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TOPIC: Goldman Sachs - Yet More Market Manipulation and Rigging

Goldman Sachs - Yet More Market Manipulation and Rigging 23 Jul 2013 00:47 #1

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www.ibtimes.com/goldman-sachs-gs-reporte...-bottlenecks-1355899
Late last year the Securities and Exchange Commission approved a plan that will allow JPMorgan Chase & Co. (NYSE:JPM), Goldman Sachs Group Inc (NYSE:GS) and BlackRock, Inc (NYSE:BLK) to buy as much as 80 percent of the copper available on the market. Many saw this as a dangerous precedent that would artificially inflate copper prices and leave the power of the copper market in the hands of only a few.

It appears that Goldman Sachs is attempting a similar move with aluminum, the price of which has almost doubled since 2010. Goldman owns 27 warehouses in Detroit that store around 1.5 million tons of aluminum that is owned by customers. The problem, those customers say, is the 16-month waiting time to have their aluminum shipped to processing plants that make anything from cans to car parts.

Goldman Sachs makes money from this venture as it lengthens the amount of time that the owners of the metal have to keep it in storage, resulting in increased rental revenue. According to a New York Times investigation, Goldman is earning millions in extra rental revenue as it forces up aluminum prices.
The New York Times article is here:

www.nytimes.com/2013/07/21/business/a-sh...?pagewanted=all&_r=0
The true measure of a man is not his intelligence or how high he rises in this freak establishment. The true measure of a man is this: how quickly he can respond to the needs of others and how much of himself he can give - Philip K. Dick.
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Goldman Sachs - Yet More Market Manipulation and Rigging 23 Jul 2013 10:04 #2

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They do it with everything basically.
My own opinion on it is that if you won't take delivery then you shouldn't be allowed to trade, simple as.
Thats too much epic common sense for the people who run things ofc..
“Fascists are not human. A snake is more human.” - Hugo Chávez
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Goldman Sachs - Yet More Market Manipulation and Rigging 23 Jul 2013 10:06 #3

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Late last year the Securities and Exchange Commission approved a plan that will allow JPMorgan Chase & Co. (NYSE:JPM), Goldman Sachs Group Inc (NYSE:GS) and BlackRock, Inc (NYSE:BLK) to buy as much as 80 percent of the copper available on the market. Many saw this as a dangerous precedent that would artificially inflate copper prices and leave the power of the copper market in the hands of only a few.

Last time I checked, BlackRock was at or near the top of the list of major institutional shareholders for Goldman Sachs and JPMorgan Chase.

So BlackRock holds significant amounts of JP and GS anyway.
Y11
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Goldman Sachs - Yet More Market Manipulation and Rigging 23 Jul 2013 10:10 #4

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novum wrote:
Late last year the Securities and Exchange Commission approved a plan that will allow JPMorgan Chase & Co. (NYSE:JPM), Goldman Sachs Group Inc (NYSE:GS) and BlackRock, Inc (NYSE:BLK) to buy as much as 80 percent of the copper available on the market. Many saw this as a dangerous precedent that would artificially inflate copper prices and leave the power of the copper market in the hands of only a few.

Last time I checked, BlackRock was at or near the top of the list of major institutional shareholders for Goldman Sachs and JPMorgan Chase.

So BlackRock holds significant amounts of JP and GS anyway.

On behalf of their clients aye, rumoured to be 3.72 trillion dollars at the mo.

'On May 8, 2009, BlackRock was brought in as a dominant player in helping the US government evaluate and price distressed assets. The Federal Reserve and the Treasury subsequently awarded BlackRock a $130 billion contract to manage these distressed assets for them'

From their wiki page btw, lol.

Gov: We have some 'distressed' assets that are worth fuck all, here's 130 billion dollars to 'look after them', ffs lol.
“Fascists are not human. A snake is more human.” - Hugo Chávez
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Goldman Sachs - Yet More Market Manipulation and Rigging 23 Jul 2013 10:24 #5

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andyh wrote:
On behalf of their clients aye, rumoured to be 3.72 trillion dollars at the mo.

'On May 8, 2009, BlackRock was brought in as a dominant player in helping the US government evaluate and price distressed assets. The Federal Reserve and the Treasury subsequently awarded BlackRock a $130 billion contract to manage these distressed assets for them'

From their wiki page btw, lol.

Gov: We have some 'distressed' assets that are worth fuck all, here's 130 billion dollars to 'look after them', ffs lol.
It's a pretty good gig if you can get it, that's for sure. How are those assets doing? I'm afraid they're still a bit upset. Never mind, have another $130 billion dollars.

It's just amusing to me that what I have believed for at least a decade is now completely out in the open, probably on a grander scale that anyone could have imagined, even the New York Times is reporting on it, but there are still people out there who will say it's a conspiracy theory that banks rig markets. Even though we know for a fact that they definitely do. I would love to know what JREF are talking about at the moment - although not enough to log on there - it must be a laugh riot.
The true measure of a man is not his intelligence or how high he rises in this freak establishment. The true measure of a man is this: how quickly he can respond to the needs of others and how much of himself he can give - Philip K. Dick.
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Goldman Sachs - Yet More Market Manipulation and Rigging 23 Jul 2013 11:04 #6

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JREF?
“Fascists are not human. A snake is more human.” - Hugo Chávez
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Goldman Sachs - Yet More Market Manipulation and Rigging 23 Jul 2013 18:52 #7

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andyh wrote:
JREF?
I thought you would know who they are. There's a discussion involving someone from the JREF forum here:
The true measure of a man is not his intelligence or how high he rises in this freak establishment. The true measure of a man is this: how quickly he can respond to the needs of others and how much of himself he can give - Philip K. Dick.
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Goldman Sachs - Yet More Market Manipulation and Rigging 23 Jul 2013 20:38 #8

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James Randi Educational Foundation.

Bit like Penn and Teller who are members of the Cato Institute (Koch, big oil, tobacco industry, Wal-Mart, neo-cons, et. al.)
thank you St Jude for favours granted
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Goldman Sachs - Yet More Market Manipulation and Rigging 23 Jul 2013 20:47 #9

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wake_up_bomb wrote:
andyh wrote:
JREF?
I thought you would know who they are. There's a discussion involving someone from the JREF forum here:



Oh gawd that crowd. :roll:
“Fascists are not human. A snake is more human.” - Hugo Chávez
Last Edit: 23 Jul 2013 20:47 by andyh.
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