Goldman's Alleged Aluminum Scam: Why I Hate the Square Mile

Goldman's Alleged Aluminum Scam - Business Insider

This sick story has to do with the London Metals Exchange, a UK Square Mile beast, failing to regulate the requirement that a certain amount of commodities be transfered out of storage where it is hoarded, onto the market.

The Exchange has looked the other way while these hoarders transfer from one warehouse to another, forcing prices up in these commodities. This is just sick behavior on the part of the bankers, ie. banksters.

 
With regard to economic policy in relation to speculation, it isn't that Keynes couldn't work. It is just that there is so much hoarding of commodities that Keynes has no chance in our deregulated speculative markets. And even the US Fed acknowledges this when they want to stop the TBTF banks from physically hoarding commodities.

Now, that won't be enough, because there is a hoarding of contracts as well. That will have to be tackled by the Fed if it is shown that the physical hoarding halt is not enough.

In a world without hoarding by the uber rich, Keynesianism could work in moderation. But until that all changes, it won't work. Time to stop the hoarding!

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