To paraphrase the head of the LME during this episode, it’s a market, not a casino. It serves a real, social purpose: move metal from producers to users, and m

To paraphrase the head of the LME during this episode, it’s a market, not a casino. It serves a real, social purpose: move metal from producers to users, and move risk to those who can bear it. The rules and structures of the exchange are a human system built in to achieve that purpose. If the rules have a weird interaction with world events and threaten entire artifice, they should suspend the rules.