So you think oil and gas are up because of those evil speculators?

[bigrebnc1775]

Think again. Well I was looking at the price of silver ad gold I also notice oil and here's what I noticed.
112.85 a barrel


Change due to Weakening of USD
+0.12 +0.11%

Now here's the tell tell story
Change due to Normal Trading

-0.13 -0.12%

Meaning oil would not be at this price if we did not have a weaken dollar Not much sales for oil it seems. Now who's at fault for the weaken dollar? The FED maybe?





Gold, USD, Price gold, Silver, US Dollar, Oil, Platinum - Kitco KGX

 

[Avatar4321]

No I think it's up because of a weak dollar causing inflation.

 

[Mr. H.]

Think again. Well I was looking at the price of silver ad gold I also notice oil and here's what I noticed.
112.85 a barrel


Change due to Weakening of USD
+0.12 +0.11%

Now here's the tell tell story
Change due to Normal Trading

-0.13 -0.12%

Meaning oil would not be at this price if we did not have a weaken dollar Not much sales for oil it seems. Now who's at fault for the weaken dollar? The FED maybe?





Gold, USD, Price gold, Silver, US Dollar, Oil, Platinum - Kitco KGX

Mmmmmayyybeeeee.............

 

[bigrebnc1775]

No I think it's up because of a weak dollar causing inflation.

Play along
Now who is weakening the dollar?

 

[bigrebnc1775]

Think again. Well I was looking at the price of silver ad gold I also notice oil and here's what I noticed.
112.85 a barrel


Change due to Weakening of USD
+0.12 +0.11%

Now here's the tell tell story
Change due to Normal Trading

-0.13 -0.12%

Meaning oil would not be at this price if we did not have a weaken dollar Not much sales for oil it seems. Now who's at fault for the weaken dollar? The FED maybe?





Gold, USD, Price gold, Silver, US Dollar, Oil, Platinum - Kitco KGX

Mmmmmayyybeeeee.............

Maybe? Don't doubt me on this.

 

[KissMy]

Deficit spending & low interest rates are weakening the US dollar. Who is causing this you ask? Congress & the POTUS. If congress & the POTUS can't balance their budget or properly manage the economy then the Federal Reserve must lower interest rates & print money to buy government debt (stealth monetization or wealth redistribution) to rob peoples savings & force them to risk their savings until unemployment is in check.

 

[bigrebnc1775]

Deficit spending & low interest rates are weakening the US dollar. Who is causing this you ask? Congress & the POTUS. If congress & the POTUS can't balance their budget or properly manage the economy then the Federal Reserve must lower interest rates & print money to buy government debt (stealth monetization or wealth redistribution) to rob peoples savings & force them to risk their savings until unemployment is in check.

Congress and the president. Is Bush doing a 3rd term?

 

[bigrebnc1775]

Thought I would throw this in also.
WASHINGTON, April 28 (UPI) -- The U.S. gross domestic product for the first quarter was in step with weak expectations, the Commerce Department said Thursday.

First quarter economic growth in the first of three official estimates was pegged at 1.8 percent compared to the fourth quarter of 2010, a sharp drop from the 3.1 percent growth in the previous three-month period.





Read more: First quarter GDP hits weak expectations - UPI.com

 

[bigrebnc1775]

30 reasons for Great Depression 2 by 2011


Scan these 30 "leading indicators." Each problem has one or more possible solutions, but lacks unified political support. Time's running out. We're already at the edge. Add up the trillions in debt: Any collective solution will only compound our problems, because the cumulative debt will overwhelm us, make matters worse:

1.America's credit rating may soon be downgraded below AAA

2.Fed refusal to disclose $2 trillion loans, now the new "shadow banking system"

3.Congress has no oversight of $700 billion, and Paulson's Wall Street Trojan Horse

4.King Henry Paulson flip-flops on plan to buy toxic bank assets, confusing markets

5.Goldman, Morgan lost tens of billions, but planning over $13 billion in bonuses this year

6.AIG bails big banks out of $150 billion in credit swaps, protects shareholders before taxpayers

7.American Express joins Goldman, Morgan as bank holding firms, looking for Fed money

8.Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states

9.State revenues down, taxes and debt up; hiring, spending, borrowing add even more debt

10.State, municipal, corporate pensions lost hundreds of billions on derivative swaps

11.Hedge funds: 610 in 1990, almost 10,000 now. Returns down 15%, liquidations up

12.Consumer debt way up, now at $2.5 trillion; next area for credit meltdowns

We'll be in Great Depression 2 by 2011 -- here are 30 reasons why Paul B. Farrell - MarketWatch

 

[ABikerSailor]

Think again. Well I was looking at the price of silver ad gold I also notice oil and here's what I noticed.
112.85 a barrel


Change due to Weakening of USD
+0.12 +0.11%

Now here's the tell tell story
Change due to Normal Trading

-0.13 -0.12%

Meaning oil would not be at this price if we did not have a weaken dollar Not much sales for oil it seems. Now who's at fault for the weaken dollar? The FED maybe?





Gold, USD, Price gold, Silver, US Dollar, Oil, Platinum - Kitco KGX

So.......lemmie get this straight................

You think that because the dollar is weak, the gas companies have the right, as well as the investors, to pass the costs onto the common person who uses gas, to jack up the prices, thus ensuring that the CEO's of oil companies can have a gold toilet in every room of their house?

They should settle for just one in the master bedroom.

Try agian Little Rebecca in NC, you're just shilling for the rich. How much do you make?

 

[bigrebnc1775]

Good news for obama unemployment number will be shown as droped at the end of the month

One Million Exhausted Jobless Benefits in Past Year.


Roughly 1 million people in the U.S. were unable to find work after exhausting their unemployment benefits over the past year, Labor Department data released Thursday suggest.

Economists said the back-of-the-envelope calculation is yet another sign that the labor market remains weak.

One Million Exhausted Jobless Benefits in Past Year - Real Time Economics - WSJ

 

[sparky]

ZNet | ZNet Top Page


The Economist agrees, summing up its views with a pithy phrase, "Speculation does not drive the oil price. Driving does."

<snip>



The next time you drive to the gas station, only to find prices are still sky high compared to just a few years ago, take notice of the rows of foreclosed houses you'll pass along the way. They may seem like two parts of a spell of economic bad luck, but high gas prices and home foreclosures are actually very much inter-related. Before most people were even aware there was an economic crisis, investment managers abandoned failing mortgage-backed securities and looked for other lucrative investments. What they settled on was oil futures.



<snip>



started, as he delves into the intricacies of the NYMEX market that handles these trades:

The great thing about the NYMEX is that the traders don't have to take delivery on their contracts, they can simply pay to roll them over to the next settlement price, even if no one is actually buying the barrels. That's how we have developed a massive glut of 677 million barrels worth of contracts in the front four months on the NYMEX and, come rollover day – that will be the amount of barrels "on order" for the front 3 months, unless a lot barrels get dumped at market prices fast.
Keep in mind that the entire United States uses 'just' 18M barrels of oil a day, so 677M barrels is a 37-day supply of oil. But, we also make 9M barrels of our own oil and import 'just' 9M barrels per day, and 5M barrels of that is from Canada and Mexico who, last I heard, aren't even having revolutions. So, ignoring North Sea oil Brazil and Venezuela and lumping Africa in with OPEC, we are importing 3Mbd from unreliable sources and there is a 225-day supply under contract for delivery at the current price or cheaper plus we have a Strategic Petroleum Reserve that holds another 727 Million barrels (full) plus 370M barrels of commercial storage in the US (also full) which is another 365.6 days of marginal oil already here in storage in addition to the 225 days under contract for delivery.


These contracts for oil outnumber their actual delivery, a sign of speculation and market manipulation, as oil companies win government authorisations for wells but then don't open them for exploration or exploitation.

It's all a game of manipulating oil supply to keep prices up. And no one seems to be regulating it.

<snip>


He asks: "Who is buying 287,494 contracts (1,000 barrels per contract) for May delivery that can't possibly be delivered for $2.49 more than they were priced the day before? These are the kind of questions that you would think regulators would be asking – if we had any."

The TV news magazine 60 minutes spoke with Dan Gilligan who noted that investors don't actually take delivery of the oil. "All they do is buy the paper, and hope that they can sell it for more than they paid for it. Before they have to take delivery."

He says they make their fortunes "on the volatility that exists in the market. They make it going up and down."

Payam Sharifi, at the University of Missouri-Kansas City, notes that even as the rise in oil prices threatens the world economy, there is almost total silence on the danger:

This issue ought to be discussed again with a renewed interest – but the media and much of the populace at large have simply accepted high food and oil prices as an unavoidable fact of life, without any discussion of the causes of these price rises aside from platitudes.


ask not what your oilocracy can do for you.......

 

[edthecynic]

Deficit spending & low interest rates are weakening the US dollar. Who is causing this you ask? Congress & the POTUS. If congress & the POTUS can't balance their budget or properly manage the economy then the Federal Reserve must lower interest rates & print money to buy government debt (stealth monetization or wealth redistribution) to rob peoples savings & force them to risk their savings until unemployment is in check.

Congress and the president. Is Bush doing a 3rd term?

Thank God he's not, the dollar could not take another 4 years of Bush devaluation. In 8 years under the Bush Regime the dollar declined $4 and in 2.6 years under Obama the dollar has declined less than ONE dollar.

So Obama has stabilized the falling Bush dollar and the CON$ are livid. They were much happier with Bush destroying the dollar and the country.

Inflation Calculator | Find US Dollar&#039;s Value from 1913-2011

Year - Amount it took to equal $1 in 1913

2000 17.39
2001 $17.89
2002 18.17
2003 18.59
2004 19.08
2005 19.73
2006 20.18
2007 20.94
2008 21.75
2009 $21.67
2010 $22.03
2011 $22.57

 

[bigrebnc1775]

Deficit spending & low interest rates are weakening the US dollar. Who is causing this you ask? Congress & the POTUS. If congress & the POTUS can't balance their budget or properly manage the economy then the Federal Reserve must lower interest rates & print money to buy government debt (stealth monetization or wealth redistribution) to rob peoples savings & force them to risk their savings until unemployment is in check.

Congress and the president. Is Bush doing a 3rd term?

Thank God he's not, the dollar could not take another 4 years of Bush devaluation. In 8 years under the Bush Regime the dollar declined $4 and in 2.6 years under Obama the dollar has declined less than ONE dollar.

So Obama has stabilized the falling Bush dollar and the CON$ are livid. They were much happier with Bush destroying the dollar and the country.

Inflation Calculator | Find US Dollar's Value from 1913-2011

Year - Amount it took to equal $1 in 1913

2000 17.39
2001 $17.89
2002 18.17
2003 18.59
2004 19.08
2005 19.73
2006 20.18
2007 20.94
2008 21.75
2009 $21.67
2010 $22.03
2011 $22.57

Thank God he's not, the dollar could not take another 4 years of Bush devaluation.

You're clueless. The dollar is still being devalued

 

[bigrebnc1775]

Think again. Well I was looking at the price of silver ad gold I also notice oil and here's what I noticed.
112.85 a barrel


Change due to Weakening of USD
+0.12 +0.11%

Now here's the tell tell story
Change due to Normal Trading

-0.13 -0.12%

Meaning oil would not be at this price if we did not have a weaken dollar Not much sales for oil it seems. Now who's at fault for the weaken dollar? The FED maybe?





Gold, USD, Price gold, Silver, US Dollar, Oil, Platinum - Kitco KGX

So.......lemmie get this straight................

You think that because the dollar is weak, the gas companies have the right, as well as the investors, to pass the costs onto the common person who uses gas, to jack up the prices, thus ensuring that the CEO's of oil companies can have a gold toilet in every room of their house?

They should settle for just one in the master bedroom.

Try agian Little Rebecca in NC, you're just shilling for the rich. How much do you make?

Seabitch do some research because of a weak dollar it takes more of them to purchase the same amount. From my source it gives the value of the dollar cost and how much demand is for oil. Demand is down but oil is up, because of a weak dollar.

 

[editec]

The value of the dollar relative to other currencies and commodities isn't the problem.

The international price of oil is up as speculators bid up the price.

Inflation will be the problem however, when/if the dollar falls against other currencies.

 

[bigrebnc1775]

The value of the dollar relative to other currencies and commodities isn't the problem.

The international price of oil is up as speculators bid up the price.

Inflation will be the problem however, when/if the dollar falls against other currencies.

From my source it's explained.



When the US Dollar gets stronger, it takes fewer dollars to buy any commodity that is priced in $USD. When the US Dollar gets weaker it takes more dollars to purchase the same commodity.

The price of all US Dollar denominated commodities, like gold, will change to reflect the fact that it will take fewer or more dollars to buy that commodity. So it’s quite possible, in fact it’s almost always the case that a portion of the change in the price of gold is really just a reflection of a change in the value of the US Dollar. Sometimes that portion is insignificant. But often the opposite is true where the entire change in the gold price is simply a mathematical recalculation of an ever-changing US Dollar value.

When the dollar gets strong, gold appears to go down, and vice versa. That accounts for part of the fluctuations that we see in the value of gold.

The other part is an actual increase in the supply or demand for gold. If the price is higher when being measured not only in US Dollars, but also in Euros, Pounds Sterling, Japanese Yen, and every other major currency, then we know the gold demand is higher and it has actually increased in value.

Consequently, if gold is higher in US Dollars while at the same time cheaper in every other currency, then we can conclude that the US Dollar has weakened, and that gold has actually lost value in all other currencies. But the price, because it is being quoted in $USD will be higher and give the illusion of gold becoming more valuable. In such a case the devaluation of gold, due to increased supply on the market, is camouflaged by a weakened US Dollar.

Our feature on kitco.com breaks the change of the price of gold into 2 components. One part shows you how much of that change can be attributed to US Dollar strength, or lack of it. The other portion is indicative of how much the price changed as a result of normal trading. Interestingly whatever changes happen to the price of gold as a result of US Dollar strength/weakness also occurs to every other US Dollar denominated commodity by the exact same proportion.

 

[bigrebnc1775]

Remember when I said look at the value of gold in U.S. dollars vs. Gold in other currencies. Here is a good indicator.

 

[expat_panama]

...oil would not be at this price if we did not have a weaken dollar Not much sales for oil it seems. Now who's at fault for the weaken dollar? The FED maybe?...

Sounds like you're saying that the rise in oil prices is caused by falling dollar exchange rates, and that's caused by the Fed.

In the first place exchange rates don't affect oil prices. OK, I know everyone says they do and it makes sense that they would but I'm not talking about what makes sense or what people say. I'm talking about what is. These are the oil prices, and these are the exchange rates. Sometimes they go up and down together and sometimes they go in opposite directions.

In the second place the Fed's mission is stable prices and stable banks. OK, they're supposed to worry about employment too somehow, but they don't do exchange rates which are handled by the free market.

 

[PLYMCO_PILGRIM]

Think again. Well I was looking at the price of silver ad gold I also notice oil and here's what I noticed.
112.85 a barrel


Change due to Weakening of USD
+0.12 +0.11%

Now here's the tell tell story
Change due to Normal Trading

-0.13 -0.12%

Meaning oil would not be at this price if we did not have a weaken dollar Not much sales for oil it seems. Now who's at fault for the weaken dollar? The FED maybe?





Gold, USD, Price gold, Silver, US Dollar, Oil, Platinum - Kitco KGX

QE1 and QE2 (quantitative easing, look it up if you dont know what it is) devalued our dollar.

The printing of money under the direction of Tim Geitner, per the president's desire, has also weakend the dollar.

Oil is bought in dollars.....if the dollar is weaker that means oil will cost more dollars to buy....same with gold/silver.