Quote:
Originally Posted by d-ray657
I should just admit that I am our of my depth here. But what the Hell, that hasn't stopped me yet. I think to carry out your card game analogy, some new prospectors have come into the game carrying a bag of gold nuggets. While we might not have any less than we did before, there is enough other money at the table now to be able to call a bluff.
Regards,
D-Ray
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Them's the kind of people you want at your table...provided you can convince them that Big Daddy Warbucks is your uncle, and he's backing your IOU.
If you can't convince then that your IOU is good, you'll be the one leaving wearing a barrel, if you leave at all.
In a way, this is about the poker game, and faith that you're good for your bet, but in a way it's not.
It's about the fed gov manipulating the oil industry via the strategic reserves, and the repercussions.
And to pursue this further, if the government can manipulate the oil market with the crummy SR, what do you think they can do to the overall market...considering the amount of funds they have tied up (pension,etc) there?
I simply asked a question, and admitted that I didn't have the answer, although in a wise ass manner.
So allow me to return to where I started ,with some clarification.
Did you realize that by releasing the strategic reserves, that no oil exchanged hands, only money in the futures? market?
And what is the upside, or downside of playing such games?
I see no reason to continue this exercise unless we address my two queries.
Then we can play a little poker!!!
Chas