Freeze_gopher
Well-known member
- Joined
- Dec 6, 2005
- Posts
- 1,543
I don't agree, that is not where these markets began. Hedging a price in advance doesn't matter to an airline if the price goes down? Did you in your time in the pit ever see a futures contract purchased by or for someone who intended to take delivery? Of course you did. Taking delivery, mitigating price is the purpose of these markets, they weren't started to give Goldman Sachs a personal playground. They don't exist so that someone who is not at all involved in that market, i.e. has no stake (no intention to take delivery) in the market at all can short a future. Just because the current understanding of a word is one thing does not mean it is correct. Shall we debate the meaning of the word "is"?
I asked you to go back and answer the questions that I asked in previous posts. Don't derail the discussion with an inane red herring. What have been the effects of the Commodities Futures Modernization act? Why does the Intercontinental Exchange exist? Who trades there and why do they not trade on the NYMEX? I spent a lot of time working in money management, so you being a pro should be able to give me a thorough explanation of the reasons why the price is so high. Show me supply and demand numbers (don't say the Chinese and Indians are burning a lot... they just met with a multitude of other countries to diminish their demand. Plus the EIA numbers do not back up a shortage, they show a very definite surplus.), and show me where the weak dollar is responsible for price. How does the weak dollar effect the price of oil? No platitudes just answer the question.
I asked you to go back and answer the questions that I asked in previous posts. Don't derail the discussion with an inane red herring. What have been the effects of the Commodities Futures Modernization act? Why does the Intercontinental Exchange exist? Who trades there and why do they not trade on the NYMEX? I spent a lot of time working in money management, so you being a pro should be able to give me a thorough explanation of the reasons why the price is so high. Show me supply and demand numbers (don't say the Chinese and Indians are burning a lot... they just met with a multitude of other countries to diminish their demand. Plus the EIA numbers do not back up a shortage, they show a very definite surplus.), and show me where the weak dollar is responsible for price. How does the weak dollar effect the price of oil? No platitudes just answer the question.