Tuesday, June 5, 2012

JP Morgan and others are asking for SEC approval for an ETF that Would Stockpile Real, Physical Copper.

Yes, you heard that right. Why, sometimes Control Frauds think two mutually exclusive things before lunch! Such as unleashing outright fraud and preserving Glass-Steagall.

"Actual industrial users are freaked out about this because it could essentially be a license to corner and manipulate the market." Marcus Stanley

Surely no one in Swamp Webegoners could have predicted that?  Or suspect such a plan to be co-hatched by NeoCons & Wall St - where the two camps are breeding women that are always right, men who are even more strongly right of center, and citizens who always eat their Bernays sauce.

Backlash?  What blowback?  They've all gone fishin', still intent on Creelin' 'em in.

Not to worry.  MF Global proves that it won't be so easy for banksters and/or politicians to manipulate commodity exchange markets.


Anonymous said...

Just when I thought the commodity market was "definancializing"...

Tom Hickey said...

Wait until water is no longer a free good and water sources are all privatized. Then water will become asset class. Far-fetched? Not really. It's already in the works.

FJV said...

Maybe a stupid question, but wouldn't American banks driving up the price of essential strategic resources piss off foreign nations?

I cannot see China being too thrilled about price increases in copper due to speculation of US banks.

Wouldn't this have effects beyond just the financial stuff?