The Republicans will continue to defend Wall Street and speculators to no end, even if it means delivering a devastating blow to Main Street and community business across the country.
Earlier this week the Chicago Mercantile Exchange announced it will impose higher margins on oil trading. According to CNBC, “The CME Group raised U.S. crude oil futures margins by 25 percent as of the close of business on May 10, helping to bring prices down following a $5 a barrel spike on Monday.”
On May, 10th the CME announced an increase in margins and the price of a barrel of oil dropped over 2% right away. If that’s not a sign of speculation I don’t know what is.
Margins are deposits paid by investors in futures markets, where full payment is made when contracts mature, to an exchange or clearing house to cover the risk of default by that investor and typically are based on the largest most-likely daily market move.
