"As it has presently 1.5 million tons, or a measly 3% of global production, in its warehouses and there are 365 days to a year, by my figuring Goldman's annual revenues purely from storing aluminium total about $255 million before expenses," according to Lenzner.
"Goldman admits a percentage of the aluminum is being stored by financial interests like speculators, traders and hedge funds, who have been kicked in the chops by the sharp decline in the value of their aluminium during the general decline in most commodity prices," says Lenzner.
However, Goldman Sachs "won't reveal how much the traders own versus the industrial interests."
