Sunday, November 06, 2011

Goldman's new money machine: warehouses

Interestingly, this came via Hacker news. 

A string of warehouses in Detroit, most of them operated by Goldman, has stockpiled more than a million tonnes of the industrial metal aluminum, about a quarter of global reported inventories.
Simply storing all that metal generates tens of millions of dollars in rental revenues for Goldman every year.

 No wonder, they are adding to the rampant inflation at the cost to the end users- consumers like you and me. 

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