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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:08:05 PM   
willbeurdaddy


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quote:

ORIGINAL: EternalHoH

quote:

ORIGINAL: Sanity

There are no "casinos" markets, thats wild-eyed leftist propaganda




Read the CFMA yourself from the SEC website.

http://www.sec.gov/about/laws/cfma.pdf

read the very last paragraph, which makes derivatives EXEMPT from state gambling laws.

SEC. 408. (7 U.S.C. 27) CONTRACT ENFORCEMENT.   (c) PREEMPTION.


If the casino economy is all leftist propaganda, then why did congress feel the need to exempt derivatives-trading behavior which they thought could be prosecutable under existing state gambling laws?

Does the Idaho intelligentsia have an answer?





LMAO. ALL options and futures contracts have laws ensuring Federal preemption over State laws, including gambling laws, not just derivatives/swaps.

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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:11:45 PM   
Edwynn


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quote:

ORIGINAL: willbeurdaddy







As much as you think the world revolves around you, I wasnt addressing your two different cars, I quite clearly said identical cars.



You weren't addressing my two different cars, only quoting that reference directly in your response.

Got it.

But to go with your spin in any event, the larger engine in Germany getting better mileage than the smaller engine in the US, that difference being 4 MPG already, would indicate to most capable minds that were the engines to be of same displacement, the difference in mileage would be even greater.




< Message edited by Edwynn -- 8/20/2011 12:15:03 PM >

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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:19:16 PM   
EternalHoH


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quote:

ORIGINAL: willbeurdaddy

LMAO. ALL options and futures contracts have laws ensuring Federal preemption over State laws, including gambling laws, not just derivatives/swaps.



But there is 'beneficial use' of swaps and futures (closely tied to production of goods), and 'detrimental use' (pure gambling for gambling gain). The latter had been kept in check by state gambling and bucket shop laws.

The CFMA took the leash off it all, even the detrimental stuff.  And in 10 short years, the detrimental side has created our Financial WMDs . All those credit default swaps backing mortgage securities made of junk, that was only a fraction of the detrimental side blowing up back in the financial crisis of 2008.

But thanks for adding the red herring, Willbe.




< Message edited by EternalHoH -- 8/20/2011 12:26:56 PM >

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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:21:36 PM   
Edwynn


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quote:

ORIGINAL: Sanity


Even if you were correct (which you are not) that the only responsible thing to do is make the poor and manufacturers etc pay far more for the energy that they need




The only reason we "need" the energy at such inordinate levels as we do currently is because we are too frikkin' stupid to figure out the "advance in technology" thing that would allow us to do with much less.


Evolution.


That sort of thing.





< Message edited by Edwynn -- 8/20/2011 12:23:02 PM >

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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:22:35 PM   
willbeurdaddy


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quote:

ORIGINAL: EternalHoH

quote:

ORIGINAL: willbeurdaddy

LMAO. ALL options and futures contracts have laws ensuring Federal preemption over State laws, including gambling laws, not just derivatives/swaps.



But there is 'beneficial use' of swaps and futures (closely tied to production of goods), and 'detrimental use' (pure gambling for gambling gain).

The CFMA took the leash off it all, even the detrimental stuff.  And in 10 short years, the detrimental side has created our Financial WMDs . All those credit default swaps backing mortgage securities made of junk, that was only a fraction of the detrimental side blowing up back in the financial crisis of 2008.

But thanks for adding the red herring, Willbe.



The red herring was claiming that Federal preemption clauses have fuckall to do with whether something is "gambling" or not. If you want to argue the merits of what is "beneficial" or "detrimental" then do it. Dont hide behind a technical provision that covers every security issued in the country.

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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:33:58 PM   
Sanity


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quote:

ORIGINAL: TheHeretic

quote:

ORIGINAL: Edwynn


Who to believe here?





Well, Edwy, given your history of outrageously stupid lies, that might not be a question you wish to raise.

Has anyone mentioned that gas prices are only as "low" as they are now because Obama has been dipping into the strategic reserve?





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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:39:37 PM   
EternalHoH


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quote:

ORIGINAL: willbeurdaddy

The red herring was claiming that Federal preemption clauses have fuckall to do with whether something is "gambling" or not.



So they are going to pass a law that specifically allows for gambling and bucket shops within the commodities arena and not expect that actual result?  That's your premise?  I can bridge a logic gap that you claim is too big of a leap?

Meanwhile, back here on planet earth.....

Pre-empting state gambling laws for OTC derivatives and bringing back a commodities markets version of a bucket shop, something that had been illegal since 1907, is primarily what the CFMA accomplished.

Enron wanted to be the pioneer in the corporate-run bookie business. Wendy Gramm was on the Enron board, and husband Phil spearheaded and delivered the CFMA. Unfortunately, Enron blew themselves up 'playing bookie', an early casualty. Ken Lay only went to jail for hiding his corporate gambling losses in dummy corporations more than one paper-trail away from dimwit investors.  Today, the oil companies (and to a larger extent, the investment banks) who run their own oil derivatives trading desks are succeeding at doing what Enron failed at, and in the process pushing energy prices higher because of that investor appetite.  And it all would have been illegal without the CFMA of 2000.

But its good to know that, according to some guy out in Idaho who gets all of his world knowledge at the end of a DSL connection, that such a reality is nothing more than propaganda spun by liberals, and the SEC is conveniently in on it.







< Message edited by EternalHoH -- 8/20/2011 1:24:22 PM >

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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:43:01 PM   
Lucylastic


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Only fair right?
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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:48:32 PM   
zephyroftheNorth


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Status: offline 		Didn't she just recently wish Elvis a Happy Birthday on the date of his death? I'm not so sure I'm willing to believe her so readily.

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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:50:10 PM   
extraordinarydom


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Status: offline 		Uhm, where did someone get the idea that the administration has been "dipping into" the strategic petroleum reserves? Fox News? (See my journal post about Fox viewers, and how they'd rather have the country develop weapons to fight aliens - no kidding - than have a program to fight climate change.
 
In any event, there's been no tapping of the strategic reserve because it wouldn't have a two cent -per gallon impact on gas prices at the pump. Sheesh!
 
As far as Michelle Bachmann is concerned, that woman is an idiot. (See my journal post just before the one about Fox viewers).

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RE: Bachmann promises $2/gal Gas - 8/20/2011 12:53:48 PM   
Lucylastic


Posts: 40310
Status: offline 		Hi Ex, welcome, it doesnt have to be fox, it could be drudge, rush, malkin, breitbart, limbaugh, or newsmax. Not that any of them are better with the facts than fox..
welcome to the board

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Profile   Post #: 111
RE: Bachmann promises $2/gal Gas - 8/20/2011 12:56:24 PM   
extraordinarydom


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Status: offline 		Thanks, Lucy. You're right: There are a whole raft of right wing loonies polluting the air waves.

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RE: Bachmann promises $2/gal Gas - 8/20/2011 1:26:33 PM   
TheHeretic


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quote:

ORIGINAL: extraordinarydom

Uhm, where did someone get the idea that the administration has been "dipping into" the strategic petroleum reserves? Fox News?


Welcome to forums, Ordinary.  If you are going to come in challenging facts of the world, you might want to keep yourself up to speed on them.

http://www.forbes.com/sites/christopherhelman/2011/06/23/obama-taps-petroleum-reserve-consider-this-q-e-3/

I have no interest in your profile, or your journal.  If you have something to say, pull up a chair, and get to typing. 

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RE: Bachmann promises $2/gal Gas - 8/20/2011 1:30:19 PM   
zephyroftheNorth


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quote:

Welcome to forums, Ordinary.


Oh ouch, Rich I'll bet he's wounded for life...or not

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RE: Bachmann promises $2/gal Gas - 8/20/2011 1:33:24 PM   
TheHeretic


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Status: offline 		I abbreviate to my convenience, Zeph.  Not my fault he chose poorly. 

Here's another article on the petroleum release, from a source the liberals just hate it when I cite from.

http://www.nytimes.com/2011/06/26/opinion/sunday/26sun3.html



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Profile   Post #: 115
RE: Bachmann promises $2/gal Gas - 8/20/2011 1:41:01 PM   
zephyroftheNorth


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From: The Great Frozen North
Status: offline 		Unh-huh so it's not that you're taking a shot at him, it's that he chose poorly. Nice try Rich.

Interesting article, and once again we agree. Geez at this point we might actually become....friends.

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Profile   Post #: 116
RE: Bachmann promises $2/gal Gas - 8/20/2011 3:33:22 PM   
willbeurdaddy


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quote:

ORIGINAL: extraordinarydom

Uhm, where did someone get the idea that the administration has been "dipping into" the strategic petroleum reserves? Fox News? (See my journal post about Fox viewers, and how they'd rather have the country develop weapons to fight aliens - no kidding - than have a program to fight climate change.
 
In any event, there's been no tapping of the strategic reserve because it wouldn't have a two cent -per gallon impact on gas prices at the pump. Sheesh!
 
As far as Michelle Bachmann is concerned, that woman is an idiot. (See my journal post just before the one about Fox viewers).



You need some better news sources yourself apparently. He released 30 million barrels several weeks ago.

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Profile   Post #: 117
RE: Bachmann promises $2/gal Gas - 8/20/2011 8:55:30 PM   
tazzygirl


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quote:

ORIGINAL: extraordinarydom

Thanks, Lucy. You're right: There are a whole raft of right wing loonies polluting the air waves.


Yup.  In this casem you are wrong.  He did release... so did some european countries.  Might wanna take a look around some different web sites for your news sources.


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Profile   Post #: 118
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