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Chopstick
12-22-2010, 01:28 PM
I dunno what this guy is up too. He better be hedged with the futures or he is gonna get his you know what handed to him. This is happening on the London market. You can't do that sort of thing in the American markets. They won't allow it. The European markets are not as tightly regulated as the American markets.

jimmyg
12-22-2010, 02:45 PM
<span style="color: #FF0000">A Single Trader, JP Morgan, Holds 90% Of LME Copper </span>

Submitted by Tyler Durden on 12/21/2010 21:43 -0500

When a week ago we reported that JP Morgan has denied it owned more than 90% of the copper positions on the LME, we suggested that this could very well mean that Blythe Master's firm could just as easily control 89.999% of the copper and still not misrepresent the truth per that non-commital press release. Turns out our unbridled cynicism was spot on as usual. The Wall Street Journal has just reported that in the copper market "a single trader has reported it owns 80% to 90% of the copper sitting in London Metal Exchange warehouses, equal to about half of the world's exchange-registered copper stockpile and worth about $3 billion." Oh and yes, while JP Morgan technically is not singled out, we will be delighted to issue a retraction the second JP Morgan approaches us with a refutation that it is not the trader in question. And while we are at it, we also will repeat our claim that it was indeed JP Morgan that reduced its massive silver position, as per the recent FT article: as above we will immediately issue a retraction and apologize should JPM's legal department contact us that we are wrong on this. Somehow we don't think that will be an issue. And so it is once again made clear that the biggest market manipulating cartel in the world is not only JPM's commodity trading operation, but the "regulators" at the CFTC, who are doing all they can do to delay implementing rules on position limit- a stalling tactic whose sole purpose is to make the life of Jamie Dimon as comfortable as possible while he corners the copper market (and offloads his PM shorts to some "foreign bank"), even if that means the complete collapse in faith in the commodity market. Presumably, this means that Mr. Gensler has received an outsized Christmas gift to assuage his conscience. As for the commodity market, well, just look at what has happened to the stock market now that everyone knows it is nothing but a house of cards scam where a few robots front run each other. We are confident to quite confident tomorrow's ICI report will confirm that 33rd consecutive outflow from domestic equity funds. It is a pity that the same fate will now happen to the commodities market, as everyone tells Gensler to shove his corrupt market, and moves to physical. Frankly, it couldn't happen to a nicer group of so-called regulators.

.

cushioncrawler
12-22-2010, 04:37 PM
I dont understand this, but it makes me mad mad mad.
On the other hand -- diamonds etc and gold etc iz/are manipulated probly moreso than copper etc.
Of course the richest commodity iz money -- and this iz manipulated even moreso than all the rest.

But if u are talking futures -- then u karnt go past being able to corner Heaven. Every religion iz trying to corner Heaven.
Some religions hav gone further, they say that if u dont buy some of their Heavenly shares then they will giv u some shares in Hell for free.
mac.

Chopstick
12-22-2010, 08:27 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: jimmyg</div><div class="ubbcode-body"> Frankly, it couldn't happen to a nicer group of so-called regulators.

.
</div></div>

LOLOLOL Amen brother /forums/images/%%GRAEMLIN_URL%%/laugh.gif

Chopstick
12-22-2010, 08:31 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: cushioncrawler</div><div class="ubbcode-body">I dont understand this, but it makes me mad mad mad.
On the other hand -- diamonds etc and gold etc iz/are manipulated probly moreso than copper etc.
Of course the richest commodity iz money -- and this iz manipulated even moreso than all the rest.

But if u are talking futures -- then u karnt go past being able to corner Heaven. Every religion iz trying to corner Heaven.
Some religions hav gone further, they say that if u dont buy some of their Heavenly shares then they will giv u some shares in Hell for free.
mac. </div></div>

Hi Mac. Back from Tazzy yet. /forums/images/%%GRAEMLIN_URL%%/laugh.gif

cushioncrawler
12-23-2010, 04:37 PM
Chops -- We ferry back (to Melbourne) on 2nd Jan. Yesterday i took off on my own and drove around on gravel roads looking at trout streams and lakes in the hills.

I picked a bad route coming back and woz 45 minutes late for a meeting with some billiards guys at a club in Hobart.
I picked a long narrow slippery hilly gravel road running along the sides of steep bare hills -- it woz a nightmare -- half of the 300 bends were blind (ie say 35kmph)-- it cost me about 30 minutes.
Funny, two or three of the bends had warning signs -- to go 25kmph -- that really gets your attention.
Luckyly i only met one car going the other way -- we missed, thanx to my good driving.
mac.

LWW
12-23-2010, 07:09 PM
How's that 327 foot fishing pole working out?

I always thought it was unfair that you could have fishing poles but not fishing czechs or fishing slovaks anyway.

LWW

cushioncrawler
12-23-2010, 07:23 PM
The 7m pole hadnt kum to the post office by the time we left -- probly sitting there now. I am rezisting my urge to get a fishing licence ($60) in Tazzy (and new gear).

I forgot to say -- yesterday on my trip i went throo a town called Jerusalem -- in fakt they hav now changed the name to Colebrook, but the church and other signs still say Jerusalem.

And further up the road woz Jericho -- but i turned off before there.

The local lake iz stocked with 10lb salmon and 8lb browns -- it would be funny if they called it Lake Galalee.
If it did i would put a sign there saying no walking on the water.
mac.

jimmyg
12-23-2010, 11:27 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: cushioncrawler</div><div class="ubbcode-body"><span style="color: #FF0000">I dont understand this</span>, but it makes me mad mad mad.
On the other hand -- diamonds etc and gold etc iz/are manipulated probly moreso than copper etc.
Of course the richest commodity iz money -- and this iz manipulated even moreso than all the rest.

But if u are talking futures -- then u karnt go past being able to corner Heaven. Every religion iz trying to corner Heaven.
Some religions hav gone further, they say that if u dont buy some of their Heavenly shares then they will giv u some shares in Hell for free.
mac. </div></div>

You, my friend, understand this as well as anyone who's ever tried. /forums/images/%%GRAEMLIN_URL%%/grin.gif

J

Chopstick
12-24-2010, 06:57 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: cushioncrawler</div><div class="ubbcode-body">
The local lake iz stocked with 10lb salmon and 8lb browns -- it would be funny if they called it Lake Galalee.
If it did i would put a sign there saying no walking on the water.
mac. </div></div>

LOL. I would in a second. /forums/images/%%GRAEMLIN_URL%%/laugh.gif

I'd be scared to have a house in Jericho. I bet they have a sign that says no horns allowed. /forums/images/%%GRAEMLIN_URL%%/laugh.gif

cushioncrawler
12-25-2010, 05:43 AM
I woz just then looking at the map in that area -- and there iz allso a town called Baghdad -- and a Jordan River.
In addition to Jerusalem (now Colebrook) and Jericho.
mac.

LWW
12-25-2010, 06:00 AM
In the Commonwealth of Kentucky there are citties/towns/villages named:

-Bagdad.
- London.
- Paris.
- California.
- Dayton.
- Mount Zion.
- Land of Goshen.
- Stab.
- Zo.
- Mud Lick.
- Shoulderblade.
- Oddville.
- Krypton.
- Quicksand.
- Ordinary.
- Cut Shin.
- Hippo.
- Burning Springs.
- Knob Lick.
- Relief.
- Beaver Lick.
- Deerlick.
- Sugartit.
- Big Knob.
- Big Bone Lick.
- Sligo.
- Fisty.

LWW

cushioncrawler
12-25-2010, 05:49 PM
We are going into Hobart today -- i hav been googling Errol Flynn.
Last time we were in Hobart we drove past Errol Flynn Reserve, this iz the little beach at Sandy Bay where he swam when a kid.
I might drive up say 15 streets where he lived or went to school or acted or watched the silver screen or played tennis.
Plus another 4 or 5 streets in old Hobart town that apparantly Errol hadnt had sex in -- might be 1 or 2 streets aktually -- but only koz no girls lived in thems streets.

The guy i got my 12' table from told me he had Errol's 6shot revolver, that Errol had in New Guinea (Errol did shoot a native dead).
mac.

LWW
12-26-2010, 03:36 AM
I didn't know Errol was an Ozzie.

LWW

cushioncrawler
12-26-2010, 04:10 AM
I drove up thems Errol streets -- took lots of Errol photos of.....
1.... Sandy Bay beach -- where he got hiz tights wet (1912?).
2.... 60 Duke St -- where he lived (1918?).
3.... 33 Melville St -- where he boarded (1925).
4.... Darcy St -- some 2-storey brick houses, possibly one he lived (1914).
5.... Warwick St -- some old houses, possibly inklooding the one where a 50cm by 50cm by 5cm piece of concrete woz kut out from a floor of some sort (and then sat in the garage for years) and having the graffito... ERROL FLYNN 1914.
6.... Albuera St school -- where he learnt.
7.... Theatre Royal -- where he watched the silent silver screen (1924).
8.... Didnt find Hobart High School -- where he learnt (1924).
9.... Didnt find Strand Theatre -- where he performed (1926).
10... Didnt find Franklin House School -- where he learnt.
11... Didnt find Hutchins School -- where he learnt.
12... Didnt find Holebrook Place -- where he learnt (or lived?).
13... Didnt find Fernside Tennis Club -- where he tennised (1926).
14... Found Aberdeen St -- but karnt remember what Errol did there????
15... Hobart Museum -- but they no longer hav an exhibition of Errol's letters etc.
16... Battery Point -- Errol woz born there -- probly in the old hozzy (1909), now gone.

I might havta kontakt the local society to find out more info.
mac.

Chopstick
12-26-2010, 09:53 AM
Looks like the weather is nice down there. Have you seen any of these? I've always wanted to see one.

http://www.vagabondish.com/wp-content/uploads/aurora-australis.jpg

cushioncrawler
12-26-2010, 03:45 PM
No i karnt remember ever seeing the southern aurora.
Tazzy weather iz nice -- i like the rain and the cold -- especially in summer.
I hav not seen even one person swimming here -- even tho there iz more beach here than allmost anywhere else in Ozz -- i guess the water iz too cold -- mightbe some swimming in Feb praps.
Errol did complain that the water at Sandy Beach woz very cold when he woz a kid.
mac.

Qtec
12-28-2010, 04:21 AM
Remember this?

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Nelson Bunker Hunt (born February 22, 1926) is an American oil company executive. He is best known as a former billionaire whose fortune collapsed after he and his brother William Herbert Hunt <span style='font-size: 14pt'>tried but failed to corner the world market in silver.</span>[1] He is also a successful thoroughbred horse breeder.[2] </div></div>

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Beginning in the early 1970s, Hunt and his brother William Herbert Hunt began accumulating large amounts of silver. By 1979, they had nearly cornered the global market.[6] In the last nine months of 1979, the brothers profited by an estimated $2 billion to $4 billion in silver speculation, with estimated silver holdings of 100 million ounces.[7]

During the Hunt brothers' accumulation of the precious metal, prices of silver futures contracts and silver bullion during 1979 and 1980 rose from $11 an ounce in September 1979 to $50 an ounce in January 1980. Silver prices ultimately collapsed to below $11 an ounce two months later. The largest single day drop in the price of silver occurred on Silver Thursday.[1]

Hunt filed for bankruptcy under Chapter 11 of the Federal Bankruptcy Code in September 1988, largely due to lawsuits incurred as a result of his silver speculation.[1]

In 1989 in a settlement with the United States Commodity Futures Trading Commission, Nelson Bunker Hunt was fined US$10 million and banned from trading in the commodity markets as a result of civil charges of conspiring to manipulate the silver market stemming from his attempt to corner the market in silver.[1] This fine was in addition to a multimillion-dollar settlement to pay back taxes, fines and interest to the Internal Revenue Service for the same period.[1]
[edit] Politics

He has been extremely active in conservative political causes[8] and as of 2008[update] is a member of the Council of the John Birch Society.[3]

He was one of the main sponsors of the conservative organization Western Goals Foundation founded in 1979 by General John K. Singlaub, journalist John Rees, and Democratic Congressman from Georgia Larry McDonald. During the mid 1980s, Bunker Hunt contributed almost half a million U.S. dollars to "The National Endowment for the Preservation of Liberty" (NEPL),[9][10] a conservative fundraising organization later heavily implicated in the Iran-Contra affair.[11] Hunt is past Chairman of the Board of the Bible Society of Texas and the past Chairman of, and significant contributor to Campus Crusade for Christ International's "Here's Life" Campaign (197680),[12][13] as well as providing a $3.5 million loan guarantee for the 1979 Campus Crusade film "Jesus".[14] </div></div>

Q

LWW
12-28-2010, 06:27 AM
And ... ?

LWW

Chopstick
12-28-2010, 07:10 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">Remember this?

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Nelson Bunker Hunt (born February 22, 1926) is an American oil company executive. He is best known as a former billionaire whose fortune collapsed after he and his brother William Herbert Hunt <span style='font-size: 14pt'>tried but failed to corner the world market in silver.</span>[1] He is also a successful thoroughbred horse breeder.[2] </div></div>

Q </div></div>

<span style="color: #000099">Yes. I thought about the Hunt brothers when I heard the news. I didn't know much about anything back then but I do remember those guys caused quite an uproar. I heard there were even some governments like the Bahamas that jumped on the ride with them and got busted out when the price collapsed but that part might just be a rumor. I should read up on that whole thing. I could probably learn something from it.

Everyone is watching energy and copper because when they start to move, it means the economy is starting up again. Somebody did something in oil and gas yesterday. I wasn't keeping up with it. Almost no one is trading this week with the ice storms and the holidays. The old traders are saying that volumes are thinner than they have ever seen in 25 years. So, when I heard somebody had lit a fire over in the energy sector I didn't even go look. It could be two guys over there bidding it up.
</span>