Supply and demand? The supply of crude oil has risen to its highest level in nearly two decades, even while the demand for gasoline is down dramatically, having fallen to a 10-year low. Supply up, demand down. That's a classic market formula for cheaper prices at the pump – yet they've risen by some 60 cents a gallon in the past two months alone.
We're being had by some brand-name dealers. Not Exxon, Chevron, etcetera – but such names as Goldman Sachs, Morgan Stanley, and other Wall Street dealers who place unregulated, speculative bets on the future price of oil. Sound vaguely familiar? Yes, this is the same so-called "dark market" of derivatives and swaps that led to the sub-prime mortgage crash, which then brought down Wall Street and crushed our economy. And, yes, these are the same banksters you and I are bailing out with trillions of our tax dollars.
link: Jim Hightower | WALL STREET IS ROBBING US AT THE GAS PUMP
No comments:
Post a Comment