Senator Bernie Sanders Demands Action From Obama On Wall Street Oil 'Gambling'

Bernie Sanders is 100% RIGHT, the rise in oil is all speculation.
As traders you should know that, and you know it actually you all are just being completely disingenious like most energy traders that the networks interview.

I say shut down the speculative activities of the banks and the long only funds, and shut down the Federal Reserve.
 
lol on supply and demand...

oil drop $3 bucks when bin laden handed 3 million oil barrel to us but they soon realized its not oil its black sand so oil climbed $4...

greed = new supply and demand + geo political tension
 
Goldman Sachs released a note to clients that put a number on the impact speculators were having on the price of crude oil. The report indicated that, at the time, the speculation premium was $27 per barrel of crude oil, which hit $113.46 during early trading that same day.
 
You have to let speculators speculate. They can speculate long or short for god's sake. It's not as if they can all just jump in and go long at any price, then roll out of bed with easy profits. They can go long and be wrong and get burned. Mr Sanders, along with a lot of other politicians, Joe Q Public, and a surprising number of traders don't seem to understand the basic function of commodity markets: why they exist and how they work.
 
Quote from olias:

You have to let speculators speculate. They can speculate long or short for god's sake. It's not as if they can all just jump in and go long at any price, then roll out of bed with easy profits. They can go long and be wrong and get burned. Mr Sanders, along with a lot of other politicians, Joe Q Public, and a surprising number of traders don't seem to understand the basic function of commodity markets: why they exist and how they work.
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The game has changed with the long only sheeps and other followers of Jim Rogers. For God's sake, the world needs to take these guys out of the game. Oil will then collapse back to $50 .
 
Quote from trade2live:

The game has changed with the long only sheeps and other followers of Jim Rogers. For God's sake, the world needs to take these guys out of the game. Oil will then collapse back to $50 .
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either you let the markets work, or don't even bother to have the markets at all
 
Quote from stopnlimits:

When will the masses notice???
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The politicos rely upon the hoi polloi NEVER waking up.

If we had an educated, informed, not-so-greedy populace, most of these politicians couldn't get a job shoveling shit on a dairy farm... if they weren't in jail, that is.
 
Quote from Scataphagos:

The politicos rely upon the hoi polloi NEVER waking up.

If we had an educated, informed, not-so-greedy populace, most of these politicians couldn't get a job shoveling shit on a dairy farm... if they weren't in jail, that is.
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The problem with the populace is: they think they are informed. But if you ask them to back up their opinion with reasons and justification, you'll find they often don't have any. They think that way because someone told them to think that way. And it's not a US problem. It is a human problem that has persisted throughout time.
 
Quote from olias:

either you let the markets work, or don't even bother to have the markets at all
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futures markets were designed for producers and consumers of a product to manage risk with each other. when one speculator, not connected with the actual oil market, is allowed to bet on the price of oil through paper derivative contracts with another speculator not connected to the oil market there is very little useful price discovery going on. it may be good sport for traders but there is little economic value. it becomes an even bigger problem when someone big enough to influence the market is able to make the bets and then make the market move in a desired way.
we just went through this with mortgage market derivatives. how well was the market working with that one?
 
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