Full story here from Telegraph UK.
The purchase was enough to move the entire global cocoa market, sending the price to the highest level since 1977, and triggering rumours and intrigue in the City.
It is unclear which person, or group of traders, was behind the deal, but it [...]
Full story here from Janet Tavakoli.
Chicago residents grew up to the sound of local early morning radio rundowns of pork belly futures and other exchange traded commodities. Every trick in the book from manipulation of soybeans to silver has played out in Chicago’s trading pits. Every market professional I’ve talked to in Chicago since Thursday [...]
Full story here from Market Oracle.
Peter Krauth writes: Major bank profits are up. Way up.
Goldman Sachs Group Inc. (NYSE: GS) just reported that its first-quarter earnings nearly doubled to $3.46 billion, the investment-banking giant’s second-most-profitable quarter since going public a decade ago.
JPMorgan Chase & Co. (NYSE: JPM) recently said its first-quarter earnings came in at [...]
The bullish response to the news may signal China’s embrace of a full of futures markets.
Full story here from Business Week. Wow, now this can justify watching TMZ and CNBC on split screen.
April 14 (Bloomberg) — The Commodity Futures Trading Commission staff, bucking Hollywood opposition, is recommending approval of a market for box-office contracts on films such as “Iron Man 2,” two people with knowledge of the situation said.
The staff [...]
Full story here from ZeroHedge. I love that sexy Swiss man talking sense.
“Marc Faber discusses America’s unsustainable debt load in this interview with Margaret Brennan on Bloomberg TV. An amusing observation: the GDP growth from each $1 of new total debt has dropped from $0.25 to -$0.60. Also some much deserved Bernanke and Krugman bashing. [...]
Full story here from Henry CK Liu at Asia Times.
“In 2009, the John F Kennedy Profile in Courage Award, the nation’s most prestigious honor for public servants, was given to Brooksley Born for her role in 1998, as chair of the Commodity Futures Trading Commission (CFTC), to try, albeit unsuccessfully, to bring over-the-counter financial derivatives [...]
Full story here from Market Oracle.
“In a Yang-Yin world where only two paradigms, models or states are possible – obviously not the real world – commodity boom should replace financial crash, like day follows night.
To some, including Jim Rogers, this is already in the works. Speaking from Singapore in interview with the UK Daily Telegraph [...]
Full story here from The Golden Jackass.
Skip “Uncle Ben’s” recipe for stagflation. Get moving with ShadowTraders and come out ahead.
“…China is directing their mountain of reserves away from acquired mining firms and toward managed hedge funds. This is a new direction for Beijing, clearly in response to the refusal by Rio Tinto to permit a [...]
Link here to this article from Agora Financial. A more obvious show of “No Confidence” was not possible in China, but Mr. Geithner was either too dense or sleazy to realize he was being offended. Perhaps a book on sepuku protocol and function would be an appropriate xmas gift.
“In the past couple of weeks, many [...]