Michael Masters (Hedgie) says Oil Market hijacked by gamblers and pumpers

Discussion in 'Commodity Futures' started by stock777, Jun 23, 2008.

  1. And partisan hack lib Corzine always tells the truth right?
     
    #11     Jun 24, 2008
  2. I can see what you are saying to a point then why did they let oil drop to $9 with many the econmist included thinking it was heading to $5?
     
    #12     Jun 24, 2008
  3. Leonidas

    Leonidas

    Why would you kill the goose that lays the golden eggs? These index speculators are a "game changer," and why wouldn't SA want to sell at increasingly higher prices?

    Plus, apparently the market cares more about the light sweet crude than the Saudi sour crude.
     
    #13     Jun 24, 2008

  4. Size goes to size. When you're producing a gazillion barrels a month you need more than an order book filled with 10 lots to set up your short hedges.

    And yea for now these funds are an apparent game changer but without fundementals continuing to follow suit (consumers paying up for product) the investment allure of commodity indexing will fade and then prices sag. Just like it happens with stocks and fixed income products.

    Actually I'd argue Asian CB purchases of Treasuries have been more of a "corner" than anything in oil and arguably a bigger detriment to Americans locked on fixed income rates of return than the harm of $4 gasoline.
     
    #14     Jun 24, 2008
  5. The same shmohawks who believe the two biggest lies in the world
    1) The Check is in the Mail
    2) I won't come in your mouth
     
    #15     Jun 25, 2008
  6. You guys just don't get it. Its a HOLDUP.

    And commodity, milk, eggs, any freaking thing you name, can be run up like a penny stock promotion.

    Any YOU are forced to buy it. Or you don't drive, drink milk, or have your sunnyside up.

    They key here is YOU the public imbecile, will pay anything.

    That's the scam.

    Get it?

    Good.
     
    #16     Jun 25, 2008
  7. Producers can change the game by forcing speculators to take delivery on their contract. This apparently is not happening, I think they're buying the contract back.

    So the producers are in this game also.
     
    #17     Jun 25, 2008
  8. I listened to Masters testimony. He could barely talk, one of the dumbest sounding people I've ever heard before congress. He had zero support for his assertions.

    This is a clever democrat plot to blame speculators for high oil prices. A twofer for them, they can justify raising taxes on evil specs plus shirk responsibility for their own huge role in wrecking our energy policy.
     
    #18     Jun 25, 2008
  9. Again, no proof just your idiotic conspsiracy theories. Go back to Obama campaign headquarters and tell them your work here is done.
     
    #19     Jun 25, 2008
  10. Leonidas

    Leonidas

    Have we seen huge increases in supply or huge decreases in demand? If you think the fundamentals support the FRONT MONTH PRICE, I want to know what they are.

    Don't give me this crap about Chinese demand, because our supply and demand conditions aren't materially different than last year's, and we're double the price.

    Also, McMasters didn't talk about raising taxes, he talked about things like, oh, ENFORCING POSITION LIMITS. Seriously, I'm a Republican too, but how can you be so blind? Wall Street doesn't know any political party, so don't support their frequent attempts to rape the public. That hurts the Republicans in the long term, you know.
     
    #20     Jun 25, 2008