I thought this stunk sooo much.. I had to post it here…

If I go into the bank in Australia.. and lets say I’m lucky enough to be able to withdraw.. lets say.. $5000 in cash.. The bank gets all nosy and wants to know what the money is for. Is it for a car?? Is it for a boat? They can get Quite insistant.. (I’m not that paranoid.. I dont think…)

The higher the amount that you withdraw in cash.. The more insistant they become to know where the money is going..

Fair enough you say? Ok then..

Quote “ONLY a tiny handful of water bureaucrats in each state has full knowledge of who owns the country’s permanent water rights, as water registries cannot be openly searched. Some foreign acquisitions of water that have emerged include:

Summit Global Management, founded by John Dickerson, of San Diego, owns $20 million worth of water through its Australian subsidiary Summit Water Holdings. The company wants to buy more.

The Singapore company Olam International acquired nearly 90,000 megalitres of permanent water along the Murray when it picked up the almond operations of the failed managed investment scheme Timbercorp last year. The land and water were valued at $288 million.

The British investment fund Ecofin owns 20 per cent of Eastern Australia Irrigation, a company with extensive land and water holdings in south-eastern Queensland.

Tandou Limited owns Tandou Farm, near Menindee Lakes, in far western NSW. A fierce takeover battle this year has left the company dominated by the New Zealand corporate raider Sir Ron Brierley’s Guinness Peat Group (28 per cent), battling it out with Ecofin (19.9 per cent) and the US company Water Asset Management ( 13 per cent). Tandou’s most valuable asset is $30 million worth of water rights.

A Japanese consortium led by Mitsubishi Corporation acquired the Australian water businesses of the British company United Utilities in May.

Causeway Asset Management, of Melbourne, wants to attract $100 million from foreign investors to a diversified portfolio of permanent water entitlements in Australia.”

And here is the big one right here….

Quote “The federal Treasury says it never looks specifically at foreign acquisition of water licences, and takes an interest only if a foreign player is buying an agribusiness worth more than $231 million.”

See: http://www.brisbanetimes.com.au/environment/water-issues/thirsty-foreigners-soak-up-scarce-water-rights-20100903-14uev.html














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