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Tom stop trying to obscure the issue. Those commodity contracts are actually contracts to supply

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They are still derivitives. It works the same in all the commodities markets. You don't have to own gold to bet that gold prices will fall.

Sorry ,hedge betting is the best means of keeping markets honest . Where the government can be useful is in enforcing accounting practices, and honest price disclosures .

In 2008 the government banned short selling to prop up bank stocks . What happened ? They fell anyway and investors fled the market. It led to more volitility not less. But that is your typical govt at work .It isn’t “speculation” that is the problem, it is the government destroying economic value that is the problem.

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Originally Posted by excon

Hello again:

My right wing friends tell us that, if left to their own devices, INDIVIDUALS would NOT act in their own self interest. So, they enact lots and lots of laws governing PERSONAL behavior, and hire lots and lots of cops to ENFORCE them... That's how come we're the worlds largest jailer...

But, when it comes to corporations, their faith in individuals is renewed. They say that corporations don't need no stinkin regulations, because it's in their self interest NOT to screw people...

Am I missing something here?? Am I the only one??? Aren't individuals running corporations???

excon

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No .I'm missing something because I don't know how what I wrote leads you to believe that I don't think there should be no(stinkin) regulations. That would be a libertarian position... no ? Actually the problem is there are too many stinkin regulations and not enough useful ones.
When did regulation for regulation sake become your mantra ? You are more than ready to make the claim that certain regulations you oppose are overregulation that screws up the country but are unwilling to admit that overregulation of the market doesn't have a similar result.

Business and banks got carried away with their own greedy plans of making easy money, AFTER all the rules were either wiped out, or relaxed. Legal stealing, that destroyed capitalism, and the WORLD economy.

To not think that rich people don't need rules, is crazy, and if its okay for me to get a contract for a cell phone, or credit card, or mortgage, that's all legalese, and filled with loopholes and disclaimers of responsibility, then they can darn well give 2000 pages of rules for their high priced legal department to figure out. If they can take old lawmakers and make 'em rich to lobby congress for changes in the law that makes them more money, then they can afford to clean up their own mess, that they caused.

Even if nobody goes to jail, I can get my money back, and they can shoulder there own losses, and not be given even more of my loot to get fatter on. They made this bubble that burst all over everybody's life, (not the first time I might add) then let 'em pay the costs to be the boss.

Its in their interests to make money, HONESTLY, and not steal it out of greed, and its governments job to see that they do just that. Make money honestly. So if they need new rules, or bring back some old ones, DO IT! You know it seems that a lot of this is just good old fashion common sense, even if the products, and services are complicated.

Capitalism doesn't work unless the money is circulated sufficiently. There is no place for greedy self interests, which is a fancy name for stealing!

If I have to live by rules, why can't the banks, and corporations do the same thing, being as they are people too! That's what the judge said!!