You’re going to regret bidding up oil prices all because some Neanderthals in a dessert were making hostile remarks. Your theory of “Iran Price Spike” is about to get kicked down a 9 story spiraling staircase.
It couldn’t come at a better time, really. Another five months hearing about the self-described fecund investment projects of you strumpets – “I’m buying AAPL.” – and I might have had to take a leap off a balcony.
Just remember what I told you. This year, China bulls are going to be subject to the Catherine Wheel.
Looking your way, Rogers.
How any of you seriously contemplated escaping demand destruction in Europe by running to their biggest supplier is beyond me – thank God.
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Bravo, bravo, well played, Mr. Thaler.
(as 10.0 score cards ubiquitously appear to accompany the steady chatter of clapping)
I tried to warn the gullible that media pumping is not what produces a war.
http://ftalphaville.ft.com/blog/2012/03/05/908661/managed-money-goes-long-oil/
Apparently managed money is 12:1 long oil. Set up for a rout.
(laughter) I know, it’s beautiful. Someone on Twitter posted the volume of oil under non-commercial ownership a week or so ago.
It sort of makes you rethink the constrained supply argument. How tight are oil supplies when that much of it is being purchased by people who have no practical use for it?