Looks like Alabama election off the shelf and into the fire

Due to Alabama Election fraud

A Democrat installed
4D chess in play

Tuesday, September 29, 2015

Michael Snyder: Is Glencore The Next Lehman? The World’s Largest Commodities Trading Company Is Toast

Michael Snyder: Is Glencore The Next Lehman? The World’s Largest Commodities Trading Company Is Toast
Posted By: NaturalWisdom
Date: Tuesday, 29-Sep-2015 14:06:16

Wall Street traders are either unfazed or taking the news in stride, as NY stock prices are moderately higher today...
Is Glencore The Next Lehman? The World’s Largest Commodities Trading Company Is Toast
Michael Snyder | The Economic Collapse Blog
Sep 28, 2015
http://bit.ly/1Re6cxQ
[snip]
Are we about to witness the most important global financial event since the collapse of Lehman Brothers in 2008? Glencore has been known as the largest commodities trading company on the entire planet, and at one time it was ranked as the 10th biggest company in the world. It is linked to trillions of dollars of derivatives trades globally, and if the firm were to implode it would be a financial disaster unlike anything that we have seen in Europe since the end of World War II.
Unfortunately, all signs are pointing to an inescapable death spiral for Glencore at this point. The stock price was down nearly 30 percent on Monday, and overall Glencore stock has plunged nearly 80 percent since May. There are certainly other candidates for “the next Lehman” (Petrobras and Deutsche Bank being two perfect examples), but Glencore has definitely surged to the front of the pack. Right now many analysts are openly wondering if the firm will even be able to survive to the end of next month.
If you are not familiar with Glencore, the following is a pretty good summary of the commodity trading giant from Wikipedia
Glencore plc is an Anglo–Swiss multinational commodity trading and mining company headquartered in Baar, Switzerland, with its registered office in Saint Helier, Jersey. The company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2014, it ranked tenth in the Fortune Global 500 list of the world’s largest companies. It is the world’s third-largest family business.
As Glencore International, the company was already one of the world’s leading integrated producers and marketers of commodities. It was the largest company in Switzerland and the world’s largest commodities trading company, with a 2010 global market share of 60 percent in the internationally tradeable zinc market, 50 percent in the internationally tradeable copper market, 9 percent in the internationally tradeable grain market and 3 percent in the internationally tradeable oil market.


 

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