Subj : Metal Scam that makes Nigerian scam seem tame.
To   : ALL
From : BOB KLAHN
Date : Tue Jul 23 2013 21:00:24


  It sure looks like Goldman-Sachs and other Wall Street Firms are
 engaging in fraud, and other possibly criminal activities. And
 we are paying for it.

 Read the full article at:

 http://www.snipurl.com/metaldeal

 Foreign agency making the rules under which US investment banks
 make billions of unearned profits, by holding other people's
 property and making them pay when they do.

 **************************************************************************
 July 20, 2013

  A Shuffle of Aluminum, but to Banks, Pure Gold

            By DAVID KOCIENIEWSKI

 MOUNT CLEMENS, Mich.  -  Hundreds of millions of times a day,
 thirsty Americans open a can of soda, beer or juice. And every
 time they do it, they pay a fraction of a penny more because of
 a shrewd maneuver by Goldman Sachs and other financial players
 that ultimately costs consumers billions of dollars.

 The story of how this works begins in 27 industrial warehouses
 in the Detroit area where a Goldman subsidiary stores
 customers' aluminum. Each day, a fleet of trucks shuffles
 1,500-pound bars of the metal among the warehouses. Two or three
 ...

 This industrial dance has been choreographed by Goldman to
 exploit pricing regulations set up by an overseas commodities
 exchange, an investigation by The New York Times has found. The
 ...
 increases prices paid by manufacturers and consumers across the
 country.
 **************************************************************************

 Notice something here? An overseas agency is making regulations
 that increase prices in the US. That agency gets paid by the US
 companies that make more money.

 **************************************************************************
 ...
 The inflated aluminum pricing is just one way that Wall Street
 ...
 The maneuvering in markets for oil, wheat, cotton, coffee and
 more have brought billions in profits to investment banks like
 Goldman, JPMorgan Chase and Morgan Stanley, while forcing
 consumers to pay more every time they fill up a gas tank, flick
 on a light switch, open a beer or buy a cellphone. In the last
 year, federal authorities have accused three banks, including
 JPMorgan, of rigging electricity prices, and last week JPMorgan
 was trying to reach a settlement that could cost it $500
 million.
 ...
 **************************************************************************

 Companies that never produce one penny's worth of actual
 material profit by manipulating the markets for those
 materials. Years ago it was said speculators are responsible for
 the swings, and ever increasing price of oil. Seems that was
 true all along.

 **************************************************************************
 In the case of aluminum, Goldman bought Metro International
 Trade Services one of the country's biggest storers of the
 metal. More than a quarter of the supply of aluminum available
 on the market is kept in the company's Detroit-area warehouses
 **************************************************************************

 Why does that sound like cornering the market?

 **************************************************************************
 Before Goldman bought Metro International three years ago,
 warehouse customers used to wait an average of six weeks for
 their purchases to be located, retrieved by forklift and
 delivered to factories. But now that Goldman owns the company,
 the wait has grown more than 20-fold - to more than 16 months,
 according to industry records.
 **************************************************************************

 How does that not constitute theft of the metal? Even if it's
 later returned, holding it against the wishes of the owners is
 theft.

 How does this not make Goldman-Sachs and the othes, criminal
 enterprises, prosecutable under RICO?

 Now, continue this on. Not only do they make a profit by keeping
 the material in the warehouses, but they also delay delivery of
 necessary materials. That has to reduce the activity of those
 who need those materials, thus prolonging the recession.

 The next president needs to set out to put all those involved in
 criminal enterprise in the financial sector in prison.

 Oh, and JP Morgan is attempting to set up a group to buy up 80%
 of the copper on the market, to back copper investment funds.
 Since when is owning 80% of anything not cornering the market?


BOB KLAHN bob.klahn@sev.org   http://home.toltbbs.com/bobklahn

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