Counterfeiting Scandals Keep Slamming the Commodities Market
Odd Lots1 Jun 2023

Counterfeiting Scandals Keep Slamming the Commodities Market

Earlier this year, it emerged that the London Metals Exchange had been holding a bunch of bags filled with stones instead of the nickel needed to back trades for major commodities players, including Trafigura. Before that, commodities trader Mercuria was given painted rocks instead of the copper it was supposed to take delivery of. In short, the commodities world is no stranger to fraud. But what is it about the business of trading, moving and storing commodities that makes it so susceptible to scandal? In this episode, we speak to repeat Odd Lots guests and commodities collateral specialists Mercury Group CEO Anton Posner and President Margo Brock, about some recent episodes of counterfeiting in commodities world, why they seem to keep happening, and what could be done to prevent further instances from occurring.

See omnystudio.com/listener for privacy information.

Episoder(1188)

Gina Raimondo on How European Industry Is Getting Crushed

Gina Raimondo on How European Industry Is Getting Crushed

The relationship between the US and Europe is deteriorating along both security and economic dimensions. The Trump administration has imposed tariffs, while also being sharply critical of NATO allies....

6 Apr 45min

Scott Bok Explains What Investment Bankers Actually Do All Day

Scott Bok Explains What Investment Bankers Actually Do All Day

There's obviously a lot of talk these days about AI and possible destruction of white collar jobs. Intuitively bankers might be expected to be victims of this. But before we can answer whether AI can ...

3 Apr 54min

This Is How to Tell if Writing Was Made by AI

This Is How to Tell if Writing Was Made by AI

When you consider the fact that many people don't know how and where to place a comma, it's safe to say that AI is already better than most people at writing. It's clean copy. It can be surprisingly p...

2 Apr 48min

Javier Blas on Why Oil Could Go Much, Much Higher

Javier Blas on Why Oil Could Go Much, Much Higher

Oil has shot up by a lot since the start of war with Iran. But it could still get much worse. So far, the massive disruption (due to the closure of the Strait of Hormuz) has been cushioned by the draw...

1 Apr 41min

Why NASA Hired a Chief Economist

Why NASA Hired a Chief Economist

This week, NASA is scheduled to launch Artemis II, a mission that will send astronauts around the moon for the first time in more than 50 years. But this comes at a time when the space agency is facin...

31 Mar 49min

Goldman CIO Marco Argenti on the Warp-Speed Improvements in AI

Goldman CIO Marco Argenti on the Warp-Speed Improvements in AI

When we last spoke to Marco Argenti, chief information officer at Goldman Sachs, we were talking about how the bank was deploying AI, including the development of its own internal tools. But that was ...

30 Mar 52min

Anthropic, the Pentagon, and the Future of Autonomous Weapons

Anthropic, the Pentagon, and the Future of Autonomous Weapons

The last big story right before the war in Iran started was the collapse in the relationship between the Pentagon and Anthropic, with the latter objecting to any potential use of its models in either ...

28 Mar 51min

Now There's a Helium Shortage and It Affects More Than Balloons

Now There's a Helium Shortage and It Affects More Than Balloons

Ripple effects from the war in Iran and the closure of the Strait of Hormuz continue to widen. There's yet another brewing shortage, this time in helium. While most people associate helium with balloo...

27 Mar 50min

Populært innen Business og økonomi

stopp-verden
lydartikler-fra-aftenposten
dine-penger-pengeradet
rss-penger-polser-og-politikk
rss-borsmorgen-okonominyhetene
e24-podden
pengepodden-2
tid-er-penger-en-podcast-med-peter-warren
pengesnakk
livet-pa-veien-med-jan-erik-larssen
finansredaksjonen
utbytte
stormkast-med-valebrokk-stordalen
morgenkaffen-med-finansavisen
lederpodden
rss-markedspuls-2
rss-sunn-okonomi
rss-pa-konto
liberal-halvtime
stockup