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Obama Aide Refutes Report On SPR Release

Tyler Durden's picture




 

We thought it was getting stupid one post ago. Not sure what to call this then:

  • REPORT OF AGREEMENT ON OIL RELEASE INACCURATE - OBAMA AIDE

But not false? At least the report of a mass aggregation of US naval assets off the coast of Iran is still 100% spot on. For those who wonder what just happened, it is called a "headline market test" - since Crude dropped less than $2 on the report of the release, the final action, which would be very politically unpopular, may just not be worth it for Barry.

 

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Thu, 03/15/2012 - 12:08 | 2258139 nope-1004
nope-1004's picture

Oil prices fell?  Check.

Good job team.  Tomorrow we announce 4 new gold mines with huge reserves.

 

Thu, 03/15/2012 - 12:09 | 2258154 Tarheel
Tarheel's picture

If we cant trust a kenyan born, muslim extremist raised American President then who can ya trust??

Thu, 03/15/2012 - 12:16 | 2258197 jelyfish
jelyfish's picture

Not to defend Obama, but did you say 'muslim extremist'? What?

Thu, 03/15/2012 - 12:18 | 2258211 SHEEPFUKKER
SHEEPFUKKER's picture

Market manipulators!! Market manipulators!!! I am going to sick the SEC, CFTC, and whatever other worthless whores of regulating bodies on you. 

Thu, 03/15/2012 - 12:42 | 2258352 trav7777
trav7777's picture

so are we or are we not going to dump our SPR?

This is like fucking Gordon Brown selling UK's gold

Thu, 03/15/2012 - 12:47 | 2258381 SHEEPFUKKER
SHEEPFUKKER's picture

To dump or not to dump.  

Thu, 03/15/2012 - 13:03 | 2258453 ConfederateH
ConfederateH's picture

It appears that filling or using the SPR is not accounted for in determining the budget balance.  The question then becomes under which presidents was the SPR added to and under which ones was it squandered?

Thu, 03/15/2012 - 13:46 | 2258622 iDealMeat
iDealMeat's picture

Hey Iran.....

Enterprise is on the way..  How bout we trade you 8 reactors with install,training, and support for some oil.

Let's say..  For as long as the reactors work, oil
flows to the US.

deal ?

Thu, 03/15/2012 - 14:23 | 2258735 Pinto Currency
Pinto Currency's picture

 

 

Waiting for Barry to announce he's selling-off the entire US SPR to help pay down the deficit.

 

--------------------------------------

“I’m LeBron, baby. I can play at this level. I got game.”

 Barack Obama 2004

 

"And don’t try to convince me with his academic credentials. Because nobody has seen them. Not you, not me, not the press. Nobody. (Do you even wonder why not?) Editor of the Harvard Law Review? Yet not a single article written by him. Not a single scholarly paper. On anything."

http://urbangrounds.com/2011/08/obama-not-smart/

 

Thu, 03/15/2012 - 16:33 | 2259259 RmcAZ
RmcAZ's picture

Holy shit, awesome idea. All they need to do is jack oil to $22,270/barrel and we would have zero debt!

Thu, 03/15/2012 - 16:37 | 2259273 Pinto Currency
Pinto Currency's picture

 

 

The Fed is working on it.

 

Thu, 03/15/2012 - 20:52 | 2260145 StychoKiller
StychoKiller's picture

It's getting so ya can't believe yer own Goobermint...

Thu, 03/15/2012 - 12:43 | 2258356 smlbizman
smlbizman's picture

do we remember the last release....jpm got 200mil. barrels of it....i assume they used it to short oil? you know the way were you'r suppose to have the thing ur shorting..sorta..

Thu, 03/15/2012 - 20:55 | 2260159 StychoKiller
StychoKiller's picture

S'okay Early, just down some mo' Glug™!  :>D

Thu, 03/15/2012 - 12:19 | 2258216 idea_hamster
idea_hamster's picture

I think that's spelled "Keynesian born."

Besides, the inaccuracy was that the oil is going to be "released," but rather shipped directly to China.  They got the idea from the EU's escrow account for Greece.

Thu, 03/15/2012 - 12:23 | 2258235 SheepDog-One
SheepDog-One's picture

Exactly, if anything its being released to China. Hello $5 spring oil.

Thu, 03/15/2012 - 12:43 | 2258343 Manthong
Manthong's picture

. crazy situation

Thu, 03/15/2012 - 12:16 | 2258200 jus_lite_reading
jus_lite_reading's picture

It's all planned out... in preperation of the war that is about to begin very soon. 

Thu, 03/15/2012 - 12:21 | 2258228 EscapeKey
EscapeKey's picture

In other news; Obama now considers Iran part of the US SPR.

Thu, 03/15/2012 - 12:25 | 2258253 Conrad Murray
Conrad Murray's picture

A release from the SPR leads me to believe war is off the table.

Then again, with an administration that is clearly a domestic threat out to destroy America, a captured and neutered CONgress, and a Supreme Court whose allegiances lie elsewhere, who knows.

Thu, 03/15/2012 - 12:37 | 2258329 jus_lite_reading
jus_lite_reading's picture

On the contrary... THAT was just a test...

Thu, 03/15/2012 - 12:58 | 2258428 kito
kito's picture

war isnt happening until obamas 51 pct of american households receiving government assistance automatic majority reelects him...............

Thu, 03/15/2012 - 13:40 | 2258592 walküre
walküre's picture

A release from the SPR leads me to believe war is off the table.

Why off the table? It would make perfect sense to order the release a week before war breaks out. That way the flow is uninterrupted. Read the other day that Europe expects minimal impact from an Iranian oil embargo.

If a war isn't coming, a full blown embargo is underway. The strategy is to cut the Iranian regime where it hurts them most.

 

Thu, 03/15/2012 - 12:31 | 2258260 AL_SWEARENGEN
AL_SWEARENGEN's picture

These no good hypocrite cocksuckers haven't the slightest idea of what the end consequences will be when their obviously psychopathic agenda unfolds.  Will Russia and China sit idly by like children nations sipping their vodka and smoking their opium while all their business interests in the region are stolen from out under them??  Hell no.  This is the stuff world wars start with and it appears, more and more aparent every day, that this is the military industrial complex's goal.

Thu, 03/15/2012 - 12:36 | 2258327 jus_lite_reading
jus_lite_reading's picture

>>"This is the stuff world wars start with..."<<

You said it! They know that because the global ponzi is imploding and they can't keep the illusion going that much longer, they must begin now with the last alternative... WWIII 

They have no hope except that WWIII will wipe out all debt and the US will come roaring back with a clean slate and all records of the corruption will vanish in the chaos...

You will see

Thu, 03/15/2012 - 12:41 | 2258349 walküre
walküre's picture

To wipe out the debt and records of corruption, the next false flag would have to bring death and destruction .. mostly destruction to DC.

Not saying it can't happen, but I doubt it will. The last false flag took care of the missing 2.3 trillion Pentagon expenses.

Unless you're suggesting that US records of debt and corruption are kept outside of the US? The only logical target would be China but we're years from attacking China. That's just not sensible right now. WW4 perhaps.

Thu, 03/15/2012 - 12:47 | 2258380 jus_lite_reading
jus_lite_reading's picture

One thing I can guarantee... there will be no WW4 as Einstein implied.

The stench of corruption stinks to high heaven and they know it... thus underground bunkers built with missing pentagaon monies

Thu, 03/15/2012 - 13:15 | 2258504 walküre
walküre's picture

They knew it 100 years ago. They've always known it. What is new other than the fact that the truth is literally out there? The truth is out there and we can discuss it openly but we can't do a darn thing about it! They KNOW THAT!

They are virtually impunible and untouchable for as long as .. their fake fiat is buying them all the things they like.

When the confidence in their precious fiat erodes, they're protected with gold and silver until the next fiat experiment.

Why the RUSH to right the ship in 2008/2009? They could care less about starving the world. Shit was inches from hitting the fan back then and they orchestrated a concerted effort of financial wizardry and massive propaganda to keep things under the lid.

The more this drags on, the more I resign to the fact that nothing will change and we are being oppressed by their fake fiat regime for decades more. They have everything, we have nothing. We get to live, eat, drink and shit and serve their illusion of a free society. They live lavish, they control currency and they do as they please. Same as it ever was.

Thu, 03/15/2012 - 13:40 | 2258596 jus_lite_reading
jus_lite_reading's picture

Just in case you didn't see this....

http://fiatsfire.blogspot.com/2012/03/stinky-thursday.html

Kind of puts the whole thing in view!!!!! No more SWIFT for IRAN is REALLY PUSHING THEIR BUTTONS!! 

THEN the whole CME withdraws from the EU derivative responsibility!!! Did TYLER mention this?? THIS IS HUGE!! THE SHIT is already hitting the fan IMO!!

Thu, 03/15/2012 - 13:43 | 2258608 jus_lite_reading
jus_lite_reading's picture

And then I READ THIS the other day!!!

http://endoftheamericandream.com/archives/america-is-being-transformed-from-a-wealthy-nation-into-a-poor-nation-at-breathtaking-speed

With this news APPLE CAN GO TO $2000!!!

ZIMBABUSA!!

Anyone who can not see that a collapse is coming REAL soon is living a fantasy!!

Thu, 03/15/2012 - 15:17 | 2258947 walküre
walküre's picture

thanks for the links. this is anything but "lite reading" .. you should change your monnicker / lol

good stuff.

Thu, 03/15/2012 - 13:36 | 2258579 Dapper Dan
Dapper Dan's picture

And don't forget the civilian submarines built and sold the last 10 years!

http://www.luxury-insider.com/legacy/Regulars/Current_Affairs/Luxe_Subs/

US Submarines, a Florida-based company, are experts in luxury submarines. Forget the claustrophobic submersibles you may have seen in movies. Civilian luxury submarines are ultra-comfortable underwater cruisers.

The company makes a variety of luxury underwater craft, including the 118-foot Seattle 1000 and the 65-foot Nomad 1000. These allow one to cruise silently through the world’s great oceans, exploring earth’s lesser known frontiers. With their beautifully-trimmed interiors and extra-long underwater cruising ability, they are truly the place to get away from it all.

What really gets us excited however is the proposed Phoenix 1000. Originally commissioned by an undisclosed client, the design remains something of a fascinating technical marvel, as yet unrealized. At over 210 feet (65 meters) in length - megayacht territory - this would be the world's largest and most luxurious submersible craft.

Over the last decade, luxury boat builders have begun building submarine yachts. Submarine construction technology has come a long way in the past century, and it's possible to build these boats at an affordable ($15-200 million) cost. They are safe, and there are about a hundred of them out there. A few companies have gained a lot of experience building subs for non-military underwater operations (academic research, oil exploration), which has created a cadre of information and technicians who can build these recreational subs. One of the largest civilian submarine yards is in Dubai, where 18 have been built so far, and over two dozen are under construction or on order. Another large operation is U.S. Submarines, in Seattle, a company that has built most of the scientific communities subs over the last two decades. These submersible pleasure craft look like streamlined yachts while on the surface. The upper deck, including the bridge, is outside the pressure hull. When submerging, everyone goes below, and the upper deck get flooded. If you get close to one of these yachts, it becomes obvious that they are built to dive. Military subs are still not used to encountering this civilian traffic underwater. The military boats have the right of way, but military boats are now warned to exercise extra care when approaching coastal areas used by civilian subs.

http://www.ussubmarines.com/

At U.S. Submarines we have developed the world's first personal luxury submarines, capable of taking you and your guests to unseen regions of the deep ocean in perfect comfort and absolute safety. And once there, you are able to view the fascinating denizens of the deep through large, panoramic viewports, while relaxing in an interior replete with luxury and warmth,

The Phoenix 1000 is a 65-meter (213') personal luxury submarine. The initial design was originally executed for a client and now awaits a buyer. As proposed, the submarine would constitute the single largest private undersea vehicle ever built, and arguably, one of the most significant personal transportation devices of the century.

A Luxurious Undersea Vehicle

This design, which we have named the Phoenix 1000, has more than ample space. The total interior area of the submarine is in excess of 460 square meters (5000 square feet). The significant volume, coupled with very large acrylic viewports, and the potential for relatively large open spaces, results in a vehicle as luxurious as the finest of motor yachts.

Thu, 03/15/2012 - 13:48 | 2258628 jus_lite_reading
jus_lite_reading's picture

Wow!! That sure as hell beats living in an underground bunker!! LMAO!!

Right now anything survival related is selling....

Thu, 03/15/2012 - 14:15 | 2258707 Taint Boil
Taint Boil's picture

 

 

“I do not know with what weapons World War III will be fought,
but World War IV will be fought with sticks and stones.”

----- Einstein

Assume it was him who said it ,,,, but good enough.

Thu, 03/15/2012 - 13:08 | 2258473 viahj
viahj's picture

the next goal is a global currency and the $ isn't it so unless you have gold (basket of commodities) your exchange rate from $ to SDRs will be shit.  seeing how most of the gold is concentrated into a few hands, i don't see how, even with the new currency, that the US will come roaring back.  on the contrarty, it will continue to decline to the LCD of the global system.

Thu, 03/15/2012 - 12:18 | 2258213 SheepDog-One
SheepDog-One's picture

Big deal, WTI 'fell' all the way to 105? I guess thats their SPR mission accomplished for today? Kooky.

Thu, 03/15/2012 - 12:57 | 2258425 Randall Cabot
Randall Cabot's picture

LOL They put out the rumor just in time to spike Europe into the close. And then they refute it a few minutes after Europe's markets do close.

Thu, 03/15/2012 - 12:07 | 2258143 azzhatter
azzhatter's picture

Was it Steven Chu? He's reputable and a helluva investor

Thu, 03/15/2012 - 12:08 | 2258147 Spartan
Spartan's picture

Nothing on Reuters, what jokers!

Thu, 03/15/2012 - 12:08 | 2258149 lizzy36
lizzy36's picture

Jesus, can someone get Jamie Dimon on the phone and clarify the timing of the release from SPR.

Thu, 03/15/2012 - 12:09 | 2258156 mayhem_korner
mayhem_korner's picture

 

 

Mr. Owl, how many $#%& ups does it take for an Obama aide to become a corpse?

The world may never know...

Thu, 03/15/2012 - 12:09 | 2258158 Wakanda
Wakanda's picture

We flew past stupid months ago.

Thu, 03/15/2012 - 12:14 | 2258185 GeneMarchbanks
GeneMarchbanks's picture

Aren't algos fun?

Thu, 03/15/2012 - 12:12 | 2258162 SheepDog-One
SheepDog-One's picture

The report was 'not accurate'....they left out .gov and meant to put in .clownfart tagline.

WTF??

Thu, 03/15/2012 - 13:33 | 2258569 mayhem_korner
mayhem_korner's picture

 

 

Was this more untrue than the Saudi pipeline accident from a week or so ago?  My farce-o-meter is broken...

Thu, 03/15/2012 - 13:56 | 2258650 zapdude
zapdude's picture

LOL.  clownfart is my new favorite word.  I love it.

A fitting description for our retarded leaders.

Another zinger from SD1, kudos to you sir!

Thu, 03/15/2012 - 12:11 | 2258167 lolmao500
lolmao500's picture

Well California is in big trouble...

http://www.breitbart.com/Big-Government/2012/03/13/exodus-california-tax...

State Controller John Chaing continues to uphold the California Great Seal Motto of “Eureka”, i.e., 'I have found it'. But what Chaing is finding as Controller is that California’s economy as measured by tax revenues is still tanking. Compared to last year, State tax collections for February shriveled by $1.2 billion or 22%. The deterioration is more than double the shocking $535 million reported decline for last month. The cumulative fiscal year decline is $6.1 billion or down 11% versus this period in 2011.

Thu, 03/15/2012 - 12:17 | 2258203 espirit
espirit's picture

It's tits up for those public pensions.

Meltdown in 3..2..1..

Thu, 03/15/2012 - 12:25 | 2258223 bob_dabolina
bob_dabolina's picture

California sucks and I moved from the state because it sucked that bad.

First of all the taxes are insane. I moved to the Virginia coast last year and love it. People in L.A for example are paying $4.50 a gallon while I filled up for $3.53 yesterday (that's because the gas tax in CA is the highest in the country). Property taxes are lower, sales tax, all taxes are cheaper which means my standard of living has increased nicely. Not to mention the beaches are nicer, Sandbridge is a nicer beach than anywhere I've been in California and a short trip to Nags Head is even nicer.

I also tried to start a business in California, had lawyers set up and the whole 9 yards. It was literally impossible with all the regulations and it was a very simple idea, it didn't require any chemicals other than some windex for cleaning.

There is the ABC rule in the circles of many business owners - Anything But California.

Apple just decided to expand into Texas with a 304 million dollar investment that will create 3,600 jobs. Take a guess at why they chose not to do it in California.

http://news.cnet.com/8301-13506_3-57395246-17/apple-expanding-in-texas-w...$304-million-investment/

Thu, 03/15/2012 - 12:24 | 2258236 CrashisOptimistic
CrashisOptimistic's picture

Look, get it through your head.

No legislature, be it Congress or state level, is going to cut spending.  It's not going to happen.  The Tea Party arrived in overwhelming force in November 2010 and they got $4 Billion, repeat, $4 lousy billion out of trillions in spending cut in FY2012.  And along with that, they extended unemployment benefits and the doc fix (which are both more spending).  The Tea Party arrived after having run on ONE ISSUE AND ONLY ONE ISSUE: CUT SPENDING.  They were an overwhelming force, and they accomplished nothing.

THERE WILL BE NO SPENDING CUT.  

If tax revs are low, and the law or the market won't let you borrow the remainder, then you will postulate arrival of Facebook IPO derived revenue to have moved forward 2 years from when it will happen.  The books will then balance and you can keep sending out checks.  If it looks like they will bounce, you will pass a law preventing banks from declaring insuffieient funds on the checks.

THERE WILL BE NO SPENDING CUT.  THEY WILL SPEND WHETHER THEY HAVE THE CASH OR NOT.  No banks will be allowed to say no.

Thu, 03/15/2012 - 12:28 | 2258272 lolmao500
lolmao500's picture

Totally agree. They think that interest on the debt will stay forever low. They think they can pull an even bigger Japan... They are nuts if they think the laws of economics can be ignored forever.

Thu, 03/15/2012 - 12:35 | 2258317 azzhatter
azzhatter's picture

Today we are all japanese

Thu, 03/15/2012 - 12:44 | 2258362 walküre
walküre's picture

Tomorrow we are all Greeks

Thu, 03/15/2012 - 12:33 | 2258307 Fedaykinx
Fedaykinx's picture

so you're saying that (maybe) a plurality in the majority party in the house was supposed to somehow manhandle the white house and senate?  they have a big influence on what happens in the house which is half of a third of our federal government, and that's about it.  from what i understand they've passed plenty of bills that never saw the light of day in the senate and died on scary prince harry's desk.

Thu, 03/15/2012 - 14:49 | 2258837 Breaker
Breaker's picture

"The Tea Party arrived after having run on ONE ISSUE AND ONLY ONE ISSUE: CUT SPENDING.  They were an overwhelming force, and they accomplished nothing."

Hardly overwhelming. The senate and the presidency are still firmly held by radical progressives who want to increase spending even more than planned. Senate won't pass reductions. Obama would veto anything meaningful. And, the Republican old guard is pretty progressive, itself. They will talk cuts and then make sure nothing meaningful happens.

Anyone who thought 83 freshman tea party congress critters could stop the monster of federal spending was foolish. There are 535 congress critters and Senators and one really bad president. It will take several election cycles that are clear and definative to get spending under control.

Thu, 03/15/2012 - 12:12 | 2258171 xtop23
xtop23's picture

It's almost as if ......

They are making this shit up as they go.

Thu, 03/15/2012 - 12:13 | 2258178 SheepDog-One
SheepDog-One's picture

This clownshow isnt even entertaining at all anymore....BORED!

Thu, 03/15/2012 - 12:24 | 2258240 espirit
espirit's picture

Well, we could make some shit up that the algos could feast on.  After all, they're preprogrammed for the official press releases - so hypothetical presuppositions might provide the hammer to that last nail.

Believe in Bizzarro World.

Thu, 03/15/2012 - 12:27 | 2258262 jus_lite_reading
jus_lite_reading's picture

Where's the McDonalds jingle when you need it?

 

http://theeconomiccollapseblog.com/archives/11-reasons-why-america-would-be-a-better-place-without-goldman-sachs

 

"These marranos go wherever there is money to be made... They are, simply, the biggest scoundrels who have ever dirtied the face of the earth." - Voltaire

Thu, 03/15/2012 - 12:14 | 2258186 RagnarDanneskjold
RagnarDanneskjold's picture

China Daily agrees: the yuan can go down

http://investinginchinesestocks.blogspot.com/2012/03/china-daily-agrees-yuan-can-go-down.html

 

Gotta love this quote: The central bank will use its dollar holdings to support the currency if necessary, he said.

Chinese won't be propping up commodity prices for much longer.

Thu, 03/15/2012 - 12:15 | 2258191 EBR MOD 0
EBR MOD 0's picture

Baaawwwaaaaahhhhaaaaaahhhhhaaaaa, ROFLMAO, what a bunch of Friggin' MORONS

Thu, 03/15/2012 - 12:15 | 2258192 SillySalesmanQu...
SillySalesmanQuestion's picture

Oooooops

Thu, 03/15/2012 - 12:16 | 2258199 vegas
vegas's picture

Chalky Soetero trades crude oil. TD has it spot on - only dropped $2? Screw that, ain't gonna drop gas 1 penny. Besides, you don't do this now, you do it in September or October. Hey Chalky, do you play poker?

 

http://vegasxau.blogspot.com

Thu, 03/15/2012 - 12:16 | 2258201 alien-IQ
alien-IQ's picture

SPR released = Bullish

SPR not released = More Bullish

Global Thermal Nuclear War = Priceless.

Thu, 03/15/2012 - 12:52 | 2258401 lolmao500
lolmao500's picture

Do you want to play a nice game of chess?

Thu, 03/15/2012 - 12:18 | 2258210 Dr. Engali
Dr. Engali's picture

Just a bullshit article get the robots to activate sell orders.

Thu, 03/15/2012 - 12:20 | 2258220 SheepDog-One
SheepDog-One's picture

WTI -$1.50....if thats their big strategic market move for the day, then that looks like a failblog moment to me.

Thu, 03/15/2012 - 12:23 | 2258239 Dr. Engali
Dr. Engali's picture

It's only a test to see the impact. it's my guess that the robots are set to price in the spike for hostilities. So any selloff will be short-lived.

Thu, 03/15/2012 - 12:20 | 2258219 t_kAyk
t_kAyk's picture

'The Onion' has some stiff competition. 

Thu, 03/15/2012 - 12:22 | 2258233 Conrad Murray
Conrad Murray's picture

may just not be worth it for Barry

<3

Thu, 03/15/2012 - 12:24 | 2258243 SheepDog-One
SheepDog-One's picture

Does it look like they released the news, waited for a half hour and saw oil didnt drop hardly at all and reversed the story? Wouldnt surprise me anyway.

Thu, 03/15/2012 - 12:24 | 2258241 alien-IQ
alien-IQ's picture

S&P500 over 1400. Mission accomplished.

Next stop...1500.

Thu, 03/15/2012 - 12:30 | 2258289 Arkaenun
Arkaenun's picture

I wish to coin a new term

ROFL is something everyone is familiar with. I propose ROFC, Rolling On the Floor Crying.

Oh well.

Thu, 03/15/2012 - 14:27 | 2258748 Taint Boil
Taint Boil's picture

 

 

Good try, how bout

ROTMFFLMMFAOOVFL

This is the longest known "lol" acronym. It stands for: Rolling on the Mother Fucking Floor Laughing my Mother Fucking Ass off out Very Fucking Loud. Only use this lol acronym when there is an emergency.

Link

Thu, 03/15/2012 - 12:24 | 2258242 bugs_
bugs_'s picture

its very simple.  don't believe.

Thu, 03/15/2012 - 12:33 | 2258308 Conrad Murray
Conrad Murray's picture

I want to believe. TRUSTNO1

Thu, 03/15/2012 - 12:27 | 2258258 All Rise
All Rise's picture

S&P 500 up over 60 points since last weeks low. Impressive.

Thu, 03/15/2012 - 12:27 | 2258263 Global Hunter
Global Hunter's picture

Do they have a poll or test that can relay to them how much they are despised by their own people?

Thu, 03/15/2012 - 12:29 | 2258275 sabra1
sabra1's picture

hey oBLAHma! hell called, on the way down, bring ice!

Thu, 03/15/2012 - 12:30 | 2258276 Dr. Engali
Dr. Engali's picture

This is right out of Saul Alinsky's playbook. Just overwhelm the system with bullshit. Try to overload the system so it collapses.

Thu, 03/15/2012 - 13:28 | 2258552 viahj
viahj's picture

well, at this point that's the best way to correct the corrupt and broken system we have now.  the real issue is who will put in place the next system and how will it be based.  at this rate, TPTB of this system are lining themselves up to be the masters of the next global ponzi.

Thu, 03/15/2012 - 12:31 | 2258295 the grateful un...
the grateful unemployed's picture

bush allowed his energy sec to release oil without congressional approval. oil which is transferred from SPR to enterprise storage, is still WITHIN the SPR, and although it is publically owned, the private storage counts it as part of their inventory. its just like the money game bernanke uses, in this instance the private storage entity says no thanks i'm full to the saudi tanker, but half his storage is publically owned. hence he can force the price of crude lower which everyone wants. the resulting bottleneck results in widening crack spreads, but who notices? this is why traders pay no attention to inventory reports. and crude is a lot like bernankes funny money, if you could somehow convince everyone that there is plenty of it, then prices would miraculously fall to nothing, without any input from the supply demand equation. unfortunately there is no fiat crude oil, or is there? NG?

Thu, 03/15/2012 - 12:32 | 2258304 Little John
Little John's picture

When the accounts are settled those who have been motivated by greed will be confronted be people who are motivated by anger.  I think anger is gonna win.

Thu, 03/15/2012 - 12:35 | 2258316 q99x2
q99x2's picture

Wouldn't it be better to wait until the war with Iran starts before releasing the oil reserves? Or would that be considered racist?

Thu, 03/15/2012 - 12:47 | 2258379 junkyardjack
junkyardjack's picture

After the war with Iran is over we'll be swimming in oil reserves.  Release them now

Thu, 03/15/2012 - 13:05 | 2258463 Quinvarius
Quinvarius's picture

Sounds like a confirmation to me.  The Obama insiders didn't get a chance to front run it.  They are angry.

Thu, 03/15/2012 - 13:12 | 2258494 JohnFrodo
JohnFrodo's picture

Is the Enterprise going to be a false flag? Why send your oldest ship to a hot spot?

Thu, 03/15/2012 - 13:22 | 2258528 walküre
walküre's picture

Obama coming back from the sea as a zombie pirate!

Disney has the movie rights.

Thu, 03/15/2012 - 13:59 | 2258658 hankwil74
hankwil74's picture

And I'm sure it's just a coincidence that this "news" leaked the day of April options expiration.

Thu, 03/15/2012 - 15:22 | 2258967 Dukepinewood69
Dukepinewood69's picture

how is this even legal???? A political party in power manipulates the price of oil/gas right before the electio w/ hopes to win the election.What is the difference between this and a CEO/CFO giving false info right before a press release so that when the real facts come out the CEO can short/long the stock and make a killing?

 

Thu, 03/15/2012 - 16:16 | 2259204 MarcusLCrassus
MarcusLCrassus's picture

Now we know what Cameron and the B-Rock were talking about during that basketball game they went to.  All of a sudden, the next day, the UK decides to open up their oil reserves. 

 

Nahh, probably just a wild coincidence. 

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