With global workers increasingly squeezed in a tightening vice of asset deflation and commodity inflation, the Wall Street Journal reported recently that a single trader owns ½ the planet’s copper. Stashed in a London Metal Exchange (LME) warehouse, its owner is said to be J. P. Morgan Chase.
The same Journal article- “One Giant Pile of Copper” by Tatyana Shumsky and Carolyn Cui- states that one trader controls 90% of LME aluminum stockpiles; 50-80% of LME nickel, zinc and aluminum alloy; and 40-50% of warehoused tin.
Yet another Journal article bragged that US oil storage facilities are full to the brim, while gas prices eclipse the $4/gallon mark. It’s a strange sort of math. While the corporate media explains away commodity inflation with code phrases like “Chinese demand” and “supply shortages”, the pain that workers are feeling at the grocery store and gas pump alike is plainly being administered by speculative arms of the Eight Families Illuminati bankers. Read the rest of this entry »