Goldman explains concept of queueing
Disingenuous to the point of deceit.When a lot of customers want to get their property out of the warehouse at the same time, a line forms…Although Goldman is ready to swap you if you don’t like queueing in the LME warehouse system. Statement’s here. This is how it ends:
1 Supportive of Recent LME Proposal to Reduce Queues. Goldman Sachs supports the intent of the recently proposed rule change by the LME that will cut existing queues and prevent new queues from forming by increasing substantially the amount of daily net outflows of metal at large LME locations.
2 Priority System for Consumers. While more than 95% of the aluminum that is used in manufacturing is sourced from producers and dealers outside of the LME warehouse system, consumers should not have to wait unusually long times to get the metal they store in warehouses. We suggest that the LME establish a system to prioritize consumers so that they always have access to a minimum load out rate for end users. Today, all customers in the queue are treated equally on a first in, first out basis....MORE