Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Secret_Agent_Man who wrote (101595)	9/4/2009 4:36:12 AM
From: westpacific	2 Recommendations Read Replies (1) of 116555

SAM - think about this statement in your post... I deduce from this that if there is a problem brewing it has everything to do with their Oil Derivatives business. Here’s a brief overview of what might happen should these companies, and others, default. The banks, namely Goldman Sachs, J.P. Morgan and from other accounts possibly Deutsche Bank will find themselves LONG on oil futures with no customers on the short side of the derivatives. This will most likely lead the banks to sell the excess oil futures without a care for the price. This is no different than what happened when Bear Stearns was forced to sell off their gold futures in March of 2008 which then resulted in a sharp downturn in the price of Gold. --- Then ask why did this week DB; the above bank close down its DXO product? THIS WEEK; it is an oil derivative product!!!! Gonna get real hot next week. West

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