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The U.S. Commodity Futures Trading Commission (CFTC) is planning to issue a report next month that suggests that wild swings in oil prices were significantly driven by speculators, the Wall Street Journal reported on its website on Tuesday. A 2008 report by the main U.S. futures-market regulator that attributed oil-price swings primarily on supply and demand was based on "deeply flawed data," Bart Chilton, one of four CFTC commissioners, told the paper in an interview on Monday. The CFTC did not reveal preliminary figures from the report to the paper and declined to discuss the previous data. Reuters attempts to...

Big speculators such as hedge funds and investment banks have sharply reduced their buying positions in oil futures in recent weeks, just as regulators are considering setting limits in energy speculation. The drop in speculative positions likely contributed to last week's 10% slump in oil prices -- the biggest weekly loss in six months, analysts said. Long, or buying, positions held by non-commercial traders, a category the regulator uses to classify big speculators, dropped by 16,382 contracts in the week ended July 7, according to the weekly Commitments of Traders report released by the Commodity Futures Trading Commission late Friday....

‘Rogue broker’ blamed for oil spike By Javier Blas and Izabella Kaminska in London Published: July 2 2009 12:07 | Last updated: July 2 2009 20:26 The startling spike in oil prices to their highest level this year on Tuesday was caused by a rogue broker who placed a massive bet in the Brent oil market, triggering almost $10m (€7m) of losses for his company. PVM Oil Associates, the world’s largest over-the-counter oil brokerage, said on Thursday it had been the “victim of unauthorised trading”. The privately owned company said that as a result of the unauthorised trades it had...

Air France pilots battled for up to 15 minutes to save the doomed flight that went missing over the Atlantic this week, electronic messages emitted by the aircraft have revealed. Details have emerged of the moments leading up to the disappearance of flight AF 447 with 228 people on-board, with error messages reportedly suggesting the plane was flying too slowly and that two key computers malfunctioned. Flight data messages provided by an Air France source show the precise chronology of events of flight AF 447 before it plummeted into the sea 400 miles off Brazil on Monday. These indicate that...

Florida-based radio station KissFM reports that Patrick Swayze has died. So sad if its true

Although the CDC has not explained whether the current swine flu outbreak in Mexico and the United States is bioterrorism, influenza can be very readily manipulated and may be one of the best candidates for weaponization for several reasons: 1) Terrorists can prepare a vaccine to protect themselves and their host populations in advance of its release. 2) Influenza is airborne, it is transmitted through either solid or lipid aerosol, therefore it’s easy to spread. 3) There is a normal period of incubation during which time the carrier displays no symptoms, but can infect others. Therefore, dispersion is very efficient....

In a discussion this morning with a cell biologist and medical doctor working at Johns Hopkins, my friend thought this 4-part flu combination is highly unusual and looks like it could be man-made. Especially because it has an avian strain. My doctor friend (he's Taiwanese) explained that in Asia, it's common for a avian-swine-human flu to happen naturally, but this virus first showed up in Mexico, where pigs and ducks are not usually raised together. Also, recombination of more than 2-different flu viruses is extremely rare. I'm just repeating what he said as an expert in the field. He says...

The recently released Department of Homeland Security assessment of rightwing extremism represents an alarming politicization of that huge federal agency. The 10-pages document is entitled: "Rightwing Extremism: Current Economic and Political Climate Fueling Resurgence in Radicalization and Recruitment." Its source is the Extremism and Radicalization Branch of the Office of Intelligence and Analysis Assessment, of the Department of Homeland Security. (Imagine the size of their security badges.) Read it here. American Thinker Jim Byrd's article entitled "Is Texas A Terror State?" provides a catalogue of transgressions that cumulatively define rightwing extremism. Byrd concludes that, when measured against Governor Rick Perry...

As state budgeters look toward another multi-billion dollar budget deficit this summer, attorneys for the Legislature and Gov. Schwarzenegger have issued a new opinion reaffirming the legality of a plan passed by Democrats last December that raised revenues without requiring a two-thirds vote. The March 9 opinion from Legislative Counsel Diane Boyer-Vine, addressed to Gov. Schwarzenegger, reaffirms a 2003 opinion by her office that finds a bill that raises one tax and lowers another by an equal or greater amount only needs simple majority votes in each legislative house. “We think that a tax bill is not subject to the...

How Goldman Sachs was at the center of the oil trading fiasco that bankrupted pipeline giant Semgroup. When oil prices spiked last summer to $147 a barrel, the biggest corporate casualty was oil pipeline giant Semgroup Holdings, a $14 billion (sales) private firm in Tulsa, Okla. It had racked up $2.4 billion in trading losses betting that oil prices would go down, including $290 million in accounts personally managed by then chief executive Thomas Kivisto. Its short positions amounted to the equivalent of 20% of the nation's crude oil inventories. With the credit crunch eliminating any hope of meeting a...

Details remain vague, but The Juice has just learned that authorities believe they have found the body of Natalee Holloway, the 18-year-old from Clinton, Miss., who vanished in the Caribbean island in May 2005. A Miami-based flight attendant for American Airlines tells The Juice that a cadaver dog was aboard a Miami-to-Aruba flight. The officer with the dog was going to search for the remains of Holloway. "They think they've found where Natalee Holloway's remains are, and they're taking the dog down to confirm that," said the flight attendant, who lives in Fort Lauderdale. "They're not telling anybody because Aruba...

About the only economic break most Americans have gotten in the last six months has been the drastic drop in the price of oil, which has fallen even more precipitously than it rose. In a year's time, a commodity that was theoretically priced according to supply and demand doubled from $69 a barrel to nearly $150, and then, in a period of just three months, crashed along with the stock market. So what happened? It's a complicated question, and there are lots of theories. But as correspondent Steve Kroft reports, many people believe it was a speculative bubble, not unlike...

Last night Ed Hale presented the (heretofore, unseen) divorce decree on Plains Radio between Obama's mother and Obama Sr ( her FIRST marriage). The key bonus in this was the revelation of the specific version of her name in the decree, Stanley Ann D. Obama. Using this precise name variation ( the abbreviated, initial "D" --instead of 'Dunham', was the cipher that broke open the search), they are claiming to have now located a POE (Port of Entry ) document that Obama's mother provided when she returned to the US with her son--soon after Obama's birth, (allegedly in Kenya). The...

Barack Obama's upcoming presidency gives many reasons for conservatives to be concerned. All the more reason that we stick to substantive provable issues, as opposed to chasing such illusive rainbows as his alleged lack of a birth certificate. Such preoccupation adds to the bad name already accorded legitimate "conspiracy theories."

Precious metals markets were quiet on Friday. That is, up until the last few minutes when that little line on Kitco's live gold chart went vertical for what amounted to about a $7 gain for gold. Citigroup's (C) report the other day will certainly add some fuel to the fire when it comes to the debate over the future of gold prices. They figure the yellow metal could rocket as high as $2,000 an ounce sometime within the next two years, possibly before the end of next year, as all the government stimulus money works its way into the system....

Insight: Annihilation on Main Street By Mark Sunshine Published: November 27 2008 15:54 | Last updated: November 27 2008 15:54 Warren Buffett called credit default swaps “financial weapons of mass destruction” and they are about to annihilate Main Street. In a disturbing new trend, international banks are creating syndicated credit facilities that “weaponise” credit default swaps (CDS) by using the trading price of a borrower’s CDS to set the interest rate paid by the borrower. Unfortunately, banks don’t understand that they are arming speculators to ambush and kill unsuspecting and otherwise healthy companies. Regulators are oblivious to this danger as...

I can't give any more details than that, but I GUARANTEE that McCain wins NV by 5-7%...GUARANTEE!!! That should mean good things for many other states on election day, and expose these polls for what they are - tools of the MSM. Please help me with what a 5-7% win in NV means elsewhere...

OPEC left to its own devices Commentary: Hedge fund redemptions lay bare the role in oil speculation By MarketWatch Last update: 2:52 p.m. EDT Oct. 17, 2008 The following First Take is real-time analysis and opinion by the MarketWatch commentary team. SAN FRANCISCO (MarketWatch) -- The Organization of Petroleum Exporting Nations has called an emergency meeting for Oct. 24 aimed at halting a precipitous drop in oil prices. Crude, despite an uptick Friday, has crumbled to $72 a barrel, half the price it fetched in July. See Futures Movers. Funny how fast things can change. Gone is the steady drone...

NEW YORK - The stunning collapse in oil markets accelerated Friday, sending a barrel of crude plunging below $78 as investors grow more pessimistic about resolving a mushrooming global economic crisis. Oil hasn't been this cheap in 13 months — a rare silver lining for consumers amid a rapidly imploding financial landscape.

Caveat: None of the following is to be relied upon by anyone for anything. Anyother words, I have no idea what is going to happen in the financial markets, and if anyone tries to tell you differently, they are a bloody fool!!! That said, before going to law school, I was a stockbroker (I know, I know, next it is selling used cars). I remember looking at my Quotron in 87 and seeing the Dow drop 25% in one day! Never paid much mind to the charts (was always zeroed in on fundamentals).... BUT, recently, when I looked at the...