The rape of America.

[SSSnail]

60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

 

[Vette73]

Yea I saw that. No new real info for me. I kept up with some of the info and saw the majority of oil futures went to people that never took delivery of it. All the demand we kept hearing about was never really there. In fact after prices went up a little demand started to drop. and so on...

The problem is as soon as more money gets back into the market oil will jump again. That and the middle east is cutting back a little as well. So unless soemthing is done then gas can get higher then it was before. I am kinda glad Obama and Dems have more power now and hopefully they have not been paid off like the republicans were for oil/broker houses.

 

[taltamir]

oh, from the "rape of america" I thought you were talking about the bailout plan

 

[BoomerD]

Originally posted by: taltamir
oh, from the "rape of america" I thought you were talking about the bailout plan

That just adds insult to injury...taking it from an "unnegotiated piece" to a gang rape...after all, once you've got the bitch knocked down and stuffing it in her ass, why not let everyone else have a turn?

The corporate rape of America continues.

 

[Slew Foot]

Originally posted by: taltamir
oh, from the "rape of america" I thought you were talking about the bailout plan

Same here.

Though the exact same thing happened to the housing industry and everyone cheered that one.

 

[charrison]

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

 

[BarneyFife]

Originally posted by: charrison

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

Do you go to magic shows and insist to everyone in the audience that they are really chopping someone in half?

 

[charrison]

Originally posted by: BarneyFife

Originally posted by: charrison

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

Do you go to magic shows and insist to everyone in the audience that they are really chopping someone in half?

Do you dispute that oil supplies rose during the oil spike(rig count went to record high) and demand dropped significantly(look at the average number of highway miles traveled in the US).

 

[Drift3r]

Originally posted by: charrison

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

Threats of Congressional investigation which could potentially lead to criminal trials?

 

[charrison]

Originally posted by: Drift3r

Originally posted by: charrison

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

Threats of Congressional investigation which could potentially lead to criminal trials?

or more supply which was forcing speculators to take deliverly of oil instead of selling their contracts to someone else....

 

[taltamir]

so, now that they speculated electricity, and speculated oil... whats next... natural gas?

 

[charrison]

Originally posted by: taltamir
so, now that they speculated electricity, and speculated oil... whats next... natural gas?

natural gas pretty much rose and feel on a similar path to oil. However we now know how to tap natural gas from shale formations, so natural gas is likely to stay low for a while.

 

[NoShangriLa]

Originally posted by: taltamir
so, now that they speculated electricity, and speculated oil... whats next... natural gas?

NG have been speculated just like everything eles. Recently I knew a stock broker that lost his shirt on NG futures trading.

 

[LegendKiller]

Originally posted by: charrison

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

They had to stop because the massive redemptions in the hedge fund industry, not to mention they just couldn't keep the scheme going in light of the failing economy.

As with the housing scheme, once the music stopped, they knew they would be left without a chair, so they all left the market.

Now there are many without a chair, so they're storing oil in massive tankers, praying it'll go up enough so they don't lose all of their money.

It was all a big fucking joke.

As evidenced by this...

http://www.washingtonpost.com/...R2008082003898_pf.html

 

[sandorski]

De-Regulation strikes again. I wonder if all those Bankers/Investors who lied before Congress will have to face some music?

 

[taltamir]

Originally posted by: NoShangriLa

Originally posted by: taltamir
so, now that they speculated electricity, and speculated oil... whats next... natural gas?

NG have been speculated just like everything eles. Recently I knew a stock broker that lost his shirt on NG futures trading.

sorry, i meant "created and bursted a bubble"... speaking of which... so was the housing... we have a lot of bubbles recently.

 

[frostedflakes]

Originally posted by: Marlin1975
Yea I saw that. No new real info for me. I kept up with some of the info and saw the majority of oil futures went to people that never took delivery of it. All the demand we kept hearing about was never really there. In fact after prices went up a little demand started to drop. and so on...

The problem is as soon as more money gets back into the market oil will jump again. That and the middle east is cutting back a little as well. So unless soemthing is done then gas can get higher then it was before. I am kinda glad Obama and Dems have more power now and hopefully they have not been paid off like the republicans were for oil/broker houses.

With a stronger Democratic majority in Congress, we may actually be able to get some legislation pushed through to help curb rampant speculation. There were some bills being pushed through during the summer, but they got held up by the Republicans.

 

[taltamir]

Originally posted by: BoomerD

Originally posted by: taltamir
oh, from the "rape of america" I thought you were talking about the bailout plan

That just adds insult to injury...taking it from an "unnegotiated piece" to a gang rape...after all, once you've got the bitch knocked down and stuffing it in her ass, why not let everyone else have a turn?

The corporate rape of America continues.

eloquently put... bailout, the gangrape of america, a followup to the regular rape.

 

[taltamir]

Originally posted by: frostedflakes

Originally posted by: Marlin1975
Yea I saw that. No new real info for me. I kept up with some of the info and saw the majority of oil futures went to people that never took delivery of it. All the demand we kept hearing about was never really there. In fact after prices went up a little demand started to drop. and so on...

The problem is as soon as more money gets back into the market oil will jump again. That and the middle east is cutting back a little as well. So unless soemthing is done then gas can get higher then it was before. I am kinda glad Obama and Dems have more power now and hopefully they have not been paid off like the republicans were for oil/broker houses.

With a stronger Democratic majority in Congress, we may actually be able to get some legislation pushed through to help curb rampant speculation. There were some bills being pushed through during the summer, but they got held up by the Republicans.

it was democrats who deregulated housing causing its bubble... and opposed republicans who tried to regulate it. Democrats =! regulation.

 

[charrison]

Originally posted by: LegendKiller

Originally posted by: charrison

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

They had to stop because the massive redemptions in the hedge fund industry, not to mention they just couldn't keep the scheme going in light of the failing economy.

As with the housing scheme, once the music stopped, they knew they would be left without a chair, so they all left the market.

Now there are many without a chair, so they're storing oil in massive tankers, praying it'll go up enough so they don't lose all of their money.

It was all a big fucking joke.

As evidenced by this...

http://www.washingtonpost.com/...R2008082003898_pf.html

Yes the bubble was formed and popped for many reasons.

 

[LegendKiller]

Originally posted by: charrison

Originally posted by: LegendKiller

Originally posted by: charrison

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

They had to stop because the massive redemptions in the hedge fund industry, not to mention they just couldn't keep the scheme going in light of the failing economy.

As with the housing scheme, once the music stopped, they knew they would be left without a chair, so they all left the market.

Now there are many without a chair, so they're storing oil in massive tankers, praying it'll go up enough so they don't lose all of their money.

It was all a big fucking joke.

As evidenced by this...

http://www.washingtonpost.com/...R2008082003898_pf.html

Yes the bubble was formed and popped for many reasons.

Not "many" reasons. As shown in the link, ONE speculator held 11% of the contracts trading in the market. They weren't holding them for delivery, but for speculation. Creating that much demand, out of thin air, WILL drive prices up.

 

[jackschmittusa]

The price of oil fell when many speculators took a bath with the banks going to hell. Many had huge margin calls and needed cash immediately. A lot of speculators were institutional and had large daily cash obligations that could no longer be met with interest and dividends. Billions were taken from oil speculating almost overnight. Falling consumption simply added to the panic.

 

[charrison]

Originally posted by: LegendKiller

Originally posted by: charrison

Originally posted by: LegendKiller

Originally posted by: charrison

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

They had to stop because the massive redemptions in the hedge fund industry, not to mention they just couldn't keep the scheme going in light of the failing economy.

As with the housing scheme, once the music stopped, they knew they would be left without a chair, so they all left the market.

Now there are many without a chair, so they're storing oil in massive tankers, praying it'll go up enough so they don't lose all of their money.

It was all a big fucking joke.

As evidenced by this...

http://www.washingtonpost.com/...R2008082003898_pf.html

Yes the bubble was formed and popped for many reasons.

Not "many" reasons. As shown in the link, ONE speculator held 11% of the contracts trading in the market. They weren't holding them for delivery, but for speculation. Creating that much demand, out of thin air, WILL drive prices up.

Yes it will. But that one speculator was only able to do that because supply was tight and could keep turning over the contract without having the take delivery. Once supply and demand came back into equalibrium, flipping the contracts was no longer an option so they money left that market.

 

[LegendKiller]

Originally posted by: jackschmittusa
The price of oil fell when many speculators took a bath with the banks going to hell. Many had huge margin calls and needed cash immediately. A lot of speculators were institutional and had large daily cash obligations that could no longer be met with interest and dividends. Billions were taken from oil speculating almost overnight. Falling consumption simply added to the panic.

Exactly. Since they were facing massive margin calls in many other assets, the best way to get out was to sell the most liquid assets, stocks and commodities.

The "demand" side of the equation was a phantom demand.

 

[DealMonkey]

Originally posted by: charrison

Originally posted by: SSSnail
60 Minutes segment on oil and speculations.

I just can't imagine the day we'll have governmental oversight over commodities (again). Free market? Yeah, right...

Edit: Oh, and you "supply and demand" guys? Go douse yourselves in oil and smoke a cigarette.

Well why on earth did the speculators allow oil to go all the way down $40 a barrel. Did they get tired of raping us?

The reality is there was speculation in the oil market, but they were only able to drive prices up because supply was so tight. Prices went up, more supply came online, demand dropped and prices plummeted. It really is that simple.

Fighting for a supply/demand excuse for oil prices all the way to the end, eh? Somehow, I think a mountain of evidence could fall on you, and you'd still continue to spew on and on about it.