Glencore is the NEW "Lehman"

[neilgin1]

4AM.......Glencore, one of the largest cash commodity traders is trading 10% to new lows. JUST as in 08, Goldman "engineered"
one of it biggest competitors Lehman's takedown, so they have engineered this takedown.

Glencore will be the black swan, that implodes not only global equity markets, but corporate bond and CDS, and other black box credit markets as well.....in the next couple of weeks, you're going to hear the name Glencore a LOT.

Goldman is "Brazini", with that revolving door, back and forth between the company and the FED/Treasury Dept...

here's a "live " feed from the Guardian:
http://www.theguardian.com/business/liv ... wagen-live

[neilgin1]

and posted on 24 Sep 2015:

"Is Goldman Preparing To Sacrifice The Next "Lehman"?"

http://www.zerohedge.com/news/2015-09-2 ... ext-lehman

[neilgin1]

[johnbrickner]

Thank you Neil:

I can always count on you to be my eyes and ears in the areas I do not tread. Valuable information to have today.

Brick

[neilgin1]

Thank you Neil:

I can always count on you to be my eyes and ears in the areas I do not tread. Valuable information to have today.

Brick

You're welcome Brick,

we all saw what happened to both Ag and Equities today, but Glencore? its the pin in the grenade, its the 2015 version of either Bear Sterns, or Lehman.....just today, Glen closed at 68.62 down 28.60, which is almost 30% down in one day...opened at 97.00, on volume of almost 300 million sheers, "avg daily volume" is 77 mln shares, and i'm certain that number has been amped because the 52 week high was 345.70...this isn't some PPT paint the tape stock, it WAS one of the largest traders of PHYSICAL commodities, and by week end, I don't see it surviving, and God only knows what the counterparty risks are.

here's the Yahoo chart, as I wouldn't pay a red cent for any "quotes"
http://finance.yahoo.com/q?s=glen.l

combined with all the PM dysfunctions, every single geopol nightmare, etc.......stacking is fine, but stack at least 3 months food for family, (DONT FORGET LEAD) and if you live in the cities/burbs?.....just shelter in place, don't bug out...winters coming, and if anyone thinks i'm just getting "hysterical"....its going to be a long dark nasty winter, there's a foul wind blowing.....I PRAY i'm wrong.

here's the wiki brief on Glencore, so you can get a handle on it...this is no penny stock, or whacked out high PE zuckerberg social medium plaything....this was a planned demo, by the same criminals that bought you the mess in 2008
https://en.wikipedia.org/wiki/Glencore

later add...yes, yes...I KNOW Glencore isn't a model global company, and undoubtably made innumerable enemies of the other scumbag corporations, who saw their weakened position, and decided to take them down, which will be the first domino falling in the vast Ponzi scheme these last 7 years of what passes off as "capitalism", trouble is when THE SCHEME implodes, most of these f###o's are already reving up their G5's and getting out of Dodge, while good and decent folk will have undergo some nasty brutal conditions....I told you "The Walking Dead" is a metaphor, God have mercy on us all. Brace. Be strong.

[beauanderos]

https://finance.yahoo.com/news/glencore-mining-sectors-lehman-060000911.html

[neilgin1]

https://finance.yahoo.com/news/glencore-mining-sectors-lehman-060000911.html

try this one:
http://www.bloomberg.com/news/articles/ ... o-if52gb9o

I still maintain that Lehman was a controlled demolition by Goldman intent on killing a competitor. in a DECENT world, ruled by law, Blankfein, Dimon and Corzine would ALL be behind bars. Madoff rightly is, but he wasn't connected like the preforementioned criminals.....and the lives he ruined were higher net individuals, who could hire counsel and speak on TV, the lives ruined by the others, via the subprime housing bubble, didn't have the means, or savvy, to get the traction they needed.

[InfleXion]

I still maintain that Lehman was a controlled demolition by Goldman intent on killing a competitor. in a DECENT world, ruled by law, Blankfein, Dimon and Corzine would ALL be behind bars. Madoff rightly is, but he wasn't connected like the preforementioned criminals.....and the lives he ruined were higher net individuals, who could hire counsel and speak on TV, the lives ruined by the others, via the subprime housing bubble, didn't have the means, or savvy, to get the traction they needed.

The most recent YouTube video by BrotherJohnF went over Glencore's history (mostly reading from Wikipedia), and he paints a picture of a pretty corrupt company that I think few would shed a tear over were they to get crushed by HFT algos and sold for pennies on the dollar to a very willing buyer. Still, I don't envision a scenario where Glencore going under does anything to alter the fate of the too big to jail financial institutions which are only solvent because the Fed spiked the punchbowl.

Looks like China is buying up their copper (and thus silver as a byproduct) mines:
http://www.mineweb.com/news/base-metals ... pping-list

Glencore is also adding yet another IOU to the chain of counter party risk in metals:
http://www.mineweb.com/news/silver/glen ... er-output/

South Africa’s National Union of Mineworkers is asking its members in the coal sector to strike over wages:
http://www.mineweb.com/news/companies/s ... al-sector/

“We have the certificate to strike and will give the companies 48-hour notice later,” Peter Bailey, NUM’s chief negotiator in the coal sector, told Reuters.

NUM had been seeking wage hikes of up to 50% at one point but had scaled back and Bailey said its latest demand for its lowest-paid members was for increases of 1,000 rand ($72) a month, which he said amounted to about 13%.

A spokeswoman for the Chamber of Mines, which represents Glencore, Anglo American Coal and Exxaro , said the coal producers had raised their offer to wage increases of up to 8.5% for the lowest-paid workers, from 8% previously.

[Cu Penny Hoarder]

No, it's not... maybe the beginning of something, but IMO, it's a minor thing.

Something systemic has to hit, that's what will take it down. We're almost at that point.