In 1980, the Hunt brothers, Nelson Bunker and William Herbert, attempted to corner the silver market, leading to one of the most significant market crashes in history. The Hunt brothers, who inherited their father's oil business, were known for their wealth and influence in the commodities market. They believed that the US government's decision to increase interest rates and allow the dollar to appreciate would lead to inflation and a rise in silver prices.
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In 2003, one of the biggest financial scandals in Italian history came to light when Parmalat, the country's largest dairy company, collapsed. The scandal involved a massive fraud scheme that had been going on for years, involving fake accounting, embezzlement, and false statements to investors. The Parmalat scandal shook the Italian economy and led to widespread public outrage.
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In 2006, a toxic waste scandal rocked the Ivory Coast. The incident involved the dumping of toxic waste by the multinational oil trading company, Trafigura, which resulted in the death of at least 17 people and caused thousands of others to suffer from health problems. The scandal has been the subject of numerous investigations, court cases, and media coverage, and continues to be a source of controversy and debate.
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Commodity originators are an integral part of the commodity trading industry. They are responsible for sourcing raw materials from various locations around the world and ensuring that they are delivered to their destination on time and at the right price. The job of a commodity originator requires a deep understanding of the market, as well as a keen eye for detail and strong negotiation skills.
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Commodity merchants play a significant role in the global economy. They are responsible for buying and selling raw materials and goods, including agricultural products, energy, and metals. The job of a commodity merchant is to create value by identifying profitable opportunities in the market and managing risks associated with trading.
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