| I see China (and India), differently. Their economies are in a state of collapse, caused by resource shortages. But even if Chinese GDP is flat, or even drops 2% or a whopping 3% (a depression), that's not enough at this point, to cause a metals bear market. Today there are only 147,261 MT of copper left in LME and Comex. Comex is a joke with 65,511 MT, they don't even have collateral on hand to make a market anymore. I lay a bet right now that a rogue trader is in there, trying to force this market down, against all fundamentals. So we will just see where the market is when this drops below 100,000, in a month or so, or 60,000, or 40,000, or zero. We will see then if "economic slowdown" even matters? |
