As you max out your credit cards at the gas pumps, you should know that the major players to blame for the spike in gas prices are the same people who tanked the world economy four years ago– our friends, the Wall Street speculators .
That’s right, many of the same banksters–Goldman Sachs, Morgan Stanley, J.P. Morgan, et al., who manipulated the mortgage market with unsecured derivatives, created a bubble that burst in 2007 and 2008, causing a worldwide financial meltdown–are in large part responsible for the skyrocketing price of gas at the pump. Another familiar name, Enron, even has a role.
There are multiple reasons for fluctuations in the price of gas, among them oil supply and demand, and geopolitical developments. But according to Bart Chilton, a commissioner at the Commodity Futures Trading Commission, the federal agency that regulates commodity futures and option trading in the United States, much of the spike in gas prices is due to “excess speculation” by Wall Street traders. ,,, Read More
By lila york
The Katrina debacle was a warm-up act. So was the mortgage fraud with its 30 million foreclosures and resultant homelessness. So is the lifetime indebtedness of young people seeking a college degree. What is ahead is more of the above, multiplied by a million. What US banks did to third world countries for decades they are now doing to the people of western industrialized nations – including our own. Just as bankers lured millions into home loans they could not afford with malice aforethought, those same bankers lured nations into loans they could not afford. That is what they do and always have done. It was easier to ignore when those nations were Chile, Argentina, Brazil, Indonesia, Peru, Ecuador, Bolivia, Honduras, El Salvador, Guatemala, Panama, Nicaragua, the Dominican Republic and Uruguay. (See John Perkins’ must-read book, “Confessions of an Economic Hitman“. You will forgive me if I have omitted nations – the CIA and the bankers are relentlessly busy). Now many of those nations are prospering and free of indebtedness to US bankers – probably forever. (They barter oil for other commodities in order to avoid the US dollar completely). So what was a greedy banker to do? He had to find new victims.
At the center of this Armageddon are the banks on the dole from the Federal Reserve: JP Morgan (and its investment arm, Morgan Stanley), Goldman Sachs, Bank of America, Citibank and Wells Fargo, all of whom trade derivatives worth more than the GDP of the entire world. Their modus operandi is to lure nations into low-interest loans they know with certainty cannot be repaid, thus forcing bankruptcy and allowing them to storm in like a flock of vultures and seize every asset the nation has – every mine, railroad, monument and public utility – at pennies on the dollar; then driving up prices for a massive profit, forcing the population into ruinous poverty. That scenario was instigated and played out in every country listed above , beginning in the 1960’s and is being enacted now. Greece is only the most recent carcass. Next on their list: Italy, Spain, Portugal, Ireland, Belgium, France and finally, the United States, where the Fed has finally done it – printed money in excess of the entire GDP of America. (As of January of this year, the national GDP was 15 trillion and 816 million dollars; the national debt rose to 15 trillion plus 65 billion dollars.) Fed policy is confusing, even for those who follow it, but suffice it to say that if all of that newly- created cash had not been siphoned into stock and commodity speculation – ending up in the Cayman Island bank accounts of corporate CEO’s and bankers – but instead had gone into the economy – jobs, education, clean energy and infrastructure – the entire debt situation would look much better, since millions more Americans would be paying income taxes and be off of the food stamp … Read More