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Gold/Mining/Energy : Canmine resources
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To: Marshhawk who wrote (2663)7/20/2000 11:54:13 PM
From: bill  Read Replies (1) of 2769
 
Putin has been putting the heat on the oligopolists.
To what end no one yet knows. Is he determined to
sort out the Russian economy?
He's putting pressure on the head of Norilsk. Many of the
wealthy oligopolists who bought assets below market
(way below market) are now being asked to pay a "voluntary"
fee to bring the price up to what might be reasonable.

Not sure that he will succeed or, if he does, what impact
it will have on the Russian economy. If he can get the
basic industries and banking system to work in a
reasonably normal fashion (demand, supply, profit, loss,
pay taxes) we could see a number of results. More supply,
steady supply but if proper wages were being paid,
loans repaid, etc. cost per pound will rise and the
product can't be dumped on the market without any concern
for cost. Inco could supply nickel for very little if it
didn't pay its workers or paid them ten dollars a month
or less.

The early naive fantasies of unlimited greed by Western
businessmen have dissipated. Any westerners who have
survived the Russian economy and political system are
much wiser now. And fewer. A lot have left licking their
wounds, figurative and literal.

Be interesting to see how the Russians play the supply
demand game.
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