Tuesday, March 11, 2014
Beware the Copper Dragon
Lee just emailed that copper had dipped below my personal alarm of $3/lb.
Why did it dip? This story from China is directly related. You will remember that China had a problem a few months ago, when a shadow bank debt service was reportedly not going to make it on time. I think it was for $160 million, and the world markets freaked.
Can this be papered over? Beats me - we are watching the entire system coming apart with twitches here, spasms there, hints over yonder...
All rational data points affirm that implosion is imminent.
If copper remains under $3 for any length of time, watch out for falling anvils.
Posted by K at 10:55 AM