Originally Posted By: 1993_VG30E_GXE
I'm a wall street oil speculator, and I can tell you that the presence of speculators is the very thing that brings stability to the oil market. Wall street speculation is a very complicated near impossible thing to grasp for most people. First off, people don't understand what the role of the speculator is, what he does, and how they affect the market. Until one researches this (and their is very little info available)...no conclusions can be made or statements to be followed. In fact research would be difficult. The agency has their own agendas and many times headlines and nonsense are just a distraction to satisfy the misinformed public, to make them go away, to sweep them under the rug so to speak.
It can't be understood unless one is a market participant. All that's going to happen is trading limits could be altered. This will do NOTHING to the market because they know the market would not function without adequate speculators. Their intent is to satisfy the public by doing something, but that something will be and MUST BE un-altering to the daily function of the exchange.
I had to call my wife to bring me a new shirt and tie - I snorted coffee out my nose I was laughing so hard from reading this arrogant, condescending gem straight from the same pile of moldy baloney that assured us that a person who should be in prison for tax evasion was the only person smart enough to understand the Wall Street charity bailout boondoogle.
Originally Posted By: 1993_VG30E_GXE
Plus, even if the NYMEX made it very difficult, all those traders would just move to ICE to trade Brent North Sea Crude or move to the Dubai Exchange. So, in many ways they can't do anything drastic, or else the volume will just move to another country and we'll set up shop over there, and the US will lose even faster.
Pffft.
LOL.
Don't let the door hit you on the way out.
These Bozo's, sadly, aren't going anywhere. They're smart enough to know that no other nations government and taxpayers are dumb enough to bail them out of the consequences of their own excesses.