The World's largest slave trader Britain used slave ships to transport 85,000 convict slaves to lutruwita. Britain carried-out the genocide of the local Aboriginal people. Today every adult Tasmanian is represented by 21 different parliamentarians. The state is a bankrupt, colonialist basket case. We can publish your original content under the Creative Commons Attribution license. insidetasmania at gmail dot com
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The only difference between civilization and anarchy is us.
19 Jun 2019
17 Jun 2019
Hong Kong Forced Extraditions - What Side Is Scott Morrison On?
We are seeing absolutely massive pro-democracy protests in Hong Kong but what side is Australia's 'costume Christian morality' Prime Minister Scott Morrison on?
Inside Tasmania is sure ScuMo is on the side of the undemocratic, totalitarian communist thugs that rule China.
Go on Morrison you gutless yes-man, tell us who you support?
Inside Tasmania is sure ScuMo is on the side of the undemocratic, totalitarian communist thugs that rule China.
Go on Morrison you gutless yes-man, tell us who you support?
11 Jun 2019
Advance Australia White WTF?
There are problems with Australia's racist national anthem. See what they are?
WHAT HAS BRITAIN DONE FOR AUSTRALIA?
Britain must compensate Tasmania for genocide and convict transportationEvery time I watch TV or Newsradio I hear a Pommy accent telling Aussies how it's done. They run the police forces, transport, unions and the government. Poms must be fleeing Britain in record numbers. No wonder so many Australian politicians had dual citizenship? Meanwhile real Aussies can't get a job in this neo-colonial penal colony.
Brexit is just a symptom of whats wrong with Britain. The Brits always stole whatever they wanted from the 'colonies'. They are leaving the EU but why did an 'empire' have to join the EU? The Brits just want to leave with more than they came with.
FACT. A PERSON HAS TO SWEAR ALLEGIANCE TO THE 'CROWN' BEFORE THEY CAN BASH ABORIGINALS TO DEATH
Britain spent 200 years bashing Aboriginals to death in prison cells, but it always takes 6 to 10 of the slobs to do. After the Tasmanian genocide and the attempted genocide and ethnic cleansing on mainland Australia, an 80,000 year old culture is being replaced with Africans, Arabs and Pacific Islanders who predictably start killing each other. Fair dinkum! British are total half-wits.
Look at how they established Hong Kong as a result of the Opium Wars when the British were trafficking narcotics to the Chinese? The Brits have a fake royal family and most males are hopelessly addicted to alcohol which is the waste product of fungi. (yeast is a fungi).
Obviously, Brits have made Britain unlivable so they are fleeing to Australia, but when you arrive how about treating Aussies with respect? Especially the Aboriginals that you spent centuries trying to destroy. You gave us your human waste and we built a country out of it but we have to go a lot further.
Democracy doesn't work because it is the will of the average. It gave us Advance Australia Fair, The British Empire instead of an Australian republic and it gave us ScuMo. Feel very sorry for ScuMo - he is confusion and delusion personified.
When you have people descended from the oldest culture on Earth as well as people from the opposite side of the Earth, you get the maximum possible genetic diversity. This is the real reason Britain spent centuries bashing Aboriginals to death. Deep down the British invaders know Australians of Aboriginal descent are far superior to the inbred, retarded and psychologically crippled British overlords.
7 Jun 2019
Why Did The AFP Stop The Largest Ever Ice Haul Being Substituted With Fake Drugs?
UPDATE.
July 16 2019 AFP commissioner Andrew Colvin has resigned possibly due to political interference in the Australian Federal Police.
Today we read the Australian Border Force intercepted the 'The largest ever ice haul discovered on Australian soil'. The drugs were hidden in speakers from Thailand.
'The 1.596 tonnes of ice equates to about 16 million drug deals, with an estimated street value of $1.197 billion.
Another 37 kilograms of heroin was also found, which has a street value of about $18.5 million.' Notice that's in the thousands of millions of dollars?
At the same time the Border Force and the AFP announced this massive drug haul the Federal Police 'pleaded with anyone with information to come forward.'
'Anyone with information should call Crime Stoppers on 1800 333 000' Fair Dinkum!
But isn't it good policing practice to replace intercepted drugs with decoy drugs in order to arrest the crooks taking delivery of the shipping containers?
Why wasn't this done with this massive bust? The AFP arrested a mountain of drugs but no drug traffickers. Why?
Were the AFP too busy raiding journalists to substitute the drugs and put the containers under surveillance? Isn't organised crime more important than the neo-Stalinist raids on the media just to track leaks from the same government that pays the AFP's wages?
Isn't it time the Australian Federal Police stopped being Scott Morrison's personal KGB agency and actually caught high level criminals without pleading for the public's help?
Inside Tasmania will update this story as more information comes to light. In the meantime we have a lot of drugs in custody while the traffickers are free to 'have another go'. Why is the Australian public being held to ransom by what is effectively a 'secret police' force?
July 16 2019 AFP commissioner Andrew Colvin has resigned possibly due to political interference in the Australian Federal Police.
Today we read the Australian Border Force intercepted the 'The largest ever ice haul discovered on Australian soil'. The drugs were hidden in speakers from Thailand.
'The 1.596 tonnes of ice equates to about 16 million drug deals, with an estimated street value of $1.197 billion.
Another 37 kilograms of heroin was also found, which has a street value of about $18.5 million.' Notice that's in the thousands of millions of dollars?
At the same time the Border Force and the AFP announced this massive drug haul the Federal Police 'pleaded with anyone with information to come forward.'
'Anyone with information should call Crime Stoppers on 1800 333 000' Fair Dinkum!
But isn't it good policing practice to replace intercepted drugs with decoy drugs in order to arrest the crooks taking delivery of the shipping containers?
Why wasn't this done with this massive bust? The AFP arrested a mountain of drugs but no drug traffickers. Why?
Were the AFP too busy raiding journalists to substitute the drugs and put the containers under surveillance? Isn't organised crime more important than the neo-Stalinist raids on the media just to track leaks from the same government that pays the AFP's wages?
Isn't it time the Australian Federal Police stopped being Scott Morrison's personal KGB agency and actually caught high level criminals without pleading for the public's help?
Inside Tasmania will update this story as more information comes to light. In the meantime we have a lot of drugs in custody while the traffickers are free to 'have another go'. Why is the Australian public being held to ransom by what is effectively a 'secret police' force?
29 May 2019
Australians Wanted A Climate Change Alternative That Labor Couldn't Deliver
The May 18 Federal election was being called the 'climate change election'. With Clive Palmer and all of the conservatives campaigning on a platform of coal mining, people looked to Labor to provide an alternative. Sadly it wasn't there.
Incredibly, the Labor half-wits have still not clicked they could have been an alternative government.
These idiots deserve a long time in opposition.
There are no points for cloning the policy of the other major party.
As a result our intelligence's are insulted by the appointment of Warren Stench as 'Great Barrier Reef Envoy' for plastics not climate change.
I heard Stench on NewsRadio refusing to link climate change with the death of the reef many times in one short interview.
Stench, like most Liberals has corruption history
but corruption is mandatory in the Liberal Party. Look at Sinodinos, Mathias Conman and Angus Taylor to name a few.
Right - Warren Stench the Great Barrier Reef Envoy responsible for destroying the largest living structure on the planet.
Warren's handler ScuMo smirks in the background.
Labor could have saved Australia from this garbage but were too retarded.
Incredibly, the Labor half-wits have still not clicked they could have been an alternative government.
These idiots deserve a long time in opposition.
There are no points for cloning the policy of the other major party.
As a result our intelligence's are insulted by the appointment of Warren Stench as 'Great Barrier Reef Envoy' for plastics not climate change.
I heard Stench on NewsRadio refusing to link climate change with the death of the reef many times in one short interview.
Stench, like most Liberals has corruption history
but corruption is mandatory in the Liberal Party. Look at Sinodinos, Mathias Conman and Angus Taylor to name a few.
Right - Warren Stench the Great Barrier Reef Envoy responsible for destroying the largest living structure on the planet.
Warren's handler ScuMo smirks in the background.
Labor could have saved Australia from this garbage but were too retarded.
27 May 2019
Stopping Conservatives From Dragging Australia Into A New Dark Age
Introducing The ScuMo 'Enlightenment Meme'
It was Scott Morrison and nobody else that bought religion into the 2019 Federal election campaign. So we turned his propaganda into a meme.
The World doesn't need populist opportunists undoing centuries of scientific research and presenting a suit of hand-crafted myths as 'reality'.
Science made huge strides in the 20th and 21st centuries but that knowledge is being systematically degraded and replaced by sedimentary layers of ignorance.
Dragging these self-serving hypocrites into the 21st century is in the national interest. Why not personalise the meme with your own message of enlightenment for ScuMo?
It was Scott Morrison and nobody else that bought religion into the 2019 Federal election campaign. So we turned his propaganda into a meme.
The World doesn't need populist opportunists undoing centuries of scientific research and presenting a suit of hand-crafted myths as 'reality'.
Science made huge strides in the 20th and 21st centuries but that knowledge is being systematically degraded and replaced by sedimentary layers of ignorance.
Dragging these self-serving hypocrites into the 21st century is in the national interest. Why not personalise the meme with your own message of enlightenment for ScuMo?
25 May 2019
Morrison Is Using Coal To Grow India's Population
Drowning in debt, Morrison has no choice regarding the Adani coal mine and India knows it. They will mine the coal, grow India's obscene population and degrade more of the planet. When they have gone Morrison and his proxies will be left with an even bigger debt.
Why Can't Scott Morrison tell the truth?
Why doesn't he declare Australia is debt crippled? How can Morrison lie that another party caused Australia's $700 billion debt when Morrison has a budget surplus. The lies are just compounding for this hapless fool.
We saw Morrison invite cameras into his Pentecostal Church during his election campaign.
So what values does Morrison really have? His endless campaign was a spin-fest of social manipulation. Take Frydenberg's budget?
On the day after April fools day Frydenberg announced "the first budget surplus in more than a decade."
Which is a complete lie because the Australian Federal Government has a $700 billion debt.
Morrison didn't argue with the lie which makes Frydenberg, Morrison and Mathias Conman all liars. We have a government of liars.
So what other immoral activities do these accomplished liars condone? Raping and killing woman? Well they are in the right country for that aren't they? Raping and killing Australians doesn't translate too well in the media but raping and killing the entire planet is something Morrison and his team of hand-picked liars think will slip under the radar. Fake Christian Scott Morrison will be under the microscope for the next 3 years because everybody knows he is a liar.
20 May 2019
ScuMo Wins A $700 Billion Debt With No Chance To Repay
THE NEANDERTHALS ELECTED A NEANDERTHAL
After the muted jubilation of ScuMo's 'miraculous' election victory we can turn to what this means for the country.
With federal debt soaring to over $700 billion ScuMo wants to hand-out tax cuts.
Australia is already broke but this is the bloke who re-opened an immigration detention centre just to hold a press conference.
Shyster treasurer Frydenberg and his 'budget surpluses' are from the mythical land of unicorns.
In any other business like tax accountancy his surpluses would be labelled 'fraud'.
Murdoch's News Ltd will remain a tax-exempt religious charity under ScuMo, as will scores of multinationals who avoid all tax in Australia simply by taking-out imaginary loans from a parent company in a tax haven. ScuMos LNPs love tax havens more than they love their own mothers.
Meanwhile ScuMo and the Shyster will oil the rusty RoboDebt generator so they can abuse the battered housewives of struggle street.
Someone said ScuMo went into this election with no front bench and no policy but he did have one policy. He's going to let an Indian scrap metal dealer dig-up coal to supply the Indian electricity market so India can produce billions of baby Indians and take-down whats left of the planet's biodiversity. (Note to ScuMo. Worshiping nature and the universe is infinitely more powerful than your quaint man-made 'beliefs'.)
And that's where ScuMo's logic is revealed as the work of an imbecile. Destroying the Earth's ecology can never be transformed into an asset. The liabilities will just keep piling-up. Agricultural output will continue to plummet. Likewise tourism revenue from the Barrier Reef or the whole of Queensland for that matter. Why visit some redneck paradise built on global coastal flooding? Even Liberal nutter John Alexander said 'move to higher ground'.
Does ScuMo agree with Alexander or not?
Luckily Australia has some thinkers in the Senate to block these nutjobs.
Meanwhile, we get 3 years of low-lifes like Barnaby Joyce, Mathias Conman, Angus Taylor and the ultra-weird Michaelia Cash. But 3 years goes by very quickly. The cartoonists and bloggers of Australia will have some excellent Neanderthal material to work with 👽
Barnaby Joyce - CORRUPT, CORRUPT, CORRUPT, CORRUPT,
Angus Taylor - tax haven, tax haven, tax haven, tax haven,
Why ScuMo is forced to hold down interest rates. Because the government owes $700 billion, any rate rise means all the tax you pay goes straight to loan repayments and none of your taxes goes to running the country.
So ScuMo leans on the Reserve Bank which is actually a government department. (They always lie about it being 'independent'.)
The government is punishing all Australians who are debt-free for the government's debt crisis. There is no reason for Australians to save money. You may as well buy gold. The actual situation is explained here.
After the muted jubilation of ScuMo's 'miraculous' election victory we can turn to what this means for the country.
With federal debt soaring to over $700 billion ScuMo wants to hand-out tax cuts.
Imbecile, actually. |
Shyster treasurer Frydenberg and his 'budget surpluses' are from the mythical land of unicorns.
In any other business like tax accountancy his surpluses would be labelled 'fraud'.
Murdoch's News Ltd will remain a tax-exempt religious charity under ScuMo, as will scores of multinationals who avoid all tax in Australia simply by taking-out imaginary loans from a parent company in a tax haven. ScuMos LNPs love tax havens more than they love their own mothers.
Meanwhile ScuMo and the Shyster will oil the rusty RoboDebt generator so they can abuse the battered housewives of struggle street.
Someone said ScuMo went into this election with no front bench and no policy but he did have one policy. He's going to let an Indian scrap metal dealer dig-up coal to supply the Indian electricity market so India can produce billions of baby Indians and take-down whats left of the planet's biodiversity. (Note to ScuMo. Worshiping nature and the universe is infinitely more powerful than your quaint man-made 'beliefs'.)
And that's where ScuMo's logic is revealed as the work of an imbecile. Destroying the Earth's ecology can never be transformed into an asset. The liabilities will just keep piling-up. Agricultural output will continue to plummet. Likewise tourism revenue from the Barrier Reef or the whole of Queensland for that matter. Why visit some redneck paradise built on global coastal flooding? Even Liberal nutter John Alexander said 'move to higher ground'.
Does ScuMo agree with Alexander or not?
Luckily Australia has some thinkers in the Senate to block these nutjobs.
Meanwhile, we get 3 years of low-lifes like Barnaby Joyce, Mathias Conman, Angus Taylor and the ultra-weird Michaelia Cash. But 3 years goes by very quickly. The cartoonists and bloggers of Australia will have some excellent Neanderthal material to work with 👽
Barnaby Joyce - CORRUPT, CORRUPT, CORRUPT, CORRUPT,
Angus Taylor - tax haven, tax haven, tax haven, tax haven,
Why ScuMo is forced to hold down interest rates. Because the government owes $700 billion, any rate rise means all the tax you pay goes straight to loan repayments and none of your taxes goes to running the country.
So ScuMo leans on the Reserve Bank which is actually a government department. (They always lie about it being 'independent'.)
The government is punishing all Australians who are debt-free for the government's debt crisis. There is no reason for Australians to save money. You may as well buy gold. The actual situation is explained here.
20 Apr 2019
The US Murdered 66,000 Iraqi Civilians Yet Somehow Julian Assange Is The Bad Guy?
Expect to see more corrupt US politicians and white supremacist bureaucrats attacking Australian Julian Assange now he is in UK custody.
Before you get swept-up by US propaganda consider this fact? Wikileaks was the main source of Iraq Invasion information the US government desperately had to cover-up. Wikileaks revealed facts like the murder of Iraqi women and children by the US in an illegitimate war.
Wikileaks published the Iraq War Logs in October 2010. The logs revealed the deaths of an extra 66,000 civilians bringing the total Iraq Body Count to over 150,000, 80% of them civilians. Incredibly, the US murdered 700 civilians just for coming too close to checkpoints in a war based on lies.
There must be thousands of taxpayer-trained killers roaming the streets of the US today and the rest of world knows these murders can never be justified and went unpunished. 78% of the 9/11 terrorists were Saudi Arabians so why did the US slaughter 120,000 Iraqi civilians in response? Today the US, the UK and Australia are selling the Saudis as much arms as the criminal religious state want.
So how many people were ever prosecuted for US war crimes and atrocities in Iraq and are any of them behind bars today? We believe none. (leave a comment if you know more)
Most high-level US war criminals were only demoted and their charges were dropped.
The Intellectual Collapse Of The US And Australia
So after the US killed 120,000 civilians in Iraq they have a transexual and a computer geek behind bars - 2 individuals who didn't kill anybody. That simply means telling the truth is a more heinous crime than murder in the US. And this is the precise reason why America is a failed state. Americas' rational thinking has broken-down. That nation has imploded intellectually and may as well put the tooth fairy on trial for war crimes. The US has also failed morally and isn't that what really counts?
Imagine if the US had pursued the killers of 120,000 Iraqi civilians as energetically as they hunted-down Manning and Assange?
Inside Tasmania is disgusted with Australian conservative operatives John Howard and subsequent conservative 'leaders'. Not only is Howard a war criminal but he wrote a character reference for a convicted pedophile. Imagine if Howard wrote a character reference for one of George Pell's victims? That will never happen because conservative slime only support elites and abuse the innocent.
Australia's last conservative PM is so detached from reality he could only make an irrational comment when Pamela Anderson appealed to him to help Assange.
Pamela Anderson has more balls than this pathetic imbecile who stands for nothing.
What a disgrace these conservative psyhopaths are? Conservative leaders have done nothing for whistleblowers, upholding the truth or the future of the human race. It's corruption, News Ltd propaganda and tax evasion for these scum.
Have a long hard look at where conservative 'thinking' always ends-up?
Anywhere there are white supremacist, conservative politicians in power there are bizarre, irrational and inhuman outcomes.
Conservatives always brutalize and destroy innocent people because their sick thinking is reinforced by even sicker thinking until it becomes completely irrational and can only be termed 'group psychopathy'.
The Australian Government Supports The Mass Murder Of Muslims
Q: Whats the difference between the Iraq Invasion and the Christchurch Massacre?
A: The Iraq Invasion was taxpayer-funded while the Christchurch Massacre was privately funded.
The fact Australia took part in the Iraq invasion and is still covering-up the mass killings, proves that murdering Muslims really is Australian Government policy.
Before you get swept-up by US propaganda consider this fact? Wikileaks was the main source of Iraq Invasion information the US government desperately had to cover-up. Wikileaks revealed facts like the murder of Iraqi women and children by the US in an illegitimate war.
image courtesy ABC Australia |
There must be thousands of taxpayer-trained killers roaming the streets of the US today and the rest of world knows these murders can never be justified and went unpunished. 78% of the 9/11 terrorists were Saudi Arabians so why did the US slaughter 120,000 Iraqi civilians in response? Today the US, the UK and Australia are selling the Saudis as much arms as the criminal religious state want.
So how many people were ever prosecuted for US war crimes and atrocities in Iraq and are any of them behind bars today? We believe none. (leave a comment if you know more)
Most high-level US war criminals were only demoted and their charges were dropped.
The Intellectual Collapse Of The US And Australia
So after the US killed 120,000 civilians in Iraq they have a transexual and a computer geek behind bars - 2 individuals who didn't kill anybody. That simply means telling the truth is a more heinous crime than murder in the US. And this is the precise reason why America is a failed state. Americas' rational thinking has broken-down. That nation has imploded intellectually and may as well put the tooth fairy on trial for war crimes. The US has also failed morally and isn't that what really counts?
Imagine if the US had pursued the killers of 120,000 Iraqi civilians as energetically as they hunted-down Manning and Assange?
Inside Tasmania is disgusted with Australian conservative operatives John Howard and subsequent conservative 'leaders'. Not only is Howard a war criminal but he wrote a character reference for a convicted pedophile. Imagine if Howard wrote a character reference for one of George Pell's victims? That will never happen because conservative slime only support elites and abuse the innocent.
Australia's last conservative PM is so detached from reality he could only make an irrational comment when Pamela Anderson appealed to him to help Assange.
Pamela Anderson has more balls than this pathetic imbecile who stands for nothing.
Pamela Anderson |
What a disgrace these conservative psyhopaths are? Conservative leaders have done nothing for whistleblowers, upholding the truth or the future of the human race. It's corruption, News Ltd propaganda and tax evasion for these scum.
Have a long hard look at where conservative 'thinking' always ends-up?
Anywhere there are white supremacist, conservative politicians in power there are bizarre, irrational and inhuman outcomes.
Conservatives always brutalize and destroy innocent people because their sick thinking is reinforced by even sicker thinking until it becomes completely irrational and can only be termed 'group psychopathy'.
The Australian Government Supports The Mass Murder Of Muslims
Q: Whats the difference between the Iraq Invasion and the Christchurch Massacre?
A: The Iraq Invasion was taxpayer-funded while the Christchurch Massacre was privately funded.
The fact Australia took part in the Iraq invasion and is still covering-up the mass killings, proves that murdering Muslims really is Australian Government policy.
12 Apr 2019
The 'Legal Theft' of Arrium Steel
An Inside Tasmania Exclusive
The problem of short selling is exemplified by the “legal theft” of Arrium Ltd which upon analysis wasn’t legal at all. Arrium has its roots in BHP (the big Australian) and was “spun off” in the 1990’s as OneSteel at the same time as Bluescope. It is a 100-year-old asset of national strategic importance. Arrium Australia has 10,000 employees, of which 4,000 are employed in Whyalla and the nearby mines.
Arrium had a diverse set of assets including in the east coast highly profitable mini mills, tube and wire mills, recycling plants and the OneSteel Metal Centre national distribution network. Arrium had 80,000 shareholders owning 2.94 billion shares before they went into voluntary administration (VA) in April 2016 owing $2.8 billion to creditors.
The main stated reasons for VA are varied but key factors are;
The federal government failing to protect our local steel industry by not implementing anti-dumping legislation, allowing our markets to be flooded with cheap, inferior quality, Chinese and others imports, and poor decisions at Arrium board and executive level, such as to borrow and purchase the Southern Iron Mine at an overvalued price at the bottom of the commodity cycle. The mine was soon mothballed.
However, these factors alone would not have caused Arrium to go into administration. A successful capital raising would have caused some dilution and short term share price decrease but Arrium would at least have had a future. The primary reasons Arrium was masterminded into administration are cleverly hidden.
In September 2014 when the share price was $0.60 Arrium announced a $754 million capital raising. The capital raising price was $0.48 and on the first day of trading after the announcement, there were 37,582,199 shares short sold and the share price collapsed to 40c.
When the offer closed the share price was $0.345. The capital raising was sabotaged by a combination of short selling and algorithmic trading. Broker trading programs were tuned aggressively to take down prices. It was accomplished the same way countless stocks have had billions of dollars removed from their market capitalisations i.e., algorithms being tuned to make artificial adjustments to prices in relentlessly forcing prices lower.
Factor number two in Arrium’s demise was Arrium management. After the savage attack by short sellers, the Arrium Chairman issued an address at the AGM. He stated “Many of the questions or comments forwarded to me in the lead up to today’s meeting were, understandably, about the share price. Our share price performance has been extremely disappointing. There are many factors that can influence a company’s share price, but negative sentiment around growth in China including the outlook for iron ore prices, steel over-capacity in Asia, our level of debt and uncertainty around the strategic
review outcomes appear to be relevant factors in poor performance”.
The reality was that the “disappointing” share price was almost all to do with predatory short sellers executing trades that conflict with the laws that govern the markets. That should have been obvious to the Chairman if he was on planet earth. With management like that, it’s no wonder that shorters felt safe to target Arrium.
A related factor concerned the Banks who were involved in margin lending. Hapless clients of the banks who purchased Arrium stock on margin found that their shares were in turn lent out to short sellers. It was a bastardly act though perfectly legal. It epitomizes the corporate greed and lack of ethics that has taken over the financial system. It has become consumed by a culture of unmitigated greed. Just imagine the uproar if a bank retained that power in the case of a house mortgage loan i.e., they lend the house to someone who they know will vandalise it. It should be illegal for a bank to share knowledge about margin loans they have against stocks, with anyone. Industry super funds were also lending out large volumes of their clients shares to short sellers.
Then the iron ore price fell to $35 a tonne. Arrium was placed into voluntary
administration due to its large debt. The administrators gouged $1 million per week to “save” Arrium. They sold one of Arrium’s prize jewel assets, Moly Cop for $1.6 billion AUD leaving debt at $1.2 billion. Then while Arrium was still in the hands of the administrators, there was a global and local steel cycle boom.
This is the point where Arrium should have had its outstanding debt refinanced by the big four banks and then put back in the hands of shareholders.
Instead, Australia’s PM Malcolm Turnbull met with the head of England’s GFG Alliance and made a secret back room deal. Later that month, Arrium had been sold by the administrators to GFG Alliance at a sale price rumoured to be $700 million. EBITDA at that time was $400 million pa. The sale price was not formally publicized. The administrator was then given a grant by the federal government to postpone a lodgement of financial returns until November 2018. The concession meant that no-one really knew the sale details or the likely improved profits that Arrium was making.
Two weeks after Arrium was placed in administration, Christopher Pyne placed 50% tariffs on Chinese imported steel and after Arrium was sold to GFG Alliance, the Australian federal government began buying steel from Arrium for government projects.
Arrium is yet another example of the exchange of wealth that occurs from ‘mum and dad’ investors to the corporate fat cats, with the ‘mums and dads’ left with nothing.
If Arrium management were truly interested in looking after their own shareholders they
would have spoken out about the manipulation of the share price. It was obvious that it was taking place. And as is usually the case, ASIC was nowhere to be seen.
If those controlling the Australian government at that time had taken an interest in the welfare of Australia’s ONLY manufacturer of certain roll steel sections, they would have banned the short selling of Arrium shares.
If our PM, a former investment bank broker wasn’t pandering to large foreign interests he wouldn’t have negotiated a secret deal which left many Australian shareholders in financial ruin. If the banks and industry super funds didn’t lend stock without the knowledge of the real ‘mums and dads’ owners whose assets were being destroyed in the process, the Arrium share price could be $3 now. If any one of these situations didn’t happen, Arrium would probably still be in the hands of its Australian shareholders and they would have done quite well out of their investment.
If the Financial Review is to be believed, GFG Alliance now has annual earnings of $450 million to $500 million and it plans to list the Arrium assets back on the ASX. Morgan Stanley, the sale advisor who worked with the administrator when it was sold to GFG is in the box seat to do the listing. After buying the Arrium business for an estimated $700 million in 2017, the estimated price when it relists on the ASX is $3 billion.
The business is likely to be pitched as a play on the infrastructure construction market with steel from the GFG Alliance network used to build motorways, railways and the like across the country. In “Unspoken crimes of the ASX Part 5” I named the infrastructure companies who are crippling Australia. It is very likely those same companies will be supplied steel from the GFG Alliance; another offshore company which has done exceedingly well out of its corporate sojourn downunder.
It is a pity that it has come at the expense of Australia and Arrium shareholders while government and regulators have looked the other way.
The problem of short selling is exemplified by the “legal theft” of Arrium Ltd which upon analysis wasn’t legal at all. Arrium has its roots in BHP (the big Australian) and was “spun off” in the 1990’s as OneSteel at the same time as Bluescope. It is a 100-year-old asset of national strategic importance. Arrium Australia has 10,000 employees, of which 4,000 are employed in Whyalla and the nearby mines.
Arrium had a diverse set of assets including in the east coast highly profitable mini mills, tube and wire mills, recycling plants and the OneSteel Metal Centre national distribution network. Arrium had 80,000 shareholders owning 2.94 billion shares before they went into voluntary administration (VA) in April 2016 owing $2.8 billion to creditors.
The main stated reasons for VA are varied but key factors are;
The federal government failing to protect our local steel industry by not implementing anti-dumping legislation, allowing our markets to be flooded with cheap, inferior quality, Chinese and others imports, and poor decisions at Arrium board and executive level, such as to borrow and purchase the Southern Iron Mine at an overvalued price at the bottom of the commodity cycle. The mine was soon mothballed.
However, these factors alone would not have caused Arrium to go into administration. A successful capital raising would have caused some dilution and short term share price decrease but Arrium would at least have had a future. The primary reasons Arrium was masterminded into administration are cleverly hidden.
In September 2014 when the share price was $0.60 Arrium announced a $754 million capital raising. The capital raising price was $0.48 and on the first day of trading after the announcement, there were 37,582,199 shares short sold and the share price collapsed to 40c.
When the offer closed the share price was $0.345. The capital raising was sabotaged by a combination of short selling and algorithmic trading. Broker trading programs were tuned aggressively to take down prices. It was accomplished the same way countless stocks have had billions of dollars removed from their market capitalisations i.e., algorithms being tuned to make artificial adjustments to prices in relentlessly forcing prices lower.
Factor number two in Arrium’s demise was Arrium management. After the savage attack by short sellers, the Arrium Chairman issued an address at the AGM. He stated “Many of the questions or comments forwarded to me in the lead up to today’s meeting were, understandably, about the share price. Our share price performance has been extremely disappointing. There are many factors that can influence a company’s share price, but negative sentiment around growth in China including the outlook for iron ore prices, steel over-capacity in Asia, our level of debt and uncertainty around the strategic
review outcomes appear to be relevant factors in poor performance”.
The reality was that the “disappointing” share price was almost all to do with predatory short sellers executing trades that conflict with the laws that govern the markets. That should have been obvious to the Chairman if he was on planet earth. With management like that, it’s no wonder that shorters felt safe to target Arrium.
A related factor concerned the Banks who were involved in margin lending. Hapless clients of the banks who purchased Arrium stock on margin found that their shares were in turn lent out to short sellers. It was a bastardly act though perfectly legal. It epitomizes the corporate greed and lack of ethics that has taken over the financial system. It has become consumed by a culture of unmitigated greed. Just imagine the uproar if a bank retained that power in the case of a house mortgage loan i.e., they lend the house to someone who they know will vandalise it. It should be illegal for a bank to share knowledge about margin loans they have against stocks, with anyone. Industry super funds were also lending out large volumes of their clients shares to short sellers.
Then the iron ore price fell to $35 a tonne. Arrium was placed into voluntary
administration due to its large debt. The administrators gouged $1 million per week to “save” Arrium. They sold one of Arrium’s prize jewel assets, Moly Cop for $1.6 billion AUD leaving debt at $1.2 billion. Then while Arrium was still in the hands of the administrators, there was a global and local steel cycle boom.
This is the point where Arrium should have had its outstanding debt refinanced by the big four banks and then put back in the hands of shareholders.
Instead, Australia’s PM Malcolm Turnbull met with the head of England’s GFG Alliance and made a secret back room deal. Later that month, Arrium had been sold by the administrators to GFG Alliance at a sale price rumoured to be $700 million. EBITDA at that time was $400 million pa. The sale price was not formally publicized. The administrator was then given a grant by the federal government to postpone a lodgement of financial returns until November 2018. The concession meant that no-one really knew the sale details or the likely improved profits that Arrium was making.
Whyalla Steelworks in 2009 |
Two weeks after Arrium was placed in administration, Christopher Pyne placed 50% tariffs on Chinese imported steel and after Arrium was sold to GFG Alliance, the Australian federal government began buying steel from Arrium for government projects.
Arrium is yet another example of the exchange of wealth that occurs from ‘mum and dad’ investors to the corporate fat cats, with the ‘mums and dads’ left with nothing.
If Arrium management were truly interested in looking after their own shareholders they
would have spoken out about the manipulation of the share price. It was obvious that it was taking place. And as is usually the case, ASIC was nowhere to be seen.
If those controlling the Australian government at that time had taken an interest in the welfare of Australia’s ONLY manufacturer of certain roll steel sections, they would have banned the short selling of Arrium shares.
If our PM, a former investment bank broker wasn’t pandering to large foreign interests he wouldn’t have negotiated a secret deal which left many Australian shareholders in financial ruin. If the banks and industry super funds didn’t lend stock without the knowledge of the real ‘mums and dads’ owners whose assets were being destroyed in the process, the Arrium share price could be $3 now. If any one of these situations didn’t happen, Arrium would probably still be in the hands of its Australian shareholders and they would have done quite well out of their investment.
If the Financial Review is to be believed, GFG Alliance now has annual earnings of $450 million to $500 million and it plans to list the Arrium assets back on the ASX. Morgan Stanley, the sale advisor who worked with the administrator when it was sold to GFG is in the box seat to do the listing. After buying the Arrium business for an estimated $700 million in 2017, the estimated price when it relists on the ASX is $3 billion.
The business is likely to be pitched as a play on the infrastructure construction market with steel from the GFG Alliance network used to build motorways, railways and the like across the country. In “Unspoken crimes of the ASX Part 5” I named the infrastructure companies who are crippling Australia. It is very likely those same companies will be supplied steel from the GFG Alliance; another offshore company which has done exceedingly well out of its corporate sojourn downunder.
It is a pity that it has come at the expense of Australia and Arrium shareholders while government and regulators have looked the other way.
28 Mar 2019
Why Did Australia And New Zealand Sign The Trans Pacific Partnership With Sharia Law Brunei?
UPDATE. Brunei despot, costume sultan and small man syndrome nutjob Hassanal Bolkiah's name contains the word 'anal'. So a guy called 'anal' wants to stone gays to death? From now on we will refer to him as 'Anal'.
HassANAL's Facebook page |
Jacinda Ardern, notice Anal claims 'Muhammad* is all about love'? Is stoning people to death 'love'? Small man Anal is a devious, corrupt lying scumbag. Ms Ardern should not allow New Zealanders to travel to Brunei to be stoned to death.
Anal is fake royalty with a fake belief system. Ms Ardern has a duty of care to protect New Zealanders from this extreme Islamist nutcase.
(*PBUH means peace be upon him)
Brunei and the TPP
The Liberal government of Australia knew Brunei was implementing barbaric Sharia law but they pushed ahead anyway signing the Trans-Pacific Partnership with Brunei. Today we read Brunei "is to begin imposing death by stoning as a punishment for gay sex and adultery from next week, as part of the country’s highly criticised implementation of sharia law.
From 3 April, individuals in the tiny southeast Asian kingdom will be subject to a draconian new penal code, which also includes the amputation of a hand and a foot for the crime of theft. The capital punishments are to be “witnessed by a group of Muslims.”
Anal's gay palace photos The Guardian |
Is Scott Morrison a blatant psychopath or is he something worse? The Liberal Slime continuously peddle the myth that everything is about money. Meanwhile they have blown-out government debt with unlimited spending and cynically transferred the debt to future generations. Just like the Liberal slime has done with climate change. Morrison is a coal-fondling retard!
Losing the next election is not good enough for the Liberal Slime. They should be sued over loss of income from climate change today and for centuries to come. They should be deported to Brunei.
Does Jacinda Ardern Support Stoning Gays To Death? Why Did NZ Sign A FTA With Brunei?
photo from the Guardian |
Have a look at this NZ government web page and see how they have embraced Sharia Law nation Brunei Darussalam?
The NZ government is promoting 'fly in fly out' servicing of Brunei by New Zealanders but has Ardern mentioned gay New Zealanders can be legally stoned to death while working in Brunei? Of course not. We think Ardern should stop playing costume dramas with people's lives.
We are totally opposed to the Christchurch massacre, but believe Ardern's government enabled it to happen by having non-existent gun laws and economically assisting one of the sickest regimes on Earth. Does Jacinda Ardern support stoning gays to death or not?
Time to Boycott Brunei's International Hotels says Clooney
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