I was just in a room with a whole bunch of speculators who are former Enron traders that are now trading natural gas and oil. And they're laughing their heads off about how much they're manipulating the price of oil. They couldn't care less.I enjoy Ben Stein. I believe him ...
While those of us at the bottom of the "barrel" suffer the reality of all the reasons given for the oil price increases over the past year, the insanity of statements such as this, whether true or hype, is unconscionable! If "HOT AIR" and "BULLSHIT" could fuel our transportation needs, the U. S. Congress would be a viable resource.
Nowadays, fund managers are pouring billions of dollars into commodities such as crude oil, wheat, base metals, Gold Bullion and silver as a hedge against the explosive growth of the world's money supply, competitive currency devaluations, and the negative interest rates engineered by central banks. To the chagrin of central bankers, however, much of the new money pumped into the global markets is going into commodities instead of the stock market.
While being only one of millions of worldwide consumers, I find this "revelation" to be only the tip of a "black iceberg" in the "truth" behind oil manipulation. Taking two steps backward, while attempting to move forward in dealing with energy problems is a classic gambit in the futile attempts to remedy the 24/7 reported oil price surge? Can the "media" be partially to blame ...
Should individuals seek to "hedge" their energy costs by investing in commodities ... to the detriment of their neighbors? Is it "every man/every woman" (PC) for "themselves?"
(Cue: "Snake Oil" investment/commodities pitchmen/pitchwomen (PC) to the media resources ... STAT!)
Isn't it just GRAND that a "lone trader" wanting to be the first to purchase OIL at $100 a barrel only "lost" $600 on his deal? How much did the petroleum buying public LOOSE because of his folly? I'd like to talk to this JACKASS!
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