Saturday, Oct 24, 2009

Metal hoarding

IBT Commodities: Pig Farmers Are Making Brent Nervous

As China offers negative interest rates, the whole population have started obsessive metal hoarding, copper, aluminium, whatever they can get their hands on, using their gardens as storage. Suggests that metals are in a bubble in essence. Pig farmers have got around 50 000 tonnes of copper stashed.

Posted by stillthinking @ 10:45 AM (3794 views)
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11 Comments

1. crunchy said...

The Chinese piggy bank.

It's good to see someones saving.

Saturday, October 24, 2009 11:45AM Report Comment
 

2. crunchy said...

Sorry stillthinking but THE FALL OF THE REPUBLIC is now available to view and no one seems that interested in this.

This is a must watch. As a British citizen who believes in liberty it is my duty to post this link.

Make of this what you will folks I am not going to argue with you.

Here goes.

http://www.youtube.com/watch?v=F8LPNRI_6T8

Saturday, October 24, 2009 05:05PM Report Comment
 

3. crunchy said...

http://www.youtube.com/watch?v=TP5FK4Kiudk&feature=channel

Saturday, October 24, 2009 05:53PM Report Comment
 

4. crunchy said...

http://www.youtube.com/watch?v=opmBPxh4UV4&NR=1

Saturday, October 24, 2009 06:03PM Report Comment
 

5. drewster said...

Isn't this a shoe-shine boy moment? Who is the "greater fool" who will buy their metals? The article states that primary users of metals (i.e. manufacturers) have already built up their own stockpiles and/or futures contracts.

Looks like the only way for copper prices is down. Chinese pig farmers will soon learn about free markets the hard way.

Saturday, October 24, 2009 10:50PM Report Comment
 

6. stillthinking said...

I think prices are going to collapse also. But at the same time, I just read that China has 30 cars per 1000 people compared to 800 for the US. Chinese demand with maybe Indian demand also seems fairly scary in the future.

Saturday, October 24, 2009 11:57PM Report Comment
 

7. crunchy said...

6. stillthinking said..."But at the same time, I just read that China has 30 cars per 1000 people compared to 800 for the US. Chinese

demand with maybe Indian demand also seems fairly scary in the future."

Don't worry, to even the balance the Chinese will be exporting their old used push bikes to America.

Sunday, October 25, 2009 01:20AM Report Comment
 

8. crunchy said...

I hope that some HPCers are getting the main point of what this crisis may really be about.

Take your time when viewing this documentary. You owe it to yourselves to do the due research. It is out there.

Sunday, October 25, 2009 02:57AM Report Comment
 

9. drewster said...

stillthinking,

Even in a long-term upward trend, you get huge pullbacks. Look at the price of oil - last year it hit $147/barrel, today it's around $80. When investment/speculative demand takes over from real demand, that's a bubble.

Sunday, October 25, 2009 10:56AM Report Comment
 

10. mountain goat said...

Copper wire got nicked off the train signals near my home in Manchester last week. So still some demand for this metal then!

Sunday, October 25, 2009 06:29PM Report Comment
 

11. Agentimmo said...

Crunchy, I can see a fat american in Califirornia panicking because the good times are over for him and his like and the local Wendy's might not offer free refills in 2011. Portions will get smaller to keep prices low. IHOP will only give 4 pancakes on their house special instead of 6 etc...Surpised he's only making the video recently. This has been coming down the line in the US since early 2000's. And it's no use blaming the current President, it was fuelled by the Bush family and the days of cowboy Reagan.
I'm supposed to feel sorry / scared by what he's saying ? To an extent, yes. If the US really does meltdown, it means i won't be able to go on holiday there without a pistol :)
Anyway, if it all moves East, I'm sure there are nice places in China just waiting to be discovered and take my tourist euro..............

Sunday, October 25, 2009 09:11PM Report Comment
 

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