Godlike Productions - Discussion Forum
Users Online Now: 1,406 (Who's On?)Visitors Today: 194,786
Pageviews Today: 252,296Threads Today: 54Posts Today: 892
01:59 AM


Back to Forum
Back to Forum
Back to Thread
Back to Thread
REPORT COPYRIGHT VIOLATION IN REPLY
Message Subject I hate to give you more doom and gloom, but...
Poster Handle Anonymous Coward
Post Content
The problem is NOT OPEC. The problem is our stock market and a handful of speculators who are bankrupting the rest of us while they roll in the dough. I wonder if they have even considered that their money and gold will be worthless if everything falls. They have the farthest to fall. Some of them will jump out of their office windows when it goes down. I will be cheering them on. May they die paupers for what they are doing to us!


I posted an article yesterday that explains how investment firms and banks, are buying oil contracts TO HOLD, as the price goes up they can note it as collateral to cover their losses in CDO's. That's what's really going on. Oil contracts are going up because everyone is buying AND NO ONE IS SELLING. They need the figures to disguise their losses.
 Quoting: Anonymous Coward 461859



NEW YORK (MarketWatch) -- Abdalla Salem el-Badri, secretary general of the Organization of the Petroleum Exporting Countries, on Wednesday reiterated the cartel's position that record oil prices are mostly the fault of speculators. "70% of crude contracts on the Nymex are held by speculators...Some form of regulation is needed," el-Bradri said at the World Petroleum Congress in Madrid, according to press reports. Tighter regulation should apply not only for oil but other commodities, he said. "The market has no shortage of physical crude," said el-Badri, who added that supply is currently higher than demand.
 
Please verify you're human:




Reason for copyright violation:







GLP