Free Market except when... The more the powers to be intervene and artificially fix markets, bail out companies, pick winners and losers the less freedom we have.
This is a harbinger of things to come. Soon it won't be just oil that's shooting up, but food stuffs, meat, industrial metals, transportation etc. The fucking idiots responsible for it - Congress - need a patsy they can blame it on. Somebody they can throw under the bus to save their own ass. And that patsy is us. Speculators. While the FTT might seem like a longshot now, wait until the dollar implodes, and traders are cast as the villian. North American and European markets won't be free much longer. I think the only markets friendly to speculators will be Chinese, Russian or perhaps Brazil.
quote from your article.."jill summers a rep commissioner of the cftc who voted against the position limits said the limits would only effect about six players and may have little effect on the market", she failed to mention what percentage of the market they control but did let the cat out that there are 6,agin ...votr out the dems and reps ,may not work but we are effed at the moment, we have to get dc out of the hands of the money
LOL, every Central Bank around the world is stimulating, yet the politicians find everyone else to blame but themselves for why gas is going up. It's "ok" if certain asset prices go up because of printing, but not others I guess.
Crude is already down $2 today. 2 DOLLARS IN ONE DAY!!!! Someone needs to be held accountable for these reckless price swings. Somebody needs to pay (less)!
Too bad the teeming ignorant masses don't see this as the red herring that it is. The #1 culpable group is anti-free market politicians and their cronies.
How many years has this been talked about for, all they know how to do is talk, talk, talk, talk.....nothing ever get done, this is politics. hahaha
Lawmakers are going after the Fed? Finally! Seriously, while these "lawmakers" are making their millions from inside trading (and this won't be stopped by the STOCK Act), it's utter hypocrisy that they're attacking "speculators" who want to make more than 0.000015% in a money market fund. Yes, oil is one of the places that attracts money in an age of ZIRP and horrible domestic energy policies.