Adanac Molybdenum Corporation AUAYF

RE: POSCO/MT

[cliffh]

No chance Stocky 3. This subprime stuff is winding up not down. According to numerous people, we are looking at a one to three trillion dollar mess ahead of us. OK take away the 200 billion we have already witnessed which is only half of what Goldman Sacks put out and we have a long ways to go. If the banks in Canada didn't buy too heavily into this derivatives mess, and I hope they did not, then you and all of us will get our wish and money will possibly loosen up and AUA will be able to borrow. Stocky, not sure where you live, but all this good will crap you are reading in the paper about our Fed being so concerned about the homeowners who purchased their homes using ARM mortgages ARE NOT BEING HELPED like you would think. It is pathetic in one way, and in another way those who bought the homes and have never made a payment don't deserve help. As I understand the situation, many bought the homes never planning on keeping them anyway, this was just a chance for them to live high on the hog momentarily in their life. It was our gov't fault for opening up lending to these people in the first place, but as usual the tax payers will be forced to carry the burden. The real kicker to this Bear Sterns debacle is that you read that the Feds and JP Morgan are going to bail out Bear Sterns. The truth is that the FED IS NOT FEDERAL no more that Federal Express is. Second point is that it is a corporation and JP Morgan is the largest owner of stock in the Federal Reserve. This is a THEFT SALE whereby the two in conjunction with one another are buying close to 32 Billion Dollars in assets for 1.9 Billion Dollars. Nice work if you can get it. The US Federal government has not spent one dime on anything that will help this subprime mess. Quite frankly the US GOV'T doesn't have any idea what is going on. Thus no fix in sight. This is the real skinny ladies and gentlemen, oh how I wish it were not true. We will eventually get our day in the sun, just don't know when. I just pray that the banks in Canada will start lending money soon so that China doesn't wind up owning all the natural resources in Canada. Hope the Canadian government wakes up SOON.