Lieberman: Restrain Large Speculators

Quote from supertraders:

the hedge funds are just protecting their cash from inflation from FED lowering rates to 2%

gov't can't steal from the professional investors by causing inflation.

that cash has less buying power than 5 years ago..

the private individual will do what he will do...

raise fed rate to 5% and all new money will exit commodities market

Careful what you wish for... you just may get it!
 
I wonder why the government always blames speculators when the stock market goes down, or when the commodities market goes up... ?

But they never seem to think that speculators are behind a stock market going up or a commodities market going down... ?

So my guess is, perhaps it isn't speculators who are keeping the price of oil in the clouds, but someone in the white house trying to take over the middle east like he's playing Risk.
 
Quote from AAAintheBeltway:

It's frightening that Lieberman is a very real possibility as McCain's VP pick. Somehow, he has this media-generated aura of common sense and integrity, but all I see is a typical liberal pushing a leftwing agenda. This nonsense about energy markets is classic. Blame it all on the evil speculators. Oh yeah, and the evil oil companies. I'm sure the foreign futures exchanges will appreciate the extra business when they drive trading offshore through a combination of mindless regulation and sharply higher taxes.

In all this blathering, never a word about the true culprits for our current problem. How many nuke plants have we built? How many new refineries? Why are there scores of different regional formulations for unleaded gas? Think that helps prices? How about coal, as we are the Saudi Arabia of coal? Shouldn't we be building coal-fired plants like the Chinese are doing? Coal gassification, good idea or not? Oil sands? Or, to keep it simple, drilling in alaska and off the east coast? Or is it better to let the Cubans and chinese suck up that florida oil?

Politicans, mainly democrats, have sabotaged our energy policy for 30 plus years. They have let radical environmentalists and global warming alarmists set policy. They pay lip service to their concern for the poor, but when it is time to vote, the wealthy liberals with their delicate sensibilities call the tune. Joe Sixpack has to cough up $120 to fill up his pickup truck to drive 50 miles to the one construction job that has not been taken over by illegal aliens.

You read my mind with that post!!
 
Quote from bkveen3:

Look at Iraq's oil production pre and post war. Insignificant in both time frames. On the other hand Iraq does have a massive amount of oil under its feet.


Did you vote for W?

If so, too bad that the imbecile you voted for, who has had 8 years to accomplish something positive, has only managed to help to destroy a good chunk of the middle class in the U.S., huh?

And we don't even get lower oil prices, to boot.

Bush didn't manage to accomplish that feat all by his lonesome. No. He had a lot of help in the form of manipulation and just plain incompetency from members of his trusted inner circle.

That's what happen when you live in an idiocracy; majority rules, and you're obviously in the majority, because I never did and never would vote for someone with Bush's (lack thereof) resume.

There are other contributing factors to the precarious state of the union, but Bush sure has helped things along.

Unlike you, I can find fault in all candidates and all parties. Unions have to be more flexible, Americans have to be more willing to sacrifice for a common good (as long as it's rational and well thought out policy that will better their children), environmentalists have realize a balance is in order, liberals have to realize that 5% of the U.S. can't shoulder 90% of the tax burden, conservatives have to quit their seemingly endless pursuit of enriching the military-industrial complex at the expense of the rest of the nation (including the 95% of the balance of the business community, large and small) - which Eisenhower warned of all America against in his farewell address, parents have to assume responsibility for disciplining their children and making sure that they actually study, the education lobby has to quit pushing the notion that fancy building and more money lobbed at education won't improve the performance of American youth, and all Americans need to quit living beyond their means (including our beloved local units of government, which have increased spending at a vastly greater rate than even the very portly federal government).

The Iraq War is going to cost the United States 3 trillion in economic terms, not to mention the human costs, was waged for illegitimate purposes, without widespread world support, on a nation that (despite having a paper tiger douche bag despot leader) posed no real threat to us, nor was responsible for the attacks of 9/11, and here you are, loud and proud, shouting off like you actually have a clue.

It's pretty amazing how big a coping mechanism delusion is, huh?

While China spends its money wisely, educating its people, absorbing our (and others') technology, building out its infrastructure, and focusing on the future, we have spent eight long years pissing away trillions on military misadventures, while our infrastructure crumbles, we have idiotic policies like the corn-ethanol program with its subsidies shoved down our collective throats, less than 60% of U.S. students graduate from high school, and we have an idiotic media that is more interested in educating us about the latest forays of Britney Spears than generating real discussion about military, economic, energy and educational policies.

But what do you expect when you have a frat boy par excellence, who'd rather be seen as the guy you'd want to slam a cold one with, than someone who can actually help craft constructive policies that will lead to America remaining competitive with its rivals and that will lead the world.

Most of all, we need independent, intelligent thinkers, completely insulated from particular interest groups, leading the country.

Until you realize these things, you're a big part of the problem regarding what's wrong with America.
 
since someone posted about bush's 89% approval...

at that time, i wasn't a fan of his, but i thought in response to 9/11 (as in, the couple weeks after), i thought he was doing adequate, what he should be doing. so neither in the 89, nor the 11.

when he invaded afghanistan, i thought he was doing the RIGHT thing.

when he invaded iraq, i was on the small percentage (25? 30?) who thought it was a horrific mistake, and when people were getting killed, and bush's cabinet was doing all these screwy things with good people (o'neill and a bunch of others) i hoped bush would lose - to anyone, another republican in a non-existent primary, a democrat, no matter. the dem put up was a dope.

oh, wait, there was one democrat who likely would have been far worse than bush AND tried running for president.

and his name is lieberman.
 
Quote from Covert:

If there are deceptive practices going on, then by all means, throw the book at them. However, for some reason, the word 'speculator' has become a dirty word. Why on EARTH would anyone think it's a good idea, in this day and age and in this country, to make a move to curb speculators? If some of you are thinking this is a good idea, then I'm SURE that you don't make your living trading these or any other markets.

Our Congress is completely incapable of solving the energy problem. Messing with free markets is another in a long line of foolish ideas born in the minds of pandering politicians and sold to a foolish public.
If the exchanges were to decide that the margins needed to be raised, then I could live with this, but having a lawmaking body tell us who can and can't trade is the first step on the path to socialism. WISE UP!!


Thank you counselor, but we heard all this at trial.

Mr. Spec has already been convicted.

We're here today to decide his sentence.
 
I'll shut you idiots right up.

The jerks that are saying there nothing to the accusations of rampant speculation, are the same ones that were all for unrestrained lending in the housing market.

That was a winner.
 
Quote from bkveen3:/PaPrime

Wow BLSH sounds like he gets upset quite easily. Kinda makes me regret ever believing some of the BS he writes about. Why does every oil thread turn into an Iraq war thread? Look at Iraq's oil production pre and post war. Insignificant in both time frames.

On the other hand Iraq does have a massive amount of oil under its feet. Hopefully as stability comes to the region Iraq will start to be a major contributor to the world oil supply. Again whether or not you agree with the war, the fact is that this never would have been possible under the old regime. The infrastructure was already unable to keep up with its current production. A little known fact; however you feel about him now pre invasion Bush had the highest approval ratings of any president..... ever. He may not be the best president we've had but he's by far not the worst (cough carter).

On the matter of speculation in the market. Speculation is good for ALL markets, even the commodities market. But as was pointed out in the legislation it should be 80% consumer/producer driven and 20% speculator driven. Thus the speculators don't have control of price they simply follow it to profit. The commodities market with its recent influx of money has gotten an inverse ratio where speculators have an 80% market share. Liebermans proposal does not keep institutions out of commodities markets it simply brings the margin and position limit regulations up to par with the other markets. Where they should have been all along. If you disagree with me I would rather you don't go the route of BLSH and personally bash me. I would much rather have an intelligent debate.
=========================
Thought the hearings on big oil [Shell,XOM.....]went real well for the oil companies;
& the attackers of big oil should mind thier own business was what i wrote my Senators.

But the hearings on market manipulation with George Soros testifying recently agreed with Bkveen. Yes they should raise the margins on oil,Morgan Stanley[big oil speculator] came off in those hearings like they were grinding the faces of the poor.

No i don't drive a SUV, but from the sounds of F,GM leaders lately not many people will in the future.

Plenty of stuff to trade besides oil contracts on silly margins.Already raised wheat margins, so my comments are limited to oil contracts.
.And mr Soros did mention supply & demand.

:cool:
 
Quote from ByLoSellHi:

I support rooting out speculation when it deals with an essential good such as oil, because oil is so necessary to 90% of U.S. commerce and national defense itslef.


agreed,
 
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