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JPMorgan to start physical oil trade, eyes $200 oil
reuters.com — JPMorgan Chase & Co will begin trading physical oil by year-end, increasing its exposure in a market that could rise to $200 a barrel, the bank's global head of commodities said on Wednesday.
EuroRaver- 36 diggs
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- cashman57, on 05/15/2008, -0/+8$200.00 oil is possible but so is $10.00 loaf of bread. The debasement of our currency will be such that we will have no hedge to the massive inflation.
- demicritter, on 05/15/2008, -0/+6Traders and speculators are the primary reason behind the pricing increases. Just like Soros did with the currency market years ago, and may be doing again behind the scenes, he's controlling the playings like the grand puppet master except in his case he's wart covered and smells of baby powder.
- CasaWood, on 05/15/2008, -0/+5Not surprising as Ron Paul shows everyone in his new book regarding who gets wealthy and who doesn't during times of inflation and paper money collapse.
- simpleid, on 05/16/2008, -0/+1Yea but resources are limited, and we don't have a source of gold that grows exponentially to match the growth of society. I think we need a different approach to money all together. There needs to be a way to perpetually cycle existing credit so that it does not exceed a specific limit, a sort of controlled debt, and based on a material who's value will grow with the population proportionately. Our infrastructure and possessions for example.
Maybe we should stop letting banks charge interest on loans to begin with, that would go a long way since on mortgages the interest can far exceed the principle. Interest screws everything up because it puts a demand on the system for money that doesn't exist in the system. In fact, if everyone paid the principles they owed right now, tons of people would be in debt for all time because the credit being charged as interest doesn't exist!
**But think about it, people needed that amount of money, which is why we began letting banks write off loans, so you can have your car and life.**
**The problem stems from that, there just isn't enough Gold to sustain the demands of society!**
**Gold is NOT the answer, in my humble opinion.**
There needs to be a new approach to the system of currency and the philosophy of money needs to be changed; we need to end the exponential growth of debt because it's UNSUSTAINABLE, and Gold can NOT fix that.
- simpleid, on 05/16/2008, -0/+1Yea but resources are limited, and we don't have a source of gold that grows exponentially to match the growth of society. I think we need a different approach to money all together. There needs to be a way to perpetually cycle existing credit so that it does not exceed a specific limit, a sort of controlled debt, and based on a material who's value will grow with the population proportionately. Our infrastructure and possessions for example.
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