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Giant Squid Spits It's Dummy Out Tells Everyone To Sell Commodities!

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http://www.independent.co.uk/news/business/news/goldman-lsquofuriousrsquo-as-glencore-leaves-bank-out-of-60bn-listing-2268865.html

Goldman Sachs is said to be furious at being left out of the lucrative flotation of Glencore, the giant commodities trader which will make history when it becomes the biggest company to list on the London Stock Exchange for $60bn to be immediately propelled into the FTSE 100 index.

Goldman is the only one of Wall Street's big investment banks not to be included in the syndicate of nine handling the float, which are set to share $300m (£180m) in fees. Banking sources said yesterday that Goldman was not in the syndicate because Glencore's board felt there was no "need" to have the US giant on board.

However, sources claim Goldman's vice-chairman, Michael Sherwood, was so angry by the snub that he contacted Glencore's chief executive, Ivan Glasenberg, to try to persuade him to involve the bank. The flotation is likely to be the biggest this year, and will have a big effect on the league tables so beloved of Wall Street. Glencore declined to comment and Goldman was unavailable.

http://www.telegraph.co.uk/finance/commodities/8457007/Goldman-Sachs-tells-investors-to-take-profits-from-oil-cotton-and-copper.html

"Sell oil, cotton, copper, soybeans and platinum!" urged the commodities oracles at Goldman Sachs, in a surprise note this week.

It was remarkably ironic timing, for investors have been drooling for the past few days over the prospect of further exposure to the booming commodities market through Glencore, the trading house that has finally announced its intention to launch one of London's biggest ever flotations.

Goldman, almost the only major investment bank left off Glencore's list of advisers, moved the market against commodities immediately. The Reuters-Jefferies commodities index saw a two-and-a-half-year-high 10 days ago, but its basket of commodities declined 2.6pc, partly on the back of the bank's unexpected warning.

The trading arms of big houses like Glencore, Vitol, Trafigura and Louis Dreyfus make their money from buying, selling and moving commodities. Within this market, Glencore dominates in metals, controlling around 60pc of the third-party zinc market, half of copper, 45pc of lead, 38pc of alumina and a third of thermal coal.

Looks like the giant squid is a bit upset at not getting an invite to the party.

Still I'm sure it will all be fine, it's not like they are doing Gods work....

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That's ominous, probably means we are looking at commodities going sky high then.

Best to do the opposite of what Goldman recommends, as that's no doubt what they'll being doing behind closed doors.

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Glencore Board have just soared in my estimation.

Not so long ago there was an article, somewhere I read, which mentioned being at a seminar where a GS guy talked proudly in his presentation about how they charged 30% more than the rest.

How do you justify to your board that you are paying 30% more than you need to -I am surprised anyone is still using them.

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Glencore Board have just soared in my estimation.

Not so long ago there was an article, somewhere I read, which mentioned being at a seminar where a GS guy talked proudly in his presentation about how they charged 30% more than the rest.

How do you justify to your board that you are paying 30% more than you need to -I am surprised anyone is still using them.

Yes, I also give the Glencore board a lot of respect and actually I reckon this should help the shares rise on listing.

Everyone knows doing business with Goldman is good for Goldman and bad for your own business.

Edited by Mikhail Liebenstein

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<br />That's ominous, probably means we are looking at commodities going sky high then.<br /><br />Best to do the opposite of what Goldman recommends, as that's no doubt what they'll being doing behind closed doors.<br />

And why would that bee?

Perhaps a Monopolistic MiDDleman company purposely, quietly built up over 35yrs to corner the Worlds markets (forcing prices up for citizens Worldwide on everything you buy, thru their monopoly 'middleman cut')

100's of the 'founder' shareholders who "unregulated" by our so-called protective leaders - will become billionaires and multi-millionaires on the backs of exploiting the peoples of the World

Note the 'G' and 'Glen' connections!

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Glencore Board have just soared in my estimation.

Not so long ago there was an article, somewhere I read, which mentioned being at a seminar where a GS guy talked proudly in his presentation about how they charged 30% more than the rest.

How do you justify to your board that you are paying 30% more than you need to -I am surprised anyone is still using them.

Someone has been watching The Thomas Crown Affair..

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A giant commodities sell off will happen if China and the perception that commodties (and metals) are a one-way bet wears off.

When that happens the recession we should have had post-bankster failure will happen. Too late for me (already buying a roof over my head) , but I would like to be long on $ going forward.

I would expect to see a turnaround in the $ anytime now as the Euro has been rising on very poor fundamentals and the £ is in la la land with the impendning house crash that will take all down with it.

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http://www.telegraph.co.uk/finance/commodities/8457007/Goldman-Sachs-tells-investors-to-take-profits-from-oil-cotton-and-copper.html

sources claim Goldman's vice-chairman, Michael Sherwood, was so angry by the snub that he contacted Glencore's chief executive, Ivan Glasenberg, to try to persuade him to involve the bank

Yes, wikileaks have the contents of that conversation. Here's an extract:

Sherwood : "You think you could've gotten

this far this fast with anybody else?

You think you could be out there

dicking somebody like Darien? No,

you'd be cold calling dentists and

widows to buy twenty shares of some

dog stock! I took you in! A nobody!

I opened doors for you!...I showed

you how the system works!...

...the value of information! How

you get it! Anacott Steel, Brant

Resources, Transuniversal, Fulham

Oil. And this is how you pay back,

you cockroach! I gave you Darien, I

gave you your manhood. I gave you

everything."

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My old mans thinks his pension will buy a lot of this, having kittens for some reason, thinks this means commodities will crash and he'll face a retirement in poverty.

Id have thought if GS is upset, then its a good thing?

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That's ominous, probably means we are looking at commodities going sky high then.

Best to do the opposite of what Goldman recommends, as that's no doubt what they'll being doing behind closed doors.

Must be looking to push the price of stock down that they are trying to short. Not very original Evil Kenivil has been doing it for years...why would anyone want to do business with this bank!

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  • 277 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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