Oil speculation.
Joined: Sep 2006
Posts: 1,984
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From: N.E. Wisconsin
Oil speculation.
Watching 60 Minutes tonight & just what most of us thought turns out to be true.
Speculation & the futures markets were responsible for our outrageous gas prices last summer. Apparently hedge funds, big banks & investment firms (like Wachovia, Morgan Stanley, AIG, Lehman Bros.), you know, the folks we bailed out with our three quarter's of a trillion dollars (I like it better when it's 'written' out: $750,000,000,000), traded heavily in oil futures. I know I always thought it suspicious that, as soon as the economy went south, so did the price of gas.
And, what makes this more fun is that our Federal regulators have no access to any of this information because these futures are traded in secret.
Thanks to Enron & our always lovable Congress we've had our futures markets completely deregulated.
I think what pisses me off the most about this is that feeling of complete helplessness; we can't do anything about the price of gas nor about the futures market nor, for that matter, the bailout money! Getting into futures requires a sum of money I certainly will never obtain so I can't even do anything about it via the back door.
Speculation & the futures markets were responsible for our outrageous gas prices last summer. Apparently hedge funds, big banks & investment firms (like Wachovia, Morgan Stanley, AIG, Lehman Bros.), you know, the folks we bailed out with our three quarter's of a trillion dollars (I like it better when it's 'written' out: $750,000,000,000), traded heavily in oil futures. I know I always thought it suspicious that, as soon as the economy went south, so did the price of gas.
And, what makes this more fun is that our Federal regulators have no access to any of this information because these futures are traded in secret.
Thanks to Enron & our always lovable Congress we've had our futures markets completely deregulated.
I think what pisses me off the most about this is that feeling of complete helplessness; we can't do anything about the price of gas nor about the futures market nor, for that matter, the bailout money! Getting into futures requires a sum of money I certainly will never obtain so I can't even do anything about it via the back door.
Senior Member
Joined: Mar 2008
Posts: 8,500
Likes: 1,126
From: St Louis MO
Re: Oil speculation.
Originally Posted by Kurts
Watching 60 Minutes tonight & just what most of us thought turns out to be true.
Speculation & the futures markets were responsible for our outrageous gas prices last summer. Apparently hedge funds, big banks & investment firms (like Wachovia, Morgan Stanley, AIG, Lehman Bros.), you know, the folks we bailed out with our three quarter's of a trillion dollars (I like it better when it's 'written' out: $750,000,000,000), traded heavily in oil futures. I know I always thought it suspicious that, as soon as the economy went south, so did the price of gas.
And, what makes this more fun is that our Federal regulators have no access to any of this information because these futures are traded in secret.
Thanks to Enron & our always lovable Congress we've had our futures markets completely deregulated.
I think what pisses me off the most about this is that feeling of complete helplessness; we can't do anything about the price of gas nor about the futures market nor, for that matter, the bailout money! Getting into futures requires a sum of money I certainly will never obtain so I can't even do anything about it via the back door.
Speculation & the futures markets were responsible for our outrageous gas prices last summer. Apparently hedge funds, big banks & investment firms (like Wachovia, Morgan Stanley, AIG, Lehman Bros.), you know, the folks we bailed out with our three quarter's of a trillion dollars (I like it better when it's 'written' out: $750,000,000,000), traded heavily in oil futures. I know I always thought it suspicious that, as soon as the economy went south, so did the price of gas.
And, what makes this more fun is that our Federal regulators have no access to any of this information because these futures are traded in secret.
Thanks to Enron & our always lovable Congress we've had our futures markets completely deregulated.
I think what pisses me off the most about this is that feeling of complete helplessness; we can't do anything about the price of gas nor about the futures market nor, for that matter, the bailout money! Getting into futures requires a sum of money I certainly will never obtain so I can't even do anything about it via the back door.
Who made the money?
roadster with a stick
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