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is that the standing and texas brought to you by jack that
every so often will prices go off so much
and you know there was a excuse of all libya this than the other thing
and they've gone up over dollar in the just last year and an open obviously over the last
couple months
discovery even further
uh... but then recently happened to them on captured in the last week
they started proper separatist
and as soon as i saw the troubling i was like yeah
or still in the oil speculators
because that now why does that happen
so this is very important
what they do is
and only in the normal supply and demand you know there's so much and pointing at from
saudi arabia in the gulf coast in satara and and the demand is you know china india america
it said oh we all
uh... one and and and you know uh... there is growing demand because china's growing
in his front everybody knows his stuff right
and were supply meets them and is where your prices econ one oh one
but once you get the speculators it
they actually wind up increasing demand tremendously
not necessarily for the gas that people are actually using the whether they're using the
factories
but for the commodities that they are buying so they're buying loyal that in a trade
and so for every barrel of oil sometimes they'll but that thousand barrels of oil
we've talked about this in the context of what they did with home mortgages
now they're also doing it with a lawyer
so when that happens
prices start to increase and and and they do that on purpose so for example
a company like goldman sachs and that's a dismal mistakes but a lot of the banks have
done this
they'll say hey you know what
they will take their own proprietary trading meaning did on trading of the company does
we're gonna back to the price of war goes up
then it will take their clients' money and a lot of times that's their pensions
they'll say you know it's a genius place invest
so they'll pouring trillions of dollars of their clients' money deploy like that's what
happens well prices go up
and then at some point in order to make three times the money because they make money one
them
price goes up because they were betting that would go up that's a long position
they make money off of all that commission
as they got people to invest in a while
but they also gotta make money on the way down so what some point they will short the
stock or in this case
short book commodity
what that means is they bet that the price goes down
and at that point they send out the panic alert every
yes what happened
at the end of april
goldman sachs
put out a report saying
well i've been a while prices are going on
and everybody start a parent
and you've got the result of that was what you saw at the end of last week
now all the sudden oil prices go down that a little bit
but a lot
now that's good for you and i
but what happened
macro goldman sachs got paid
at the last end of that that
but the people that school because it's always so it's good
is all of those investors
simple sex in the big banks like that they kinda reminded donald trump
not donald trump those obtuse huge brand
biggest people invest
and then when things go sour he takes all the money made
for running it for commission for this for that but the name of uh... value etcetera
and he goes bankrupt egonzalez at a premium and have you shouldn't invest it in that
i was a more savvy investor the new york
and allot of people and use automatic get in the home mortgage mortgage situation
goldman sachs of other companies like missing talks a garbage
but who cares who sell the scrapped or investors
that those patients
that you and i hold at some point b pigan knows that you don't even realize why
why couldn't i think that's the lowest i
animated sell what it was well
they need the money in the name
right word for those investors who also will wind up becoming us anyway great
but then the extra robbery constant higher gas prices
and even goldman sachs in mid
uh... in a report that they put out and this is classic
they said that for
every
uh... million barrels of oil that are that's held by speculators
it that real results in the eight to ten cent per bell rise in or oil prices
i did all the map for your base our orders article that this was a
when you talk about how much it was called but will speculators annual use goldman sachs
formula
that means every
gallon of gas that you and i buy it
had about seventy fifteen sent
premium on it
for money that speculators were making we did not need to pay that hot
date at the exit seventy eighty cents
from telling
and put it in their pocket
and they say less than were clever investors that's the way it works that day
so all of you at the peak
all of that extra money that went straight to that
and then they laugh all the way of the bank
and by the way why is this happening now and it seems like when i was going to begin new
stuff
there was a brilliant article and delete finance dot com by bruce watson
that explains
in two thousand what do they do
it was at the same commodity futures
modernization act
that let them uh... do unregulated derivatives in places like home mortgages
also let them do unregulated derivatives
over-the-counter uh... trades
prices on and on commodities like oil
and guess what happened
since two thousand i'm up uh... and on
there's been more and more speculation
in reliance on the price run-up all the way in
into that's evident nearly two thousand eight
the gas prices skyrocketed and then they dropped like a rock
just like it's happening now
do you know that at that time and this is another stunning fact
eighty one percent of gas contracts
on the
and why any access one of the exchanges there
were held by speculate
eighty one percent of the contracts held by spectrum
that's why you're prices went up
that's why they went down that's why they made money off of you for or all of that time
and they're doing again right now
so when the republicans tell you all the trilby vitro wide-eyed
jello
if needed
all the drilling the republicans want
it would at most increase
i'm sorry decreased gas prices his remember we don't get to keep the gas we don't keep
the gatekeeper or it gets old on a world market where tiny percentage of ap world market
and a best-case scenario
that decreases gas prices for might three cents
meanwhile
the speculation
that the republicans do
is increasing gas prices
by seventy-two eighty cents per gallon
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