Just as US saving rate was raising dramatically, usd tanked further. there is no point for saving, and most of people don't know how to invest, only option is to spend on useless stuffs.
good to see we have some rational (no name-calling) dialogue going. care to expand on why u think it's misleading. QUOTE]Quote from rubibond007: This a very misleading information. [/QUOTE]
The above CFTC story is dated August 5, 2008 ( Reutrers story ) , notice it is one year OLD story NOT AUG 2009 same CFTC story is posted at this link in AUG 2008 , so it is not a typo error , it is one year OLD story https://bbs.stardestroyer.net/viewtopic.php?f=22&t=125417&view=previous It may be one year old story, but this big speculators who are used to milking small investors habits do not change much . their practice is same today as it is one year ago. but bottom line is NYMEX oil future contracts are heavily manipulated by big speculators milking small investors by forcing to close their margin call positions and once small investors close their positions with heavy losses then big speculators turn crude futures price in the reverse direction . This is the main reason for big swings in crude market
"The USO holdings of WTI Futures peaked at 96′500 contracts on the 19th of February. On the 24th of February, Platts revealed that the CFTC was contacting the USO in view of their holdings in WTI Futures and the CFTC then made a public statement about the same on the 27th of February. Since then the WTI holdings in WTI have continuously been reduced." http://ftalphaville.ft.com/blog/2009/06/11/56933/the-problem-with-commodity-etfs/