Part of it is the speculators….

Well…I’m just getting ready to go out and do twenty on the bike and wanted to get this thought out on the turmoil in the commodities markets over the past week where we’ve seen silver fall almost 25% and oil down almost 12% in the past three days. In the case of silver, the trading board that governs these trades raised the margin percentage that traders had to risk in the market; making it more expensive for traders to speculate and drive the price up. This is exactly what I advocated last week in the case of oil and the results were exactly what I and some of the experts predicted; that when the traders actually had to put skin in the game they would flee like the rats they are. Even though we’ve seen oil correct over the past few days, I still advocate raising the margin percentages there, too, since it has been way too easy for speculators to maintain their grip on the market and manipulate it in their own interests… a tax that we pay to the rich who don’t care at all about tanking the economy just so they can line their pockets….geez…

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>