We need to be cautious.
The left redefines common terms to demonize their opponents and to excuse themselves.
What is “speculation?”
The left (headed by none other than Obammie the Commie at this time) is trying to demonize “speculators.” By using that term, what they are trying to demonize is those who invest in the futures market.
There are two types of “speculators” as being discussed. But there is only one true type of speculating regarding the markets. The other type is not speculating at all.
Speculators do nothing more than invest in the current price of a commodity. This no more controls the price of that commodity than a gambler who bets on the final score of a game contributes to the score of that game. Sometimes the gambler wins. Sometimes they lose. But speculating on the futures market is good for the people. It helps to ensure the flow of commodities to those who need them.
Now, what is being conflated with “speculating” is what the mega-firms like JP Morgan, Chase, and Goldman-Sachs are doing. They are buying up actual crude, storing it in massive tankers, and refusing to deliver. In short, they are withholding supply in order to drive up the market price. They bought when it was cheaper, held it off the market, manipulated the cost in part by devaluing the currency, and will sell at a massive profit when they finally deliver the commodity.
This is NOT speculating. This is none other than the old “trust” style of manipulating the market. We have anti-trust laws on the books that should be applied to this activity...the same laws that the left love to tout as saving the little guy from the evil rich mega-investors. Of course, these are the people who backed Obammie and his Commies, so they are being given a free ride.
Meanwhile, Obammie the Commie is going to investigate the legitimate type of speculator, the lower-level investor who is just trying see an ROI on a risky investment.
Again, the leftists are trying to demonize the free-market side of the equation while protecting the “Corporate Socialists” (those enterprises that collude with the government for monopolistic control over a market sector and to eliminate competition).
You are 100% correct. Up is down and down is up.
Just like Hugo Chavez. Haven't heard from him since Egypt exploded, what is he up to these days?
I disagree. Perhaps there is a technical distinction that is being lost. Speculators who hold the physical assets are great.
There is nothing wrong with that, and they can lose as well. The old fashion land speculators, actually owned the land and went bust.
Today's problem are the speculators who 'buy' something, ie ETF's, Oil, without the physical delivery.
Finally, it is the fault of both dems and repubs, not simple rats. Dunno why your pushing the idea that Rats are only responsible.