I believe I've single handedly been reponsible for oil pricesplummeting

Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Gold plummeted to $919, and that's small potatoes compared to the
savings motorists should soon reap.

Just tryin' to help y 'all!

Ira

I just hope that the prices show up out here in California!
Thanks for doing your part, Ira!
Bruce

Ira wrote:
Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Gold plummeted to $919, and that's small potatoes compared to the
savings motorists should soon reap.

Just tryin' to help y 'all!

Ira

In article , Ira wrote:
Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Gold plummeted to $919, and that's small potatoes compared to the
savings motorists should soon reap.

Just tryin' to help y 'all!

Ira
thanks for taking one for the group.
i don't think gas will go down much.

Ira wrote:
Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Gold plummeted to $919, and that's small potatoes compared to the
savings motorists should soon reap.

Just tryin' to help y 'all!

I'd still rather have the coins than the bullion. I like coins. No, wait,
I love coins. Especially coins such as 64 Saints.

James

"Ira" wrote in message
...
Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Gold plummeted to $919, and that's small potatoes compared to the
savings motorists should soon reap.

Just tryin' to help y 'all!

Ira

So,you really believe prices will fall as fast as they rose? We shall see.
Although I did see a $3.95/gal. price today.

On Jul 23, 7:38*pm, "don't look" don't wrote:
"Ira" wrote in message

...



Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Gold plummeted to $919, and that's small potatoes compared to the
savings motorists should soon reap.

Just tryin' to help y 'all!

Ira

So,you really believe prices will fall as fast as they rose? We shall see..
Although I did see a $3.95/gal. price today.

just last Friday I filled up with premium at $4.49/gal. We'll see
What it's priced at this Friday.

Ira

"Ira" wrote in message
...
Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Gold plummeted to $919, and that's small potatoes compared to the
savings motorists should soon reap.

Just tryin' to help y 'all!

Ira


Hello

You don't think crude oil prices went down
because Oil Speculators are being looked at
much more from Congress? (See Below). This
bill is still being debated.



Oil Speculation Control
Act of 2008 (Introduced in Senate)

S 3131 IS


110th CONGRESS

2d Session

S. 3131
To amend the Commodity Exchange Act to ensure the application
of speculation limits to speculators in energy markets, and
for other purposes.


IN THE SENATE OF THE UNITED STATES

June 12, 2008

Mrs. FEINSTEIN (for herself and Mr. STEVENS) introduced the
following bill; which was read twice and referred to the
Committee on Agriculture, Nutrition, and Forestry


--------------------------------------------------------


A BILL
To amend the Commodity Exchange Act to ensure the application
of speculation limits to speculators in energy markets, and
for other purposes.


Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Oil Speculation Control Act of
2008'.

SEC. 2. DEFINITION OF INSTITUTIONAL INVESTOR.

(a) Definition- Section 1a of the Commodity Exchange Act
(7 U.S.C. 1a) is amended--

(1) by redesignating paragraphs (22) through (34) as
paragraphs (23) through (35), respectively; and

(2) by inserting after paragraph (21) the following:

`(22) INSTITUTIONAL INVESTOR- The term `institutional
investor' means a long-term investor in financial markets
(including pension funds, endowments, and foundations) that--

`(A) invests in energy commodities as an asset class in a
portfolio of financial investments; and

`(B) does not take or make physical delivery of energy
commodities on a frequent basis, as determined by the
Commission.'.

(b) Conforming Amendments-

(1) Section 13106(b)(1) of the Food, Conservation, and
Energy Act of 2008 is amended by striking `section 1a(32)'
and inserting `section 1a'.

(2) Section 402(d)(1)(B) of the Legal Certainty for Bank
Products Act of 2000 (7 U.S.C. 27(d)(1)(B)) is amended by
striking `section 1a(33)' and inserting `section 1a'.

SEC. 3. INSPECTOR GENERAL.

Section 2(a) of the Commodity Exchange Act (7 U.S.C. 2(a))
is amended by adding at the end the following:

`(13) INSPECTOR GENERAL-

`(A) OFFICE- There shall be in the Commission, as an
independent office, an Office of the Inspector General.

`(B) APPOINTMENT- The Office shall be headed by an
Inspector General, appointed in accordance with the
Inspector General Act of 1978 (5 U.S.C. App.).

`(C) COMPENSATION- The Inspector General shall be
compensated at the rate provided for level IV of the
Executive Schedule under section 5315 of title 5, United
States Code.

`(D) ADMINISTRATION- The Inspector General shall exert
independent control of the budget allocations,
expenditures, and staffing levels, personnel decisions
and processes, procurement, and other administrative and
management functions of the Office.'.

SEC. 4. TRADING PRACTICES REVIEW WITH RESPECT TO INDEX
TRADERS, SWAP DEALERS, AND INSTITUTIONAL INVESTORS.

Section 4 of the Commodity Exchange Act (7 U.S.C. 6) is
amended by adding at the end the following:

`(e) Trading Practices Review With Respect to Index
Traders, Swap Dealers, and Institutional Investors-

`(1) REVIEW-

`(A) IN GENERAL- Not later than 30 days after the
date of enactment of this subsection, the Commission
shall carry out a review of the trading practices of
index traders, swap dealers, and institutional
investors in markets under the jurisdiction of the
Commission--

`(i) to ensure that index trading is not adversely
impacting the price discovery process;

`(ii) to determine whether different practices or
regulations should be implemented; and

`(iii) to gather data for use in proposing
regulations to limit the size and influence of
institutional investor positions in commodity markets.

`(B) EMERGENCY AUTHORITY- For the 60-day period
described in subparagraph (A), in accordance with
each applicable rule adopted under section 5(d)(6),
the Commission shall exercise the emergency authority
of the Commission to prevent institutional investors
from increasing the positions of the institutional
investors in--

`(i) energy commodity futures; and

`(ii) commodity future index funds.

`(2) REPORT- Not later than 30 days after the date
described in paragraph (1)(A), the Commission shall
submit to the appropriate committees of Congress a
report that contains recommendations for such
legislation as the Commission determines to be
necessary to limit the size and influence of
institutional investor positions in commodity markets.'.

SEC. 5. BONA FIDE HEDGING TRANSACTIONS OR POSITIONS.

Section 4a(c) of the Commodity Exchange Act
(7 U.S.C. 6a(c)) is amended by striking `(c) No
rule' and inserting the following:

`(c) Bona Fide Hedging Transactions or Positions-

`(1) DEFINITION OF BONA FIDE HEDGING TRANSACTION OR
POSITION- The term `bona fide hedging transaction
or position' means a transaction or position that
represents a hedge against price risk exposure
relating to physical transactions involving an
energy commodity .

`(2) APPLICATION WITH RESPECT TO BONA FIDE HEDGING
TRANSACTIONS OR POSITIONS- No rule'.

SEC. 6. SPECULATION LIMITS RELATING TO SPECULATORS
IN ENERGY MARKETS.

Section 4a of the Commodity Exchange Act
(7 U.S.C. 6a) is amended by adding at the end the
following:

`(f) Speculation Limits Relating to Speculators
in Energy Markets-

`(1) DEFINITION OF SPECULATOR- In this subsection,
the term `speculator' includes any institutional
investor or investor of an investment fund that
holds a position through an intermediary broker
or dealer.

`(2) ENFORCEMENT OF SPECULATION LIMITS- The
Commission shall enforce speculation limits with
respect to speculators in energy markets.'.

SEC. 7. LARGE TRADER REPORTING WITH RESPECT TO
INDEX TRADERS, SWAP DEALERS, AND INSTITUTIONAL
INVESTORS.

Section 4g of the Commodity Exchange Act
(7 U.S.C. 6g) is amended by adding at the end
the following:

`(g) Large Trader Reporting With Respect to
Index Traders, Swap Dealers, and Institutional
Investors-

`(1) IN GENERAL- Each recordkeeping and reporting
requirement under this section relating to large
trader transactions and positions shall apply to
index traders, swaps dealers, and institutional
investors in markets under the jurisdiction of
the Commission.

`(2) PROMULGATION OF REGULATIONS- As soon as
practicable after the date of enactment of this
subsection, the Commission shall promulgate
regulations to establish separate classifications
for index traders, swaps dealers, and institutional
investors--

`(A) to enforce the recordkeeping and reporting
requirements described in paragraph (1); and

`(B) to enforce position limits and position
accountability levels with respect to energy
commodities under section 4a(f).'.

SEC. 8. INSTITUTIONAL INVESTOR SPECULATION LIMITS.

(a) Core Principles Applicable to Significant
Price Discovery Contracts-
Section 2(h)(7)(C)(ii)(IV) of the Commodity
Exchange Act (7 U.S.C. 2(h)(7)(C)(ii)(IV)) is
amended by inserting after `speculators' the
following: `(including institutional investors
that do not take delivery of energy commodities
and that hold positions in energy commodities
through swaps dealers or other third parties)'.

(b) Core Principles for Contract Markets-
Section 5(d)(5) of the Commodity Exchange Act
(7 U.S.C. 7(d)(5)) is amended by inserting
after `speculators' the following: `(including
institutional investors that do not take
delivery of energy commodities and that hold
positions in energy commodities through swaps
dealers or other third parties)'.


...

"Ira" wrote in message
...
Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Funny how some experts claim that oil price drops won't be reflected at the
pump for up to two months, and that anticipation and emotion don't have a
significant effect on pump prices. I think anyone who experiences reality
can see some flaws in this paradigm.

We appreciate your extra effort to bring gas prices down.

On Wed, 23 Jul 2008 14:26:27 -0700 (PDT), Ira wrote:

Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Gold plummeted to $919, and that's small potatoes compared to the
savings motorists should soon reap.

Just tryin' to help y 'all!

It will take a while before the greedy oil companies LOWER gas prices
because of a drop in crude oil prices.

Now, if you sold some gold coins and crude oil prices went up, the
price at the pump would likely go overnight.

I have never understood it.

"Jon Purkey" wrote in message
news
On Wed, 23 Jul 2008 14:26:27 -0700 (PDT), Ira wrote:

Here's why. Last week, when gold was at $975, an old customer sold me
four Saints, all PCGS graded. One was in a MS64 holder, two were in
old green
holders graded MS-61, and one, a 1910-D grades MS-63. I paid an
average of $1020 apiece,
which I felt was an attractive price, especially with the MS 64
included.

Within hours of my purchase, oil prices started falling from about
$145 per barrel and is now at $125 per. Prices at the pump should
reflect this nosedive, and that's a good thing.

Gold plummeted to $919, and that's small potatoes compared to the
savings motorists should soon reap.

Just tryin' to help y 'all!

It will take a while before the greedy oil companies LOWER gas prices
because of a drop in crude oil prices.

Now, if you sold some gold coins and crude oil prices went up, the
price at the pump would likely go overnight.

I have never understood it.

Thanks IRA and Congress. saved $1.00 on gas this week.