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Politics : View from the Center and Left

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To: TimF who wrote (85139)	9/17/2008 8:59:11 PM
From: Cogito	Read Replies (2) of 541957

>>The key point is that the type of commodity traders that are most purely speculators where cutting their long positions or even going short as the price of oil was rising. Kind of hard for them to be the cause of the increase in that case.<< Tim - We've already seen authoritative articles about trading on the ICE, and how speculators were indeed the main cause of that price spike, as just a couple of firms held a large percentage of the contracts. The links were posted while you were away, apparently. But I can tell you that they flatly contradict that WSJ article. I'm not sure if the CTFC study included transactions on the completely opaque ICE. I don't see how it could have. - Allen

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