Oil Price Jumps $25 In A Day Now $120/Barrel Gold $900/Ounce

 

 

The price of crude oil today is not made according to any traditional relation of supply to demand. It’s controlled by an elaborate financial market system as well as by the four major Anglo-American oil companies. As much as 60% of today’s crude oil price is pure speculation driven by large trader banks and hedge funds. It has nothing to do with the convenient myths of Peak Oil. It has to do with control of oil and its price. How?

 ‘Perhaps 60% Of Today’s Oil Price Is Pure Speculation’

Fadel Gheit, senior energy analyst for Oppenheimer & Co., said “people are seeing the bailout [$700b] today as the fleecing of America. They are expecting the dollar to sink even more, and there is no place for the investment money to go except back into commodities and oil.”

Gheit added that the market was back to being driven by something other than traditional forces, at least in the short run. “This is not oil responding to supply and demand fundamentals,” he said.

Oil Price Posts Largest-ever One -Day Gain

Is it fair that businessmen who fail in neighborhood stores have to close shop and often sell their homes, while Wall Street titans are spared the consequences of monumental stupidity and greed?

An Amnesty For Stupidity

“You had regulators sitting back as loans were being made with no documentation … predatory lenders taking advantage of the  situation – that’s how this all unfolded. It’s not a mystery,” Dodd [Democrat chair – senate banking committee] said.

US Congress Leaders Attack Bail-Out

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