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Hi soho

I put this up on another copper over at AVB, of interest here too I think.

Imagine being able to take both sides of a fight, would you have an advantage?
This little announcement is the first step in cleaning up such things, imagine owning the hard asset (yep tonnes of the stuff in xyz co, mines, shipping, warehouse, logistics) and also being able to take huge paper trading positions. Not surprising Goldman Sachs and Morgan Stanley shares fell Friday following this announcement.
Back in the Senate inquiry both of these fine institutions were accused of using their ownership of metals and other physical commodities to dominate and gain unfair advantages, who would have thought eh. The AFR has taken an interest in this too with an article in today edition. As most know my view is that copper is one of, if not the finest physical metal commodity to own/buy right now, investors will be much better served with a fully transparent and market driven price discovery going forward.

http://www.federalreserve.gov/newsevents/press/bcreg/20160923a.htm

Cheers
Phil.