oh my, them Brits

[skate]

Copper prices soar to record on Tues

the copper market, where a single trader has reported it owns 80% to 90% of the copper sitting in London Metal Exchange warehouses, equal to about half of the world's exchange-registered copper stockpile and worth about $3 billion.

Single traders also hold 90% of Alum. exchange Stocks., Nickel/50% and zinc /80%.

Commodities regulators in the U.S. are considering restricting the amount of futures contracts any one trader can hold, they have no jurisdiction over physical holdings.

AGAIN the Gov. steps in, maybe...

[sammy the sage]

J.P. Morgan ain't British...and for all intents and purposes...NO LONGER American...they're BANKERS w/no country or religion or morals

[skate]

J.P. Morgan ain't British...and for all intents and purposes...NO LONGER American...they're BANKERS w/no country or religion or morals

:lol:

okey dokey, but they still gets the doughnuts from the Man, Fed.

[Native Texan III]

Rumor is that it is JP Morgan - not exactly a single trader.

http://www.telegraph.co.uk/finance/newsbysector/industry/8180304/JP-Morgan-revealed-as-mystery-trader-that-bought-1bn-worth-of-copper-on-LME.html

US have no jurisdiction over LME.

Despite all the hot air about having to pay proper taxes and be properly regulated, they know where the money making opportunities are real.

US banking giant JP Morgan has said it will acquire the old Canary Wharf headquarters of failed rival Lehman Brothers as its new Europe head office.
A skyscraper that is its planned long-term future home.
"These properties are long-term investments and represent our continued commitment to London as one of the world's most important financial centers"

http://www.bbc.co.uk/news/business-12038483

[skate]

yah good article, i took from it;


"Fundamental supply pressures have also been pushing up the copper market. Rio Tinto, warned last week that next year's copper production would be lower than expectations.
And a strike at an Xstrata mine in Chile, the third largest in the world, has been going on for longer than predicted."


weeeee...


i guess we could say that this has something (banks going East) to do with the new Banking rules set in June?