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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: axial who wrote (98665)6/17/2009 3:36:14 PM
From: ggamer  Read Replies (1) of 116555
 
"He says traders are taking positions, holding oil in tankers offshore and waiting for the price to spike, which becomes a "self-fulfilling prophesy" based on paper demand, not real consumption. "Demand is rising artificially because a big chunk of it goes to storage," he says. "Somebody is holding the oil and releasing it at higher prices--the same gimmick, the same game that we have gone through before."

This is the new version of pirates. Perhaps Obama needs a oil tanker control czar.
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