Posted on 04/20/2016 1:19:32 AM PDT by Berlin_Freeper
...To inspect the full sweep of properties on the block by air would take about a week.
(Excerpt) Read more at money.cnn.com ...
Property that large I doubt if it has been fully explored for its mineral wealth.
Fools. I don’t think any country should allow foreigners to own real estate.
They can’t move the real estate. and they will probably have to sell it for taxes anyway
It makes you wonder how someone could amass so much land. Must of had it in the family for generations.
“It makes you wonder how someone could amass so much land. Must of had it in the family for generations.”
I think I can answer that question. According to a European History professor I had a class with many years ago
In Britain, unlike France, Spain and Germany the oldest son of a minor noble inherited the entire estate upon the father’s death. The second son would have a commission in the Army or Navy the third would be trained for the clergy. A fourth son would be given a cash settlement.
That cash settlement would provide a rather frugal upper class life at times even requiring the 4th son to live in the family estate as sort or a care taker or administrator. But some of those guys evidently went to the US or Australia where land was very cheap and bought huge estates. The XLT Ranch in Texas was, I think one of these at first. So I imagine that some 4th son of minor British nobility bought the place for one pence an acre or something. These 4th sons would end up with larger estates than the heir to the barony.
I could be wrong about this but it is what I was told
It is the Chinese pulling the strings.
It is also the Chinese pulling the strings in Oregon and Utah where the BLM (NOT Black lives Matter) are stealing the land and killing white ranchers over land. Harry Reid and his son are waste deep in murdering and arresting these WHITE ranchers and murdering them for the Chinese benefit to have mineral rights to the land
Land in some places has been historically very inexpensive. Still, amassing that much and maintaining it was an accomplishment.
“’Even if they create rules, it doesn’t really matter’
Spoken like the politician that he is. “
There’s still a few big spreads here in the U.S. Three come to mind off the top of my head; King Ranch, Matador Ranch, 6666 Ranch. However, none are as big as they were at their peak that’s for sure. Few are wealthy enough to let land sit idle now days. Land has to be put to work or the taxman will get it...
Just about the right size for a secret military base.
Yup, just jack the taxes up and get the land back.
I’d hate to be the person responsible for cutting the grass on that piece of property......
“Just about the right size for a secret military base.”
Well, China has long had an aspiring eye on Australia. They see “all that land but so few people”. A country almost as large as the U.S. lower 48 with a population of about 24m, slightly less than Texas’ 27m. However, the Aussies are well aware of China’s aspirations. And, thereby has had since WWII a very strong relationship with the U.S. It’s also developing both military and economic ties with Inda who also is wary of China’s aggressive posturing in the western Pacific of late. So, I think Australia has their eye on the ball. And has no illusions concerning China. It’s the U.S. who has it’s head up its arse as the Aussies would say....
What is the deal with China? A Chinese investor bought some land down the road from us for over double market value. I know if they invest 500,000 in US, supposedly economically disadvantaged location,they get a Visa to travel here freely. But some of the property I’ve learned is in North Dallas. A family member recently traveled the Shanghai and the wealth is apparent via luxury cars, lifestyles, etc. Is it real or a mirage?
Quigley is not happy.
.....
I could be wrong about this but it is what I was told
It did happen as you describe sometime, Fai Mao, but in the case of this massive spread, it's quite different.
The land in question has been in the same family for five generations, and they are a very rich family, but they didn't start out that way. The dynasty was founded by Sidney Kidman - he's often described as a 'penniless runaway' and that's true - he ran away from home to seek his fortune at 13 - but he did come from a solidly middle class background. He worked in various jobs on farms and used what money he earned to start working as a general trader. When he was 21, he inherited a decent amount of money from his father's and grandfather's estates (not a fortune but in modern terms close to $100,000) and with that he was able to become a horse and cattle trader. He traded his horses for a 10% share of the Broken Hill Proprietary mine - which turned out to be the core of what is now the world's largest mining company (BHP Billiton). He came out of that deal a rich man and started buying land.
He bought very large cattle stations in what is basically the middle of the desert. You can run cattle on those stations only by moving them from waterhole to waterhole. He decided he wanted to be able to easily move his cattle between some stations so also brought up land between the stations that was marginal for farming but did have enough water to move cattle through it to the better farm lands. It also meant he could fatten up the cattle on his best and wettest land in the northern part of the country and then drive them south to where the large markets were keeping them in good condition the whole way. At his peak he owned about 3% of the entire Australian continent. The families holdings that are being sold now aren't quite that big, but still are vast by normal standards.
They are selling because the current generation of heirs want to diversify into other areas and - frankly - enjoy some of the money. I know a couple of them. Being worth $5 million on paper, but only having access to $200,000 because it's all tied up in land is frustrating. They don't really want to sell to a Chinese buyer, but nobody else is interested in paying a fair price and they have been trying to find a buyer for years now. And while it is a lot of land, except for Anna Creek, which has been excised from the sale, there really isn't any security concerns or anything that I can see.
Are mineral rights normally included with land sales in Australia?
I’m aware. Which is why I think it is foolish to allow foreigners to own real estate. Or lease it for that matter. Nor should foreign companies be allowed to control ports, railroads, highways, etc. Nor should they be allowed to own a controlling interest in US companies.
No. Generally speaking rights to minerals are not conveyed as part of freehold title, so a landowner only own what is on or above the surface. Precise details differ from state to state.
The government sells exploration licences and mining licences separately. They convey the right to explore or mine a particular piece of land for a particular period of time.
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