Melissa our top story tonight, and report Goldman Sachs is making billionat the expense of consumers by playing a shell game with aluminum. The investment banis sitting on a massive horde of aluminum shifting it from warehouse wahouse delaying shipments to customer to drive up the price we pay for everyday products. It could cost us, the conmer, 325 billion over the next several years. Maybe legal, still irritating come expensive. It is all the word on wall street. I want to start with you, because i wa to explain to our audience the mechanics of how this is happening. This is aluminum it purchased on the exchange in london. Goldman sachs bought the company that owns the warehouse that stores all this. They bought the storage facility. It means when somebody Takes Delivery of aluminum, it is stored in this warehouse. It is reported the wait time has gone from just s six weeks to nw 16 month. As a result, that drives up the ice, they are collecting rent on this,ustomers are making money
And lots of financial incentives dagen you get suspended and come and go. Stocks now and every 15 minutes. Nicole we are taking a look at the market. Yesterday there was a twopoint game. As i noted, we have had some backandforth action. The tech heavy nasdaq is still under pressure. We are seeing financials doing well. Names like travelers and United Technologies have had some moves. Continuing to watch names like netflix. The u. S. Dollar has changed direction. Gold has pulled back since yesterday. The major market averages are mixed at the moment. Back to you. Connell what about bonds . Our first guest has some very clear advice. Sell them. Sell them right now. With us from chicago is the vice chairman of ariel investments. We like clarity. If you look back at the history, if you go back to the 1800s, we have only had one period of time where Interest Rates were lower than where they have been recently. Obviously, Interest Rates have gone up to 2. 5 . Interest rates have been artific
Find out who it is. Even when they say its not it is always about money melissa we brought it to you first last n night, allegations that Goldman Sachs is jacking up Aluminum Prices by moving price supplies among Storage Facility as and delaying shipments to increase demand. The reason this matters, cost of things you buy that contain aluminum, st think about it, are costing more than they should every time you do it. What Goldman Sachs is doin is legal. Businesses dealing with aluminum, beer makers and others are speaking about what it all means. Joining me on the phone in a fox business exclusive, nick madden, Senior Vice President of the Aluminum Manufacturing company novellus. Welcome to the show. Miller says global Aluminum Prices were inflated 3 billion over the past year. Does that number sound right to you . Thank you, melissa. Thanks for the opportunity to speak with you. I think that is indeed a reasonable for the exces premiums paid today. Melissa how do you respond to that
Moving forward. Cenk oh, we got to hell of a show for you tonight. Do you know who carlos danger is . If you dont look up on twitter. He might be coming for you. Were going to explain how Anthony Wiener has a double permanent name carlos danger in just a minute. Later on the program you think anthony weeper is bad, wait until you get a load of the democratic mayor in san diego. He literally puts women in a head lock. Unbelievable speaking of unbelievable, Anthony Wiener, despite a whole new scandal is going to stay in the race for mayor of new york. Now, if you havent heard yet he apparently sent texts and tweets and phone calls and many other things, including his junk to women after he resigned from office. In fact, a year after he resigned from office. So today he had to do a press conference at 5 00 east he were. This is part of what he said. Im prepared not to dispute anything that is out there but suffice it to say that people are out there saying things that are that are not tru
Find out who it is. Even when they say its not it is always about money melissa we brought it to you first last night, allegations that Goldman Sachs is jacking up Aluminum Prices by moving price supplies among Storage Facility as and delaying shipments to increase demand. The reason this matters, cost of things you buy that contain aluminum, just think about it, are costing more than they should every time you do it. What Goldman Sachs is doing is legal. Businesses dealing with aluminum, beer makers and others are speaking about what it all means. Joining me on the phone in a fox business exclusive, nick madden, Senior Vice President of the Aluminum Manufacturing company novellus. Welcome to the show. Miller says global Aluminum Prices were inflated 3 billion over the past year. Does that number sound right to you . Thank you, melissa. Thanks for the opportunity to speak with you. I think that is indeed a reasonable for the excess premiums paid today. Melissa how do you respond to tha