We need to find a fairer way of providing Goods and Services to the rest of the people on Earth.Cryptocurrencies and/or Gold Standard of money....maybe the answer to fight hyperinflation caused by too much printing of paper/fiat currencies by Governments and Central Banks all over the World. (https://www.google.com/+EricAu118)
This was done in an attempt to reduce speculative forces that were responsible for most of the recent gains.
It’s clearly been effective, with the carnage seen today underlining just how much of a casino these markets have become.
A spike in short-dated Chinese interest rates could also have exacerbated the price declines with 14-day bond yields hitting the highest level seen since March.
“There’s a liquidity crunch in China so that’s not good for commodities in China,” Helen Lau, analyst at Argonaut Securities, told Reuters. “The speculators and retail investors have big (long commodity) positions, so the swings in prices are amplified.”
Dalian May 2017 Iron Ore Future. Source: Thomson Reuters Eikon