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February 27th, 2013 | #22 |
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I've said before many times that jewwatch is not a credible source. Makow is a known jew and known jew apologist-exculpater, which means liar. So don't be surprised when you cite either of these and get banned for lying. They are not credible sources for determining who is a jew. If you aren't capable of determining a source's credibility, even with honest intentions, then you are beneath the intellectual caliber we want here.
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February 27th, 2013 | #23 |
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If America didn't get a barrel from Saudi Arabia, we'd be fine. They're the only real Middle East country we get oil from and it doesn't even account for 1/8th of our imports. Right now, the Dakotas and Texas both have found more oil in them and it is expected that we will increase oil production in the country by about a 1:1 ratio of what we import from Saudi Arabia.
Russia produces 9.5 barrels of oil a day an only exports 5 of them. America could have easily gotten oil from Russia instead of "the Middle East." Iran produces 4 million barrels a day. Not only has America not used a drop of it, it is waging economic and electronic warfare against Iran. U.S. oil policy sucks the big one. |
February 27th, 2013 | #24 | |
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The problem is never speculation and always the government bailing out losers. |
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February 27th, 2013 | #25 | |
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The usual suspects then claim the latter was an example of the 'failure of private enterprise,' when it wasn't private at all. |
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February 27th, 2013 | #26 | |
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At base, people won't tolerate the spontaneous volatility of capitalism - thus every capitalist state votes itself into socialism, at the behest in part of Bourgeois intellectuals whose livelihood is only facilitated by capitalism itself. ''Class warfare'' is bullshit, for reasons outside the scope of this thread - its conceptual assumptions I mean, but it is in fact true that the body politic in capitalist states works to destroy the economic order on instinctive grounds. Pointing out that regulation is ''bad'' is on the order of Plato or Solon pointing out that men who aspire to politics are ''bad''. Its correct but it doesn't tell us anything about politics. There's an irrational preference intrinsic to man's psychology that opposes advanced capitalism - thus the greeting that Spaniards afforded one another in the early 20th century, ''let no change arrive/occur'' or something on that order. One of the ironies of the 21st century will be that states like Russia and China will preserve capitalism longer than America and Europe, simply because they'll enforce an authoritarian punitive regime against people who agitate for its destruction as enemies of the state and opponents of the national interest. |
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February 27th, 2013 | #27 | |
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Even though West Texas Intermediate represents less than 1% of total production. All the other grades of oil, from Alaska to the Middle East, are priced according to this benchmark. |
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February 27th, 2013 | #28 | ||
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Look where we have gone in 100 years of advancing government control, or socialism, in the US. From free and without debt to unfree and bankrupt. I don't care who says otherwise, it is possible to avoid that transition. |
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February 27th, 2013 | #29 |
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It's pointless to argue about the merits of regulation v. free markets when the Jew controls both.
Capitalism is free enterprise a la Jew. Where those with money can use the government to steal. Socialism is Jewish agitators co-opting the inevitable backlash. And promising other peoples money in exchange for votes. Whatever side you support, the middle class is going to get squeezed out of existence. |
February 27th, 2013 | #30 | |
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February 27th, 2013 | #31 | ||
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Hoppe deals with this point effectively - but his historical analysis is at odds with political and economic realities: Fixed political structures can't co-exist with capitalism, unless they are nakedly authoritarian. |
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February 27th, 2013 | #32 | ||
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February 27th, 2013 | #33 | |
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How so? Do you view the EU, America, and the UK as ''capitalist''? I don't. They're mixed systems that are in the process of implementing socialism. Yeah, there's lip service afforded to monetarist concepts but in terms of actual policy application, it doesn't mean anything.
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February 27th, 2013 | #34 | |
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Standards are necessary. You admit the price is adjusted based on quality determinations. The same thing happens at grain elevators and cotton gins. That doesn't make it nefarious. |
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February 27th, 2013 | #35 | |
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What the NYMEX tells us is the price of oil is a fraud. When oil companies unanimously peg the price of oil and gasoline to a mechanism they know is fraudulent then they are guilty of price fixing. |
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February 27th, 2013 | #36 | ||
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(Note: Anyone else would, too. It's called arbitrage, and it's why your theory isn't found in reality.) Quote:
Again, one could make this argument about wheat elevators in Alberta or cotton gins in Texas. The product of farmer A isn't the same as farmer B. So the contract is drawn on a well-defined and widely agreed upon standard. That standard may differ from both A & B. For grains it mostly has to do with moisture for a certain defined variety. For cotton it's the staple and trash. For oil it's sulphur content and viscosity (and some other metrics). BTW, WTI is not the primary standard for world oil. North Sea Brent is, which is traded in London. |
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February 27th, 2013 | #37 |
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There is no world market for oil Leonard.
Only two grades of oil are traded in the commodities market. Brent and West Texas Intermediate. But these two products account for less than 1% of the world's total oil production. They are "benchmarks". Meaning oil producers price have already decided that all of their other products will be priced accordingly. Not only does the commodities exchange trade only a small amount of oil making it easier to inflate prices, oil companies actively participate in this speculation, knowing that it will raise the benchmark price for all their other products. |
February 27th, 2013 | #38 | ||
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Wow. All those thousands of oil tankers didn't get the message. Those greasy seagulls in Alaska and the Gulf died in vain!
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The world doesn't work the way you think it does. In the physical market, Saudi oil is not priced the same as North Sea oil, Nigerian, Venezuelan, etc. You can use a contract on WTI to hedge Russian oil and you can use a IPE contract to hedge North Slope. That's the whole point of having a benchmark. It's not a bad thing. I don't what else to say. You're attached to your ideas for some reason. Quote:
IINM, front month NYMEX crude is the most liquid physical commodity future out there, trailing only Treasuries and Eurodollars in total. These are huge markets, in any event. They're too big for Shell and Exxon to control them like you think they do. Read The Seven Sisters if you're genuinely interested in this topic. |
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February 27th, 2013 | #39 |
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There is corruption out there. But the price of commodities is not arbitrarily set by some financial version of the CFR, set too high to soak you at the pump. Oil is CHEAP. It would be a deal at twice the price. That's what you dont get. And it would be even cheaper if the consumer price weren't tax laden.
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February 28th, 2013 | #40 | ||
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