Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
Posted: Wed Apr 23, 2008 7:55 am Post subject: Re: World Dollar crash?
The $ crash is just the beginning. The dominos are in place and will all fall. It is a world wide crash. Don't think it can't happen. What's left of the oil will be fought over and blown up.
Posted: Fri Apr 25, 2008 8:08 am Post subject: Re: World Dollar crash?
MrBean wrote:
MrBill wrote:
Well, yes, Mr. Bean, however, I am not an economist, I am an investment banker and an energy trader. I put my money where my mouth is everyday, so I have to understand micro- and macroeconomics as well as finance and the time value of money. Not to mention foreign exchange trading and money markets.
OK, and in a such job it is important to keep the happy go la la land singing the happy go la la tune. And best tactic to convince others is to be a la la believer oneself.
Quote:
Please feel free to attack any of my arguments with your own facts & figures as well as ideas.
After you, for example do you agree or disagree with what I said in the part that of my post you didn't quote or comment? But even humble ignoramus like me has read enough to know that those figures are not generally worth the paper they are printed on, OPEC reserves, GDP, rigged inflation numbers, rigged employment numbers, PPT rigged stock exchange etc., the whole field of mainstream economics of market fundamentalism that almost categorically ignores the empirical methodology and intellectual honesty that is required for a field of science.
Quote:
However, flinging insults does not impress me.
If you take my refusal to be impressed or intimated by pompous titles and job desdriptions as an insult, that is your choise. In that case I cannot but recommend less pompousness and more honest soul searching so that your fragile ego would not feel so easily insulted.
Investment banker! You mean you put other people's money where your mouth is everyday. Now I know why you can't understand petrodollars posts. Are you part of that, as you quoted last year, sub-prime "bump in the road." At least the junkie bank robbers are up-front about what they do, you hide behind the title, investment banker.
Posted: Mon Apr 28, 2008 3:43 am Post subject: Re: World Dollar crash?
You're right, Manu, it sucks to be me! ; - )) _________________ The organized state is a wonderful invention whereby everyone can live at someone else's expense.
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