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Live Webcast Of Obama Demonizing Oil "Speculators"

Tyler Durden's picture


After Obama's "fairness doctrine" was roundly rejected by the Senate last night as the doomed from the beginning Buffett Rule was voted down, Obama needs to find some more evil villains for society to demonize, and whom to blame for the failure of central planning, or rather its success in pushing gas prices to all time highs. Today - it is that mysterious, amorphous blob of vile, conspiratorial henchmen known as "oil speculators." Forget that these "speculators" are merely conduits for the Fed to conduct its open market operations, forget that the same free liquidity that drives stocks up relentlessly in nominal terms (what? no demonization of evil stock pumping speculators?), even as it produces ever increasing inflation in all those items not tracked by the Fed, forget that Obama's speech is about to be replica of Jimmy Carter's Crisis of Confidence platitude in 1979. Finally forget that the biggest speculator is none other than the White House with its periodic release of SPR release rumors any time WTI approaches $110. Forget all that, and merely focus on the hypnotic, undulating intonation of the engrossing, populist sermon: that is all that is demanded of you. Everything else is to be ignored. And now since the time of "fairness" is over, it is time to do a shot every time "speculator" is uttered. And get ready for many, many CL margin hikes.

Watch live at 11:10 am:


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Tue, 04/17/2012 - 11:10 | 2351468 EscapeKey
EscapeKey's picture

Obama 2012 - making Jimmy Carter look like a genius.

Tue, 04/17/2012 - 11:17 | 2351516 SilverTree
SilverTree's picture

Obama 2012 - He is still black.

Tue, 04/17/2012 - 11:29 | 2351575 AldousHuxley
AldousHuxley's picture

oil speculators from goldman sachs are how obama's campaign is funded.

also rhetoric and action around Iran is causing speculators to bet on increase in crude prices.


bring the troops home and let TBTF fail, you will see speculators mostly disappear.

Tue, 04/17/2012 - 11:36 | 2351594 Comay Mierda
Comay Mierda's picture

I've stopped feeling bad/sorry for the sheep.  if they dont see they are about to get slaughtered by their master its their own damn fault.  when shtf, only people who have prepared will get through.

Tue, 04/17/2012 - 11:38 | 2351636 Oh regional Indian
Oh regional Indian's picture

here in India, I had a spotty connection.

All i could see was that Geithner is a robot. HE did not move, only once to put his hands back. Looked totally weird. Sideways, odd.

And it's a dangerous trend when they start making "Statements" and stop taking questions.



Tue, 04/17/2012 - 11:40 | 2351639 V in PA
V in PA's picture

Don't count on it. Those who have prepared will most likely be declared criminals, and rounded up, before the final crash.

Tue, 04/17/2012 - 11:51 | 2351692 knightowl77
knightowl77's picture

That is why it is better to live inn the "boonies" where the Stop signs say "Whoa"....Feds can't find us out here, or we will be so low on their priority list, we'll be the last they come for...

Tue, 04/17/2012 - 12:37 | 2351854 iDealMeat
iDealMeat's picture

Be a wolf.  in sheepskin..  quite easy to play the role and hide in plain sight..



Tue, 04/17/2012 - 11:41 | 2351642 Buckaroo Banzai
Buckaroo Banzai's picture

It's the same tired playbook that has worked for thousands of years. Dictators have to find people inside the country to demonize, or outside the country to attack. Why would Obama reinvent the wheel?

Tue, 04/17/2012 - 11:56 | 2351720 Taterboy
Taterboy's picture

Hitler had the Jews. Obamee has the "Speculators".

Tue, 04/17/2012 - 11:58 | 2351724 tickhound
tickhound's picture

The NAT GAS traders must feel like PATRIOTIC speculators about now.

Medals of Freedom pending...

Tue, 04/17/2012 - 12:57 | 2351941 Bob Sacamano
Bob Sacamano's picture

Yes, Central Planning only attacks you when you do not obey their wishes. 

Want to fix speculators?  Stop govt induced ZIRP.  That'll do it.

But the govt likes to complain about the consequences of their own policies.

Tue, 04/17/2012 - 12:41 | 2351872 CrashisOptimistic
CrashisOptimistic's picture

I'm pretty sure oil speculators don't sit in the offices of oil refinery managers and tell them how much they are permitted to pay for a shipment of crude.

The refinery has gasoline customers.  They have to supply them and they set a price based on what they must to stay in operation.  The oil shipper sets a price based on what other refineries might be willing to pay.

Nowhere in that process is there a procedure book that says "you must watch the NYMEX prices to determine what the refinery will pay for the shipment".

Tue, 04/17/2012 - 11:35 | 2351616 Bicycle Repairman
Bicycle Repairman's picture

Nothing to see here.  Move along.

Tue, 04/17/2012 - 11:40 | 2351617 nope-1004
nope-1004's picture


Truth is, create a villian (speculators), institute margin hikes (election year) to coverup monetary debasement (Bernanchio bailing out banks).

A true gem from him:  "Oil imports have decreased every year I've been in office."  LOL.  Kinda sucks residing over a depression, but spin away as you must mr. obummer.


Tue, 04/17/2012 - 11:24 | 2351531 hedgeless_horseman
hedgeless_horseman's picture



As yo' president, I invite y'all to visit this li'l ol' innernet site to find The Gospel Truth about high gas prices:


Tue, 04/17/2012 - 11:33 | 2351601 hedgeless_horseman
hedgeless_horseman's picture



"Because we are now running out of gas and oil, we must prepare quickly for a third change, to strict conservation and to the use of coal and permanent renewable energy sources, like solar power."


JIMMY CARTER, televised speech, Apr. 18, 1977

Tue, 04/17/2012 - 11:34 | 2351605 hedgeless_horseman
hedgeless_horseman's picture



One blames the speculators, and one says we are running out of oil.  Which one is lying?

Tue, 04/17/2012 - 11:35 | 2351619 Bicycle Repairman
Bicycle Repairman's picture


Tue, 04/17/2012 - 12:33 | 2351829 hedgeless_horseman
hedgeless_horseman's picture




"Fuck off with politicians and the media blaming everyone and everything for high gas prices...except the people that everyone knows are really to blame...the government and central bankers with their deficit spending, money printing, and central planning. I say never be protected, I say stop being perfect, I say let... lets evolve, let the chips fall where they may."


Tue, 04/17/2012 - 12:40 | 2351870 iDealMeat
iDealMeat's picture

+1..  Good run horseman.

Tue, 04/17/2012 - 12:43 | 2351860 DaveyJones
DaveyJones's picture

uh, if we now get an EROEI of 1/5 or less and we started off 100 years ago with 1/150, I'd say we're "running out" 

kinda why we're drilling at the bottom of oceans and squeezing crap out of shale

we can not keep up with our depletion rates

we have NEVER, as a species evolved to an energy source with lower returns. We are about to

Tue, 04/17/2012 - 13:02 | 2351938 hedgeless_horseman
hedgeless_horseman's picture



we have NEVER, as a species evolved to an energy source with lower returns.

Thank God the ROI* for Bernanke's Heidelberg Presses approaches infinity.

But seriously, what is the EROEI for our current nuclear technology?



Tue, 04/17/2012 - 13:10 | 2351978 DaveyJones
DaveyJones's picture

complicated. What the cost of the risk? of the spent fuel? The fuel source would last how long?  How many would we need to be build to replace the work of oil? What would it cost? How long would it take? Have you seen the studies of the wind just along the east coast? Could electrify most of our small fleet and a lot of our fuel /heat / cooling. Of course, once again, we are damn late on the transition. But the materials are a BIT safer and a BIT more common. How many airplane propellers did we suddenly build in WWII?   

Tue, 04/17/2012 - 13:16 | 2352001 hedgeless_horseman
hedgeless_horseman's picture



More complicated than oil?  Does the EROEI for oil include a risk adjustment?  You sound defensive.  Why not just Google it?

Tue, 04/17/2012 - 13:25 | 2352028 DaveyJones
DaveyJones's picture

Funny, I almost posted the same article. Like that author. Not defensive, just skeptical. In many ways it's more "complicated" - at least risk, waste, and fuel source volume   

Tue, 04/17/2012 - 11:44 | 2351652 NotApplicable
NotApplicable's picture


Those facts are not mutually exclusive.

BTW, I should junk you for posting that TP site. At least HuffPo has some humor. That place is stupid to the nth degree.

Tue, 04/17/2012 - 12:52 | 2351915 divide_by_zero
divide_by_zero's picture

Seriously?! Huffpoo has some humor?! Seems like the same bunch of Soros sponsored progressive whackjobs to me.

Tue, 04/17/2012 - 13:03 | 2351956 Harbanger
Harbanger's picture

The weather




The banks

The Rich


The Supreme Court

Stay at home moms



Tue, 04/17/2012 - 11:57 | 2351722 phalfa5
phalfa5's picture

nat gas next... 

they will tax and regulate in the name of saftey and environmental concerns, then go after the evil speculators that don' tow the line or pay the toll.  Yes, we probably need some sort of over site in this industry, but I remain somewhat skeptical on how fair and objective it will be. "Supporting Safe and Responsible Development" of course means government over site and control, complete with regulations designed to protect the people and environment (ie the insiders, favored individuals and corporations that will benefit from this and their "environment" of crony capitalism). Obviously, these government "safeguards" have a high cost (to be passed on to the consumer in overall higher prices and TAXES). There are committees to be established with high salaried bureaucrats, insiders, and industry executives to be paid (off), as well as numerous environmental impact studies and cost analysis (to the taxpayers and consuming public, as well as producers that "aren't on board") that need to be completed before congress can legislate (confiscate) a portion of the market through various taxes and lobbyist recommendations (donations). It's all very complex but thankfully we have our elected government officials (and appointed ones as well) to represent our (their) best interests.

here's a small excerpt, see the link for the entire article.

While Americans focused their attention on the Colombian controversy involving U.S. Secret Service agents, prostitutes and excessive drinking, President Obama quietly signed his latest Presidential Executive Order. The  Supporting Safe and Responsible Development of Unconventional Domestic Natural Gas Resources  Executive Order seeks to create what amounts to a Presidential super committee that will oversee the regulation and development of the ‘unconventional’ natural gas industry for the purpose of ensuring a long-term natural gas supply for the United States, as well as to do so in a safe and environmentally responsible manner.
Excerpts (Read the complete E.O.): While natural gas production is carried out by private firms, and States are the primary regulators of onshore oil and gas activities, the Federal Government has an important role to play by regulating oil and gas activities on public and Indian trust lands, encouraging greater use of natural gas in transportation, supporting research and development aimed at improving the safety of natural gas development and transportation activities, and setting sensible, cost-effective public health and environmental standards to implement Federal law and augment State safeguards. Because efforts to promote safe, responsible, and efficient development of unconventional domestic natural gas resources are underway at a number of executive departments and agencies (agencies), close interagency coordination is important for effective implementation of these programs and activities. To formalize and promote ongoing interagency coordination, this order establishes a high-level, interagency working group that will facilitate coordinated Administration policy efforts to support safe and responsible unconventional domestic natural gas development.
Tue, 04/17/2012 - 12:46 | 2351893 DaveyJones
DaveyJones's picture

yup, this is the crucial transition energy BUT it won't last long and we are way behind converting our economy and transportation systems. Like most empires, we put all our cards on the military and currency control. Stupid

Tue, 04/17/2012 - 11:44 | 2351656 Logans_Run
Logans_Run's picture

Before I saw your next post I thought you were posting Mr. Obama-Rogers.

Tue, 04/17/2012 - 12:33 | 2351836 AgShaman
AgShaman's picture

Wow...Tony Robbins looks alot older and like he's lost some weight.

That day trading is a Beotch!

Tue, 04/17/2012 - 11:21 | 2351536 xela2200
xela2200's picture

Are you kidding? At this point, I miss Jimmy Carter.

Tue, 04/17/2012 - 11:37 | 2351623 Vendetta
Vendetta's picture

I'm not sure about 'missing' Carter but I have to laugh at the blame of stagflation on Carter when it was Nixon's act of infamy on Aug 15, 1971 that caused the malaise of the 70's.

Tue, 04/17/2012 - 12:38 | 2351866 Ignatius
Ignatius's picture

Remove all taxes from gold ownership and exchange.  Let the gold price float in a physical only, cash & carry market and let it find its level as savings.

Since Nixon didn't do this, he had to close the window else all US gold would have gone out the door at $35/oz. Honesty wasn't Tricky Dick's long suit (ever, for a politician?) so we defaulted and blamed 'internation speculators' instead.  Who could see that coming....

Hence forth, have the treasury issue interest free US Notes.  If they issue too many it will be reflected in the gold price which competes with other savings vehicles.

That is all....

Tue, 04/17/2012 - 14:57 | 2352332 smiler03
smiler03's picture

So you're suggesting making gold a special case in which it can be traded in physical only? Surely you would have to do the same with every other commodity? 

No? Then your idea is complete nonsense.

Tue, 04/17/2012 - 11:44 | 2351661 Buckaroo Banzai
Buckaroo Banzai's picture

At least Jimmy Carter wasn't ignorant or malevolent, or psychologically disturbed. And he at least met the Constitutional requirements to qualify for election to the office of President.

Tue, 04/17/2012 - 11:45 | 2351614 vast-dom
vast-dom's picture

But Carter IS a genius....compared to Obama.


Markets up today because.....IQuit! This fucking shit is insane! Hey at least I'm making money right now on oil (speculators).....

Bullish on pure market bullshit

Tue, 04/17/2012 - 11:47 | 2351667 solgundy
solgundy's picture

Obummah is running the Huey Long play book campaign...the trouble is the Kingfish was running to the left of FDR........Obammah has to run to the left of himself....if that's is possible, I doubt that is possible...nothing is to

the left of Obummah

Tue, 04/17/2012 - 11:58 | 2351730 slaughterer
slaughterer's picture

All I need to do on this thread is punch the "+1"s on most everybody.  All has been said.  

Tue, 04/17/2012 - 12:22 | 2351799 Beatscape
Beatscape's picture

Oblabla says that the Keyston pipeline will have no impact on oil prices--that's pure BS and at best half-assed speculation.  Case in point, in two days with news of the reversal of flow in the Seaway pipeline from Cushing to the Gulf Coast will go into effect sooner that originally anticipated is having a major impact on the spread between WTI and Brent. He acts as if he's clueless.

Rather than focus on solutions, such as the Keystone pipeline, opening up more drilling in the Gulf and off shore, he wants to blame someone else.  This is not leadership, it is talk from an average joe who blames "them" for everything.  We have a joke for a president who is truly unqualified for the position.

Tue, 04/17/2012 - 12:55 | 2351926 DaveyJones
DaveyJones's picture

the "solution" has very little to do with chasing an energy source with exponentially decreasing energy returns.

Tue, 04/17/2012 - 11:10 | 2351470 Capitalist
Capitalist's picture

Mr Geithner what's the risk that oil spikes above $150/bbl as central banks print?

Geithner: No risk of that.

Tue, 04/17/2012 - 11:10 | 2351479 EscapeKey
EscapeKey's picture

Mr Geithner what's the risk of the public servants act on behalf of the voters placing them in their jobs?

Geithner: No risk of that.

Tue, 04/17/2012 - 11:15 | 2351498 SilverTree
SilverTree's picture

Uncivil War?


Geithner: No risk of that.

Tue, 04/17/2012 - 11:17 | 2351513 JPM Hater001
JPM Hater001's picture

Just for the record I did take a shot when we went back above 13000.  Anyone else still playing?  I hear there's some panama red coming in for the cross back over...shortly.

And now for a set of complete lies...

Tue, 04/17/2012 - 11:27 | 2351568 Chupacabra-322
Chupacabra-322's picture

@ SilverTree, It won't be Civil that's for sure:

Blackhawks Circle Low Through Chicago Skies as Secret Service Releases Security Details

Chicago - Blackhawks and A/MH-6 Little Bird helicopters used by special forces circling low through downtown Chicago skies made for a scary scene along the Chicago River, as they rattled windows flying among the city's skyscrapers.

The training exercise comes as the city found out some of the details of what the Secret Service wants for security at next month's summit at McCormick Place.

Tue, 04/17/2012 - 12:37 | 2351856 AgShaman
AgShaman's picture

With Rahm (Don't waste a crisis) at the post in Chi-town...

It has my vote as a likely next "False Flag" target.

Obama is already preparing his sermon....that follows Rahm's "Guiliani" moment, for all of Chicago's proud heroes

Tue, 04/17/2012 - 13:37 | 2352062 Chupacabra-322
Chupacabra-322's picture

@ AgShaman,

The Federal Government has a hunger for tax money, resources, and ammunition. We reported that the Department of Homeland Security (DHS), led by Janet Napolitano, awarded munitions manufacturer a five year contract for 450 million rounds of .40 caliber ammunition, two years after awarding Winchester munitions a five year contract for 200 million rounds .40 caliber ammunition.

This last Friday, DHS officials have put a bid out for even more ammunition, this time for the Federal Law Enforcement Training Center (FLETC).

The FLETC is headquartered at Glynco, Ga., near the port city of Brunswick, halfway between Savannah, Ga., and Jacksonville, Fla. and operates two other residential training sites in Artesia, N.M., and Charleston, S.C. However, The FLETC has oversight and program management responsibilities at the International Law Enforcement Academies (ILEA) in Gaborone, Botswana, and Bangkok, Thailand. The FLETC also supports training at other ILEAs in Hungary and El Salvador.

The ammunition requested will be sent to the Artesia site.

According to the Combined Synopsis/Solicitation, the following ammunition is to be delivered by the middle of May:

Item No . Description Qty Unit
001 .22 long rifle, 36 grains hollow point (HP) 5 TH
002 .308 175 grains match boat tail hollow point (BTHP) 1000 EA
003 .45 ACP 230 grains jacketed hollow point (JHP) 500 EA
004 .45 Colt / Long Colt, 25 grains lead 100 EA
005 .300 AAC black out, 125 grains open tip match 250 EA
006 .44 mangnum, 240 grains jacketed soft point 100 EA
007 .44 special, 240 grains lead flat nose 100 EA
008 .22 magnum, 40 grains jacketed hollow point 400 EA
009 .30-30 winchester, 150 grains soft point 100 EA
010 12 GA, # 8 bird shot 400 EA
011 .30-06, 168 grains match 500 EA

These caliber types are consistent with a variety of handguns and rifle, as if they were familiarizing new shooters on a variety of weapons, from .22 caliber to the 12 gauge shotgun, up to 100 rounds of 44 magnum ammunition.

It almost seems they are training “personnel” on how to use weapons that would be in most people’s homes.

Regardless of the reason, if asked they will never tell us the truth and this all falls under the umbrella of “National Security”.

Now don’t you feel more secure?


My take,

The order for “002 .308 175 grains match boat tail hollow point (BTHP) 1000 EA” – is an order for standard SNIPER rounds.

They anticipate going after at least 1000 people (one shot, one kill) with these. This is about ASSASSINATION, people. The U.S. Military switched from the 168 gr. Match HPBT to the 175 gr. Match HPBT because the additional mass keeps it stable out to 1,000 yards – better than the 168 gr. version, thus maintaining supersonic flight – and accuracy the 168 gr. round will not deliver. The 190 gr. version is just a little too heavy and causes a bit more recoil and wear on the rifle, so the 175 is the standard sniper round for the .308 caliber sniper rifle today.

Tue, 04/17/2012 - 14:15 | 2352200 AgShaman
AgShaman's picture

Ugh...thanks for the "energetic" info....I think?

Tue, 04/17/2012 - 14:54 | 2352316 Chupacabra-322
Chupacabra-322's picture

@ AgShaman, you're welcome.  Your job should you choose to accept it.  Is to forward this infomation to everyone and their mother.  This tape will self-destruct in 5-4-3-2-......

Tue, 04/17/2012 - 11:47 | 2351666 slaughterer
slaughterer's picture

Mr. Geithner what is the chance of gold spiking to $3000/oz when the USD loses its status as world reserve currency after the rest of the world gets fed up with Bernanke's inflationary money printing after Congress fails to find a satisfactory solution to our deficit problems?

Geithner: No chance of that.

Tue, 04/17/2012 - 12:56 | 2351933 DaveyJones
DaveyJones's picture

hard to believe a Goldman boy would act like that

Tue, 04/17/2012 - 11:09 | 2351471 SHEEPFUKKER

Why so much attention to something that is not even included in the CPI? lol

Tue, 04/17/2012 - 11:12 | 2351484 truont
truont's picture


Tue, 04/17/2012 - 11:43 | 2351653 nope-1004
nope-1004's picture


Tue, 04/17/2012 - 11:17 | 2351512 Shizzmoney
Shizzmoney's picture

Whenever I go on MSM website that have polls asking who is to blame on rising oil prices, I've seen 6 polls  for 3 different countries on this.

You see:

- Government (UK/US/whatever)

- Oil Speculators

- Big Oil Companies

- Iran


But you never see the one answer that explains it all.  Hint: this answer is also the entity who controls the money supply in which oil is traded on......

Tue, 04/17/2012 - 12:00 | 2351645 hedgeless_horseman
hedgeless_horseman's picture



Clearly, you understand the main secret of prestidigiFLATION...distract the audience.

Tue, 04/17/2012 - 11:46 | 2351669 Zero Debt
Zero Debt's picture


Tue, 04/17/2012 - 11:10 | 2351474 newstreet
newstreet's picture

Jimmy Carter was a genius.  Best President in my lifetime.

Tue, 04/17/2012 - 11:16 | 2351500 crawldaddy
crawldaddy's picture

everyone says, what would happen if a nice, good hearted, smart man was actually allowed to be president.  Well .. we did have that and the system and establishment chewed him up and spit him out.

Tue, 04/17/2012 - 11:21 | 2351542 EscapeKey
EscapeKey's picture

Seriously? Carter's administration was just about a complete rundown of who's who in the CFR and TC.

Tue, 04/17/2012 - 11:42 | 2351649 karzai_luver
karzai_luver's picture

Guess you are impliying that one of those admins has been any different?


Comedy of that sort is tired. give it a well deserved death.


Tue, 04/17/2012 - 11:44 | 2351658 hedgeless_horseman
hedgeless_horseman's picture



"It was the darndest thing I've ever seen. It was big, it was very bright, it changed colors, and it was about the size of the moon. We watched it for ten minutes, but none of us could figure out what it was. One thing's for sure, I'll never make fun of people who say they've seen unidentified objects in the sky. If I become President, I'll make every piece of information this country has about UFO sightings available to the public and the scientists."


JIMMY CARTER, remark during 1976 Presidential campaign

Tue, 04/17/2012 - 12:59 | 2351946 DaveyJones
DaveyJones's picture

it's the new energy source

Tue, 04/17/2012 - 12:00 | 2351732 knightowl77
knightowl77's picture

Little Jimmy had ZERO common sense and was naive beyond belief....


Bad combo to be President.....minister or mayor maybe, but not Prez...

Tue, 04/17/2012 - 12:10 | 2351766 Cruel Aid
Cruel Aid's picture

He's alive and stupider 'n evah.

Tue, 04/17/2012 - 15:09 | 2352375 smiler03
smiler03's picture

He was an appaling speaker. All I remember of him was it taking about 5 minutes to speak a 10 word sentence.

Tue, 04/17/2012 - 11:45 | 2351659 Vendetta
Vendetta's picture

He may have been the least corrupt of your and my lifetime.  But my sneaky suspicion is the only president of our lifetime that stood up to the bankers had his head blown off in 1964.

Tue, 04/17/2012 - 12:22 | 2351800 VisualCSharp
VisualCSharp's picture

Pretty sure it was November of '63, but okay.

Tue, 04/17/2012 - 13:18 | 2352007 pods
pods's picture

And pretty sure he never stood up to the bankers either.


Tue, 04/17/2012 - 11:10 | 2351476 SumGuy
SumGuy's picture

Look how ES has become de-linked with CL this morning.

And CAD has gone ballistic.


Tue, 04/17/2012 - 11:12 | 2351478 GeneMarchbanks
GeneMarchbanks's picture

Warning: Mouthgarbage

Tue, 04/17/2012 - 11:34 | 2351604 1100-TACTICAL-12
1100-TACTICAL-12's picture

"For the first time in my life I am proud of my country"

Tue, 04/17/2012 - 11:11 | 2351480 azzhatter
azzhatter's picture

The embarrassing fool continues

Tue, 04/17/2012 - 11:11 | 2351481 Long-John-Silver
Long-John-Silver's picture

I can't stand to watch this on-going economic train wreck any more. I know what's coming and I would rather have the blindfold placed over my eyes. I refuse to watch........

Tue, 04/17/2012 - 11:17 | 2351508 EscapeKey
EscapeKey's picture

Despite this taking a whole lot longer than logic would dictate, you should pay attention. Timing is everything, and precious metals will peak at some point (and some other more worthwhile asset move the other direction).

Tue, 04/17/2012 - 11:21 | 2351547 Doubleguns
Doubleguns's picture

If we could just cut off the ink supply.

Tue, 04/17/2012 - 11:36 | 2351615 SWCroaker
SWCroaker's picture

Yawn.  Wake me up when they're both an order of magnitude greater than current prices.

If it isn't at least that, I'm gonna really be ticked off.  "My Fed Chairsatan spent $50 Trillion dollars bailing out world insolvency and all I got for it was this lousy Ag/Au T-Shirt...".  

Better not be needing close watching cause the top is nigh...

Tue, 04/17/2012 - 11:37 | 2351622 Long-John-Silver
Long-John-Silver's picture

I already know exactly what he is going to say. Why torture myself further?

Tue, 04/17/2012 - 11:13 | 2351483 undercover brother
undercover brother's picture

next thing he'll be saying is oil speculators rig the S&P too.   if he had even a single clue about how this works, he'd be calling his treasury secretary & the fed chairman into the oval office and telling them to cut the crap with devaluing the dollar.

Tue, 04/17/2012 - 11:13 | 2351485 Timmay
Timmay's picture


Tue, 04/17/2012 - 11:13 | 2351486 larrygav1962
larrygav1962's picture

So Dohbama is finally going after the Fed who manipulates all markets?

Tue, 04/17/2012 - 11:14 | 2351487 toddf
toddf's picture

How late will Obama be today?  15 minutes?  20 minutes?

Tue, 04/17/2012 - 11:14 | 2351494 Gert_B_Frobe
Gert_B_Frobe's picture

Lot of people have been waiting 3 1/2 years for him to show up.

Tue, 04/17/2012 - 11:15 | 2351501 Timmay
Timmay's picture

He showed up alright, just not what you expected I guess.

Tue, 04/17/2012 - 12:09 | 2351761 krispkritter
krispkritter's picture

And a lot more people have been waiting 3 1/2 years for him to go the f'ck away...

Tue, 04/17/2012 - 11:22 | 2351554 Floordawg
Floordawg's picture

America is now on BPT

Tue, 04/17/2012 - 11:26 | 2351564 toddf
toddf's picture

The AssClown just passed 15 minutes being late.  At least he is consistent in one area of his friggin presidency.

Tue, 04/17/2012 - 11:14 | 2351493 Catullus
Catullus's picture

Cue "tax breaks to oil companies" which amounts to deducting depreciation of equipment from taxes. Don't mention that "tax subsidy" is also the same for electric power companies. No mention that that deducting taxes for depreciation of long lived assets is the only reason anyone finances a solar or wind project.

Tue, 04/17/2012 - 11:45 | 2351665 karzai_luver
karzai_luver's picture

Don't mention that any project done for a tax break should not be started.

Don't mention that all this tax break crap should be done away with.


Let's get serious; those who get the breaks call the dance tunes for obamao and all the other cretins that inhabit this fascist gvt.



Tue, 04/17/2012 - 11:16 | 2351497 Everybodys All ...
Everybodys All American's picture

What's the next step? Nationalization.

Tue, 04/17/2012 - 11:21 | 2351548 brewing
brewing's picture

that's what he'd like to do...

Tue, 04/17/2012 - 11:30 | 2351578 Doubleguns
Doubleguns's picture

SSSSSHHHHHHHTFU!!! Please do not give them any ideas!!!!!! My god!!!

Govt run oil!!!!! Tax payer bailouts of the oil complanies, pipe lines, refiners etc.... would dwarf fanny and freddie. I am sure BO would just love to hire Barney Frank and Chris Dodd to help run it now that they are out of office.

A community organizing disaster is what it would be!!!

Tue, 04/17/2012 - 11:29 | 2351581 kralizec
kralizec's picture

What was GM & Chrysler but a nationalization?  Bondholders told to fuck off and unions get paid off.

Time for capitalists to either fight back or go Galt and burn their shit to the ground, either way kissing Ruling Class ass has to stop!

Tue, 04/17/2012 - 11:49 | 2351672 karzai_luver
karzai_luver's picture

many are all but nationalized , o by the way, that's your chairsatan at work.

Has nothing to do with obamao and will have nothing to do with mittens should he get in,jeez the stupid on here is really rising faster than obamao silly rhetoric.

Should be impossible................buttttttttttttttt

Tue, 04/17/2012 - 11:55 | 2351716 Everybodys All ...
Everybodys All American's picture

Was that not the US Secretary of Treasury beside him? The source of all our debt to which the chairsatan becomes the nearly sole buyer of the debt? Watch who you call stupid.

Tue, 04/17/2012 - 11:16 | 2351502 Gert_B_Frobe
Gert_B_Frobe's picture

Empty podum .... best view of this admin ever.

Tue, 04/17/2012 - 11:47 | 2351673 NotApplicable
NotApplicable's picture

He's working on his jumpshot off of a pick. Word has it, the pick and roll play isn't his strong suit (too many moving parts).

Tue, 04/17/2012 - 11:15 | 2351504 firstdivision
firstdivision's picture

I would like to add "speculation" to the shot words.  Additionally, one must do a waterfall drink for the time period that Obama has that smug smile on his face.

Tue, 04/17/2012 - 11:17 | 2351506 crawldaddy
crawldaddy's picture

this site reminds me of this scene in the simpsons'



Tue, 04/17/2012 - 11:15 | 2351507 Dr. Engali
Dr. Engali's picture

Another four years of this guy and the police state lock down there will be boat people escaping to Cuba.

Tue, 04/17/2012 - 11:19 | 2351527 Bay of Pigs
Bay of Pigs's picture

Rum and Cohibas bitchez...

Tue, 04/17/2012 - 11:21 | 2351543 Dr. Engali
Dr. Engali's picture

I'm a Crown and Fuente guy.

Tue, 04/17/2012 - 11:33 | 2351600 Chump
Chump's picture

Here's the other +1 I owe you.

Tue, 04/17/2012 - 11:36 | 2351618 ebworthen
ebworthen's picture

Seagram's 7 and a Gispert or Carlos Torano Churchill.

Tue, 04/17/2012 - 11:20 | 2351529 crawldaddy
crawldaddy's picture

yeah its one guy responsible for this. My god, grow up, this has been going on and on track for decades.

Tue, 04/17/2012 - 11:27 | 2351546 Dr. Engali
Dr. Engali's picture

Yeah I get that. Maybe you should familarize yourself with sarcasm.

Tue, 04/17/2012 - 11:49 | 2351684 crawldaddy
crawldaddy's picture

sarcasm? maybe you should learn what it means and how it is done, what you said and continue to say in your comments are far far from sarcastic. Misinformed for sure, overly simplistic without a doubt, but sarcastic? doubtful.

Tue, 04/17/2012 - 12:08 | 2351749 Dr. Engali
Dr. Engali's picture

Your commentary about Jimmy Carter being a "good hearted smart man" just goes to show how clueless you really are. He was about as inept and corrupt as this whole system is. But I don't need to explain my positions to the likes of clearly are a party person who buys into the  red-blue team story an doesn't understand that they are all the same and they don't answer to th American public.

Tue, 04/17/2012 - 12:08 | 2351757 V in PA
V in PA's picture

Never argue with stupid people, they will drag you down to their level and then beat you with experience.- Mark Twain

Tue, 04/17/2012 - 11:18 | 2351511 StockHut
StockHut's picture

Can't even give us the decency to show up on time?

Tue, 04/17/2012 - 11:17 | 2351515 bidaskspread
bidaskspread's picture

I found a speculator, his name is Steven Chu. He speculates in the renewable energy market.

Tue, 04/17/2012 - 11:17 | 2351517 SillySalesmanQu...
SillySalesmanQuestion's picture

More blathering, dithering, drivel from the PopeBama about how bowing down and kneeling before tha altar of cental planning will root out the "evil speculators" from the oil market...

Tue, 04/17/2012 - 11:18 | 2351521 Kina
Kina's picture

This is the story that I can't reach in text or audio at King World News. Have tried numerous times.

Is this the one they are blocking people from seeing/hearing??


Rick Rule Audio - Most Spectacular Opportunity in Ten Years

Tue, 04/17/2012 - 12:02 | 2351741 grgy
grgy's picture

The King World News Internet site was attacked this week in ways that seemed aimed particularly at the network's revelatory interview April 5 with its London metals market trader source.

The major Internet hosting company that maintains the King World News site reported to the network: "The servers you are hosted on are what we call 'under guard' due to external attack. Sometimes there are millions of these attacks. Without these 'guards' in place, the servers would effectively become flooded and would be unable to display your website."

Eric King told GATA today: "The attacks started when the London trader interview piece was released April 5. The attacks continued and intensified when our interview with Jim Sinclair's futures market analyst, Dan Norcini, was published on April 11. A very powerful entity did not want this information out there."


Tue, 04/17/2012 - 11:21 | 2351535 Everybodys All ...
Everybodys All American's picture

The telepromptor is late.

Tue, 04/17/2012 - 11:19 | 2351537 konputa
konputa's picture

Does this guy have 0 respect for our time or what? He has to be the least punctual president in history.

Tue, 04/17/2012 - 11:52 | 2351697 karzai_luver
karzai_luver's picture

I would say that if you are waiting to watch the clown, then he can't possibly have less respect for your time than you do.



Tue, 04/17/2012 - 11:20 | 2351544 sbenard
sbenard's picture

All socialist dictators do this! Speculators are just an easty scapegoat. They are a MANFESTATION of the problem, not the CAUSE of the problem.The CAUSE is too much government, too much debt, and too much monetization of that debt!

A friend told me recently that this happened in his home country in the 70's. The socialist president promised all kinds of "free stuff" to his people, especially the unions. Once elected, he spent money without restraint, monetizing the debt. Hyperinflation eventually was the result.Stock market inflation was one manifestation of it.

Blaming speculators was one of that socialist's blame games, too!

We are headed the same direction.

Tue, 04/17/2012 - 11:21 | 2351545 xela2200
xela2200's picture

So let me see if I get this. Bernak needs to print more money which will cause oil to go up. Therefore, they need a scapegoat now, so speculators it is.

Tue, 04/17/2012 - 11:23 | 2351549 CABill
CABill's picture

This is how the opposite of the 'Buck stops here' president operates.


Don't take responsibility, redirect blame on someone else, assume the public is stupid enough to believe you.

Tue, 04/17/2012 - 11:55 | 2351707 karzai_luver
karzai_luver's picture

Someday sometime in a galazy far far away some sheep will understand that the Prez of the exceptional country on a hill doesn't control shit.

He takes requests and acts as a bag man on his best day.

Tue, 04/17/2012 - 11:23 | 2351550 crawldaddy
crawldaddy's picture

what country was that ?

Tue, 04/17/2012 - 11:22 | 2351552 roadhazard
roadhazard's picture

Obama hasn't said anything he hasn't said before. Oil speculators of Any Stripe that cannot accept delivery of a barrel of oil are just out to make a buck by pushing the price higher thereby doing there part to fuck the world public. Oil speculators are part of the same problems that you bitch about daily.  Give me those down arrows, you are what you are.

Tue, 04/17/2012 - 11:28 | 2351574 Chump
Chump's picture

What about speculators who make a quick buck by shorting?  What about speculators who lose a quick buck when the price drops?  Evil speculators are blamed when financials are getting ripped to shreds, but then speculators are blamed when the price of oil rises.  Did speculators get the credit for low low oil prices in late 2008?

I don't know much, but I'm pretty sure you have no idea what you're talking about.

Tue, 04/17/2012 - 11:35 | 2351612 Clowns on Acid
Clowns on Acid's picture

No down arrow roadhaz, just a bit of advice. Price discovery in markets is a complicated event, the structure of US futues markets gives about as much order and clarity to the price and volume as any market place in the world. There are "rules" and position limits in place. Yes they have been manipulated by the short fingered vulgarians. 

Yes there are proble ms with the model right now...but that is more a reflection on the zero interest rates offered to the TBTF banks, who can then offer those same rates (adding a ham sandwich) to speculators.

Specs give liquidity to the market for real users / hedgers to find a price / volume. Speculators have their job within the eco system of a "free" futures marketplace.  When the Fed and Obaa Admin light both ends of the fire cracker (ZIRP and increased regs for oil exploration in US)....where would you place your bets..?

Tue, 04/17/2012 - 11:45 | 2351664 Doubleguns
Doubleguns's picture

Yep there are speculators out there and they work many markets to include silver. Margin increases with position limits on those who are not end users of the product (JPM comes to mind) would get us a real market price but BO and all would never want to name the speculators out right because maybe campagn bribes errr...contributions might get hurt.

BO you should be swinging for the fence not bunting, but what would a community organizer know about baseball.

Tue, 04/17/2012 - 11:24 | 2351553 Chump
Chump's picture

Drunk before noon is not a good look for me, so I'm going to have to bow out of this game.

Tue, 04/17/2012 - 11:25 | 2351558 johnnymustardseed
johnnymustardseed's picture

They are fucking villians!!! Everybody that reads this blog knows that. They are the same banks and hedge funds that have fucked all the markets. Do you think the stock market goes up and down 500 points in a couple of days because the common people are moving their money around in their 401k's? I would love to see the president rail against all of them, but he won't. True Capitalism has failed and been replaced by a rigged market that makes assholes like JPM the rulers of all wealth.

Tue, 04/17/2012 - 11:36 | 2351626 JustObserving
JustObserving's picture

How about fixing the precious metals markets?  Oh, the Fed wants gold and silver low so confidence in fiat dollars remains high.  Let that manipulation continue.

Tue, 04/17/2012 - 11:25 | 2351562 Money 4 Nothing
Money 4 Nothing's picture

Yea! Damn speculators! has nothing to do with them auctioning off our SPR to J.P. Morgan right?

Tue, 04/17/2012 - 12:05 | 2351753 HagbardC
HagbardC's picture

You know, I've been looking for a J.P. Morgan gas station ever since they bought in to that SPR release, figuring they'd probably just plow the savings right in to the retail price at the pump.

Still looking- no luck so far. Starting to think that purchase may have been a bit speculative myself.

Tue, 04/17/2012 - 11:27 | 2351563 HarryM
HarryM's picture

Oil prics do seem to defy the "Supply and Demand" model.

Tue, 04/17/2012 - 11:52 | 2351689 Vendetta
Vendetta's picture

Those prices certainly do not seem to correlate pricewise with the baltic dry index in 2008 compared to now.

Tue, 04/17/2012 - 11:27 | 2351569 Fix It Again Timmy
Fix It Again Timmy's picture

A plethora of pablum for the populace - as it was in the beginning and as it will be until the end....

Tue, 04/17/2012 - 11:29 | 2351571 ZippyBananaPants
ZippyBananaPants's picture

Two-Minute Warning  All replays are now at the mercy of the booth 

Tue, 04/17/2012 - 11:27 | 2351572 sbenard
sbenard's picture

Every time the do this (they've done it before), it cause a short-term drop, followed by a long-term POP in prices. Most often, these margin increases result in a drop for a few hours, or a few days, but ultimately, they result in a decline in liquidity that only results in prices rising even higher instead!

One reason for this is that by shrinking the liquidity pool, it enables and empowers blue whale investors. Soros is famous for his ability to identify a market that he can manipulate with his billions. A small or limited liquidity pool is key to this strategy.

Blue whale investors get more traction in an environment like this because they can throw their weight around more in a fish pond of liquidity than an ocean of liquidity.

This talk from the Propaganda President will ultimately serve both his elitist billionaire buddies and his agenda of pumping up the price of energy even higher! It's brilliant -- and diabolical -- at the same time!

Tue, 04/17/2012 - 11:29 | 2351573 grunk
grunk's picture

Long pond scum.

Tue, 04/17/2012 - 11:29 | 2351579 Tenshin Headache
Tenshin Headache's picture

That "right now" thing is getting old.

Tue, 04/17/2012 - 11:29 | 2351580 Everybodys All ...
Everybodys All American's picture

When you sit back and think about what this guy is about to say you will conclude that we have truly gone a long way down the wrong track. What a bunch of nonsense.

Tue, 04/17/2012 - 11:29 | 2351582 Spigot
Spigot's picture

First, why did he not mention the Trevon Martin case, an obvious example of the evil spawn of evil white society gunning down poor innocent colored children...oh, right, ol'Zim is half latino/half jewish...and black on black gunning downs amounts to 100's per year just in Chi-Town, right? So, I can see why he opted out of including that.

Maybe he's trying to whip up anti-semitic sentiment again evil jewish speculators destroying the good ol'USA using oil and gas prices...except that the Fed.Gov&Fed.Res bi-umverate is the sole control of money let just forget the whole thing.

And let's forgot the $1.5 trillion annual Fed.Gov deficit, and ...well let's just forget about it.

Tue, 04/17/2012 - 11:58 | 2351728 karzai_luver
karzai_luver's picture

jeezbus, call a fukin plumber you have serious off track brain leaks.




Tue, 04/17/2012 - 11:37 | 2351583 Flakmeister
Flakmeister's picture

Given the absolute bullshit that listeners of Fox News and Rush seem to believe, BO is figuring that if he can fool the sheeple with some more bullshit for 6 more months then all is good...

Tue, 04/17/2012 - 11:43 | 2351646 Flakmeister
Flakmeister's picture

Caught the tailend of O's spiel...

More bullshit  and sleight of hand on oil production and import figures (then again no worse than anyone from the otherside of the aisle...)

Classic politics, calling on the Repub congress to enact some stuff that is DOA and thereby giving BO the out that Congress is protecting the speculators....

Kabuki theatre at the finest.....

Now the mouthpiece on CNBC is lieing through his teeth about regulations closing refineries causing higher gas prices....

Without any understanding of the real fundamentals of energy, this country deserves what it gets....

Tue, 04/17/2012 - 11:38 | 2351584 Dr. Engali
Dr. Engali's picture

Added enough gas and oil  line to circle the earth and then the lies are getting bigger and bigger.

Tue, 04/17/2012 - 11:53 | 2351700 V in PA
V in PA's picture

Big enough to circle the earth... and then some.

Tue, 04/17/2012 - 11:31 | 2351590 DeadFinks
DeadFinks's picture

I move my cursor and drive its point into his coconut head.

Tue, 04/17/2012 - 11:32 | 2351591 BeetleBailey
BeetleBailey's picture

came in and the first audio sound I heard was......


"but as I said repeatedly, we use more than 20% of the worlds oil...." cut it off.....



sums it up.....Obangnyi.....making the oil markets "fair" sound bite at a time....

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