Hong Kong Exchange to buy London Metals Exchange

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Paladex
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Hong Kong Exchange to buy London Metals Exchange

Once again, the TF Metals Report was months ahead of the mainstream media. Astute Turdfans will remember that several of Turd's podcast guests (and the man himself) have been talking for some time now about big moves in the East that will drastically affect the Cartel's ability to manipulate the price of metals.

Well, today, CNBC reported that:

Hong Kong's stock exchange operator said Friday it has agreed to buy the 135-year-old London Metal Exchange for 1.4 billion pounds ($2.2 billion), as it acts on a plan to shift into commodities to capitalize on Chinese demand.

The exchange has "identified particular demand for commodities trading, focused around metals, to support the large and growing metals consumption in Asia, and particularly, China," it said in a statement.

http://www.cnbc.com/id/47826468

Hold onto your yellow hats, folks, Turd and Willie's "Sheriff from the East" just walked into the saloon.

Edited by admin on 11/08/2014 - 06:01

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bern
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Whoa.  That came out of left

Whoa.  That came out of left field.  The last I had heard in February, there were several groups bidding for the LME including CME Group, the InterContinental Exchange and a consortium of the London Stock Exchange and the Singapore Exchange (SGX), but I never heard that Hong Kong was in play.  Very interesting development.

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