jt

OPEC to Cut Production at Friday Meeting, but Will Prices React?

And yet as some of you bash on OPEC (as though they don't have a right to do whatever they want) or EuroLand (actually just a party to what their bosses want), you seem to miss the elephant in the living room. We have no "free markets" NOT b/c of OPEC. We have no free markets b/c the oversight committee is part of those that have taken over the commodities markets with derivative trades.

Go look at JPMorgain4Elites and their derivatives book. They are more or less now the pseudoprivate/public trading face of the Fed as co-owners, and likely are impervious now to any fraud or criminal charges as they would probably claim "national interest.". They now have over $100 Trillion (yes with a "T") in derivative risk...and if you look farther, most of it is shorts against the entire commodities complex...they hold nearly 90% of the short position against gold and silver for instance on the CRIMEX.

The CFTC was set up to prevent such manipulative positions. They certainly have in the past made a big to-do about "long" manipulative positions, and there was one copper short that had to get religion quick as I recall, but o/w the CFTC has not only allowed it, but when it has been repeatedly pointed out that these short positions are manipulative to the max, have stated they looked into it and found NOTHING amiss. Kinda like a cop watching mafioso bullies beating up a shopowner who's trying to make an independent living w/o buying "protection" and reporting that he saw "business as usual"...nothing noteworthy.

JPM singlehandedly brot down NG futures and then hanged Amaranth out to dry with their long position on NG (esp after Amaranth doubled down their position). JPM then bought up their positions on the mega-cheap and actually hired some of their top people.

This is govt and Shadow govt bankster manipulation of markets. This isn't real world where little has changed in the supply / demand dynamics. And that goes for the entire commodities complex. This is the takedown before the election combined with the gangster banksters doing "everything at their disposal" ...as was stated by their Mafia head here in the States, Comrade HankyPanky Paulson...to keep the sheeple people from taking their money out of the stock market and dollars and putting into the only historical store and preserver of wealth: gold (and silver), esp as the financial system reveals its inner corruption and putrefication.

The rest is just the politicoeconomic MSM (mainstream media) farcical drama given to the sheep to keep them entertained and glued to their TVs while the banksters rob them blind.

jt

Gold and Oil Price Limits

User30121, GMIKI, and bearfund...you're my peeps. The problem is...we're in the minority...the VAST minority. The rest have 1984ingly been brainwashed by governmentspeak. They wouldn't recognize the truth as it was pushing them off the cliff, since there'd be a loudspeaker nearby letting them know that it was some oil company somewhere that had just sent them to their death, that the landing won't be so bad b/c the govt has sent out rebate checks and the family will be able to use them for their funeral.

Following Keyne's principles was one of the hugest frauds (purposely so, actually) ever committed on this country. Anyone who holds him up as some kind of genius to be studied and obeyed should likewise be touting the skill of the marksman who is going to put a bullet in his brain from 1000 meters. Both have killed them just as assuredly, the first financially.

Much better to read Ron Paul's new 160+ page book--The Revolution--A Manifesto. At least then the silent (actually baaaahhhing) sheeple people of this country might start to have a clue what this country was all about, why our founding fathers came here and what they were actually fleeing from and trying to avoid repeating, what has been done to it, and what we can do to to even have a slim chance to save it.

Gold and silver are and always have been real money. The fraud of fiat currency is not a new one...and every one has ended badly for the country and its working class. Don't believe it...but then get your soup dish out and practice standing in lines...bundle up your paper money and prepare it for keeping your family warm on the cold nights that will be coming. Better yet...get that wheelbarrow ready. jt

Oil Bulls' Biggest Nightmare: A Stronger Dollar

Is this a comedy tagteam?...or just another mainstream media mouthpiece for TPTB? Anyone in their right mind knows that nothing has changed about the dollar...the Fed continues to create new FRNs out of thin air at hyperinflationary rates (why do you think they stopped publicizing M3 back in March '06?). The latest estimate was that over the past 6 months they have created new dollar value out of thin air to the tune of 37% annualized!!!! I find it unbelievable that the sheeple people of this country believe that you can have a weak dollar one day, and all of a sudden the next day it's strong b/c the Currency Stabilization Fund has bought up dollars on that day to make it look strong while the anti-gold Cartel has done its thing by selling down and shorting gold and silver. The "strong dollar" policy is a complete lie, composed solely of suppressing the price of gold while intermittently buying up (and getting the Fed's G7 "friends" to buy up) the dollar.

It is ALL manipulated now. The PPT has its fingers into ALL market, tipping over TA dominoes in commodities (gold and silver mainly, but on certain days ALL commodities) and buying enough futures in the DOW to break thru resistance levels to create contrived "rallies"...often Hail Mary rallies at the end of the market day. But their main intervention has been in the gold and silver markets...the true monitor of the value (or more accurately the worthlessness) of our fiat currency. There is no "strong" dollar...just suppression of the prices of gold and silver...and mainly on the COMEX, aided by the Fed's/the Cartel's co-players/co-conspira... on the London exchange and the TOCOM (Tokyo). The rest is just talk based on the lies of the MSM.

The markets have become total interventions...and for the benefit of whom? NOT YOU OR ME!!!...but for TPTB...the Fed and the other intl bankers. They love their "printing press" and the fact that they can pay for and manipulate all markets with their funny money, AND THEN GET PAID INTEREST ON THE MONEY THEY JUST CREATED...interest that WE PAY!!!!

Commodities are going up in terms of the dollar for two basic reasons: First of all, oil, NG, gold, silver, copper, wheat CANNOT BE CREATED ON A PRINTING PRESS OR OUT OF THIN AIR and demand for them continue to increase, esp from the BRIC countries, and even here in the US, where driving patterns have barely changed even with the rising gas prices!! Secondly, dollars CAN be!!!...ie, the more that are created, the less each is worth, the more there are chasing FINITE commodities. It IS very simple economic logic.

Don't believe the twisted lies and rhetoric coming from the MSM...esp coming from the mainstream commodities and financial media...it is worse Governmentspeak than ever was in Pravda...and would have done Orwell proud (in a sick sort of way). Do your own research...don't think you know a thing if your main source of information is the MSM.

jt

Is Oil Overpriced at $105/Barrel?

Vuke...very diplomatic description of Manny's little rose-colored glasses analysis. The most naive part of it is his last line:

"Believe in free market capitalism - it has worked, and continues to work."

Yes, I truly believe that had we had a free market, we wouldn't be having all these problems now...and free markets would be the only way out of it, though painfully (there's going to be pain anyway, but at least we'd be heading back toward healthy). But our markets haven't been free for a long time, and esp not the commodities markets. The gold and silver markets have been "managed" (that's that sugar-coated word for "manipulated") GROSSLY for many years by the anti-gold cartel made up of the Western Bankers, and esp the Fed, their bullion/investment bank lackies, esp GoldmanSuchs and JPMorgain4Elites, and our own Treasury Dept. The Fed(eral Reserve Banks) have made and continue to make a fortune "loaning" non-existent money/FRNs to our Treasury and we keep paying interest on it...costs them nothing...makes them an otherworldly fortune. Gold and silver remain the world's premier currencies, despite the cartel's (and the establishment's that has benefitted from the limitless allowance given it by the Fed) having done its best to brainwash the people that gold is just some "barbarous relic" and to short the crap out of the PM mining shares (ala, TSX) to try to dissuade investors from pulling their monies out of the DOW and the DOG and Treasury bond(age)s and putting them into PMs and their equities. It also has prevented the investing public from seeing just how bad a shape the economy and the dollar are in...the price of gold and silver being one major signpost. (Imagine removing all the signs on the side of the road that a bridge is out up ahead...it creates what is called a "moral hazard.")

JPM in the meantime has had a nearly unfettered hand in shorting commodities out the wazoo (their derivative risk, mainly shorting, is in the $$$Trillions of dollars), and yet an exec order thru the US Atty Genl Negroponte has excused them from following SEC guidelines for disclosure using the excuse that they are operating in the interest of natl security (shows you just how deep the rabbit hole goes, ie, it is our own govt fixing the markets and betting against its own people).

It was JPM almost singlehandedly that drove the price of NG down a coupla years ago, then basically put Amaranth out of business by its shorting without compunction...my guess, and I'd put a million bucks on it, is that they don't fear having to cover, b/c they are covered, by our own govt...and then bought up Amaranth's way-losing positions for pennies on the dollar.

And anyone watching the DOW for the past several years...actually, since ~2002 has seen MULTIPLE, sometimes daily, Hail Mary's coming out of nowhere at end of day, et al, to prop it up on a down day...with NO good reason (oh, not that the mainstream media won't pull one out of their hindquarters...or maybe they just throw a dart at a board containing all "acceptable" reasons...acceptable to TPTB that run the media...the bankers and their lackies). This is the PPT (its important-sounding name is the President's Working Group on Financial Markets) doing their thing by buying up DOW futures thru offshore hedgies, thus preventing the other major economic/financial signpost for this country from showing us what major trouble we're in...the DOW.

And that doesn't speak about the bond market or the removal from public view in March, 2006 of M3 by the Fed, or the manipulated CPI numbers and other bullscheisse coming from the BLS (the Bureau of Lying Statistics) to keep the public misinformed and so unforewarned about the dangers. So anyway, to even suggest that we have "free markets" that will somehow "come thru" in the end is ludicrous. You wish!!! (and so do I)

No doubt the coming depression in the US will affect the rest of the world, but not as severely as it will affect us. The dollar has lost its position as premier currency...you just won't read about it anytime soon. But non-Western CBs, Sovereign Wealth Funds, BigMoney people around the globe are well into slowly converting their worthless dollars into other currencies, and even more into REAL goods, such as gold, silver, oil, gas, companies with rights to the above, etc. The dollar is done...though as I've said...don't expect to read anything about that in the mainstream media until maybe decades after the fact.

jt

Two Explanations for Surging Oil Prices

Good article and good comments. I've read both "sides" yet to be perfectly honest, they are not at ALL comparable. The Peak Oil side uses data...the opposing side uses arguments. An overgeneralization, perhaps, but in my experience, the more people look into the facts, the more they come out on the side of Peak Oil and impending oil armageddon...oil wars...and at the least shortages.

And I agree 100%...the CFR is an organization that does not give a crap about you as an American or other citizen. You are cattle...and once your usefulness, read taxable value, is gone, best for you to be gone as well. Best be thinking outside of the proverbial box...the Time is approaching fast...and one day it will have arrived. Ready? jt

Outlook for Oil: 2008 Thus Far and a Preview of Coming Attractions

Have to agree with you mixter...when one reads investment message boards and sees who the retail investors are, one realizes that the majority are a bunch of lemmings who do neither DD nor have any kind of a plan other than to "get rich"..."to da moon!!"

Another part of the problem is American's unsinkable ignorant belief that we are participating in open and "free" markets. The fact is that they are now being manipulated..."managed... for those who object to words they find politically incorrect...beyond all belief of the common investor as well as most of the investment "analysts" (there's another topic).

Those who think they are being scientific by following TA are just as easily abused. They fail to give sufficient weight to the fact that TA is ALWAYS backward looking, ie, whatever happens is what is determining what is supposed to happen. BUT...in a manipulated market, those with the power and money to manipulate prices also have the power to manipulate the TA. They now where the support lines and trend lines and wave lines are...and they they have the power to push prices above or (infinitely more commonly now with commodities) below those lines and watch the dominoes fall as the "smart" money sells as instructed by the TA.

Just look at the gold and silver markets. Those who have made an absolutely ungodly fortune from selling fiat currency to our Treasury and to the world (currency that cost them absolutely nothing and now doesn't even require paper!!...just electrons) have been manipulating those paper and even physical markets for years, even decades. One of their major coups was to "train" the market that the "shares confirm the metal"...so that if metals were up one day, but shares dropped, that meant that the metals were going to fall the next day. Sure enough, it became a consistent enough pattern that they could get enough coattail following from other "commercials" and specs, that it would happen. So then they would simply go into the equity market, as they have been doing for many months now, and short the crap out of them.

Anyway...it would appear that the Gold Cartel is now facing the Commercial Signal Failure where those who followed their manipulations and previously profited from them are so far underwater shortwise, that they can no longer bear the pain and are covering. THAT is when you start to see the TRUE fundamentals FINALLY starting to come to public notice.

Same with oil and NG.