Quote from lorax2013:
I can't believe many of the posters on this thread are really traders well, they are.... and certainly not oil traders well, as mentioned previously, I'm not . Guys, you to gain a proper perspective on who "you" is, please refer to a COT report and you will find that for most of the people on ET, "you" is the small, pissant speculator, who isn't going to bid anything up can bid up the future price all you want - the spot price is set by supply and demand in an ideal world where everyone told the truth about what they have and what they need - yes. So forfackinget that one. (by the way, in case you haven't noticed, oil is in backwardation it's pretty clear what's causing that - like a S/D thing or a USD thing or something) Are people actually falling for that nonsense about evil what's evil? As mentioned above the thing that is evil is lack of tranparency and not the greedy little twerps who are taking advantage of it and for context, one need also always remember the immortal words of Gordo the Gecko speculators being at fault for rising prices? Wake up lorax123, the Fed has been sticking it to people since 1913 or so - Jekyll Island and all that* people - when the Fed debases your currency prices will rise. Speculators are a convenient scapegoat so like who's doing this scapegoating thing? Sounds like some sort of conspiracy so that no one questions why the hell we allow ourselves to be raped vide supra by a central banking system.
Please understand Mr. Lorax1234 that I am not saying that all of what you said is crap, since it isn't. I am simply saying, that things aren't so simple as S/D and getting reamed by the Fed.
lj
BTW: If you want a little conspiracy stuff check this out. Even if the whole thing is completely fictitious, it makes for a great read.
Excerpt from Eustace Mullin's bannned in Boston book - Secrets of the Federal Reserve - yoiks!:
*Accompanying Senator Aldrich at the Hoboken station were his private secretary, Shelton; A. Piatt Andrew, Assistant Secretary of the Treasury, and Special Assistant of the National Monetary Commission; Frank Vanderlip, president of the National City Bank of New York, Henry P. Davison, senior partner of J.P. Morgan Company, and generally regarded as Morganâs personal emissary; and Charles D. Norton, president of the Morgan-dominated First National Bank of New York. Joining the group just before the train left the station were Benjamin Strong, also known as a lieutenant of J.P. Morgan; and Paul Warburg, a recent immigrant from Germany who had joined the banking house of Kuhn, Loeb
__________________________
1 Prof. Nathaniel Wright Stephenson, Paul Warburgâs Memorandum, Nelson Aldrich A Leader in American Politics, Scribners, N.Y. 1930
1
and Company, New York as a partner earning five hundred thousand dollars a year.
Six years later, a financial writer named Bertie Charles Forbes (who later founded the Forbes Magazine; the present editor, Malcom Forbes, is his son), wrote:
"Picture a party of the nationâs greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily hieing hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written . . . . The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New Yorkâs ubiquitous reporters had been foiled . . . Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry . . . . Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality."
