{"id":12759,"date":"2015-09-29T06:22:44","date_gmt":"2015-09-29T11:22:44","guid":{"rendered":"http:\/\/olduvai.ca\/?p=12759"},"modified":"2015-09-29T06:22:44","modified_gmt":"2015-09-29T11:22:44","slug":"is-glencore-the-next-lehman-the-worlds-largest-commodities-trading-company-is-toast","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=12759","title":{"rendered":"Is Glencore The Next Lehman? The World\u2019s Largest Commodities Trading Company Is Toast"},"content":{"rendered":"

Is Glencore The Next Lehman? The World\u2019s Largest Commodities Trading Company Is Toast<\/a><\/h3>\n

\"Toast<\/a>Are we about to witness the most important global financial event since the collapse of Lehman Brothers in 2008?\u00a0 Glencore has been known as the largest commodities trading company on the entire planet, and at one time it was ranked as the 10th biggest company in the world.\u00a0 It is linked to\u00a0trillions<\/strong>\u00a0of dollars of derivatives trades globally, and if the firm were to implode it would be a financial disaster unlike anything that we have seen in Europe since the end of World War II.\u00a0 Unfortunately, all signs are pointing to an inescapable death spiral for Glencore at this point.\u00a0 The stock price was down nearly 30 percent on Monday, and overall Glencore stock has plunged nearly 80 percent since May.\u00a0 There are certainly other candidates for \u201cthe next Lehman\u201d (Petrobras and\u00a0Deutsche Bank<\/a>\u00a0being two perfect examples), but Glencore has definitely surged to the front of the pack.\u00a0 Right now many analysts are openly wondering if the firm will even be able to survive to the end of next month.<\/p>\n

If you are not familiar with Glencore, the following is a pretty good summary of the commodity trading giant\u00a0from Wikipedia<\/a>\u2026<\/p>\n

Glencore plc is an Anglo\u2013Swiss multinational commodity trading and mining company headquartered in Baar, Switzerland, with its registered office in Saint Helier, Jersey. The company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2014, it ranked tenth in the Fortune Global 500 list of the world\u2019s largest companies. It is the world\u2019s third-largest family business.<\/p>\n

As Glencore International, the company was already one of the world\u2019s leading integrated producers and marketers of commodities. It was the largest company in Switzerland and the world\u2019s largest commodities trading company, with a 2010 global market share of 60 percent in the internationally tradeable zinc market, 50 percent in the internationally tradeable copper market, 9 percent in the internationally tradeable grain market and 3 percent in the internationally tradeable oil market.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Is Glencore The Next Lehman? The World\u2019s Largest Commodities Trading Company Is Toast Are we about to witness the most important global financial event since the collapse of Lehman Brothers in 2008?\u00a0 Glencore has been known as the largest commodities trading company on the entire planet, and at one time it was ranked as the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[9374,151,9375,9376,1668,9377,1839,3316,5983,6061,9378,1123,9379,4901,5418,9380,9381],"class_list":["post-12759","post","type-post","status-publish","format-standard","hentry","category-economics","tag-collapse-of-lehman-brothers","tag-commodities","tag-commodities-trading","tag-death-spiral","tag-derivatives","tag-derivatives-trades","tag-deutsche-bank","tag-disaster","tag-economiccollapseblog","tag-financial","tag-financial-disaster","tag-glencore","tag-global-financial-event","tag-michael-snyder","tag-petrobras","tag-the-next-lehman","tag-the-next-lehman-brothers"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12759"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12759\/revisions"}],"predecessor-version":[{"id":12760,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12759\/revisions\/12760"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}