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Old 07-21-2013, 03:10 PM
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Fed rethinking move allowing banks to trade physical commodities

The Federal Reserve is "reviewing" a landmark 2003 decision that first allowed regulated banks to trade in physical commodity markets, it said on Friday, a move that may send new shockwaves through Wall Street.

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The one-sentence statement suggests the Fed is taking a much deeper, wide-ranging look at how banks operate in commodity markets than previously believed, amid intensifying scrutiny of everything from electricity trading to metals warehouses.

While the Fed has been debating for years whether to allow banks including Morgan Stanley (MS.N) and JPMorgan (JPM.N) to continue owning assets like oil storage tanks or power plants, Friday's surprise statement suggests it is also reconsidering whether all bank holding firms should be able to trade raw materials such as gasoline tankers and coffee beans.

By referencing its initial decision a decade ago permitting Citigroup's Phibro unit to trade oil cargoes - setting a precedent for a dozen more banks that followed suit - the Federal Reserve has put in question a key profit center for Wall Street's top players, which have already seen multibillion-dollar commodity revenues shrink in the face of new regulations.

On Tuesday, the Senate Banking Committee is holding its first hearing on the issue, asking whether so-called "Too Big to Fail" banks should be taking on additional risks like moving tankers of crude oil or operating power plants.

Amid growing frustration in Washington over regulators' failure to push through new rules five years after the financial crisis, the Fed's widening area of enquiry came as a shock.
http://www.reuters.com/article/2013/...96J0AS20130720

Someone is thinking that speculation is a major elements for none economic grow. What are your thoughts on that?
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Old 07-22-2013, 06:28 AM
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It would be great for ordinary folks if the banks couldn't manipulate gold and silver prices but that is what makes me think that this will never happen.
 
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Old 07-22-2013, 08:09 AM
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It would be great for ordinary folks if the banks couldn't manipulate gold and silver prices but that is what makes me think that this will never happen.
If you want to stop commodities price manipulations in general, you have to forbid the sales of commodities physical stock that is not in possession. But wall street and Co, prefere to sell more than what they have indefinitively to drop any specific market, like the gold ans silver today.

Why are they doing that? Because it cost almost nothing "to print money" from thin air which is an illusion (confidence) that people have something valuable. If you pay attention, many countries around the world are progressively dropping their dollars for gold and silver.

Remember that if the economy collapse, we will have settling of scores at the highest levels.
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Old 07-24-2013, 05:49 AM
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Which agency of government regulates the banking sector? It can not even do its job.Remember those banks that went bankrupt? Whose job is it to regulate and supervise those banks, Allowing banks to deal in physical commodities means added supervision by these regulatory agencies.
 
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Old 07-24-2013, 08:30 AM
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Which agency of government regulates the banking sector? It can not even do its job.Remember those banks that went bankrupt? Whose job is it to regulate and supervise those banks, Allowing banks to deal in physical commodities means added supervision by these regulatory agencies.
You have to understand how the whole thing work. The tougher regulator William K Black said: "The best way to rob a bank is to own one"

You can also buy the dvd "Inside Job" or rent it.

Remember that when everyone are involved in a massive fraud, nobody go to jail.
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Old 07-24-2013, 09:15 AM
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Overdose: The Next Financial Crisis

[YT]4ECi6WJpbzE[/YT]
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