Bingo. That was my first thought as well.
Paging Wǔ Xíng Copperfield...
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 12/03/2010 2:19:52 PM PST by Sawdring
A single trader has gobbled up to four-fifths of the copper traded in London, stockpiling it in warehouses. The unknown buyer has been building up the dominant position since at least last week, putting a squeeze on the market.
According to the rules of the London Metal Exchange, the trader must lend out copper if it holds between 50pc and 80pc of the total to maintain day-to-day liquidity in the market. The trader is currently lending at a 0.5pc premium to the cash price.
(Excerpt) Read more at telegraph.co.uk ...
Soros? Buffett?
Soros?
China
Nice place to park cash
Sure sounds like them. Makes you wonder what they know.
“stockpiling it in warehouses”
Well, that’s a lot of copper. He couldn’t possibly do this by himself. It would take dozens if not hundreds of people to perform such a feat.
Could it be this guy?
Mr. Cyprium Copperfinger. He’s the man.
” China
Nice place to park cash “
http://www.freerepublic.com/focus/f-news/2636930/posts
China’s gold imports surge fivefold
CNN ^ | 12/02/10 | Leslie Hook and Robert Cookson
Posted on Friday, December 03, 2010 9:54:54 AM by TigerLikesRooster
Soros immediately came to mind.
Reminds me of the Smith Brother years ago
Rare these days to see one trader openly cornering the market. Usually they’d diversify their holdings among several fronts entities. Sounds like an unsophisticated player or someone who just doesn’t care. Like China.
Villian
Bingo. That was my first thought as well.
Paging Wǔ Xíng Copperfield...
I guess that he is not in it for the money ie... 0.5%
He would be more secure in his position if sold at a premium of 5%.
Fortunes have been made and broke by that silly decimal point in the contract.
He is getting paid to lend the copper out. It hasn’t been determined what he will sell it for.
bingo... they've been buying up metals for some time now wait till they get their mines up and running in Africa
There is an operation across the street from my company that moves heavy material such as steel etc. They have five employees and move 750,000 pounds a day.
We're back Mortimer!
Yep. China says “We don’t need no stinkin’ dollars!”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.