Tell The Fed How You Really Feel About Banks Trading Physical Commodities

Tyler Durden's picture

Delighted by the Goldman Sachs et al commodity cartel hoarding aluminum inventory in one of their warehouses and pushing prices artificially higher? Happy that JPM is reprising the role of Enron (without admitting or denying it) and creating "schemes" with which to boost prices for end consumers (and have FERC furiously slap its wrist in response)? Ecstatic by that whole "precious metals" manipulation 'thing' by assorted unnamed banks (aside from the London fix of course - that has now been confirmed)? Then take this opportunity to tell the Fed how happy you really feel.

Click on the link below for the full comment form.

Joking aside, here is why the Fed is issuing this proposal for public comment "Complementary Activities, Merchant Banking Activities, and Other Activities of Financial Holding Companies related to Physical Commodities"

The Board of Governors of the Federal Reserve System (Board) is issuing this advance notice of proposed rulemaking (ANPR) inviting public comment on various issues related to physical commodity activities conducted by financial holding companies and the restrictions imposed on these activities to ensure they are conducted in a safe and sound manner and consistent with applicable law. The Board is inviting public comment as part of a review of these activities for the reasons explained in the ANPR, including the unique and significant risks that physical commodities activities may pose to financial holding companies, their insured depository institution affiliates, and U.S. financial stability.


This advance notice of proposed rulemaking (ANPR) is designed to elicit views from the public on the risks and benefits of allowing FHCs to conduct physical commodity activities under the various provisions of the BHC Act, whether risks to the safety and soundness of a FHC and its affiliated insured depository institutions (IDIs) and to the financial system warrant Board action to impose limitations on the scope of authorized activities and/or the manner in which those activities are conducted, and if so, what those limits should be.

FT has more on why the Fed is conducting this request for comments:

The Federal Reserve cited recent disasters, including the BP oil spill in the Gulf of Mexico in 2010, as it sought comment on whether it should further limit banks in their physical commodities businesses. The regulator said on Tuesday it was examining whether to impose capital charges and increase insurance requirements on banks to restrict further their trading of physical commodities. In total, the Fed posed 24 questions in consideration of possible tougher restrictions.



The Fed asked questions about conflicts of interest, additional reporting requirements and further liquidity measures, among other issues. The deadline to comment is March 15. Banks can engage in the warehousing of physical commodities under rules governing complementary activities to bank operations, merchant banking regulations and a grandfather clause for bank holding companies. The grandfathering exemption applies to Goldman and Morgan Stanley to own assets such as oil tankers and power plants.



The Fed said it was studying the costs and other burdens to banks and to the public if it made such a move. It could go as far as eliminating the ability to engage in complementary commodities activities.

But it won't. Here is your chance to ask why, as well as have all other questions (un)answered.

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pods's picture

Haha, all I gotta do is post on ZH and those motherfuckers know exactly how I feel.


FEDbuster's picture

So let me get this straight, the Banksters whom own the FED want to know how the debt slaves on the plantation "feel" about all the fucked up shit they do?

Pinto Currency's picture


Tell Prime Minister Cameron how you really feel about gold price manipulation on the LBMA in London:

Pladizow's picture

All comments will be promptly ignored - why bother?

eclectic syncretist's picture

I don't give a shit about them trading PHYSICAL commodities,...what pisses me off is that the Fed allows them to PAPER TRADE PHYSICAL COMMODITIES.  Stop that, and close down the bucket shop system, you fucking crooks!

Sashko89's picture

That would be a good comment to post ;)

Pegasus Muse's picture

It will have the same effect as all those complaints filed with the CFTC about JPM manipulating the silver market. 

Nothing to see here, now move along ....

nope-1004's picture

Hey slaves.  Tell the overlords how you feel.  Is this Bernocchio's "transparency" gig?  Is Comedy Central looking for material?

This makes me fucking laugh.  Tell a thief who steals from you how you've been ripped off.... ya, that will get you far.

Nothing changes until they are hanging from light posts.  The banks are members of the FED you farcical transparent jerkoffs.... take your PR form and shuv it.


12ToothAssassin's picture

What is the result of 51 times 7.62 ?

Colonel Klink's picture

It's positive but definitely not enough times 7.62.  We'll need in the THOUSANDS if not millions.

NoDebt's picture

So, basically, the "authorities" are saying they don't know what the right answer is?  They're crowd-sourcing for ideas? 

I have no words left for this sort of stuff.  Mind-boggling idiocracy.

I guess we should all just be glad it wasn't our food supplies that JPM was 'warehousing'.  Trucks would be driving up and down every road in America stuffed to the gills with food while people starved in the streets.

Son of Captain Nemo's picture

"I guess we should all just be glad it wasn't our food supplies that JPM was 'warehousing'.  Trucks would be driving up and down every road in America stuffed to the gills with food while people starved in the streets."...

Don't give them any ideas.  At the rate they are moving they may be giving us a form for that as well.

ljag's picture


You might want to remove your panties for just a minute or two. I mean where else can you get moving targets with such a huge return...herd of elk maybe. Some meth head trucker is gonna defend his "load"? I don't think so

atomicwasted's picture

I don't care about them paper trading physical commodities.  I care about their naked shoting, meaning selling of physical commodities they don't own or haven't borrowed.

Zadok's picture

Logged and the ignored...until it is time to persecute!

LMAOLORI's picture



IT COULD BE A TRAP - If we actually told them how we feel we would probably be arrested. 


Four chan's picture

i took the opportunity, suggesting they should end themselves.

doctor10's picture

HehHeh An Auto-stimulated IRS Audit-Me form!!!Cute


Who says u can't F'yurself!!!

fonzannoon's picture

exactly pods...which is why if you would be so kind to provide them with your name and address....

pods's picture

<runs to adjust my Googlestat>

There.  Should be good now.


Hippocratic Oaf's picture

The banks are fucking rats. As soon as they monkey hammer phys or any other commodity, they front run and load up.....warehouse the shit and dare you to say something. The regs are too stupid or bought off. They give two fucks what we think.

I know some big bank guys....they all have denial. There's a special place in hell for these fucks, until then....they don't care. Banks can't make an honest buck in this environment.

disabledvet's picture

yep. once this stuff floods the market you'll see more than just prices correcting. Goldman sitting a 100 million tons of alumina? probably. "more than enough for a mass market Tesla." these folks are shooting themselves in the foot...creating a hoarding the West? Wow...great going.

sgorem's picture

100% correct pods. Fuck the fed. Fuck wall street. Fuck the government. Fuck bleeding heart "spend other peoples money" liberals. Fuck you 47+ers. And if the proverbial shoe fits........and don't let me to forget you too NSA, fuck you!

MeelionDollerBogus's picture

name me a politician who's a real conservative or real liberal... and while you're at it, one (no matter the alliance in the puppet-show) who doesn't want to spend everyone else's money.

frankTHE COIN's picture

You had me at " Tell Me your Social Number"

StychoKiller's picture

567-68-0515 (Nixon no longer needs it!)

slotmouth's picture

This form needs an "Off with their heads" checkbox.

carbonmutant's picture

We have to tell the FED how we feel because they have no moral compass of their own... What, are they collecting customer data? This is a fools errand.

Debtonation's picture

Dear Fed,

Fuck Off!

eclectic syncretist's picture

The banks manipulate commodities by PAPER TRADING them up or down.  Since the Fed prints them essentially free money they have turned commodities markets into modern day bucket shops.

SumSUN's picture

It's too bad the arrows aren't visible to everyone.

RaceToTheBottom's picture

You are very correct.  I wish the Up and DOWN Arrows were visible to all, just not accessible until you logged in. 

Sometimes I visit the site via an IPAD or other tablet and my login is long and therefore I just don't login.  On those times it would be nice to see the comment UP/Down arrows.

Nothing but the truth.'s picture

Dear Fed,

You have fucked up the entire US economy, impoverished the masses and sent the $ to the dogs, how about you tell your 

bankers to lay off with the paper shorting of precious metals. You are sorely mistaken if you believe that weak

manipulated PM prices will somehow resurrect the US dollar from total collapse. You have more headwinds on your 

hands than just PM prices - how about shorting something like the Renminbi or Bitcoin ?

eclectic syncretist's picture

Those motherfuckers are almost out of PHYSICAL gold to paper trade with, so they better get out there and start buying some before the house of cards implodes.

disabledvet's picture

they are actually. Only now is Jamie Dimon realizing just how collapsed the world market is. "free gold" basically. I agree...he should keep buying. they'll be no shortage of debt to be restructured here.

ebworthen's picture

Yes, I'm sure the Warden wants to know how the Prisoners feel about the food in the cafeteria.

If he asks us how the mashed potatoes and chicken croquets are it means he cares.


MeelionDollerBogus's picture

ESPECIALLY asking while taking a dump in the next pot brewing in clear line of sight of the inmates.

Fix-ItSilly's picture

lol!  These banks are the controlling shareholders of the Federal Reserve. 

Caggge's picture

A system set up by the Bank for the Bank. It's like the fox guarding the chicken coop. They knew people wouldn't stand for a Monarchy so they set up a hidden Monarchy.

Four chan's picture

the banks are the franchisees of the fed, who is owned by the rothschilds types.

frankTHE COIN's picture

McDonalds Employee Help Website with Hints is Jealous of this CopyCat.

alangreedspank's picture

"Hay guys, I lost my login info for teh FedWire system I we can't participate in the POMO this morning lulz!!11 I was told to contact yuo with this form for a password reset ??!1"

U4 eee aaa's picture

What? And get my name on yet another one of their lists? No thanks!

Jonas Parker's picture

Hell, I'm on so many of the Fed's lists, what difference does one more make?

tmosley's picture

"It just says "Dear Ben,", then it looks like someone spit on the paper".

Billy Sol Estes's picture

First Name: Harry

Middle Initital: O

Last Name: Cooter


dildo o flaherty's picture

failing fucking fed fag faceless fuckers feigning fucking futures for fun fiscal fortunes fucking falling...

floyd084's picture

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