"Ignoramus8648" wrote in message
...
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


I would think the speculators are smart enough to see that kind scam
comming.
Something else going on here. What would happen if Goldman decided to get
out of the moving/storage bussines? Panic selling? Goldman has bets that
prices
will drop like gold did? Many lawsuits would result, thats what forced bunky
to file for BK.

Best Regards
Tom.