Friday, December 16, 2011
Is it unpatriotic to invest in Oil?
indeed, many economists are saying it is the oil futures speculators that are causing this latest run up in gasoline prices. And who are these speculators? Mostly rich investors who can afford to risk some money with a chance to "make a killing". Unfortunately, the futures market is driven by one fundamental--greed. As a past futures trader way back when, i witnessed a similiar situation back in the 70's when gold, silver and grains were all over bought. Eventually, the FTC (fed trade commission) stepped in and froze trading for a while. They may have to do this again, but whether they do will depend on when the bush administration is satisfied with the number of rich bush friends that have made enough money. And when the crisis is "over", we all will be stuck with (at least) $4/gallon gasoline.
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