Goldman Sachs Manipulates Aluminum Prices

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http://www.huffingtonpost.com/2013/07/22/millercoors-federal-reserve-aluminum_n_3636764.html



The maker of popular beers (http://www.millercoors.com/Our-Beers/Great-Beers.aspx) Coors Light and Miller High Life will tell the Senate Banking Committee that financial groups, through their ownership of warehouses, are distorting the aluminum market by controlling how much aluminum flows out of their storage facilities, leading to extra rent and other costs for industrial companies.

Tim Weiner, MillerCoors global risk manager of commodities and metals, said in prepared remarks (http://www.banking.senate.gov/public/index.cfm?FuseAction=Hearings.Testimony&Hearing_ID=cca72cb5-a8fd-427a-978a-a51140a75cb0&Witness_ID=2693f0d4-b114-498b-9fdc-bf5b118aeb14) that rules exploited by banks and other warehouse owners have cost his company tens of millions of dollars in recent years as a result of an "economic anomaly in the aluminum and other base metal markets."

The alleged gaming has cost aluminum purchasers overall an extra $3 billion, an expense that likely has been passed on to beer and soda drinkers.


FUCK THE BANKS!!!!

[Latrinsorm]

If the Founding Fathers had intended our government to be able to regulate the way beer companies purchase aluminum, they would have specifically written that in the Constitution. They didn't. Therefore, stop being a socialist!!! (And not the Founding Fathers kind of socialist, the other kind, the bad kind. You know the kind I mean.)

[Tgo01]

The solution is simple, beer in a glass bottle.

[Gelston]

Tastes better in glass anyways.

[Tgo01]

Tastes better in glass anyways.

For reals. I can tell the difference between soda that comes in aluminum, plastic and glass. Glass all the way. Aluminum is the least delicious in my opinion.

[Atlanteax]

It is my understanding that Goldman Sachs (and any other such financial institution) was unable to engage in such blatant market manipulation until the 'deregulation' of the 1990s made it significantly easier for conflict of interests to develop.

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It shows precisely why regulation is needed. Without it this shit happens.

Arguing which beverage container is better is valid as a personal preference but it ignores the larger point of banks nickle and diming us from the cradle to the grave.

I prefer an ice cold Coke from a can myself. The green glass bottle is second. And really thats more of a marketing campaign that taps into people's nostalgia.

[Tgo01]

I prefer an ice cold Coke from a can myself.

I knew you were a communist.

[Gelston]

I prefer an ice cold Coke from a glass bottle. They really do taste a lot better. They are, unfortunately, generally smaller so it is gone in like one sip.

[diethx]

I actually prefer soda in a can over soda in plastic. Glass and fountain would be better than both of those options, though.

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Yeah fountain is probably what I would grab in a convenience store over a can or a bottle.

You ever get a little from each tap in one drink? Tastes like liquid Smarties.

[Tgo01]

Some places use too much carbonation and water in their fountain drinks and they taste too watery. The places that use more syrup though are yumminess.

[Parkbandit]

It shows precisely why regulation is needed. Without it this shit happens.

Or just actually enforcing the current regulations...


Arguing which beverage container is better is valid as a personal preference but it ignores the larger point of banks nickle and diming us from the cradle to the grave.

I prefer an ice cold Coke from a can myself. The green glass bottle is second. And really thats more of a marketing campaign that taps into people's nostalgia.

Brown bottles > green bottles.

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Brown bottles > green bottles.

For beers... yes brown does protect the beer from light better. Canning technology has improved though and protects from light the best. I'm starting to see lots of craft breweries offering cans. Supposedly its cheaper even with Goldman Sachs fangs in the aluminum market.

[Parkbandit]

For beers... yes brown does protect the beer from light better. Canning technology has improved though and protects from light the best. I'm starting to see lots of craft breweries offering cans. Supposedly its cheaper even with Goldman Sachs fangs in the aluminum market.

What were you talking about green bottles.. if not for beer?

And I'm starting to come around to cans since my favorite brewery (Cigar City) is now converting over. Another benefit of beer in cans is the absolute darkness it keeps your beer in. Light kills beer.

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What were you talking about green bottles.. if not for beer?

And I'm starting to come around to cans since my favorite brewery (Cigar City) is now converting over. Another benefit of beer in cans is the absolute darkness it keeps your beer in. Light kills beer.

The old Coke bottles. Tinted green. Surely you remember those.

[Parkbandit]

The old Coke bottles. Tinted green. Surely you remember those.

So, you prefer your Coke in green bottles? Do they even use green bottles anymore?

[Gelston]

Yes, aluminum is better than plastic in my opinion as well.