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Intresting......indexing West Texas Intermediate to Gold. Never even thought of that correlation. Thx WH.
Intresting......indexing West Texas Intermediate to Gold. Never even thought of that correlation. Thx WH.
http://www.mcclatchydc.com/2012/02/2...hether-to.htmlA federal judge on Monday refused to halt efforts by a key regulator to limit excessive speculation in the trading of oil contracts — which is driving up oil and gasoline prices — but hinted that he might soon rule in favor of Wall Street and let speculation go unchecked.
Robert Wilkins, a judge on the U.S. District Court for the District of Columbia, declined a request for a preliminary injunction to halt the Commodity Futures Trading Commission from implementing a congressional mandate to limit how many oil contracts any single financial speculator or company can control.
However, Wilkins told both the CFTC and lawyers for the Securities Industry and Financial Markets Association and the International Swap and Derivatives Association that he expected to make a ruling soon on whether to hear the case. His line of questioning left both sides with the impression that he was concerned about how the regulatory agency has proceeded.
Last edited by Winehole23; 02-28-2012 at 02:53 PM.
I expect the oilco/coalco/Wall ST CEO/CFO are influencing/directing traders to stall/reverse any recovery to make re-election harder or impossible.
They all want the n!gga gone and their boy Willard Gecko in.
btw, Kock Bros have a commodity trading operation.
btw...so does George Soros.
:facepalm.
Commodity market speculation is okay for those who have "acceptable" political affiliations. Koch = bad. Soros = good.
if you guys really think Soros can out-speculate the rest of Wall St, you are s.
He did pretty damn good on the pound a few years back. As I recall he made about a billion dollars in one week and in the markets, anytime someone wins big there is usually losers of an equal and opposite magnitude.
Last edited by CosmicCowboy; 02-28-2012 at 03:57 PM.
ing idiot.
http://commodityhq.com/2011/three-le...ity-investors/
2. George Soros
George “The Man Who Broke The Bank Of England” Soros is most famous for his extremely controversial bet against the British pound in the early 90′s which yielded him over $1 billion in just one week, as the pound plummeted. In fact, the U.K. Treasury estimated that on the fateful “Black Wednesday”, Soros cost the country over 3.4 billion in pounds. Soros, age 81, is an alma mater of the London School of Economics and got his start as an arbitrage trader among other jobs before eventually forming the Quantum Fund with Rogers. As the founder of Soros Fund Management, Soros has been most famous for his currency bets through out the years though he does have a soft spot for one hard commodity [see also Three Reasons Why Gold Is Overvalued].
Soros has been a major proponent for gold through out the years and with the assets he has poured into the elusive metal, he makes the list as a legendary commodity investor. Soros had major stakes in the SPDR Gold Trust (GLD) for a long period of time before recently declaring that asset class to be bubbled. Shortly after this statement, Soros dumped a number of gold assets in the first quarter of 2011, totaling to nearly $800 million. While he lost faith in gold itself, Soros did up his stake in Barrick Gold (ABX) as he clearly feels that the best way to currently play this “bubbled” asset class is through the mining space rather than direct commodity exposure [see also 50 Ways To Invest In Gold].
there's a difference between somebody like a Soros speculating to make money and an industry speculating to hurt an economic recovery to get their 1% tool elected.
Right. When Soros speculated his way to a $20+ billion dollar personal fortune he was only looking out for the little guy. Alas, his noble efforts were no match for those evil Wall Street speculators.
That's quite the fairy tale you've concocted for yourself.
Right. When Soros speculated his way to a $20+ billion dollar personal fortune he was only looking out for the little guy. Alas, his noble efforts were no match for those evil Wall Street speculators.
That's quite the fairy tale you've concocted for yourself.
I'm sure the 3.4 billion pounds he shook Great Britain down for was just lying around and certainly wasn't needed for anything.
Where will boutonski move the goal posts to now?
If I'm having trouble figuring out which speculators are just trying to make an honest billion (which is now boutons-endorsed as being okay) and which ones are trying to hurt people, am I going to need to know which political party a particular speculator is giving loads of money to?
I have posted in another thread that speculation in commodities like oil and food should internationally forbidden, so I don't endorse anybody speculating in them.
But speculating on the currencies people use to buy commodities like oil and food is okay though.................
you said that, I didn't.
Okay, so say that it isn't.
I don't take dictation.
I'm not asking you to take dictation. I'm asking you to take a side.
you want a side?
all commodities trading must be regulated and transparent. All speculation (traders buying who never intend to take delivery) should be forbidden
Some commodities cause economies to crater, Ms to lose their jobs, and people to die (from civil unrest and starvation), should be extremely tightly regulated.
Ben "Horse's Ass" Nelson abuses the intent of the tax code and puts 2 cows on his prime property to be taxed at agricultural rate and save $Ms.
USDA runs CFTC because it was originally intended for farmers to hedge against poor crops.
Then the Wall St assholes got in and ed it all up, to their immense profit, of course.
You left out Soros..... lol
Of course he did.
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