Market Currents
U.S. manufacturers are opposing JPMorgan's (JPM) plans to launch an ETF backed by physical...
-
Thursday, May 24, 2012, 5:25 AM ETU.S. manufacturers are opposing JPMorgan's (JPM) plans to launch an ETF backed by physical copper, telling the SEC the fund would "grossly and artificially inflate prices" and "wreak havoc on the US and global economy." JPM's regulatory filings suggest its ETF could hold 61,800 tons, or 27% of the copper held in the London Metal Exchange’s global network of warehouses.
Other date
Latest Commodities Articles
This news story has 8 comments:
On the one hand, it seems likely JPM has lent against copper collateral and expects some of that copper to end up back in its hands and is looking for a way to monetize it.
On the other, it would permanently remove product and production from the market pressuring prices artificially up. End result? JP makes money at the expense of consumers everywhere, slowing down the global economy for no reason other than the fact that its able to take a bit off the top of any copper transaction.
JPMorgan holds substantial positions in most commodity futures markets, everything from bacon to wheat. Basically, Goldman owns the world and JPMorgan owns all that's in it. They can't lose because they control everything including the gubmint(s) and the media.
Both companies are ultimately treasonous in terms of what they have done to the USA, the CEOs and the BODs should be imprisoned for the rest of their lives. Unbelievable how they have positioned themselves, GS runs pretty much every gubmint in the western world.
Wake me up when they roll out the guillotine and start the decapitations of people like Bernanke, Dimon, Blankfein, Moynihan, Summers, Clinton(s), Obama, Bush(s), Rubin, Greenspan and all the rest of them. No trial is required, just pull the apparatus up in their driveway, pull them out of the house in their PJs and cut their F'n head off. Then put it on the end of a pole and stick the pole in the lawn of the Whitehouse for all the world to see - just like the Italians did with Mussolini.