On 2013-07-20, Howard Beal wrote:

"Ed Huntress" wrote in message
...
On Sat, 20 Jul 2013 17:53:08 -0500, Ignoramus8648
wrote:


snip

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.

One more thing: The bottom line on all of this is that it has cost us
consumers over $5 billion over the past three years.


Bunky Hunt redux with different metals.

Think they will get a bailout when it blows up?

Goldman does not own that aluminum. Goldman only invented a way to
rip-off LME futures speculators, who "own" aluminum, but pay Goldman to
store it.

i

Will Bernanke buy up those troubled assets?

Best Regards
Tom.