Economic Terrorism !

Greens activist Jonathon Moylan issued a bogus press release purporting to be from the ANZ bank announcing that the bank had withdrawn a $ 1.2 billion financing offer for Whitehaven coal.   This news flashed through financial markets and resulted in $ 300 million being wiped off the Whitehaven share price.

Issuing a bogus statement under the name of a company which has not authorised the content is a criminal act  that can incur both a heavy fine and a gaol term.   Moylan is gloating about the financial loss he caused and there is the expectation that criminal prosecution will follow.

What is amazing is the attitude of the political party to whose policies he adheres.   Greens leader Christine Milne  cites his action as part of " the long and proud history of civil disobedience ".   Lee Rhiannon offers her " congratulations " while Sarah Hanson-Young is more circumspect - and comments that she would " not encourage " similar action.

Both Moylan and the Greens seem to think that they have " punished " Whitehaven coal.  Nothing could be further from the truth.  The share price quickly recovered once the bogus claim was unmasked. The loss has been borne mainly by institutionalised investors - and that means by the many superannuation managers who try and accumulate funds by investing in mining development.

The sad truth is that the Greens now openly support the use of " economic terrorism " to gain their ends.  Some people may wonder where to draw the line between criminal acts that cause monetary loss on the stock exchange - and the action of terrorists in Mali who kidnap foreign workers and hold them hostage under threat of death to demand governments bend to their will.

The Greens virtually came to life on the back of the Franklin dam issue in Tasmania.    They had a charismatic leader in Bob Brown and had an image as " tree huggers " who were trying to save the forests and the rivers.   Many people gave them their vote - and have not bothered to closely examine their manifesto of promises since making that voting change.

Those that have taken the trouble to look deeper consider the Greens extremists, and a popular phrase describes them as " Watermelons " -  "Green" on the outside - and " red " in the centre.

The Green vote waxes and wanes.  It has been decreasing since Bob Brown announced his retirement and this foray into economic terrorism will cause some supporters to think long and hard about what the Greens really stand for - and what methods they condone to achieve their outcome.

They certainly nailed their colours to the mast when they congratulated  Jonathon Moylan for breaking the law and causing loss to ordinary citizens by a criminal act.    Many who have voted Green in the past considered them a harmless bunch of conservationists.

Now is the time for a reality check because this bunch of extremists is in coalition - and forms part of the government of Australia.