Despite nearly 6 million barrels per day of spare capacity, crude oil is trading at

[Subdivisions]

$78 per barrel. It was down in the 40s whenever it bottomed from its $147 bbl price back in the summer of 2008.

I guess the speculators are at it again, eh?

[bemildred]

1. Yah, keeping the old game alive. nt

[ProdigalJunkMail]

2. it is called a tanking dollar...it is plummeting ... n/t

[Subdivisions]

4. Very good! Gold is also breaking record highs. The Dollar is in grave danger.

We would all do well to take a look at our emergency preparations.

[DJ13]

3. Wheres the KY?

[era veteran]

19. Rape at the gas station ..... who pumped ethyl?

[Lint Head]

5. Yes. Not one single new well has been drilled and the price of

gasoline has gone down. There is no longer a call for drilling in Anwar and off the South Carolina coast.

[dysfunctional press]

6. they need the money to buy their kids the g.i.joe with the kung-fu grip for christmas...

they're panicking- i can feel it.



7pm friday october 16 on spike.

[AllentownJake]

7. Our currency is being devalued

In the hopes it will stabilize housing prices and encourage exports

[Dreamer Tatum]

8. Our currency is being devalued because we're PRINTING IT like never before

Where do you think the stimulus cash came from?

I'd love to know how making the dollar worthless helps people get into homes. Explain that.

[AllentownJake]

9. I don't agree with it

Part of the justification is it is supposed to keep housing values where they are. This doesn't really help people get houses, just prevents people from having underwater mortgages....supposedly.

[Statistical]

15. Um the stimulus cash came from foreigners....

we borrowed it just like the $11T we borrowed for everything else.

[Dreamer Tatum]

16. Um

http://www.shadowstats.com/alternate_data/money-supply



Good grief.

[Statistical]

17. Which has nothing to do with stimulus money.

The STIMULUS money was a Congressional appropriation and thus the Treasury sold T-bonds to pay for our lack of funds.

That is completely desperate from open market policy the FED used to expand monetary supply to artificially reduce interest rates.

[Dreamer Tatum]

18. You're usually really, really smart

So I'll let you slide on this one.

[customerserviceguy]

10. I heard on the radio a couple of days ago

that the gamblers are banking on the idea that tons of useless crap will be sold this Christmas, and that a lot of oil is going to be needed to provide the gasoline for shoppers, and the diesel fuel for trucks to bring the crap to the malls for people to gorge themselves on it.

I plan on wishing people a nice holiday season without the crap, and I suspect that loads of people are going to be just like me. Isn't that the message the story of the Grinch told us, that we don't need crap to be happy?

[Gin]

11. son in law in shipping industry says container ships are anchored and empty..

he has never seen this before...his company borrowed money from their government for first time in over 100 years to stay afloat for 09.

[Historic NY]

12. Its called screwing the consumer...I hope the Saudis have to eat boiled sand.

[valerief]

13. No one to stop them, apparently. nt

[Statistical]

14. It's called reckless spending of money we don't have.

Are speculators driving up the price of gold, silver, platnum, copper, iron, coal, and natural gas also?
Are speculators driving up the Euro, Yen, Yuan, and Pound?

We have spent so much money we don't have it is unbelievable. We have maxed out the $11T American Express and Capital One (Japan, China, Europe, and rest of international investors) are reluctant to up the credit line.

It is a simple concept. If revenue is $2T then you must spend <= $2T. You can't spend $2.4T, or $2.8T, or $3.1T. You can't keep spending more money than you have year after year, decade after decade with no consequence.