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Once Again, Democrats Engage In Conspiracy Theories

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March 06, 2012 – Comments (31)

I love the conspiracy theory debates. When a blogger sticks out their neck and says maybe, just maybe, something ain't right here, you can always count on some arrogant clown to show up and cluck, "tinfoil hat, much?" which I usually imagine them saying with a New Jersey accent and a sick desperate laughter.

Fellow Fools, you know who I am talking about. Check out any post here on GATA or WTC or AGW. Heck it even extends to medical and nutritional topics. The clucker is usually a Left leaning Nationalist, as well.  Almost always, the clucker is a Keynesian.  Now that should crack you up, since the greatest conspiracy theory I've ever heard is that evil animal spririts get extra super animal-y and that's what causes capitalism to fail.

And while the Anti-Gay and Anti-Islamic League of West Israel, er.. the Republicans, also have their share of hyperventilating conspiracy theories (e.g., somehow the Iranians will install Sharia Law all over the globe if they get a single nuke), the Democrats really take the cake for beating the drum for the same conspiracy theory ever year for 40 years.

I'm talking of course about gas prices rising because of greedy speculators!  They're at it again.  Put your tin foil hat on, my left leaning friends (if I have any remaining, hehe). It's time to conjure up the spooky specter of greedy speculators as Congressional Democrats continue their 40 year search (at least!) to identify that oh so mysterious masked man driving up gas prices!

http://thehill.com/blogs/e2-wire/e2-wire/214041-dems-amid-gas-price-rise-press-cftc-on-speculation-curbs

Here's what I say, and I say this to all my clucker friends, so eager to disprove the conspiracies that I personally enjoy (without ever having an incling to prove).... it's time for you to put your tin foil hat on and help us find the second speculator behind the grassy knoll.

Because we know that when prices rise, it's never ever ever because the monopoly mint is making new money. That can't be the cause.  Never mind, occam's razor. It's an exogenous shock (that keeps shocking us 40 years in a row!)  It's a greedy speculator who lurks quietly while prices are low, just to lull us all into his confidence before he jumps up and ruins your daily commute!  That rat bastard!

Ok folks, enough bashing of my goofy Keynesian friends that pretend to do economics. I'm spent.

David in Liberty

31 Comments – Post Your Own

#1) On March 06, 2012 at 7:04 PM, OneLegged (< 20) wrote:

Being a left-leaner (a car meets bicycle accident in 1999 left me with left leg 5/8" shorter than the right leg) by default I will take your bait.  Despite being a left leaner I know that speculators have very little to nothing to do with the price of gasolina.  I know that the real culprit is Helicopter Ben and the reckless printing of our reckless currency.

 As long a we on are on the subject of tin foil headware,let me inform you that I never run out of these shiny dome covers.  I buy industrial rolls of the stuff at the local warehouse store (economy stimulus) and fold my own.  I have become  skilled enough at this in the past several years to be easily capable of folding one with one hand while drinking a 16oz. PBR Missle with the other all the while doing a cool 8-oh in the express lane and steering with my right knee.  So don't accuse me of running out of tin foil hats or of leaning to the left for that matter.

 

With the Utmost Respect,

 VH

 

 

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#2) On March 06, 2012 at 7:58 PM, Frankydontfailme (27.20) wrote:

EVIL SPECULATORS 

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/01/nanpelosi.jpg

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#3) On March 06, 2012 at 8:55 PM, smartmuffin (< 20) wrote:

The question I always ask people who make the speculators argument:  What about when gas prices fall?  Is that an example of oil companies not being greedy?  Or does that only happen when the speculators go on vacation in their yachts they bought by cheating innocent Americans out of their money?

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#4) On March 06, 2012 at 11:58 PM, L0RDZ (84.26) wrote:

Anyone remember Jimmy Carter ??  how did that work out ??

long lines and no gas...

Whats messed up Is Barrack and his idiotski is making  JImmy look so much better when you compare these two fools.

At least Jimmy did something with his life after public office fiasco.

Anyone remember 16% interest rates ?

The evil empire of the U.S.S.R ????

Isn't it strange  how a barrel of oil  can cost  so much  and than only moments later  it  can cost  something else ? 

Ask yourselves why are we constraining the supply of gasoline ? and than being shocked at the consequences.

Wouldn't it be nice if we could just build the necessary infrastructure so we could use west texas crude and our other awesome light sweet crude as opposed to all the imported oil, wouldn't it be nice if we could actually  build  a  new state of the art refinery  as opposed to the bs we currently have.

Or say we actually get smart and build  natural gas refueling stations and give people the ability to use much cheaper natural gas to fuel vehicles.

Instead we are force feed toxic battery electric super expensive junk vehicles.

 

 

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#5) On March 06, 2012 at 11:58 PM, L0RDZ (84.26) wrote:

Anyone remember Jimmy Carter ??  how did that work out ??

long lines and no gas...

Whats messed up Is Barrack and his idiotski is making  JImmy look so much better when you compare these two fools.

At least Jimmy did something with his life after public office fiasco.

Anyone remember 16% interest rates ?

The evil empire of the U.S.S.R ????

Isn't it strange  how a barrel of oil  can cost  so much  and than only moments later  it  can cost  something else ? 

Ask yourselves why are we constraining the supply of gasoline ? and than being shocked at the consequences.

Wouldn't it be nice if we could just build the necessary infrastructure so we could use west texas crude and our other awesome light sweet crude as opposed to all the imported oil, wouldn't it be nice if we could actually  build  a  new state of the art refinery  as opposed to the bs we currently have.

Or say we actually get smart and build  natural gas refueling stations and give people the ability to use much cheaper natural gas to fuel vehicles.

Instead we are force feed toxic battery electric super expensive junk vehicles.

 

 

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#6) On March 07, 2012 at 12:29 AM, whereaminow (42.76) wrote:

Pretend Left or Pretend Right, this is one of those things that occurs every year and it just reminds me that the people who rule over us are just complete total idiots that I wouldn't trust to properly wipe their backsides.

And I say Pretend Left and Right because the people in power don't give a rat's arse about the supposed ideologies they support.

David in Liberty

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#7) On March 07, 2012 at 1:35 AM, FleaBagger (29.37) wrote:

If they're idiots, how come they're rich and powerful, and you're paying for their vacations?

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#8) On March 07, 2012 at 1:57 AM, whereaminow (42.76) wrote:

Flea,

You know me on a personal level, so you know that I spent several years earning tax free money paid ultimately by hard working Americans.

I traveled the world on their dime. Did that make me any less of an idiot?

David in Liberty

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#9) On March 07, 2012 at 2:03 AM, awallejr (82.72) wrote:

If they're idiots, how come they're rich and powerful, and you're paying for their vacations?

 

qft

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#10) On March 07, 2012 at 2:31 AM, whereaminow (42.76) wrote:

awellejr.

Well if you want to chime in, my tin foil hat wearing friend, answer my reply.

Was I smarter than you, or any less of an idiot, because you paid my salary while I worked overseas and vacationed all over the world?

David in Liberty

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#11) On March 07, 2012 at 2:37 AM, whereaminow (42.76) wrote:

I'm not surprised that awellejr equates power with intelligence, as if we can judge a man's brains by how effectively he plunders his neighbors.  Never mind that history's most brilliant innovators who carried us forward (kicking and screaming) were usually peaceful and responsible people that engaged in voluntary cooperation. I don't think Steve Jobs is an idiot because he paid taxes to Congressmen that took junkets around the globe.  I think he's  brilliant for delivering a voluntary service and fighting the corrupt State in his own way.

But I'm surprised if Flea feels the same as awellejr. I may be reading into his comment wrong. I hope he elaborates.

David in Liberty

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#12) On March 07, 2012 at 2:50 AM, whereaminow (42.76) wrote:

To take this a step further, is Mugabe smarter than awellejr? After all, since he quoted flea's statement for "truth", by awellejr's own reasoning, if Mugabe is smarter and more wealthy than him (which he most certainly is), isn't awellejr a bigger idiot than Mugabe?

Thankfully, I don't think that's the case. I think those who desire to rule over others are more vicious than us, but not any smarter.  In that game, the smart one is the person who doesn't play.

David in Liberty

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#13) On March 07, 2012 at 2:52 AM, whereaminow (42.76) wrote:

if Mugabe is smarter and more wealthy than him

Should read:

if Mugabe is more powerful and more wealthy than him

I suck at editing.

David in Liberty

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#14) On March 07, 2012 at 3:45 AM, ibuildthings (< 20) wrote:

A real problem is that the major policical parties are OK with the depective practices used by all parties to win elections.  Its OK to lie, or tell half-truths at the top of your lungs to win.  If you can lie about your opponent and get your friends in talk radio (on the right) or the mainstream news networks (on the left), then you can put the opponent on the defensive, and steal a few polling points.  Then they can do the same to you.

What are we losing?  

When Fool members argue about investing in CompanyX, we use real fact and real analysis, to try to arrive at reasoned conclusions.  If some idiot shrieks at an analyst with a personal attack, more than once, fool members ignore him or tell him to get out.  What this means is, REAL WORK GETS DONE HERE.  We make progress and educate ourselves and each other.  And we make money, together.

 Would you be comfortable investing based on the kinds of argumentation regularly used by the political class?   Would you ride on an airplane designed by these people?  Why do you settle for an economy and mutual defense policy designed with logic that wouldn't sway any Fool who has been here more than a day?

Food for thought.

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#15) On March 07, 2012 at 8:11 AM, TMFAleph1 (95.98) wrote:

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#16) On March 07, 2012 at 8:16 AM, TMFAleph1 (95.98) wrote:

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#17) On March 07, 2012 at 9:18 AM, whereaminow (42.76) wrote:

Hi Alex Dumortier,

Has your tinfoil hat helped you find that greedy gold speculator that is keeping its price.. what is it, about $800 north of what you thought it should be 3 years ago?

He's out there buddy.  He might just be the same guy driving up gas prices :)

David in Liberty

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#18) On March 07, 2012 at 9:19 AM, whereaminow (42.76) wrote:

Hi Alex Dumortier,

Has your tinfoil hat helped you find that greedy gold speculator that is keeping its price.. what is it, about $800 north of what you thought it should be 3 years ago?

He's out there buddy.  He might just be the same guy driving up gas prices :)

David in Liberty

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#19) On March 07, 2012 at 10:59 AM, outoffocus (23.59) wrote:

Fellow Fools, you know who I am talking about. Check out any post here on GATA or WTC or AGW.

Am I the only one who picked up on this? Are you saying that the info about gold manipulation is mere wild conspiracy theories?

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#20) On March 07, 2012 at 11:05 AM, whereaminow (42.76) wrote:

outoffocus,

The term conspiracy theory is a deragotary smear used by Establishment apologists to discourage independent thought. 

As for GATA, I like their work. Some of it is compelling and some of it is not.  I don't particularly worry about manipulation in the precious metals markets. It's obviously not working anyway, and even if it is suppressing prices, super. It's just more buying opportunities for me. 

In this post, I'm simply noting the irony that my detractors support theories that are just as conspiratorial, if not more so, than anything our crowd throws out there.

David in Liberty

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#21) On March 07, 2012 at 3:30 PM, awallejr (82.72) wrote:

Well if you want to chime in, my tin foil hat wearing friend, answer my reply

No need for a tinfoil hat.  Remember in 2008 when we had oil at $147 and then it crashed to around $30 in a matter of months?  That $147 had nothing to do with supply and demand.  And that $30 had more to do with everyone selling off everything to deleverage.

You can't be serious if you don't think there isn't any speculative play now reflecting the Iran situation. I would prognosticate a good $15 premium is being added.

Lordz actually hit a good point which is the closing of refineries in the US.  We are overflowing with nat gas to a point companies are ceasing to drill because of the oversupply keeping prices way low.  You can see that happening with oil in the Bakken, but then there is that lack of refineries here.  Need to ship it to India to get it refined and sent back.

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#22) On March 07, 2012 at 5:32 PM, whereaminow (42.76) wrote:

awallejr,

Speculation does not move prices, it makes the move occur more efficiently. 

A devalued dollar makes imports more expensive. This is why Lordz's point was valid.  When you have to import more oil, it hurts to have a weaker currency.

You can't ignore the supply and demand for the currency unit used to make purchases. Does the market overreact on the high and low sides of pricing? Absolutely.  But the volatility is in the currency unit as well, not just in the good being priced.  That inherent volatility of the FRN causes high and low side swings to be more pronounced. As you noted, everyone must shed assets when the bubbles burst.

So who is ultimately at fault here?  Speculators make markets more efficient. They move us where markets are going anyway, and they get us there faster.  

The conspiracy theory is not that speculators exist. Of course they exist. The conspiracy theory is that they are the primary reason for high oil prices and some kind of capitalist evil, an expression of wall street greed run amok.  That's just stupid-stitious hocus pocus.

Speaking of greedy animal spirits, it looks like wall street has no monopoly on it:

http://foxnewsinsider.com/2012/03/07/million-dollar-lotto-winner-continues-to-collect-200-in-food-stamp-money-napolitano-says-shes-committing-fraud-by-silence/

David in Liberty

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#23) On March 07, 2012 at 6:50 PM, ETFsRule (99.94) wrote:

"In this post, I'm simply noting the irony that my detractors support theories that are just as conspiratorial, if not more so, than anything our crowd throws out there."

Like who? Did Bernie Sanders come on here and criticize you?

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#24) On March 07, 2012 at 7:23 PM, awallejr (82.72) wrote:

Sure the value of the dollar impacts prices since oil trades in it, but sorry Dave you will never convince me that $147 oil in 2008 was a function of anything else than massive speculation.  You aren't seeing it as much this year so far, but there surely is an "Iran" premium in the price. 

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#25) On March 07, 2012 at 9:29 PM, whereaminow (42.76) wrote:

awallejr,

Dave you will never convince me that $147 oil in 2008 was a function of anything else than massive speculation

Very well, then. Just know that you sound like a creationist right now.

ETFsRule,

Did you get a chance to check out my Friedman piece? 

David in Liberty

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#26) On March 07, 2012 at 10:05 PM, ETFsRule (99.94) wrote:

"Did you get a chance to check out my Friedman piece? "

Yeah, I noticed it about 2 weeks after it was posted, I just didn't think it would be worthwhile to get in the same back and forth for the 100th time. I think Friedman's disagreements were deeper than you portrayed them (he called Austrian Theory "incorrect"), and I don't think the blog really answered the question that I was looking at earlier. You posted a couple links that had "correlations" to support ABCT, but they were a throw-in and you didn't really discuss them at all. Let's face it, you're into the praxeology thing, my approach is completely different, and they can't be reconciled.

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#27) On March 08, 2012 at 1:06 AM, awallejr (82.72) wrote:

Very well, then. Just know that you sound like a creationist right now.

Not sure if that was applicable to this given scenario, but to be sincere I won't deny the "charge."

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#28) On March 08, 2012 at 2:20 PM, whereaminow (42.76) wrote:

ETFs,

Well thanks for giving it a read. At least we see where our differences lie.

David in Liberty 

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#29) On March 08, 2012 at 9:55 PM, FleaBagger (29.37) wrote:

I didn't mean to offend you. I was probably having a bad day when I wrote that. Anyway, I was probably thinking of Robert Murphy's admonition not to chalk up politicians' actions to irrationality or idiocy. If they were idiots, they might be honest. The unanimity of their evil suggests adequate intellect to consistently act in their own best interests, as well as skill in deceit. If they were idiots, we could probably outwit them, outflank them, strip them of power somehow. They're not idiots. They're powerful, duplicitous, and so good at lying that they pretend to be idiots striving for the public good in such a way that many think they are advancing the public good, and most who don't think they are idiots.

It's like public school propaganda. Not only does it convince many that Democrats are good, but through the subtlest, nastiest trickery, they manage to convince almost everyone that if you disagree with them, you must be a Republican and toe that party line. I think whoever started this whole thing probably was just as happy to see the schools churn out good little Republicans, convinced that they had brilliantly resisted "the system" and become independent thinkers, because they were Republicans instead of Democrats. ABC, CBS, MSNBC and CNN are the same way. at first it seems like a simplistic way to stuff Democrat propaganda down your throat, but then you realize that somehow they convince everyone who disagrees with them that they must be Republicans. It's brilliant evil.

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#30) On March 09, 2012 at 12:55 PM, whereaminow (42.76) wrote:

Wade,

I think my use of the term idiot is the problem here, and not necessarily our source of disagreement.  I agree with you that they are brilliant in their little circle of expertise.  If someone says, "i want to rule the world" and then they acquire that power, well there's no other way to slice it. They were brilliant (and the rest of us were complacent).  

But that's not what I am talking about here. I think the very idea of wanting to rule over others, to seek power, to want to "change the world" through the use of the State, is idiotic.  To me, it really doesn't matter how smart you are at getting things done, so to speak governmentally.  In my eyes, you'll always be a moron, because you don't see the bigger picture.  To have a lasting positive impact on the world, you have to serve your fellow man in voluntary cooperation.  Nothing else works.

I suppose that's rather arrogant. So perhaps I should say that is only the case for those who have the knowledge of true source of their power (violence) and still choose to wield it.  I think that's a pretty large majority, though I don't have any evidence to back that up.

So at the mildest form of critique, they could be considered hopelessly ignorant of the realities of power vs. voluntary cooperation in the realm of human affairs.  At the worst, they'd be complete fools.

David in Liberty

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#31) On March 09, 2012 at 8:27 PM, FleaBagger (29.37) wrote:

For all I know, Maxine Waters is a sincere idiot. I'm 99% sure Rep. Hank Johnson is sincerely an idiot.

At least, I can't figure out how the whole "Guam will capsize" thing is accretive to his power. But I think the overwhelmig majority of elected politicians are very shrewd in how they go about things, very sanguine in their lust for power, and very deceitful when they talk about things like the greater good.

We already covered this on facebook, I just wanted an excuse to share the Guam video again. 

(:

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