Again 100% true.
Economists and the GAO were saying at the hearings the other day that energy futures need to be tied to assets more at the level that is required for other margins. That would slow some of this speculation and profiteering down.
Problem is the Republicans have created some loop holes where they can run this all through dubai and not answer to American regulation or margin calls of any kind.
The Republicans like that funny money it pads their pockets and when the bubble busts they of course will not be the ones holding the bag it will be small 401 k accounts and mutual fund investors that will take this hit.
Quote:
Originally Posted by justme
Alright. First an historic admission. For the first time ever, an internet user, me, is going to admit to not being a finacial whiz and not pretending to know everything there is to know about everything! 
I did read or hear something lately about the oil speculators only having to have %15 of the cash needed where other commodities require somewhere closer to %50. In effect allowing the oil prices to be inflated with very little risk on the part of the speculators.
I can see where this hurts and ,if true, wonder why it is that way. |