I understand, but from what I understand from the 60 Minutes piece, there were more contracts than available oil.
************************************************* I'm Surviving The Obama Depression http://www.cafepress.com/rightwingmike/6535062 --- On Thu, 3/12/09, Stephen Russell <[email protected]> wrote: > From: Stephen Russell <[email protected]> > Subject: Re: [OT] Billions to Dubai > To: "ProFox Email List" <[email protected]> > Date: Thursday, March 12, 2009, 11:43 PM > On Thu, Mar 12, 2009 at 6:04 PM, Michael Madigan > <[email protected]> wrote: > > > > You shouldn't be able to sell futures on oil that > can't be taken from the ground. There were more > contracts than available oil. > --------------------------------- > > ??? These are oil futures. What are you talking about. > Futures were > bought and sold to others who did the same bringing up the > price per > barrel. > > -- > Stephen Russell > Sr. Production Systems Programmer > Web and Windows Development > Independent Contractor > Memphis TN > > 901.246-0159 > > _______________________________________________ > Post Messages to: [email protected] > Subscription Maintenance: > http://leafe.com/mailman/listinfo/profox > OT-free version of this list: > http://leafe.com/mailman/listinfo/profoxtech > Searchable Archive: http://leafe.com/archives/search/profox > This message: > http://leafe.com/archives/byMID/profox/[email protected] > ** All postings, unless explicitly stated otherwise, are > the opinions of the author, and do not constitute legal or > medical advice. This statement is added to the messages for > those lawyers who are too stupid to see the obvious. _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
