How Goldman Made $5 Billion

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How Goldman Made $5 Billion By Manipulating Aluminum Inventories (and Copper is Up Next).
This article highlights the manipulation in the commodities market even more strongly than the original NY Times story. It is still not strong enough. The prices you pay for every commodity from gas to copper are juiced and leveraged to make obscene profits for financial firms, while you pay the economic rent for it. When traders finally dump the commodities, there is a crash, as in 2008 when gas tumbled from $147/barrel to $35/barrel, in 7 months. No supply/demand analysis can account for that. It is manipulation.

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At www.nakedcapitalism.com

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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a former blogger for Huffington Post, Daily Kos, and Global Economic Intersection.

His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/

Scott is a former and current President of Common Ground-NY (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of (more...)