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Author Topic: Border wall billions for Trump?  (Read 2571 times)

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Firestarter

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Wilbur Ross - ArcelorMittal
« on: March 05, 2020, 10:41:20 am »
It would be obvious that if Donald is the first steel president in a long, long time that his February visit to India was all about steel?!?
India is the world's third-largest steelmaker, but its steel exports have fallen with 46%, according to the Peterson Institute.

US President Donald Trump accompanied by amongst other Commerce Secretary Wilbur Ross was expected to meet a group of Indian CEOs, including Sunil Bharti Mittal (Chairman of Bharti Airtel), N. Chandrasekaran (Chairman of Tata Sons and Baba Kalyani), and Lakshmi N. Mittal (Chairman of ArcelorMittal, and business partner of Wilbur Ross): https://www.businesstoday.in/current/economy-politics/trump-in-india-potus-to-meet-india-inc-ceos-on-tuesday/story/396781.html


Who could have guessed that Donald Trump’s handler, long-time Rothschild banker, and Donald’s Commerce Secretary Wilbur Ross was also a steel magnate, who with his (former) business partners profit from Donald’s steel tariffs (designed by Wilbur himself!)?!?

On 1 March 2017, Wilbur Ross resigned from the board of directors of the largest steel manufacturer in the world, ArcelorMittal. With factories in the USA and Brazil (also exempted from Trump’s steel tariffs) to profit from the steel tariffs.
Ross held $750,000 to $1.5 million in ArcelorMittal and, while he promised to divest his stake, he didn’t say how fast.

Wilbur Ross reported that he was on ArcelorMittal’s board since 2008, and that he earned about $107,000 in “director fees” in 2016.
According to ArcelorMittal’s SEC filing, Ross was a director since 2005 and earned $171,000 in 2016 and $180,000 in 2015.

The biggest stake in ArcelorMittal (Luxembourg-based) is held by its chairman and CEO, the Indian Lakshmi Mittal (living in the UK, where else?!).
Mittal has also been a board member of Goldman Sachs since 2008.

From 2013 to 2015, ArcelorMittal has lobbied for more than $3.5 million to get the Keystone XL pipeline approved.
ArcelorMittal has sold huge amounts of steel for the Keystone XL pipeline. Most of it sold to Welspun Tubular in Arkansas from its plant in Bremen (Germany).

In the early 2000s, Ross bought up distressed American steel firms, and merged them under the name International Steel Group (ISG).
In February 2002, ISG purchased LTV Group’s steel division. A couple of weeks later, President George W. Bush suddenly announced new tariffs on imported steel. Ross has later sort of admitted that he knew these tariffs were coming!

In late 2004, Ross sold ISG to Ispat Steel (located in the Netherlands, where else!?), that renamed itself Mittal Steel. Ross and the other investors earned about $2 billion in the deal. Ross was appointed to its board in 2005.
In 1995, Lakshmi Mittal had bought Ispat Steel for 1 GBP and then bankrupted it, so he wouldn’t have to pay its debts.

In 2006, Mittal (already the world’s largest steel company) merged with Luxembourg’s Arcelor (the second-largest steel company in the world) into ArcelorMittal – still the world’s largest steelmaker producing 10% of the world’s steel: http://archive.is/aIFeb


White House spokesperson Lindsay Walters said: “Secretary Ross is leading the administration’s approach on steel”.

In 2002, Wilbur Ross and his investing partners bought up US steel companies in financial trouble, including LTV Corp., Weirton, and Bethlehem Steel.
When Mittal bought Wilbur & Co’s ISG, Forbes listed Mittal as the third richest billionaire in the world.

Ross made a 12-fold gain on his initial investment, his profits boosted by not paying steel workers’ pensions nor cleaning up the pollution caused by the steel factories, which would cost hundreds of millions of dollars.
The bankruptcy court allowed ISG to acquire the steel assets without paying to clean up the pollution left at the sites. The US government demanded $162 million from Bethlehem Steel to clean 9 of its Superfund sites, but the bankrupted company negotiated a deal that was worth “three-tenths of a cent on the dollar”.

After ISG sold it to Mittal, Sparrows Point was in turn sold in 2008 to Russia’s largest steel company, Severstal, run by Alexei Mordashov (who has been reported as Russia’s richest man and present at the 2011 Bilderberg meeting).
In 2011, Mordashov sold Sparrows Point to the American Renco Group, whose founder and chair is none other than ultra-Zionist Ira Rennert: https://theintercept.com/2018/03/05/steel-tariffs-wilbur-ross-pollution/
(http://archive.is/uoKDJ)


I had earlier posted about Rennert here: https://www.lawfulpath.com/forum/viewtopic.php?f=27&t=1398&p=5488&#p5488

I had earlier posted on Rothschild business partner, Prince Charles’ “acquaintance”, ArcelorMittal CEO Lakshmi Mittal here: https://www.lawfulpath.com/forum/viewtopic.php?f=7&t=1359&p=4935

 

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