$2.5 Trillion - Thatâs the size of the global oil scam. Itâs a number so large that, to put it in perspective, we will now begin measuring the damage done to the global economy in "Madoff Units" ($50Bn rip-offs). Thatâs right - $2.5Tn is 50 TIMES the amount of money that Bernie Madoff scammed from investors in his lifetime, yet it is also LESS than the MONTHLY EXCESS price the global population is being manipulated into paying for a barrel of oil. ...There is NO shortage of oil. OPEC alone has 6-7 Million barrels a day of spare capacity, more than the total disruption of any single country and any two countries other than Saudi Arabia could offset. Additionaly, ICE partners Total and JPM are part of the cartel that is totally skewing the global demand picture by storing 125M barrels of oil in offshore tankers. Thatâs 15 days of US imports that have been "ordered" but never delivered so they show up as an extra 1Mbd of global demand, even though nobody actually wants them. Land-based storage is also bursting at the seams, with global supplies up to 61 days of total consumption (84Mbd) up from 52 days last year. Thatâs 5 BILLION barrels of oil already out of the ground, in barrels and ready to go AND THEY KEEP MAKING 86M MORE EVERY DAY!!! Where is the shortage? Mainly, it is media hype pushed by "analysts" at the very firms that profit the most from high oil prices. Goldman Sachs issues bullish opinions on oil and builds large positions in oil, while it is the cartelâs job to hide oil in offshore tankers, and then sell forward all the oil, with futures contracts, locking in the high price. Read whole article: http://seekingalpha.com/article/172...imes-bigger-than-madoff?source=hp_mostpopular
Yes. A big scam and everyone knows what's going on and which way the price is headed. Except 99% of all traders (including the author of the article) won't make a SINGLE dollar from their superior knowledge!
With millions of NEW Chinese cars hitting the road every new year, it won't be long for any spare production to be sucked up in no time. The days of using the US alone, to measure supply/demand of any commodity are long gone.
................................................................... One would think that India, China and others might like to have a few million $2500 cars.... But they care about one thing......$PRICE Could care less if its batteries....oil....nat gas.... And actually Tata, Nissan, whomever should at least consider nat gas....instead of oil.... But the moment China gets the battery down....oil ...nat gas....shunned like the plague.....
blame the ETF's blame those who report the news and c control the so called non-biased financial presses blame the speculators the pope just did.... blame those who keep thinking they are somehow wise, intelligent and espousing the latest insights that are completely justified in their support for present and higher crude oil prices... the true cost of a barrel continues to be in the USD $18 - $26 range, even with these so called deflated dollars not the often quoted $80 range of late... blame all the advertisements for: 1) managed futures 2) diversifying your portfolio 3) hedges against inflation 4) the smart money is doing.... (blah, blah...) after all, some one made off with all those billions those crooks stole, even from their own jewish causes, and with great applumb, fanfare and such. remember, he was welcomed like a god in palm beach...
Yawn. The bailout/stimulus/Dollar-crushing/artificially low interest rate scam trumps them all...by a large margin.