Friday – NYMEX Terrorists Stop Delivery of 144M Barrels of Oil to US!
by phil - June 20th, 2014 8:16 am
Help, we're being attacked!
Not by foreign terrorists, but by the market manipulators who trade at the NYMEX and FAKE Billions of barrels of orders each month in order to drive the price of petroleum higher for US Consumers. Not only do the FAKE demand during the month, but they also then CANCEL the FAKE orders in order to create ARTIFICIAL supply shortages – just ahead of the summer driving season.
This is Financial Terrorism of the highest order yet our Government sends no troops out to the trading floor and orders no drone strikes on the ivory towers where the Banksters mastermind these attacks on the US economy every month, costing American Citizens hundred for Billions of Dollars every year in excess energy costs.
Last Friday, I told you that the 172,551 open contracts that guaranteed delivery of 172,551,000 barrels of crude to the US in July were FAKE and that all but 20,000 of them would be canceled by today. This morning, there are only 28,550 open contracts remaining. That means that 144 MILLION barrels of oil that were scheduled for delivery to supply the US in July have been CANCELED, in order to create an artificial shortage of 36M barrels per week next month.
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Monday Mayhem – Iraq Kicks it up a Notch
by phil - June 16th, 2014 8:28 am
“A well-regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arms shall not be infringed.”
Iraqi citizens are taking it to the streets to stop the Sunni Militant advance that has now moved on to
Saadiya, a "city" of 20,000 people which leads the US media morons to conclude that they are just about to take Baghdad, a city of 5,672,513. The MSM plays on American's complete lack of geographical knowledge and poor math skills to excuse the profiteering by their sponsors (Banksters and Energy Companies) that has driven the price of oil in America up 7% this month – even though oil wasn't this high during most of the actual war in Iraq.
Anyone who actually knows anything about war knows that the ISIL doesn't have the men, equipment or supply lines to hold what they have now, let alone march on Baghdad, let alone move another 200 miles south towards the nation's oil fields – but that doesn't fit the story the media is spinning, so it doesn't get any play.
As noted by the New York Times (and pretty much no other paper) the goal of the ISIL is to provoke a civil war in Iraq and many of their clams of captured cities and Shi'ite executions are nothing but propaganda meant to incite riots. As I said last week, if you follow the money, it trickles down from the $2Bn monthly windfall this unrest is giving NYMEX traders, not to mention the 90M barrels of Global oil sold each day for +$7 ($19Bn per month), 2M of which (+$420M per month) comes from Iraq itself.
Despite all the unrest, our $107.50 oil short from Friday's post is still going strong at $107 this morning (up $500 per contract) and we're still shorting at the $107 line (those of us not so crazy as to leave shorts on over the weekend) as we're hoping to see some capitulation on the 154,000 contract that remain open (1,000 barrels per contract) on the NYMEX between now and Friday's…