OT: The budget according to McCain - Part I

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You're the one claiming to know so much about the futures markets and how prices are manipulated. So, why don't you tell us? Before I went around spewing about how something should be banned, I would at least understand what was going on. And I'd start somewhere other than a hysterical news report about a guy trading one futures contract being responsible for pushing up the world price of oil.
BTW, along the way, maybe you could learn the correct terminology. Because amateur isn't even close to what you're talking about. I've never even heard anything so silly. Amateurs manipulating the futures market. LOL The typical amateur opens an account with $10K and blows it out in less than a year.
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All I have to go on is endless stories like this, all of which are as true as they can be. You will now argue otherwise.
You will notice that it's nothing but guesswork & theories, exactly the same "system" employed by stock analysts.
"With little other news to motivate buying or selling, investors focused on forecasts by analysts including Addison Armstrong, director of exchange traded markets at TFS Energy Futures LLC, who predicted crude supplies fell by 1.5 million barrels last week. Tim Evans, an analyst at Citigroup Inc., predicted that crude supplies fell by 2 million to 3 million barrels."
Crude futures have since retreated as OPEC boosted supplies and several forecasters cut demand predictions. But in recent weeks, prices have held generally to a range between $87 and $95, leading some analysts to conclude some investors may be poised to make another push for $100 a barrel in the new year.
But there is little consensus on that theory. Other analysts maintain that oil's fall rally was driven more by speculative buying than the underlying fundamentals of supply and demand. Analysts in this school of thought believe oil's true value is closer to $50 or $60 a barrel.
"Although we cannot predict the highs and lows of oil prices, we are more certain that volatility will continue and the current bubble will eventually burst," said Fadel Gheit, an analyst with Oppenheimer & Co., in a recent research note.
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JoeSpareBedroom wrote:

Well, there's at least one serious buyer out there. Somebody will want the oil in the future. Now maybe there are a 1000 people buzzing around trying to guess or manipulate the price for each single company that wants to buy oil, but SOMEBODY wants or will want the oil.
The people in the business know their needs and can properly evaluate their costs. In the main they ignore the amateurs who are trying to guess what the professionals will do - unless the professionals see a remarkable chance to screw the amateurs big time, like the electrical suppliers did to the state of California.
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