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Iron ore - supply and demand rides again
Topic Started: 30 May 2014, 03:23 PM (44,304 Views)
Foxy
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Zero is coming...

http://news.theage.com.au/breaking-news-national/no-panic-about-iron-ore-pricewa-treasurer-20140605-39k02.html

Oh dear,
Fire up the small bars and whorehouses.

This storm is going to be a long one.

Peter
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miw
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Massive
3 Jun 2014, 02:26 PM
come to china ... everything is delivered :)

back in the day, used to get McD's delivered to some bars during a late night/early morning drinking session if the kitchens were closed... sometimes bar staff would order it for us !

thats going back a while though ..


from iron ore to ordering Big Macs.. really is a slow news day.. hah.
Yup. Maccas, KFC, and of course Pizza and the local FF joints as well. Seems nobody told the comrades that only pizza is allowed to be delivered. :-)
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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SittingOnDeFence
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Mustapha Mond
5 Jun 2014, 10:14 PM
http://news.theage.com.au/breaking-news-national/no-panic-about-iron-ore-pricewa-treasurer-20140605-39k02.html

Oh dear,
Fire up the small bars and whorehouses.

This storm is going to be a long one.

Peter
If a government is saying there is no reason to panic then we should believe them

Maybe this is why Troy Buswell got out - it was a cry for help?
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newjez
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SittingOnDeFence
5 Jun 2014, 10:22 PM
If a government is saying there is no reason to panic then we should believe them

Maybe this is why Troy Buswell got out - it was a cry for help?
To be fair, you can't change govt policy on what may be a blip. But if it is sustained, then austerity will bite hard.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Foxy
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Zero is coming...

In the old money 1980 $100 today is about $9 then.

So the iron ore is getting in 1980 dollars about $9.20 per ton.

Coal is now uneconomic to pull out of the ground.

What does the leave??

hmmm i wonder.

Time that the girls do their bit.

http://www.youtube.com/watch?v=gg4mqNvY53M


Small bars and whorehouses.

Maybe Troy is the boy.
Edited by Foxy, 5 Jun 2014, 11:45 PM.
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goldbug
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Everything is going down, including gold and including houses, wages. Deflation worldwide and it will be a killer. There is only one way to play it. No debt and cash or cash equivalents. It if follows the pattern of the last depression we will see gold take a big jump at some point. I would have thought this unlikely in the modern age but the way the nations of the world are filling their vaults it has become more than likely.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Count du Monet
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goldbug
6 Jun 2014, 09:05 AM
Everything is going down, including gold and including houses, wages. Deflation worldwide and it will be a killer. There is only one way to play it. No debt and cash or cash equivalents. It if follows the pattern of the last depression we will see gold take a big jump at some point. I would have thought this unlikely in the modern age but the way the nations of the world are filling their vaults it has become more than likely.
The banking system creates extremes of deflation and inflation. We've had deflation since 2007, so don't worry. Jigabot inflation will most likely follow!
Take heart, all is not lost! :D

http://www.theaustralian.com.au/business/latest/rio-tinto-tips-iron-ore-price-above-us100/story-e6frg90f-1226943699648
Quote:
 
Rio Tinto tips iron ore price above $US100

Daniel Palmer
June 05, 2014 12:30PM

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Rio Tinto boss Sam Walsh has suggested the decline in the iron ore price may be nearing an end.

In response to Goldman Sachs’ projection for a continued fall in the price of iron ore to $US80 a tonne, Mr Walsh said he was confident the retreat wouldn’t extend that far.

“I don’t think we’re going to go down to $US80 or else a lot of my friendly competitors are going to disappear,” he told Bloomberg TV in London yesterday.

“When we saw prices at $US80 a year and a half ago, we saw a number of people come out of the market; domestic supply in China, Africa and some in Australia.”

Mr Walsh, who has served as Rio’s chief executive since January 2013, said that the make-up of supply and demand should see a recovery in the price of the commodity, which has fallen 30 per cent so far this year.

“I think that $US80 is actually too low,” he said. “I suspect a level of somewhere north of $100 is more realistic.”


Hmmm, I wonder how the fat lady will go with her 50% grade Roy Hill?
Edited by Count du Monet, 6 Jun 2014, 01:01 PM.
The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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stinkbug
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Count du Monet
6 Jun 2014, 12:51 PM
We've had deflation since 2007, so don't worry.
I thought you said we have something like 5.5% inflation?
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Count du Monet
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stinkbug
6 Jun 2014, 01:05 PM
I thought you said we have something like 5.5% inflation?
That's the monetary inflation or devaluation as I estimate it.

As I've pointed out on numerous occasions which you have overlooked. When the worlds talks about deflation and inflation, today we are generally referring through to that connected with the banks credit cycle. We are talking credit inflation and deflation.
The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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stinkbug
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Count du Monet
6 Jun 2014, 01:16 PM
That's the monetary inflation or devaluation as I estimate it.

As I've pointed out on numerous occasions which you have overlooked. When the worlds talks about deflation and inflation, today we are generally referring through to that connected with the banks credit cycle. We are talking credit inflation and deflation.
The last time we discussed this you stated that inflation was at 5.5% or so because of money printing. I said that meant that real inflation was about 2.5% because GDP was about 3%, so as the money supply increases the value it holds decreases. But this is tempered by the fact that the pie is growing, so each slice (ie dollar) is realistically reducing in value (inflation) at about 2.5-3% (which, coincidentally, is the same as the published figures for inflation).

Do you agree with this? Do we perhaps have a terminology issue?
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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