except those who lost money.