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As piles of base metals from aluminium to nickel build up due to poor demand, Goldman Sachs and JPMorgan have entered the little known but very profitable business of metal warehousing. The deals reflect banks’... Read More
Last week, CFTC Chairman Gary Gensler and European Commissioner Michel Barnier issued a joint statement on the Financial Reform Agenda. They reiterated the need for strong international cooperation. “Risk knows no... Read More
Aluminium used to be something that made aeroplanes and drinks cans. Now it is a financial instrument. Between 75 and 90 per cent of the world’s physical aluminium stocks are tied up in financial arbitrage deals... Read More
Economist magazine which is the bastion of free markets / efficient markets / Ayn Rand / deregulation / etc has an opinion piece out where they point out that (1) derivatives should clear through an exchange and (2) end-... Read More