On 2013-07-20, Ed Huntress wrote:
So, Golden Sacks is driving aluminum from one warehouse to another,
and then back again, to drive up prices for "warehousing" it.

Meantime, JPMorgan bought up more than half of the copper warehoused
for the US market, planning to do the same thing.

As EA says, it's time to bend over:

http://www.nytimes.com/2013/07/21/bu...anted=all&_r=0


I read the article with great attention and, while it is intelligently
written, I do not "get it". I do not see why an industrial consumer of
aluminum needs to buy it from those warehouses. They can go straight
to any aluminum producer or wholesalers.

My best understanding of the story is that the storage costs are
imposed on commodity speculators who own metal and use it as
collateral, but do not hold it themselves. My heart does not really
hurt for them.

i