Non-Farm Friday – One Billion Barrels of Oil in FAKE NYMEX Contracts

One Billion Barrels of oil on the wall.

One Billion Barrels of oil – fulfill one contract for 1,000 barrels… 999,999,000 barrels of oil on the wall!  999,999,000 barrels of oil on the wall…  Well, you get the idea.  One BILLION is a lot of oil to have put out orders for – especially for a country that imports only 7M barrels a day.  That would be a 142-day supply of oil if it were delivered.  It would be even stranger if that oil were actually delivered to Cushing, Oklahoma, a facility that can only handle about 50M barrels of oil PER MONTH and just so happens to be full at the moment – so maybe 20M max.  

The rest of the contracts, the other 940,000,000 are fake, Fake, FAKE orders that will all be either cancelled or rolled over to another month (causing more fake demand) by expiration day on the 20th, just 10 trading days from today.  This is how the criminal US Energy Cartel keeps the price of oil up – even when there is no actual demand.  It happens all the time, we point it out all the time – yet there are never any investigations as to why there are orders for 480M barrels of oil to be delivered to Cushing, OK, in November when it's not even remotely possible for 90% of those barrels to be delivered.  

Image result for nymex manipulationAll these trading costs are passed down to you, the consumer.  You pay them at the pump every time you fill up as the price of gasoline is set by the oil and gas trading that goes on at the NYMEX.  “We get multiple complaints about spoofing every week,” said Aitan Goelman, director of enforcement for the U.S. Commodity Futures Trading Commission, CME’s main regulator. “It’s not a vanishingly small or infrequent practice.”  

The CFTC said in a 2014 report that 10 spoofing probes had been initiated from July 2012 to July 2013 at Nymex and Comex, two of the derivatives markets owned by CME Group Inc.  The regulator recommended the exchanges “continue to develop strategies” to detect the banned behavior. Clearly it's not working (if they did anything at all).  The problem is, if the CME ever…
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