Mongolia open to foreign investors again LOL
HOW GENGHIS KHAN AND HIS DESCENDANTS CONQUER 80% OF THEN KNOWN WORLD ?
Invention of new weapons / tactics of war.
IE Alexander The Great invented long spears 15 to 18 feet long
killing enemy before enemy killed them
Mongol's success , besides employing powder explosives , was
MANOUVERABILITY AND "HIT AND RETREAT" TACTICS.
They attacked heavy armoured unmanoverable european troops ,
then retretated as if they lost
The european pursued them into abush and got slaugtered .
============
It seems ,nothing changed in EMBEDDED into Mongol's culture -way of dealing with "enemy"
1. PROBING " HIT "/ FAKE ATTACK - the phony Foreign Investment Act and attacks on OT to see how much resistance they will ecounter.
2.THE RETREAT - entering this phase now ( see below)
3. THE FINAL SLAUGHTER / NATIONALIZATION after western cos
believing it is all go ahead green light . will employ all their troops /
all their money in Mongolia .
========================
The retreat now
By Yuriy Humber - Oct 3, 2012 10:37 PM ET
Mongolia’s new government will ignore calls for the nation to take a larger share of Rio Tinto Group's Oyu Tolgoi copper and gold mine, focusing instead on attracting overseas investors to the country's biggest coal field, the foreign minister Luvsanvandan Bold said in an interview in Tokyo on Oct. 2.
Mongolia is “pro foreign investment, pro economic freedom,” said Bold
LOOOOOOOOOOOL
. Parliament last month voted down a proposal by some lawmakers to seek immediate renegotiation of the $6 billion Oyu Tolgoi accord
We’re not closing the door on any country or any company,” Bold said. “There’ll be a policy towards balancing, but nothing that will hinder Chinese investment. There is already a high level of Chinese investment in mining and there will be in the future.”
https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31618033&l=0&r=0&s=trq&t=LIST
WHY THE RETREAT NOW ?
BECAUSE THEY NEED TO SUCK INTO THEIR BAG QUADRUPLE THE AMOUNT OF MONEY they sucked- in from TRQ/RIO /SGQ
First is the $ 6 B they need to be invested in TT and the $13 b expected capitalization of Erdenes TT after going public in London ( this will be Facebook - like disaster IPO - 4 times overpriced , overhyped already before IPO....geeeesus .... the public will NEVER recover it's money from day 1 ).
At least Facebook is nor run by needy commies .
Stealing + $40 B ( OT + TT + Erdenes TT + $5 B gov bonds + many other ) is mach better than $ 12 B from OT alone .
They realized ,the attack on OT is premature .
There is much more to gain from the willing bagholders eagerly lining up to hand their money to the state sponsored scam .
The wholesale slaughter shall occur few yers from now
after they suck -in / ambush all the Japanese ,Korean ,US Chinese.AU, EU money
After foreigners will invest so much that there is no point of return / way of recouping that money .
ATTACKING SGQ , OT , TRQ, RIO , 54 AU COS, 20 CAN cos OPERATING IN M, , NOW ,MEANS THEY CAN STEAL FEW $ BILLIONS
BUT LOSE TENS OF $ BILLIONS IN NEEDED AND PLANED FURURE INVESTMENTS
THE MAIN CONTINGENT OF ENEMY TROOPS DIDN'T PURSUE THE RETRACING GHENGIS KHAN HORDES (known as commies now ) INTO FINAL AMBUSCH YET
THEY ARE ABOUT TO START DOING IT NOW ... GEEEESUS
They squandered already $ 500m advances from TRQ towards future profits , taxes royalties
They squandered already $ 270 m advances from Chalco . ment to be invested into state owned coal mine - Erdenes TT
Instead of investing that money into the mine the gov directed Erdenes TT to transfer it to their free -for -all welfare funds
So ,how they manage to develop Erdenes TT?
They lured major mining development contractor who borrowed on his own account $ 500 m to pay for ETT development He expects to be paid back soon ....LOOOOL
After that , they RE_HYPHOTHECATED SAME ASSET FOR $ 270M with Chalco LOOL
And still plan to sell that double- collaterized , already above it;s present value, asset to the public bagholder ..... geeeesus = selling Brooklyn Bridge on London exchange
Their own exchange is a disaster- no clearing of trades mechanism ( you have to go to broker and pick up physical shares ) No one serious will list or trade there
Trading like $ 5 m a week anyways LOOOOL
Meanwhile ETT is stripped of cash as soon as it appears, by the gov, to the point, ETT stopped paying it's own sub -contractors who borrowed money to be able to provide their FREE service to ETT
The ETT pyramid indebted up to wazoo , defying gravity till now , is on verge of collapse .
See interview with the apparatchik who runs ETT - having financing problems LOL..they ALWAYS WILL when gov steals foreign investors money ment for the co
capex
https://ubpost.mongolnews.mn/?p=896
Their budget didn`t colapse yet because Chalco and TRQ is KEEPING THAT FAILED STATE ALIVE ,
Yet , they treat Chalco and TRQ like a criminals , while stealing hundreds of millions from them
geeesus
But this is not enough for the bottomless blackhole of gov finances
The like $ 1b of future profits ( no one knows if will materialize in the first place )
are spent so , they'll repeat same scam with TT
Going into deeper hole
" Under the NEW proposed TT deal, investors will pay Mongolia a non-refundable US$500 million plus another US$500 million as an advance payment, the government said. The firms also will be obliged to pay all taxes and fees associated with the project to the government, and 5 percent of sales income will be paid to ETT."
see here
https://www.taipeitimes.com/News/biz/archives/2011/07/06/2003507503
UPFRONT LOSES OF $ 1 B for foreign investors even before multibillion $$ capex geeesus
While coal oversupply rising and prices falling ?
Good luck with TT invesment . LOOL
Apparatchiks cancelled the wedding deal in times when everybody was happy
Now they are proposing MUCH MORE COSTLY funeral deal in times when 200 mt of world's coal capacity ( 10 times the TT potential)
is mothballed ?
LOOOooooooooooooooL
Thats the "FRIENDLIER " face of M LOOOL
Trying to suck foreigners into own gov insolvency grave
geeeesus
Instead of preparing for MONGOLIAN ECONOMIC WINTER OF A CENTURY
( M. COAL EXPORTS FELL m/m BY 40% IN AUG = BY 20 MT ANNUALIZED and according to UB Post --see below almost stopped by now )
THE M PRINCESS TURNED UGLY DUCK ( or rather Bold Bat )
keeps behaving likle it is still in position of calling the shots .
Seems. Chalco said `: `NO MORE` and is pulling the plug = their life line
While RIO has no choice - is too deep invested in OT .
SGQ though has choice
: See the $ 2.8 - 3.5 sh SGQ can salvage by liquidating M assets here
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=31518590&l=0&r=0&s=SGQ&t=LIST
( BTW that``s what will happen to ALL the cos if gov will have 51% stake - gov will plunder them to the bankruptcy while serenading foreign investors to invest more money into the cos )
Despite that their structural budget deficit jumped like 40% to a 6% GDP
Another unerforceable , nice in intentions but phoney law says ,
deficit can not surpass 2% GDP starting 2013
LOOOOL
So, what they do ?
Gov will borrow on international markets $ 5 b = debt to GDP will
approach 100% and budget deficit to GDP will reach Greek level
geeeesus
In few years M will become the Asian Greece
West bankers know this is a Ponzi sheme but will last few years
So ,they are willing to collect high interest before dumpng the debt on
public bagholdes - the market ,,, before the Ponzi scheme will collapse
Their only way to survive and to turn every citizen into millionaire in MNT - as promissed ( they blew up the expectations so high that now people demand to be a millionaires in USD - LOOOOL ....by doing nothing ...just yelling ` get those foreign suckers `` )
is to steal those $$ tens of billions ,the foreign bagholders are so eager to lose / invest
BEWARE OF MONGOLIAN MATH
Use the few years of coming " friendly " phase towards foreign investment
and coming euphoria about "great opps " during sucking - in $ billions for both TT coal mines,AND GOV UNSUSTAINABLE DEBT EXPANSION
to EXIT AND NEVER LOOK BACK AT THAT POST SOVIET DISASTER
IN THE END THEY WILL GO THE WAY OF NEIGHBORING KYRGYSTAN= much worse than Greece
Banana Republics will be a paradise in comparison to M .
iNVESTORS got fooled once = after first attack on OT
Now they are about to be fooled twice - this ending attack on OT
EXIT before you will get fooled final third time
Not later than 2016
FOR NOW .THOUGH, ENJOY NEW COMING PHASE OF VERBAL `` FRENDLINESS `` LOOOL
===============================à
There is also counteraction against commies from many corners
IE :
-1. -M . BUSINESS COUNCIL issuing open letter to parliament ASKING TO END THIS INSANITY
https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31597283&l=0&r=0&s=trq&t=LIST
https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31591185&l=0&r=0&s=trq&t=LIST
2. -- high ranking advisors ,analysts recommending same
3.- Wold Bank , AU gov ready to help them if non-commie way chosen
4., -- Twitter apparently boozing with rage against commies
5 -- the Economic Policy Committee of the Mongolian People’s Party and the Social Democracy Institution had a conference " Is Mongolia Prepared for Economic Crisis”
including speakers
-- Ambassador and international economic analyst, D.Davaasambuu ,
-- Former Prime Minister of Mongolia, S.Sodnom
They expressed concerns about COMING FAST M crisis
But the apparatchik = deputy Minister of Finance Ch.Gankhuyag said
"shut up " - the official propaganda - we are advancing towards commie paradise - is on
https://ubpost.mongolnews.mn/?p=1095
6 -- Articles in U1B Post like this one .... some quotes
https://ubpost.mongolnews.mn/?p=1172
" As our coal exports have basically stopped and the “Dutch disease”is relapsing in our economy, budget revenue has fallen to leave a gap of MNT 1.2 trillion (almost one billion USD= 10% GDP )"
The Development Bank of Mongolia raised USD 580 million after its debut of issuing government guaranteed bond on the international market.We have spent six months losing MNT 100 million every day paying the loan interest because there were no calculations or whatsoever about how the loan would be used.
Both the chairman of the board and the chief executive officer of the bank had resigned to honor their code of professional ethics and objecting to using the loan for fulfillment of election promises.
The Chief Executive Officer of Erdenes Tavantolgoi LLC has already given in MNT 410 billion revenue of the company under pressure from the government.
While getting a anotrhger $ 5 B loan on the behalf of its citizens and wasting it, the government, which is not even able to build proper roads, is taking a risky action
Apparently, in spite of being incapable of collecting the existing taxes, they are going to create new ones.
A clear example of a law that is disappearing due to lack of implementation is the Value Added Tax (VAT) Law. This law has played a significant role in strengthening the underground economy and encouraging corruption
About 5000 directors and accountants from 2000 companies who either failed to obey or misused this law to gain unlawful profits are being held responsible for their actions.
This is the ending of this law, but it looks like that the law will vanish and commercial tax is most likely to replace it.
Can you remember the Democratic Party’s election promise to collect one percent tax from small and medium enterprises?
As of 2011, one third of 66 thousand economic entities in Mongolia paid MNT 3.1 trillion for taxes, 90 percent of which was paid by 330 companies (two percent of all economic entities) only.
EXXCEPT THE 330 BIG COS ALMOST NO other MONGOLIAN CO PAYS ANY TAXES WILD WEST- FREE FOR ALL
7. THE TENS OF THOUSANDS ARTISAN GOLD MINERS ARE SMUGGLING TO CHINA 7 TONS of GOLD / Y = MORE THAN OFFICIAL M EXPORTS
That's $ 350 m black market out of multibillion $ black market
Not in official stats and out of reach of ALMOST NONEXISTENT STATE FISCAL INCOME
Free of all taxes
YET THE SAME ILLEGAL ARTISANS , and other self employed smugglers , traders MAKING ON AVER $ 300/ DAY
--- much more when they hit nice vein ( A DREAM FOR AMERICAN WORKERS ) ,
are counted as poor unemployed , qualifying for gov welfare checks
paid by RIO and Chalco = YOU and ME
geeeeesus
They at lest could sent you a picture of some alkohol - junkie YOU SUPPORT as shareholder of cos operating in M
So, you can hang it on the wall and be proud .
Unlike sponsoring hungry child in Africa , who will send you thank you letter,
this one is not tax dedudtible .... sorry
Even some legal jobs ( bribes not included) earn US- comparable wages
IE. Mr. Nyamdeleg, a mop-haired 26-year-old, become a mining safety inspector, earning $1,000 a month.
Today he has offers from two mines willing to pay him $1,500 a month
There is 5 times more Americans than the entire M , population DREAMING OF EARNING $ 1500/ month
IN 5 TIMES HIGHER COST OF LIVING SITUATION TOO.
POOR MONGOLIANS ? IN NEED OF OUR HELP ?
I DON'T THINK SO ( except of course the 15% bottom in every society -old , sick, stupid,junkies etc )
Notes from investor visit
: " . I’ve never seen more Mercedes SUV’s and Hummers in one place
. Not to mention iPhones, Louis Vuitton purses, Rolex and Jimmy Choo
. Mongolian women can navigate the craziest, pothole-infested sidewalks
in 6-inch cigarette heels like no others"
8 Smuggling of everything else - you name it ...
as far as cars smuggling rings in Czech Rep. Poland ,
by Mongolian students " studying" LOL there
Apparently, the "poor" mongolians have no propblem to pay for a used car a double -triple price than in EU
Some smugglers are driving like 20 k km for 2 weeks from EU to M -
so , the profit must be high despite cost in gas and time
( or they are dumping stolen cars in M )
The top smugglers of everything , Max Brothers. are M heros
Hundreds of $$ millions worth now and running supermarkets now
9 .But have you been in M supermarket lately ?
The big thieves - the oligarchs / owners are treating every one else as a thieve .
More security guards than check -out clerks treating every customer like thieve
Why ? because M in most part is a corrupt country of bribers , thieves ( from top to bottom )and alkoholics ( if you think Russians have alkoholism problem you haven't seen M )
The most popular way of buying votes during election is to pack bunch of alkoholics from their gathering places into van and drive them to pooling station .
For a bottle they will vote fot you
Couple of wannabe " honourable " LOL MPs were cought doing that
( tip of iceberg ) and the ridings have to run elections again .
. Employers have problem with hiring , despite high and fake unemployment official stats
But are forbidden to hire disciplined , hard working and motivated Chineese
The like 20 % of HOPELESS = TOTAL LOSS - alkoholics , work 1 day
and leave the moment they got money for 1 bottle of vodka
See the on the ground impression of investors who dared to visit M
" The pollution in U1B is horrible. Summer is better than winter, but it’s still awful.
We heard several stories of guys leaving within months because they started coughing blood.
The traffic is insane and the roads are akin to a detonated mine field.
The water and electricity are inconsistent and many Mongolians are not happy
about the large foreign presence in their country.
Many think that foreigners are there to steal their resources, which includes their women
GEEEESUS
IT WILL TAKE GENERATINS TO CHANGE THEIR NOMAD -GATHERER TRIBAL ,MEDIEVAL , HOMOPHOBIC ATTITUDES , IF EVER
or to turn the "free spirits'into efficient, disciplined workforce .
Work under $ 2 k / m is for suckers in M
I saw a few black eyes, and our partner Scott saw an actual jaw lying in a pool of blood
on the sidewalk. Yes, a jaw…nobody attached to it. Players beware!
Corruption is endemic.
The 2010 Corruption index ranks M # 116 out of 178 countries
The amount of money circulationg within corruption circle may be as high as 30% official GDP
In this measure M will never be in economic crisis LOOOL
The “fool and his money” saying applies here as strongly as anywhere.
About two weeks ago, as I sipped my morning coffee and looked down
from the apartment I was staying in, I watched a drunken man stagger around
on the footpath below. A couple hundred metres to his right two
inebriated youths clutched a knee-high fence and shared the contents
of their stomachs with the grime and mud of the children’s playground…Yummy!
Gangs of drunks finding cozy meeting space in halls / stairways of app buildings
Defecating and vommiting in front of terrorized tenant;s appartment doors
Beating up for fun foreingers who happen to walk the street next to the party .
10. US embasy reports can not find the link
Google " 2012 MONGOLIA INVESTMENT CLIMATE STATEMENT "
US EMBASSY IN ULAANBAATAR MONGOLIA
IS A 96 PAGE HAIR RISING DOC - conclusion-
do not touch this S ,. with a 10 ft pole
And US cos listen - they do not invest in M.( with minor exceptions )¸
US is interested only in M military bases to surround
China and Russia at the same time ,
Random Quotes out of hundreds negatives
* GOM lacks the capacity to execute multiple reforms and projects
Investors worry that M overhelmed by those demands will
--cease to complete vital reforms
--impose new burdens on investors ( see OT attempt on money grab )
--and delay or cancel projects
When China sneezes M is dead
GOM inability to manage realistic public expectations about mining revenues
( if they do not deliver $ 1 m to every citizen every year LOOOOL
they must be stealing our mineral wealth - so nationalize the capitalist pigs )
WHAT A BUNCH OF DELUSIONAL BOLD - BATS !
LIKE A JUNKIE ON OPIUM DURING WITHDRAWAL
and no more money to continue his habit
THEY PAINTED THEMSELVES INTO CORNER = HAVE NO OTHER CHOICE BUT DESPERATE ATTEMPTS TO EXTRACT
EVERY POSSIBLE PENNY FROM GULLIBLE FOREIGN INVESTORS
TO GET FEW MORE MONTHS OF HOPIUM SUPPLY .
COMMIES WANT EVEN TO TAX YOUR EQUITY TRANSACTIONS
IN COS OPERATING IN M
GEEEESUS
WAIT FOR THE TAX BILL ON YOUR 401 K OR RRSP FROM COMMIE BOLD BAT
This is not a joke - the delusional, greedy , desperate Bold Bats are deadly serious.
Their only concern is how a disfuncional GOM
which is not able to collect simple VAT or business tax
will find the resources and manpower to track millions
of equity transactions and calculate their randsom due
( in their sick mind ) to them
geeeesus
END STAGE OF BRAIN CANCER THEY ARE
They are as far from civilized society as the medieval Mongolian Hordes
which destroyed numerous civilizations like the HUNS and Vandals before them
(Mezopotamia , Syria , Armenia , Persia , Byzantium , Easten EU up to Germany )
In christian world they added one verse to the prayer :
``save us God fom 4 horseman of Apocalypse and from Mongolian Hordes
For today` s investor this prayer applies like never before .
11 . The best ilustration how this sick system works is M construction industry
see interview with boss of M Builders Association here
https://ubpost.mongolnews.mn/?p=1161
-- first they closed multitude of construction aggregate mines because they were too close to rivers
-- shortage and sky high prices for building materials followed
-- to get building permit takes up to 3 Y and 60 signatures with assiciated 60 bribes
-- so , many people build without permits, like 12 story app buildings 10m from each other LOL
--the apparatchiks outraged they lost so many bribes ordered demolition of 80 projects in a city filled with hundreds of thousands tents - yurts and in need of hundreds of thousands new apps
-- announced the usual GRANDIOSE PLANS of hundreds of thousands
new apps to be handed for free to people and years went by without moving the shovel
The corrupt apparatchiks are like vampire squid wrapped around the neck of M companies and people .
If you;ll try to remove it , the squid will suffocate the patient .
I suspect similar situation with SGQ , OT
IF SGQ , IVN never did or stopped paying the bribes, the apparatchicks retariate
with no permits or even revenge by trying to penalize them
for giving bribes in the past or outright grab like in OT case
Because almost everyone in M does that, they can selecively
pick up ANY PERSON ANY CO they chose .
NO INDIVIDUAL , NO CO. IS SAFE from this double standard
honned to perfection during Soviet era .
=======================à
Conclusion : GET OUT SGQ FROM THIS COMMIE POST SOVIET WASTELAND NOW !!!!
SALVAGE . liquidate THE $2.8- 3.5 $ PER SHARE BEFORE THE VAMPIRE SQUID
WILL SQUEEZE YOU DRY
and sue them for $ billions from safe distance .
For TRQ, RIO it is too late to salvage even part of the $$ billions at risk
They have to fight to the end .
.