hidden motives by glencore, page-7

If you have a quick glance at the CDS market there is quite a high premium being paid for Glencore exposure.

This suggests that the is an extraordinary amount of money out there suggesting Glencore may not survive the current economic regime.

Their main bankers, such as UBS, have had their resoective toe nails chopped. As to being a traditional credit risk, Glencore would scare the 'bejeezus' out of you. Assets are written off the same year they are acquired-for Swiss tax purposes. Net means sweet bu..er all on the asset side of the ledger.

In addition, the rapid drop in LME Base Metal Prices at the end of September caught them out and would have hurt them big time. See the way they put the boots into CUO and the other Little QLD copper producer-Matrix to recover Quotation Period pricing.

Glencore is obviously under financial pressure and this may be an alternate argument as to what Craig Williams was suggesting.

Never deal with Glencore IMO.

Cheers,TAS