/lit/ - Literature

[Anonymous No.15151279]

/LIT/ YOU HAVE THE OPPORTUNITY OF A LIFETIME RIGHT NOW TO JOIN THE RANKS OF THE ELITE! OIL HAS GONE NEGATIVE BUY AS MUCH OIL STOCK AS FUCKING POSSIBLE BEFORE IT GOES BACK UP! IF OIL TRULY CRASHES WE ARE ALL GOING TO DIE ANYWAYS. IF NOT, YOU YOU BECOME A MODERN DAY ARISTOCRAT. SOUNDS SIMPLE, RIGHT?

[Anonymous No.15151284]

sure, where can I buy some?

[Anonymous No.15151285]

>>15151279
Nigga what you talking about oil for? Bitch you cooking?

[Anonymous No.15151287]

Tell me how important buying into oil would be?

Convince me to buy into something that has been root cuase of fucking up our environment?

Seem like now would be a good time to look at alternative energies.

[Anonymous No.15151288]

>>15151279
I don't have any money though

[Anonymous No.15151303]

>>15151287
disgusting, take your sickening teenage leftist idealism back to r*ddit little faggot.

[Anonymous No.15151308]

>>15151279
You know what's more important? Organic matter that hasn't yet been turned into hydrocarbon based fuel by the passage of time. Like the bones of the artist J Joyce, in storage at an animal sanctuary in continental Europe.

[Anonymous No.15151309]

FUCK THIS
I WANTED MY MAD MAX FUTURE

[Anonymous No.15151313]

>>15151284
>>15151285
>>15151287
>>15151288
Its gone negative. Its literally $-37 a barrel.

Now, for the tutorial:

>make an account with a broker
>robinhood is the best at the moment because you don’t need to wait until the deposit gets into your account in order to start trading. Up to $5000 of buying power in advance.
>go through all the process of opening the account
>click on buying power
>click deposit
>dump your money into it
>go to search
>search OIL
>pic related will show up
>buy what you can. I recommend big companies like XOM, phillips 66 but you can buy whatever you want. Just avoid the ones that are small and on the brink of bankruptcy.
>sell the shares once we’re back to normal

[Anonymous No.15151318]

>>15151288
Where's ur trumpbux

[Anonymous No.15151321]

>>15151287
>fucking up our environment
cringe

[Anonymous No.15151322]

>>15151313
forgot the pic

[Anonymous No.15151329]

>>15151313
>dump your money into it
I told you I don't have any money anon.

[Anonymous No.15151341]

>>15151303
>Disgusting teenage leftist idealism

How traumatised do you have to be to get so triggered by someone saying they don't want to buy something.

[Anonymous No.15151344]

>>15151287
the whole point of capitalism is to get money regardless of ethics

[Anonymous No.15151345]

>>15151313
what is this bullshit doing on /lit

[Anonymous No.15151348]

THIS HAS NEVER HAPPENED IN HISTORY

DO YOU REALIZE THAT?
THERE HAS NEVER BEEN A CONCEPT OF FUTURE ASSETS GOING NEGATIVE. NEVER IN HISTORY. YOU ARE LIVING IN HISTORY

THIS IS GOING TO CRASH THE ECONOMY, EXIT ALL MARKETS.

think about this, this opens of pandoras box, how do you price this now????? 0-(-5)? do you realize how big of a deal this is? this is going to fuck everything up forever.

[Anonymous No.15151356]

>>15151279
Actual /biz/raely here, don't do it.
You would need to fucking store that oil.
There is a good reason why the price is below zero.

[Anonymous No.15151360]

>>15151345
Nigga I'm trying to make you cunts aristocratic elites to both replace our current shit elites, and so you can spend the rest of your life on the arts and philosophy instead of worrying about money.

[Anonymous No.15151361]

>>15151321
>NOOOOOOOOOOOOOO, STOP. YOU CAN'T FUCK THE ENVIROMENT. NOOOOO THE PLANTERINOS AND FLUFFER ANIMALRIONOS. I AM SO FRIGHIN MAD.

[Anonymous No.15151365]

>>15151313
Think 500 bucks is worth it?

[Anonymous No.15151375]

>>15151356
Dude you have to admit theres never been something like this that an average joe even could exploit to become filthy rich. Its like a video game bug but for our economy. The system wasn't set up for this kind of situation.

[Anonymous No.15151382]

>>15151365
Better then nothing.

[Anonymous No.15151417]

>>15151313
>buy stocks in oil for negative price
>have to pay for transportation
>have to pay for storage or get fucked by the EPA
>don't collect the barrels? get fucking sued bitch
Yeah I don't see how this could go wrong at all.

[Anonymous No.15151448]

>>15151417
If you acquire enough wouldn't you outright be able to buy a warehouse to store them in?

[Anonymous No.15151449]

>>15151313
XOM only went down like 5% today. You're better off buying XOM puts or waiting a bit and then buying USO (which went down almost 300% since Jan)

[Anonymous No.15151474]

>>15151448
How much do you think it would cost to transport that amount of barrels? Jesus christ

[Anonymous No.15151487]

>>15151474
if you use the oil as fuel... 0

[Anonymous No.15151522]

I'm too stupid to take advantage of this, I don't even know what investing in stocks entails, are they going to mail me gallons of oil like >>15151417

[Anonymous No.15151533]

>>15151522
Same i can't tell apart all the shitposting from the truth of what all this actually means...

[Anonymous No.15151547]

>>15151474
Why not just acquire a large enough amount of oil so that it covers the cost of transportation too?

[Anonymous No.15151556]

>>15151417
first, you don't have to take delivery on your position
second, they were literally paying people for delivery because they ran out of storage, the need for suppliers to push for delivery was the whole reason it fell into negatives. If you want to buy a position in oil stock, it costs money, if you want a deliver of oil to your warehouse, they pay you
I'm not going to leave any snide comments because all in all you are all much smarter than /biz/, they are a pack of gibbering retards.

[Anonymous No.15151620]

>buying a falling dagger

[Anonymous No.15151637]

>>15151279
FUCK YOU /biz/ YOU TOLD ME CHAINLINK WAS GOING TO MAKE ME RICH, I'M NOT FALLING FOR YOUR SCAMS ANYMORE

[Anonymous No.15151643]

>>15151279
You need a way to store a bunch of oil

[Anonymous No.15151654]

>>15151487
>>15151547
>using crude oil as fuel

>>15151556
You sure about all of this? This shit is all so unprecedented. I have no idea how you can be so certain.

[Anonymous No.15151658]

>>15151279
Only posting because I care about you, fellow /lit/posters (i work in finance so trust me):

DO NOT BUY OIL STOCKS
Futures contracts dont work the same.
Basically oil futures are in contango and the spread isn’t being arbitraged because of shortage in oil storage vessels. This trade only works on insane scale and you have to pay millions to store your millions of gallons of oil in containers you can’t buy bc of a shortage.

USO and similar oil ETFs are pricing the future oil value in so no you can’t buy calls on ETFs because future prices arent 1:1 w: the underlying commodity

[Anonymous No.15151667]

>>15151658
But if this advice helped you, do me a favor and tell /biz/ the opposite of what i told you

[Anonymous No.15151672]

>>15151658
Thanks bro, I'll take your word on it

[Anonymous No.15151677]

>>15151620
you WILL buy my oil bags

[Anonymous No.15151701]

>>15151654
Acquire enough oil to cover the cost of that too.

[Anonymous No.15151716]

>>15151701
>he bought?
>yes, sir. He went all in.
>dump it all.
>b-but its already below zero?
>I SAID DUMP IT

[Anonymous No.15151717]

>>15151279
This is a literature board OP - we're mostly Communists here, naturally. /lit/ doesn't want to buy negative-price oil.

[Anonymous No.15151730]

American oil companies haven’t been profitable for investors for the last ten years. They’re entering a broken market and banks are choking off their funding in a capital intensive business. Why exactly do you think oil stocks will all of the sudden be profitable? This is the price of the commodity not the stocks.

[Anonymous No.15151731]

>>15151313
It's going to get lower. I don't think Russia and SA will stop pumping until they are the last big oil producers standing

[Anonymous No.15151739]

>>15151341
Buybuybuybuy consoomconsoomconsoom

[Anonymous No.15151742]

>>15151658
First of all, nobody here knows what you’re talking about. Secondly, they’re not talking about buying futures contracts. Nobody here is buying 1000 barrels of oil.

[Anonymous No.15151749]

>>15151547
There’s no demand. You can’t cover the cost of anything. They’re effectively paying people to take the oil.

[Anonymous No.15151764]

A NEW HEROIC AGE HAS BEGUN! WAR HAS NEVER BEEN SO CHEAP!

[Anonymous No.15151771]

Maybe the leaders of China, Russia and US can mud wrestle naked, get it all out of theri system so we don't go to war over this shit.

[Anonymous No.15151779]

>>15151749
Thats what I mean. They pay me money to take it and I use that money to pay for transportation.

[Anonymous No.15151792]

>>15151654
>>using crude oil as fuel
Many of the large transport ships do this.

[Anonymous No.15151794]

>>15151771
All those countries are controlled by Jews, so probably not

[Anonymous No.15151797]

>>15151717
This. /lit/ is a communist/fascist board. The wealth chasing involved in stick trading is disgusting and base. I went over to /biz/ for a moment to see how they’re taking yhis and I was so surprised by the level of spiritual degradation there. Pic related is the average “quality” of the poster there.

[Anonymous No.15151799]

>>15151779
Okay, where you gonna transport it to?

[Anonymous No.15151814]

If you want my advice, buy wine and seeds.

[Anonymous No.15151815]

>>15151797
/biz/ is full of retards who don't actually make any money. Listening to any of their advice on investments is almost universally a bad idea.

[Anonymous No.15151817]

>>15151797
Doesn't get more american than that

[Anonymous No.15151819]

>>15151797
>communist board
>"We're an aristocracy of the spirit here - above such base pursuits as cryptocurrency and stock futures trading."
kek

[Anonymous No.15151825]

>>15151799
The warehouse I bought with the money they paid me.

[Anonymous No.15151836]

>>15151825
You just spent it all on transport, though.

[Anonymous No.15151877]

>>15151836
Yes but if I acquire enough oil they'll give me enough money so that I can afford a warehouse too.

[Anonymous No.15151886]

Gondor calls for economic aid!

[Anonymous No.15151897]

>>15151356
This. The price is negative because we have literally ran out of storage for the current oil glut. It would cost more to store that oil than it is worth.

[Anonymous No.15151900]

>>15151654
do you have any understanding of the stock market prior to this? right now you can buy stocks of silver at about 15 dollars. if you want delivery, you are looking at about 25, because the supply is so low. you can buy stocks of crude at >1.00. if you want delivery, they will actually pay you to take the oil off their hands. this is literally only useful if you have a fucking industrial storage warehouse... you can buy cheap stocks but that will still cost you money. they charge you for the stock and pay you for storing the physical oil.

[Anonymous No.15151901]

>>15151742
Ok buddy go buy 10 calls on your energy derivative security of choice
Have fun.

[Anonymous No.15151930]

>>15151825
you are going to get the papers signed? the building inspected by the EPA? storage licenses? municipal approval? fire inspection? are you going to pay for security? property taxes? what about maintenance and upkeep of the building?

[Anonymous No.15151943]

I didn't listen to /g/ when bitcoin was new because /biz/ and /lit/ said bitcoin was bullshit. So I'm definitely not listening to /lit/ now.

[Anonymous No.15151948]

Negative oil is the new paradigm, only land has value.
True aristocrats invest in agriculture.

[Anonymous No.15151950]

>>15151797
I agree materialism and greed is bad, but if you want to be an elite that controls the culture and destination of our society you need money. You can recognize money as not being your ultimate goal while recognizing its needed to bring about necessary change. Simply saying you're above it is what allows the guttertrash kikes and degenerate materialists to run rampant controlling modern society.

I mean just look at Julius Caesar as the best example of what I'm saying. He clearly didn't value money or materialism as his ultimate goals, but he acquired vast amounts for practical reasons to gain power.

[Anonymous No.15151951]

>>15151279
I just sold my BTC to buy this up. Rollin!

[Anonymous No.15151959]

>>15151943
/biz/ wasn't even around when bitcoin was new
/biz/ only came into being long after bitcoin took off

[Anonymous No.15151966]

>>15151930
We've been over this anon, if I acquire enough I'll have the money to cover any costs.

[Anonymous No.15152022]

>>15151959
Don't you dare break that boy's narrative - let him lose all his money.

[Anonymous No.15152048]

>>15151966
if they are paying 35 for delivery it's because it will cost you 50 to store it. don't be a chump anon

[Anonymous No.15152052]

>>15151900
>you can buy cheap stocks but that will still cost you money. they charge you for the stock and pay you for storing the physical oil.
Which is my point, there is no making a profit out of this. It's literally just spunking into the aether.

[Anonymous No.15152065]

>>15151966
>>15151877
Is this that classic /biz/ "buy high, sell low" retardation I keep hearing about?

[Anonymous No.15152075]

>>15152052
you might make money speculating on oil long term but there is no quick money here, the people who made all the money were shorting crude at 15

[Anonymous No.15152087]

>>15151966
Go for it. Get the CEO of oil on the phone.

[Anonymous No.15152096]

>>15152048
He’s not serious. This isn’t feasible. These contracts are for barrels of oil well into the thousands. I think might be something like 55,000 barrels for certain contracts that you’re obligated to purchase.

[Anonymous No.15152114]

>>15151556
Pretty sure they do have to take delivery on their position for crude. Or is that WTI? I honestly don’t remember.

[Anonymous No.15152124]

>>15151279
Why would you want to invest in something as tumultuous as oil, if anything this is a signal of how electricity or other alternative measures wiill follow as a result of this.

You're not getting rich

[Anonymous No.15152132]

>Go to the gas station to get sweets
>get 8 barrels of oil free with every purchase of a freddo

[Anonymous No.15152135]

>>15151348
Should I withdraw all the money in my account? Ive never been wise "financially" and haven't a clue what market measures and bs means

[Anonymous No.15152163]

Don't buy in this market, it's totally irrational. World pandemic, increasing numbers of unemployment, and yet stocks go up..

[Anonymous No.15152164]

>>15152135
If people do this, we’ll go under a depression again. And if that happens, your withdrawn life savings wont he worth anything. They’ll be more useful as toilet paper.

[Anonymous No.15152185]

>>15151313
the big ones can go bankrupt

[Anonymous No.15152256]

>>15152164
TELL ME WHAT TO DO ANON I'M FUCKING SCARED ABOUT ALL OF THIS HOLY SHIT


I'M BUILDING A TIME MACHINE JUST TO GO BACK TO KICK LEIBNIZ'S ASS "BEST OF ALL POSSIBLE WORLDS MY RIGHT FOOT YOU FUCKING NERD

[Anonymous No.15152264]

Buy francs or pm' s (I'd buy rhodium, palladinium, platinum since normies are selling there 'rainy day' silver and gold)

Get your money out of your countries currency and market - assets, capital production, etc. are the way to go.

[Anonymous No.15152344]

>>15152256
bruh it's too late
the precious metals have all been bought
you can move money into crypto but that's still a huge gamble
cash is the first thing to become useless so sitting on a big pile of money is bad. just buy some bitcoin if you are scared

[Anonymous No.15152376]

BUY HIGH SELL LOW

[Anonymous No.15152426]

>>15151348
>YOU ARE LIVING IN HISTORY

Everyday is living in history.

[Anonymous No.15152455]

>>15152256
Buy a gun, learn to garden, learn to make meth

[Anonymous No.15152519]

>>15151348
>DO YOU REALIZE THAT?
>THERE HAS NEVER BEEN A CONCEPT OF FUTURE ASSETS GOING NEGATIVE. NEVER IN HISTORY. YOU ARE LIVING IN HISTORY
In '08 crisis, some EU countries had negative interest rates on their bonds. This is new in terms of commodities, but not in general.

>>15151279
>tfw you buy 50,000 barrels of oil and someone gives you $150k for it, and then they show up with a freighter full of oil barrels and you have nowhere to put it so you dump it and then end up triggering groundwater and environmental pollution fines that are in the tens of millions of dollars.

[Anonymous No.15152538]

>>15151279
But all my money is in Chainlink already. I'm already destined for wealth.

[Anonymous No.15152549]

To put this in terms that /lit/ will understand - would you take $1 from every tumblr user who has a book of poetry in exchange for putting hard-cover copies of each of those tumblr users poems on your shelves?

I would not.

[Anonymous No.15152579]

>>15151287
Oil is backed up by state force.

[Anonymous No.15152639]

>>15152344
Bitcoin or ethereum?

[Anonymous No.15152647]

>>15152519
>This is new in terms of commodities
Ehhhh

[Anonymous No.15152689]

>>15152579
State benefits from cheap oil.

[Anonymous No.15152740]

>>15152549
Sure I would. They just don't have to know I'm building a book fort out of it.

[Anonymous No.15152750]

>>15151279
t. doesn't understand basic finance
The reason why oil is negative for the June contract(that's an important part) is the fact that it's cheaper to pay people to take your oil than it is to shut down and restart your oil wells. Plenty of oil wells are not profitable at current prices, so futures contracts reflect the need to keep operations going while having nowhere to store the oil (oil is hard to store).

[Anonymous No.15152762]

>>15152549
Would you rent a small bookshop to sell self published tumblr books which you have to sell and cannot dispose of any other way? How much would they have to pay you per book?

[Anonymous No.15152767]

>>15152750
>(oil is hard to store).
Some of it is the extremely lean oil (forgive the pun) transport pipeline

[Anonymous No.15152769]

>>15151658
thank you for trying to save the souls of the poor teenagers and college students who might fall for this garbage

[Anonymous No.15152775]

THIS PRODUCT IS SO VALUABLE IT COMES WITH MONEY

[Anonymous No.15152781]

>>15151313
Why would I pay money for stocks when I could be given money for taking the oil?

Where can I take it off their hands? I have about 5 acres. I think I could get 10k barrels

If I take it off their hands that's

$-37 x $10k = $37000

No money required. I get oil and money.

[Anonymous No.15152787]

>>15151285
lol, one of my favourite sketches.

>>15151279
Oil ain't coming back, friendo.

[Anonymous No.15152800]

guys, don't put your oil and starbucks money into this shit. you're going to get shaken out

[Anonymous No.15152821]

My health is decaying . Glad I got to live to 2020 to see my points come true about things midwits used to mock me over
>muh peak oil
I said this was a meme when I was a kid.
>noo you can't just shut down heckin air travel
Yes you can. We can live without airplanes.

I stuck to my points my entire life in spite of ridicule and I was vindicated. I was right.

[Anonymous No.15152833]

>>15151797

[Anonymous No.15152852]

>>15152821
>My health is decaying . Glad I got to live to 2020
what's wrong with you, anon?

[Anonymous No.15152876]

>>15152833
I'd fuck left, middle's face is obscured but I like that its short and scrawny, then I'd steer clear of right.

[Anonymous No.15152978]

>>15152124
>if anything this is a signal of how electricity or other alternative measures wiill follow as a result of this.
Surely. The question is, not now, not in the next five years.

[Anonymous No.15153096]

>>15152821
Glad you got the last laugh.