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JUN 05, 2014 - Zero Hedge

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More On China's "Missing Commodity" Scandal: Fallout Spreads As Banks Get Involved

While we have warned about the problem with near-infinitely rehypothecated physical/funding commodities/metals, be they gold or copper, many times in the past, and most recently here, it was only yesterday that China finally admitted it has a major problem involving not just the commodities participating in funding deals - in this case copper and aluminum - but specifically their infinite rehypothecation, which usually results in the actual underlying metal mysteriously "disappearing", as in it never was there to begin with. And disappearing commodities is exactly what we reported yesterday ... Read More

Tags: More On China's "Missing Commodity" Scandal: Fallout Spreads As Banks Get Involved,  Commodities Latest News