China copper smelters eye more output cuts as raw material supply tightens
CRU predicts a shortage of concentrate feed globally in 2025 at 1.1 million metric tons of copper-in-concentrate.
Gold and oil will go “much, much higher” if the West goes to war with Syria, and “it sounds like America is desperate to have a war,” Jim Rogers told Tara Joseph at Reuters in a recent TV interview:
“Well, Tara, I own oil, I own gold, I own things like that and if there is going to be a war…they’re gonna go much, much higher. Stocks are gonna go down, some of the markets that I’m sure are already going down, commodities are gonna go up. I mean, yeah, some of the things I own all make a lot of money. It’s, I’m not particularly keen on war, I assure you, but it sounds like they want it.”
“No matter how well the plans are made, strange things happen in war and who knows what unintended consequences will come. But I do know that throughout history whenever you had war, things like food prices have gone up a lot, energy prices have gone up a lot, copper price, lead prices: you know, all of these things go up a lot whenever there’s been a war in the past.”
Rogers also discussed the Fed’s plan to scale back quantitative easing, which has already been hitting developing nations hard:
“India and Indonesia – Turkey too, which is part of Asia – all of them have huge balance of trade deficits, which they’ve been able to finance with all this artificial free money that’s been floating around. Now, the artificial sea of liquidity is going to end some day and when it ends, all the people depending on this free money and this sea of liquidity are gonna suffer. Whether its this week or this year or next year, they’re all going to suffer.”
3 Comments
Yoho
Yup.
Fred Stubbs
I don’t think Obama has the guts to pull the trigger unless he can blame this mess on Bush which he can’t. The American voters with any common sense have already washed their hands of Obama. Obama sees himself as some sort of Global Village Wyatt Earp but he’s basically a coward who just talks, talks, talks.
frankinca
What you guys call cowardice, I call intelligence. Anyone who professes war as a problem solution needs their head and maybe their heart examined. Collateral damage and unintended consequences are spawned in a war with no goals, just to overthrow another sovereign nation’s government because certain groups are dissatisfied, if this idea is gold, then it gives Russia the RIGHT to come here and put the Tea Party people in power. Thus really messing up a fragile economic dependent democracy that can hardly afford a war and the added hardships everyone will face. Who wants WWIII stand up and join the service to assure us you are more than good intentions!