I don't know which is more frustrating -- not knowing what is going on or knowing and not being able to do anything about it.
"The aluminum we are purchasing is being held up in warehouses controlled and owned by U.S. bank holding companies, who are members of the London Metal Exchange and set the rules for their own warehouses." This testimony from a U.S. beer company representative to the U.S. Senate, explained that two American banks control most of the aluminum produced in this country by warehousing the commodity to protect their price increases, which are significant.
Back to the frustrating part. Would it not seem that cornering a major market commodity, such as aluminum, might be a violation of the Sherman Antitrust Act? But why should Congress do its job? Taking action might cost them a campaign contribution or future lobbying position.
The sad thing is we still have time to do something, but nobody seems to know what to do. A recently published poll found that 65 percent of the American people would like to replace every member of Congress. So actually, we do know what to do. But for that to happen, the 65 percent would need to elect a new Congress. We need representatives who will act in our interest, not the banks, oil companies, commodity producers, industry, and most of all, our two political parties, both of which have sold us out.
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