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Originally Posted by re_guderian
I notice the article didn't really go into specifics on what this "Enron Loophole" really is (though Enron is enough of a negative buzzword that it just has to be bad, right?). Isn't this the same de-regulation that allows you and I to trade in single commodities? Now it may be wise to repeal that, but it's funny to see the same people the boo-hoo FISA be in favor of repealing the "Enron" loophole. I just detest the smoke and mirror reporting jobs of using hot-button buzzwords while masking the real details, but hey, that's the news these days, right?
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My understanding is that it's a specific loophole that affects oil speculators who are allowed to make a percentage of their trades on out of country (non US) exchanges tax free. This encourages speculative spirals, supposedly.
Can you and I do that for any commodity? I honestly don't know, but I don't think so.