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The Think Progress web site is a Soros-funded mouthpiece for the Obama administration. Someone at Think Progress or its parent, the Center for American Progress, has instructed cub reporter Lee Fang to devote full time to attacking Charles and David Koch and their company, Koch Industries. (It would be interesting to know who gave that instruction, and why.) We have deconstructed several of Mr. Fang's attacks, all of which have been juvenile. But his latest effort is perhaps his most pitiful yet.
In "The Contango Game," Fang tries to show that Koch Industries "manipulates the oil market for profit." Unfortunately, young Mr. Fang has neither the business experience nor the intelligence to understand the issues about which he writes. The result is that nearly every sentence is a howler. Among other things, while a contango market is the main subject of Fang's post, he doesn't know what the phrase means.
Quote:
Young Mr. Fang continues:
In 2008, Koch called attention to itself for "contango" oil market manipulation. A commodity market is said to be in contango when future prices are expected to rise, that is, when demand is expected to outstrip supply.
This is incorrect. "Contango" is not "market manipulation." On the contrary, it is the natural state of most markets. It simply means that at a given time, the price of a forward or futures contract is trading above the present spot price. This is what you would expect, given the time value of money. Occasionally, for various reasons, this usual condition may not hold; then we have what is called "backwardation." A contango market has nothing to do with any expectation; rather, if the futures price is higher than the spot price, as is normally the case, it is a contango market.
I cant post the entire article but its a good one. These Soros funded groups exist partially to attack and bring down others, with little or no facts. Its a do "whatever it takes" kind of thing to tear down people like the Koch brothers or Beck, and let Soros continue doing what hes doing and has been doing. This powerful man has a plan to bring down this country and it's too bad more in the media dont call him out and take him to task.
I cant post the entire article but its a good one. These Soros funded groups exist partially to attack and bring down others, with little or no facts. Its a do "whatever it takes" kind of thing to tear down people like the Koch brothers or Beck, and let Soros continue doing what hes doing and has been doing. This powerful man has a plan to bring down this country and it's too bad more in the media dont call him out and take him to task.
Koch and Soros are the equivalent of Hulk Hogan and Randy "Macho Man" Savage, only the true believers think the fight is real.
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