Our freedoms and security, fought and died for by Canadians and their allies, are under attack. The biggest threats to our freedom are too much government, the eco-lobby, and censors posing as human rights commissions. Our biggest security threat is Islam.

Saturday, June 7, 2008

Oil Speculators are a Serious Problem

It is finally dawning on even the dullest of the left wing media population that there is no actual connection between supply and demand as reflected in today's oil prices.

For years our economically illiterate left wing media has cheerfully regurgitated the lies proffered by so-called experts in the energy industry as to why gas happens to go up in price before increased demand even happens, such as before long weekends.

I blame speculators, as do an increasing number of honest observers. Speculators have perverted the concept of free markets in a never ending, leech-like attempt to profit from a basic necessity. The main reason for this is that they are allowed to control product prices without assuming the full risk. Our ridiculous commodities system (NYMEX being the worst example) allows them to control markets without actually buying and selling the product! I've heard that you (mooching brokerage houses) can control oil contracts for less than five percent of the actual value of the oil. What is up with this? Playing with the value of a basic human necessity? Why don't they mess with orange juice futures like this? Because we could do without and tell them to go f--k themselves, that's why.

I sincerely hope there is a special place in hell for these people.

Wait a second, you say— free markets are the best way to determine prices! Well, I agree- they are, when the market is truly free. But it isn't. The commodities market is an exclusive club of ultra huge trading funds that can make a profit (and do) on four decimal places. The worst part is that these moochers, who do not actually create wealth but live off the avails of others, think they are actually valuable. They'll brag about the way they increase shareholder value while their shareholders go bankrupt from the artificially high oil prices they have created.

Speculators do not produce wealth. They are a tax on wealth creation. Oil speculators are people who make their living by exploiting the demand for a basic necessity without having the balls to actually assume the risks of buying and selling the product.

The sooner we close this leech loophole the better. Make these freeloaders earn profits the honest way, by trading the product itself, not some Frankenstein-like bullshit facsimile.

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