Loading ...Isn’t the COMEX futures market the same artificial supply demand thing? Where the players are actually “voting” the prices. My friend used to buy Oil and Cocoa. But he didn’t even HAVE any Cocoa or Oil to sell. And he certainly didn’t want or need any Oil and Cocoa. I think 80% of futures contracts are phantom contracts.
I remember times when a frost was coming to Fla, so all the gamblers start buying OJ contracts, and drove prices of CONTRACTS way up. It didn’t get any higher at the super market.
I remember when the gov’t helpers Futures market players (like Goldman Sachs) put the Dollar down to 72 to help the USA export, but it pushed Oil up to $145/bbl, WITHOUT excess demand. The abnormal fake high price $145/bbl caused investment and over production on top of less use by consumers $4.40/gal at the pump. And bingo, a falling price to $28/bbl.
I’m optimistic for the future, because the present is so bad and future looking worse. In 1975 I was pessimistic for the future because THAT 1970 present was so GREAT but I saw and heard things that suggested the future was net down hill, like a ball going down the stairs. Couple of fake booms on the way down.