You wrote <<I would love to see a few hundred 18 wheelers pull up to the stock exchange and a few hundred drivers shout at those stuffed suits "where the hell do >> It doesn't work that way. They'd just sell it at a price and lose money before they'd risk delivery.
I lost $3000 on an education in the commodities market - buying long, buying short - until my $3k was gone. Bought $1200 Heating Oil contracts and they were worthless a week later. That was $1200 gone and all I had was a piece of paper saying I'd bought some oil at a price I hoped the oil would be at in a month or more - but during the week in between my buying and my end date the price dipped - and my $1200 was gone. There's no way me buying a futures contract in oiol can make it go higher or lower. I keep hearing how people/speculators are driving the price of oil up but I still don't see how that's possible. Why haven't they done it before now? Why not do it with *all* the commodities? Get a WSJ and look at the commodities section - IIRC it covered at least 4 pages of incredibly small print. Because it doesn't work that way. Unless someone is getting secret info before hand or colluding with a whole group of people - which would mean we'll be seeing a bunch of people going to jail for a long time. It's illegal to manipulate stocks and I bet the gov agencies that oversee these things are looking very closely at anyone making a lot of money on oil futures. Anytime they make $600 and up it gets reported to the IRS. There may be other parts of the govt that does a poor job but the IRS isn't one of them. True, they may act excessively and perhaps illegally even, but few people cheat on their taxes and get away with it -for very long - especially if there's a significant amount of money involved - and to move the oil market one way or the other would take billions of $$s - all of which would be at risk - they could lose those $$s pretty easily. All it takes is a *rumor* that says a new oil field has been found, - Boom - the spot market plunges and those billions are gone POOF! And it happens in the other direction also - if the investor bets the price will go down and there's a rumor of the Israeli's attacking Syria, another POOF! and again, the moneys gone - ALL gone. If it were possible, people would have been doing it for years - and with all the commodities. Take care -- Larry T (66 MGB, 74 911, 91 300D) www.youroil.net for Oil Analysis and Weber Parts Test Results http://members.rennlist.com/oil PORSCHE POSTERS! youroil.net 800-583-8601 Weber Carb Info http://members.rennlist.com/webercarbs ----- Original Message ----- From: "Archer" <[EMAIL PROTECTED]> To: "Mercedes Discussion List" <mercedes@okiebenz.com> Sent: Saturday, June 07, 2008 7:33 AM Subject: Re: [MBZ] Anybody else get this? > ----- Original Message ----- > From: "Gary Hurst" <[EMAIL PROTECTED]> >> pretty much. prices drop and they uphold the contract and make lots of >> money. prices rise, and they "go broke" and make a lot of money. >> it looks like nonsense from here as well >> >> On Fri, Jun 6, 2008 at 1:14 PM, Rolf <[EMAIL PROTECTED]> wrote: >>> I can't help but think its a scam. They will reap all their money now >>> and close the doors as soon as they start losing money. >>> -Rolf > ----------------------------------------------------- > (From another list:) > > There is a lot of chatter about speculators driving up crude prices > I don't doubt that some speculation goes on but how do we know how much? > And how much influence does this have on retail prices? > Oil futures are thought to be a major field for hedge funds. Not > re-assuring. > And even lone speculators can operate off a computer which can be > located anywhere on earth so it is hard to regulate by law or taxation > There are opinions everywhere on speculation but few reliable data > D > > It is more than "chatter". Think about it. If oil prices were set by > discussions that only included those who pump oil and those who refine it, > the price would be very different than the current situation where oil is > purchased and re-sold by all sorts of entities that have no ability to > actually accept delivery of the product they are buying. The futures > market > concept simply brings a lot more players to the table, and that means more > volatility in prices, mostly upwards. These futures are sold and resold > many times, and ultimately the refiners have to pay whatever price the > last > holder of the future wants. > > It seems to me that it would be in the USA's interest to ban the practice. > OPEC of course does not mind selling oil to some guy on Wall Street who > doesn't know shit about refining it (nor does he have the equipment) > instead > of selling at a lower price to some refinery in Texas. And the refinery > in > Texas doesn't mind that the guy on Wall Street bought the oil from Saudi > and > they have to buy from him at a higher price because they just pass the > cost > along to the consumer. > C > > Speculators can operate from any country How can US ban their activity? > D > > It would have to be a coordinated international regulation in order to > work. > Alternatively, if the refineries worked together, they could surprise the > futures traders by suddenly not buying from them. Then a bunch of oil > would > get delivered to those Wall Street parasites. That would teach them. I > would love to see a few hundred 18 wheelers pull up to the stock exchange > and a few hundred drivers shout at those stuffed suits "where the hell do > you want us to put your oil!" > C > > Note: "C" is an American executive working in Europe and "D" is a retired > engineer. > > > _______________________________________ > http://www.okiebenz.com > For new parts see official list sponsor: http://www.buymbparts.com/ > For used parts email [EMAIL PROTECTED] > > To Unsubscribe or change delivery options go to: > http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
