Speculators may finally lose out

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Jimmy9190

Jimmy9190

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I know it's an internet article that may or may not be completely true or 100% accurate but it gives me a slight hope things may get better:

http://news.yahoo.com/s/ap/20110412/ap_on_re_us/oil_prices#mwpphu-container

I am hoping and praying the oil industry fat cats, traders, et al will finally decide they have made enough profit and end their tactics so prices might one day in the not too distant future get back to a normal and more manageable level for everyone.

It stikes me as funny that one of their own, a suit from Goldman Sachs had to say something about oil supply before the prices finally started an earnest downward trend.
 
Quote:
I am hoping and praying the oil industry fat cats, traders, et al will finally decide they have made enough profit and end their tactics


Enough profit? What's that? For these corporate "leaders" it's never enough!
mad.gif
mad.gif


John
 
Originally Posted By: John_K
Quote:
I am hoping and praying the oil industry fat cats, traders, et al will finally decide they have made enough profit and end their tactics


Enough profit? What's that? For these corporate "leaders" it's never enough!
mad.gif
mad.gif


John


+1


Unless something major happens, prices are going to keep going up. I doubt there will be a "huge drop" like last time.
 
The big players (wall street investment banks/Goldman Sachs/JP Morgan) are simply profit taking and shorting on the back end of this latest rally. Like they all weren't on the phone saying lets short oil...
 
I'm expecting that prices will continue to climb until Memorial Day and not drop until after Labor Day. Summertime drive season, ya know.
 
Originally Posted By: Jimmy9190
It stikes me as funny that one of their own, a suit from Goldman Sachs had to say something about oil supply before the prices finally started an earnest downward trend.


My guess is that GS is probably trying to ride it down now, by going short.
 
Originally Posted By: John_K
Quote:
I am hoping and praying the oil industry fat cats, traders, et al will finally decide they have made enough profit and end their tactics


Enough profit? What's that? For these corporate "leaders" it's never enough!
mad.gif
mad.gif


John


+1 - These idiots can't earn enough money at the expense of the economic recovery of the world. Never mind the fact that it was the mortgage speculators that caused the current economic collaps! I for one am tired of getting it stuck to me by EVERYONE as often as they can.
mad.gif
 
It isn't the money they want it is control. They already have all the money. One of the biggest reasons our gas prices and everything else are going up is due to the collapse of the dollar. The dollar goes down the prices go up. It's that simple.

The dollar really isn't the world's reserve currency anymore. No one wants it. It is now worthless. It is only being propped up by "quantitive easing" and other scams to keep the charade going.

Those who invest in oil aren't the cause of the prices. It is those who control the supply who are making all the money since they can invest on the low end just before they drive the prices higher.

Since they can get bailouts and just print up whatever money they need it's pretty easy to make lots of money on the down AND the up side in any market. Not just oil. They never lose since we pay for their losses when they lose. The big banks and investment banks like Goldman have been doing this for decades. The average investor is just a cling-on.

The only speculators out there are Joe and Mary Lunchbox. The people who actually rig the markets and control the oil supply don't need to "speculate" on anything and they laugh all the way to their own bank.
 
Originally Posted By: Shagger
Originally Posted By: John_K
Quote:
I am hoping and praying the oil industry fat cats, traders, et al will finally decide they have made enough profit and end their tactics


Enough profit? What's that? For these corporate "leaders" it's never enough!
mad.gif
mad.gif


John


+1 - These idiots can't earn enough money at the expense of the economic recovery of the world. Never mind the fact that it was the mortgage speculators that caused the current economic collaps! I for one am tired of getting it stuck to me by EVERYONE as often as they can.
mad.gif



It wasn't speculators that created the housing bubble and collapsed it. It was government run Fannie and Freddy who owns almost every mortage in the country now. Fannie and Freddy told the lenders they would pick up the tab if the loan wasn't paid the only problem is, WE are Fanny and Freddie so anyone here that can't afford a house should be happy to know they already are paying for one. They just can't live in it.

The housing market was fueled by corruption on the part of congress who passed laws labeling lenders racists if they didn't give $500,000 home loans to someone who obviously couldn't ever afford to pay the loan back. The Community Reinvestment Act of 1977 was the legislation that was used to start all of it.

When literally ANYONE can get in debt for a house that will drive up the prices until all of the sudden the people that took out a loan for them stop making their payments because their job was offshored or they couldn't afford to get to work because the gas prices went to $4.50 a gallon and food prices rose. OR, they couldn't afford a house to begin with. Then the taxpayer gets to pick up the tab as we have seen which of course will eventually put us ALL in the poor house.

Being born doesn't entitle anyone to a new house. But to buy votes legislation was passed so certain individuals could that never should have. Now we all pay.
 
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