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View Full Version : that against speculators of the NWO in oil begins




scandinaviany3
06-23-2008, 12:53 PM
http://www.cnn.com/video/live/live.html?stream=stream2

Post conference news write ups on yahoo

http://biz.yahoo.com/cnnm/080623/062308_energy_speculation.html?.v=4

http://news.yahoo.com/s/csm/20080623/ts_csm/apricepause

scandinaviany3
06-23-2008, 01:26 PM
if too many US companies fall do to increased oil prices...then wont this open up a need to bring new companies, truckers, etc from mexico? I would expect this to happen soon as an answer...very sad...

Lord Xar
06-23-2008, 02:43 PM
I can't watch this at work, give us this in layman terms - on what is happening?

********

I read something about McCain saying "Borders get in the way because of the tariffs" -- believe he was talking about mexico. I thought they would use the "dollar" collapse to bring in the NAU, but oil sounds about right.

please give us a synopse of the above video.

scandinaviany3
06-23-2008, 05:00 PM
Lot to summarize:
Best to watch this later on in the archives.

But some of it was interesting to comment on:

-arguements everywhere on whose data is correct.
-congressional group data showed groups that buy oil vs speculate had flipped from 70% contracts/30% speculation in 2000 to 30% contracts/70% speculation. Obviously flooding market with speculation of 13 contracts to 1 actual contract for available oil was going to massively disturb the prices. Each buy the chairman noted would continually raise the floor on the price.
-testimonies of leaders in airlines, trucking, home heating are being hammered and will be forced to start sending on for airlines 20% ticket increases, trucking companies are shutting down everywhere(limiting resources)--my guess mexican truck drivers will all of a sudden show up :(. Home heating for seniors plan to sky rocket if commission doesnt shut down the speculation and put fear into them now.
-Estimate of 25%-50% drop in cost of a barrell of oil several experts stated to the panel if speculation were put back under 2000 laws.
-US commissioner is awaiting further data to review speculation in the market until september. Call for this data went out for these speculation groups but didnt expect any replies until mid july on. This didnt sit well with many on the committee. The commissioner was given a very hard time by the sub committee.
-concern by congressman that constituents want answers now
-current bill discussion on limits on posts and margins were discussed.
-NyMEX has fixed contract limits per day of like 3000 in 3 days to limit maldisruption of prices. But ICE did not! This is the ICE ? group based in atlanta with holdings in UK. This is the group that they brought up had a past action taken on other malinvestments in the past.

-major light shed on foreign holdings not going through US regs. and in these cases UK and Dubia were brought up that US would have to "negotiate" with the other side was the opinion of the british rep of ICE and NYMEX and for the US market based competitor. British ICE rep said that no issue for doing whatever the commissioner needed since the US and UK groups talked 2 to 3 times a week. So not like things dont get done. Past US regulator stated yes, but the current effort has taken several weeks to just agree on simple items. Congressman Burgess didnt like this at all.

-former US regulatory member argued not true on whether ICE could be regulated, but in case of ICE they were given a letter by US commission that would have to be revoked to allow them to be regulated in the US. If this letter were removed then this would make it so they would have to go through same as US competitors. Challenge was that these ICE operations were based in atlanta, traided chicago and west texas oil trade. Also that the oil was excluded in farm bill enron loopholes...etc.

It seemed obvious answers swirled why any group wouldnt have to sign up in the US if they were based here but had holdings office somewhere else. Obviously all sides saw this wasnt good, gave them special powers, that the US NYMEX group did not have.

This made it so the US agency had to negotiate with the UK counterpart any time a change like the 11 dollar rises in oil futures were mentioned. There was not instant emergency powers avialable then to prevent any runaway or crash do to malinvestment in this setup without bring in the foreign counterpart agency and to get them to agree that we are correct.

This made people feel very unhappy on the committee.

Obviously this came down to globalist philosophy vs US and who was more important. WTO players or US citizens.

The british guy brought this up with comments of being a global market and patted the past regulator on the back and said some people are worried more on domestic items. I do not think this guy realized this was a dumb move. By the end he had the whole committee frustrated with him. Looked like ICE was to be the sacrificial lamb and target that the committee focused legislation and the commissioner to go after.

This hearing group on oil and energy costs it is definitely important for people to keep an eye on and turn up the heat.

My guess is that congress needs to draft legislation and put a fire under yet under adminstration group to stop yet another immoral multinational to stop breaking the rules and for seeking special priviledges!

Only Rep Barton of TX for a time was being nice on things. But the british guy got under his nerve when he found out that they had a sweet heart deal. That is where the Dubia deal came up with the same issues for the american company trying to setup a similar structure. The NYMEX leader said if something were a problem then the dubia traded group would have to be negotiated with.

The NYMEX rep, and the ICE(international oil exchange in london) were all worried about having to register with all the countries off the world for so many millions and their time. Second that if too much regulations were put in place that the bases of these operations would move off shore. This didnt sit well with the committee who understood we had 25% of the world useage right now, and the groups are begging to get into our market. Banter happened for a while. Many congressmen were like..so what you have to register anyway in each country. You have to do this anyway. Much to their shock the NYMEX leader stated no that is not the case.

This is all worthy of some serious movement focus.

I took note congressman burgess of Texas was on that sub committee. :)

For all those in Denton TX make sure to review this video, same with congressman barton's group.

Sounds like in a week or less the US commissioner could revoke the letter, crack down on enforcement and a 25-50% reduction in the price of a barrell of oil could occur.

So at 134--that mean 70-100 dollar a barrell oil.

That would sure mess up the supply/demand arguement and plan to go after iran...

scandinaviany3
06-23-2008, 07:23 PM
update posted

The Good Doctor
06-23-2008, 07:59 PM
Well someone has to lose in speculation too.

And by the way, they aren't speculating on oil. They are speculating that the dollare will continue to lose value thusly creating an opportunity in oil. And they are right.

Sad part is, this is the Fed's fault for pumping out so much money to create runaway inflation.

PS Oh, and I forgot. As these countries holding US dollars dump them to buy stronger currencies, this just pours gasoline on the fire since there will be more dollars floating around and that creates lower value in the dollar which then you need more dollars to buy said oil.

Find out who the speculators are. I would warrant to guess that there are a lot of oil men betting on these futures too.