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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: jtech who wrote (32073)	6/27/2000 4:24:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Dear Jtech.. Some of my posts here have a lot to do with the news I find interesting and less with trading, Zaki Yemani's interview was intriguingly interesting I thought sharing with friends would be great, now I don't know how I gave the impression that a trade can be made out of his interview who is a retired out of favor oil minister and not to expected back in even if Abdullah takes over. The other reason now let me tell you was that a night before I had a quite dinner with some of the important decision makers from my part of the world in a nice Italian restaurent in Knightsbridge very near to Yemani's place, my whole point was that OPEC will suffer ultimately as new finds and new nature of the global economy would lead to a big fall in the oil prices in near future, I was asked and I told them that I foresee a day that commodity may loose its shine and lustre, the decision we reached was that like Abu Dhabi and Dubai these guys in gulf need to diversify their economies, now as you must have read I have been a great propenent of 'death of commodities' and era of knowledge. In my opinion when I wrote last week about Naimi's thinking that speculators are responsible for the oil hike I thought that like stocks oil can hit even 48$'s in short term if refiners show to much of eagerness to build up inventories, the global commodity exchanges like currency are known for 'short squeeze' and me know it well, as I always say never stand in front of a moving train. Like 1 trillion $ that is sometime traded on currency exchanges, the amount of exchange trades has nothing to do with the physical requirements of global trade in similar fashion if oil is traded by speculators we can see a lot more vloatility. I understand that well enough. Can't agree with you more on that. For me to understand these things and write them on this thread has more to do with educating myself and revisiting them.This has very little to do with trading, I don't have an appetite to 'short oil' and I assure you that should not be your worry. Ike is in safe hands of Ike. It does happen that some people like this kind of stuff that allows them to think of the medium term big picture as it evolves, if you had known me for long may be you would not read me the way you did. When you know about the big picture when things start following a certain pattern you know it that it dejavuish revisit of something you had read, afterall this is the ultimate purpose of our existance to keep questioning and keep our quest of knowledge alive. I see from number of messages that you were really upset with me not responding, during thick of trading I rarely stay on my post, I had made my levels known and was out, only when I get up in the morning I was able to see your four posts. Thanks and please accept my apologies for posting the two articles the one from the Economist I errorneously thought will help us understand the intellectual basis of the argument what Yemani is trying to say not desperation. The two in tandem were enjoyed by my children who thought that they never knew before Yemanis article that oil reserves are on the up not down, if you look at several green type people and read club of Room 70's report under Brandt if I am right, they thought the world reserves would near depletion so for me a student of contemporary history even that aspect was very interesting alongwith the fact that may be riches may just stay underground. I was just thinking what should Saudi's or Kuwaitis do to avoid a fate of poverty, once King Faisal said we were on camels may be we need to go back on camels but for me from human point of view that tranformation down brings a lot of bloodshed, a lot of societies that enter into that phase of fragmentation and lesser economic prosperity go through extreme violence too, for me coming from a country that is on the fringe of these kind of upheavels events watching, like bird watching is important. Unfortunately the purpose was anything but about trading on short term. The way I approach trading my trade would be long short term not short I am a contrarian..thanks and next time if it is right that you respect me please can only write me once and I will sure respond..Love and best regards and apologies once again for hurting your feelings.