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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Michael Bidder who wrote (30978)9/28/2004 12:43:30 PM
From: Michael Bidder  Read Replies (1) of 39344
 
A little more:

Farming in China:

Between 1985 and 2000, the Chinese peasants were squeezed for taxes to the point where they abandoned the land. What was .8 Billion peasants is now .3 Billion. That .3 Billion represents the old, sick, and very young children. This is a result of the heavy forced taxation by the local town governments, usually at gunpoint. Local police would round up the peasants threaten them with imprisonment and then cart off any valuables they could find, this to a population that made less that $100 USD per year. Whole government layers are left with zero tax base now. Town governments have no taxes to collect as they can only send police against the aged mothers of the workers who have left to live under bridges in the Cities.

I witnessed first had in 1996 in Guangzhou as hundreds of millions left the land to flood the cities. The streets of Guangzhou where filled with these peasants wandering about. At that time the city was a large old decrepit looking place. Now it is HUGE and very modern. These peasants with manual labor built a city to rival New York, in many respects it is superior to New York. So the Chinese system is working at one level.

Russ I am very concerned about my IMA position. They have just released another fantastic set of holes and I expect them to have a resource calc of over 400 mill onces with a year. That's a conservative estimation.

Am I to sell and risk it runs away on me? Or do I hang in thier and wish I had sold. The Aquiline Lawsuit really puts a wrench into things.
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