Closing the "London Loophole"
source: http://www.ft.com/cms/s/0/b962d938-3716-11dd-bc1c-0000779fd2ac.html?nclick_check=1
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- patsarts
- added this
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- groups:
- News and Politics
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- tags:
- News and Politics, Democrats, Republicans, Gas Prices, 3 more
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Mark701
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Let them buy and sell all they want. However,all commodities speculators (not just oil speculators) should be required to take delivery of every purchase they make before being allowed to resell it. That would significantly slow price increases as traders would have to wait for the oil to be delievered, shell out $$$ for storage and take the risk that what they bought would lose value before they could resell it. As it stands now they can buy 10,000 barrels of oil in one second and literally resell it the next if the price goes up or down. The risk of significant loss is minimal due to the speed of the trades and the fact that they don't have to take physical owership of what they buy. This is great for them because they can make huge profits but bad for the rest of us who pay exhorbitant prices for gas due to their actions.
- 4 years ago
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Mark701
