Oil brokerage PVM names rogue trader behind oil spike – Yahoo! News
Oil brokerage PVM names rogue trader behind oil spike – Yahoo! News.
This is exactly the kind of BullS*@! I have been talking about. Oil should be watched more closely so the speculation of oil is somewhat controlled. This irrational behavior of the oil brokering and trading industry makes me want to punch something. We cannot leave the entire economy exposed to idiots who decide, for no logical reasons, that oil should be trading at $140 a barrel or $90 a barrel or whatever. It is complete BS.
The trader in this article was allowed to make trades and moved the entire worlds crude oil prices about $7 a barrel. What?!
The impact that has on everyone is ridiculous. We’re essentially allowing Las Vegas to control our economy. Wall street is the original, old, and new Las Vegas. Nothing more. Nothing less. These guys are professional gamblers who gamble the health of our economy everyday. For once and for all, they need to be stopped. Free market economy aside, we cannot allow short-term focused, money hunger Wall Street traders to dictate the short term and long term future of our economy. Most of these guys have no people skills and wouldn’t know how to run a business if it slapped them in the face. Yet, they are allowed run roughshod and create the kind of problems we are facing now.
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