Futures Surge On Rumor Of Highly Impossible Hugo Chavez-Mediated Peace Plan

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Thu, 03/03/2011 - 08:17 | 1014424 eigenvalue
eigenvalue's picture

Chavez himself is a clown and dictator, who may be toppled soon by his own fellow countrymen.

Thu, 03/03/2011 - 08:54 | 1014483 Twindrives
Twindrives's picture

Hugo Chavez is going to have to rein in the illustrious Nobel Peace prize winning Barack Obama's naked aggression.

All the world is a stage....... and it's leaders' full of hypocrisy.  

Go ahead Hugo, tell Lyin' POS Barry how the cow eats the cabbage. 



Thu, 03/03/2011 - 08:17 | 1014425 Cdad
Cdad's picture

And the credibility of these markets, resting on the backs of the criminal syndicate known as Wall Street, falls face down at the corner of Wall and Broad...again.

It is becoming quite clear to me that when these markets head down again, it will be for good.  No one actually alive and thinking now could ever have faith in again in this pachinko market.  Today's fraud rumor/excuse/reason to move the ES has to be the worse one I have ever heard of.

Thu, 03/03/2011 - 08:21 | 1014427 HelluvaEngineer
HelluvaEngineer's picture

Agreed.  Even my family is catching on, and all they do is regurgitate the nightly news..  One of them just converted a sizable 401k to cash.  Unfortunately, my recommendations regarding precious metals have fallen on deaf ears.  That's just an "end of the world" play, apparently.

Thu, 03/03/2011 - 08:21 | 1014428 e_u_r_o
e_u_r_o's picture

so zerohedge would rather have lower stock prices than lower oil prices?

Thu, 03/03/2011 - 08:24 | 1014431 eigenvalue
eigenvalue's picture

I want lower oil prices but the law of supply and demand can never be fought against

Thu, 03/03/2011 - 08:29 | 1014438 Cdad
Cdad's picture

Seriously, if we applied the laws of supply and demand to oil, the price per barrel would be cut in half.  So I'm not really sure what you are asking for here.  The law of supply and demand per oil has been suspended.

Thu, 03/03/2011 - 08:32 | 1014442 eigenvalue
eigenvalue's picture

I think the fundamentals of crude oil are rather stong. Peak oil is not a hypothesis.

Thu, 03/03/2011 - 08:38 | 1014449 Cdad
Cdad's picture

I wasn't talking about what you think.  I was referring to the slack in demand for oil and the massive supply on hand.  Supply/demand are economic laws.  Peak Oil is an idea planted by environmentalists, criminal syndicate Wall Street options junkies, and oil companies.


Thu, 03/03/2011 - 08:40 | 1014458 eigenvalue
eigenvalue's picture

Don't worry about the demand. Just go and visit China. You will see a gigantic demand for oil. China is a bubble but its demand for oil is real.

Thu, 03/03/2011 - 08:47 | 1014469 Cdad
Cdad's picture

The US is the world's largest consumer of oil.  Our consumption is falling along with our economy.  That China is picking up some slack does not prove your point.  In the meantime, current oil discoveries in the US and Canada are MASSIVE. 

If you want to be gullible on this whole Peak Oil notion, be my guest.  Oil will fall right along with the market...on the day that the criminal syndicate known as Wall Street finally accepts that their plan to re inflate the equity bubble with banana republic Bernanke dollars has failed.

Thu, 03/03/2011 - 08:59 | 1014493 eigenvalue
eigenvalue's picture

Well, I think you are a follower of Engdahl, who thinks peak oil is a myth. But I have some reservations.

Thu, 03/03/2011 - 09:02 | 1014499 razorthin
razorthin's picture

What is it about the concept of finite supply that you can't wrap your head around?  We can't fiat oil to my knowledge.

Thu, 03/03/2011 - 09:10 | 1014519 Cdad
Cdad's picture

All resources are finite.  However, your thinking is too simplistic.  As an example, what about efficiency?  How about disruptive technologies?  These things extend the lifespan of finite commodities for X years. 

How about economic depressions and resulting lowered consumption?  How about the Bachan?   

Of course, in the meantime, Wall Street constantly front runs broad and stupid concepts like this as a way of justifying their options habits.

Was it not the case that just two years ago...the same theory was posited, oil went to $147...and then collapsed to $35?  The very same thing is about to happen again...but by all means, scream Peak Oil from the top of your lungs all you like.

Thu, 03/03/2011 - 09:24 | 1014543 Flakmeister
Flakmeister's picture

 You are going to lecture us about the fundamentals of oil and you can't even spell Bakken? The Bakken is wonderful field, its been known about for years and they finally figured out how to get oil out of it.  In a few more years they may ramp it up to 2/3 of the flow that once came out of Prudhoe Bay.

Here is a chart of US oil production, read it and weep.


In here is a chart of global discoveries and production (2002)



Thu, 03/03/2011 - 09:59 | 1014621 Cdad
Cdad's picture

Oh please.  Forgive the misspelling.

So...you saying to me that +$100 oil is fundamental?  You mean to say that it is not geopolitical?  Who are you kidding with this?   

But it doe not matter about our disagreement.  In the next couple weeks...if not hours...the market will explain it to you.

For everything on the Earth, there is a price.  And for every price, there is one that is too high.

Thu, 03/03/2011 - 10:12 | 1014650 Flakmeister
Flakmeister's picture

  The way money is being printed, it is hard to estimate what the price of oil should be. The world market is very tight, oil price demand inelasticity is about 0.07, this implies 1% shortfall is about a 14% increase.

However, the value of oil is easy to figure out. If you pay people $0.25 a hour for hand labor, the equivalent power extracted from oil equates to $580 per barrel. Oil is cheap compared to what it does...

   As for the price swings post Lehman, what happened to oil  was no different than what happened to Au, Ag, Pt and Pd. Grossly oversold and I BTFD.

And you still haven't told us about the MASSIVE finds and addressed the US production curve I posted....

Thu, 03/03/2011 - 10:15 | 1014670 tmosley
tmosley's picture

Or you could pay an animal nothing!  That makes oil FREEEEEE!!!!

In other words, that is a stupid analogy.

Thu, 03/03/2011 - 10:46 | 1014688 Flakmeister
Flakmeister's picture

  You accuse me of stupid analogies and you come up with that?

  You have to buy the animal and feed the animal...

But yes, it is a limited example, but it served the purpose to estimate the value of oil...


Thu, 03/03/2011 - 10:12 | 1014658 tmosley
tmosley's picture

Don't you know?  Peak oil caused this whole crisis.  I mean sure, oil prices have lagged far behind all the other commodities, but because the guys at the oil drum said it, it must be true, because they were right in 2008, right?  Clearly our somewhat higher oil prices have caused everything else to explode in price.  This is NOT a monetary crisis.  Ben Bernanke did not cause it, in fact, he is a hero, and should be revered as such, and be given our total devotion.  Government intervention is the only means by which we can preserve our current oil supply.  Production has peaked and is declining sharply, just as we predicted (wait, it hasn't?  it has only plateaued?  Look, don't argue 5th grade geography, if I say a square is a circle, then its a circle, so shut up!).

Also, in my house, I monitor the water pressure by how many cups of water I can fill per minute.  I don't have ANY water pressure!  Sure, the faucets are off, but that doesn't have anything to do with it.  Water is being extracted at the fastest rate possible down at the waterworks.

Thu, 03/03/2011 - 10:48 | 1014705 Flakmeister
Flakmeister's picture

  I've taken you to school on this before...

Net Energy of liquids produced has not budged in 5 years...

Net Exports of oil peaked in 2005...

Chew on this:


Might give you a little more insight into what helped tip Egypt over.

And yeah, don't even try to paint me as a defender of the Bernank...

Thu, 03/03/2011 - 09:06 | 1014511 Flakmeister
Flakmeister's picture

  Just what are these MASSIVE finds?

Thu, 03/03/2011 - 10:52 | 1014772 Matt
Matt's picture

@Cdad just to be sure I understand you; right now the world produces around ~80 million barrels per day. So you state Peak Oil is not real. Does this mean you believe that oil production will increase to 160 million bpd by 2020, 320 mbpd by 2030, 640 mbpd 2040, and over 40 BILLION barrels per day by the year 2100?

Thu, 03/03/2011 - 09:12 | 1014521 Milton Waddams
Milton Waddams's picture

If the oil producing regions are not made flush with cash who pray tell is going to buy the Treasuries?

Thu, 03/03/2011 - 08:50 | 1014474 razorthin
razorthin's picture

Reality, bichez.  S&P at $100 and Oil at $300 would reflect reality.

Thu, 03/03/2011 - 08:22 | 1014430 ReallySparky
ReallySparky's picture

Watch out Obama, Chavez is gonna take away your peace prize.

Thu, 03/03/2011 - 08:25 | 1014433 sangell
sangell's picture

The rebels have said the want to review and or renegotiate all the oil contracts so keeping Moammar in place would seem to be the preferred outcome if oil stability is the goal.

Meanwhile Telegraph's AEP reports some Bahrain Shia cleric has said his folks will ask for Iranian help if Saudi Arabia intervenes on behalf of the Sunni leaders. This is the biggie not Libya.

Thu, 03/03/2011 - 08:27 | 1014436 Orémus
Orémus's picture

Why do you call Chavez a dictator ?

He has been elected and reelected more than once

And never stole no election

He is just defying american domination

Thu, 03/03/2011 - 08:30 | 1014439 eigenvalue
eigenvalue's picture

If you rig the election, you can get elected as many times as you want.

Thu, 03/03/2011 - 08:39 | 1014457 PY-129-20
PY-129-20's picture

And if you rig the markets, you can get as much fiat as you want. What a wonderful world! Soon, we all will be millionaires and Uncle Chavez will bring us our Christmas presents.

Thu, 03/03/2011 - 09:02 | 1014501 MarketTruth
MarketTruth's picture

And if you rig elections AND the market like in America.... the world is yours and you may freely slaughter the sheeple at will.

Thu, 03/03/2011 - 10:05 | 1014641 Oh regional Indian
Oh regional Indian's picture

Market, ain't that the truth. I think any American pointing fingers at any world leader should think about 42 times before openign their mouths. There is just no justification/comparison. At all.

In fact, if American people can start to feel what their sin of omission has allowed a runaway MIC to do to the world in their names, maybe somethign would change.

But except for a small minority (yes, small and minority), that is not how it looks. In fact, I was there for a long time and did not see it.

I fact, they just need to visit a reservation. Once. In a lifetime. Not to gamble either.



Thu, 03/03/2011 - 10:23 | 1014694 pazmaker
pazmaker's picture

ORI, you should heed your own advise and worry about your corrupt leaders in India. Maybe you should think about that before opening your mouth.

Thu, 03/03/2011 - 08:36 | 1014447 alter ego
alter ego's picture

Hey Oremus,

Fidel Castro also have elections every four

years and surprisingly he wins!

Before say something stupid about Chavez,

maybe you should take a walk in Venezuela and

see what the Chavez' revolution really means.

In addition also ask the Venezuelan people

 about dissidents in jail.

They have many people locked in filthy

dungeons just because they  have different

opinions of your lovely revolutionary 


Ahh by the way, if for any reason you have a

house or a farm that the guys in the

Venezuelan government really  like, they will

take it away from you without paying you any


That is what I called an ideal democracy.



Thu, 03/03/2011 - 08:58 | 1014489 snowball777
snowball777's picture

¿Cuál es su punto fijo, chico? Is it better to steal the oil revenues and 'buy' that farm instead?

Maybe you're into repression like El Caracazo instead?

Hugo may be an ass, but he stood up to the IMF thugs and has been a dissident in prison too.

Thu, 03/03/2011 - 09:14 | 1014523 alter ego
alter ego's picture


Learn some Spanish!

Me no comprendo what you are saying.


Now, talking about the subject, in the last 10

years Venezuela have had more than 100Billion

dollars in oil related revenues.

During the same period that country have had

a yearly accumulative inflation of 20% average.


Have you been in Venezuela?

Venezuela is a tiny country with just 30 million

people and I don't think, based on those huge

incomes this country looks like

EAU or Norway, just to name other oil

exporter's countries.


Get your facts my friend.


If you are anti imperialist, go an buy

a Che Guevara's t-shirt. 

Thu, 03/03/2011 - 09:24 | 1014542 snowball777
snowball777's picture

If you're a pro-imperialist, go take a nice long dirt nap.

Thu, 03/03/2011 - 09:40 | 1014570 alter ego
alter ego's picture


No, I'm not pro-imperialist, however I'm not pro

Banana Republic's gorillas.

I fell so bad with guys like you that don't

have arguments and you just see the world

between Pro or Anti Imperialist.


You have been manipulated my friend.

Or maybe you are so in love with dictators.


Maybe you should ask yourself, who gets the

benefits for the destruction of the Venezuelan

oil industry?


What is going to happen if Venezuela's oil

productions continue to decline?


I tell you what, the "imperialist" are going to

come and buy back Venezuela's oil assets in

exchange of investment.


In addition, Chavez sale most of that Oil to

your imperialist friends.


So. Who does what and why?

Who is the sucker?

Maybe you should see yourself and ask these

 question in front of a mirror.

Thu, 03/03/2011 - 09:47 | 1014592 snowball777
snowball777's picture

YOU are the one seeing the world sans shades of gray, not me ("If you're an anti-imperialist,...") so shove that lame idea back up your culo.

I see Hugo for what he is, good AND bad and don't pretend that he didn't come to power because things in Venezuela were fucked up enough to allow a strongman to step into the fray. I don't condone his repression of journalistic criticism or jailing of dissidents, but I don't pretend that the vacuum he'd leave behind if eliminated wouldn't be filled with an analog to Pinochet or the Somoza dynasty either.

If given a choice between incompetence and evil, choose the former.

Now step off my dick before you get hurt.

Thu, 03/03/2011 - 09:43 | 1014580 Orémus
Orémus's picture

alter ego

do you know any other "dictator" that, when facing a military coup d'état (organised by the US, do you doubt it ?), has been reinstalled by his own people

he is just hated by your press because he doesnt agree with US firms making money with his countrys ressources

election rigged ? show me the proofs

Thu, 03/03/2011 - 12:15 | 1015110 Rick64
Rick64's picture

Exactly, on top of this he is fighting the elite in his own country because they are the ones that benefit from the IMF programs, privitization of natural resources, and exploitation of the common man.

Thu, 03/03/2011 - 08:56 | 1014485 spanish inquisition
spanish inquisition's picture

In the USA you get a choice of the same wall street backed guy in a blue or red coat. The beauty of it is, no need to fix the election in post.

In regards to dissent, you are still able to be shouted down or labeled a crackpot. Just in case things get out of hand, there are a few prisions being build in Montana(?) by Blackwater/Xe and MRE's ordered.

Thu, 03/03/2011 - 08:28 | 1014437 Boilermaker
Boilermaker's picture

Well, surely, that's good for 12 SPX handles.  Surely.

Thu, 03/03/2011 - 09:21 | 1014446 John McCloy
John McCloy's picture

Wall St and the government only know how to cheat at this point. This whole economy is one big cheat built on long spent debt. Now our media literally no longer runs on celebrities primarily but on reality stars. Most Americans certainly deserve it the rest simply do not have the proper information to know what position we truly are in and how simple it is to fix.

Thu, 03/03/2011 - 08:36 | 1014448 razorthin
razorthin's picture

Just another bankster scheme to gap up markets over resistance and safely above support.  BTFD.

Thu, 03/03/2011 - 08:36 | 1014450 Long-John-Silver
Long-John-Silver's picture

Hillary is going to Libya to install an American Puppet Dictator come Hell, high water, or Hugo.

Thu, 03/03/2011 - 08:37 | 1014451 LongSoupLine
LongSoupLine's picture

In related news, Bernanke and Geithner say thay have a plan to fix the economy.  They call it "Quantitative Easing".


Chavez approves.

Thu, 03/03/2011 - 08:37 | 1014454 chinaguy
chinaguy's picture

No, NO! AP says Futures are rising because of the great ADP jobs numbers yesterday - LMFAO

"World stocks regained their composure Thursday after upbeat U.S. employment figures buoyed shares on Wall Street, surmounting fears of a disruption in the global oil production"

Thu, 03/03/2011 - 08:44 | 1014463 zaknick
zaknick's picture

Stupid cocksucker .....

There's more real democracy in Venezuela than there has ever been in the good ole USA. Dictator? He's been elected 3 times by landslides.

You doing Rockefuckers bidding too, u little Durden bitch? Thats whose oil interests you seem to be pushing.

Motherfucker, you have the CFR banksters running your world into the gutter and here u are pimping for him... stupid slave

whats the difference between Zero Hedge and the MSM?

Stupid bitch

Thu, 03/03/2011 - 08:56 | 1014486 alter ego
alter ego's picture

I think the only cocksucker are yourself.

Your premise is wrong.

 Just because the US democracy is a fallacy,

doesn't convert the Venezuelan in an Ideal.


There is nothing more sad that an ignorant with



By the way, you can buy a a Webster dictionary

and find a better synonyms for your words. I

mean if you really want to trasmit a

professional message.


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