G. L. Turner

Thoughts on Energy Trading Position Limits

I listened intently to this financial geek's Congressinal Testimony and read his reports.

Bottom line: University of Houston ...Hmmm (Sounds like Big Oil's Hihgh School.) and I wonder how much Wall Street Endowment also flows into the U of H. To the point, it was obvious just listening to hiim that he was working overtime then, to try and prove what he was to prove...that there was not such thing as TOO MUCH FINANCIAL SPEC money in the energy markets last year...yeah, when oil normaly would trade 10x normally, was was at the time trading 28 x in 30 days...Nah, it was all S/D, jsut like now!

How do you spell 'SHILL"?

Money Managers Find Favor in Oil

Moser - they are poised, in a low stance, just waiting until Gov. Sachs says: "Go! Its time for $110 Oil, then a month later - $120!"...except, mayber they are just holding tight to see if GC pulls another one on then last last July and goes (oops, let's short it!).

With that much money in there, it's a very big time bomb waiting to go off, either direction...jsut a question to see who wins, the hedggies are the MASTERS of GREED!

Consumer Confidence Dips Due to Jobs - And the Price of Oil?

Ferndinand, to claim to be such an expert, you constantly show your bias and ignorance, Just read the article in SA yesterday (or the day before) about the amount of hedge fund/GS/MS/JPM money ("managed money") that had poured into long positions in just the last 3 weeks.

You have got to be a shill for one or several of these WS pariah!

Please get your facts straight instead of trying to lead us down some 'intended' path of maya.

World Recovery Is in the Hands of OPEC

The SECOND Best article in a while...both here today....

I have been faxing the Obama Admin and CFTC and key Senators weekly for almost two years now, especially my friend Mike M showed us the reality in the futures markets...

We are in a hell of a bind...here at home with our domestic speculators (GS, JPM, MS) ready and willing undermine our economy and future for thier own gain, and then whole new market giant (Asia) available to OPEC. (See Ron Hera's Article here today...)

We had better wake up and get our act together with reform/regs here and with a cogent, government led commodity trading policy that deals with securing oil (and other resources) for us, pronto...or we will see another speculator come after our economy - that of the Dragon, just as soon as they get the rest of the world to shift off the petrodollar as the reserve...

The future will be interest, with nowhere to hide....

China’s Dragons: Oil, Gold, and the U.S. Dollar

Best damn article I've read in years!

Kudos to You, Ron.
A brillant reading of the road map as the East Rises!

As we look at the events, globally, of 2008, and then recall of how proud those Asian faces looked on TV during the Olympics and see, vai this article, how closer the Chinese are to 'shifting' economic power, it is scary.

More interesting, all this was predicted in the 5K year olkd Mayan Calendar, that said the East would assume dominance, taking it away from North America, between 2008 and 2012.

This article is an indication that the prediction is fast becoming true....

Why Higher Oil Prices Are Not a Threat to the Economy

Hey Scott -
Tight Money - Well, when high gasoline/oil/energy SUCKS boatloads of money out of our economy, THERE IS LESS money - WELL, that sounds like 'tight money' to me...

Let me see, if I put 50 cents more per gallon in my car this week than last Monday, WHICH IS EXACTLY WHAT HAS JUST HAPPENED, DO I GET 20% MORE MILES PER GALLON than I did last Monday for the extra money I just spent...AND DO I HAVE the $20 left over (per car) x 2 avg. per household x 4.3 weeks = @$180 less PER MONTH to spend on things that have some real value and put other people to work ?

NO, I don't.

So, since a penny per gallon sucks out $1.47 BN per year from the economy, money that could be used to create more jobs, but now, due to the forces in control, it actually goes into the hands of Gov Sachs, JPM , MS and the hedge funds you counsel...and then on overseas to foreign oil producers...well, I do not see any intrinsic economic value to me and my buds from this ridiculous speculation that has caused these pricing aberrations, not in sync with s/d fundamentals.

That 'the gasoline inventories last week reflected higher demand' - BS!

The oil companies cut back refining capacity significantly a couple of weeks ago as the price was drifting downward to $1.65 RBOB, as it should have been. BUT, Exxon did not like this and they called up Blankfein and says, Hey Bud, how about you guys jack up the markets again as we need to make more money...course, once this occurs, it has far reaching effects suppressing OUR ECONOMY as it sends dollars to a few already swollen Wall Street Pockets and a number of them 'over the pond'.

Things are greatly exaggerated now than before as per the huge amounts of monies now playing carelessly in the futures markets. The swings, and consequences of such, are much more harsh and severe now.

Oil right now today, should be @$69 - 70 based on the dollar and REAL S/D - RBOB should be $1.65-$1.70.

Remember last year's testimonies by Big Oils' CEOs..."we just need $65 per barrel for oil to make a good profit...which translates into $1.65 RBOB and retail from $2.00 to $2.50 depending on state. When the top taxed states hit $2.50 the week before last, that was it...things had to go back up and fast...and voila', they did...and Gov Sachs hath commanded that we MUST see $85 Oil this quarter...SO BE IT!, RIGHT?

The whole thing is a scam, now..controlled by a few greedy financial firms, adding NO VALUE to the natural Flow of Energy TRADING, but rather causing much pain globally. The basic economy needs cheap energy to recover and grow, especially since there is no manufacturing engine in the USA to really drive our growth. Our move to better fuel efficiencies will have to made by mandate - for the 'free market' will result in more wealth for Gov Sachs and ilk, and no future for the maid, the gardener and about 80% of the rest of AMERICANS. When we spent more for energy this simply translates into "more money SPENT for energy'...not more mileage, more goods or services purchased and obtained ! It actually means LESS!

Kudlow, in April 2008, when Oil had shot on past $100, said "it would not hurt the economy" - I scolded him - but within 75 days everything crashed - but he and the WS boys and Bush said we should blame it on housing and sub-prime...

Did anyone add up the losses on commodities in 3rd Q of all those WS firms we bailed out? NO, they only talked about the losses from credit deriatives and mortgages...(of the losses, there was about 30% due to commodity trading...)

(Guess that covers it and most of the comments, too!)
Good Day.

Gasoline and Diesel Fuel Prices: Scaring Investors in Time for Halloween

Once again the name gov sachs jumps up in an article as the "culprit" behind a sinister group that is 'messing with the markets', moving them away form fundamentals and controlling them for personal gain.

What Bob is citing above is "the way it is suppose to work" - you know, natural industry (inventory tax) and seasonal cycles.

The problem ow is this...GS, JPM and MS and seen how they can corral as little as $9BN and situated it in the energy futures market and then sit back and move the price up or down...have you noticed how the Oil and Gas has moved smoothly in cycles of $10 - $63 to $74, and RBOB between $165 and $2.07, in 2 to 4 week swing directions since March..all the time the fundamentals not changing, but with 'excuses' derived form any and all upticks in economic news or mild swings in the currency? See, this alows for them to 'push' up the prices based on these tidbits for two weeks, and then short back the prices after others have flowed in, leaning back on the s/d funda argument for a couple of weeks...only to do it all over again the next month...Just like paying a sweet violin.

How do you like the concert America, just when you are struggling to get back on your feet and the price of gasoline is the fastest and best way to either help or hurt 95% of all Americans, Government and Small to Mid-size business...
Time for this sad song/concert and now new business style to go away!

Where is our CFTC regs we were promised by Obama?....Getting short on patience with that dude too, now.

The Secret Paulson-Goldman Meeting

To: JCC, Aislabe, Stimpy and warm_paw_

Surely you're not that naive or jaded by the profits"!
Do you work for Gov. Sachs?

These guys are 'legal' crooks in my opinion. As Matt T pointed out...they constantly break the law - get fined and pay such every couple of years...but, this is just a slap on the wrist and is calculated in the equation as a "cost of doing business".

You dont go year in and year out making the bread these guys do, and there isn't this growing and constant 'talk' about GS without there being some major truth to the accussations. They "own" the senate now and the Treasury and apparently the SEC and CFTC too.

Until these pariah are shut down, our country will continue to look like the Russin Landscape with strong arm 'bosses' in the back rooms, pols and these guys, making a killing at he top and driving the rst of the country into poverty...step back and look closer...it is there..
Go Andrew!

Jim Rogers on the Next 10 Years

Pssst....

Guess what? The Mayan Calendar predicted this "shift to the East" of "global energy"..(power, wealth and influence) a couple thousand years back...to occur, get this - at this very point in time. Winter, 2012 is the tipping point of the ppwer shift from West to the East...

Pondr that.

Crude Oil and Gasoline Prices: Like Déjà Vu All Over Again

It is good to see that the majority of posters here have "finally caught on"...save Saildog and yank...

If you listened to CNBC this AM (Oct 12th) you would have seen how they are "back in the game of being GS and JPM's shills" (including Kilduff) again to promote higher OIL, Gasoline, Diesel and Heating Oil prices....I had to call them and complain...YES, the energy markets are now controlled by a few WS firms...it only takes $9B to control the global price of oil in the markets...That is not much money ofr these firms and a few of their hedge fund clients to poney up and move the market...

Also, I thought the GS' Murti rolled out the "promotional" $150 to $200 prediction in early May of 2008, setting up the push towards the $147 high, a high that stop at that point as a result of the sense that teh rally was over since the golden boys had already slipped moved mid-June with the "big short", a month ahead of their 'sheeple clients' realizing that "something had happened" to the dream...but, we had a shadow culprit - "sub-prime" to point to divert attention. Hmmm.

Fisking Scientific American on Peak Oil

jerrydd -

It is absurd to say the the world hit peak oil last year when oil hit $147/barrel. Supply was increasing ahead of demand that had already begun to fall...

Rather, that is exactly what those "financial engineers" on WS and down in Houston wanted you to believe, and you do.

The reason oil dropped so quickly from mid-July to Dec. is that the perpetrators of this myth had decided that it was just too risky to continue to promote their nonsense, given the political heat that was building and the hearings that were underway.

It would be a shame if "their games" really were exposed, for then we might just get some real regulation, then "the game" would not be able to be played again this year, and the next, and the next....

So, they shorted, made huge profits on the down side....and were back at it this year, even as Gensler putzed around threatening regulation changes while he dragged his feet and delayed real action.

We won't see those high prices in the near term due to constraints in supply. Rather, we will see them again soon only because of no changes in margin requirements and little to NO transparency in the futures markets..
That's a lot of specualtive profit to see slip away...so

Why I'm Skeptical About Asset Allocation

Oh well,
Here I am back here again.

"Agree with Mike Masters, as he was right and Gov. Sachs and kin were wrong..."
They weren't wrong...they were creating the pricing scenario/bubble that the shills were claiming were s/d fundamentals.
Who do you think was the first to short in June 2008, ahead of the other funds that crashed in the downdraft starting the next month.

Does Crude's Price Reflect Reality?

To Mr. Clark - the answer is simple - Govmad Sachs wants it to rise in price, keeps thier traders business hustling sheeple into their CIF. It's 'Good for Business'...as in their business. They have learned to play the crude and RBOB futures like a violin, moving up and down the pricing range based on their 'news leaks' and "analysis reports"...

To Mr. Big - In studying the movement of OIL and RBOB daily for the last two years...the value of the dollar relative to Oil Prices is very overrated. This, too, was a "handy urban myth" that was used to divert the 'real gaming' going on last year and again this year...

Last June (2008) the value of the dollar was, according to the IMF testimony in Congress, accountable for about $10 premium, max, on the price of crude - that takes it from $80 to $9- at the most...not teh $147 it was heading too...

Today, Oil should be $58 - $61 and RBOB, which is not really an international commodity, $1.55-60 max. Yet, you'd think that the dollar effected this price by $.50.

Commodity Investors' Hedging Habits Not New

But Tim,

Some good points and insight - but it just helps to substantiate the fact, as I have contended for over 18 months, these guys were able to put themselves in such a place that they could make money coming and going. The idea that hedgers should stay long in the commodity markets is fundamental to GS' strategy for make their whole scheme work - in their favor (their bank account), and is a huge obstacle to the proper functioning of the markets for the participants who really need them to work. Further, the net result of long index money in commodities is to drive inflation up, artifically, at the expense of the American People/Economy - and, which at a certain point up the ladder, becomes a 'bubble' and leads to a crash...hurting many.

There is absolutely nothing of value for long players to just be swapped in and out with a 'rollover' by some financial powerhouse, when the net result will inevitable be that many will lose a lot and just a few will profit.

One finally word of caution: it's called the "ONE LAST SUCKER THEORY"...those that come late to the party late and plop down long positions will certainly get burned!!

How many hedge funds and pension funds, that were 'wooed' into the index funds in long positions by certain 'analysts' predicitons of $200 Oil, are NOW NO LONGER HERE??

When Goldman Might Have Failed

Hey Moon,

Let's add to your comments the fact that GS successfully engineered the $147 Oil Frenzy, stuffed their Index Fund Participants into it, at their peril since they were one of the first to short oil in June, ahead of the rest of the sheeple. Their own in-house accounts did just fine, mind you...

Add to this, the fact that apparently almost, if not, each year GS routinely steps over the boundaries and incurrs fines and penalities from the government, but actually just plans to run aground as they look at this as a "routine cost of doing business", a cost to the multibillion dollars they rake in when stepping out of bounds..

Yes, GS (and Big Banks), Big US Oil, Big Ins and Big Pharma have got to go...

Look, these are the 4 Biggest Lobbying Groups in the US - and here are where our ills lie....