Scotiabank closes its metals business

[Russell]

Very interesting artticle...

https://business.financialpost.com/news/scotiabank-to-close-its-metals-business

 

[jultorsk]

Sprott comment:

 

[Russell]

Yes I saw that and again there is a suggestion of something very fishy coming around the corner.  Mike Malony at goldsilver.com says that Scotia know the music is about to stop so they are getting out before they get caught without a chair.

[MancunianStacker]

“Almost the opposite of what’s happening in the oil market right now”. - says a lot!

[jultorsk]

28 minutes ago, MancunianStacker said:

“Almost the opposite of what’s happening in the oil market right now”. - says a lot!

I heard the same! 😉 Maybe it's the classical "Better be a month early than a day late" kind of situation...

[Russell]

They were in the top 10 shorters of precious metals and they traded on higly leveraged products, the credit market is severely contracting makes sense for them to exit.  I just want to hear thst J P Morgan has left this market and we are clear for lift off 🙂