…and London Metal Exchange is right at its centre
Goldman Sachs, JP Morgan Chase, Morgan Stanley, and other investment banks have for years manipulated the price of metal commodities, to boost their own profits. The cost of their perfidy, in terms of exiguous impacts on consumers, runs to billions of dollars – making tax avoidance schemes by the likes of Google and Amazon seem like purloined pennies in comparison. Goldman and its fellow so-called financial services providers have been doing such a huge disservice, largely because of complacency- if not active complicity – on the part of high-profile “regulators”, headed by the London Metal Exchange (LME) and including the US Federal Reserve and US Congress.
See http://www.minesandcommunities.org/article.php?a=12393.