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  • Oil Bubble Continues Its Burst [View article]
    we knew at the time that commodity speculation and hedge funds operating at 30/1 leverage were creating bubbles in everything. remember gold at 1040?
    the saudi oil minister told us at the time that there was no shortage of supply and no excess demand in his order books.
    the trading in the commodity pits was at the ratio of 22 paper barrels for every real barrel headed for delivery to a real customer.
    goldman sucks did everything they could think of to push oil above 147 but eventually gravity prevailed.
    > jack
    Nov 08 08:21 am |Rating: +1 0
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