I was running naked threw the forest [except for my tin foil hat] stopped and thought "does JPM cornering the copper market have anything to do with silver." Are they trying to corner the silver market threw copper. What is the by product of copper mining? Silver. I checked back and didn`t see this kind of thread. What are your thoughts. Am I to far out on a limb with this idea?
JP it would seem along with deutsche bank + Goldman Sachs is going to set up an SLV equivalent in copper ie. sell "paper" copper on the COMEX. It just another derivative product it seems these guys think they can make a buck out of. JP paid about a billion bucks to buy something like 80% of the above ground stockpile of copper but when you think about it, the stockpiling of copper at $8 a kilo is a rather expensive exercise. You'd have to melt, pour and then store a rather low value, high volume item - so there's probably not much incentive for anyone to stockpile it, hence not much of it. Is this a play on silver? Well, unlikely I would have thought. You could argue JP will try to get a copper derivative going, thereby pumping up the price of copper (opposite to their objective in silver price), then a higher copper price will result in more mining of copper and as silver is a by-product more silver to thereby reduce the silver price. More likely, JP & Co are just out to make $$$ out of manipulating yet another commodity.
It want work for them There is to much recycled copper around,copper prices were around $14 a kilo running up to the Chinese Olympics & than quickly took a dive to current prices.If you want to make $ out of copper.Try recycling electrical leads & just strip the plastic of it .
Stripping plastic off copper, yep that's what happens in India etc but I dont think any JP employees would be doing any "actual" work would they?
Bankers actually physically ,I'd pay $ to see that.Even better I'd like to see them working on a big gig like BDO. Give me 20 of them & a couple of semi trailers full of gear & I'll make them bleed
There is a reason Copper theft is on the increase, Copper is a good play but get the physical, not the worthless"We promise to give you Copper when you ask, cross our hearts and hope to die"promisary note .
ABY is an ASX listed copper miner I have been investing in and out of over time. Its a 100% copper play as that company just digs up the Cu.
from what i've read the copper market is 3 times the size of the ilver market therefore going long on copper hedges their short on silver. they have recently bought 80% of the copper in LME's storage, over $1billions worth from memory. actually in the US you can buy copper as bullion, from what i've researched its all faily old stuff, as in no new mintages in the last year or so. nearly bought some but ended up with more silver. copper had a 3 month supply in storage, after JP's purchase i'm sure that has changed to 1 month storage. LME held about 60-70% of the global storgae, correct me here if some of these numbers are out.
