Glencore and Noble

yea chatter regarding glencore's real time counterparty risk, open credit facilities starting to close, bonds diving. This one looks like it will be the first copper/gold major to go BK...but more will certainly follow. BHP Billton, Rio Tinto, Anglo all looking sickly but Vale seems most at risk to follow glencore

these fellows do indeed look like the investment banks in 2009..I guess glencore looks the part of lehman right now. Also remember that when an investment bank loses its liquidity and credit facilities there is essentially zero book value left but when a miner is in the same boat its stock will only drop to it net assets book which has value (gold in the ground, gold minded, land leases with proven resources, mining equip) but glencore's debt is just much larger than all of these items combined
 
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How do I short Glencore? I've been looking at GLENCORE charts ever since the posts on Zerohedge a few months back. The chart looked like a super short but the hassle of getting LSE access just to short one stock seemed like a pain in the butt
 
yea I think glencore went to investec to offer some of its secondary and investec did heavy due diligence. They found the skeleton right there in the closet. glencore hoping all these funds offered the secondary would just buy it and ask questions later...investec said no dice and here we are with truth laying all over the place. chart looks just like lehman on the first monday morning (it only survived 3 monday mornings once the truth spilled out)

and to heavenskrow's post "how do I trade glencore from the US"

well, there is heavy chatter now regarding how quite a few US based hedgies are going to off load these same shares cuz london closing soon and then your stuck with them overnight (they also trade on the hong kong exchange)
 
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