Skip to comments.OBAMA ADMINISTRATIONíS GUINEA MINING DEAL HURTS AMERICAN BUSINESSES
Posted on 07/02/2012 12:02:52 PM PDT by lowbridge
A secret business deal between the government of Guinea and a multinational firm with a U.S. partner aided by the Obama administrations wrongheaded foreign policy could cost American businesses billions. Congress ought to investigate to protect American investors, expose any political shenanigans and prosecute the guilty.
The London Sunday Times first cracked the story June 3 of the secret $25 million loan between an offshore company, Palladino Capital 2, and the cash-strapped West African country. The funds, according to the loan agreement, were to finance the start-up of Guineas state mining company, Heritage, but the cash allegedly disappeared and the terms of the loan include a default clause which gives the lender a juicy 30 percent stake of Guineas mushrooming mining assets.
A thirty percent share is especially significant given Guineas new mining code engineered by advisors billionaire trader George Soros and Palladinos South African owner Walter Hennig. The 2011 code gives 15 percent of all mining assets to Heritage, including another 20 percent at market rates. That means foreign mining operators forfeit billions of dollars in assets and profits atop an 8 percent customs tax.
(Excerpt) Read more at humanevents.com ...
I'm waiting for the day when an an honest journalist reveals how much censorship is occurring in the Obama media.
Do we have any more information on this?
“Congress must ask these tough questions to determine the truth. Clearly, the secret deal could hurt American mining businesses, exposes the administrations wrongheaded foreign policy, and may violate our foreign corruption laws.”
SHEESH! Obama, Clinton same-o, same-o.
It doesn’t matter what Obama does or doesn’t do. It’s primary motive is to destroy American business and defense in any way possible.
Obama takes care of Africa first - it’s the land of his birth.
And if it isn’t, he wishes it was.