PEPPERJAX
Let's Do A Ritual....
- Joined
- Jul 17, 2013
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If you crash the economy and people commit suicide because of financial difficulties, you're not the cause of their death, right?So if you have heart disease, and I scare and chase you to intentionally induce a deadly heart attack, I'm not the cause of your death, right?
More people might understand this in terms of ticket scalpers.I received a message from my financial guy last night regarding this subject. I won’t share it all but here i paraphrase the key points:
0 - the media sells fake news. They have a lack of understanding of the markets and are using hyperbole to scare viewers. It’s shameful.
1 - oil is traded on futures markets
2 - traders buy contracts on a quantity of oil to be delivered at a specific place and on a specific date
3 - between the time they buy the contract and the delivery date, they have the option to sell the contact. If they don’t sell it then they must pay for and take delivery of the oil
4 - many traders never intend to take the oil. Most have no way to take it. Their goal is to sell the contract at a higher price before delivery.
5 - May 2020 contracts expired today so traders were trying to unload their contracts. They got burned by the falling price and they cannot take delivery of the oil. If they don’t fulfill their end of the contract they can be barred from future trading. So they wanted to unload them at any price.
6 - the market is not collapsing. Here are the price of futures:
May 2020 -13.10
Jun 2020 21.22
Jul 2020 26.97
Aug 2020 28.85
Sep 2020 30.01
Oct 2020 31.77
Nov 2020 32.51
7 - yesterday was a bizarre anomaly where some traders got caught with heavy bags
Just posting this to pass along the info and knowledge.
So if you have heart disease, and I scare and chase you to intentionally induce a deadly heart attack, I'm not the cause of your death, right?
Didn't see that one. Saw the report from the Boston area over the weekend.Yep..... did you see the antibody report from California yesterday where they stated that way more people had covid than they thought and the fatality rate would probably end up being the same or less than the flu.
So if you have heart disease, and I scare and chase you to intentionally induce a deadly heart attack, I'm not the cause of your death, right?
I just heard on News Talk radio in Knoxville say for every 1% of unemployment 30 to 40,000 die.If you crash the economy and people commit suicide because of financial difficulties, you're not the cause of their death, right?
Do you realize how ridiculous thsi sounds?
More people might understand this in terms of ticket scalpers.
They go in and buy all the best concerts up front, then resale at a higher price to those of us who cant' get the original batch.
Now they are left holding the bag for canceled concerts because they circumvented the rules and can't get refunds for all the tickets they purchased.