order Pregabalin online uk – More On China’s “Missing Commodity” Scandal: Fallout Spreads As Banks Get Involved (ZeroHedge, June 5, 2014):
While we have warned about the problem with near-infinitely rehypothecated physical/funding commodities/metals, be they gold or copper, many times in the past, and most recently here, it was only yesterday that China finally admitted it has a major problem involving not just the commodities participating in funding deals – in this case copper and aluminum – but specifically their infinite rehypothecation, which usually results in the actual underlying metal mysteriously “disappearing”, as in it never was there to begin with.
And disappearing commodities is exactly what we reported yesterday the third largest Chinese port of Qingdao is being investigated for after a source at a local warehouse said that “it appears there is a discrepancy in metal that should be there and metal that is actually there… where can i buy provigil forum We hear the discrepancy is 80,000 tonnes of aluminium and 20,000 tonnes of copper, but we hear that the volumes will actually be higher. It’s either missing or it was never there – there have been triple issuing of documentation.”
This has resulted in a prompt and acute selloff of copper and other commodities as we further documents, but the problems may only now be starting and the banks, those which stand to lose the most if their “collateral” is uncovered to have never existed, are finally getting involved. http://www.spazisonori.com/981-dtit45305-bakeca-incontri-vigonza.html As Reuters reports, worries over a probe into commodity stockpile financing at China’s Qingdao port appeared to deepen on Wednesday as Standard Bank Group and a part-owned unit of Louis Dreyfus Corp warned of potential losses and copper prices fell further.”