50 Cent arrested driving his Murcielago in NYC

Don't waste your time arguing with racerx, he is a complete imbecile. I have already had to deal with him on this same thread in the Lamborghini thread.



I am curious, as a police officer (a profession which has my complete respect), what your thoughts are about schienerUF's comments in this thread on the Lamborghini site:

Do you find this statement as insulting as I do?

 

Well, I guess the guy is entitled to his opinion, however wrong and uninformed it may be is his issue. As to my thoughts on it I'll tell you this, he would probably be suprised to learn that most of the persons hired as police officers in large cities nowdays have a four year degree (usally in Criminal Justice and/or pre-Law) from a traditional college or university. Add to that that I personally know SEVERAL cops who have completed law school at Tulane and decided to remain police officers and instead use their education to act as Attroneys for the various police orginizations (FOP, etc), regarding labor issues. On top of all of this, I'll tell you most guys who are good, honest cops NEVER took this job for money, nor do they ever expect to get rich, they do it because they belive in what they do. I guess the closest comparisons I can draw are firefighters and teachers, as most of them are in the same boat. None of us chose the professions thinking we would become wealthy, so most of us are not jelous of those persons who choose to work in professions where they are able to amass a great deal of net worth or personal assets.

For anybody to think that I would in some way be "upset" that 50, or any other person lives a better lifestyle than me is just stupid. My opinion is that if the guy made his money honestly, then he deserves to enjoy the spoils of his work. The same goes for guys who are Physicians, Rocket Scientests, of friggin bussiness owners. It's not like most people who have a lot of money just woke up one morning wealthy, they busted their ass to accuire that wealth, and to that end DESERVE the lifestyle they chose to lead. Hard work is not a trait dispise, but rather one I admire. My only problem comes with persons, who for whatever reason (wealth, race, religion, insert excuse) think they are above the law and do not treat others with respect.

With respect to my "lifestyle", sure I wish I had nicer things and more money, but if having those things meant working in a profession I dislike then I don't find that to be a suitable trade off. Same goes for my wife. She holds a Masters Degree in Geology and could probably double her salary were she to work for one of the oil companies, but that's not what makes her happy. Instead she took a lesser paying job for an enviromental engeneering company. She did that not because she is unqualified for the higher paying job, but because she also understands that there are some things more important than money.

Besides, between the wife I we get along get along just fine. Just like people who have made a lot of money, we save, spend, and invest wisely. Heck one of the first lessons my pop ever taught me about money was "Rich men don't get rich by spending their money foolishly". Now granted I'll never be "rich" but unsing such advice as a template means that in the short term I may have to make sacrifices, which benifit me in the long term. Case in point, the wife and I enjoy traveling abroad, so instead of taking 2-3 week long vacations every year (like most cops I know) we save our money, skip these vacations and go to Europe every other year for 3 weeks to a month. Hey, I can't afford a nice F-car, but I was able to get one hell of a nice 67 Mustang Fastback. It may not be as nice as 50's Lambo, but it suits me just fine and I'm happy.

Now, on to the professional thing. In my current capacity I am an Field Training Officer, which means that I am responsible for training the rookies fresh out of the academy. The first day I get every rookie I tell them several things, the first of which is this "Always remember, this is an honorable profession if you make it one". The second thing I try to burn into them is that one should ALWAYS treat others with dignity and respect. To better illistrate my point I let them know that a good thing to keep in mind is to always treat people the way you would want a cop to treat your mom or dad if they were pulled over/a victim of a crime, etc. Do that and you should have little or no problem with the law abiding citizens of the world.

As far as 50's Lambo, nice car and I hope he enjoys it as much as I enjoy my Mustang. His problem was not that he has a nice car, it's that he was driving like an ass and thought he was above the law because he is famous.

 

Dream34:

Your comments are exactly what I expected. Thank you for your service to the people of your community.

You are a much bigger man than CshienerUF or racerX. Hopefully they learn something from your post.

 

I know of one parked on the side of the road up in Manhattan...

Excellent post, Buzz.

 

It happened in California with electricity

Simple -- SoCalEd even admitted it on their website earlier in the year: the sole reason there are shortages is not because of lack of capacity, but because the artificial "competitive" market structure created by the deregulation law -- largely written by the utilities, remember -- permits generators to raise the price of their electricity virtually without limit by holding back on production. What this means is that no amount of conservation will bring prices down until the rules are changed -- no matter how little we use, the supply will shrink to keep the price just as high!

The Federal Energy Regulatory Commission (FERC) has just imposed wholesale price caps on electricity. Contrary to what you may think, this could actually reduce blackouts. Why? Because the whole reason there are blackouts (even after consumption has dropped substantially) is that the artificial pricing structure of the spot market basically removes all incentive for anybody to lower their prices. Instead they have only an incentive to raise prices, which is accomplished easily by holding back on production.

http://news.bbc.co.uk/2/hi/business/1972574.stm

and it has happened with oil

OIL pricing;

from: http://www.opec.org/library/FAQs/aboutOPEC/q20.htm

"In today's complex global markets, the price of crude oil is set by movements on the three major international petroleum exchanges, all of which have their own Web sites featuring information about oil prices. They are the New York Mercantile Exchange (NYMEX, http://www.nymex.com), the International Petroleum Exchange in London (IPE, http://www.ipe.uk.com) and the Singapore International Monetary Exchange (SIMEX, http://www.simex.com.sg). "

Also;
"Financial Speculation vs. Long-Term Contracts
Some people surmise that China's seemingly insatiable thirst for more oil to fuel its huge economy is one of the reasons for the upward spiral of oil prices. That may be a part of the answer. But more critical views than mine argue that the answer is financial speculation, or greed, that is fuelled by a collusion of leading banks, financial institutions, and big oil conglomerates to cartelize oil pricing and distribution world-wide.

For background purposes, it may be apropos of our discussion to mention that today, oil prices are more than 50% above the 1992 levels.

For a long time, long-term contracts—frequently for 24 or 36 months—at fixed, stable prices were the way oil was generally traded in the world.

The oil shocks of 1974 and 1979—perceived mainly as caused by the OPEC oil embargo—changed all that. Long-term oil contracts were replaced with oil sales at the spot market based in Rotterdam and the futures markets.

By spot is meant, that one buys oil at a market only 24-48 hours before one takes physical (spot) delivery, as opposed to buying it 12 or more months in advance. In effect, the spot market inserted a financial middleman into the oil patch income stream, in much the same way that deregulation would later do for electricity.

Today, the oil price is largely set in the futures markets. The two principal locales which dominate oil futures trading are the London-based International Petroleum Exchange (IPE), established in 1980, and the New York Mercantile Exchange (NYMEX), which is more than a century old, but first started trading oil futures in 1983.

Traders call futures contracts "paper oil": The contracts are a paper claim against oil, which are far in excess of the volume of oil produced and actually delivered at oil terminals on behalf of those contracts.

The traders in IPE and NYMEX, for instance, transact large volumes of these so-called oil futures contracts, which are also called bets (a word that is usually associated with gambling, but is now used in oil trading, for the reason that oil speculators gamble on these paper oil purchases). Each contract, I am told, is a bet on 1,000 barrels of oil. More than 100 million of these oil derivatives contracts were traded on these exchanges in 2003, representing 100 billion barrels of oil. In the year 2000 a study showed that in the IPE, for every 570 "paper barrels of oil" traded each year, there was only one underlying physical barrel of oil. The 570 paper oil contracts pull up the price of the underlying barrel of oil and, thereby, manipulate oil prices all over the world. If the speculators bet long—that the price will rise—the mountain of bets pulls up the underlying price.

But worse, there is a second layer of leverage. At the London IPE, it is reported that a speculator, by investing $1,520, can control 1,000 barrels of oil. Thus, a small group of speculators, through leverage, can control the world oil price. A NYMEX document, "How the Exchange Works," boasts that it has nothing to do with oil production....

Consider the IPE, which was created in 1980. In 2001, the Atlanta, Georgia-based Intercontinental Exchange purchased the IPE. Now, the biggest oil derivatives traders who run trading on the IPE include Barclays Capital, Bear Stearns International, J.P. Morgan Securities, Deutsche Futures London, BP Oil International, and Shell International Trading—the key components of the British oligarchy's world oil cartel.

In an attempt to break the oil price spiral, Saudi Arabia has recently committed to produce 2 million additional barrels of oil per day. However, as of June 2 of this year, speculators had taken out 77,000 oil futures at the NYMEX taking a "long" position; i.e., betting that the oil price would rise. Through such bets, they make oil prices go up as they cover their own bets. Because each contract represents 1,000 barrels, the "longs" contracts constitute the equivalent of three-quarters of a billion barrels of oil—which the speculators would use to overwhelm the Saudis' production increase of 2 million barrels per day. This is part of the oil warfare that is now ongoing."





Melissa Francis interviewed the pres. of opec in Vienna and he said he saw no reason for crude to be above 45/barrell and he blamed it on traders.




more of the bi-partsan senate report;

Many analysts believe these speculative investments have significantly raised the price of oil futures. While it is not possible to determine the precise dollar increase in the price of oil attributable to market speculation, <b>some analysts have estimated that speculation has added as much as $20-$25 to the price of each barrel of oil</b>, thereby pushing up oil from about $50 to around $70 per barrel. As former Federal Reserve Chairman Alan Greenspan recently stated, &#8220;with the demand from the investment community, oil prices have moved up sooner than they would have otherwise.&#8221;

In addition, due to past regulatory actions by the CFTC, oil and gasoline traders in the United States may now electronically trade U.S. energy commodities on a London futures exchange, called &#8220;ICE Futures.&#8221; ICE (Inter-Continental Exchange) Futures is regulated by the United Kingdom Financial Services Authority, but not the CFTC. As a result, persons within the United States seeking to trade key U.S. energy commodities &#8211; U.S. crude oil, gasoline, and heating oil futures &#8211; now can avoid all CFTC oversight and reporting requirements simply by routing their trades through the ICE Futures exchange in London instead of the NYMEX in New York

Speculation Has Increased Prices. Speculation has contributed to rising U.S. energy prices, but gaps in available market data currently impede analysis of the specific amount of speculation, the commodity trades involved, the markets affected, and the extent of price impacts.


Price-Inventory Relationship Altered. With respect to crude oil, the influx of speculative dollars appears to have altered the historical relationship between price and inventory, leading the current oil market to be characterized by both large inventories and high prices."






backwardation
Definition

A market condition in which a futures price is lower in the distant delivery months than in the near delivery months

retardation
Definition

When a blowhard with a pedigree tells me markets can't be manipulated

contango
Definition

A condition in which distant delivery prices for futures exceed spot prices, often due to the costs of storing and insuring the underlying commodity. opposite of backwardation.

Fandango
Definition

Buy movie tickets in advance, find theater showtimes, view trailers, read reviews and more at Fandango


Summary- Price has little to do with supply and demand, price is determined by 2 principal marketplaces both based in USA, the NYMEX and ICE(physically in london), traders can trade w/o ever getting their hands on a quart of oil, and like all markets it can be manipulated. The US senate and its investigators believes it to be so and so don't most rational people. Enron screwed California and manipulated the large electricity market creating phony shortages to make money, same with oil. It dosen't have to be a large conspiracy, just a group of people who all benefit from the rise in a particular commodity.

 

Schiener's snide comment reminds me of the adage: "The slide to hell is greased with pride."

 

I couldn't help but notice that that you failed to mention the source of your notes: They came from Lyndon LaRouche's website.

http://www.larouchepub.com/other/2004/3141pimentel_oil.html

A simple google search found this out for me. I can see why you would want to keep that hidden. What next? Are you going to tell us about black helicopters, the New World Order, and the evil United Nations? Put your aluminum foil hat back on, you nutcase.

 

I started laughing when I saw the website hosting it, but facts are facts.

I found info on opecs site, the us senate, the BBC, and good old lyndons site (is he still alive?).

Dispute the facts not the who hosts them. The major facts established are where and how the price for crude is created. I did the same websearch you did, but dispute any of the facts, BLOWHARD.

The senate committee got their info from industry experts and testimony and ran it by 50 staff lawyers and its their conclusions that I AGREE WITH.

 

Maybe I should check to see if louie Farrahkan has anything to add. lol

 

Not only did you not refute 1 fact regarding oil, but you use weaselly character assasination.

I have learned more than enough about cops in the real world and have expressed my thoughts on that matter. You have shown what you are twk, unless of course you come out and say again that you haven't meant what you have typed.

 

Very smart. It was a publicity stunt probably. Middle of town, lots of people around, etc etc.

 

Hmmm...they trade crude oil on the NYMEX...wow, major revelation. A free market creates the price for crude oil...holy smokes, who'd a thunk it?

Guess what, you tin-foil-hatted nutcase, they trade agricultural commodies and interest rate futures sat the Chicago Board of Trade, they trade currencies and equity indices on the Chicago Mercantile Exchange and they trade metals on the COMEX. Are all these markets also products of conspiracies to manipulate markets to some nefarious end? The fact that price discovery occurs in an open market system makes the market LESS susceptible, not MORE, to manipulation, you fcuking moron. Facts? What facts? you quote from OPEC, they are the OIL CARTEL, you fcuking idiot. You quote from Lyndon LaRouche? Wow.

You are crazy, plain and simple.

There is no secret conspiracy to manipulate crude oil markets, you nutcase. You are sick in the head. Go read your Lyndon LaRouche websites and tell us about Roswell and Area 51. And don't forget your tin foil hat, the aliens and their mind-reading equipment, you know...

The FACT is that the crude oil markets are in contango. This is an impossible condition to exist if the market was being squeezed. Why don't you take a look at every other major commodity market and see if they too have experienced similar run ups. Copper? Yes. Grains? Yes. Take a look at London Coffee, you fcuking wingnut. It is through the roof. Are all these markets the subject of "secret nefarious manipulators"? Why don't you do a little research on the Hunt Brothers and the silver market and see how difficult it is to corner a market like silver, let alone the largest commodity in the world.

You have serious problems. Get some psychiatric help, you need it.

 

Dissing Diddy just wasn't enough.

In other news, I paid 25 bucks to fill 3/4 of my tank Premium.

 

amazing how many replies to a rappers arrest

 

It is to you

post 186

You don't even know your own industry. Your insults and emotional outbursts are getting tired. I'm glad I could educate you about how crude prices are determined. Again read slowly, speculation has driven up oil beyond where supply and demand would have it. Facts are great,

GOOD NIGHT

PS. wipe that foam away from your mouth.

 

Your that guy who was giving away free lambo shirts, how'd that turn out?

 

Ok, slow down count to 10 light up a pall-mall and relax.

Wasn't this supposed to be about fiddy's arrest for crappy driving in the city of New York?

ALL comodities from oil to frozen concentrated orange juice are traded on the open market and everyone who has a hand in them is looking to put a buck in their pocket. OPEC is going to look out for what is best for OPEC just like Tropicana is going to look out for what is best for Tropicana.

I feel that OPEC feels that oil should not get to $70 and here's why. When oil is high, as it was up until a few weeks back, people start screaming that we need to find an alternative to oil. Shell comes out and says that at $70 they can make profit by converting coal into oil or pumping oil shale in Colorado. Who is the Saudi Arabia of coal and oil shale? Why the United States is. When oil slides under $70 all talk about these new and emerging resources cease. Once it becomes profitable for domestic concerns to pump the vast resources of this great land of ours we can cut off the middle east and the programs that they support (you know what I am talking about...don't make me take this to the polotics/religion thread).

In my most humble of opinions, I can't wait until oil gets to a hundred. At this point maybe we can come to a conclusion as to just how we are going to tell the middle east, and throw Venezuela in for good measure, to bite our collective as$es

 

i dont make lambo no more

ive made
Koneissegg,Ferrari, Saleen, Porsche, Zonda, Bugatti, and those make good money

 

That is not what I am arguing. This is what I do for a living. My firm speculates on the direction in asset prices. We are motivated by profit as are all speculators. What the tin-foil-hat crowd is claiming is that the crude oil market is being manipulated by some nefarious secretive group with the intent of gouging the general public.

I have been trying to explain, in vain it appears, that the market goes where the market wants to go. There is no secret conspiracy to manipulate the price of oil, as the Lyndon LaRouche-wannabe thinks. Crude oil, like every other market, is priced by millions of market participants all over the globe buying and selling and in the aggregate driving the market to its equilibrium point. This is Economics 101.

However the paranoid schizophrenic seems to believe that a small group of nefarious individuals can manipulate the largest physical commodity market in the world. This is lunacy and the stuff that Oliver Stone movies are made of. It is wholy ridiculous and completely contrary to what the price curve of that market is telling us. He is long on conspiracy theory and short on explanation for why the markets are not behaving as he claims they are. In fact, given that crude oil is off nearly $15 from its high, he picked an odd time to decide to "expose" this "worldwide conspiracy"

He is an idiot. I can't believe I wasted as much time and bandwidth on him as I have. No more, I am glad to say.

I sincerely hope he gets the help he so clearly needs. Failing that, I am buying as many tin and aluminum forwards on the London Metals Exchange as I can. I think there is going to be a run on tinfoil hats...

 

Read slowly...if prices are overvalued beyond the fundamentals, then speculators would be selling, not buying.


Facts are great. you should try them sometime.

 

In this one I'm going to side with the Fund Manager

 

twk, I was reading last year that the weakness of the dollar was making the price rise for us in the US. Something along the lines that oil was relatively the same price viewing from the EU in Euros. Since it's priced in dollars, do we see more fluctuation because the exchange rate will affect it?

 

Nice! Your design on the was was hot.

 

Not directed at anyone in particular;

My point has always been that speculators trading on the nymex have set and run up the price of crude which has little to do with supply and demand of physical crude. (not talking refined US gasoline)

The story points out the fact that crude is off 16%, yet worldwide demand is not off, just the price. Their reason for the drop in crude is speculators are getting out.


From CNBC right now;

"Crude tumbles, and stocks jump
Crude hits $66.25 a barrel, down 16% from July. The Dow jumps about 61 in response. The dollar gains strength against the euro and the yen. Home builder Lennar cuts profit forecast. OPEC, CPI report will dominate markets next week.

Crude oil closed down $1.07 a barrel to $66.25 on Friday, a decline of 1.6%. Crude is off 16% from a closing peak of $79.92 on July 14.

Many analysts say crude and gasoline prices will fall substantially in the next few months as commodity speculators get out of energy futures"

FACTS NOT OPINIONS FROM CNBC

 

I wonder what the Dogg would say about all this. Crude? Speculators? College Degrees?
Folks, at the expense of interjecting a little reality into this thread, there are now more law enforcement personnel per square inch in the high profile areas of Manhattan than you would ever believe. Marked/unmarked, undercover, overdressed, with and without guns, donuts, handcuffs, radios, dogs, bomb-sniffing animals of other sorts, most of whom are probably glad for a boring day. And, if you are still with me, they are lurking at corners watching for seatbelt violators, cellphone yackers, cracksmoking dimwits in stolen pizza delivery hatchbacks and the odd old person who cannot see over the steering wheel but still insists on driving in Manhattan.
The job of the constabulary is to stop these people. Black, white, jews in olds 98s with bashmarks from 5 years ago, chinese food delivery boys riding on the sidewalk, ladies from new jersey in Lexus SUVs who are simply clueless, it just doesn't matter- they will stop them. Is it a pretext- will the middle manager driving without his seatbelt turn out to be Osama Bin Laden? Not likely. But, with any pretext as a pretext, its a good way to keep a handle on a city that needs to feel safe.
So, my man drives his flash Lambo, without a license plate, pulls a maneuver that every Yellow Cab does 35 times a minute to make money, and then, without license or registration, and perhaps a little attitude, the cops are supposed to walk away?
Like his spokesperson said, it was a 'misunderstanding.' I can see that. Now, back to bashing white guys in suits.