Loading ...Oil dropped yesterday starting at 9:30 in the morning. THIS morning oil crashed again at 9:30 morning by about 4%.
The manipulative B/S media announced……
“Oil dropped this morning because “Iran” said the oil production freeze was a joke”.
What a load of CRAPOLA. The Gov’t media is a joke. Oil is slightly up now. Countries can’t talk, only PEOPLE can talk. The media NEVER reports the NAMES of the people that allegedly said this or that for the “reason” for a market move. The ups and downs are simply the hourly, daily or weekly “pulse” or “breathing pattern” of the markets
The irregular erratic or unsteady prices, (“pulse and heartbeat”) is because 85-90% of the futures market, is comprised of short term heavily margined gambler/traders that really don’t even belong in the market. They won’t make or take delivery. They don’t have an oil well to pump, and they don’t have a million gallon tank to store it like T. Boone Pickens does.
Them being there is because the gov’t wants them there. They are being USED by TPTB like a “shock absorber” between the ultimate long term physical producer and ultimate long term physical buyer or user. Steel producers and General motors for example need to lock in long term price agreements.
And lets not forget the big pig at the trough. Gov’t lacky Goldman Sachs moving markets when told or allowed to. Wage and price controls from the late ’60s and early ’70s is still happening.
The erratic prices are caused by the minute by minute decisions of thousands of short term heavily margined trader’s fear and greed emotion, from watching charts and reacting to “news” events and jumping in and out willy nilly.
And lets not forget the big pig at the trough. Gov’t lacky Goldman Sachs moving markets when told to. Wage and price controls from the late ’60s and early ’70s is still happening.
And THEY are manipulated by price action, and gov’t media. I remember when Uranium was in a bull market. TPTB decided to put Uranium on the futures market, and after that down it went.
If they put the Super Bowl on the futures market, the viewers would determine the who the winner is, not the players.