Word: copperizing
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...were in castles like Neuschwanstein in Bavaria. The Veit Stoss altarpiece [a 15th century three-story wooden altarpiece and Polish national treasure] was in a tunnel in Nuremburg. The Nazis built false walls into castles. The mining system in Germany is extensive, so they also hollowed out salt and copper mines and built racks all the way around...
...they signed their new mortgage. "I make people happy all day with foreclosures. Now I want to be happy too," she says. The new house, like so many she deals with, was trashed by the previous owners, who were angry at being foreclosed on. The doorknobs, hinges and copper wiring were stolen, as were the appliances and carpet. The owners even left their dogs behind. (Abandoned pets have become a huge problem for local shelters.) "You couldn't walk into that house without holding your nose to keep you from vomiting," Boemio says. She and her husband had to spend...
...northeast, however, something is growing that could change that. Some 100 miles upstream is the proposed site of what would be one of the largest mines in the world. The Pebble Mine, if it goes forward, could produce copper and gold worth more than $300 billion at current market prices. But opponents say its development poses a toxic threat to Bristol Bay's rich fishing grounds - and to a way of life that dates back centuries. "There's a whole lot of land and water in harm's way," says Chesley, a salmon fisherman when he's not flying charters...
...equivalent of $224 billion, more than double the previous month's lending. The total amount of money that banks have loaned thus far in 2009 already exceeds the total amount loaned for all of last year. Speculative froth in China's financial markets abounds. Long-futures interest on copper contracts on the Shanghai Metals Exchange - bets that the price of copper will continue to rise - recently exceeded the total amount of copper delivered into China in 2008. Research Edge's Barber believes Beijing is buying current growth at the expense of the future. Politically, he acknowledges, Beijing's leadership...
Uncertainty about the economic recovery was also reflected in commodity markets, which sold off broadly on June 15. China is believed to be stockpiling a range of raw materials, notably copper, which has driven prices dramatically higher in recent months. But ubiquitous weakness in global demand is now taking a toll. The Reuters-Jeffries CRB commodity index fell 2.25% during the day. Gold prices dipped slightly, down $11 per ounce, but stocks of precious-metals companies were hammered, declining more than 7% on average...