Popping the Crude Bubble...
It is my understanding that part of the housing bubble (bursting) was do to constant barrage of media reports on when the housing bublle was going to burst.
With this kind of media shaping us and the new reports of the price of a barrel being traded at $135.00/ barrel purely based on speculation. (Some reports even saying upwards 60% of the price = $57 real price)
Couldn't we do the same thing? I mean there are over 1 million RP supporters if we made this an assignment to post and repost that same story over and over and over to encourage people to sell off thier holdings before it "pops". Wouldn't that inturn lower the price at the pump?
All we would be doing is exactly what the media has done.
Perhaps this could be our next event?
What do you think and how do we do it? Organizers? Please help keep this and any stories about speculation bumped. This is a worldwide problem.
learn it , know it, live
learn it , know it, live it!
http://www.investmentrarities.com/06-10-08.html
speculators are only a small peice in the price of oil.. your own government is who is screwing you to death!
then see below! its your GOVERNMENT KILLING YOU NOT SPECULATORS!
http://video.google.com/videosearch?q=%22Gas+prices+are+NOT+...
as for me and my home, we shall worship the LORD
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
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Speculation v. Consumption
There is a fundamental difference between the Nasdaq bubble or the housing bubble, and blame for the price of oil on "speculators."
Oil is being consumed at these prices, not held for resale... or flipping... or some greater fool theory.
Every commodity futures contract being bought by a so-called speculator is being sold before that contract results in delivery, meaning that these investors are not changing the price in the market, but simply adding liquidity and price stability. Despite this, the media accuses them of doing the opposite.
You can't speculate on the value of oil that that you already used to heat your house or fuel your car. It's gone. Forever.
The oil price today has nothing to do with speculation, and everything to do with a devalued U.S. dollar, geopolitical instability in Iran, Iraq, Venezeula, and the prospect of further government intervention in U.S. energy policy and windfall taxes on the creators of our energy supply.
Has also to do with
increasing demand as other economies are developing, such as India and China. The devalued dollar doesn't seem to have that much to do with it. The price of oil in inflation-adjusted dollars has been skyrocketing too.
The bubble that I'm worried about is the money supply bubble.
POPing of...
"first by inflation, then by deflation, the banks...will deprive the people of all property" -Thomas Jefferson
government of the people, by the people, for the people
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Oil price in Euro's
That's because the selling price of oil is in dollars. So it's going to take more Euro's to buy more inflated dollars to them go and buy oil.
The dollar is dying, America's debt, and rediculous entitlements are causing our own death.
Devalued dollar
The high price of oil appears to be largely due to devaluation of the dollar. It's no bubble, it's inflation. A panic might knock it down a little for a short time, but you had better get used to it.
No
Look at a chart of the inflation-adjusted price of oil. It's been going up. Here's a chart up to 2008: http://inflationdata.com/inflation/images/charts/Oil/Inflati...
False Inflation Figures
Inflation statistics are systematically underreported by the government. This means that a graph of "inflation-adjusted" oil prices will overstate the increase in oil's price relative to the dollar. For a different view of CPI, see the chart in this article:
http://www.signonsandiego.com/news/business/20080417-9999-1n...
Let's price oil in something that cannot be printed as easily as the US dollar (like gold) and you'll find that the price is up modestly, but not substantially:
http://online.wsj.com/article_print/SB119941453085566759.html
The purchasing power of gold
is also up a lot for pure speculative reasons. It's in a bubble of its own. That has to be taken into account when looking at a chart of the price of oil in gold.
So...
Let's me get this right:
Oil is up due to speculation.
Gold is up due to speculation.
Silver is up due to speculation?
Wheat, corn, soybeans, oats, and rice are up due to speculation?
Heating oil up due to speculation? Cotton? Aluminum? Coffee? Steel? Milk? Copper?
Are education costs up due to speculation? Health care?
These prices are all up do the lower purchasing power of the U.S. dollar, all the result of inflation.
Find this hard to explain, since house prices are dropping? Wages stagnating? Unemployment up?
http://en.wikipedia.org/wiki/Biflation
You're putting words in my mouth
I didn't say oil is up due to speculation. I'm saying it's up mostly due to supply and demand issues, rather than due to inflation. Inflation is part of the price rise, but I don't think it's most of the price rise.
And I'm saying a large part of gold's rise is speculation in gold.
Exactly Right
Almost 90% of what oil is going for these days is caused by the devaluation of the dollar.
If you watch CNBC, they put the blame on speculation, demand, peak oil...etc...etc.
The never mention what is really happening.......
King dollar is dying..............
This is true
But is there speculation?
Yes the dollar is dying
and I thought of that too. But that wouldn't be the case for Europe where the Euro is king. This is not just an American situation. Matter of fact I heard a report the other day. (Not sure his role) One of the Saudis said that they are still selling it for the same amount and can't figure out why the price of Crude is so high?
Also to that. Our dollar was much stronger in previous years and the price of gas has not been below a dollar since 1997.
It was just a thought because I know we have the hearts and the will power to pull offf something like this. Create a buzz that oil is going to pop and it is all speculation and bingo we have relief.
Euros too
Euros are also inflating. Almost every currency in the world is inflating, some worse than the dollar.
Oil and Euros
Oil is paid for in DOLLARS. It was a nice deal the U.S. made in the 70's to make sure the dollar remained the world's number one currency.......
But nothing will save King Dollar this time around...........
So they must be suppressing precious metals. Right?
Does my burka make my butt look fatwa?
Does my burka make my butt look fatwa?
Not sure
I don't know. As I understand it, the Plunge Protection Team has authority to manipulate gold prices. But I couldn't say whether they are doing so or not.
I think gold and oil are now at about the historic average ratio. I expect both to continue to climb as the dollar loses value.
Buy food.
Not necessarily, since there are many houses on the market and people can always share a home. Whereas petroleum production is controlled by a few so they can shut off the tap when they wish.