Mr Bigfoot

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  • In Case a $700B Addition to the Debt Isn't Enough
    Why must every big corporation that goes under get bailed out. Let the chips fall where they may. Don’t try to scare the public into thinking this is some big disaster. It’s only a disaster for the rich. Too bad I say. I hope they don’t all jump off the roof tops like they did back in the depression but I believe if you make your own bed you lie in it. We don’t need to bail out every rich guy that screws up do we? That was a retorical question so please don’t answer it for me , because I already know the answer. Here it is straight up, Money is supposed to be used to trade for material goods not for gambling in speculationin stocks , commodities, not for other types of casinos, hedge funds, parasitic interest rates that banks and credit card companies charge, bonds, or any of that other crapola. It’s was made to trade goods like food, land, homes cars etc. Anything else is a fictitious economy. CONGRESS PEASE GET IT RIGHT THIS TIME
    Oct 03 12:35 pm |Rating: 0 0 |Link to Comment |View article
  • Weekend Reading: Evil! Speculators! Edition
    Democratic Senator Ron Wyden from Oregon, said Quote "I think the CFTC is losing credibility by the day, The agency's lack of oversight has hurt a lot of businesses." End Quote.

    In a seperate and rare dissident vote, Bart Chilton, one of the four CFTC commissioners, said the actions were insufficient. He said Quote "I do not believe the Commission's recommendations go far enough," End Quote.

    I say, "How come no one is talking about compensation for the public? That’s right. We all got ripped off at the pumps and we want our money back. Vitol, Goldman Sachs, Morgan Stanley and the rest of the scoundrals have an obligation to make it right again and the CFTC should be disbanded and punishment administered to the ones that covered up this massive mistake". Remember the Vitol "Oil for food" scandal in 2007 and then there was the Vitol "Contaminated oil scandal" in 1993 which involve the selling of 280,000 barrels of dirty oil to Pakistan? I guess we can call this one the "Vitol Swaps Scandal" Why was a company like Vitol even allowed to speculate in the first place?

    Sep 14 12:00 pm |Rating: 0 0 |Link to Comment |View article
  • When Fundamentals Don't Pay
    Democratic Senator Ron Wyden from Oregon, said Quote "I think the CFTC is losing credibility by the day, The agency's lack of oversight has hurt a lot of businesses." End Quote.

    In a seperate and rare dissident vote, Bart Chilton, one of the four CFTC commissioners, said the actions were insufficient. He said Qoute "I do not believe the Commission's recommendations go far enough," End Quote.

    I say, "How come no one is talking about compensation for the public? That’s right. We all got ripped off at the pumps and we want our money back. Vitol, Goldman Sachs, Morgan Stanley and the rest of the scoundrals have an obligation to make it right again and the CFTC should be disbanded and punishment administered to the ones that covered up this massive mistake". Remember the Vitol "Oil for food" scandal in 2007 and then there was the Vitol "Contaminated oil scandal" in 1993 which involve the selling of 280,000 barrels of dirty oil to Pakistan? I guess we can call this one the "Vitol Swaps Scandal"

    Sep 14 11:54 am |Rating: 0 0 |Link to Comment |View article
  • Are Speculators Really That Bad for Commodities Markets?
    My question is the reverse. "Is speculation really that good." Do we need that many speculating for specialty groups for profit gain only. Should we trust a company with such a bad track record as Vitol to hold 11 percent in the NYMEX Oil commodities market. Remember the Vitol "Oil for food" scandal in 2007 and the "Contaminated oil scandal" in 1993 in which Vitol sold over 280,000 barrels of dirty oil sold to Pakistan? I guess we can call this one the "Vitol Swaps Scandal" How come no one is talking about compensation for the public? That’s right. We all got ripped off at the pumps and we want our money back. Vitol, Goldman Sachs, Morgan Stanley and the rest of the scoundrals have an obligation to make it right again and the CFTC should be disbanded and punishment administered to the ones that covered up this massive mistake.
    Sep 12 11:25 am |Rating: 0 0 |Link to Comment |View article
  • Incorrect Media Speculation About Those Oil Speculators
    OK . Now that we know who is to blame then how come no one is talking about compensation for the public. That’s right. We all got ripped off at the pumps and we want our money back. Vitol, Goldman Sachs, Morgan Stanley and the rest of the scoundrals have an obligation to make it right again and the CFTC should be disbanded and punishment administered to the ones that covered up this massive mistake. As usual, I agree with Mangolfer
    Sep 10 19:51 pm |Rating: 0 0 |Link to Comment |View article
  • Oil Markets, Speculators, and Vitol Group's Controlling Stake
    OK. Now that we know who is to blame then how come no-one is talking about compensation for the public. That’s right. We all got ripped off at the pumps and we want our money back. Vitol, Goldman Sachs, Morgan Stanley and the rest of the scoundrals have an obligation to make it right again and the CFTC should be disbanded and punishment administered to the ones that covered up this massive mistake. I agree with mangolfer's comment, a class action seems like the only way to go.
    Sep 09 22:14 pm |Rating: 0 0 |Link to Comment |View article
  • Blame It on Oil Speculators
    Although oil appears to be a good hedge against inflation, the low dollar and a low oil supply, the truth is, our oil supply is becoming less of an issue with a surplus possible soon. Inflation is the reason for this. Right now, the main thing driving inflation is high oil prices. As inflation goes higher investors buy more oil driving inflation higher again. Some experts predict this will trigger the world recession. This will result in lower gas consumption and it will free up more gas supplies, perhaps even creating a surplus in my estimation. The US dollar is in a good position to rebound to the top of the heap. Why? Because the EU will drop in value. There's just too much turmoil in the European Union right now. Investors will see the US dollar as the only alternative. I am no expert but even I can see the writing on the wall. Investors are going to loose their shirts on oil just like the recent housing credit crunch. We may be looking at another ENRON only this time on a much bigger scale. Hedge funds that have invested mostly in oil will topple leaving old age pensioners with nothing. The government won't be able to bail them out this time because the cost would be far to great. The CFTC and FSA will probably be too slow to react to the cracks forming in commodities trading so the govenment will finaly step in. By this time of course it will probably be too late and the damage will already be done. You said it yourself Kevin: qoute: "Typically, when speculators push the price of a good beyond reasonable level, producers begin producing to capture excess profits" The reason they don't produce more is because wolrdwide demand is dropping. China just raised it's gas and deisel 18 percent so consumption is dropping right now and it makes no sense to produce more oil in an economic climate we are experiencing now. Do you honestly thiink by raising oil output a few hundred thousand barrels a day that this will have any affect on prices. It would be minimal price change and only phsycologicaI in nature if it did. Take part in our gas price poll at nbtv.ca
    Jun 22 09:13 am |Rating: 0 0 |Link to Comment |View article

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