So, is the Fed buying oil futures tonight?greenspun.com : LUSENET : TB2K spinoff uncensored : One Thread
Would the government ever in a situation like today intervean in the markets to protect us sheep? If I was long, I would consider it a God send. So that would make the government the good guys. And not an evil bunch of conspiritors. The majority of the sheep are in their loving hands. Unless your a gold bug.
-- ROB MERDOCH (MRLOVE99@HOTMAIL.COM), March 07, 2000
I don't think the federal government has the resources, ability, or desire to buy futures in commodities market. Doing so and being caught (always the issue, I suppose) would destroy trader's faith in the markets.
What feds can do is two things:
1. Use the oil in SPR as a club, although not a very credible club due the time it would take to get the oil out and refined.
2. Use our major weapons - foreign aid, military sales, and our protection as a real club. You know, keep it up and the next time somebody want your little piece of sand....
-- Jim Cooke (JJCooke@yahoo.com), March 08, 2000.