Commodities

We Just Witnessed The Worst Week For Global Financial Markets In 3 Years

Theeconomiccollapseblog Is this the start of the next major financial crisis?  The nightmarish collapse of the price of oil is creating panic in financial markets all over the ; On June 16th, oil was trading at a price of $; Since then, it has fallen by almost 50 dollars in…
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Commodities

Dropping Prices, Supply Glut Sends Oil Into Storage At Sea

By Nick Cunningham, There is so much surplus oil sloshing around right now, some of it is being stored on tankers at sea. In the United States, a lack of infrastructure, the ban on exports, and a surge in production, coupled with tepid demand, has caused a glut, and prices declined by…
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Commodities

CME, Reuters Picked To Replace Silver Fixing In Process Supervised By Former Gold Fixer

Zero Hedge A few days ago we reported that the World Gold Council was actively preparing to announce the replacement to the existing gold/silver fix, a system that had allowed the rigging of precious metals for 117 years. Confirming that said rigging would only continue was our report that the…
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Commodities

Energy Markets Are On The Brink Of Crisis

Brandon Smith The multitudes of people, especially Americans, who view government activity in a negative light often make the mistake of attributing all corruption to some covert battle for global oil fields. In fact, the average leftist seems to believe that everything the establishment does somehow revolves around oil. This…
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Bronze Swan Lands: Goldman Explains How The China Commodity Unwind Will Happen

Zero Hedge Over a year ago we were the first to bring the topic of China's shadow banking system's problematic rehypothecation issues to the general trading public. In "The Bronze Swan Arrives: Is The End Of Copper Financing China's "Lehman Event"?" we explained how the Chinese commodity financing deals (CCFDs)…
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One Ton Gold Shipment Into Hong Kong Revealed To Contain Just Worthless Metal

Zero Hedge Two years ago, stories of fake tungsten-filled gold coins and bars began to spread; it appears, between the shortage of physical gold (after Asian central bank buying) and the increase in smuggling (courtesy of India's controls among others) that gold fraud is back on the rise. As SCMP…
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Cold War

Guess Which Precious Metal Is Controlled By The Russians

Tim Staermose Palladium is like the Rodney Dangerfield of precious metals. It never gets any respect. If you ask someone about precious metals, in fact, just about everyone has heard of gold and silver. And occasionally platinum. But palladium is one of those obscure precious metals that few people think…
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Commodities

Copper Limit Down In Shanghai; Falls To Lowest Since July 2009

Zero Hedge Following a triumvirate of macro misses from AsiaPac (South Korea unemployment surged, Aussie confidence plunged, and Japanese inflation tumbled), the credit concerns running riot through the collateral underlying China's shadow banking system continue to crush Copper (and iron ore) prices. Copper is limit down in Shanghai at its…
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Commodities

Celebrating China’s First Bond Default: Copper Limit Down, Yuan Crashes Most In Six Years

Zero Hedge It would appear the fecal matter is starting to come into contact with the rotating object in China. Worrying headlines are beginning to mount on the back of real economic events (an actual default and a collapse in exports): *COPPER IN SHANGHAI FALLS BY 5% DAILY LIMIT TO…
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Butterball reports shortage of fresh turkeys this Thanksgiving

It's nothing to gobble about - just as Thanksgiving nears, Butterball is reporting a shortage of fresh turkeys. One of the largest producers of turkeys in the nation has told retailers it is cutting allotments of fresh turkeys that are 16 pounds and larger. The good news is supermarkets in…
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Chicago Mercantile Exchange Confirms It Was Hacked in July

Zero Hedge The Chicago Mercantile Exchange admits that in July it was hacked: *CME HAD CYBER INTRUSION IN JULY, SOME CUSTOMER INFO COMPROMISED *CME: SOME CUSTOMER INFO ON CME CLEARPORT PLATFORM COMPROMISED *CME GROUP NO EVIDENCE TRADES ON CME GLOBEX ADVERSELY IMPACTED Algos # 0001 through #9999 now have their…
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What You Need to Know about the Latest Oil Trading Scandal

OilPrice By Dan Dicker It’s been a busy year for the regulators and legal groups of major banks and hedge funds, as the recent fines of JP Morgan, Steve Cohen, and others have appeared with increasing frequency. The Feds might have been slow to anger, but are finally showing some…
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Fed Said to Review Commodities at Goldman, Morgan Stanley

Bloomberg by Cheyenne Hopkins & Michael J. Moore The Federal Reserve has expanded its scrutiny of banks’ physical commodities operations to encompass businesses run by Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS) that Congress had previously authorized. The Fed is examining all legal and regulatory exemptions that allow…
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18 Signs That Global Financial Markets Are Entering A Horrifying Death Spiral

The Economic Collapse by Michael Snyder You can see it coming, can't you?  The yield on 10 year Treasuries is skyrocketing, the S&P 500 has been down for 9 of the last 11 trading days and troubling economic news is pouring in from all over the ; The much anticipated…
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Next Stop, Vladivostok: Russia Bets Big On Trans-Siberian Railway

ZeroHedge by Tyler Durden Warren Buffett's recent investments in something as mundane as rail appear to have found big fans in an unexpected place: the Kremlin. As Stratfor reports, none other than Russia is betting big on the key rail link connecting continental Europe with the Pacific: the Trans-Siberian railway.…
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Bonds, Stocks, Dollar Pounded In First Dow Jones Three-Day Losing Streak Since 2012

Zero Hedge It was bound to happen: after the Tuesday "winning" streak was lost 8 days ago on the 21st unlucky week, it was the turn of the "BTFD mentality" that had prevented a 3-day losing streak in the Dow Jones since December. And while today's selling was still somewhat…
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European Commission Investigates Oil Majors For Oil Price Manipulation

Joao Peixe via After the Libor rigging scandal in 2012, authorities have sharpened their act, deeply scrutinizing company financial records, and implementing stricter regulations. This has led to a new investigation which has led European authorities to raid the offices of Shell, BP, and Statoil, in what is suspected to…
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Wal-Mart: “Families Are Adjusting To A Reduced Paycheck And Increased Gas Prices”

Zero Hedge Moment ago Wal-Mart reported a top-line miss, a bottom line beat, a dividend hike and a rather subdued full year forecast ($$ on Exp. of $), and nobody cared. The only thing that algos and carbon-based lifeforms alike honed in on, was the recap of the most recent…
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Stocks Drop Most In 2013 As Gold Is Crucified On The Death Cross After Federal Reserve Minutes

Zero Hedge A strange sea of red inhabits the screens of many traders and investors across the USA this evening, and all it took was for the FOMC to hint that the punchbowl will have to be taken away at some point in the future. Biggest jump in VIX in…
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Shanghai Gold Exchange Volume Soars To Record As India Gold Imports Surge To 18 Month High

Zero Hedge While the recent move in gold lower, attributed primarily to the fickle rotations of assorted hedge funds who have gotten crushed on their AAPL holdings and thus forced to liquidate profitable positions mostly in ETFs and other paper gold representations (as demand for physical precious metals has never…
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Coffee Fungus Seen Cutting Up to 25% of Central America Output

Bloomberg Coffee farms in Central America may lose 25 percent of exportable production next year because of a crop disease known as leaf rust, providing a “little bit” of a boost to slumping prices, an industry group said. In the 12 months starting Oct. 1, about million bags of exportable…
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Putin Turns Black Gold to Bullion as Russia Outbuys World – 570 tons

Bloomberg When Vladimir Putin says the is endangering the global economy by abusing its dollar monopoly, he’s not just talking. He’s betting on it. Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric…
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“Brace For A Stock Market Accident”, GLG Chief Investment Officer Warns

ZeroHedge by Tyler Durden Authored by Jamil Baz (CIO, GLG), Originally posted at The FT, Brace For A Stock Market Accident Profits and leverage are locked in a deadly embrace There is a time-honoured tradition in statistics: whipping the data until they confess. Bullish and bearish equity analysts are equally…
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High-Yield Bond ETF Outflows Spike To Record

ZeroHedge by Tyler Durden We have been monitoring the shifts in the high-yield bond market for a few weeks, noting that bond ETF and credit derivative markets are showing some serious (divergent from stocks) signs of risk-off. Whether this was driven by call-constraints limiting upside potential, a fundamental realization of…
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U.S. Soy Supply at 48-Year Low as Brazil Ships Held: Commodities

Bloomberg Dry weather and shipping delays in South America are boosting demand for soybeans from the , the world’s largest grower and exporter, and producing the tightest inventories in almost five decades. Stockpiles will shrink to a nine-year low of 130 million bushels on Aug. 31, before the next harvest,…
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Argentina freezes prices to break inflation spiral

My FOX NY BUENOS AIRES, Argentina (AP) — Argentina announced a two-month price freeze on supermarket products Monday in an effort to break spiraling inflation. The price freeze applies to every product in all of the nation's largest supermarkets — a group including Walmart, Carrefour, Coto, Jumbo, Disco and other…
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Profiting off hunger: Wall Street makes big gains over food price spikes

Powerful firms like Goldman Sachs have made hundreds of millions of dollars in food future trades. Critics accuse them of profiting off starvation and market manipulation, while traders claim their profits are due to increasing consumption in China. ­World food prices tracked by the UN Food and Agriculture Organization (FAO)…
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Worldwide Political and Financial Tensions, Spiraling Debt Crisis in America

Global Research by Global Europe Anticipation Bulletin (GEAB N°71) Until now the course of the crisis has been accurately described according to the five phases identified by our team from May 2006 (GEAB n°5) and completed in February 2009 (GEAB n°32): release, acceleration, impact, decanting and global geopolitical dislocation, the…
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2007 Deja Vu As Goldman Sees $150 Oil By The Summer

While Brent closed 2012 at around its average closing price for the year, suggesting some stability, rolling a front-month contract garnered returns over 10% underscoring Jeff Currie's (Goldman's chief commodity strategist) note that money can still be made in a low volatility environment. However, he does note the incredible divergence…
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You Wanted Inflation, You Got It: Japanese Gasoline Price Rises To Eight Month High

When one thinks of open-ended, "inflation targeting" one usually thinks of soaring markets, at least in nominal terms, exploding central bank balance sheet, and happy central planners. What one usually does not think of, is, well, inflation targeting. Because while the shadow banking financial system, perfectly devoid of deposits, has…
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Goldman Sachs And The Big Hedge Funds Are Pushing Leverage To Ridiculous Extremes

The Economic Collapse By Michael As stocks have risen in recent years, the big hedge funds and the "too big to fail" banks have used borrowed money to make absolutely enormous ; But when you use debt to potentially multiply your profits, you also create the possibility that your losses…
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We Are Witnessing The Slow, Tortuous Death Of The American Worker

The American Dream By Michael Once upon a time, the economy produced a seemingly unending supply of good paying jobs that enabled American workers to buy homes, raise families and live the American ; But now all of that has ; Over the past several decades, there have been some…
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Inflation Hits Coffee As Brewers Secretly Swap Robusta For Arabica

Liberty Blitzkrieg Michael Krieger Inflation Hits Coffee As Brewers Secretly Swap Robusta for Arabica This article hit close to home for ; ; It was just over the holiday season that I mentioned to my mom that her coffee doesn’t taste as good as it used ; She insisted that…
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