Posted on 04/03/2020 7:35:45 AM PDT by Oldeconomybuyer
PARIS/BERLIN - The global scramble to secure face masks to shield frontline workers from the coronavirus has turned the marketplace into the “Wild West”, with the United States often ready to outbid buyers who have already signed deals, European officials say.
In France and Germany, senior officials said the United States was paying far above the market price for masks from number one producer China, on occasion winning contracts through higher bids even after European buyers believed a deal was done.
“Money is irrelevant. They pay any price because they are desperate,” one high-level official in German Chancellor Angela Merkel’s ruling CDU/CSU group told Reuters.
A German government source said: “Americans are on the move, carrying a lot of money.”
“We found supplies a few days ago but failed to buy them after others outbid us,” Pecresse told Franceinfo radio on Friday. “They were prepared to pay three times the market price.”
The French Foreign Ministry said it was verifying the reports. But one official doubted that action would be taken.
“It boils down to market forces,” the official said. “The one who pays the most gets the prize.”
(Excerpt) Read more at reuters.com ...
“It boils down to market forces,” the official said. “The one who pays the most gets the prize.”
Black market forces.
Too late now, but there’s plenty of empty textile factories in MA, that could easily meet demand.
2:07 video:
.@3M SELLING MASKS FOR CASH TO OTHER COUNTRIES INSTEAD OF AMERICA 1ST
🤬🤬🤬🤬🤬🤬🤬🤬🤬
Watch and be pi**ed@realDonaldTrump
pic.twitter.com/oJp9ZczhfR— 🇺🇸🇺🇸 Miguelifornia 🇺🇸🇺🇸 (@michaelbeatty3) April 3, 2020
hat tip to little jeremiah!
I think 3M has a Chinese factory where they make 70% of their masks and China told them not to export them.
THIS is the problem with having important items made in China, we can keep hairdryer and toaster operations in China, but anything medical or important to the national defense MUST be manufactured in the U.S.
This single move could revive our economy.
Conveniently overlooking the fact that the Chicoms raped the global market for masks in January and February.
Wonder when the Reuters/CCP will get around to writing about that...
There is a video floating around showing a group of men from the subcontinent sewing N95 masks.
The absolute lack of sanitation is shocking.
Anyone have the link?
They sold the 3M masks to China and China is selling them back to us at 3x the price.
No. Forget the chinks. Bring it all back home.
The only people outbidding anyone are foreign gives
Glad I don’t have any 3M stocks it’s not going to end up well they will have a hell of a price to pay.
Tucker Carlson covered this story Yesterday-
Was Talking to an official from Florida :
1. Florida had to PRE pay for their mask order!
2. they Ordered almost a month ago !
3. Masks were NOT delivered- !
4. Other countries who pay a PREMIUM!- get delivered first!
5. they still have NO IDEA when their masks will arrive!
pretty shocking if true-
3M has a big domestic capability and is cranking out the N95 masks. The problem with 3M is that they only sell through "authorized distributors" and those distributors are selling them overseas for top dollar. 3M corporate said they don't control their distributors so Trump threw the DPA at them. Now 3M has to deliver to where the Feds say, bypassing the distributors.
As for the original article (which I read), I suspect domestic distributors are sending masks to overseas distributors who then will sell back to desperate US entities.
Make your own- better than nothing. My wife is real handy!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.