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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (405949)8/12/2008 3:44:44 PM
From: i-node  Read Replies (2) of 1575758
 
You are so terse when you lose.

I don't know about "losing", but I know that on this subject you are definitely wrong. But, like tejek, you would never admit your error, so there is little point in continuing on.

Obviously, you are confused about the rationale behind the very existence of futures markets. The futures markets were never created as speculative ventures, they were created to give sellers the opportunity to hedge against price drops and to get buyers the opportunity to hedge against increases. Just as SW Airlines did, futures are intended to allow business people to have some assurance as the the prices they would pay for (or receive) for commodity items they need for business operations.

This isn't "speculation". "Speculation" is gambling on future price changes, and smart businesses don't do it. The consumers of oil and other commodities don't do it. A very small number of entities get involved in this kind of speculation compared with the number who are merely hedging their future requirements.
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