The Phaserl


10 Actions that Will Make You Rich

from VictoryIndependence:

Help us spread the ANTIDOTE to corporate propaganda.

Please follow SGT Report on Twitter & help share the message.

1 comment to 10 Actions that Will Make You Rich

  • rich

    here’s one used by many…………………

    Australia’s richest person Gina Rinehart receives welfare loan from US taxpayers

    How Australia’s richest person, mining heiress Gina Rinehart, secured a $US694 million ($764 million) loan from American taxpayers is surely one of the great ironies of the capitalist system, reports The Australian Financial Review.

    The case is the latest example of a flaw in the United States political economy: what some see as crony capitalism.

    Rinehart’s mining group, Hancock Prospecting, last week signed off on a $US7.2 billion debt package for her highly anticipated Roy Hill iron ore project in Western Australia’s Pilbara region.

    There are 19 international lenders, including Australia’s big four banks, in the syndicate. Government export credit agencies including the Ex-Im Bank in the US, as well as Japan and Korea, were crucial in helping the massive debt-funding deal over the line.

    Commercial banks and bond investors were reluctant to shoulder all the risk.

    The US Ex-Im Bank says it “assumes credit and country risks that the private sector is unable or unwilling to accept”.

    In return for the US government loan, Hancock Prospecting will purchase American mining and rail equipment from Caterpillar, General Electric and Atlas Copco. The Export-Import Bank says their involvement will “support” 3400 US jobs.

    US conservatives have deep misgivings about the “corporate welfare” the Ex-Im Bank is dishing out, including to Rinehart.

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>