http://theeconomiccollapseblog.com/archives/is-glencore-the-next-lehman-the-worlds-largest-commodities-trading-company-is-toast
Are we about to witness the most important global financial event
since the collapse of Lehman Brothers in 2008? Glencore has been known
as the largest commodities trading company on the entire planet, and at
one time it was ranked as the 10th biggest company in the world. It is
linked to trillions of dollars of derivatives trades
globally, and if the firm were to implode it would be a financial
disaster unlike anything that we have seen in Europe since the end of
World War II. Unfortunately, all signs are pointing to an inescapable
death spiral for Glencore at this point. The stock price was down
nearly 30 percent on Monday, and overall Glencore stock has plunged
nearly 80 percent since May. There are certainly other candidates for
“the next Lehman” (Petrobras and Deutsche Bank
being two perfect examples), but Glencore has definitely surged to the
front of the pack. Right now many analysts are openly wondering if the
firm will even be able to survive to the end of next month.
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