Wednesday, May 02, 2012

More on oil prices

Barack Obama recently admonished "futures traders" as being responsible for the high price of gasoline. He may be on to something. But guess who are the biggest traders in the futures markets? If you guessed big banks, you'd be right.

They got billions in bail out funds to save the hides of rich investment bankers on Wall Street? Instead of lending, they bought smaller banks or sat on it to make their own balance sheets look better. Would you believe most of their stocks are way up? Right again!

Let's face it. New York banks control the world. It began a century ago when the Rothschild interests from Europe sent a family member to marry into the prominent New York banking circle. Together they aimed to control world money matters and they've done it.

The big New York money interests founded the CFR (Council on Foreign Relations). CFR has its fingers in government at every level. Their members have been on president's cabinets and filled nearly every high ranking office in most administrations for the past century.

Back to futures trading, "skin in the game" is the answer. "Skin in the game" would have prevented the housing bubble and bust. But it's pretty hard to regulate industries that have donated so heavily to politicians, isn't it?

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