......by law, it's illegal to buy crude futures in U.S.......

Discussion in 'Chit Chat' started by apitrader, Jun 27, 2008.

  1. By law, it's illegal to buy crude futures in U.S. without refinery complex in your yard.

    Congress should work on it.

    Crude sinks sub-$100 overnight.

    Dow rallies 5000 pt.
  2. That's ridiculous....

    What about freedom and choice?
  3. freedom on what?
    have any clue if crude stays here for another 3 months, how many companies have the freedom and choice to fire you freedom genius?
  4. piezoe


    It's also ridiculous because high crude prices are a symptom of a flawed economy, not the reason for inflation,devaluation, and financial and building-real-estate sectors meltdown.

    The US economy has two diseases at the same time, though they are related in a very curious way. Different medicines are needed specific for each disease. To cure a disease you have to understand the cause. Treating the symptoms helps you feel better but is only temporary if the disease rages on.
  5. I know as a fact...if you want to import Crude...
    You have to have a refinary number

    so that necessarily is not a bad idea to say you need a refinary number to be able to take inventory on your "trade"

    i do trade the USO..but a lot of people i know are now LONG USO's.... and by that trade alone... they are NET LONG oil

    its just like a stock...supply and demand...if people are buying stocks...and not selling...they stock goes up

    if you require refinary numbers to trade oil... oil would tank 30-40 bux ...but market would rally like 2k points (back to where we were in March before this Lower low that was caused by oil and uncertainty on inflation)

  6. jd7419


  7. Freedom just as a principle... similarly as those freedoms established by the Bill of Rights. Considering we live in a "free" economy, we should have the right to choose what stocks, bonds, commodities, currencies, etc. we can invest or speculate in. In a "free" economy you can't artificially control the demand/supply for anything, particurarly a commodity. Setting up this or any price limits would set a horrible precedent for the future.

    Futhermore, just because America is the largest user of crude oil doesn't mean it can attempt to set prices. You don't need American money to try to manipulate this market. How is the American government going to stop speculation from other world governments (China/India/Brazil) and those Russian hedge funds and else where. Your not going to stop speculation, if it is in the U.S. alone.

    I'm all for lower gas prices, but preventing Americans from speculating is ridiculous.
  8. PaulRon


    what you dont understand is that increased regulation means <b>higher prices</b>

    the government can't fix this they can only make it worse
  9. Who could imagine there were so many people on a traders' board who were against trading in principle? Can they all be trolls from Obama HQ or the DNC? I suppose a certain amount of ignorance is to be expected from people who think banning bonfires, cookouts and lawn mowers will prevent global warming. Whatever....
  10. Wont Get Fooled Again

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    #10     Jun 27, 2008