G. L. Turner

Oil Futures: It's Not Manipulation, It's Stupidity

Correction: meant 2008 year on profits and taxes...
sorry for the typing inversions. its 2:30 AM...

Oil Futures: It's Not Manipulation, It's Stupidity

My Friends - Finally, this spring, many of you are 'seeing the light'!

for several years, the bush/Cheney/Paulson/Gov Sachs regime dupe the American People, the American Investing Community, the Media and basically, most of the global population and economies.

Their 'experts' told us that it was all supply/demand fundamentals. Yes, they hand one hand in the tub and the other on the faucett.

We didn't have a chance. From the moment Bush/Cheney walked the 2005 US Big OIL company mergers through completely around the Justice Dept. Anti-Trust did not exist in the B/C era, unless you were on their hit list...)

As gasoline has been somewhere between double to triple from just prior to the first merger in late 2004, our purchasing power has been sucked dry to the tune of over a $Trillion, going either into the pockets of Big Oil, Big Wall Street or to a favor few overseas selling us oil.

Regulators were told to 'look the other way'. Half of the Congress was told to stand and fight against truth, all the while helping themselves graciously to oil, GS and WS banks' lobbying money. Get all you can, because the "joy ride" will be over in late June, 2008! Yes, the Bush stimulus would 'pay for the last round of $4 gas' and GS would led a select few out the back door with their pre-emptive short of oil in June 2008 for the July oil contract, having made money every which way from fees to CIFs to owning a refinery and a trading arm. All the time giving 'the Street and its public mouthpiece, Kudlow and the shills at CNBC,
"their WISE and Brilliant Investment advice" - Yep, that there OIWELL am gonna go to $200, so $147 is a sure bet...better get on the BUS...we're leaving in a few...(Beware: Driver has been known to jump off after pointing bus towards cliff while joy riders party!)

Same thing just happened the last 60 days....as to the OIL and Gasoline Futures with teh same ole W/S crowd.

Friends, Stupid are those sheep (funds) who haven't learned that Government Sachs and Pals only give investment advice that serves their pocketbooks....period.

Speaking of Government - Kudlow rails that we don't need Corporate taxes - highest in the world. Almost. Let's see - in 2009, Gov Sachs made $2.3Bn, a real 'of-year'...and paid only $14 million in taxes! Let's see, they were a TARP bank too, receiving $10 BN in near 0% money, right???

The people who are against regulation and fair and reasonable taxes, etc. are those who are 'gaming' the system and know that transparency, enforcement of fair regs and markets, will only upset thier manipulative ways and 'dominance by coup', instead of excellent business instincts and practices!

Is the Commodities Bull Market Over?

The prices in commodoties began to retreat significantly in early June - this was a result of the spotlight beginning to be focused on several key price provokers - namely 4 notable WS Frims, who had, over the last 4 years engineered the CIFs and had talked a lot of Pension Money,etc. into moving into the area. When Congress started pushing the CFTC to take a look, the heat was getting too close...and the Managers of the Pension Funds, etc. who had been enticed into playing the 'passive long commodity investor' game suddenly began to realize the damage their 'asset allocations' were causing to the global economy and the other 98% of their portfolios. So yes,"Investor Sentiment" did change as these fund managers begin to wise up and start to exit theri long positions....add to this the laying off of radical "ginned up" 'analysts reports' and saber-rattling by Bush/Iran/Putin, and things 'shifted' by mid-June. The outflow on monies begin to move back into the stock portfolios and the dollar finally had a chance...so the 'perfect storm' of factors that were driving high prices was reversed and they are working in favor of the other direction...yes, the 'manipulated bubble' was burst.
However, get ready, the bad boyes of WS jsut bought inot the new Dubai Oil Futres Exchange - now they can begin to 'manipulate' beyond the reach of the CFTC shortly....
Round II begins early next year.
G