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(Marketwatch)   The price of copper, for years an indicator of the health of the overall global economy, has collapsed in recent weeks as China's economic shiat is about to hit the fan   (blogs.marketwatch.com) divider line 9
    More: Scary, global economy, foundations, industrial metal, futures contracts, hard landing  
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2772 clicks; posted to Business » on 13 Mar 2014 at 1:16 AM (26 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-03-13 01:44:54 AM
2 votes:

Voiceofreason01: The short SHORT version: the whole thing is built on fear and speculation far more than actual facts.


The short version is that a good portion of the copper in China is used as collateral and sits in warehouses. Now that China's zombie corporations can't kick the can down the road anymore, these financing deals are going to start to evaporate and the copper is going to have to hit the market.
2014-03-13 06:14:56 PM
1 votes:

relaxitsjustme: Incontinent_dog_and_monkey_rodeo: JRoo: What does this mean for my jar of pennies?

Eat the pennies!

Might as well stick them up your ass.


came here for this. never touch pennies. they have been in someones ass. for sure.
2014-03-13 05:10:13 AM
1 votes:

gfid: I remember reading a few stories about large companies hoarding metal (like aluminum and copper) last year.  They captured a huge amount of what was available and were creating artificial shortages which drove up prices and then charged a premium on top of that for delivery within a reasonable time frame.

one example:

http://moneymorning.com/2013/04/22/these-commodities-traders-are-hoa rd ing-copper-for-the-ultimate-profit-play/


Goldamn Sachs and Morgan Stanley were doing this with aluminum in Detroit. They would ship the metal back and forth between a set of warehouses located in Detroit. Cue Detroit joke.

The problem, as described in The Times by David Kocieniewski, is that since the bank entered this business, the time it takes buyers to get the metal from those warehouses has shot up to more than 16 months, from 6 weeks. Goldman has attributed the delays to a shortage of trucks and forklift drivers. But Goldman also pays incentives to owners of the metal to keep it in the bank's warehouses.

http://www.nytimes.com/2013/07/27/opinion/goldman-sachss-aluminum-pi le .html
2014-03-13 02:50:00 AM
1 votes:

Kurmudgeon: Well, this means the tweakers won't be cutting down power lines and electrocuting themselves anymore.


I have no problem at all with idiots who steal power cables being electrocuted.
2014-03-13 02:10:47 AM
1 votes:
I remember reading a few stories about large companies hoarding metal (like aluminum and copper) last year.  They captured a huge amount of what was available and were creating artificial shortages which drove up prices and then charged a premium on top of that for delivery within a reasonable time frame.

one example:

http://moneymorning.com/2013/04/22/these-commodities-traders-are-hoa rd ing-copper-for-the-ultimate-profit-play/
2014-03-13 02:03:33 AM
1 votes:
Well, this means the tweakers won't be cutting down power lines and electrocuting themselves anymore.
That's a good thing, isn't it....
2014-03-12 11:54:59 PM
1 votes:

RanDomino: Who wants to take on my bet that Fox will blame this all on the fact that it's a solar energy company?


And furthermore, Obama
2014-03-12 11:47:40 PM
1 votes:
Who wants to take on my bet that Fox will blame this all on the fact that it's a solar energy company?
2014-03-12 11:23:24 PM
1 votes:
The short SHORT version: the whole thing is built on fear and speculation far more than actual facts.
 
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