Idaho Eagle Forum: Idaho Governor Sells Out His State's Businesses to China

[valkyree]

http://www.oregonlive.com/environmen...vernors_d.html

SEATTLE -- Montana Gov. Brian Schweitzer came to Seattle Wednesday to meet with his Washington counterpart and push for a proposed major coal shipping terminal on the lower Columbia River.

Schweitzer and fellow Democratic Gov. Chris Gregoire met at a downtown Seattle office about the proposal by Millennium Bulk Logistics to build the terminal west of Longview and export up to 5.7 million tons of coal a year to China and other Asian countries.

The coal would come from the Powder River Basin in southeastern Montana and Wyoming.

Schweitzer supports the project as a way to boost his state's coal-mining industry. Both Montana and Washington should be behind the project, which would improve the economy and create jobs in both states, he said.

"This is a fact-finding mission for me," Schweitzer said, to learn what coal companies need to do to get the regulatory permission to build the port.

Schweitzer said he's trying to understand why there's resistance to exporting coal as opposed to burning it to produce electricity in Montana and then transmitting it to Washington and other states.

Gregoire's position is that she doesn't want to stand in the way of progress, but wants to make sure the proper environmental and regulatory processes are followed, said spokesman J. Cory Curtis.

In November, Cowlitz County commissioners voted to give Millennium, owned by Australian coal company Ambre (AM-ber) Energy, a permit to redevelop the site. However, that decision was appealed last month to the Washington state Shorelines Hearings Board by four environmental groups.

Since then, the state Ecology Department has asked to intervene in the appeal, saying the county should have analyzed greenhouse gas emissions more broadly and not just in the immediate area of the Longview project.

Earlier in the day, Schweitzer met with Cowlitz County commissioners in Kelso and toured the proposed terminal site.

that explains it - sell our coal to China so we can buy more oil from the Saudis - geesh

[Sleeping Cobra1]

I think it's pathetic to sell our own natural resources we we NEED it.

[Homesteader]

Well at least they'll be coming here LEGALLY and with some $$.

I personally don't have problems with the Chinese PEOPLE. In many ways they support a stronger capitalist system than our own country.

How far we have fallen.

[sojourner for Truth]

Well it gets worse. With Soros saying China needs to take the lead and another currency replace the U.S. Dollar, it looks like American companies are in agreement. Caterpillar and McDonald's buying China's Bonds.

http://news.smh.com.au/breaking-news...105-19g2w.html

[AskYourselfWhy]

Cities are doing the same thing to balance their budgets. Domestic developers and entrepreneurs can't get credit to do things, so cities are selling off assets to the Chinese who don't need credit.

[Almost Ready]

Well it gets worse. With Soros saying China needs to take the lead and another currency replace the U.S. Dollar, it looks like American companies are in agreement. Caterpillar and McDonald's buying China's Bonds.

http://news.smh.com.au/breaking-news...105-19g2w.html

Last year the biggest banks, including HSBC, announced that companies looking for money issue their debt bonds in Yuan rather than dollars. By doing this, they are able to get the money for a guaranteed lower interest rate, and IIRC, the banks are also cutting their fees drastically if they are among the first to act. Maybe if you raise cash in yuan this year.

Frankly, folks with money to lend don't want to lend it in dollars because of the dismal record of that currency in holding its value -- having lost 97% since 1913.

McDonalds is NOT buying China bonds, but issuing their own bonds in another currency, independent of dollar ties.