Free Republic

China produces the entire world’s supply of samarium, a rare earth metal that the United States and its allies need to rebuild inventories of fighter jets, missiles and other hardware.China’s strict controls on the export of heat-resistant magnets made with rare earth minerals have exposed a major vulnerability in the U.S. military supply chain.Without these magnets, the United States and its allies in Europe will struggle to refill recently depleted inventories of military hardware.For more than a decade, the United States has failed to develop an alternative to China’s supply of a specific kind of rare earth crucial for the...

Chinese price manipulation has taken its toll on the U.S. economy Rare earth metals are an increasingly integral part of everything from automobiles to television sets.  But the precious metals are tightly controlled by China, with an excess of 95 percent of current suplly coming from Chinese-owned mines and refineries.  The degree of control has allowed China to manipulate prices, cutting back on demand to sell less material for the same amount of profit, any businessperson's dream. I. New Private-Public Partnership Sets Aim on Chinese Mineral Hegemony The problem is that it takes several years or more to bring rare...

NOTE The following text is a quote: September 7, 2010 TG-847 Treasury Department Targets Iranian-Owned Bank in Germany Facilitating Iran's Proliferation Activities WASHINGTON – The U.S. Department of the Treasury today designated Europäisch -Iranische Handelsbank (EIH), one of the few remaining European banks actively facilitating business with Iranian banks and handling billions of dollars worth of transactions on their behalf. Today's action was taken pursuant to Executive Order (E.O.) 13382, which blocks the property of designated weapons of mass destruction (WMD) proliferators and their supporters, thereby isolating them from the U.S. financial system. Headquartered in Hamburg, Germany, EIH provides financial...